Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1919-11-04
BANKERS MEET
IN THIS CITY IN
ANNUAL SESSION
Almost Entire Membership
Of Association Present
At Opening Session Yes
terday - Close Today

r . The Arizona Bankers association
opened its sixteenth annual convention
in the American theater building in
this city yesterday morning, with
practically the entire state membership
~ 81 in attendance. The association
win hold a final session at 10 O'Clock
This morning at which officers for the
ensuing year viii be elected.
NJ. !. Powers, president of the Cit
liens bank of Flagstaff, and president
of the association, was in the chair at
both morning and afternoon sessions
yesterday. Rev. w. S. Buchanan, pas
Tor OF the Christian church, delivered
the invocation, and Judge Richard E
Sloan the address Of welcome. G. H
Sawyer, vice president of the Southern
Arizona Bank &, Trust Co, Of Tucson
responded to Judge Sloan.
Recommends Banking Act
Mr.. Powers, in his address from the
chair yesterday morning, spoke on ma
tonal and state financial and indus
trial conditions and recommended the
adoption of the budget system by the
federal government, as making for in
creased efficiency. He indicated thai
Interference by the government in the
affairs of industrial corporations has
been a serious handicap to such or.
ganizations. After presenting figure.
on the output of copper and other min.
erals in Arizona during the last yeal
herecommended the preparation Of {
suitable banking act which will rem.
der banking forms uniform.
Recovering at $3.50 o'clock in tn,
afternoon, the association first re-
ceived reports from the law and pro-
tective committees and the executive
council, and then was addressed b.
Dwight b. Heard, who spoke on "Lont
Staple Cotton in Arizona"
Mr.. Heard pointed out that there
invested in cotton at the present tim
in the world approximately $4,000,
OO0, 1000, and that there are employees
in the cotton industry approximate
100000 persons. The value of tn
land on which cotton is grown, h
continued. has been estimated at IS,
100000 900 by groups of bankers VIII
nave studied this question throug
their istatistlcians.
The World and Cotton
Ninety per cent of the world
clothing IS cotton" Mr.. Heard quoted
In 1900 there were produced 100000
balesi which was increased in 1914 t
2S.S00000 bales. In 1882 there were EN-
ployed 100000 spindles, and thi
number has been increased to 10000,
100 IN 1918. Great Britain is tn
greatest spinner Of cotton in the work.
having 57,2O0OO0 spindles. We hav
a4,50q0o0 and Germany and the res
% continental Europe has 100000
Germany is very close TO US, and be
fore the war was becoming the world
greatest spinner Of coarse cotto
fabrics"
The annual cotton crop OF tn
world is worth $4,000, 100000 in it
raw state, and there is invested /
factoties s6,OO0,OO0.O0O. The value {
the finished product in 1915 wa
$4,000, 100000. In 1900 there wer
produced in the United States 1906
bales OF cotton. figure which in 191
had reached 16,135,O00. Figures lai
year were below normal, reaching
total OF but 100000.
Egypt Our Competitor
Egypt, where long staples hav
been grown for century, is our great
ost competitor. An analysis of Il
soils OF the delta Of the Nile, whe
most OF Egypt's cotton is grown, show
hat Il is practically the same as Il
slluvial soils of the Salt River vale
Egypt had total output Of 10000
rhalaS IN 1914. most. OF which was ma