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THE AKIZOXA REPUBLICAN, MONDAY 3IOKMXCJ, DKCE3IIIEK . 7, 190S.
mkj mm 00!!fM fk ashishasyeuean-Aere'tno"! i fpSl I' w'4 aangei as low as you please , s fc-JrivvH-Si W0i 6Z&?1 there's no smell. That's v3 5 because the smokeless device prevents smoke or smell j that means a steady flow of glowing heat for every ounce of fuel burned in a PERFECTION Oil Dealer (Equipped with Smokeless Device) You can carry it aboul and care for it just as easily as a lamp. Brass oil font holds 4 quarts burning 9 hours. Handsomely fin ished in japan and nickel. Every heater warranted. .mp adds cheeriness to the long winter evenings, steady, brilliant light to read, sew or knit by. Made of brass, nickel plated, latest improved central draft burner. Every lamp warranted. If your dealer can not supply Perfection Oil Heater or Rayo Lamp write our nearest agency for descriptive circular. STANDARD OIL COMPANY (Incorporated; F- n THE DOCTORS OF BUSINESS (Continued from Pane 1.1 r:i! tll'-llLVll c .. ink ulir.iml, and must important nf all havir.p: i iv -ioii'.-ly ;'.rmil tho treat cr. i i a I nf imlilic cunliili'me then 'i:il'cl tho t-cinijiiercial inti nsts of I this territory to tms through the j aiiic vithoiit niati rial harm. , , I X.it uiiiv .iiil :-t:inil steaililv for ; Li:t: in iii-i .it .i .iii'i ni i iieiiiem "i currtiii-y, anil ; ,).,, (jstra;u:ht business man. hut in -n:ii;-tr.iil"r, ;:i!s ! th, ,rfic"s uf their own liuusi-ch-aning mil tor 'iic same I to v.liii'h'l have aireaily allude,!, the are in-t yrt in j ha uks greatly str. ntrthenoil themselves, tile othi r dav f..r i l"e.r several years various official :her "7. hut from j duties hail brought mo into mre or ation the th it elear T tl.-t i.i.-.t or.iit!o:is last Sei- '1111 '.'.'oiler th- t'-nitorial 1 for sta.ti iirerus rie - ilaies. Ki.ll returns flo'i! the eail ir uieil si.ai'in' i; f Xovi i the il 'ta .ilre.i.l;.' at hard that th- i" will i.e a showinK inr r' .v mi nt o-. er tie shown in the statements of t n ix v. So that, a'thou j.h the Imsiivss i ' i (i t j i j 1 1 i i y . yo.j:' patient a.iin re- ri::i to the figure of spe. i h alreruiy u.--o3- may sti'l lack MU.iewhat of the r oiji.st '.iilih foriiieily enjoyed; 'Ahw tile eoluiiie of hlood may not he ''Hit-' as pre.it. a.'ii' there is. not euile as imicii vir;or as hi fore the puuie. tile r:i; iie-iltii of pr-'sp. rity i-: i i-turnip.: I a ;.ii I !y. As to the hanks themselves, tie:' iast year h is lion one of house (h.inins ami of settinir things in order. Ii is now ;;eea tliat it was a -rood IhiniT that some hanks were compelled hy th i ' rre of circuin-taiu'es to pet hark i-.t tile channel of careful husine.'s. It v.ii! he p lon-r time, let us kucss, he-f"i-' Ari::eria itivlo is will esr iin listen wilii :iivrn':il' to th-- "1 n-tty stories," of speculators who want loans where with to huy stocks that are "sure ta ;o up"; or to boom to townsiies t'-wr. sa'odi isiens: or "ha.t tempo rarily" until that hole in the pnm ml In k of tin hills can he sold at a bis? li'-'ure. It is a pleas-iirc to note now that v.hen ioans are rc iiieste.l f.,r any nti rprise ef a spei-uhuive nature, the Arizona hanker is disp.isi il to ciaim at om e a Mi -sourian nativity. Not sooa aj'ain w ill th'" hanl-: eniii'oye lie j er mitte.' to borrow on the sole sicprity of fiiie i vpi'ctatioris of a business ven t a re. I fi cl that I must conqratuiate the hanks of Arizona that tln-v went throuii the period of stri ss so splen didly. With fine cotiru;.:e in niootini? very adverse condition that arose; witli a r. soureei "uiness and business anility m mana-,-eni nt that has piven j federal Arizona banks a still higher staudinsr I far the s direct touch with the conditions banks hi the territory, and for iriy a'y. ir It has been my privih ere have official suin rvision of terri- ial banks as hank comptroller. And may i.iterest the members of the Arizona Bankers' Association to know that in my judgment the banks of Ari- ioa.i srem-rally are in a more sound condition today than ever hi fore, j I have no wish to imply that con i ditions here and there should not be improved, or that the batik comptroller ! in his examinations finds everything as he should like to find it. 1; it our , ,l.a-:ks are a credit to the territory. ( And it is earnestly hoped that bankers individually, ami your association as an organization, uii! always cooperate I closely v. ith the bank comptroller and ! with th" national bank examiners so i that Arizona banks as a class may de I rcrve to rate with the best and sound f est banks of the I'nited States. This hore is rot immodest or fanciful: for j ii. is iiol o;. an immense oiume 01 i busiie-ss. or by apparently frr. at prof its fur the time beintr. but by the sound condition of their business, whatever it mav be in volume, that hanks are propi rly rated. Jt is unuuestionalile that here, as elsew here, the hankinir business can be laced on a iiiu-her plane, and on a Plane mote satisfactorv to all n.n- - ....,..,1 .....1 ..... .i.i.. .1... , i i ii. w, .iiki riiiiic i ii.iim'' ill mo eiio to both banker and customer, bv a more minute sn; ervision of the busi ness hy those nose duty it is to supervise it. As the machinery h now orraliized. there is theoretically a close and minute supervision of the bank,' business by its officers and directors, and a fairly complete snupervision bv or territorial authority. I!y most important branch of the I I I I supervision falls to the directors. When a bank fails, or even when it finds it self involved in difficulties. It Is usual for criticism to center upon the bank examiner. Hut tho bank examiner en couutcrs.this practical difficulty in his efforts to prevent unwise banking; a transaction of which he cannot ap prove has been consummated, usually, before he learns of it. It is then up to him to do the best he can toward finding a remedy. If it is a loan in which he has no confidence, and it is in such amount that its loss would impair the bank's capital, the bank comptroller (in the case of a territorial bank) may in his discretion order the stockholders at once to make up the loss, lint how is it practicable for the time beitip to assert that tnere will be the loss that the examiner fears'.' There is usually the possibility of a mistake on the part of the examiner in his estimate of tyie loan, and if he is conscientious he wishes to avoid being unjust and unnecessarily harsh and arbitrary. Hut the directors do k.now. or may readily know, before the loan is made whether it is good; or, if it is a safe loan of itself, whether the bank in view of its business generally should make the loan. In short, when a bank finds itself in difficulties it is invariably through having directors who don't direct. It is practicable, I am convinced, to frame a new law that would compel lank directors to perform at least a part of the duties which they under take when they become directors. Uarely. indeed, have our bank officers or bank employes been guilty of crim inal misapplication of funds the en tire history of banklnpr in the terri tory is in that respect most gratifying. Hut hen such cases have occurred that the banks usually was seriously hurt, if not ruined, and great hard ships were thrust upon stockholders, if not upon the depositors. And it has been my observation that invariably all such evils would have been pre vent! d by proper vigilance on the part of the directors. If an embezzlement by a batik clerk occurs, the bank ex aminer finds it our sooner or later, but bank directors can nearly always pre vent an embezzlement. Hank directors who fail to discharge their duties as directors should get off the board and make way for others who will do the work. , It may sound like a radical sugges tion, but I believe. ne ertheh-ss. that t would be wise to have u law requir ing sioci;holih rs to remove without publicity a bank director who has been proved negligent of hisaluties. A prop er feature of such removal machinery uld be notice to tiie stoi kholders and directors as to the allegi d negli gence of a dint'tor, and due proof thereof at a private hearing to be giv en him bv the stockhoiiiers in the presence of the bank examiner. One of the serious problems which confront the federal and territorial of ficers who are charged with the duty f supervising the banking business is I that of making the examinations more if'i'''-t. Undoubtedly the inefficiency of official examinations has been re sponsible in no small measure for failure to bring to light the abuses which ultimately resulted in some of th heavy bank failures in the east. I have no fear that the suggestion of : more rigid supervision w ill disturb any member of this association. The time ' has gone by, if it ever was. when the good banker regarded a visit from the bank examiner a-s an intrusion. The banking business is a public trustee ship. And the banker who has a due appreciation of his solemn responsibil ities to the public is always ready to acknowledge the right of the people, through tileir delegated authority, to fairly supervise the banking business. Indeed, so thoroughly have good bankers come to realize .the wisdom and benefits of frequent examinations, that there is a tendency among them to supplement the federal and state examinations made by representatives of the bankers' associations. For ex ample, in the constitution adopted )c tolier 2fi. Inst, by the California State Clearing House Association there are articles I roviding explicitv for exam inations of the banks which are mem bers of the association by examiners employed by a central board. Such a provision as this would have been con sidered a lew years ago a revolution- THE BEST COUGH CURE A half-ounce of Virgin Oil of Pine, two ounces of Glycerine and a half pint of whisky, mixed, will cure any cough that is curable and break a cold in 24 hours. Take a teaspoonful every four hours. Ask your druggist fur the genuine loach's Virgin Oil of Pine compound pure, prepared and guaranteed by tho Leach Chemical Co., Cincinnati, O. ary proceeding; would have been re garded as inimical to the interests of the members of the association and particularly would have been denounc ed as unduly "luiiui.sitorial" and as an unnecessary invasion of the private business ot the members. Hut it is different now. And why should the members of a bankers' association approve such a plan as has been adopted by the Cal ifornia association? " The very fact that you gentlemen are meeting here todoy as the mem bers of a bankers' association proves your belief in the advantages of asso ciation and cooKTation for you are too busy to give your earnest attend ance upon this convention for its merely social features. Publicity is one of tho most valuable agents of progress. A greater measure of pub licity of theif business, as between banks In other words a fuller ex change of information among fiankers would work generally to their mu tual benefit, and invariably would be conducive Uf better protection of bank ing interests generally. When money is "close" and pretty generally loaned out. it is nothing uncommon for one bank, in order to accommodate its customers, to borrow money of anoth er bank. The borrowing bank puts up as collateral Some of the notes which represent its own loans. Hut what, as a rule, does the lending bank know of I? 3E Bszn Stockholders of the CO. Have Disolved Partnership and Will Sell A.Li. A. m. Ii . COST From Now to Jan, 1st, '09, All Goods Must Be Sold AL! FORMA GO. 19 South Center Street is said or them by the bank that bor rowed? It would at least throw light on the value of notes if the total in debtedness of the individuals who signed them could be known. There seenis to be nothing impracticable in the Idea that your association could es tablish a "clearing house of informa tion." to which bureau there would be transmitted by each bank in the asso ciation confidential memoranda as to each loan of a certain figure and ot all loans in amounts above that figure. Especially valuable would it lie to the banks of each community if they could abate their rivalries sufficiently to join in a system of exchanging in formation along certain lines. In the few months that I have been a bank examiner I have encountered, in note files, notes which never would have been discounted if the banks holding these notes had exchanged information with other banks concerning the bor rower. When a borrower is able to obtain from one bank. In loans, accom- ! modatioris to the full limit of his abil ity to pay. and having exhausted his borrowing ability at that bank is able to step across the stn-et and repeat the process, it proves a regrettable lack of that spirit of cooperation which should prevail umoiitf bankers. And I am not dealing with a hp- , pothetical I'Hsi I could cite striking examples. The banking business ill Arizona ; presents so many gratifying features, j from the viewpoint of the examiner, that I am tempted to go into detail as to some of the undesirable features, but a regard for your patience forbids One of these features is tiie size of loans in some cases. Some bunks place too many eggs irr one basket. I will say somefliing, however, of the over draft evil. I suppose you know that Arizona banks make a most undesira ble showing in the matter of over drafts. Texas alone. I believe, of all the states in the union, makes a worse showing. Full statements of state banks arc not available, and except as to Arizona. I have taken as the basis of calculation the statements rendered by the national banks for September 23. 1!)0R. In this territory the state ments of all the banks are used. Tak ing as the basis of calculation the item of loans nnd discounts in each state and territory and in each group of states, it is found that of the loans and discounts the overdrafts on Sep tember 23. 19S. were: In Texas 7.64 per cent In Arizona 3.3!) per cent In New Mexico 1.1", per cent ' In California 1.75 per cent I In Nevada 1.4S per cent In the New England states noi per cent In the eastern states.. .007 per cent In the southern states.. 2.79 per cent In the middle western states 5 per cent In the western states... l.S" per cent j You of course know, without an ex- hibitlun of these figure's, that the over- draft is peculiarly a western and j southern "institution" but that fact I i furnishes no reason why we should be ' fond of it. As to territorial banks, at ' least, I think we may promise sub J stantial reform. I I take leave to mention one other matter that is riot pleasing from the I examiner's viewpoint. It is found that I the average Arizona banker is too sen ) sitive to the. criticism of the local j "booster." IIe is too often led to make loans or subscriptions "for the good of ; the community." and against his own judgment, simply because some gen tlemen have got together somewhere and resolved that money must be rais ed to promote this or that enterprise "for the good of the town.-' Such res olutions are not always well thought out. Sometimes they are excellent: sometimes they are only too evidently foredoomed to failure. Hut in any case the banker is the first man called upon for a donation, or for a loan that is bound to be "slow" or worse. Never is he supposed to have any choice in the matter. He must "fome through." or be informed that he is lacking in public spirit. I should like to see more independence manifested by bankers In these matters I should like to see them follow their own judgment rath er than the judgment of the "booster." It is of course a good business policy for a bank to do all it legitimately and safely can to advance the materia! prosperity of its community. Hut when a banker has presented to him a scheme for the "public good' which he in sober Judgment finds doubtful, he should have the moral courage to say "Xii." A bank Is not operated for the purivose of booming a community," but its primary purpose, from the evam iner's point of view. Is to safeguard the money of its depositors. We have prepared hundreds of men in Arizona, for this fall and win ter with suits and overcoats and now WE ARE READY FOR YOU We have the largest and finest assortment of Men's Suits and Over coats ever offered to the trade in Ari zona and can please your fancy. An extra effort has been made to show an assortment of $20 Suits Overcoats $20 that will be hard to match at $25.00 to$27.50 elsewhere. They're madein striking fashion, with all the new kinks, for young men or the conserv ative styles for business men. Silk or Serge' linings Hand tailored and with an elegance that'any man will appreciate. Match the Suit or Overcoat with the price and get the whole story. ...... VTAVSSFOfl 53 YEARS rr.-;ci .e'lOWilvl HOW; 3 1- You'll Do Better At Outfitters to Men and Boys an 3E 3E 3 312 The Maud Powell Concert Co. I WILL APPEAR AT The Arizona School of Music Friday Evening, December 11 rpHE Company consists of MAUD POWELL, great est living lady Violinist ; MAY MUKLE, great est lady 'Cello player, and ANNE FORD, gifted English Pianist. Those holding subscription tickets will be given two days in advance of general seat sale to reserve seats. Subscription tickets on sale at Adams Pharmacy and School of Music. Price $2.50. Special ticket to music students $1.50, on sale at School only. A CARLOAD OF C ii S Automobiles We have just received a mobile value in the market carload of Buick machines. It is the greatest auto- today within reach of the average man. NO EXPENSE. EASILY OPERATED. it IS An3-one can operate this machine it will take no erynneer. uuriiuic ii is Deautnui. iet us demonstrate this tJ t to It is power ful- you. Southwestern Auto Company iVW. tJAUUIN, Manager :-: :-: :.: 235 W. WASHINGTON ST.