Williams news., 1908-12-19
GOV. KlBBEYS REPORT


 documents ever issued by an execu tive of the territory. According to the report, Arizona suffered slightly from the fina ncial disturbance tha [ affected the whole country. It was . felt mainly in the sudden and rad ical fall of copper. The depression i was naturally communicated to other business interests. In the i opinion of the governor, though i there has not been the marked diminution in mining activity in Arizona that has been complained of in other parts of the country. Mines and reduction plants are now running with practically their full complement of men. Wages have been somewhat reduced to- meet the lower price of copper, but there is feeling that this condi ton of depression will be of short duratio
 The value of the copper product of the territory in 1907 was more than $5O.OOO GOO, an increase of 8
 million and half dollars over the value of the product of the previou-
 year, though the price of copper
 was less. These figures are takel from the sworn reports of the oper-
 ators to the territorial auditor for
 purposes of taxation. They do not include the products of mines pro-
 ducing less than $3,75O for the year
 The product of gold was 1lS 375
 ounces and of silver 2,704, ,O44
 ounces. The total value of gold.
 silver and copper produced was
 $54,7SS 673.
 There has been an increase in
 farming operations on account of the better supply of irrigation water which promises to be still better as ra pid progress is being made on
 the government works at Roosevelt
 and Yuma. The livestock business
 has been fairly prosperous. Says the report: Notwithstanding the financial depression, business of all kinds has increased within the year
 just ended "
 As to the population of Arizona the report says: II estimated the population of the territory last year
 at 1855 GOO. I believe it is. safe to
 say that the ratio of increase ob servable in later years has beer J maintained Upon that basis | would now estimate the population at 100000" The increase for tht l. year is attributed mainly to immi T. grafton from the middle westerr '' states.
 a The financial condition of thu
 territory is satisfactory. At th'
 close of the fiscal year the cash 1T ! the treasury amounted to $456. r. 3245l, an increase of $75 1908 SC F. The territorial debt has been re 6 duced by $1O, 900 by the redemption ( of ten six per cent bonds and be d sides there has accumulated in tn T redemption funds $8.367 v.
 =, IT territorial rate of. taxation i :, 5 cents on each $1OO of valuation the same as last year, notwith :. standing extraordinary appropria
 tions by the last legislature, mount ; ing to $369.5OO.
 All the territorial ba nks weath ;. cred the financial storm, thougI , three national banks suspended a Two of them have since resumed |. Among the territorial banks ther !, were two consolida tions and thre T. new banks were admitted.
 e An abstract of the condition C , the twenty eight banks on June F ,e shows: Resources, loans, discount h and over drafts. $5,9S3 OPS 3e re bonds. stocks and other securities D. $9O4,21773; real estate. furnitur re and fixtures. $612.64O 32; expens ,e account, $117,675.2O; cash and du 70 from other banks, $3,7O9,34 4(
 total, $11 .417.91 O1.
 = Liabilities: Capital stock, $1
 O34, 800; surplus, $426.S .S96 97; UT
 J;r;dol Dro6to S011 1C0 11. dopO,