The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-05-08
SUNDAY MORNING GOSSIP
Olla-Podrida of Notes and Opinions,
with Some Short Stories Thrown In.
Cut in Postal Appropriations and It's Effect
State Rules for Private Banks-Bockis
Classic Design for the Library.

estimates OF the department S13, 0OO. coo had
passed. That means q reduction of II per
cent. and comes at a most inopportune
time. The result will be to greatly cripple
the service. The postal service Is coming
On to be self-sustaining. The Postmaster
general estimates that at the close of the
fiscal year ending June 80. 1893, the receipts
will be greater than the ex pendItures.
This Congress does not desire any such
showing to be made. no n after what bene-
fits might result to the people thereby.
That body of lawmakers thinks 1t sees
political buncombe in an economy that
will injure the postal service.
IF the department. is required to 90
along on an appropriation of that kind ex-
penses will have to he curtailed and the
system contracted. This will come especi-
ally hard upon Indianapolis, where the
service needs to be enlarged. We need
here within the next year at least q dozen
more letter-carriers. The increase in our
business here last year was over Is per
cent, and it will be fully as great this
year. The city is growlng rapidly. North
of Fall Greek. towards Crown HILL Ceme-
terry, houses are going up. ana that terri
tory. from present indications, will soon
be we'll settled. A like condition
obtains to the northeast and to
the southeast sections of the city.
where but two deliveries of mail are made
each day where business is coming in which
entities them to four deliveries daily. /
would hk TO make certain necessary I'M
provements in the collection OF mail, but
they cannotb be entered upon with the pres
emit force. The carriers work on schedule
time. eight hours a day, and they cannot
work twelve or fourteen hours. Ii the
-- ~ ali
have to suffer. New Institutions are
opening up here every day: Sew
eral sanltorIums ave started and
others will start; then there's the new
Surgical Institute. the cerealine factory and
other things, all of which demand postal
facilities. The service must be constantly
improved or it will grow worse. 1t must
not be allowed to come TO n standstill. i
would like TO locate an additional number
or boxes over the city, but it cannot be
done with the present force of collectors.
IF the people of Indianapolis do not get
these things that are needed. together with
q larger force of carriers. it will
not Do my fault. but of q cheese
pairing, Observation-Disclosures
tbe-bunghole Congress. The postofice. If
crippled in this way. by the saving OF S13.-
100000. will DO q money-making institution
which is not to the benefit OF the people.
Improved facilities are wanted, not the
saving of money. The per capita postage
paid in Indianapolis is g. 50. which Is great
er than that paid by Louisville. Detroit,
Omaha. Milwaukee. Philadelphia. Brook
)yn. Baltimore. Buffalo. Cleveland. New
Orleans. Pittsburg. Minneapolis and other
cities i might name. The per capita of ex-
pense here is but q fraction moro than 90
cents
This is o good city for the delivery of
mail. 1t is level. the streets are fairly
we'll numbered and the street cars cover the
city very we'll. running from a common
center. We have some institutions here
that get q largo amount OF mail Pension
Agent Ensley heads the list. as ne gets over
sixty thousand letters every three months,
that's q quarter of a million q year. Then
come j.. A. Everett q. Co., seedsmen, Rail
way Officials and Conductors Insurance
Company. The Iron Hall, P: II. Fitzgerald
J. b. Haywood, Noble c. Butler. receiver of
the American Wheel Company. and then
the various Wholesale and manufacturing
establishments.
State Bank Examiner Teter believes tina
the law of Indiana governing banks should
be made to apply to private banks. He in
inmates that the next General Assembly
will give the subject attention with a view
TO making the extension. The State
banks" said he in conversation with q
Journal reporter. 'are chartered under q
law very similar TO the national banking
law. with the circulation section left out.
The State banks, however. have had q
much better record. There has not been
q single failure in twenty years. and
only one suspension. That occurred
IN Huntington, last year, and when
the directors were called together, they
made up the amount. and now the bank is
stronger than ever. 1t has been something
of 9 puzzle to me why the record of the
State banks should be so much better than
that of the national banks. There are one
OF two features of the State bank law
which are IN IT'S favor. The president and
cashier are required to give bond. while
the requirement. OF BON Is optional with
the board OF directors of a national bank.
And another thing Is, the only control O
6tockhOlder has In q national bank Is in the
election of directors. while In q State
bank any stakeholder has q right at any
time to walk behind the counter and de-
mand TO know the condition of the bank"
Are there many private banks In the
Etatef" was asked.
There are about sixty-seven banks In
the State which operate independent OF
the law. The only safety TO the deposition
Is his knowledge of assets back of the
bank. There are several States which
bring these private banks under State in
spection. and there Is no reason why they
should not be SO treated. 1t Is true the law
makes il embeZzlement to accept n deposit
hen the officers know the bank 10 be IN
solvent, but insolvency may come In a day
or two when the Off Gals are specializing III
stocks or other variable securities. lt is
proper for the State 10 protect depositors
against risky speculation. The greatest
danger In the management of State banks
Is when the directors want to borrow al
fhe money in the bank. This has been the
great temptation In the growing and enter
prising towns in the COS belt"
What Is tie tendency of the interest
rate, and what about the sentiment as &c
free silver coinage among the State bank
ersio
The interest rate is declining. showIDG
that money Ia getting ~plentier and cheaper
AS 10 free coinage. the banker are gen
orally monometailists. without regard u
party. Politics cuts little figure In bust
ness relations. For instance. L tound, II
looking over the affairs OF the Citizens
Bank of Union City. the name of Nathan
Cadw allader. a Republican. as president
and Isaac +. Gray as vice-president."
Us Governor Gray wealthy
Il have no means of knowing. but hav'
heard him quoted sl the way from $4,000
80 Sl5O,OOO. i resume he Is worth SlOO.OCO
He las been interested in this bank wit
Cedw allader for twenty years. and It Is
very solid institution"
=
The indianapolis School Commissioners
have selected n design for q group in ston'
20 be placed upon the new public library
IN the art cant of the day this group j
called classic" One figure represents Lit
s~rature. a youth twelve feet high with
torch. another figure is Art and anothe
Science. In the rear of the youth with tn