Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1901-09-11


and will soon have it ready for occu-
pancy.
Rev. w. =. Secular, who has been pas
tor of the Presbyterian church for soma
months past, will leave for Chicago this
week to complete his theological Guides.
His successor has not yet been chosen.
HuMoRs or BANKING.
A Farmer Who Wns Glad That He
Didn't Want to Borrow For Ten In-s
stead of Five Years-A Draft That
Queerly Went Astrny.
Zone Of the best bank stories ever
heard or read" said the assistant cashier
of the Capital National bank, "was re-
lated by Governor j. Hoge Tyler of Vir-
ginia in an address of welcome made to
the American Bankers association in an
annual convention at Richmond, Va,
Oct. 2, 1900. AS remember it, the story
went about like this: Soon after the war,
when banking rates, or discount rates,
were high. an old country friend in one of
the southwest counties, q farmer, went
to the bank to secure loan Of 81 600 for
five years. OF course this lnnde the man
behind the grating open his eyes and look
at him with wonder and establishment,
and the farmer was told that they could
not make provision for such loan as
that unless they had the most satisfac-
tory collateral that could be obtained.
"The old fellow asked, 'Collot xylat?'
'Colateral,' the banker answered.
"'Well, what is that?' the farmer ask
ed.
'The banker went on to describe the
stocks and bonds and securities that are
meant by the term collateral. The old
farmer said: We'll, il l had those things
/ wouldn't want any money. They are
better than money he said.
"sWell.' said the baker, you can't get
the money unless you succeed in getting
some of those collaterals, and then we
might discount your note
.'Well, the farmer succeeded in getting
some collateral and in getting some per-
sonal Endorsements. md also in getting
his own name upon the paper and his
wife's as we'll. and obtained mortgages
ON everything he had He came and
dumped his collateral down on the bank
er's desk. They were satisfactory, and
the cashier made out his note for him for
81 600 and told him to sign ii. which the
farmer did. After signing the note he
passed 1t over. Then the cashier count
ed him out $2S7.52. The old farmer
calculated, Come on
".No. SIR said the cashier: that is all
you can get ON a note OF 81 LOCO for Eve
years at our present rate Of discount,
"sDis whatY said the farmer.
".Discount,' said the cashier. That 10
Ill you cnn GET
"'Whnt do you meant said the
farmer.
"'Why.' said the cashier. we take of
the discount for the first four months
ard the next four months, and so on,
and then at the end Of FIVE years your
note will only make $2S7.62.'
~ am glad did not ask you to lend
me that money for ten years. calculated
the farmer. 'or you would have had me
In debt. and l would have to pay you
something for asking you to lend it to
me-"
"When I was banking IN Sullivan,
Ind, some years ago." said the president
of national bank, II hnd singular ex-
perience. always locate my stories on
the banks of the Wabash SO that people
can't tell whether am stretching It or
not. One day rustic looking fellow
came into the bank and handed me a
draft on New York made out, we will
say, to John Bell. was not exactly GER
tain that ! knew the man, but his ap-
pearance was in his favor, and cashed
the draft. He could not write, SO 1 had
him make his mark. The draft was for
warded to New York for collection, and
in about week or ten days 1t came back
to us with the statement that the in
dorsement on the back was forgery.
The letter from the New York bank that
accompanied the draft said John Bell,
the man for whom this draft was in
tended, is travelling representative for
local patent medicine house, and, while
he admits that he was in the town Of
Sullivan on the day the draft was cash
ed, he declares that he did not get the
money. Bell further says that he can
read and write very WE'LL
81 sent for the farmer, whose name
was John Bell also, to come to the bank"
continued Mr.. Wilson, "nnd when he came
showed him the draft and the letter
from the New York bank and asked him
how it came about that he cashed that
draft, which was intended for another
man OF the same name. WELL he said,
'I'll tell you how it was. There was a
Teller in our neishborhood couple of
weeks ago selling tickets in lottery for
q dollar apiece, and bought one OF them
tickets. When came to town the other
day, went to the postofice to get nv
mail and they handed me a letter with
<6ok T., ~ = ~