Arizona republican., 1919-01-01
PROSPERITY IN
 1913 ASSURED,
 AGREE BANKERS
Wealth of Salt River Valley
 Will Cause This Section to Be Less Disturbed Dur ing Readjustment Period

The people of Phoenix and the Salt River valley have no reason to look forward to the year 1919 with feelings of doubt concerning the general busi- ness conditions and it's ability to give even a better account than during the year just passed
 This IS the expression of the bankers of this city whose fingers, figuratively, are on the financial pulse the throb- bing of which has occasioned only optimism, a unanimous verdict of con fidence in the ability of this rich val ley and prosperous people to give good account of themselves during the critical period of readjustment following the four years o f war and curtaied business activity. Arizona is too rich within herself say the bank CTS, to be as seriously affected by the readjustment Of business as many other states. Her copper. cotton, cat tie, dairying, and her many other valu- able crops that grow in this great state form bulwark against panic and dis organization and cause the new year to loom ahead, q twelve month of con tinued prosperity.
 Tt is my belief that when the bal ance sheet is drawn for the year 1918. it will be found that Arizona has had prosperous year." said W. H. Thom- son.. cashier of the Phoenix National Bank. This has been accomplished inspitc of difficulties which we had never before faced The government has called on our state for large sums of money 10 assist in financing the
 
 wanting, and in fact has ranked amongst the banner states of the Union in it's response. We have also given cheerfully to all of the various agencies which were looking aft CT the comfort of our soldiers in the field.
 The year 1918 will produce many new problems in connection with the readjustment period which we will pass through. but l believe that the business leaders the nation will guide us through this new period and that, barring a possible temporary uu settled condition, we are facing q period of great prosperity, During the period of readjustment, it would appear wise to proceed with some l conservatism, but in view of the fact that Arizona, and the Salt River valley particularly, is engaged almost en- tirely in producing essentials. it would seem that we can look to the furure with confidence and assurance that our progress will not stop.
 The banking resources of the valley are practically the same as they were a year ago, in spite of the large sums which have been withdrawn for in vcstment in government securities, and the banks are in excellent condi- ton to assist in the forward march of the community"
 Everything looks good for the com ing year. declared Simon Oberfelder. vice president of the national banl, of Arizona, for the simple reason that we are an aricultural community which raises something all the timc and because the prices are Al. Cattle are going higher right along The | dairy people are doing well in fact, ! anything produced here is selling at prices at which no one has cause to complain.
 While it is true that the help ques- tion is somewhat discouraging. vet ! that is being gradually adjusted and i everyone seems to be getting along 1 fairly we'll The outlook in the bank l ing business is good for the year 1919. ] We look for an increase of business. which, up to date, has not disappointed 1 us.
 The sheep industry is one of the 1 greatest things i'll this country" a6ded 1 MT Oberfelder, "and on account of the l favorable rains we have had for tho past six weeks they are able to keep the sheep on the ranges and not have to buy high-priced feed, as they did last year.
 The cotton situation, while not as favorable as people looked for, the price has been very satisfactory and the facilities for handling the cotton will in the future no doubt be looked after better than at present"
 The banks will proceed cautiously during the coming year" said A. T Esgate. cashier of the Valley National blink. The return of peace finds us no better prepared than we were for war. The problems to be faced are as difficult now as they were then. Busi ness must be cautiously conducted during the period of readjustment and until that is completed.
 However, the period of readjust ment will not affect this community go severely. except in the copper in-
  surcd of good prices for farm products for the next season. Locally, the finan cial conditions are better than they were two months ago. This is due tt the fact that the volume of cotton moving to the east is quite satisfac- tory and the money from these ship ments has been used to lubricate the local machinery of trade.
 conditions will no doubt improve still further until the cotton is en- tirely disposed of in the east. The merchants report a good business, ont of the best Christmas trades in years There is d feeling of optimism amons the people. Those who have beer postponing their private affairs unti after the war are now going ahead.
 We cannot overlook the fact tha the government is going to call heavily on us for money in 1919. They arc spending money faster than ever now Although peace is certainly assured we still have the big burden of caring for unpaid bills.'
 The year of 1918 has been pregnan with great anxieties. much grief ant the extremes of joy said Donald Dun bar. cashier of the Central Bank o- Phoenix. Changes in policy and sen timent have been brought about 1T twelve months that ordinarily would have taken decades and centuries. The flu and the war in the harvest O death have garnered those who coulC be spared the least from our homo lY and banking houses.
 We believe next year will be ont of unexceled prosperity. All cloud have silver lining, so let's turn then inside out and have a Happy Nev Year.