New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-03-30


.o. ,ho man who keeps big balance on
which the bank makes money. just the same az
tho man who keeps a small balance on Which
tho hank makes little or nothing. The matter
of charging the tax or not should have been lelt
70 tho Judgment Of each bank, II taxing ih'o
consideration the kind Of business done anu
the balance kept by the customer But 10 MANI
q hard and fast rule is to work injustice ~ IL
going to tempt the merchants to DO so"e'n'"s
detrimental to the banks. and very niu'" l'''
q will divert business from New-lork IL II "'
longer true that people trade in New-horh JUS
because II is New-York. Such talk Is a" Io''
They 60 where they can get the most loi III"
least in both money and time our Oin0'e'
house does about twice as much as we uo n''N
And even our st Louis branch. when mas oee'
established only comparatively snort ''''9' 80
already doing almost az much as the s'ore III
Network. In few months more II VIII edS''
equal that done here. and soon surpaSs IT,
"Cur banks always have charged for collecting
our country checks. We nave sue" "
country trade and there are such VAST num-,
90 cbocko large and small. drawn on country
Ao,,s that orr hanks have felt they couid not
,ee,ra - do the collecting free. So we nave
,o,d ,be,, until recently u Of | per cent anu
NOW arc having Ito Of l per cent we 'h'"N
,ho,, not unreasonable in this charge pu' u
,ox others who do not do that kind OF ouS'
noes is very unreasonable. We 'hihN II w
much to nav 10 cents as a MINIMUM '"
small checks in any case. we s"ou'"
attern. to throw the charge on our
That v,ould mean with the competition 80 s"''F
n throw our business TO others we "'""S
etaron our bills PAYABLE with eHo"'"7
Nev-York.' but no attention Is pald 10 ''",'
"a too inconvenient IN many cases loi '''''.
get drafts or money Drdcrs, ana the! ''''
thing besides SO we are obliged 10 'dNe CIV No.
am in hopes after the three mon'"S
over the Clearing House will either reS'i"" -
co modify its resolution as TO leave the 'anN'
discretionary power to charge or not do 'ie q"
count warrants.
4 BURDENSOME TAN.
Mr. Tower Of the Tower Manufacturing com
many. said: II am not prepared to discuss 'ie
subject properly. I don't know what we shd"
do vet But ] will say that ] think IL Yer!
hurdonsome tax It will cost us at least So''"
a year"
renrosentativ. Of Enrich Brothers said:
I'VE don't like it any better than the rest hu'
We haven't made any plans yet. lie sure
though that we shall not pay It unless obliged
n Possibly we may accept the ohers OF the
hanks Of neighboring cities to collect our out
of-toxn checks for us and even deposit money
with them. Why not? l. they do us good
service we ought TO return the compliment
member Of the firm Of Ludwig Bauman d
CO EXPRESSED the dissatisfaction Of his company
with the new plan. He said: I'VE don't think II
fair We do 4 large volume Of business when
brings in any number Of small checks, and they
propose TO charge 10 cents apiece for coHecunE
them We shall have to pay that ourselves
We can't force II off on our customers. the
banks have the use Of our money. and the cost
Of collecting these country checks is part OF the
price they pay for our business. Paying the COL
lection charges is one of the ways in which they
bid for business II would almost pay 10 start
a new bank. The volume Of business such an in
stituton would do would be something enor-
nous. Everybody would go into it
Mr. Daniel Of John Daniel. Sons & Sons, does
not agree with his fellow merchants in their
views on the bank tax. In expressing his opinion
Yesterday he said: II believe the resolution 10
be absolutely correct In every particular | am
one Of those who believe In paying for every
thing they get ] don't like this free lunch
principle. That isn't the proper way to do bus-
ness The banks take big bunch of checks TO
collect for some one. Now why should they pay
the freight charges? It's these fellows who are
looking after their own selfish interests that are
obiecting Just look at these bright, college
educated young men who are working in the
NEUTRALITY-SUSPICIOUS.. mind you--for SO and
SD a week Those merchants who thinking
only OF how they can get whole lot for nothing
are the cause of such conditions. While edu
Gated men get these low salaries. ignorant fe'-
lows with no brains at all demand So a day TO-
mere manual labor"
But Mr. Daniel the banks don't seem to be
paying such poor dividends and heir stock is
certainly not low. Do you think they will be
likely to raise their clerks salaries. because they
collect these charges
"Oh we'll don't know. The tendency is to
raise salaries when YOU are doing a good bust
ness"
You don't think then" asked the reporter.
that there will be any tendency to drive bust
ness 10 other Places
why no, Everybody comes TO NeW-York al
first any way New-York is bound to grow.
Nothing will retard IT. There's only one New
York and there's only one Broadway! No. No.
The principle Of doing something for nothing
is all wrong. This regulation is the correct
thing. II ought to have been done long ago"
repre- sentative Of Huylers. the candy house,
was seen. When asked for the views Of his con-
Germ. he said I'VE of course don't like the
ruling But we are not sufficiently we'll
quainted with the question TO warrant us in
critclsng the banks We don't want to pay out
anything we can help; and If the rule is con-
tnued beyond the three months. shall be
obliged to take measures to save ourselves from
the tax. The larger part Of deposits are
checks from out OF town in payment for choco-
late. Consequently shall feel the effects
severely