Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1900-06-14
BANKERS ADJOURN,
LAWRENCE WILL ENTERTAIH
THEN NEXT YEAR.
G. Q. Chandler Il the New President
and Thornton Cooke Il Secretary
Governor Stanley Speaks.

The State Bankers invention ad-
journed THURSDAY after electing the
following officers;
President, c. @ Chandler, Medicine
Lodge.
Vice president, Scott Hopkins, Hor.
ton.
Secretary. Thornton Cooke, Her.
ington.
Treasurer, G. L. Brokaw, Sedan.
Vice presidents Of groups-J. T.
Harris, OF Nortonville; /. ?. Nye,
Eureka; L. S. Naitzger, Wichita; New.
ton Cramer. Jewell City.
After spirited contest Lawrence
won the place Of meeting for next
year.
The usual resolutions were adopted
one being to favor uniformity Of bank
ing laws, and the legislative commit
tee was instructed to bring the same
before the Legislature.
Governor Stanley made pleasing
address this morning, coDgratulating
the bankers on the States excellent
condition and the promising outlook.
"a. Chandler read valuable pa
per on handling state funds. He
took this position:
1.-THE proposition is that the state
advertise for bids every year for the
handling OF the states funds. The
bids will be made open to any bank
in the state and those who Offer to
pay the largest rate Of interest will
be given the money. For convent
ence sake the bids will be for a speci-
fed amount, like one.tenth or one
twentieth OF the total amount.
'In order to make the amount alb
solutely safe the banks which are the
successful bidders. will be compelled
to deposit with the state treasurer
an equal amount Of municipal, town
ship or county bonds. No bonds to
be accepted where the county, town
ship or municipality has bonds out
standing for a greater amount than
five per cent Of its assessed valuation.
"By following this plan the State
will receive a large income from its
surplus funds; it would be absolutely
protected from loss, and a market
will be provided for an immense
amount Of good Kansas bonds on the
home market. The State and the
people will profit by such an arrange
ment and few people would not reap
rich returns from the States money.
"The bankers will also propose a
new mode for handling cattle paper.
At present the banks in the eastern
part Of the State have large SURPRISES.
In order to invest this idle money
proftably they go to Kansas City and
buy cattle paper from the commission
firms. The commission men in return
obtain their money to buy the paper
from the Kansas City banks. The
banks in the cattle districts Of western
Kansas handle every year many times
the amount Of cattle paper they can
take care OF. They dispose of it to
the banks in Kansas City. By reason
Of this method Of doing business the
Kansas City banks make two or three
profits off every transaction in cattle
paper.
1.-The idea is to have the banks in
eastern Kansas which have idle money
make their wants known to the secre-
tary Of the State Bankers association.
The western banks which have cattle
paper to dispose Of are expected to
notify the secretary and the inter-
change Of cash for paper can be ac'
complished without the Kansas City
banks reaping middle-man's profits
The opening session yesterday was
in Armory hall. Rev. c. d. Shaffer
made the prayer. Colonel Little well
coined the visitors and Thornton
Cooke responded.
W. F. March, cashier Of the Mer
chants National bank Of Lawrence
president Of the association, made
most interesting address. He is ont
OF Lawrence's most cultured gentle
men and a widely known Mason, be-
ing treasurer Of the grand comman'
derry, Knights Templars.
mi