Arizona republican., 1912-12-25
Four Banking Institutions Have Six Millions of Dol lars on Deposit in Phoc- nix for End of Year 1912.
ACCOMMODATIONS
 AND COURTESY
More Than Four and Quar- ter Millions Out On Se- cured Loans Showing How Bankers Believe In Valley.

Nothing shows the prosperity of the city of Phoenix so well as the condition of the banks Their pros perity is the prosperity of Phoenix. The banks of this city have been the friends of the city from the time when money was scarce and credit was of greater advantage than it now is when all is prosperity and pro gress. The banks have stood by Phoenix and the valley, and have done yeoman service in supporting the efforts of the farmers and busi- ness men of the valley in building up what has become one of the garden spots of the world.
 There are number of institution of financial worth in Phoenix that are monuments not only to the city itself. but to the men who have di- rected their destnies, and who now direct them. These men in many cases have been the statesmen who have piloted this section through times of stress. Further than this, many a man in Phoenix and the Salt River valley today would not be in the prosperous condition he is had it
 
 friendship of the founders of the
 banking institutions of the Salt River valley.
 It is not fact generally known, but the combined deposits of the banks of the city at the close of business on December 31, 1912, will show a total of six million dollars. This is a large amount when the census population of the city and valley is taken into consideration. To do the business of a single day in one of the banks alone it is necessary to handle large sums of money. One day during the month of December the Valley bank, one of the institu
 tions that Phoenix feels proud to own, handled as much as half a mill lion dollars in checks notes and cash This in the regular course of busi- ness
 With six million of deposits in this section and with the amount of busi- ness being done every day that is | the habit now, the fact that the se- cured and unsecured ovcrdrafts at all the banking institutions of the city l for the end of the November busi- ness month was very small as a 1 reference to the statements issued i by the banks at that time will show. | In the national banks of which there are two there is a redemption fund i kept with the United States treasur- 4 CT this not being required of the 1 state banks. The small overdraft amount is an evidence of the good l judgment of the bankers.
 f Gf q -pT
 that because there is six millions on i deposit at the banks of the city that
 the six million dollars is lying idle Nothing of the sort is the case This
 would not be an evidence of good judgment. The larger part of this ] money is earning more money. More than four and a quarter millions ot ! it has been used in this section or
 secured loans to improve the valley
 Money comes into the coffers of tho
 farmer for his crops and his profits
 are deposited in the bank.
 This is loaned out to other farmers
 to improve his property whereby he
 can raise more crops and get more
 money, and then his profit is placed
 in the bank and he repays his loan
 Thus it goes an increasing chain.
 It was a gala day in Phoenix wher
 the banks of the city had combined
 deposit of one million dollars. Ii
 will be a much bigger day when the
 combined deposits reach ten million
 dollars. for it will mean the city is
 doing more than ten times the busi-
 ness it did at one million dollars. Al
 ready Phoenix has more than passed
 half way to the goal. already there is nearly half that amount loaned out
 to add to the wealth of the valley.
 Already there are three banking in , stitutions in the city that have eacf more than the million dollars on de 2 posit, the amount reckoned a big one in the days that were
 Another feature of the actual banks of the city is that they are moi , capitalized at great amounts for tho ] purpose of forcing the earnings o the bank and turning every possible cent into the hands of the stockhOld CTS in the way of profits, on the con trary the capitalization of the bank: in Phoenix is humble compared witt some of the capitalizations elsewhere Five hundred thousand dollars vii cover the capitalization of all tn, banks of the city. The surplus il these banks now almost equals th' capital, showing how carefully thu business has been transacted, anC NOW the business of the clients of thu bank is safeguarded
 The prosperity of a city is no bet ter than that of it's banks. and il that Phoenix is fortunate Tn bankers here have demonstrated thei belief in the valley, they are finan cial statesmen, generous withou ! fault careful just and wise in thei dealings with their fellow men, the. have made strong friends and vii keep them because of the exercise q } those qualities mentioned above Il