The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1907-11-07
Workingmen Of the City Not To
Suffer on Account Of the Short.
age Of Currency in Country
ALL WILL HAVE REAL MONEY
First National Bank Makes Special Ar
rangements to Take Care of the Big
Pay Rolls of the City Factories
During the Shortage

kenosha working men are not to
suffer on account of the shortage of
money in the country, on account of
the fact that the First National Bank
announces Friday that the bank will
take careof the pay rolls of the big fac
tories and employing contractors.
This does not mean that all demands
of all people will be paid in cash but
that the men actually employed as
workmen will receive their money as
formerly. It is a decidedly hard mat
ter to get ready cash but the bank has
made special arrangements to take
care of the pay rolls. Money needed
by contractors and manufa cturers for
the payment of bills for materials
must still be accepted in the form of
certificates of deposit as the ready
cash is not sufficient to provide cash
for all items.
W. H. Purnel1 Of the First National
Bank said Friday morning: "We are
going to continue making up the pay
rolls just as before and if we-can help
1t the working men of the city will
not have to wait an hour for his ready
cash wages. It is almost impossible
to get money from sources outside of
the city but we have made arrange
ments by which we can get the money
for these pay rolls. Of course we are
asking our customers to take the
funds for materials in the form of
certificates of deposit which are every
bit as good as cash but we feel that
the workingn1en might not fully
understand this system and for this
reason we are going to get the cash
for the pay rolls. This will in
clude the pay rolls of all the
factories and for such contractors
as are banking through this bank.
There is absolutely no trouble in the
Kenosha bank as there has been little
demand for deposits among the de-
positors, the only demands coming
from the savings department and these
have been less than half a dozen in
number. Where the people have been
IN real need of the money the demands
have been paid but where it is not
necessary we are ready to ask for the
regular notice"
All of the factories in the city save
one have their pay rolls made up at
the First National Bank and it is GER
tain that the Merchants and Savings
Bank will make the same arrange
ments for the benefit OF the working
men. The Kenosha pay rolls are no
| small matter and the fact that the Ke-
nosha bank is providing the cash for
them shows the stability of the insti-
tuition and the long headedness of the
managers of the institution.
While the Chicago banks have been
crying out for cash the Kenosha
banks are pretty well supplied but
the managers of the banks intend to
keep a goodly supply of currency on
hand against any possible continued
shortage in the money market.
Neither of the Kenosha banks have
had any sign of uneasiness among
the depositors and none is expected.
Both of the banks are ready to pay
and the people seem to know it.
In Chicago and Milwaukee the use
of the certificates of deposit and
clearing house certificates has almost
entirely superseded the use of cash
as medium of exchange where large
amounts are concerned and the peo-
pie of these cities are apidly becom-
ing reconciled to this new and better
way of doing business.