The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1908-02-26
F|NANC|ERs OF FLORIDA
Continued From First Page)
A Very High Average

A Worry High Average
would like to call your attention to
the marvellous record of the banks Of
the United States for 1907: There were
in operation twenty-four thousand.
with eighty-nine failures. What other
lines of business could show such a
small percentage of loss under the ex
traordinary conditions that existed?
While there have bern sporadic cases
Of malfeasance in conduct Of banks,
the tremendous weight Of the tcsti-
mony developed by the experience of
forty years or more. shows that the
banker is. first of all. an honest man;
that he knows his duty and does it;
that he is held in esteem by his neigh
bOrs. What city or town will you go
into Snd not find a banker holding
OF banks that have closed down during
the rast three months will resume bus
mess. This would not be possible had
not their affairs been honestly admin
istered.
The average annual rate of loss from
failures of national banks for the past
thirty years is eight one hundredths
Of one per cent. 1t is safe to say that
banks Of other descriptions would show
an equally favorably proportion
Business Outlook is Frightening
Looking over the field Of general bus
mess in our state, we find strong
tendency toward improvement. New
and extensive beds Of phosphate rock
have been discovered: new plants for
the mining Of the rock are constantly
being erected; prices are better than
for several years past: the turpentine
and lumber Industries. while not yield
ing the remunerative prices of two
years ago. are, nevertheless, being
brought into satisfactory conditions
through more economical manager
ment: the growth of tobacco under ar
tificial shade in the Quincy section has
become a great source of revenue. and
is rapidly being extended; the social
ed backbone" section. running from
Gainesville to Dader City. has been
found particularly we'll adapted to the
and watermelons; large sums were re-
turned to the farmers of Alachua and
Marion counties last season through
the sale Of the cantaloupe crop alone;
the farmers Of SUMTER county are
meeting with great success in the cul-
tivation Of cucumbers. using irrigation
against drought and late frost; the
growth OF celery has become a regular
industry in Orange county; the field OF
orange growing is being extended in
South Florida. An encouraging feature
in our agricultural industries is the ad-
vance in up-to-date methods in cult
walton. the use Of irrigation and labor
saving machinery; the intensive sys-
tenn is growing in favor: the canning
factory is also beginning to appear, t.
take over the surplus Of the vegetable
lcrop after shipments have ceased: q
new and wonderful attraction for tour.
lists have been added to those we al.
ready have by the completion Of thu
FLORIDA East Coast Railway to Knight.
Key: the influx Of winter visitors i.
!greater than ever. You have an objec
lesson in the attractive city of ou
hosts. We, as bankers, are vitality in
terested in all this. 1t is our duty {,
go shape our course that we can affort
the greatest help to the greatest mum
Der in developing the resources of on
state.
My predecessors for the past tw,
years have lectured you on the neces
sity of going slow on loans. If the ex
z; perience of strenuous November wa
mot a sufficient object lesson. a lectur
from me would be like whistlins dow
the wind.
In conclusion. l will ask you to dill
gently use your influence as plain
American citizens. to see to it that GOO
land proper men are sent to represen
us in the halls Of legislation. We nee
constructive. not destructive. legisla
ton. Send the demagogues to the rear
AS an association we have no favors {
ask in the way of legislation. we simpl
want justice.
| thank YOU for the honor YOUR hay