Douglas daily dispatch., 1926-12-05
CHARGES AGAINST MRS. HALL DROPPED
BANKING GROUP
BUYS DOUGLAS.
COMMERCE BANK.

Plans covering q period OF nearly
year will have been consummated when
the Bank of Commerce opens it's doors
tomorrow morning as a branch of the
Arizona Southwest bank, a newly or
ganized institutior - Tucson, it was
learned Saturday from officials of the
bank
That some plap a2s been taking
shape which would affect the local in
stitution has been known for some
time, but not until Saturday night was
it learned that the local bank has been
purchased by ,he new Tucson bank
and that it will be operated as
a branch of that institution. The local
branch and its parent organiza on
will open concidentally tomorrow
morning under the new ownership.
Details of the transaction and new
organization were learned from A. j.
McI<innon, formerly vice president and
cashier of the Bank OF Commerce, and
Charles T. Solomon, executive vice
president of the newly organized ART
zona Southwest bank, who conferred
with McKinnon in Douglas regarding
final details of the transaction.
Solomon has been well known as an
Arizona banker and business man for
more than 25 years. He was connected
with the Gila Valley Bank and Trust
company in 1900 and from 1918 to
1926 was president of the Arizona Ma
tional bank at Tucson, continuing as
head of a merger with the Consolidated
National bank, which he left under a
he was also president of the National
Bank of Arizona at Phoenix. He is
now vice president of the Western
Bond and Mortgage company and di-
rector of the Western States Securities
company at Phoenix.
NIcKinnon will remain in charge Of
the local bank as manager. The Off
cers of the new organization are:
President, ]. F. Brown. former presi-
dent Of the 1-:rst National bank at
Casa Grande; cashier, H. H. Holbert,
formerly assistant cashier of the Ari-
zona National bank; assistant cashier,
H. w. Skattaboe. Additional directors
are: Robert Rae. formerly president
of the Bank or Commerce; Dr. A. G.
Schnabel and Sam Elrod of Tuccon,
and William Cowan of Douglas
Before leaving Douglas to attend the
opening of the new bank in Tucson,
Solomon issued statement in which
he spoke optimistically of the pros
poets for increased prosperity in Doug
las. stating that the Bank of Com
merce was purchased by the new or
ganization to be operated as the first
of a number of branch banks which
the institution will operate throughout
the state.
Solomon's statement follows:
THE Arizona Southwest bank, with
a capital and surplus of $125,OOO, has
just been organized by a group of 80
stockholders, representing many sub
stantial and well known business and
professional interests of Tucson, Doug
las, Warren, Casa Grande and other
cities of the state.
1T is the intention of our organiza-
ton to open and operate branch banks
as desired in profitable locations. With
this view, when the organization of
the parent institution was completed
we purchased the assets of the Bank
of Commerce and assumed its liabilities
to depositors.
"The official family of the new Or
ganization will be headed by J. F..
Brown of Casa Grande, a man of long
standing reputation in Arizona finan-
cial circles. l will be actively in
Continued on Page Three)