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THE CONSOLIDATED NATIONAL BANK, Tucson. is the oldest and largest bank in the city, and in its history is interwoven
a portion of the history of many of the ablest financiers in the Southwest. The first bank in Tucson was The Pima
County Bank, organized in the early seventies, which subsequently became known as The First National Bank of Tucson.
The Bank of D. Henderson was later organized, and in 1887, The First National Bank of Tucson, having surrendered
its charter some years previous and become The Bank of Tucson. was merged with the bank of D. Henderson, and thus
was formed the Consolidated Bank of Tucson. M. P. Freeman, who had been cashier of
The Bank of D. Henderson, was instrumental in this consolidation and became cashier of the newly formed bank, while
Mr. B. M. Jacobs, organizer of The Pima County Bank, and until recently president of The Arizona National Bank,
was the first president, and Mr. D. Henderson, first vice president. Shortly afterwards a national charter was
obtained and the name changed to The Consolidated National Bank, by which it is now known. In 1898, owing to ill
health, Mr. Freeman retired from The Consolidated National Bank, and the following year, having fully recuperated,
was one of the prime movers in the establishment of the Santa Cruz Valley Bank. In 1895 he again became associated
with The Consolidated National Bank as its vice president. At that time H. E. Lacy was president, and H. B. Tenney,
cashier. On Mr. Lacy's retirement from the presidency, Mr. Freeman was elected to this position, which he continued
until late in the year 1910. During the latter year, Mr. Charles E. Walker, now cashier,
was first employed with this institution as assistant to President Freeman, and at the close of the year on the
latter's retirement, a reorganization of the officials followed, when Albert Steinfeld
became president, Epes Randolph vice president, and Charles E. Walker, cashier. During Mr. Freeman's later association
with The Consolidated National Bank his influence on its development was material both in a personal way and as
regards the benefits derived from his superior knowledge of financial affairs, sound judgment, and general executive
ability. The Board of Directors of this institution includes the above named officials, Mr. Freeman, F. H. Hereford,
Charles H. Bayless and Leo Goldschmidt.
The Consolidated National Bank is a U. S. Depositary and continues to grow with most gratifying results. Its last
statement, dated Feb. 4, 1913, shows total resources amounting to considerably more than two millions, and deposits
of almost one and three fourths millions. The capital stock of the bank is $100,000, with a combined surplus and
undivided profits of $150,000.
While sound banking principles and reliability are the keynote of the success attained by The Consolidated National
Bank, its continuous policy of employing thoroughly capable assistants in each department, and of according to
the public the utmost courtesy, has been a valuable aid toward this end.
From:
Who's Who in Arizona
Vol 1
Compiled and Published by Jo Conners
Press of The Arizona Daily Star
Tucson, Arizona 1913
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