The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-11-01
AIR Is CLEARING.
Local Financial Situation Con-
tinues to Improve.
General Feeling of Confidence
Prevails.
MAY LAST A WEEK.
Then 1t Is Believed Business
Will Be Normal.
Between Forty and Fifty ThOus-
and Paid by Santa Fe Today.

The meeting of the Topeka clearing
house this morning indicates that the
banks of the city are in better condi-
tion than they have been since the
emergency was declared Tuesday, caus-
ing the adoption of the New York clear
ing house plan of paying but 500 IN
currency on demand and but $500 with
in one week. There is not a bank in the
city that has less currency on deposit
than when the rule went into effect
The showing made by the banks is
remarkable when it is considered that
the public is not informed as to the
meaning Of the steps adopted by the
clearing house when it announced that
clearing house certificates would be is
sued in lieu of cash if the emergency
should arise. 1t is also demonstrated
that the banks of the city are in bet
ter shape today to take care of the
business of the city than they were the
first of the week.
Everywhere a general air of conf
dence prevails and those unfamiliar
with the banking situation feel that
the bankers of the city have a rein on
the situation and that trouble is not to
be anticipated from any source. The
deposits of currency in the banks of
the city have increased from day to
day until they actually have more cash
Inan In6y Know WndC 10 90 WILL
A heavy withdrawal of the currency
deposits is anticipated Saturday as
many of the larger institutions In the
city issue checks to their employees to-
morrow and naturally these will find
their way to the banks. So far the
clearing house has not been asked for
assistance by any bank in the city and
the indications are that it will not be
as money has been flowing into the
banks in an uninterrupted stream
Arr nj lat tad
for the issuance of clearing house GER
tificates to the public if it becomes
necessary and the forms are in the
hands Of the printers 1t is the opin-
ion. of the best informed bankers of
the city that this expediency will be
resorted to before the present furry is
past though it is matter of con-
lecture only.
does arise the clearing house will be
in shape to issue the certificates on a
moments notice to the banks desiring
this medium Of exchange. Business
was about normal this morning and
there has been little if any complaint
from depositors whose money is tied
UP in the banks.
The state treasury resumed the pay !
ment of cash this morning and the |
checks of the employees of the state
are being cashed as presented. There |
are a number of repositories over the |
state which contain the money of the |
state and 1t Is understood that they |
came to the rescue of the credit of the |
state treasurer. One Topeka bank |
which is known as one of the strongest |
institutions of the kind in the west |
notified the state treasurer that it |
would send up 10000 on demand or
more if necessary though 1t is under |
stood that but a portion of this
amount was asked for.
The idea prevails among the bankers |
of the city that the present conditions |
g. 10,
longer and there is a possibility that |
conditions will not right themselves in |
this time. Nothing will be done In |
Topeka towards changing the condi-
tions until something transpires in New /
York city which will warrant the bank
ers of that money center in raising the
clearing house plan adopted a week |
ago today.
Santa Fe Is Paying.
The first of the month is pay day at
the Santa Fe offices in Topeka and the |
checks are being issued as usual and |
the holders are presenting them to the
cashier where they are being ex-
changed for cash. This means that be-
tween $4,000 and $4,000 will be
turned loose in the city today and /
much of this will find its way into the
tills of the merchants of the city or into
the banks.
1--WE are cashing all of the checks of
our employees today" said E. l. Cope
land, treasurer of the Santa Fe, land |
have all the money that We need for |
the purpose and then some to spare. |
Wherever there has been a demand for |
currency over the state from our sta
tion agents we have sent them the |
amount requested, though these re-
quests have been few and far between.
There is no stringency with US and
cash keeps coming in at the usual rate
though we read in the papers that there
Is q shortage Every one of our en-
ployes In the offices can go home to-
night with the money equivalent for
their checks If they so desire. We an
ticipate no trouble as far as the cashing
of checks is concerned at any point |
along our lines and most certainly not
here in the city,
EIks Out of Iron Not Cash.
Some one noticed that work has been
stopped on the new Elk club house at
the corner of Seventh and Jackson
streets and Immediately the report be-
the inability of Contractor Evans to se-
cure money with which to pay his men,
When asked as to the siuation, Mr.
Evans said: well, I should say not; !
there is nothing in the story. What we
want at this time is iron, not money
weeks ago the iron for the building
was ordered but it has not shown up
yet and we cannot go ahead until 1t
arrives. I understand that there is a
strike on in the city among the iron
we cannot get the iron which we must
have before we proceed. We are not in
need OF gold, but 1T is iron that we
want and we want iron badly"
A Joker stopped in at a bank and
asked to be permitted to withdraw his
5eposit of 81 900 and when told that he
.ould get but 800 said: II guess
hat I will just dynamite this institu-
ion" A customer heard the jest and
before the story reached the Copeland
a. go ? "a "a 4