Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1894-05-10

tine United States comptroller or IN
currency,and no officer Of bank shoui'
he permitted to borrow money from
the bank. No dividends should b.
paid untii rs net earnings were al
least per cent OF its capital.
The speaker showed by figures thai
state bank is more profitable thar
national bank with the same capital
as there IL no purchase of government
bonds at a premium under the former
system. The national bank act was
not passed for the purpose of sup
plying the country with money, but "a
sell government bonds. Every ma
uonal bank we organize we send more
money out OF the state than we receive,
! national bank notes are not elastic,
but contract. The national banks OF
this state have far more money In
! vested In bonds than they circulate.
IL is difficult 10 initiate state bank cur
rency' so long as II can profitahly
employed In the commerce OF the coun-
try and has an adequate means Of
redemption. n such a system Of state
banks had been In existence twenty
years ago I do not believe that we
would have had financial panics All
correct financial systems must be bas-
ed upon wealth and not upon debt.
Bond interest is ininical 10 the In
terests Of the country. and no bonds
ment Of our national debt.
The address was referred and order
ed printed In the minutes.
Facts and Figures.
The paper OF Mr.. c. II. Silliman OF
this city on Texas as a Field for In-
Nestment," was read by Secretary
LonBmoor. as Mr.. Sllliman was una
voldably absent.
The paper showed that the cotton
a IA FguttH Ia
that OF the United States. and that
the cattle interest was valued at tl0O,-
100000 more than that Of any three
cattle states combined; no other state
can show equal mineral resources;
we have thirty-one railroads, operating
more than 10000 miles of tracks. Real
estate. mining, manufacturing and
banking ofrer special Inducements for
Investments. Real estate is the basis
OF all value and our agricultural
lands in the "BlaclS belt' have been in
good demand, Notwithstanding the
stringency of the times. The increas-
Ing demand for small farms render
this class OF investments desirable.
The returns may not be so large as
In cases where there Is greater risk
but the investor has something tam
gibe.
The cotton mills OF Fort Worth Dali
las. Galveston and other points, have
vapIcnf ,,nf,,,.. 49,, =, ,,a,.,,.. = -.
factory dividends and / Soc no reason
why there may not be $40 900 0O0 or 500
0O0. 900 more Invested In these indua-
tries. Investments In saw mills are
also profltabIe and orr go,yerinfr Nils
are also sources Of good Investments.
The Fort Worth STOCK yards have 5UU
acres OF grounds ample for all pur-
poses. and owing 10 our nuO climate,
cattle can be raised here 20 per cent
cheaper than elsewhere. Cattle can
be shipped more cheaply to New York
rom This place than from Kansas
Wy. Ihe Fort Worth packing house |
~ me largest institution Of the kind |
~ the South. Fort Worth has the |
In The state. We have coal, gypsum. |
granite and iron mines all profitable. |
our transportation facilities are in
creaslng, we need more Wholesale
houses Many banking firms have
, ai , iortuneai some are making as
hlsh as 20 per sent profit, but the ay-
arage Is about and s per cent
The paper was ordered printed IN the
minutes
The association adjourned untu IN
o'clock ms morning, after which the
Inomb ers visited the Union Stock yards
ihu MOTEL They We're shown around
me premises, after which luncheon
was served.
Current Notes.
Mr.. A. S, Reed of For, yvor,h Win
ssc , pspvap,,,.y oe elected president
e-aiertcd ~ ha, sf,,,t m'ii ~ uoupt oe
III ~ Wy thlru term
,lation ' Mn OF 1.-the tne meeting OF the asso-
irst ,ve"t a., I t,,,S ~ ns uhansed TO the