The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-05-04
It CUTS NO FIGURE
Binding Boom Has No Effect
on Deposits,
BANKS ARE ALL FULL
Another Big Crop Will Crowd
All the Vaults.

Wichita is now in the midst Of the
greatest legitimate building boom in her
whole history. People are building new
houses and remodenng old ones and the
work is simply immense. It is not con-
fined to the outskirts of the city. It is
not q mere extension OF the boundaries
of wichita. but is going on in nearly
every block in the entire city. People
who six months ago thought they had
the neatest residence house in their sec
ton are now forced to improve TO keep
pace with the surroundings. All Of the
arcu4cects and builders are busy and
painters are behind with their work.
Some time ago when the Eagle began
to impress on the mind Of its readers
that Wichita was on the eve Of a great
forward movement some Of the over con-
sentative fnanciers began to shudder and
called it booming and causing rents TO
advance. Hundreds OF houses have
been built and still the rental agents re-
port that there are not nearly enough
houses to supply the demand. This is
q
hates that word 1t is the natural growth
Of greater Wichita expanding and soil
difying as the territory tributary is be-
ing developed Wichita is growing and
she will continue to grow while present
conditions last
1t would De impossible to tell the
amount Of money expended during the
past six months for building and i'm
provements in this city, but the sum is
fabulous. All the banks of the city
look at the piles of money in their vaults
and then confess that the Eagle was
right when it predicted the great forward
movement in the growth Of the city.
They now admit that it is but the result
of natural conditions and tnat it means
a greater and more substantial city at
the junction of the two Arkansas rivers
There have been alarmists who have pre-
dicted that this immense building move
ment would depIete the bank deposits in
Wichita but nothink OF the kind has hap
pened. Speaking of this phase of the
situation last night, c. w. Carey, cash
Ter of the National Bank Of Commerce,
said:
Notwithstanding the immense build
ing operations here the deposits in the
banks are not being depleted. OF course
there is plenty OF money going out for
building material, but money is coming
our way at the same time and the bal
ance of trade is in our favor. There is
still more money coming into Wichita
than is going out. If we should harvest
another good wheat crop you could not
begin to imagine the amount of money
we will have. Some people say there
it not much profit in wheat, but it brings
lots of money to this section. The great
building boom here seems to be natural
growth and we are all right
A reporter for the Eagle saw Vice
President z. E Masterman of the Kan
sas National bank last night, and asked
him what effect the building boom in
the city was having or the bank deposits.
He said:
TT is not having any effect in the way
of reducing the amount Of deposits.
These great building operations are but
the legitimate growth Of the city. Peo-
pie are building houses because they
need them. Hundreds of people are
building or improving their homes. The
fact of the matter is that Wichita IS
growing in population. 1t makes no
difference what the returns of the as
SCISSOR will show this spring, I viii refuse
to believe that there are not two thous-
and more people here now than when !
came to Inc city about one year ago,
The money now here is not speculative;
st is the accumulation from the produc-
tive territory tributary to Wichita The
big stream that is coming in may slack
en- some time, but there is no indication
of it now. The agricultural and manu-
featured products Of tnls section is
bringing in lots Of money and better
prices is one cause Of the accumulation
of money. I remember a few days ago
that when we cashed a draft for car
load of hogs, that it took four to five
hundred dollars, but now it takes eight
10 ten hundred. The railroad freights.
commissions and other expenses are
about the same as formerly and the far
mer is getting this extra money for the
car load Of hogs. mat is only a fair
representation of other products. 1t IS
an old saying that when the farmers in
the west prosper everybody else is max
ing money. When the .armers have To
economic trade Of all kinds is dull 1
believe that this building is but natural
growth and that Wichita's prosperity
has come TO stay"