The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1903-07-16
MONEY PLENTY.
The Wall Street Situation Not
Worrying Kansas.
New York Wants to Know If We
Are Uneasy.
{" WHICH WE ARE NOT.o
Banks Here Are Full of
Currency.
Wheat, Cattle, Horses and
SWino RraaEinr Qooo,5c

Monetary matters are stringent in
New York. Financial circles there are
interested in knowing what effect their
troubles are having on Kansas. 1t may
surprise them to learn the fact that we
are little affected The New York Her
aid wired it's correspondent here to get
some interviews for this mornings is
sue
The following dispatch was sent in re-
ply and was also printed in various 9TH
er eastern papers today:
1t is the general opinion of the lead
ing bankers and business men of Kan
sas that, for the first time in her history,
this state will suffer no i'll effects from
the present financial depression in Wall
street and the eastern financial centers-
The men who are familiar with the bus
mess conditions in the state believe that
the financial outlook is brighter than it
has been for years and that the state al
ready is rapidly recovering from the eff
fects of the floods. The following are
statements made to a correspondent for
the New York Herald by a number of
kanSans:
Kansas. with the exception of the
flooded districts" said z. I. Bonebrake,
president of the Central National bank,
was never in a more prosperous condi-
ton than today. The extraordinary
wheat crop which is being harvested
our annual yield of wheat. We are safe
in estimating so million bushels of
wheat for the state.
THE corn crop probably will be short.
but with favorable weather during the
growing period we will have near an
average corn crop.
BANK DEPOSITS ENORMOUS.
THE deposits of banks are in excess
of any time in our history. Including
Chicago, St Louis and Kansas City, we
in ha n tai Ia nj mr.
ment of crops. We are depending less
and less on New York for money, and
notwithstanding the great depreciation
of stocks, the west will be affected very
little. am glad to see the depreciation,
as it is squeezing the water out of so
many of the overstocked corporations,
and, taken in homeopathic doses, l APP
prehend no trouble. OF course, if panic
should occur in New York it would af-
feet the west as we'll as the east. but
not to the same extent as our people
are not investors in stocks and bonds
SQUEEZING OUT THE WATER
1.-The depreciation in values" said j.
r. Mulvane president of the Bank or
Topeka, lis a good thing. 1t means that
the fellows who own the stocks are
merely marking them down to their
proper price. Ten years ago our people
owned no bonds and mortgages and had
no coupons to clip. Now, through our
bank we are collecting an average OF
81. 900 worth of coupons month and
others banks are doing the same thing.
1.-The state will produce from IS to 100
million dollars worth of crops this year,
as against 112 million dollars worth last
year The east does not seem to appre-
ciate the fact that our people are out
of debt and have been for some time.
They have paid their mortgages and are
now able to afford the luxuries. One
thing that has given fasteners the idea
that Kansas needs money is the fact
that we have been drawing on the east
for money during the harvest This IS
because the harvest hands.must be paid
in cash and the farmers IN the wheat
belt are using between $50,e0O and $4,000
a day to pay their labOrers- The banks
have increased their deDO>itS three mil
lion dollars in three months. The de-
uosits in our banks have increased MORE
than 800 900 in the last month Prob
ably a million acres of corn was washed
out by the floods. but the farmers in the
valleys have replanted and if the season
is late enough they will need no assist
ance."
FLOOD LOSS SMALL
THE financial outlook in Kansas is
bright" said J. w. Gleed. an attorney
and business man. THE floods produced
severe losses over the territory they
covered, but that was extremely small
compared with the area of the state.
Crops outside the flooded districts are
abundant. The farmers already have a
surplus of money and the state will have
money to loan this fall
There is TO cause for financial
disturbance here" said F. w. Freeman,
cashier. of the Merchants National bank
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