The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-10-31

VIII BE Big Help.
Chicago, Oct. s1.-speaking of the
crease the bank note circulation
President John J. Mitchell of the Hi,
nois Trust & Savings bank of this city
said:
There is no doubt that it will have
substantial effect, and will relieve the
situation very materially. At the same
time, however, the stress of the finan-
cial situation is today nothing in COM
parison with what it has been. The
people have largely recovered from
their slight Mysteries and the situation
is brighter in every way. 1 have no
idea how much the increase in circula-
ton will be in this city, but it will be
several millions"
President George NJ. Reynolds of the
Continental National bank said:
The plan will be very great help
and the bank will avail themselves Of
it. In my opinion it will greatly re-
lieve the situation. There is no telling
at present how much the Chicago
banks would increase their circulation,
but probably in the neighborhood OF
three millions. Business conditions are
steadily improving, and the general
situation is much more favorable now
than at the opening of the week,
St. Louis Bankers Like It.
St Louis, Mo, Oct. 31.-Concerning
the statement issued by Comptroller
Ridgely with regard to a plan for the
Immediate increase of national bank
note circulation, several expressions
were made this morning by st. Louis
bankers.
]. J. McCleanry, vice president of
the State National. said:
Il think it is a very good scheme
and all banks that have government
bonds deposited to secure United
States deposits should take advant-
age of it, make the exchange suggest
ed and take out circulation against the
bonds wit hdrawn
G. H. Huttig, president of the Third
National bank and member of the
currency commission of the American
Bankers association, said:
81 heartily approve of Comptroller
Ridgely's suggestions as to the best
method of securing an immediate in
crease of national bank note circula-
ton. He recommends the substitu-
government bonds that are now
hypothetical for federal deposits.
This would release such bonds and
make them available for circulation.
The situation is greatly improved. 1t
is important that bankers as well as
depositors keep their heads cool. st.
Louis banks and trust companies are
doing all they can to keep the wheels
of commerce moving and to help out
the southwestern crop movement"
Bankers Jump at the Offer.
Washington, Oct. 31.-Treasury Of
ficials are agreeably surprised at the
number of banks throughout the
their purpose to comply with the sug-
gestion of Comptroller of the Cur
rency Ridgely that additional circula-
ton be taken out Although the sug-
afternoon a large number of tele-
grams were received at the depart
ment as early as o'clock this morn
ing, asking for additional circulation
varying in amount from a few thou
sand dollars to two millions.
George e. Roberts, former director
of the mint and now president of the
Commercial National bank of Chi
cago, is here and has engaged $1,000
GOO additional circulation for his
bank Sol wexler vice president of
the Whiteny National bank of New
Orleans, is also here and is making ar
rangements to materially increase his
holdings. Other prominent bankers,
Washington representatives, are ar
ranging to deposit the necessary Sc
curities preparatory to taking out ma
tional bank notes to the limit of their
capital stock. The comptroller now
has in his vaults national bank cur
rency to the amount of 1857, 100000
and while a considerable proportion
of this belongs to banks that have al
ready reached their limit under the
law. very large sum is available for
banks that carry only a small amount
when compared with their capital
France Ready to Help.
Paris Oct. 31.-The Bank of France
today indirectly gave out the following
statement:
In regard to rumors current that the
Bank of France is disposed to remit to
London or New York 100000 pounds
against sterling bills, as X did last year,
it can be authoritatively stated that no
formal request of this nature has
reached the Bank of France from Lon
n f6n= 1,ae oNe.I
that should such an appeal he received
the Bank of France inspired by the