Show BANKERS Of OF- OF STATE MEET TO ORGANIZE I Large Gathering Is Present for Opening Address in Council Chamber CITY AND STATE OFFICIALS PRESENT Banquet at the Comm Club Among Features Features Features Fea Fea- tures Planned Utah will trill have navo a State Bankers' Bankers association association asso asso- within tho the next nest few days if the sentiments expressed ea at a meeting of fifty-eight fifty of the leadin leading bankers of the state held in tho ity city council chamber this morning arc to bo ho taken as an indi cation Tho meeting was a harmonious one oneo throughout o h and was marked by a num nuin number ber 01 of excellent et addresses d X A feature et of the tho gathering was tho the number of oi representatives representativE's from tho the various banks of the tho state outside Salt Lake City The announcement was made this mornin morning morning morn morn- in ing that several of the banks of the tho state which had been unable to send senda a representative wished to join tho association association association as as- as soon as it was formed Durin During their stay in this city the outside outside out out- side hankers bankers will be the guests of tho the Salt Lake bankers who havo have promised to leave e nothing undone to make mako their visit a pleasant one Following tho the morning mornin session tho entire del delegation was taken for an automobile ride around the city this was followed by a banquet banquet banquet ban ban- at tho the Commercial clu club This s evenin evening tho visiting bankers will bethe bethe be bo bothe the guests of the local bankers to Saltair Saltair Salt- Salt air where they will take in all of the sights 01 oi of the ine famous lamous lamou resort resort reson after aner which h i I sights 01 oi of the ine famous lamous lamou resort resort reson after aner which h i I a banquet will bo be served in the tho new cafe This mornings morning's session of the tho bankers bank bank- ers was called to order by W. W S. S nick S. S A. A Whitney read the call after after after af af- af- af ter which Chairman McCornick briefly explained the object of the meeting Address of Welcome Former Governor Hebor Heber M. M Wells Wes in his address of welcome to the tho delegates said in in part Tro Tre governor of the tho imp imperial rial commonwealth commonwealth com corn of Utah has welcomed you to our capital city in most cordial hospitable hospitable hospitable hospi hospi- table and enthusiastic language and the mayor of our great throbbing city has las welcomed you again aJain in hearty gracious gracious gracious gra gra- cious and characteristic fashion In all conscience you OU ought to feel feeland feeland feeland and probably you do feel entirely at home now that the tho keys of the city have been entrusted to your keeping and now that the latchstrings of tho the state have been loosened unto you rou but lest there may be a lingering lingerin doubt as aso asto asto to o the real genuineness of or your welcome the clearing house representing the tho dignity dig dig- and majesty and money of the associated as as- banks of this great midland metropolis has delegated to me inc the pleasant duty auty of removing from flom your minds every vestige of doubt or fear or uncertainty as to the sincerity of your welcome by acquainting you with the he fact that oven even the bankers have havo opened their hearts to you vou Could human luman hospitality o o further The most sensitive thing thingS in in the world is money When the financial skies are serene it ventures put out into the he channels of trade out into the highways and byways of commerce helping struggling lin industry building up enterprises of great reat pith and moment I and piling up profits for fortunate investors investors in in- in- in but let a little cloud appear on the horizon if it is no bigger no-bigger big bigger er than thana a mans man's hand and the first thing that money noney does is to seek a hiding place Then we have a stringency ency Sometimes it t is a panic Bankers Banker's Place Important To meet the problems following in inthe inthe the he train of these financial disturb disturb- ances the bankers who are the guardians guardians guard- guard ians ans of the peoples people s money are thrown into the forefront of the conflict The They must be minutemen quick to think an and quick to act It is stated that there are approximately fourteen billions of dollars on deposit in tho the banks of America while the total amount of money of all kinds is not more than three billions It is therefore easy to o see that when all aU or a considerable number of these depositors want their money in in a 3 day or in a month there thero are ire bound to be sleepless nights for bankers ankers No wonder some of us are I It is not necessary to reach a conclusion con con- elusion as to this matter in a moment We want you to take a little time to I think it over We want you to stay with us as lon long as you rou can In Ia the meantime we have provided some Ome diversion di di- I version for you We Ve want you to look about our city and see what a splendid old place it II is We want you to visit our banks and see how solid they are But Hut that is not all Tho The banks would not last a twelvemonth if it were not for the resources and commerce and enterprise enterprise enterprise en en- upon which they rest JJ Mayor Bransford's Address H Mayor Bransford r then h said lr Mr Chairman and n Gentlemen t en I am indeed pleased to meet with you here today and on behalf of the people of this city to bid you a hearty and cordial welcome The The purpose of th this is gath gathering ering to together ether eth- eth er from so 50 many different quarters of tho the state of men who are associated with those various arious interests which lie lieso lieso so 80 close to and upon the expansion of which depends so 50 much the extension of the industrial and the socia social social so so- cial cia welfare of the people of Utah is isone isone isone one frau fraught ht with unusual meaning We We live Jive in in an age of organized effort effort ef ef- ef- ef fort systematic endeavor has taken place in in every channel of human ity sty The state of Utah needs such an institution as that which you propose to establish the great eat and ever extending needs of the community require that our banking bankin institutions which in reality are the nerve centers of the economic organism shall be maintained in a sound and healthy condition it is is therefore necessary that tho channels channels through which circulation proceeds shall not be permitted to become clogged t ed that in times of monetary stringency in one place the whole the whole system shall be in in such excellent control as to at once permit of the desired relief bein being being be be- in ing secured Therefore I again bid you welcome and hope that your deliberations will brin bring forth the very best and anti while you are sojourning in our our city I sincerely trust that you will receive your our fn full 1 measure 0 of Iou the pleasures of life Tho members local I Iam- Iam am sore 5 rc Jj do everything to make your jour mr visit comfortable comfortable com corn and pleasant Governor Spry Speaks Governor Spry said in part paTt I have havo not prepared a set speech I have had hada a set speech that I have havo made to some of you bankers so many times that I thou thought ht it would be bo the tho part of wisdom not to make a set speech this mornin morning I am pleased to see such a body of men gathered in this city and to know the Ob object The e t that governor e has r b brought stated f t that you the together he be was a I firm Srm believer in organization whether it be of finance or labor He referred to the he record of Utah bankers durin during the recent financial stringency ency and said that it had been such that jio no Utah banker nor anyone alone in in the state need be ashamed of Briefly the governor referred to the he resources es of Utah its mines smelters smelt smelt- ers era agricultural and stock raisin raising interests interests interests in in- and closed with the following words The people of the east are beginning beginning be be- ginning to have confidence in Utah They are be beginning to understand that it is a safe place in which to invest their money F. F C. C Jensens Jensen's Speech F. F C. C Jensen of Mount Pleasant replying replying re re- re- re plying to the address of welcome said Mr Mr President and gentlemen of this bankers bankers' state convention permit meat mo me moat moat at the outset to acknowledge the honor conferred in selecting me to respond to I the address of welcome to your city and this convention in behalf of the visiting visiting visiting visit visit- ing bankers of pf our state Today will mark an epoch in in the history history his his- tory of banking in Utah and we we- welcome welcome wel wel- come como the perfecting of a strong stronA central or organization that shall have for its ob object a closer union of good fellowship fellowship fellow fellow- ship that shall bind us together in in one common cause to advance in harmony our allied industry to inaugurate a a. a system of more moro uniform and equitable terms to advocate wholesome legislation legisla legisla- i tion tien that may be bo beneficial to borrower and lender as well that shall encourage encourage encourage I age and give impetus t to tomen men to develop the great possibilities that now lie dormant in our state that may with unstinted confidence reco recognize ize the wants of the industrious and deserving man and be bo guarded against the adventurer Education the arts and sciences the comforts and magnificence of the home are measured correspondingly in the ratio of the stability and soundness of the financial system and the policy of our country and when the heart of the stron strong financial centers is is touched by the enactment of vicious laws law by unwise l legislation that disturbs long on established established es es- es and fixed rules of protection by the changing or attempting to change chane our monetary system then the pulsations of our financial system beat low and all aU be begin n to languish and many dio die then i ignorance orance and poverty follow the tho home is is neglected the boy at college college col le lege e is is called home where affluence and plenty rei reigned ed before there now exists a race for life and saddest of all the tho class that covers the tho poor are the ones that suffer the most i We point with pride to Salt Lake City we sing her praises the world around we admire her great institutions institutions her lier thrift her loyal patriotic men inca tuat are helping her to forge ahead On motion of L. L I. I H. H Farnsworth the following were appointed as a committee commit commit- tee on permanent organization I. I L. L II H. Farnsworth John ree A. A F. F Fleming Flem Flem- jag ing J J. T. T Farrar and W. W W. W Armstrong At 1130 tho the adjourned to 10 io meet a again again a i aill-i q 0 this aft af af- t r |