The Mena weekly star., 1907-10-31
HE FINANCIAL OUTLOOK
Conditions Throughout Country I'm proving and No Notable Devel'
 opments Are Reported.
CHECK AND CERTIFICATE PLAN A SUCCESS
Business Men and Bankers Generally Satisfied With New Way of Trans acting BusInsss--ksnsas Banks tn Particularly Strong situatlon--Orc pon Gets Five Legal Holidays.

Chicago, Oct. 30.--1he financial con dition throughout the west was Tues
 day satisfactory in general to banks and to the majority of business inter ests. In all the money centers Tues day through the check and certificate plan, the banks were holding as close ly as possible to their issues of cur rency. The banks in Kansas reported themselves as in particularly strong
 situation, many of them having fully 50 per cent in excess of the ordinary legal reserve.
 In Oregon, Gov. Chamberlain had is
 sued proclamation making the next five days legal holidays in order to prevent a currency famine. All of the banks in Portland from whence this news came were absolutely sound, and there was no run or sign Of run upon any of them.
 The banks in Spokane have decided to take action similar to that of Chi
 cago and New Y..rk banks in order to
 protect their cash reserves. All fl.
 nancial institutions there are reported to be in excellent condition and con sidered 1t prudent to adopt the plan which has been put in force in other cities.
 At Kansas City the Wyandotte State bank with deposits of $500.0o0 was ab sorbed by the Commercial National
 bank. The institution was entirely solvent.
 The Chicago banks commenced their second days business under the check system. greatly encouraged by the manner in which the new method was
 received by their depositors Monday. the city only 1,500 made application for the withdrawal of their accounts, or gave notice of desire to withdraw. The clearing house issued to its mem. bers, $S,000.000 in certificates. If the debit balances which had to be settled
 with the certificates were far smaller
 than usual, approximating barely $1.500.0J0.
 John J. Mitchell, president of the Illinois Trust and Saving bank which has the largest number os savings ac- counts in the city said Tuesday: We are pleased and satisfied with the turn affairs took Monday. This bank received notice from 809 deposi- tors who wanted cash. As an offset to that we received S90 savings deposits aggregating sum far in excess of the amount for which withdrawal orders were received. Under the circum-
 stances I think the situation is sur prisingly strong"
 The day opened quietly at the HI. bernian Savings bank which Monday had the only trace of excitement vis- ible in the banking situation. A few depositors were at the door when the bank opened. but number of them
 went away without giving notice of
 desire to withdraw funds. All the other banks in the city which had saw ings accounts business appeared to be
 on an adequately normal basis, there
 being no more people around than
 usual. At all of the National banks the officers reported that the check and certificate system had worked in a
 satisfactory manner. and no trouble of any kind was anticipated. Throughout the west generally, it is reported that the financial condi- tion is sound and that there is no ap- pearance of Q run upon bank any
 where.