The Alaska citizen., 1911-01-09

In regard to the consolidation Of inc old Washingt gton-Alaska bank with the Fairbanks Banking company, so far as the Citizen can find out, the nnTy matter of record was contained n a circular sent out by the Fair hanks Banking company to it's stock h lfcrs on September 12, 1910. This circular. a copy of which follows, is $ lf-cXplanatOry.
 To the Stockholders of the Fairbanks
 Banking Company.
 Al the semi-annual meeting of the stockholders tf tlts bank held OR September 12 1910, it was unani- m0uslg voted to conscl'i@'c with the NashinetCu-Alaska bank of this city. This consolidation to take place on October l.
 A you are aware, the Fairbanks Banking company now owns the entire stock of the Washington-Alas- ka bank. and in the plan of consoli- daion. the Fairbanks Banking Con- aapy takes over the assets and as =umes the liabilities of the other bank.
 The name of the Washington-Alas- ka bank is to be retained and your present stock in the Fairbanks Bank ing Company will be exchanged for he same number of shares of the Washington-Alaska bank as soon as he certificates can be printed. Con- solidatng, in this manner, will cut our operating expenses in half and he combined assets will make a very strong institution with deposits of over two million dollars.
 The officers of the new Washing tcn-Alaska bank will be:
 F. r Barnette, president.
 j. A. Jackson, first vice-president
 J. A. lesson, second vice-presldent.
 F. w Hawkins, cashier.
 l.. F. Wing, assistant cashier.
 The board of directors will con- sist of
 E. T. Barnctte. D. H. Jonas, J. A. lesson, John A. Clark, J. A. Healey, George Preston, and J. A. Jackson.
 All of the stockholders residing in Fairbanks are familiar with and ap- prove of the above plan and the off cers of this bank are confident that it will result in financial benefit of all concerned.
 E. T. BARNETTE,
 President.
 Frequently the recorders office has demanded of J. A. Jackson that some written instrument be shown where in the right is given to record Falr- banks Banking company papers i'll the name of the Washington-Alaska bank but this has never been forth coming, MT. Jackson always saying that he would attend to it.
 Foreign companies doing business in Alaska are required by law to file with the clerk of the court copy of their charter, and while both of the old organizations have done this there have been no papers filed by the consolidated concern.
 The suit filed by the railway com- nanv against the bank sets forth that the latter organization Is or ganized under the laws of Nevada, so it is presumed that the Fairbanks Banking Company has applied for nermission. in Nevada, to change its name to that of the Washington Alaska bank and that this right has been accorded Whether this is suf- ficient to comply with the Alaska law in regard to foreign corpora tions remains to be seen.
 In the interview with Captain Bar nette printed in the Seattle Times the statement is made that the cap tain had resigned from the presi- dency of the bank. Inquiry de- velops that Captain Barnette did actually wire in his resignation, but that the directors refused to accept it and that he still remains at the head of the bank.
 While the negotiations for the purchase of the Washington-Alaska bank were going on, or shortly after they had been consummated, Cap tain Barnette transferred his town property to his wife, Isabelle Bar nette. The deed, filed May 2S, 1910. transfers:
 The east 27 feet of lot No. 3, and all of lot No. f, in block 1, east between Second and Third, known