The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-12-05
DOES NOT HURT.
CONTINUED from Preceding Page)

-
thus far do not seem to be in any Spe-
cial trouble. The funds which they
| may have had on deposit with tho Ma
tIonal Bank of Commerce comprise
such a small portion of their total re-
sources that do not anticipate there
VIII be any serious disturbances. Nor
is it at all unlikely that these Kan
sas banks will eventually recover by
far the greater portion of their de-
posits OF course it may tie them up
for time. but they were tied UP con-
siderably anyway, and I doubt whe-
Their 1t will make very much differ
ence."
Secretary of State C. E. Denton, who
is the owner of a number of banks in
southern Kansas, said: "Of course
this is a hard blow, but it is not nearly
so bad as it would have been if it had
come thirty days ago. The Bank of
Commerce made a gallant fight for its
life, and the thing that pulled it down
was its payments aggregating 49,
100000, most of which went 10 help
it's correspondent banks in Kansas.
There are about forty banks in Kan
sas which are owned or controlled by
the Bank of Commerce"
Doesn't Affect State.
State Treasurer Mark Tulley said:
This furry in Kansas City does not
trouble the state in the least. The
states money is absolutely secure,
even though every bank in the state
K.
has in the state treasury bonds worth
several times the size of its deposit. L
do not believe that there will be a very
serious difference in the existing con-
ditions in Kansas, though it may be
some time before the bankers take off
the lid"
Attorney General F. S. jackson, who
is part owner of a bank in his county,
said this morning: 1--WE have known
for week that this was likely to hap
pen, and have canvassed the situation
carefully. We believe that there is no
doubt that every bank will get all of
it's money back out of the assets of the
Bank of Commerce. Consequently
the bank in which I am interested, be-
cause I know we are safe. I have also
concluded that the lid which the
bankers put on Withdrawals was very
good thing. Up to the present time L
had believed that was entirely unneces-
Sary. 1 now am convinced that it was
very safe move, and will do much to
allay any fear of a run, because every
body knows that no one else can start
anything"
No Large Santa Fe Balance.
There have been persistent rumors
that the Santa Fe railroad was caught
with large deposits in the Bank of Com
merce but this is denied by the treas
urer of the road, E. l. Copeland who
said: Il do not understand how such a
rumor could have been started as We
have but a small balance on deposit
in the suspended bank. Our large ac-
count is carried with the First Ma
tional Bank of Kansas City, the larg-
est institution in the city and the ac-
count carried with the Bank of Com
merce was merely for our own accom-
mediation in taking care of matters
handled through that institution.
II just had a talk with DR.. Woods,
the president OF the Bank of Commerce,
during which he assured me that the
assets of the closed bank will hquidate
all outstanding Indebtedness and that
the bank will pay dollar for dollar.
Over SIS, 100000 has been paid out by
the institution during the past thirty
days; a wonderful record for any bank
ing institution and this of itself is an
evidence of the solvency of the institu-
ton"