St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-07-25
THE CHECK RACKET.

The banks of st. Paul have resolved
not to honorary more checks received
from the country or country banks, and
will hold them only for collection, for
which the usua charges will be made.
Minneapolis banks will continue to
honor such checks. The result OF this
will not help the commercial interests
of st. Paul.-Wright County Times.
1.-THE action of the ST. Paul banks in
|IrefuSing out-Of-town checks with their
customers Endorsement will go a long
way toward decreasing confidence and
Keeping money locked up. Banks
should seek TO ease the times instead
of therwise.-N orthfield News.
Is This seems closely drawn line for
st. Paul banks TO make, and it is Sug-
geStive from the fact that Minneapolis
banks have not found it necessary to
make such restrictions. 1t seems TO be
a9pecullar manner of restoring conf
| denee. IN arshaIl s-Messeuger.
= =, Let the business men of other cities
follow the example of St. Cloud. and the
obnoxious order will be revoked i'll less
than two weeks. Our business men
have nothing to lose, as the Minneapolis
wholesale dealers are just as well pre-
pared 20 serve them as are those of st.
Paul, and the banks of the former city
will accept checks as they always have
| done. Let there be decisive action all
along the line.-St. Cloud Journal
| Press.
The Star-Farmer will do no business
| with st. Paul house that will not take
its check on the Renville State bank
without charging collection fee and
we nope that our business men and the
| business men throughout the state will
stand by the home institutions and boy
colt, if need be, the wholesale houses of
st. Pahl.-Renville Star-Farmer.
st. Pau banks have refused to accept
| state bank checks of either private or
national banks OH deposit, and the
country merchant must pay his city
| creditors in drafts. So far Minneapolis
has not felt that hard pressed, but then
Mime is bigger than her brother Paul.
Sank Center Avalanche.
As far as our business men are con-
cerned, if their checks should be re-
turned by the business men of st. Paul,
II is simple matter to transfer the bus
mess to Minneapolis and Chicago, two
very much more than our State-created
ighbor.-OWatonna journal.
10 person unacqualnted with the
st. Paul methods OF doing business it
would seem that during the present
scarcity of filthy lucre the jobberS of
that place should be glad to take money
I'D whatever form it was sent them.-
CrOokSton Times.
lhe Pioneer devoteS a column editorial
and two columns of local space to dis
! adopted there, while Minneapolis says
| nothing. If the advantage is with st.
Paul it ought not to be necessary to
argue the case so vigorously. Minne-
apOliS does not feel it necessary to say
anything in defense of her practice in
the natter.-Minneapolis journal.
We hear that the banks at the Capitol
city are DESTROYS of making a record"
They wish To pass through the present
stringency without bank failure, aud
this no-check rule is one of their meas
ures in that direction. They may sue
coed we hope they will-but they have
also dealt blow at ST. Paul's CONNER
ciaI interests which it will take some
time to overcome. Minneapolis banks
thus far have not found it necessary to
adopt this rule, and she will be the
gamer. 1t is always well to be cautious.
But it is not wise, in IA time of financial
disturbance, to pursue a course tending
to. aggravate, the trouble and add to
public diStrust. This the st. Paul
hanks haVp done 81 ElOud Times