The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-03-07
OUTSIDE MONEY D0ESIT
Building in Wichita Doesn't Lessen
the Bank Accounts,

Some of the people of this city who
have been talking for some time past
that the building operations in Wichita
would of necessity cause a reaction in
the financial affairs of the place, evident
~ do not know what they are talking
about. While Wichita has grown dur
ing the year past, from the last day of
February, the town has more money now
than it had one year ago.
When asked yesterday in regard to the
amount of money that had been spent
in the past year for buildings and i'm
proveInents, Architect Ebert Dumont
said last night that some people overesti-
mated the amount and others placed il a
long way below what it was. He said
not a tenth Of the buildings of the town
were furnished with the plans by the ar
chitects. There had been vast number
of houses built that cost one thousand
dollars and less, and these made quite a
showing. He thought to be perfectly safe
and conservative he would place the
money invested in new buildings for the
year ending on the last day of February
at a half-milion dollars.
In this estimate Mr.. Dumont did not
include the new buildings a Dod's and
Cudahys. and the money invested by the
Missouri Pacific in new buildings, which
would have brought the figures up TO
nearly a million dollars. Wichita has
made wonderful growth in improve
ments, and in population, in that time;
but the resources OF the people have not
been depleted during that time.
Speaking of the same matter last even
ing to a reporter for the Eagle, Vice
President Z. F. Masterman OF the Kansas
National bank said that many people
were unable TO distinguish between the
natural growth of the city and an inf1a-
ted boom. He said that this class OF
people loved to point 10 the fact that
even conservative old Germany. after re-
ceiving the French indemnity, launched q
great building boom al over the country
and In a few years there was a great
financial reaction and Germany seemed
worse off than before receiving the in
demnity.
He pointed out that Wichita was in an
entirely different position; there were no
expensive buildings going up for which
there was no use. He said some people
imagined that this building of so many
houses was depicting the bank deposits
but that there was absolutely nothing in
that. II was the natural growth CT the
city and the money came from the out
side TO do the building. He said when a
man sold a valuable piece OF property to
a newcomer he did not. as rule. take
the money and leave with it but that he
built a house with it. and while the
Wichita man was building a new house
as some OF the people point out. he was
really using the money the other fellow
brought in
To prove his position Mr.. Masterman
got down his scrap book and showed that
one year ago the deposits in the banks
of this city were. in round figures. 5000. =
60 and at the beginning Of March this
year they were S4.5da eco which was an
increase % aboCt a. per cent. He said
II there was anything lacking 10 show
that the building in this city was a nat
ural growth. these figures would furnish
It. BE gave il as his opinion that the
growth Of the city this year would ex-
coed that OF last year