The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-06-17
BANKERS OF UTAH
IN ORGANIZATION
Fifty or More Prominent Finan-
ciers Place Themselves in
Closer Relationship.
TAKE TRIP TO SALTAIR
AND SIT AT BANQUET
Governor Spry, Mayor Brans-
ford and Others Address
the Convention.

Less than two hours were reouired
Wednesday in which 10 perfect the
organization Of the Utah Bankers as
sociation, undertaken for the mutual
benefit of all banking institutions III
Utah and with the object Of bringin.
into closer relations the banking men
OF the state. Nearly one hundred rep
Iesentative bankers from all parts o.
Utah came to the city and were en-
tertaincd as guests Of the Clearing
House association.
Following preliminary meeting
held in the city council chamber in
the forenoon, the bankers were taken
anout the city III automobiles auG
shown the sights At 12:45 O'Clock
they were rendered lunheon at tho
Commercial club and give some idea
OF the hospitality dispensed bJ tnri
famous institution. Beginning at 80
o clock. brief meeting was held for
the purpose of ratifying the constitu
tion aud bylaws and for the election
of officers At 3 clock, cvery one
went 20 Saltair beach and was served
WITH {. dinner in the new ship cafe.
Many visitors took advantage Of tie
oppt rtuuity TO see the sights of tae
place and 10 bathe in the salt waters
Of rhe great inland sea.
Business Accomplished.
Most of the time. therefore, was
passed in recreation Much business was
accomplished, however, aud with a com
pleteneSs and smoothuess which showed
that the fnanciers of the state are
adopts at carrying out large transac-
tions with little bother or excitement.
The meeting at the city council cham
l. al "A
clock Wednesday forenoon by w. :.
Mccormick, president of Mccormick x
Co. :. a. Whitney, cashier OF McCor-
nick & Co., acting As temporary see
retary, then read the official call for
the meeting President Mccormick, i'll
brief address. set forth the object of
the meeting aud urged that a state rs.
sociation be organized to include all
I banking institutions iii Utah.
Governor Spry then made short al
dress of welcome. He stated that he
believed in the organization Of Gnan-
ciers rs we'll as of laborers. He re-
ferred TO the late financial stringencT
and the manner IN which the period
had been passed by the bankers Of the
state, complimenting Them upon the eXN-
cclIent showing which they had made
and stating that he felt that the rec
ord Of the Utah banks during that
crisis was one that they need not lac
ashamed Of The governor called at
icntion 10 the splendid achievement ac-
complShed by the state IN agricultural
and other interests and alluded TO the
many recent events which have lndl-
Gated that Utah is au unusually safe
place III which 10 make investments.
Mayor Bransford Talks,
John $ Bransford, mayor of Salt
Lake City, then spoke IN part as toi-
lows:
here today and on behalf OF The people
OF this city TO bid YOU hearty and cordial
welcome. ,,
from so many different quarters oi the
state of men who are associated Win
those various interests which lie so Close
to- and upon the expansion OF Whlch &c
ponds so much the extension oi inc ~
dustrial, and. corelatively. the social WEI.
fare OF the people OF Titan; Is one fFausht
with unusual meaning,
We live in an age OF organized effort;
systematic endeavor has taken place In
every channel of human activity, the
state OF Utah needs such an insttution
as that which you propose to establish:
the great and cver-eXtending needs OF the
community require that our banking IN
stitutions which in reality are the nerve
centers of the economic organism. shall
be maintained in sound and healthE
condition.: 1t is therefore necessary that
the channels through which circulation
proceeds shall not be permitted 10 be-
come closged; that in times OF monetary
stringency In one place the whole system
shall be in such excellent control as to at
once permit of the desired relief being
secured.
There is no economic principle more
firmly established, or more pronounced
in It's operation, in the whole realm of ma
ture than that the dissipation and con-
servation OF resources are intimately re-
y there there IS r9iS p5SdSa5g at Gms
at another. This law holds true In fhe
economic domain, and the better we
understand this law, and md apply p.,r ou,
and intended to be accomplished, the
moro surely and fully will our success
be assured. And this. take It,, is one
OF the objects OF your proposed asso-
citation,
am confident that your, efforts will
that viii materially assist in improvins
conditions, assisting III promoting the
advancement and upbuildns
OF our beautiful state; so u Tar III as IT snsI .ns
not be left in any degree OF uncertainty
or doubt.
welcome and hope that your delibero-
tions viii bring forth the very best
and while you are so1ourning IN o,ir
beautiful city SnGeTey f trust '"SS az f%e tbe
pleasures of life, The local members VIII.
/ am sure. do everything possible TO make
you comfortable and pleasant
Former Governor Heard.
Former Governor Heber NJ. Wells,
of the Utah Savings
Trust company, then called attention
TO The needs of organization aDd u
some oi the reasons for the strong in
flucucc which the banks nave on he
BUSINESS of the community. lie spoke
in part as follows:
Tho governor OF the imperial common
wealth of Utah has welcomed You To- our
ranitgI city in most cordial. hospitabl"
md enthuslnstic language. and the mayor
Of our great. throhbing city has welcomed
vou again in hearty, gracious and charac-
lcrstic fashion.
In all conscience you ought to feel,
and probably YOU do feel, entirely at
nome, now that the keys of the CITY
have been intrusted TO yoW Keeping