Arizona republican., 1910-06-27
EXPANDING
 BUSINESS Rapid Growth Of Two Finan-
 CiaI Institutions PHOENIX BANKING HOUSES
Bank and Phoenix National Bank Will Both Increase Capital Stock From $1OO, to o$15O, 1000. Community Prosperity

The Republican is enabled t0 an-
 nounce a fact of special pride to two
 of the financial institutions of PhOe- nix and of general satisfaction to the whole city in view of what such news
 indicates. The directors of the Valley
 Bank of Phoenix, operating under the
 territorial banking laws have voted to increase the capital stock of that in stitution from $100,O00 to $15O,000;
 and the directors of the Phoenix Ma
 tiOnal Bank, operating under the na- tional banking laws, have ref5rrCJ to their stockholders, a proposition for increasing the capital stock of that institution from $100,000 to S150,OOO
 There is little doubt but that the stockholders will act favorably on the question but under the law it must be left to them. The election on the ques- tiOn will be held some time in August.
 The Phoenix National Bank under the management of Vice President H. J. McCIung and Cashier Robert Bur mister, and the Valley Bank under the management of President E. l. Bennitt and Cashier Lloyd B. Christy, have steadily advanced untI they stand foremost among the strong finarcial institutions of the whole southwest. Incidentally these two banks in their rapid growth are running a neck and neck race.
 By a considerable margin both these banks. one a territorial and the other a national institution, in point of de posits lead all other banks in Arizona. The deposits in the Phoenix National aggregate $1,S5O,OOO while the de- posits in the Valley Bank approximate ty.o millions. The Phoenix National has a surplus of s10O.000 and undi- vided profits amounting to $S5,000, while the Valley Bank surplus and un- divided profits show good figures, the exact amount not being at hand at the time of writing.
 Both institutions are doing an inn mense and rapidly growing business. and for that matter all the Phoenix banks are enjoying prosperity, which makes all the more significant the eX- pansiOn of these two larger institu tions Their business is increasing with such rapidity that it is deemed the part of wisdom to increase their
  facts are the best testimonial available of the general prosperity of the busi- ness interests of the community and confidence in all quarters in lhe con- tinued prosperity of the valley. In a measure small things have passed and the day of large things is at hand. Capital is needed in large quantities and that it is available in proportion ate ratio is gratifying. And satisfac- ton over a condition where people have money to put in banks is eqUaled only by one other fact, which is the of the people in their bank ing institutions.
 The Valley Bank which only 2 year ago moved into a specially constructed building so large and commodiOus it seemed at first it would never have use for it, has found no trouble i'll utilizing its full equipment, the busi- ness seeming to have grown in pro- portion to it's opportunities. The Phoenix National which sometime be- fore equipped a magnificent banking house has already found it's clothes too small and plans are under way for enlarging the quarters. Next Sat | urday it is planned to move the bank | ing house temporarily into the quar- ters occupied by the board of trade ! pending the removal of the wall be- | tween the present counting room and | the adjoining store on the west, which l will be added to the banks business plant. and fully equipped, when the | bank will move back from the present board of trade rooms into it's enlarged | quarters