St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-08-01
THE CHECK CYCLONE.

The recent rule established by the St
Paul banks, refusing checks from local
banks. is working disastrously to st.
Paul.-Cottonwood Citizen.
The recent action of the st. Paul
banks in refusing to take checks on
local banks has aroused storm all over
the country.-Todd County Argus.
Merchants and others throughout the
state take exception to the action of the
st. Paul banks in refusing TO accept
checks on out-of-town banks.-Little
Falls Herald.
They realize in st. Paul that mis-
take has been made, and a general pro-
test against the arbitrary action of the
banks is being made by business men
and newSpaperS.-St. James Journal.
There is good deal of hard feeling
throughout the state among business
men toward St Paul for the action
taken there on the part of the banks of
that city not to accept checks issued on
country banks, except for collection
Carver County News.
Ii the country banks were going to
smash with the rapidity of city banks.i it
might be Justifiable precaution for city
banks to refuse to accept checks of coun-
try customers, except for collection
Ortonville Herald-Star.
No Cokato business man should deal
with house that will not accept checks
on the State Bank of Cokato without
collection fee. Leave st. Paul whole
salers severely alone until they conclude
that your checks are good enough Tor
them.-COkat0 Commouer.
Several firms in st. Paul whom we
deal with have sent us word that our
check will not be received, we must
send postal note or money order. We
wish TO Inform our SOrrowing friends
that at present we are not sending out
any checkS.-Jackson Republic.
The st. Paul jobbers seem to be up
holding their banks in their penny-wise
policy, and our business men who have
been patroniZing the St. Paul whole
salers are now turning their trade to
Minneapolis. st. Paul will suffer for
this eparture.-An Herald.
If those st. Paul wholesale magnates
check, you know Chicago, Minneapolis,
and lot of other cities will be pleased
to do business with yOu-even on
country banks check. Don't let them
twist your noSe.-EvanSYille ENTERPRISE.
If the country banks should unite and
Sby way of retaliation charge exchange
upon every st. Paul cheek presented
over their counters bowl would 90 up
equal to all Iowa cyclone. 1t will come
to this eventually if the bankers of that
city persist in their suicidal COURSE
Hastings Gazette.
Until the st. Paul banks repeal their
existing manifesto that no country bank
checks shall be received ouly for cGllec-
ton, the country merchants should give
their patronage to Minneapolis, and I'M
doubtedly will do so. st. Paul is acting
as hog Ill this matter, and should be
so treated. Wright County Times.
All there is to it, country merchants
must demand that wholesalers force
their banks to terms. They can do it if
they will, and if they don't do it, and
that very soon, the wholesale trade of
st. Paul will take big drop. Country
merchants will trade where time-hon-
Ored and convenient business methods
are recognized. and that does not APP
pear to be i'll ST. Paul.-Wayerly 1rib-
une.
We notice number of our exchanges
are jumping onto the st. Paul banks
and wholesale men because they refuse
to accept personal checks on country
banks. We find upon inquiry among
our banks and business men in Alex
andrla that they are satisfied with the
new arrangements. So far as the cOun-
try banks are concerned they are the
gamers by ii, and much prefer the
draft system. And 50 far as the mer-
chants ale concerned, they are satisfied
to send drafts.-AleXandria Sentinel.
We have been notified by our credi-
tors IN st. Paul that they will not re-
celye checks on local banks in payment
OF their demands. We are not concerned
as We have suspended payments by all
kinds of means for the time being. But
when we have settled our balances the
business houses of ST. Paul will accept
our checks Oh the local banks or they
Will go somewhere else. 1t is a piece of
lmpudent Imposition for the banks of
81. Paul to make such a rule, and the
business men OF the city will serve their
own interests ii they continue to accept
local checks as heretofore. Norman
County Herald.
Heretofore ST. Paul, Minneapolis and
few other Western city banks have
accepted checks of individuals, firms
and corporations as cash, and without
charge for collections. Banks of older
and conservative cities do neither. Such
checks are received for collection, and a
charge Is made for collection. BY this
method the bank assumes no risk of an
individual or firm falling before returns
come from their checks, and it gets
compensation for the work of collecting.
The st. Paul banks have all ceased
doing business on the former basis of
uncertainty and liberality, and now
conform 10 the business methods of
older cities. Certain Minneapolis banks
have adopted the same methods, and all
will soon, though so quietly as to allow
st. Paul banks to receive all the cursing
of the dissatisfied customers Marshall
MpcSunnar