Omaha daily bee., 1907-11-01

by eight banks, IL in en- average
of only a little more than $4,000
| for each bank, while back of the
| checks are the eombinsd resources
OF the Omaha ana South Omaha
| banks, or more than eso,0oo,Oo0.
! One hundred times ne much actual
money, securities and property Sc
cures the cashiers checks ~ IL
| placed with the United States
treasurer to guarantee the payment
Of bank notes for the same amount.
|
! Bankers Of Omaha praised the public ana
their depositors who have more than s4s,-
100000 I'm their vaults. when they held THEN
regular clearing house meeting Thursday
morning for the sensible way in which the
/ public has accepted the clearing house rul'
/ ing, which required the Withholding Of
cash and extension of the check system.
I'VE have acted as public servants in the
matter and did not make the rule to serve
| our own ends as individuals or as banks"
| said President Yates Of the Clearing House
association. THE depositors and the public
generally have accepted the situation In
| that way and It Is due to their good
sense that the banks have been enabled
to protect the money in the vaults OF
Omaha against the acquisitions OF eastern
/
certainly appreciate the cooperation OF
their depositors."
Ex-senator ], VI. MIlare. president Of
the Omaha National bank, said "Ths
! bankers certainly feel grateful TO their
! depositors, who have assisted them the last
/ few days In clearing up a situation for
which there has been no necessity in
Omaha except as precautionary measure.
| The sensible way In which dspositors have
assisted the bankers is worthy OF praise
and their confidence has been a great
help to the bankers"
| With the situation so well in hand and
the financial horizon clear OF single
cloud, the bankers OF Omaha said when
they opened the doors Thursday. that they
could hang signs in their banking rooms
with safety, which would read: Nearly
over"
PayrOIs Will he Met.
Preparations have been made to pay the
pay rolls Saturday in cash. while the
monthly pay rolls, which will be paid
Friday will be met a usual. II employers
have been paying in vouchers or checks.
they will issue them as usual and they will
be exchanged at the banks for currency
and cashiers checks.
In mailing out vouchers Thursday several
large houses took the precsution to warn
their employees against INSCRIPTIONS per-,
sons who might attempt to discount the
pay checks.
| Your pay check is worth just as much
as 1t was last month";" reads one OF the
circular letters sent with vouchers Thurs-
day. You may deposit It In the bank 70
your credit. II you have an account, or
you may receive currency and cashiers
checks for II at any of the banks These
cashiers checks are Just the same as money
and may be used just the same. Do not
endorse them to anyone as they are pay
able to bearer and are not subject to Q
discount OF any kind DO not take a single
cent less for them than you would for S,
$40 or so bills. and you should notify your
banker of any attempt to force you TO
discount the checks or pay vouchers"
RRscRIs Are At WSrk.
Intimations have been received at the
factories and houses where large forces
are paid with vouchers that interruptions
persons had planned TO secure a small dis
count when they accepted the pay vouch-
ers and the circular letters resulted.
Cashiers checks are in general circula-
ton now. 1t is no uncommon thing to get
two blue ones for yellow one. or a gresn
one and q pink one In exchange for q
gaudy red one. When they find their way
back TO banks in deposits they are cancelled
II folded or the least soiled and the new
circulating medium is quite the rage. Men
partial TO certain colors may have any
tint they desire. while women may fire.
quently secure money which will match
their suits and hats. thus adding another
detail to the uniform In dress which ia
quite the fashion.
Numerous country bankers have been ia
the city the last twenty-four hours either
-. oh.
to handle the business. Shipment OF
cashiers checks continues ana the banks
are quite liberal with the country institu-
tions. When requests come IN for a few
thousand dollars the bankers receive part
OF the amount in checks and not infre-
quently a large portion OF IT In actual
money The bankers have neat little
circular letter which they send with the
amounts. explaining that a certain portion
is In currency and the balance In checks
ana informing the customers that as soon
as money payment in fun is resumed In the
cast the checks will be exchanged a. the
Omaha banks for actual money.
Checks for sax Banhs.
One OF the big bundles OF checks was se-
cured by Thomas NJ Huntington OF Gordon
Thursday for the six banks OF sheridan
county. MT Huntington came to Omaha
20 inquire about the county clearing house
system" and incidentally secure something
70 use as money IN the western part OF the
state, He secured $4,000 in certified checks
and forwarded them 10 the banks IN sher-
idsn county. Other banks are ordering
freely and Omaha money" win have a
wide circulation in the state. From Has
tings the bankers have received word that
200 business men signed an agreement 20
AZ fha A. 4.