Weekly journal-miner., 1911-10-11
DOYLE ELECTED TO
 HIGHEST POSITION
Morris Goldwater Unanimously Chosen To Continue as Secretary of The
 Arizona Bankers Association

swindle the ignorant. He outlined
 the ease of the Jackson Loan and Trust company of Phoenix which he
 had run out of business and said that although this was a downright swindle he as auditor could, do noth- ng more than refuse to issue a li- cense to the fraudulent concern, but had no way of restoring the money which had been taken from the dupes.
 "Someone has said that overdrafts originated in the internal regious and the first attempt to overdraw his account was made by his Satanic majesty, but the check was thrown off the elearings because there was no red ink in Hades. I can't vouch for the truth of this statement. but certainly the commission of this i'm position has caused more bad lan- guage on the part of the banker than any other one thing.
 "If all banks would decline to pay overdrafts they would be practically eliminated. This is proven by the very significant amount shown in this item in the statements of the New York banks and those of eastern cities. The campaign for business there is as great certainly as in the frontier towns yet they will not go so far to hold business as to allow
 ~ll1W without permission.
 A customer is afraid to attempt an overdraft the first time but after doing it once successfully, the pre- cedent is established and the account ruined. An account should maintain balance of from S200 in the small towns to $500 in the cities in order to pay its pro rata of the cost of its handling. Why spend money to invite business and then ruin its value by the mistake of paying the first overdraft! The customer will prob ably take no Offense at being turned down the first time but after honor ing that same first cheek you are almost bound to make an enemy by turning down the second offense.
 ''If a neighbor asked you to loan him your silver spoons you would grant the request, but suppose heI walked into your house and took them without asking, would you do things to him! Yet you continue to permit in another direction the same crime with but a feeble protest.
 "We are now entering upon new condition of government. Our bank statements will be more closely ex- amined by the people O. these United States and they will De more general Nv circulated. Let Il. strive to ellm- mate this perniciOus practice and prove to our eastern friends that our methods are as clean and as free from the careless and slipshOd as are the institutions of the older eastern states. It will help our credit as well and relieve much that is more than disagreeable in the relations be tween the banks of this territory and the department which I have the honor of representing before you to- day."
 Telegrams and Thanks.
 Telegrams were then read by the secretary from R. B. Burmister and Fred E. Marshall, stating they were sorry that they were unable to at- tend and hoping that the body would have most successful meeting.
 George N. O'Brien of San Fran cisco. then rose and thanked the body for the warm reception which Pres colt as well as the bankers had ten dered the delegates from California. He said that the dividing line be- tween Arizona and California was only an imaginary line at best and that it was losing its significance as dividing line daily. He referred to the great victory of the people of San Francisco a week ago today when they freed the city from the hands of the grating element and assured the country at large that the coming exposition would be handled by worthy honest men.
 '. s. Stewart of Fl PasO, said that in behalf of the Texas delegation he felt delighted to be able to voice the approval of them all by saying that his visit and that of his col leagues had been both delightful and instructive. That he was glad to see Arizona forging ahead in the unmis- takable manner she was now moving and invited the entire territory to attend the jubilee celebration in Fl Paso on the 18th, 2Oth and 2lst of this month.
 P. P. Greer reported that the Tex