The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-12-09

: boy Gilletts would never have a chance to
! make meteoric curves in financial skies.
/ The commission houses OF Kansas CITY,
! St. Louis, Chicago and other cattle mar
! kets have demoralized the legitimate loan
/ ing on cattle security by interior banks,
where it properly belongs. No good bank
I should give exchange free. Exchange IS
/ legitimate profit and no customer is en-
titled to free exchange. In the collection
! department, don't fail to collect charges,
! before wasting time and postage trying to
collect from some deadbeat, who wouldn't
pay if he could.
paper which drew forth a lively dis
cussion was that entitled, Express Money
Orders and How Best to Treat Chem"
read 10y Mr.. D. W. Hogan. of the Bank
Of Yukon. 1t appears tina touring the last
few years the banks have been looking
upon the express money order business as
a menace 10 their exchange business and
have been discussing in their associations
the best means of counteracting it. The
high rates charged 10y express companies
for carrying corrency for the banks, and
the wide discrimination in these charges
ment first brought about the investiga-
ton. SO long as there was no organized
effort on the part of the banks to retaliate
the express companies mad smooth sail
ing They fixed the rates among them
selves, smut their eyes and charged. The
banks meekly bowed to the inevitable,
paid the charges and continued cashing
express money orders at par, thus fur
nishing powder for the enemy's guns
The bankers are competing with strong
competition for line of business which
belongs exclusively to banks; a line Of
business that they pay heavy taxes and
license to carry; a line o fbusinesS to do
which they must incorporate by state and
national laws and hire examiners to csleck
them up for t;le benefit of the public.
Hence, it is pertinent to inquire, are not
the bankers entitled to this business? Is
it not theirs by right and virtue of pay
ing for the privilege Of doing il. Mr..
Hogan thought so, and advised the agita-
ton of the subject in the state associa-
tons and when the American Bankers
association meets next year, to insist on
a high commission of able and learned
bankers being appointed 70 devise ways
and means for a reciprocal bank draft,
the excellence of which will so far over
shadow the express money order that it
will sink into harmless disuse
Mr.. Post, president Of the Bank Of King
fisher, to whom had been assigned the i'm
portant subject of THE Relationship of
Private, State and National Banks"
opened his subject with the statement
that all good, safe and solid banking in
stitutions have three objects in view:
First the solvency of their respective
banks; second, the confidence of the pub
lie in general and. third. to pay divi-
dends to their stockholders; and with
twenty years of personal banking bust
ness he knew of no material difference
between these respective organizations,
so far as they protect the public at large
He was proud to state that there have
been less failure of banking institutions
in Oklahoma than in any state or terri
tory in the Union according to popula-
ton. And under the existing laws and
personal supervision of their present
banking board and efficient bank exam
iner the banking conditions cannot be
eXcelled, if equailed, in any of the older
sections Of the country. The Banking
laws of the territory, as they now exist.
guarantee to the pubic at large every
protection, according to their respective
capitals that a national bankink organ
izaion does From the fact that the
stockholders, officers and directors are
and must necessarily be residents OF the
territory and community in which they
are doing business he was convinced that
state and private banks give greater pro-
lection to depositors than the national
banks; and ne called especial attention
TO the last report of the territorial bank
ing board as 10 the condition Of the state
and private banks and challenged COM
parison with the condition of the national
banks of the territory as shown by their
reports TO the comptroller of currency.
One Of the best papers read during the
session was The Country Banker" by
o. J. Fleming, of the Bank of Enid. The
office of country banker is one of great
honor, because of the great responsible
tiles entailed upon ond the universal trust
reposed in him; he is trusted without bail
bond or surety. Bank patrons have a right
TO exact that the banker shall administer
the trust voluntarily placed in his charge
free from the influence of friends. poll
ticians, church and state; that he shall
know personally at the close of each bust
ness day that the c.sh balances are re-
corded-are, in fact cash balances: that
ne shall guard without ceasing the de
posters and correspondents of the bank:
he should be candid with all his custom
ems; with the directors. all bank officers
and stockholders, because they iook 20
him as the balance pole: scripturally
speaking mis- conversation should be yea.
yea" and may, nay" principally may"
The managing officer of the bank must
in order 10 succeed. be o keen. certain
and ready judge of human character. He
should be able 10 correctly detect motive
at sight; should have a practical knowl-
edge OF the debit and credit systems
which are not all OF banking: should be
thoroughly conversant with commercial
law as well as the law OF demand" no
/ tice and protest. principal and surety and
the law governing negotiable Instruments
There Is another law most Indispensable
to successful banking. namely. that no
banking institution can do a successful
business in the ''overdraft" system: ii
should be prohibi;ed
Nominated by the President.
Washington, d. c.. Dec. s.-The presi-
dent today sent these nominations TO the
/ senate:
Postmasters; California-Samuel J. Brun.
/ stanford University.
/ Iowa-William Il. Meance. Boone
/ Charles +. Carmody. Mapleton: II. W
/ Clark Tabor