The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-05-06
DENVER BANKERS
TULSA VISITORS
Amazed at Stability Of
Business in City and
Adjacent District
PRICES TO GO LOWER
DO Not Believe Bottom Has
Been Reached-Look for
Rapid Readiustmcnt

That prices have not set hn bot.
tom and thHt 70 is going to take ai
least u yctr FOR Iuaiutaa o. ADJUST
Itself a. really normal baHlN is The
heller uf james \ wright vico
prcsidcnt of the Bankers Trust
Company ~ Denver, who. with d
group uf officials NJ that institution
has been spending several days iu
Tulsa investigating tho feasibility "i
extension of their iutcrostn into this
territory by buying Tulsa frcuriti"H
and blil ttNca with NJ wright arc
k. A. Kennedy ana n T. I",h, as
distant vice presidents ana Allen Her.
rict advertising manager ~ tho
tiuat company. Tho party loft Tulsa
Thursday AT noon Tor Colorado.
tfphoidiug hls contention that. al
though the cruz of the readlustmcnt
period may he safely pnsHcd, there is
suli % great deal to bc accomplished
In tho lcvcling Of llylng costs that can
not be- accomplished within few
months Mr. Wright pointed out
that some commodities have failed
10 follow The general downward
trend there can he no return so
normal until labor readIustmenta are
made. and as yet there has been no
material cut in labor costs. IN i9cn
yer, for instance, tho banker stated
60 per cent OF the cost ~ building
Just now is ia tho labor. for that
reason the construction OF building
on n big scale ls being delayed untll
labor and material costs Hrc more
nearly caualized Thus far the farm
or has had To- bear. to u certain OK
tent. tho bruut of iiving costs cuts:
cattlemcn and aRriculturaiists ~
Colorado and surrounding territory
have been fairly hard hit but backed
financially by the banks. they arc
confident that with another crop or
two they will he on their feet again.
on Has Helped Colorado.
Contrary to general BELIEF. Colo
rado is by no means state OF mines
and mountains. Mr., Wright stated
II ia essentially an agricultural state
and II owes It's prosperity to that
fact. While mining production Il
still very materially cut the indus
Try is fairly active and the gold
bonus bill now pending which. "
appears now, will he passed. IL go-
ing To mean ~ great deal 10 the
precious metal mining industry OF
Colorado, OH is not, as secms tu
he the Efnerpl impression, a Colora
do Industry. but tho wyoming oil
interests have established head
quarters In many instances I'm Den
vor; in fact Denver has now 90
mniiouaires mado by wyoming oil.
Tho First National hank building
Donvers largest building. is owned
by the Midwest Refining company
In connection with oil, Mr.
wright whose visit to Tulsa thi'
week IN his first one. said that al
though Tulsa may have been Mt it'
inception n boom town built on oil
he did not consider II ~ all a boon
town now.
Amazed at business In Tulsa.
~ am amazed" hc said. lat tn,
stability and tho sizc OF your down
town business district. at tho sp en-
did architecture OF your business
houses ana your residences; Their
are no finer buildings. nor archltcc
ture In better taste anywhere than
for instance, your sinclair buildinR
First National and Exchange Ma
tional bunk buildings There iE on
thing that has Impressed me abUu
Tulsa Az opposed To conditions OK
isting In Denver. \thcrc we buil'
our homes IN the country, 80 Il
speak. and tho city builds out 4
them Here, "a u seems tu us Ii
our brief observations of your city
tho city builds and homes follow II
Wherever there is building, It is
compact part Of tho city, whcrca
IN Denver there viii be on one sd
~ the street, perhaus brildlug "u
while the other sido will he Jus
country. ! am uncertain IN my ow
mind as to which IL the better pre-
coduro for city building, as hot
methods scom to have worked
am frank to say that had cXpectc
TO find Tulsa moro OF a fronti'
town; | was wholly unpreparcd fC
the splendid city that you have her
II is generally true that whorovC
"A city has had a phenomenal growt
such as Tulsa has had, there folio
"a period OF depression. this CONT
from two things s--ovcrhuilding IN
city and lack OF diversified interest
From whA, ! gather Tulsa ~ N,
content with being an oil city R.on
and is taking advantage OF the OF
portunities along other Ines for Il
Justification of Industries, This vi
NJ ~ " II