The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1893-07-21

The past week has been one of tn
most nervous ones in financial circle
that has been known i'm the Yves
since 1873. There has been no reaso
for the panic on earth except lack {
confidence. People have been readin
the scare talk from the East and a lC
of them got afraid their money WASH
safe in the banks and so they made
run, and as a result number of bank
have been obliged to close their doors
Since last Friday three or four of tn
largest banks in Kansas City hav
been obliged to suspend, and thei
suspension has carried down a lot o
smaller banks i'm the little towns
Fortunately Allen county people hav,
kept their heads, and we have had II,
trouble. Here in lola Mr.. Northru]
has about $4,000 tied up in one of TIN
Kansas City banks, but he has al
confidence that he will eventually re
cover every dollar of it. Mr.. BOwlu
has few hundred dollars similarly
tied up i'm one of the other banks, bu
not enough to amount to anything
Both MIR. Northrup and Mr.. Bowlns
have been doing business here so long
every body has such implicit confidence
not only in their personal integrity
but in their conservative methods and
in their ability to meet all their obi.
cations, that there has been nothing
like a run on either of them. We
doubt if there are two other banks i'm
the State that are as carefully and
conservatively managed, or are as well
prepared to meet panic. And lola,
and the vicinity, is to be congratulate
ed that this is so, no less than the
gentlemen themselves. For there can
hardly be harder blow to the bust
ness of a town than the failure of its
banks. Such a failure means that a
lot of money must be tied up. it means
that the banks must force collection of
their notes and that means that the
makers of the notes must sacrifice
their crops or their property, and that
means that there will be less money
left to buy groceries and dry goods
with. So Allen county is to be con-
graduated that its banks weathered
the storm. The little furry is over
now. Yesterdays papers report that
the men who withdrew their deposits
from the Kansas City banks have al
ready recovered from their scare and
are bringing their money back again,
and the banks which :were forced to
suspend will doubtless resume in a
short time. So we can all quit talking
panic and go about our business as
usual.
Here is bit of admonition from
the Clay Center Times that applies to
lola as well as to Clay Center:
When a Clay Center business man
reaches the last stage of discourage
ment ne should ego somewhere" and
note with critical fairness the state of
trade and finances elsewhere. Go to
Topeka and see the large stores with
many clerks and few customers. Lis
ten to the stories as told by the repre-
of every line of business.
Then diff on down to Kansas City.
There encouragement and despair
Ind voice on every breeze. Failures
are large and frequent. The business
men say to every delegate from the
rural regions: "What is the matter?
When is this terrible state of affairs
going to end?" In three or four days
he Clay Center man will come home
perfectly satisfied to do the best he
Gould, knowing that so many other
worthy men were doing worse. Ag-
'icultural towns are bound to be dull
n the summer, but they recover
quickly. Good, ordinary, every day,
common nerve is all that business
nan in this part of the state needs to
make him the happiest man of his
Kind in the country.
A private letter from Jack Clark.
lated at Tacoma, WASH. reached us
and part of it. we are sure,
will be of general interest. Chimes |
ire very quiet here" he says, land |
would not advise anyone that is
making a fair living to come west at |
his time, as business of every kind is |
'yerdone and many will be forced to |
he wall. The wild speculation that |
las prevailed in this State for several |
ears in connection with the financial
depression that has overspread the
ntire country, has done the work for
hem here, and it will be some time
efOre they recover. Crops look well,
ut are two or three weeks later than
sual. Fruit is fine, saw one straw
erry that measured liz inches in
Mr.. Clark asks to be
indy remembered to all his friends.
If it were not for the personal salts
action there is in it, there would be
title inducement for a man to live
lean and decent. There is a man in
MS town who has lived among us for
wenty years as pure as a woman,
ever a waver in the perfect rectitude
his walk and conversation. But
itely some vicious slanderer has
tarted story that when this man
as away from home a short time ago
e was guilty of the grossest i'm
lorality. And the worst of it is that
,me of those who have known him
" twenty years, are inclined to
link it may be true. The stainless,
nsullied reputation of a whole life
oes not weigh as heavy as the I'M
Imported word of some wanton
iciOus liar! 1t is monstrous.
To Chicago and return for SIS. 40 via
b. Z. and s. F. On July IL the A.
. and s. +. r. r. will sell round trip
ckets to Chicago and return for one
re for the round trip good to (
turn on July 21st, or July 18th. ,
ill also sell at same rates July 9th, ,
,Od to return on August 4th or
ugust 18th. July S1st, good to re- /,
I'm August 18th. L