Williams news., 1921-02-11
ARIZONA CENTRAL
 AND THE CITIZENS
 BANKS CONSOLIDATE

T. E. Pollock, President o1
 the Arizona Central Bank ot
 Flagstaff, and M. I. Powers
 President of The Citizens Bank
 of the same city, announced to-
 day the merger of their respec-
 tive institutions.
 Under the terms of the mer-
 ger, the $15O,OOO of outstand-
 ing stock of The Citizens Bank,
 with it's $25,OOO surplus, be-
 comes consolidated with the
 assets of the Arizona Central Bank, a concern with an author
 ized capital of 100000, of
 which $5OO,OOO is outstanding. The merged institutions will op- crate as the Arizona Central
 Bank of Flagstaff, with M. L. Powers as President. and with resources of six million dollars as shown by last published statements.
 This merger in itself adds materially to the financial strength of banking in Northern Arizona, but the additional statement is made that new in terests, headed by J. $. Doug las, President of the United Verde Extension Mining. Com pany, w. H. Brophy, President of the Bank of Bisbee. Director of the Los Angeles Trust & Savings Bank and for many years manager of the Phelps Dodge Mercantile Company, and by H. J. McClung, Presi- dent of the Phoenix National Bank, are to take an active part in the new organization. In addition, the announcement is made that interests closely al- lied with the First National Bank of Los Angeles and the Los Angeles Trust 6 Savings Bank-the strongest financial interest in the entire south west are also interested in the merger.
 With such forces behind the consolidation great strength is to be added to the financial sit uation in Arizona, while the consolidation of the chain of branches of the institutions pri- marily interested will greatly extend the service to be ren- dered the people of the state.
 The Arizona Central Bank carries into the merger it's branches in .Kingman, Will | Hams, Oatman, Cooley and ! Chloride, while The Citizens Bank brings into the merger branches in Kingman, Williams and Oatman.
 One6of the principal reasons for the bringing about of the merger at this time lies in. the fact that T. E.. Pollock has been forced by the press of his rap Idly increasing outside personal to lay aside much of the detail work with which an active bank official is always faced. MT. Pollock believes that the time has come when he can no longer carry both bur dens without undue personal eff ort.
 It IS announced. however, that he will retain his position upon the Board of Directors of the combined institutions. and will lend his persnal efforts to- wards making the new organi- zatlon- successful, not only from the standpoint of the banks themselves, but as matter of service to the people of the state.
 Other directors of the com , oIned banks will be M. I. Pow CTS. James s. Douplas, w. H. Brophy. H. J. McCIung, c. J. w alters and J. P. Wilson.
 A. M. Root Jr. will continue as the Williams Manager of he combined institutions. The business at Williams will be conducted in The Citizens Bank Building. The present quar- lers- of The Arizona Central Sank will remain open during he usual banking hours for the convenience of safe deposit pa- { ,rons until arrangements for Z moving the boxes can be com