Arizona republican., 1912-05-18
Judge William A. Day and Party Are Entertained at a Luncheon
 Yesterday
VIEWS EXCHANGED
 BY BUSINESS MEN
Interesting and Instructive Addresses Delivered by Several
 Speakers

The magnificent dining room of the Hotel Adams was yesterday the scene of q luncheon attended by business men, some of this city and some of New York, at which affairs relative to the future of the valley and it's needs were discussed from the standpoint Of men who are in touch with the larger circumstances of our business life. These men brought to the discussion of these topics d degree of expert knowledge, that made their utterances of unusual interest and value; and they gave d few pointers that if followed cannot help but rebound to the good of the valley and to the good of everybody concerned in it's welfare.
 The luncheon was given in honor of Judge William A Day president of the Equitable Life Assurance So- ciety of New York Henry L. Rosen- field, also of New York, assistant to President Day: and | $. Henthorn. Judge Days private secretary.
 The luncheon was preceded by a drive over the valley and was fol- lowed by another drive through the city when some of the business houses were visited. The visitors were naturally impressed with the ev- idences of progress and development revealed by these trips.
 The first speaker at the banquet was w. j. Murphy. generally recog- nized as one of the soundest busi- ness men of Phoenix. MT. Murphy spoke of the prosperity of the val lev lI aT itC history. He said the thing essential to the success of the farmers and of all lines of business here is capital more money at a cheaper rate
 Judge Day was the next speaker and his talk was a most enjoyable and instructive one. He outlined the great work in which he is engaged as president of the largest life in- work. he said. consists peculiarly in safeguarding the interests of the pol icy holders of his company He said he regards himself as their per sonal representative; and that in in vesting their mOney-the money, in many eases, of widows and orphans it is always his aim to regard safe ty as the first consideration. We Id 2 IilN tSltu IdI SC dlIlOuIlS lii lllIS. state" Judge Day said, and we ex- pect to make further investments here All we ask is a safe invest ment and the protection of reason able laws. If you have the invest ments to offer and if your laws are framed justly and equitably there is no question but capital will come to you
 What we want is long time in- vestments that are safe. We are not looking for fancy returns and We don't care for short time loans. Our investments are never made on a speculative basis
 One of the most interesting features of the judges address dealt with the scope of the EQuitable's business. He called attention to the fact that this great company is doing business in every civilized country in the world But though we have policies in force in all countries he said. "our in vestmcnts are all made in the United States"
 'I never sign voucher" Judge Day said. but I feel a deep sense of responsibility"
 In speaking of local conditions Judge Day said that the people of 1 the Salt River valley are entitled to encouragement. He said he was sur ! priSed at the evidences of progress l here-at the great work of retaining | the desert. And there is one thing to which I desire to call your utten- l tion," the judge said and that is l that the Equitable has put much more money into Arizona than it has
 taken out. We have, for one thing helped build the railroads that are helping develop your state" | In speaking of the work of his com
 pany in the field of finance Judge 1 Day called attention to the fact that
 the Equitable. during the panic of 1907 loaned $12, 100000 to it's policy holders and an additional $5.00o.000
 to persons who were not policy hold CTS
 It is well known fact that Judge Day is one of the men who negotia- ted the purchase of the French hold ings on the Isthmus of Panama before
 the commencement of work on the canal, and went to Paris to nego- tiate for the transfer of that prop erty
 "On that trip" he said. T learned
 that the American people are able to do work cheaper than anybody else in the world While in Paris I asked those people how much money they had spent on the work; and they
 told me they had spent 5OO,000,000 in doing 20 per. cent of it. We are . 1 i on, dl