The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-08-17
IN UNION
IS STRENGTH.
Three National Banks Have
Formed a Combination.
NORTH END BENEFITED
Big Money institutions viii
All Support New Bank.
NORTH END BENEFITED

stockyards yesterday that the new Stock
yards bank will be opened on the 18th
day of September, and while its capital
stock will be only 5000. 1t viii have the
strongest backing of any bank in the
state of Kansas. The power behind il
will be the three big National banks OF
this city.
The Stockyards bank was first projected
by the Kansas National of this city, and
the Eagle stated at the time that it was
likely to precipitate a fight among the
National banks. The Fourth National
and the National Bank of Commerce OBJ
jected, and they each threatened to start
bank at the stockyards and also at
Medicine Lodge.
This threatened fight was so useless
that all of the banks saw the fooIishness
of such a contest and the suggestion
made in the Eagle that there be one bank
at the stockyards and all the National
banks in the city have an equal interest
in it seems TO have been adopted
This solution Of the difficulty caused
much rejoicing in the packing house dis
trict. They want a bank up there, and
they want a good one. and the very
plan that win give general satisfaction
has been adopted. When the Dold pack
ing house opens which wiz be in very
short time, it will make an addition to
the business of that section which is al
ready large, and the business men say
the kind of a bank which has now been
arranged for viii be a great convenience.
Instead of being an adjunct OF one of
the big National banks. 1t will be
sort of clearing house for all of them.
The condition of banks is said to be
good index TO the prosperity of a commI
nifty. The growth of the banks of this
city certainly shows Wichita to be grow
ing. There are now seven banks in the
city, with a paid up capital stock of
S49O.OOO.O0, and they hold IN their vaults
deposits running over four millions OF
dollars. The National Bank of Wichita
and the Stockyards bank viii open next
month, making nine banks and running
the bank stock up to s5s5 90 and show
Ing an increase since last May of $40. CO.,.
The paid UP stock of the Fourth Ma
tional is $500 900; Kansas National, $780, coo;
National Bank of Commerce, 500, 600: the
American State, $50. 900; Commercial State
Bank, 5000; Citizens State Bank. s1OC00;
State Savings Bank, SIS, 600. The National
Bank of Wichita will have 100000 and
the stockyards Bank 5000.
The banks of this city now have money
enough to accommodate large business
interests They in fact have more money
at this time than can be used here This
surplus money is loaned in the east at a
very low rate of interest on call and Sc
cured by government bonds or some other
security just as good. They could sell
the security any day in the market for
more than the amount of the loans.
A farmer in the Fourth National bank
yesterday said that the banks with plenty
of money helped everybody TO mako
money. He said he was obliged to raise
some money last spring and he had some
He was offered what he considered was a
low price for the cattle and instead OF
selling them he came to the bank and
borrowed the money and turned his
cattle out to grass. He had now sold
them and had big profit above what he
could have gotten last spring, after pay
ing his few dollars of interest.
1t is a matter OF fact that the very
men who push the big business enter
prises are the ones who borrow the most
money. The business of this city at
times requires a good deal OF borrowed
money. and the money is here TO accom-
modate them all and more