Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-02-27
MIAMI IS GROWING
IN TOURIST TRADE
City EntertainS More Winter
Visitors This Year Than
in 1929.
BY JOHN F. SINCLAIR.

014AIAAs To-, St.-WltIl LbA
own population not over 10000, Miami
is entertaining another 10000 Winter
visitors. Her streets are crowded even
in midday, when it is customary to seek
the shade. Gay, bright colors are
everywhere.
While thousands are here just for the
fight tonight the vast majority have
been here for several months and will
be for another 80 days. The weather is
perfect.
1--WE have possibly $4,000 to 80, 1000
more visitors in the Miami district this
year than We had last year." SAID
Mayor G. H. Reeder to me while waiting
at the station to greet Gov. Louis L.
Emmerson of Illinois. Miami Beach
never entertained so many people. More
than 100 new homes, costing S25 00G to
100000 each, have been erected on
the beach during the last 10 months.
Not since the hectic days of the boom
have. we had so many people with US
as we have right now
Roddy Burdine, department store
owner. Of Miami. who recently opened
one of the finest branch stores in the
United States in the Mramar section
is not worrying about Miami becoming
an industrial center He believes that
the tourist trade will continue to grow
and be the base upon which sub
stantial industry in this section can be
built.
The aircraft industry, in which from
800 TO 1000 men are now employed, is
really a tourist offShoot. Were it not
for tourists it would be a small enter
prise. But this industry is growing and
viii continue to do so as our trade with
Central and South America expands"
Are tourists spending as much money
this year as formerly?" / asked.
Probably as much money will be left
this year as last. But the amount of
money being left by each individual is
approximately a third less than last
year. Our three stores show that it
takes three sales this year to equal what
two sales totaled last year. Today people
are living on their incomes, not on their
prospects
Our top prices for dresses last year
was $3.50. We sold all we had This
year our top price is S400 That gives
you a good idea of what the situation
is"
Miami is fast becoming a style center.
What is worn in the Winter season here
is accepted by those who set the styles
in the North for the following Summer.
In time Miami may be a real rival in
style setting to Paris and New York.
Mr.. Burdine explained this in this way
Our styles are more and more be-
coming the vogue in the North six
months later Amos Parrish and others
are doing big work in this field. Along
this line there is a substantial future
for us"
1t was Amos Parrish who wrote one
of the most effective short statements
ever penned upon the subject of good
will. Here it is:
1.-THE most precious thing any one
oman or Store), anybody or anything
can have is the good will of others; it
is something as fragile as an orchid,
and lust as beautiful and precious as a
gold nugget and as hard to find; as
powerful as a great turbine and as hard
to build as wonderful as youth and as
hard to keep"
This framed statement hangs in Mr..
Burdines private Office. 1t hangs also
in the Offices of hundreds of other
merchandise leaders throughout the
Nation.
Bank Policy.
The First National Bank of Miami in
the boom days had S75,O00000 in de-
posits. Then some men seeking credit
found it impossible to borrow on real
estate collateral. But banks must be in
shape at all times to pay depositors
money when they want it. So this bank
hEpb It's III CdSl4 anu 0ONC1UulCAb
bonds and on call in New York today
it has about $4,000, 600 on deposit, al
though at one time it went down to
$15,000,000.
Eyes, we had $75,OO0,oOo on deposit
at one time, and we have about $l9,-
100000 now. But we are more liquid
than we were when we had the larger
amount" said E. c. Romfh, president,
in discussing banking conditions in this
section
THE first Job of banker is to pro-
tect depositors' money-hard pressed
prospective borrowers often object to
the implications of such policy"
Discussing general banking condi-
tons, this Miami banker made this
statement:
when 5000 banks closed their doors
within 10 years in the United States
something must be wrong with the sys-
tenn. Not all those bankers we're in
competent, or dishonest. or both. Some
were good bankers. Sc what is the
trouble?
81 believe it lies basically in a faulty
bookkeeping and auditing system. Banks,
both city and country, have been for
long time handling our various services,
without cost, providing only a customer
has small deposit in the bank.
But why should bank do this any
more than any other business? You
come in and ask me today for hun
dred dollars and you give me your check
on New York. I give you 500 cash, but
your check do not get cashed for four
or five days. Why shouldn't you pay
the interest involved on that item dur
ing that period and also the cost of
handling that item on our books?
Par Collections.
''When the par collection of checks
was inaugurated by the Federal Re-
serve the back log of the country bank
was taken away. The country banker,
who had made a considerable part Of
his overhead in this manner, found
this means Of revenue gone. What did
he do?
what would you do?
HE increased his local loans in order
TO bring in larger revenue so as to
make more money.
Then when times got hard in his
local community and depositors wanted
their money he often found himself
unable to accommodate them, because
his local loans could not be turned into
cash and his bank closed up. I don't
think enough attention has been PAID
TO this problem of giving the banker,
especially the country banker, compen-
sation for this definite service;
Make that point specific. Mr.
Rc.nfh," said.
"Well, we put in service charge OF
81 a month on all accounts which
order to make up for the exchange loss
but in checking our books we found thai
many Of the smaller accounts made u
90 the most work. We were doing al
of their bookkeeping for them and il
was costing us more than 81 a month
in most cases. So what did we do?
I'VE raised the service charge to S.
Ill