The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-06-22
President Mccormick De-
I nounces Bad Laws and Asks
for Uniform Statutes.
R0YLANCE POINTS OUT
IRRIGATION BENEFITS
Shows How Various Reclama,
tion Projects Nave Multi
piled Wealth of State.
Snecisl 70 The Tribune

convention OF the Utah State Bankers as
ISOLATION met here at IL o'clock this
morning in the Provo Commercial club
rooms.
President, W. S. Mccormick called the
convention 10 order. PRAYER was Of
fered nv the Rev. C. w. Loneenecker of
the Episcopal church. Fifty delegates.
renresentiuE as many banks. wcrc at the
morning session and twenty moro came
In during the dav.
Mayor W r. Ray delivered the sd-
dress of welcome and Joseph T. Farrer.
cashier Of tho Provo Comme rcial and saw
ugs bank, spoke along similar lines The
response VIZ. by Lorenzo n. Stohl, presi-
dent or the First National bank Of Brig
ham CITY.
Al the afternoon session President Nc
Cornick read his annual report, which was
followed by the annual report of the sec
rotary and treasurer. G. H. Wells
sistant cashier Of the Utah National bank.
COMMITTEES com were folowed by an address
on Irrigation and Banking by w. NJ.
Roylance.
The Trials and Tribuations of a
Country Banker were described by
Charles Il. Mahey, cashier OF the Boun
tiful State bank.
At 4 o'clock tho visitors were taken on
= trim through Provo canyon. returning
I'm time for the banquet al the Hotel Rob-
erts at O'Clock
Mccormick on Legislation.
Among other things. President W. s.
Mccormick in his annual report made i'm
'portant recommendations concerning leg
islaIion and denounced the freak statutes
of some OF the Statos OF the union. This
part OF his roport follows:
Among subjects always OF interest and
that should hold TO the forefront OF atteu-
ton. | would mention the desirsbilty, IL
found practicable. of adopting a uniform
plan for securing blanket coverings of
fidelity bonds. Since the companies is
form rates and regulations. It would seem
the part Of wisdom for our association To
secure the most liberal forms OF con-
tracts OF this kind. and. by cooperation.
get the very best rates possible. I be-
lieVe YOU will all agree with me that this
subject Is entitled to our. consideration.
Paramount always. Of course. Is the
subject of securing uniform legislation
respecting all banking interests. Once
such laws are enacted protecting citizens
in their relations with banks, and in so
doing anordDg banks and banking the
highest security and efficiency. there viii
then be vast saving OF time and money.
only those who have seriously pon-
dered the subject realize how great X
the waste of time and the monetary loss
uncertainty that follows tho different
legal enactments that control banking as
expressed I'm the statutes OF the several
states OF the nation.
Nothing can be more absurd than that
a homogeneous people. such ms lnhabit
the United states. should have 80 many
different legal methods Of accomplishing
the same general ends. Some minor dis
tinctions may be necessary. but certainly
nothing could be more foolish than the
complex and segregated legislation OF
great nation respecting "A topic that
touches all its citizens precisely the same
way. In the Interest Of safety fer in
vestors and as end TO a great public
economy our. most assiduous and most
continuous efforts should be In the di-
rccuon Of uniilcation OF all laws re-
lating to banking.
We hat l.,
a social and greGarious animal. All
work and no play makes Jack a dull boy
Hence as much is often accomplished
along given lines through pleasant as
socation as by serious work Propinquity
Is a wonderful thing"
Roylance OH Irrigation.
w. NJ. Roylance. speaking on banking
and irrigation, pointed out that irrigated
lands furnished gilt edged investments.
Among other things he said:
In the short space Of twenty years in
the immediate vicinity of Provo as a
result OF Irrigation. the banking business
time Of about 100000, TO a depository
today in Provo OF about 81 800, 900 and
proportionateiy so all over the state of
Utah. Irrigation stock that was con-
sIdered high at so per share Is today
selling and can find ready market at 5000
per share. Very good banking, isn't It?
AS a result Of the irIisation, repre-
sented by that stock. lands in this i'm
mediate, vicinity have enhanced In value
from $40 per acre to $500 TO $4,000 per
acre. Within the last two years we have
had an irrigation company organized in
this city, the purpose OF which was TO
store unused waters during the late fall.
winter and early spring months TO be
brought down to Irrigation canals and
ditches during the months OF June July
and August and applied TO unIrrigated
soil that up until that time were not
cultivated at all. And the result Is that
there are several thousand acres OF land
being brought under the highest state OF
cultivation. result of which will be In
creased deposits.
within the short space OF only three
or four years there has heen and Is COM
ing under cultivation and irrigation on
the west shores Of Utah lake tracts Of
land sgsregatinG 10000 To 10000 acres
The land itself was considered practically
useless; In fact. 1t had never been used
for even grazing purposes during the
winter months for sheep grazing pur-
poses. AS result OF the application OF
water for irrigation the land Is steadily
being sold for as high as $3.50 per acre"
Mr.. Roylancc went on 10 describe the
many other irrigation projects In Utah
In furnishing largo part of the money
for the improvements.
Report Of Treasurer.
The treasurers report showed
Balance on hand June 90. 19f0.S $50. 70
Annual dues from members. 49,. SS5 90
Totals ,,.,.,,.......... ~, ,52a- 72
Disbursements. itemized. total
Balance on hand June 81. ioii,,. Ss$ OF
Totals .-..,...-,.......,..s1, 52+ 7e
Following is the list OF visitors and
guests who registered with the secre-
tary today:
W ": S. chip'mau. ,,E., ssnk Of :! American si.t
president State Bank OF Beaver. Beaver
Charles r. Mabcy. cashier Bountiful
State bank Rountiful; Lorenzo N. Stoh
president State Bank OF Brigham City
Brigham: A. l.. Clark, cashier Davis
County bank, Pennington: NJ. n. Evans.
cashier Bank OF Garland. Garland
George Nj. Jorgensen. Bank Of Heber
City, Heber: H. E. Crockett, FIRST Ma