First National Bank (Artesia, NM)

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FOUR N. M. BANKS STILL UNDER HOLIDAY

Albuquerque Institutions Open On Treasury Order

By Associated Press ALBUQUERQUE, N. M., March 20—With the opening of two banks in Albuquerque today, New Mexico had but four banks left out of its 48 awaiting authority to resume business.

The First National Bank of Albuquerque received word Saturday night from the treasury department authorizing it to resume business today.

With that came authority from the state bank examiner to open the First Savings & Trust Co., a state bank and affiliate of the First National bank.

The First National bank of Lordsburg resumed business Saturday.

Three national or federal reserve member banks now await orders from Washington and one state bank awaits instructions from John Bingham state bank examiner.

The national banks still closed are: The First National bank of Las Cruces, First National bank of Gallup, and First National bank of Artesia.

The state bank is the Merchants' State bank of Gallup.

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The First National bank of Lordsburg resumed business Saturday.

Three national or federal reserve member banks now await orders from Washington and one state bank awaits instructions from John Bingham state bank examiner.

The national banks still closed are: The First National bank of Las Cruces, First National bank of Gallup, and First National bank of Artesia.

The state bank is the Merchants' State bank of Gallup.

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ALL BUT FOUR BANKS IN THE STATE ARE NOW OPENED

The First National Banks at Gallup, Artesia and Las Cruces and state bank at Gallup are the only ones in the state not reopened since the holiday Announcement of their reopening is expected daily. The state bank in Gallup is only awaiting the reopening of the nation n) bank there. The First National Bank of Lordsburg opened Saturday morning, under authority of a license received Friday afternoon.

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MERCHANTS' COTTON CUT PLAN

Simons Urges Last Effort for Campaign

H. Simons, member of the county cotton acreage reduction committee, appealed to chants El Fabens, Clint, other in the and to with in last minute effort to bring the cotton acreage reduction in Texsuccessful close. He advised to call and urge them to sign cotton acreage under the reduction plan. He asked community committees join in the appeal. appeal McDonstate This plan will benefit not farmers merchants McDonald said. will bring $50,Texas during July and August, when cash is needed

GLOBE FLIER IN Capt. Waino Bremer, Finland army officer, who stopped Paso on his flight, today, Amarillo. Capt. Bremer ships his plane across ocean. flying Junker allmetal plane.

PLAN TO OPEN BANK M., July First National Artesia be opened on hundred between July 20 and announced today.

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AROUND HERE By H. S. Hunter

ARTESIA, N. M.—In this vigorous town in the Pecos valley, situated north of Carlsbad and south of Roswell, the volume of business is good. Collections are good likewise.

Federal farm loan collections are 100 per cent, which is decidedly unusual.

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There was the bank incident, which indicates the inherent strength of this community. The First National Bank of Artesia did not reopen at once at the end of the enforced banking holiday after President Roosevelt took office. There was a difficulty, the recounting of which would be involved and tedious reading.

After a short period, the bank was permitted to reopen by the depositors putting up $25,000 and the stockholders a like amount.

The depositors were paid off in 90 days, the whole amount in six months—AND OUT OF NOTES WHICH THE BANK RECEIVERS HAD THROWN OUT!

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The bank—we dropped in for just a word—is getting along nicely under the presidency of T. H. Flint. H. G. Watson is vice president and L. B. Feather cashier. Deposits as of last fall were over $800,000.

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THIS part of the Pecos valley is not irrigated from the Pecos river but by means of wells. These are artesian, from which the town gets its name. Nearly all the wells flow during winter months, some have to go on pump in the summer.

This form of irrigation is satisfactory, and crops ordinarily are large. In the present year, however, the hay yield was reduced somewhat by dust storms. This was offset to a degree by the fact that about 1000 acres were newly planted in alfalfa, thus increasing the productive acreage by that much. There were about 4000 acres in alfalfa, production approximately 30,000 tons.

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Cotton yield is uncertain because of the late season, but may be about 15,000 bales. This is a locality of high per acre yields. Some are almost phenomenal, as for instance that of V. L. Yates who last year harvested almost four bales per acre, while Col. A. T. Woods gathered 192 bales from 89 acres. Part of his land he turned to alfalfa and got four cuttings as the first season's output. We drove through Col. Woods' farm and never have seen finer alfalfa or cotton, clean and heavy.

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In this area 20,000 acres are under cultivation. The state having assumed control of the underground water resources, no new artesian wells may be brought into production unless a corresponding number of old wells are plugged up.

The restriction was made necessary by conditions prevailing a few years ago when indiscriminate drilling of wells was destroying the water supply for all.

About 200 old wells have been plugged. The water level now is five feet higher than a year ago, and nearly half the wells are flowing in true artesian form.