The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1904-06-21
OVER FIVE MILLION.
That Is the Amount of Money on De.
post i'm Topeka Banks.

It is estimated that within the past
year about $1.000,000 has gone out of
Topeka for investment in the southern
Kansas oil fields. Yet in spite of that
fact, the bank statements of the six
leading Topeka banks. published. in re-
spouse to the call of the United States
comptroller and the state bank COM
missioner. show deposits of money In
Topeka. banks aggregating over 515
millions of dollars.
The bank statements were published
last week, and show the following de-
posits for Topeka banks:
Bank Of Topeka. ............. 81, 723, 6S7. II
First National bank. 1,116, S12.70
Central National bank. 1.158, 62S. 40
Merchants National bank. 750.571.1s
State Savings bank--........ 81, 654. 50
Citizens State bank......... 255, 142. 40
Total ...... .............$5,6 22, 1885, 81
Topeka banks have a very heavy list
of individual depositors. The above list
of total deposits includes county de-
posits, time deposits. bankers deposits,
etc. but exclusive of all these, the in
dividual depositors of Topeka. have In
the local banks nearly $5.000000.
In speaking of prevailing financial
conditions in Topeka, a Topeka BUSH
ness man said today:
Topeka has an unusually large
amount of money on deposit in the
banks, and yet in spite of it, there is a
good deal of complaint about dull times
having as good trade as they expected,
and as a consequence we see that there
are a good many special sales being
pushed for the purpose of getting rid of
surplus goods.
Il think that part of the duIlness may
be due to the fact that so much money
has gone out recently for investment in
southern Kansas oil propositions Peo-
pie who nave had a desire to invest,
have sent their surplus to Chanute, lola,
and other gas and oil towns. They are
expecting big returns for their invest
ments, but it is a risky proposition as
long as the Standard Oil company con-
trolls things so completely as they do
down in that territory.
"Of course it is impossible to get at
any accurate estimate on the amount
of money Topeka has sent to the oil
fields for investment, but I should say
that the estimate of 81 900 900 is not far
from correct. 1t seems as though about
four out Of five people you meet who
have money to invest have dabbled
more or less in OIL and are expecting
to get rich
Speaking of the recent fluctuations of
bank clearings, which have usually
shown a fat decrease in the Topeka
clearings over last year, an old Topeka
banker said today:
Bank clearings are practically
worthless as an Indication of the con-
dition of trade. It is possible to run
up the bank clearings by large ex-
changes Of checks which really indicate
nothing about the state OF trade II
one bank sends another a check for
$3.50 600, and the other sends bank a
check for 800, 0O0 these transactions
can be made to show a total of S250,000
I'm the bank clearances.
THE amount of money which the
banks have is a much more accurate
indication of the condition of the city
It does not pay TO put too much faith
in the showing made by bank clearings-
think that probably the present fall
ing off is due to the fact that not quite
so many big deals in bonds are being
made as were made last year. Many of
the bond refunding transactions for
the state are negotiated through the
Topeka banks. and the result is a boost
to our bank clearings when the bond
business is brisk