The Daytona daily news. [volume] (Daytona, Fla.) 1903-1926, 1916-04-07


knowledged fact, of which we have the
right to feel proud.
"And now, as proof that we are pro-
crossing in spite of disturbed conditions
abroad let me submit the following:
"At the close of business December 81.
1914, we had in Florida, So National
banks with resources of 500, 229, 100000;
179 State banks; Is State Banking and |
Trust companies; State Savings banks
and Is private banks, with combined re-
sources of S43. 421, 100000; while at the
close of business December 81, 1915, we
had SIS National banks with resources of
SGT, 81 100000; ISL State banks; State
Savings banks; IL State Banking and
Trust companies and private banks
with resources of $44, 40S 100000
.Our total resources at the close of bus
mess December 81, 1914, were, all banks
/ S1G6 $50 600. 90 and at the close of bus
mess December 81, 1915, total re-
sources were all banks s112,379, 100000.
THE matter of bank deposits in our
state shows a gratifying increase. which
proves not only the growing prosperity
of our people, but also gives testimony
to their confidence in our banks. We
find the figures to be:
National Bank Deposits.
Dec. 81, 1914 ................S4 $40 $40. 100000
Dec 81, 1915 ............... 41,200, 100000
State Institutions.
Dec 81, 1914 ............... $29 160, 100000
Dec 81. 1915 ................ 81 993, 10000
IT take it for granted that during our
present session shall have an ex-
preston of views our Federal Reserve
Banking system. [ believe we will come
to realize the great value of the system
and that it will accomplish the purpose
for which it was established. Mr.. JOS A
McCord, of the Federal Reserve bank, of
Atlanta, addressed US at our last annual
session and, among other things, he said,
the Federal Reserve bank came into the
field, helping in a situation where the
banks have left and taken up invest
ment loans and it was for this purpose
and this alone, that the Federal Reserve
banks were created-that of taking care
of the commercial, industrial and agri-
cultural conditions of the country, COM
ing to the relief in panics, when the prod
ucts of the farm cannot be marketed for
want of money, and to aid materially in
marketing the products of the farm I'M
der ordinary conditions. If it accom-
4 plishes this it will have been created
4 for a great purpose, and | hope and be-
\ lieve it will accomplish it. This system
has passed beyond the experimental
stage now, it is here to stay
And now in closing, l want to re-echo
the sentiment heretofore expressed in
this association. Let us get closer to-
the farmer and bring the farmer closer
to US. The original idea of banking
/ seemed to be that banks were intended
4 only to accommodate the business and
j commercial world. We are doing that
now fully and completely. No town Of
any size in Florida, is today without its
bank, either National or state, and the
commercial and manufacturing interests
are everywhere and always in close
touch. but the farmer, he on whom all
the world depends still stands somewhat
aloof | trust our committee on agricul-
ture will keep ever present in their minds
\ the devising of plans by which the bank
er and the farmer may get together, and
: that the agriculturist may come to I'M
derstand that the banker wants to be in
touch with him and wants, as far as he
e may be permitted to help him.
= Il trust gentlemen, our present session
y may be marked by harmony and good
n will, and that we may receive great ben
e eft from it,
G. r. DeSaussure, secretary and
: treasurer of the association, submitted
e his annual report, which contained
e many valuable suggestions. Among
other things Mr.. DeSaussure stated
q that every bank in the state of Flor
t ida should be a member of the asso-
citation He urged every member to
4 consider himself a committee of one
: to see that every other banker be-
comes member. The secretary stat
IL ed that if bankers who are not men,
bers of the organization could but
q realize the valuable information to
r be gained at the meetings that they
would Immediately join and attend the
{ meetings regularly. The financial re-
k port showed the association to have
: substantial balance
+ Reports of the committees were
! then called for by the president, ]. A.
Griffin, member of the executive
e council of the A. B. A, responding.
! Mr.. Griffin talked very ably upon the
affairs of the association and urged
e all bankers to become members of the
association which calls for measures
S which are sound and sane, and dis
!. couraged unsound principles to a great
l. extent. Reports from vice-presidents
: from Florida of the American Bankers
e associations were next in order and
showed the great work of the associa-
d ton and it's possibilities.
i Fred w. Ellsworth, publicity man
l. ager of the Guaranty Trust company
of New York, addressed the conyen-
n ton on Building the Business of the
lie Bank" His talk was very interesting
: bringing out the fact that bank
81 should build its business not get bus
lie mess, which building means service
II to the community and that means the
!. building of the bank and its business
y William Fremont Rlackman 7 D.