The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-12-17
IN GOOD SHAPE.
Bankers That Didn't Put on
Lid Reap Reward.
Have PrOffted by Not Putting
on a Limit.
PROBLEM OF THE DAY.
Wonder What Will Be Effect of
Resumption.
Bankers That Didn't Quit Are
Not Worrying.

|
cause they have plenty of money an6
are not worried by what might happer
when payments are resumed"
This is the opinion expressed by ont
of the officers of the state banking de-
partment, and he proceeded to cit,
some instances to illustrate his state
ment.
"Out here in central Kansas have ir
mind the case of three good sized
towns situated not far apart he said
| One bank in the town located midway
between the other two towns refused
to put on any lid. All the other banks
in all three towns placed a limit on
| Withdrawals. The result has been that
| the one bank which continued to do
| business exactly as usual now has more
| money on hand than ever before, and
| it's depositors and the amount on de-
posit have steadily increased. This is
because depositOrs not only in other
banks in that town, but in banks in
the two neighboring towns, have been
sending their money to this bank which
didn't use the lid. They were willing to
place their money there because they
could get it out whenever they Wantd
it."
1t is announced by the bank commits
sioner that the forthcoming bank state
ment will show a falling off in the de-
off is not unnatural. Merchants are in
many towns not depositing money in
the banks, but are keeping it in their
safes and are depositing the checks
which they receive. They save the cur
rency and silver to pay their checks.
The result is that the business of the
banks is lessened, and the tendency is
to keep money from flowing into the
banks. The removal of the lid would
do away with this tendency.
One of the towns which has no cid"
is Winfield. The Winfield banks felt
that they were strong enough to meet
all claims. and they have continued to
do business just as usual. The result
of this policy is summed up as follows
in the Winfield Free Press;
''The surprising and agreeable thing
about the bank statements published
in today's issue of this paper reveals
the fact that the total deposits of the
four banks of this city are within
s424.54 of what they were at the date
of the last published statements nearly
four months ago. This is to say that
on August % the total deposits were |
81, ,074, 1872 81 and now the total deposits
are $2,074,457S3. A shortage of only |
s424.54.
TT is unnecessary again to repeat |
what has been stated before, that the
policy adopted by the banks of Winfield |
in keeping open and doing business re- |
gardless of the action of other banks |
over the country during the past six |
weeks has been approved by our people, |
and is the main reason for the splendid |
that Is today possible. There
is not another town in the country any,
where that can show such a magnif1
cent example of confidence in their
banks. It is a valuable commentary,
not only on the good sense of the bank
ers themselves, but upon the patriotism
Of the patrons of these banks. AS
matter Of fact deposits in all banks
shrink at this time of the year for it is
The time for settling up all of the bills
generally, for the year, so it would not
have been unusual under ordinary cir
to have bank deposits
shrink thousands of dollars at this
time, but instead of that they stand
right up to where they were at the high
water mark in August. Congratula-
ions to the splendid example of conf
ience displayed by the farmers Of this
Let us all continue to pull together
and show to the country how Winfield
md her people do things under trying
A gloomy view of the situation Is ta-
zen by a Topeka correspondent of the
financial department of the New York
,gnized as one Of the standard f1nan-
,ial publications. 1t says, under a To-
oeka date line of December IL:
The problem of the country banker
s becoming more acute as the days go
" without resumption of currency pay
nents,' visiting banker from the
wheat belt declared today. 1T is COM
,arative1y easy for the city banker
With his business confined to the trades
nen and industrial concerns. He deals
With secondary business movements.
We in the country towns are
It the initial points, and we are to a
Iegree dependent on the whims of the
,rieinal producers For instance, a
armer in my county has 5000 bushels
II wheat In his granary, and the price,
8 cents. is good enough-but when the
,uyer went to him he asked, What {
II let it stay there awhile-I don't {
iced the money anyhow Same way t
With hogs and cattle. So there is moth
ne moving and we are using up our t
xchange account day by day Last I
light I had to send 900 In drafts 1
asst to pay for goods purchased by the
oerchants 1t was about all 1 had II
will have to pay premium to get
nore. Then on top of it. comes city
ank with some collections, and SAYS
hat it will take nothing but Chicago ,
r New York exchange. In other words,
he big cities west of the Mississippi
re such rivals that they knock on
ach other-and so grind the country c
anker in the operation.
"- One bank in our county tried to S
ay currency without limit. It's deposits q
lcreased, but they were all in checks. S
-esterday it suspended payment of all t
urrency for 80 days. 1t was a lesson h
f what will happen if we let up, un- t
,ss all act together. Too many persons a
re getting their money into 500 bills e.
} suit me. Every country bank is d
olding to it's cash and is boarding as o
ell as it's customers. Every city bank il
a loosening, the primary trade CEN el
srr tho ShippinQ p0fntS f0r nvrafp sj