Arizona republican., 1911-09-28
FINE SHOWING OF
 BANKS OF PHOENIX
MADE A FINE SHOWING DURING THE DULL" SUMMER
 SEASON.
Instead of Expected Shrinkase There
 Was a Large Growth In Deposits.

The following article on the banks of Phoenix, appeared in the September issue of Coast Banker, the leading fi- nancial journal of the west, published in San Francisco:
 Subsequent to the bank call of June :. 1911, Coast Banker in a review of bank conditions in Phoenix, called at tention to a remarkable increase in the deposits in the Phoenix banks since the date of the previous call The state ment was made that the EeXt call would undoubtedly show a large with drawal of deposits. Notice was given that such a condition should not be construed as a bad indication for the reason that during that period of the year many deposits are withdrawn for crop moving purposes and for the an nual vacation season. It is notable fact that no city of the size of Phoe- nix has so large a summer vacation" population. The weather is warm mak- ing travel inviting, and fortunately the country is so prosperous its people can afford to travel. Some hundreds of thousands of dollars accumulated in the winter, and held for that purpose, are scattered over the world during the summer.
 But in this instance your correspon- dent was technically in error in mak- ing his guess. The total bank deposits in Phoenix as shown by the call of September l, are in excess of the de- posits on June to the amount of s96.913.35. the comparative figures be- ing as follows:
 June ' Sept 1 Valley Bank
 of Phoenix s2.O35, ,S45. SC. .s2, 2,1s9.61S91 Phoenix Ma
 tional Bank 1895, ,55O.94.. 1,725,7 ,75412 National Bank
 of Arizona S93,74713.. S72,316.2S Union Bank
 & Trust Co 267,S04.75.. 339.T5l57 Phoenix Say
 ings Bank
 & Trust Go. 175.592. .56.. 205,903.36 F a m CTS &
 Merchan
 Bank Began
 Business, June 17........ 22,110.35
 Totals .s5,26S,5 ,541.24. .s5. 5.365.454.59
 The above most flattering showing was due to some extent to unusual facts. In the first place the farmers of the valley this year began the pay ment of their first large assessment for construction work on the big recla nation project that has brought to this section it's permanent prosperity. Some two or three hundred thousand dol lars raised for that purpose was de-
 ,s, tion representing the farmers. in the various banks of the county, against the day of its expenditure Then the city of Phoenix realized on a bond is sue and deposited the money in the banks. Those two events more than offset the usual summer drain. so the banks as a whole. show larger de- posits than they did at the beginning of the summer season.
 But it is also due to the town, coun- ty, state and the banks themselves. to say that the season has been the most prosperous of any summer in this part of Arizona; that without these unusual incidents. the shrinkage in deposits would not have been as great as had been anticipated, notwithstanding as many people as ever before and per haps more treated themselves tD sum- mer vacations and travelled with mon ey in their pockets.
 A word of mention is due the banks individually. Phoenix now has six banks as against five on the date of the June report The baby bank is the Farmers and Merchants, born June r. On September 1 it had de- posits amounting to s22.11O.35. It is not yet a pretentiOus institution and is doing a nice quiet little business and growing constantly. Its management is perfectly satisfied with results to date and reports flattering prospects. It is filling a particular field by its practice of remaining open until 9