Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1921-11-26
WILLIAM II. WILSON
On PhIIadelphla's Development


"TN VIEWING Philadelphia development
l. in retrospect, both rs to its growth as
a great city Of homes and home owners as
well as q tremendously great industrial city,
rightfully entitled TO be called the Work
shop of the World attention is directed to
one of the greatest factors that has con-
trbuted to make our city pre-emnentiy
successful" says William II. Wilson, for;
mcr president of the Phladephla heal
Estate Board.
The enormous wealth and financial
power of Philadelphia through our banks,
savings fund societies and trust companies.
are largely responsible for the growth and
development of Philadelphia, home: COM
mercal and industrial life during the last
one and half centuries, he said. 1T is
an interesting fact that Philadelphia ranks
second in financial power in the United
States, due to the wonderful accumulation
of trust funds which places Philadelphia
ahead of Chicago and all other American
cities excepting New York.
''The Philadelphia banks and their fnan-
cial ability and preparedness to conceive and
execute operations of magnitude and i'm
portance have been in evidence prior to the
time this Nation became independent of the
parent country. for was it not Robert Nor
ris who provided the funds to carry on the
Revolutionary War that spelled liberty and
freedom at the birth of the Nation! Later,
during the War of 1S1214, we ind Stephen
Girard making great loan to the Govern
mcnt to carry on that war, and again, at
q most critical time in the history of the
country. Jay Cooke, Philadelphia banker,
furnished the means to win the Civil war
that preserved the Union and freed the
Negro from the bonds of slavery.
Aided I'm Recent War
"And during the recent war Philadelphia
financial institutions literally financed the
industries in our midst that were working
day and night to send forth the munitions
of war clothes and foodstufs across the
seas TO hasten the end that victory might
be ours.
Tho potential power and the great posi-
ton Philadelphia holds in the world or
finance cannot be graspcd or fully appreci,
ated without a portrayal OF the tacts that
influence our resources.
"Philadclphia is the focal point for the
receipt of large quantities of war materials
from all parts of the United States and the
world and it is the distributing place for
a multitude Of manufactured products which
90 forth from this WORKSHOP of the World
10 the four corners of the earth. The huge
and diverse business of our 5000 industrial
establishments, with an output OF billion
dollars q year. means a settlement with each
transaction. Then millions and millions OF
dollars are represented by the mammoth
business done by our 90, 900 stores and busi-
ness houses.
"Our financial strength lies in our ability
to finance capital requirements within the
city, such as homes, office buildings, apart
nents, commercial properties and factories,
so that our people may be properly housed
and that our business may develop. Our
institutions have magnihcently aided all OF
these in the past and are now generously
assisting in financing those enterprises which
tend TO supply the needs of our growing city.
"Our banks not only invest in our be-
| loved city, but reach out to the aid of the
marvclouSly rich and wonderful keystone
| State as well as sending their funds through
| out the United States. Philadelphia capital
is virtually to be found everywhere and in
| everything.
THE investment assets Of our large saw
| lngs fund societies, trust companies or life
! insurance companies will show many mil
| lions of dollars worth of bonds, other forms
| Of corporate obligations and stocks in praC-
! tically every railroad Of Importance in the
| United States or Canada.
| MORTGAGES on farm property in the
| Western and Southern part of the United
| States, as we'll as mortgages on central city
| nrOpCrty Of many Of the American cities,
| are among the investments made by Phia =
dclphia capital. Public utilities supplying
| light, water and transit facilities in dozens
| Of towns and numerous large cities are made
| pOssibe by the initiative and funds sup
| piled from Philadelphia.
Have Backed Mine Deals
1.-The gold, silver and copper mines OF
this and foreign countries likewise have
shared IN our money, as have the steamship
lines that plow the rough and trcacherous
| seas.
"Rcalizug the proud possessions of thi.
historically and financially great City oi
Brotherly Love, whose people have the ere,
ativc minds Of genius, it is refreshing tc
recall that we have sent forth over 10C
'frsts' to tho people of the Nation.
among the creative thoughts that have
made New York the financial center Of thC
universe, Philadelphia can rightfuly CLAIM
her lust share of credit, for here the FRS
National Bank in America was founded
the first savings fund society, the first trus
company, the first life insurance company
the first title company and the first buildinl
association. All saw the light of day in thu
Quaker City.
"As real estate man | am not unmind
full Of the wonderful advantages of the hug,
aggregate Of trust funds, amounting to abou
| one billion dollars, which are intrusted 4,