The Wichita daily eagle., 1901-05-30

and strength In 1893 out Of the entire
number of state banks. only nine failed
TO show net earning for the year, and
| seven Of these were new banks just start
ing. and only two private banks failed
to show net increase in earnings.
IN the year 1900 not a single national
bank and only two private and state
banks were put in the hands Of re-
ceiver in this state. Certainly this is a
record that the Kansas banks may be
proud Of.
The total deposits OF the banks Of the
state in 1893 were s4s, ,272, ,6o2-
''In 1901, they are S70I1S.1 1850; an in
crease in two years OF IS per cent
Our worthy secretary and treasurer
win furnish you with reports which I
think viii show you that the Kansas
Bankers Association is keeping pace
with the onward march Of our great
country and state. With an increased
membership OF about 90 per cent with
three-hfths Of the bankers Of the state
belonging to our association. we feel
greatly encouraged with the work
ct is pleasant to look back and see
the great prosperity that has come over
our land and naturally the question is
being constantly asked. Is it genuine?
Is it Iastingg The bankers above all
other men must not be too great an
optimist, but God deliver US from pess-
imist. I believe our prosperity is per-
manent. I believe it is genuine. think
it is built upon a good foundation.
In former years we reckoned our val
ues and our profits by real estate val
ues. inflated by speculation 10 great
degree, but what Of today? If you go
to sell a piece Of real estate today the
very first thing the purchaser does is
to figure the income, deduct taxes, re-
pairs and expenses. If you can show
him he will get a good steady return on
his money year in and year out, then
you may make sale; If not, then he
passes you quickly by and so IN all
classes of investment what viii they pay.
not today only. but every day and every
year that the investment is made for
Eve have brought the wealth out of
the ground, transformed it from raw
material to the manufactured articles
loaded it into ships and sold to our
friends across the water, got their gold,
brought it home and put il in our vaults,
or better still, loaned it back TO them on
good security at good rate Of interest
There could not be any great object
lesson Of the real solidity and strength
Of this country than the effect of the
recent Wall street nurries on the country
OF 1 might better say the lack of any ef-
feet
In former years when we had a panic
on Wall street the very next day it was
felt over the entire country I have but
to call the attention Of the older mem
bers to those memorable days like Black
Friday in 1859. The Grant and Ward
failure in 1854. the Barring failure in 1880.
Every one Of these sent their influence
throughout the country from one end to
the other and what happened in day
on Wall street, we felt for months
Within the last few weeks we saw a
panic IN the stock exchange. said BY
some to almost equal Black Friday and
yet not a bank failure, not a rifle on the
surface outside Of Wall street itself.
Banks over the country would not have
known it but for the telegraph, and why
is it so? because our foundation is good,
because everybody knows that we are
standing solidly on fixed and unques-
toned standard, because we have our
wealth disbursed throughout the whole
western country. No longer do the east
ern and southern bankers have to knock
al New York's door for every. accommo-
dation we desire. Great money centers
have been built up all over this country.
AS the strong and healthy man can come
in constant contact with disease and
throw it off, so We have a strong, healthy
financial body our system is in trim
and we cannot be affected by every little
whiff of wind that arises.
If we keep our heads, If we use the
proper care and good Judgment. we
should go on prospering, but while I
believe this prosperity of ours is genuine
and may 90 on. yet I think it is the time
above all others when the bankers
should use the very best Judgment and
greatest care. If we have here and
there soft brick or an imperfect stone
in the wall, now is the time of all times
to ehisel it out and in its place cement
firmly a brick or stone Of such known
and tried qualities that no storm can
effect it
Now IS the time to put the very best
security behind the bill receivable Now
is the time TO buy and put away in
strong box, the highest grade OF bonds
which can be realized upon promptly,
if need be. Now is the time to build up
the great bulwark of strength. a fine
surplus fund. q handsome undivided
profit account, and should the financial
sky dsrken. We viii be prepared for the
storm.
while we are prosperous and enjoying
so great degree Of prosperity let us
not forget that our friends across the
we have. With some Of them it IS rum
ors OF war. with others It IS war indeed
and truth. and with many OF them il is
today. right now. very hard times fnsn-
ciany with not too bright an outlook
for the future.
Morton Aibaugb. state bank commls-
sioner. was present throughout the ses-
sions. The name OF Mr.. Albaugh Is gen
orally looked upon in Kansas as merely
political. But by reason Of his several
years service as receiver for the Cross
National bank at Emporia. and later
his connection with banking interests
Of Kansas IS q state bank commissioner.
he is well qualified 70 be present at such
meetings as the Lawrence bankers con-
vention. 1Ir. Albaugh's conduct ~ the
Cross bank at Ernporia won him high
commendation from Comptroller Dawes
and the treasury department people ~
Washington. He was and IS. careful.
conservative and fun q attention q de-
tail in bushes as much as IN politics.
In his excellent address before the con-
vention. Mr. Albaugh began by calling
attention TO the recoenitio1 by those
present of Kansas present prosperity
and its recent depression. he said THAI