Imperial Valley press., 1923-01-18
THE BANK MERGER

To gain the full significance of the bank merger
which was announced yesterday, people of Imperial
Valley must in it something more than stroke of
business Probably not many prepared to discuss
ntelgently all of the various angles of the movement
in the direction of branch banking, and it is not
true that one may safely genera1ize the branch
banking question itself for it is contended that varia
tions in the practice bring about altogether different
results in the experience For example it is claimed
that the development of branch banking in California
rests upon quite different fundamentals than those
which have governed the branch banking system of
the Dominion of Canada where branch banking had its
beginning this continent.
And may leave the larger question of branch
banking where those who directing the great organ
ization of which Ell Cenro has become part wish
to have it rest, namely, upon the verdict of the public
after the system has been given fair trial.
But in the decision of the group of bankers center
ing around and tributary to the First National Bank
of Los Angeles to come into Imperial Valley with
branch bank there is significance far overbaancing
anything that may be invo we'd in the proposition of
branch banking as an academic problem, whether of
favorable unfavorabe import for it means nothing
less than hsthat the credit of Imperial Valley is at
. last established
Those who have followed the valleys financial
problems in years past, and still more, those who have
been charged with responsibility for finding solution
of the valleys many financial necessities, have been
made conscious of the fact that, Until Imperial
Valley has not held the unqualified and unshaken
fidence of the great financial interests to whom we
, obliged to appeal. Fear, which is the personal
devil of finance has been present and has contributed
to make every financing operation both difficult and
expensive There has been fear for the stability of
water rights The uncertainty of flood control has
tered in and has added percent two to the burden
of every bond that has been sold. Fear of the
quences of dscords, personal and political, which
at times have waXed bitter and acrimonious has also
had its influence and has made financing diff
cult. whole myriad of small fears, centering
sometimes around technical problems at others about
questions of policy have disturbed the financial
mind and operated to render the Imperial Valley stu
alton more difficult
Now, all this is thing of the past Confidence is
established in Imperial Valley and all its works That
this is made certain by the events of this bank
1 merger The greatest financial institution of the
Southwest has decided to in and pool its interests
with ours Nay, more, it has made interests its
Financers no longer doubt that problems will
work out Indeed they believe that they already
worked out at least that such beginning has been
made in their determination that the conclusion of the
/ matter is no longer uncertain. Imperial Valley,
!. by the decision of the First National Bank-Pa-
!. cfic Southwest group of Los Angeles, is today
\ in strong a position any of the most
!; favored productive sections We allied with
\, sources ample to take of all needs and
part of Of the most powerful and efficient organ
cations the country from the point of view of getting
. things DONE 1t is in fact the beginning of New
1 Era" for this county.