The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-11-14
Ill BE Accepted by Merchants
Just Like Cash.
READY In MORNING.
Issue of Fifty Thousand Dollars
Will Be Made.
May Be Necessary to Increase
This Soon.

| There have been no clearing house
certificates in evidence in Topeka to-
day, though there are between fifty
and one hundred thousand dollars worth
OF the paper in the banks of the city.
AS Tar as the banks and the merchants
are concerned the issue was unneces-
sary executing for the care of the Santa
F'e checks which will be unloaded on
the city tomorrow to the extent of $780,
900 or over
The clearing house certificates will
be issued Friday morning to the mer-
chants of the city who anticipate a
shortage in currency in caring for the
checks issued by the Santa Fe. In the
past the banks have furnished the mer-
chants in the district adjacent to the
Santa Fe shops with currency for the
purpose of caring for the checks issued
on the 10Th of the month The shortage
OF the past two weeks has made this
an 1mpOSS1bll1ty as far as currency is
concerned and clearing house certifi-
Gates will take, the place of the ac-
customed currency.
AT meeting of the merchants held
in the Commercial club rooms week
ago resolutions were adopted assuring
the bankers of the city of the conf
dence reposed in them and this is
strengthened by the attitude today OF
the merchants of the. city The scrip
issued by the clearing houses will be
accepted on the same basis gold,
will pay just as large a debt and be
just as acceptable to the merchant
creditor as the currency issued by the
government. s ,r
While but $4,000 worth of the scrip
has been placed in the hands OF the
bankers of the city the feeling among
the merchants is that the amount VIII
have to be doubled; to take care OF the
checks which will find their way into
the tills of the business men of the city.
hu m
Aside from the payroll of the Santa Fee
there are numerous smaller payrollS'
which must be cared for
The merchants uof the city are in
hearty accord with the action of the
clearing house committee auth orlzlng
the issuance of clearing house certifi-
Gates and feel that the action taken
will result in trade maintaining Its
of doubt but the certificates will be ac-
copied in all quarters as readily as
government notes or gold IN payment
of obligations.
house certificates?S was the question
.propounded to. Arthur Mills of the firm
of Mills & Company II, a.s1,
"Well, we-will- aecpet them at par
feel that we would. be justified in Offer
ing about a dollar five for Tthe first
thousand dollars offered at the store.
They will be accepted at our store just
as readily DIS CdSii'. 1o Aii1 IAio
description. I feel that our attitude
is the same as that of every other
merchant in the city for there no rea-
son that 1 can see why they should
not be acceptable in payment for pur-
chaSes made or accounts due.
Certainly we win accept the clear
ing house certificates when presented at
our store'' said E. H. Crosby of Crosby
& Co. It regard them as just as safe
and just as good as money of any kind
it in greenbacks, gold backs or any kind
of backs and they will be Just as ac-
ceptable at our store.
William Marferran, of the State Saw
ings bank, said: we will follow our
usual custom Friday and will have a
of our bank at the r.
R. Y. NJ c. A. for the purpose of taking
care of the checks presented by the
members of the association
ing house certificates" said j. c. Mar
shall, of the firm of Robinson & Mar
shall, when presented in payments of
accounts or for purchases. Why
shouldn't we. They look just as good
as the money OF the government to |
U.s." ..lscs
! Things in this part of the city will
go on Just as they have in the past,
said Harry Whittlesey, of the Whittle- |
sey Mercantile company, who has one
of the largest stores in the Santa F'e |
shop district. 1--WE will pay as much |
cash as possible but will be compelled
to resort to clearing house cert1hcates'
but they are as good as gold in my est1-
nation. We will accept them just the
same as cash when presented and IL |
seems to me that the scheme OF issuing
them Is a good one from all stand
points of view.