The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1900-06-07
BANKERS AT ABILENE.
State Association in Session Cattle
Paper Discussed.

State Association in session. Cattle
Paper Discussed.
Abilene. Kan, June THE Kansas
State Bankers association met in an
nual convention here Wednesday after
noon with about rs bankers present,
many Of them accompanied by their
wives.
The session was opened by prayer by
Rev. Mr.. c. D. Shaffer of the Reformed
church. Col. E. c. Little made the adj
dress of welcome and expressed the
greeting eloquently. Thornton Cooke,
of Harrington, responded for the associ-
alton. Then came the reports of the Of
ficers.
W. F. March, cashier of the Merchants
National bank of Lawrence, president of
the association, made the annual adj
dress and presented a very carefully
prepared review of the financial situa-
ton THE present satisfactory condi-
tion, he said, "of the banks of our state
is a very sensitive index of the condi-
tons that have prevailed during the
past year. Deposits have increased and
there has been a steady demand for
money It is safe to say that Kansas
banks have never been on a f1rmer bus
mess foundation than at present" He
made especial mention of the resolution
adopted at the last meeting at Fort
Scott as follows:
Resolved, That this association rec
ommend to the Kansas legislature the
adjustment of the days of grace now
allowed by law on all commercial pa
per-"
He also recommended a serious con-
SideratiOn of the -four times rule of
the banking law, by which a bank can
not invest more than four times it's cap
ital stock. He held that it is working
a grave wrong on the banks in many in
stances, limiting business and cramps
its legitimate eXpension. ANY law
NH 70 r-f.a no., IL
a public servant" he said, lis to a GER
tain extent unfair" He complimented
! the association on having had the best
/ year in its history.
/ The Secretary's and treasurer's reports
! followed, as did those of the vice presi-
dents of the various groups. c. H. Pat
/ t1Son, topeka; j. I. Leonard, Girard; +.
| s. Vedder, st. John; J. r. Burrow,
! Smith Center, are the vice presidents.
| The evening session was we'll attend
/ ed. c. c. K. Scoville, president of the
/ Citizens State bank. of Seneca, read a
/ strong paper on Kansas and Kansas
Bankers" He reviewed the history of
the state from it's cradle days. and re-
counted with eloquence some of the
achievements of the commonwealth in
material and intellectual lines
! Cattle Paper Exchange" was the
| subject of paper by J. NJ. Harper,
cashier of the Bank of Conway Spring,
| and the secretary of the association. At
the last meeting Of the association a
resolution was adopted that banks
wishing to loan money on cattle paper
should report to the secretary and that
| those which needed money should make
| application. He told of the workings
of the plan. Applications were made to
loan through the association $4I4 800 and
to borrow s131, 800. Applications were all
filed and recorded, with all the circum-
stances of security, time interest etc.
The amount of money loaned is not
| known, but it is probably $50 600 to $40
cd flv
through the association is $13,154 The
object is to familiariZe the banks with
the plan and to test it's workings. With
the varied industries Of the state and its
wide territory the future seems to prom
Use much, according TO Mr.. Harper's
view. He outlined the needs of the cat
tie business and showed that on Febru-
airy Is the banks of the state had a. sur
plus Of $40, 5S2, 179, and borrowed and re-
discounted only 1857, 379. This means S1(
to loan with only 81 to borrow He SAID
the present plan is too slow and advoca-
ted change that should make the ex-
change as rapid as is that of sending
to Kansas City and getting a quick re
turn. If this could be done and proper
~ managed he predicted that all the
cattle paper business could be done by
the Kansas banks without calling or
Kansas City or the east at all The
paper was discussed with interest by
the bankers and a new plan will proba-
bly, be the outcome.
DAM COMMISSIONER Bre1denCnal gave
an interesting talk, discussing cattle pa
per chiefly. He took the position tina
Kansas paper should be handled by
Kansas banks and that some arrange
ment should be perfected to make i
unnecessary to go outside the state
J. r. Mulvane, of Topeka, made a re
port for the committee on burglar in
surance. 1t is probable that a stool
company for mutual protection of Kan
, Sas bankers will be formed
: TODAY Governor Stanley will m 10
address and the association will go [,
L. L. l.. - g '