The Kennewick courier-reporter. [volume] (Kennewick, Wash.) 1914-1938, 1919-12-04
BANK DEPOSITS
DOUBLE THOSE
OF LAST YEAR
Kennewick's Two Banks Have
Twice as Much Money as in
November Year Ago
BANKERS ARE OPTIMISTIC


Kennewick's bank deposits for
the first time in the history of
the community have topped the
million-dollar mark and are to-
day double what they were one
year ago.
The November statements Of
the two banks show deposits Of
$1,012,447.2S as follows: First
National, $797,070.0S, Ameri-
can Security, $215,377.20. The
statements of the two banks for
November, 1918, showed COM
bined deposits of $507, ,602.84, Of
which the First National had
$420, ,l72.7S and the American
Security $87, 7,430.06.
Local bankers say that the
present call did not come at a
time when their deposits are
particularly "fat." While the
years harvesting operations are
over and harvesting bills are for
the most part paid, complete re-
turns for the fruit crop have not
yet been received. They predict
a steady increase i'm deposits for
the next few months or until the
financial demands of the spring
work on the farms begins to be
felt.
According to L. E. johnson,
president of the First National,
there never was a time when the
finances of the community were
in better shape. On the whole
maturing obligations are being
met promptly and surpluses are
being accumulated by many of
the banks customers, who in
past years have been borrowers.
s"The business of the community
and by business ] mean the busi-
ness Of the farmer as well as the
business of the merchant, is in a
most healthy condition." said
Mr.. johnson. "The financial out
look, insofar as local conditions
are concerned, is the best it has
ever been. Unless adverse ma
tional conditions arise to defeat.
our hopes, 1 can forsee a period
Of unprecedented prosperity
ahead for this community"
E. J. Armstrong, assistant
auditor of the Exchange Nation
al, who is in Temporary charge
of the American Security pend
ing the arrival Of Charles Wei
gand, the new cashier and prin-
cipal owner, expresses himself
as well pleased with the local f.
nancial outlook. Mr.. Armstrong;
stay here has been prolonged by
the inability of Mr.. Weigand to
secure, his release from his Of
ficial duties as state bank ex-
aminer for Idaho. Mr.. Weigand
expects to be relieved January i
and will come Immediately to
Kennewick with his family.
Edgar F. Averill, agricultural
list for the Exchange National,
has been in Kennewick this week
for the purpose of getting ac-
quainted with the community,
especially the farmer customers
of the American, Security. "It
has long been the policy Of e. T.
Conan, president of the Ex-
change National and also presi-
dent of the American Security,
to make the banks i'm which he is
interested essentially farmer
banks. To that end a portion of
the stock in the local bank is to
be offered for sale to farmers of
this community. My duties are
to help the farmer work out his
problems and projects, but in so
doing / do not attempt to sup
plant but rather to supplement
the work of the regular county
agent. / have great confidence
in the future of the orchards and
the farms of this section"
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