Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1901-08-13
.PNESOF MONEY READY
Local Banks Have Lots Of Money
For the Fall De.
mand.
Banker. Think Short Corn Crop
Well Net the Farmers the
Usual Profit.
Time Deposits BY Farmers Are
Heavy.-Cattls Will Be Fed
Soft Corn.

The partial failure of the corn crop in
Marshall county will have small effect
on the present prosperous condition of
business Of all kinds. AT least this is
the impression held by the banking in
situations and others who make the
study Of crop conditions and prices a
matter Of actual business. Several
bankers expressed their views on the
situation to T.-R. reporter this morn
Ing and the concensus of opinion among
them is that outside of individual and
isolated cases the outlook for continu-
alton of prosperous business conditions
is good.
1t was found impossible to see Mr.. D.
4. Denmead, of the City National Bank,
who is at present out of the city. The
other officers and employees Of the insti
tuition reported no change in the usual
business of the bank.
Mr.. Woodbury., Of the First National,
said: Financial matters are not affect
ed by the partial failure. While the
best we can learn from the farmers is
that the crop will be not more than 90
marketable corn is twice that of ordi-
nary years The marketable corn at a
| 80 per cent estimate will bring as much
as full crop. Sometimes disaster is a
blessing in disguise. Farmers will cut
much of their corn for feed this year
and learn much in an economic way of
the value of feed that is too often
burned or wasted. There is plenty of
money, more than is necessary. Money
/ was never so plenty as al present and
the time deposits for the past two years
are unprecedented. While few loans are
being made for the purpose of buying
! feeders, and possibly few will be made,
Iii is too early in the season to speak
with accuracy on that matter"
Mr.. Kirby of the Fidelity thought II
Istoo early to size up the situation decid-
/ eddy. July and August are duh months
| Loans for feeders are not usually made
so early. Mr.. Kirby said people We're
waiting. Time deposits were large
Everyone could get money who could
offer good negotiable paper. He though,
there was no more money. but there was
more money in more hands. Every one
had money. Farmers deposits for the
past period Of prosperity had been large
and great portion of deposits in Mar
shall county banks belonged to them,
The ones who will lose are those who are
raising young stock and must sell OF
buy grain at the high prices to carry
them over.
Mr.. Balch of the State bank had much
the same to say. He thought there
would be no pinch. Money is plenty tc
move all crops. No loans were being
made to buy feeders, but 1t is too early
for such loans.
| "A. F. Steward, commission man con-
nected with the union stock yards, said:
There will be more corn fed in Mar
| shall county than ever before. I was
born here and have watched the corr
crop ever since. Corn will be uneven
and will not grade, but good weather
will bring lots of corn for the county
tho farmers and feeders are SLOW tc
| think so. There will be many cattle fed
/ here because the corn. while good tc
| feed and finish on, will be in measure
unmarketable" Mr.. Steward mentioned
! the bank deposits of farmers and said
| in Grundy county the banks have a
strong distaste to Chicago money COM
ing into the county, as the banks in
Grundy Center and other Grundy coun-
lty towns have more money than they
are able to place.
Taken all in all, the people of Mar
shall county need not fear starvation for
| some time yet.