The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1890-06-08
WICHITA AS A BANKING CENTER.

The EAGLE has often, and with pride,
called the attention of its readers to the
very friendly rivalry between our bust
ness men, and we now repeat, that there
is no city in the country that can claim
:, many high minded, public spirited,
and unselfish business men as can Wich-
tia, and the willingness Of her bankers,
especially, to always lay aside petty
jealousies when the interests of the
city were at stake, has been the subject
of much favorable comment. That
these same bankers intend to make for
Wichita a reputation as banking center
there can be no doubt.
AS will be seen by sworn statements
recently published, the deposits in our
banks, by out of town banks, have greatly
increased, and with the development of
our wholesale, live stock and grain in
interests, such deposits will prOpOrtiOnate-
ly increase. Our banks are prepared to
handle at par, all items so handled by
the Kansas City, St. Louis or Chicago
banks, and have all the facilities possess
ed by the banks of either Of those cities
for the accommodation of their customers.
Wichita being two hundred miles near
er the southern Kansas banker than any
of the Missouri river towns, a great many
of these bankers have already found it
convenient and profitable, to open and
maintain Wichita accounts.
As a matter Of convenience to parties
transacting business at the Union Stock
Yards, and for the accommodation of out
OF town bankers, when our live stock
and packing interests grew to such pro-
portions as to demand it, five of our lead
ing banks, with characteristic prompt
ness, effected joint arrangement,
whereby deposits might be taken for
either of them at their branch Office at
the Union Stock Yards Exchange build
ing. This arrangement has not only
proven a matter of great convenience,
but entirely satisfactory to the projec-
tors.
Our incorporated banks have a full
million and half of paid up capital,
with larger line Of deposits in proper
ton to capital, than have the banks in
any of the foremost cities of the state.
In this connection It should be stated,
that while our bankers are accommodate
ing they are alike conservative, and as
further evidence Of the correct business
methods of our bankers, and in proof of
their absolUte7 conservatism, we quote
g,.,.,, , l,4+,. v,-;tto,, ~ +I,o ,,ro-i l,,,+ &c
our clearing house, association, which
letter is self explanatory, and was pub
hshed in the columns of the journal to
which it was addressed.
''WICHITA, Kan, Oct. 4, 1889.
Publisher Financier, New York City.
Dear Sir: In your issue of October
/, appears an article highly compliment
tary to the Buffalo banks I'm adopting
a settlement of exchanges on a currency
basis and stating of all the fOrty-two
clearing house cities, only three thus far,
New York. Chicago and Philadelphia
have adopted the only true method of
settlement. This places Wichita before
the public in an unfair light. Our settle
mentS are made each day in cash, and
have been so made since our clearing
house was first organized. We endorse
the ideas expressed IN your article, but we
do not feel that our clearing house should
be advertised as conducting business on
anything but business principles, and
would be obliged 10y your making proper
correction IN your next issue
Thus il Is, and thus it has been. that the
Wichita banker is ever ready 10 apply
strictly business rules to business mat
trrs, and as will be seen by The foregoing
correspondence, Wichita was first among
the smaller cities to adopt what the
"Financier' was pleased 10 term it, the
only true method of settlement.
With such characteristics on the
part of our bankers, aided by
the confidence of the business
public generally. and hacked by
a people whose highest aim is to build up
our city and state, in the center Of one of
the greatest garden spots on the Ameri-
can continent, with railroads already
reaching out in ten different directions,
carrying to the interior our merchandise
and dressed meats, and bringing TO our
market the products of the richest soil on
earth, with our wholesale and live stock
positively and our grain trade practically
assured, and with the knowledge of the
conservatism, wisdom, perseverance and
financial resources possessed by our home
bankers, can any one doubt the idea
that Wichita viii rapidly develop into
a great banking center?