Arizona republican., 1919-11-01

this valley five year cago of only
'Sl2 600 600. This year the revenue from
the crops will reach SS5,00000O or
$40 600 600 an increase of more than
900 per cent
But the greatest gain Phoenix has
made in five years, Mr.. Welch de-
clared was in the awakening Of her
civic spirit. Thereare more men, 10
to !, Mr.. Welch said, taking an interest
in city, state and national affairs in
this city today than there were five
years ago. This, the speaker said, was
what has made Phoenix the city it is
today and what will make it the far
| greater city five years from now.
Coming down to actual dollars and
cents, William H. Thomson, vice presi-
dent and cashier of the Phoenix Ma
tional bank, gave some real evidence
of the growth Of Phoenix and the Salt
River valley in very recent years. The
figures he presented yesterday were
for only the past two years. but they
were ample to show the remarkable
advancement of Phoenix in a financia
way.
Unprecedented Act by Banks
Unprecedented in all the country:
DaNhllS NlSlOIA. MI. lllbAllSOn Seilh
was the action of the banks of th'
Salt River valley in 1918. when uneasi
ness had arisen among the farmers
and business men as to what the bank!
would do in the cotton situation. Cot
ton was a glut on the market. TIL
! gins were unable to handle it, and tn
farmers and business men were almos
at their wits ends.
In this extremity. the speaker said
: the banks of the valley got togethe
and organized the Maricopa Count,
Bankers association. This associa
ton decided that the banks Of thi
valley would take care of the cottol
situation. Therefore, they loane'
money on seed cotton. no matter wher
it was stored. This, Mr.. Thomson SAID
was an unprecedented action. 1t neve
has been done anywhere else.
All those dark clouds are gone, how
ever, he said, and the situation
1 bright indeed. The business men an
y the farmers can count on the bank
= to do their part, the speaker said. The
are sailing along fine.
War Over, Deposits Jump
In November, 1917. the total deposit
, of the banks was $12,317OOO. The mex
year, in spite of the dark days of tn
war and the large amounts of none
sent away for Liberty bonds, the de
posits aggregated $11,56S,000.
Now, with the war a thing of til
past. the deposits of the banks {
Phoenix alone showed a total of s14
796,1S5. The total deposits of the tie
banks outside of Phoenix had, in Nc
vember, 1917, deposits of s2,707 900,
4 the same month of 1919, the deposits {
those banks aggregated $4,017,962,
gain of more than Il per cent.
The total deposits of all the bank
I of the valley in 1917 was $15,025,S1S.
1918 these had grown to s1S,S14,14
I And if a call should come this mont
( for a statement of conditions it woul
show further increase of at lea!
100000, Mr.. Thomson declared.
The total increase in deposits in II
valley in two years has been 25 p'
cent, and in that time the valley he
paid out for Liberty bonds the b
sum of 81 $50 $50, Mr.. Thomson adde
Prospect Bright
The prospect is so bright, the speak,
said. that It is hard to estimate VIII;
the future will bring forth for this eli
and valley. The assessed valuation
the county has increased in two yea
from S79,OOO,O0O to s9S,O0OO00.
AS favorable as these figures appea
Mr.. Thomson said, he expected TIL
by the end Of the cotton picking Sc;
son that the deposits of the banl
would show a further increase
$4,000, 900 or s5,OOO,OOO. There need !
no further apprehension in regard
the financial condition of the vale
The banks are able to cope with ar
that may arise, the speaker stated.
\ Guy p. hewitt was chairman of Il
day.
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