Arizona republican., 1910-12-22
INCORPORATED YESTERDAY
Under Active Management of w. c. Foster-It Will Represent Interests 1den- tical With the Phoenix National Institution.

The articles of incorporation Of the Phoenix Savings Bank and Trust company were filed yesterday in the offices of the county recorder and the territorial auditor This is the new banking institution that will open Tor business in the city of Phoenix on January lst, 1911 and Is the new bank that w. C. Foster. now terrlto- rial auditor, will assume charge or as secretary and treasurer on the date named. While the official opening of the bank Is dated January l, owing to the fact that both the first and second days of the year will be hol- idays, the real business will probably not begin until the 3d.
 The new bank has been incorpOrat- ed with q capital stock of SlOO.OOO and will open its doors for business with a paid up cash capital and sur plus of S15O0 All its stockholders are also stockholders of the Phoenix National bank. In fact the capital stock of the Phoenix Savings Bank x Trust company is owned by and held in trust for the stockholders of the Phoenix National bank and it IS therefore. in a sense. a branch Of the latter institution. The combined cap ital stock and surplus of both banks is S45O.OOO. certainly a strong aggre- gation of capital. which will no doubt serve to create a feeling of absolute security among depositors in either bank
 Plans for the organization of the new bank have been in progress for long time and it was known that it was to bear a close relationship to the Phoenix National but just what that relationship was to be was made public only with the filing of the pa pers. The incorporators are E. B. Gage. T F.. Pollock. H. J. McClung. NJ. C. McDougall and l.. H. Chalmers. The officers will be F.. E. Gage. pres ident: T. F. Pollock. vice president; H. J. McClung. vice president; w. C. Foster, secretary and treasurer. Mir Foster will as secretary and treasurer serve also as the manager Of the business of the bank. though the articles do not create any office known as manager. Except that Mir. Foster will be the active head of the bank. its organization is practically the same as that of the Phoenix National and the same wisdom. born of experience that has so success fully conducted the latter will be be- hind the new enterprise. which will also be housed under the same roof for the greater convenience of all concerned and also for the reason that it is the most desirable banking quarters now available in the city.
 ~f oil sI,a gentlemen named and their acknowl- edged prominence in financial circles makes particular mention unnecessary as a testimonial but it is we'll de- served as a tribute to their achieve ments. Particularly true is this of President Gage who has been identi- fled with Arizona's business interests since the earliest days. He has been one of the greatest local factors in the development of AriZinas mining and railroad interests. particularly in respect of the Congress. Tombstone and Imperial mines and affiliated en- terprises and has also aided in bring ing to the forefront many other pri- Vate and corporate industries. Through it all he has found time to devote both capital and attention to the banking business for many years past and has for a long time been distin- guished as the president of the Phoe- nix National which has more recently claimed a larger share of his atten- tion than ever. The mutual relation ship between the two banks now un- der discussion is such that the new one may safely expect the same wise af al tl.as Ia- -aI h ,I, f, istration of the older institution.
 As vice president. T. F. Pollock will occupy a stronger position than ever in local financial circles though he is already regarded as one of Arizona's foremost financiers. He is president of the Arizona Central Bank of Flag staff and recently became a heavy stockhOlder in the Phoenix National He will in the future make Phoenix his home and divide his attention be- tween the two banks
 H. J. McClung also a vice pres ident is and probably will continue to be still better known as vice pres ident and manager of the Phoenix National which has been under his direct supervision for several years. though he will by no means neglect the duties devolving upon him in his new office.
 As indicated the active head of the Savings bank will be w. c. Foster who it is expected will at an earily day be relieved of his duties as ter ritorial auditor. in accordance with his resignation rendered some time ago. Direct connection with the bank ing business is to an extent a new departure for Mir Foster but he is far from unfamiliar with it. As eX- officiO bank examiner MT. Foster Is probably in closer touch with public and private financial affairs in the territory. than any other man who has not been identified with the