Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-12-26
SANTA FE HELPS
IT'S OWN COUNTRY
Agents Instructed TO Deposit
Daily Receips in Local
Banks.
THE MONEY IN CIRCULATION.
Good Example Followed 10y Other In
dustries and Various Institutions
Are Kept Prosperous.

topeka kas.. Dec 26-Since the a.
hancial stringency throughout the
country set IN. the santa Fe Railway.
20 insure the prompt payment OF its EN-
ployes along tho line. monthly. and TO
maintain public confidence. has caused
ITS agents 10 deposit their daily receipts
on cash ana checks iu the local banks
The usual rule Is for the treasurer Of
the company TO collect the money daily.
by express delivery the local banks us
ing the pay checks as exchange and
getting the cash back later. But this
sooN tne money away from home, and.
II toiloWed during the strlnucncv. would
nave Kept Il away indefinitely: ana SO.
Nov Z. r. L. Copeland, secretary ana
treasurer OF the Santa Fo. notified the
local banks and station agents that. un-
w further orders, the agents would
keep all receipts In banks az home.
SCHEME A SUCCESS.
I'm consequence. the money had boen
Kept in circulation at home. tE. mer-
chants cashing the pay checks i'm settle
Henl OF accounts as usual and the
banks meeting them with the Santa
res own money. The effect of this
mas been. TO take care of employees
promptly. and also to inspire the public
Wua ADDED confidence iu ihe local
RESULT IMMEDIATE.
The monthly payment at the larger
CIV lslons and shop points are S25. 600 10
%o0,OJO' in Topeka 5000 000 Naturally
TINS money going into the local banks,
udlly' inspired renewed confidence and.
OF equal Importance. it kept the money
IN circulation az home Following tho
nrst pay day, Nov. rs. the effect was
instantaneous Instead of withdraw
nS their money the larger patrons
ID n hH. nh
lowing the second payment Dec Is.
the smaller patrons renewed their daily
deposits, and now normal conditions
almost have returned.
IN Oklahoma, during the week hank
holiday, the agents followed the same
special rule of exchanging with the
banks cash and checks daily; the q, M
pany, making "a special Arrangement for
the banks 20 issue sight exchange To
the agents in return. In this way the
money was kept at home and husil ass
went on as usual
Speaking ~ the incident. tr7ay.
Treasurer Copeland said 1T simply !
Is following out the santa FEES long |
established policy OF helping the ccun- |
try which our lines traverse, ..9m Lake |
Michigan 10 the Gulf e. Next % and /
the Pacific ocean. our prosperity de- /
ponds on the prosp srity of the country /
which supplies US with traffic, end so /
We stand by our be lplC. Besides that, /
we having custody cf share 81 ne |
currency of the country, for ,he pto-
lection OF the local banks and mer-
chants. felt 70 to be nur DUTY e. keep /
that money az home where il might be
kept ia circulation, and where it has
been kept On Circulation"
COPELAND TALKS.
Continuing. Mr.. Copeland said. IT
nm receiving Information daily that
he banks along the line are taking Of
he I'D and the result IS that they are
Increasing their deposits daily. and the
are the minimum. The
santa Fe is only a forerunner OF what
'ther great corporations are going ta
10. Even the United States govern
nent has come in with $1,000. 600 I'm
oklahoma 20 help the relief The Santa
'e Is paying this week in Kansas ST.
10000 of state and local taxes. half
# which VIII not become due untn
une, 1908. In Missouri we pay this
month In New Mexico we paid last
month. 50, from one source or an.
ther, the currency OF the country IS
.ettlng back into the hands OF the
1cal business men. ana soon the ma
.ill DE of AN over the land"