Jamestown weekly alert. [volume] (Jamestown, Stutsman County, D.T. [N.D.]) 1882-1925, 1907-11-21
KEEP HONEY At HOME
The nsrthwsst Being Drained Of
msnsy by chIsag cata.
legus Houses.

q. e. Naegele, president of the
8ermania bank, calls attention to
one source of financial drain upon
the northwest which he thinks should
be taken into consideration, and a
remedy applied. "ln this remarkable
sit uation," he said, "when everybody
is prosperous and there is not enough
currency to 60 round, it Is import
ant that every dollar possible should
be kept at home until the banking
business is again on cash basis. In
the cities this is being done with a
good degree Of success. and the clear
ing house certificates and cashiers
checks prevent serious embarrass-
ment. But out In the country.
where there are no clearing houses.
every dollar boarded or sent away
from home counts double.
cat this time the patronage Of the
foreign catalogue houses is a factor
that ought to be considered seriously
By their own reports two of these
catalogue houses located at Chicago,
which deal In almost every commo-.
dity of use to the home-.or farm, do
a business of 800, ,0oo, 900 year. This
is 100000 for each of the six busi-
ness days OF the week. This money
comes largely out of the country
towns within a radius of 1000 miles
Of Chicago. These catalogue houses
do not sell to Chicago people. 1t Is
from the farmers and residents 'of
towns less than 5000 population that
95 per cent of the business comes,
and at. least a third of 1t is from the
northwest. And remember, too, that
there are other catalogue houses, and
that the com bined business done by
them Is at least $500, 900. 600 annu-
ally.
II am informed that ali through
the state of Minnesota this cOmpeti-
tion of the foreign catalogue houses
has been very seriously felt by the
merchants of the small towns,to such
an extent that some have been driven
out of business entirely.
eff this has been the case during
the great prosperity of recent years,
when money was circulated freely,
what must the effect be now when
the currency is needed at home?
Money spent with the local merchant
In the locality, at least The profits
on the business are, but money sent
to Chicago Is lost from local circula-
tion.
81 notice that John j. Mitchell,
president of the Illinois Trust and
Savings bank of Chicago, declares
that cash has accumulated in the
bank 10 the amount that warrants
its return at once to the usual meth
ods of doing business. This banking
Institution is nampd as the deposit
tory of a catalogue house that is said
to receive 100000 day in postoff'ce
money orders alone, to say nothing
of what through the express money
orders and bank drafts. This seems
rather sign fcant to me. It at least
illustrates one way In which money
is accommodating In Chicago banks
that Is drawn directly from the
country section where it is badly
needed g.
"Without going into the home
trade question, it seems to me that
those who buy from a foreign cata-
lOgue house a. this time are directly
injuring themselves. for the question
of k. eping money in home circula-
tion. involves people of all condi-
tions.''
Minneapolis Journal.
The Bleached Flour Cases-The
Russell Miller Milling company which
has secur,d an Injunction against
Comm issi0ne, Ladd in regard to the
uleact1ed aour u.atter won the first
round in the legal contest Saturday
and the temporary Injunction granted
by Judge Pollock vas continued until
February l, when hearing on = per-
manent iolunction will be held.
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