Weekly journal-miner., 1911-10-04
(From Tuesdays Daily)

opened at the Yavapai club yesterday morning. Representatives of bank ing institutions from all over the territory as well as coast and eastern cities were present. After a prayer by Rev. J. Redwood Jenkins, R. N Fredericks, president of the Prescott National Bank made the address of welcome and N. E. Plumer, of Tue son, responded MT. Plumer respond ed in behalf of Albert Steinfelt who was unable to be present.
 Address of Welcome.
 ''It has been the custom from time immemorial, upon occasions like the present, to choose some one to act as spokesman on behalf of the hosts for the time being.
 "Why this duty has been assigned understand unless 1t be due to the fact that the committee having this matter in charge, deemed it fitting to have its performance delegated to one whom the members of this asso- citation honored years ago, by elect ing him as their first president.
 "On behalf of the bankers of Prescott, I extend to you a hearty welcome; on behalf of the Prescott Chamber of Commerce, composed of two hundred and seventy members, the strongest organization of its kind within the confines of our geOgraph- ieal subdivision. I bid you welcome to the city a Mile High, designated by said association as 'The Place to Live;' and by request of the mayor, who is also the able and efficient secretary of the Arizona Bankers Association. I extend to you on be half of the citizens of Prescott, the right hand of fellow and cOmrade- ship, the freedom of the municipality, and bid you a sincere welcome to the "Queen City, of Northern Arizona.
 "The proper committee has Outlin- ed a program for your entertain ment which we trust will prove pleas ing and interesting to all. Several auto rides over the loop and terri torial highway are arranged for. to show you some of our beautiful mountain scenery, and good roads, and. those of you who can spare the necessary length of time and do not mind a little severe iolting and fa- tigue, may participate in an auto trip to the Grand Canyon of the Colorado after the close of the con- ventiOn.
 "In conclusion. permit me to ex- press the hope that your annual ses- sion, now abOut to convene. be a sue cessful one from every point of view, that you may carry with you nothing but fond reeolleetiOns of your brief sOjourn among us. SO that upon parting we will not bid each other good bye, but simply say: "Auf Wiedersehn.'
 President Spangler's Address.
 "Another year in our history is about to pass and we are meeting for the second time n the beautiful city of Prescott, where the first bank in the territory was established in 1877.
 ''The past year has been the great est in the history of Arizona, the taxable wealth has increased from SC million in l9lO to 9S million in 1911 The tax rate has decreased from 70 cents in 1910 to 65 cents in 1911.
 "The bank surplus and capital has increased Ss26,7Ss.2S; loans, dis counts. stocks and bonds S2.034,65L99; cash and sight exchange S70s.40776; deposits $2.475.215.64, making the to- tai resources $2.979, ,S9O.O9 greater than the previous year.
 "The past year has seen the eul- imitation of statehood and the com pletion of the geratest irrigation pro feet in the world.
 "Banks should make an effort 10 l advance the education of the farmer, cattle and sheep grower and in fact every producer of wealth from the ! oropnd. to make their labors count more. I deem it highly important | that Arizona send delegate to New Orleans during the American Bankers convention where legislation looking directly to this issue will be dis l cussed and formulated.
 "I wish to publicly extend my | thanks and appreciation to the diff ferent members of this association and commend the untiring work of our faithful secretary, Morris Gold water. in aiding me at all times with the work in hand"
 Secretary Goldwater's Report.
 The seeretary's report shows that there are at present thirteen Arizona National Banks, thirty-five Arizona State Banks, twelve Arizona Branch Banks, and eleven Foreign Banks which are members of the Arizona Bankers association, a gain of six new members to the association dur. |