Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1907-10-29
FINANCIAL CONDITIONS IMPROV-
CLEARING HOUSE CITIES
ASSUMING NORMAL CONDITION
Worst of the Crisis Is Over on Wall Street Chicago Pay
rolls Kept Up...FargO Banks Issue Certificates
---Oae Bank Failed in Kansas CITY
viii issue Certificates

~ ~ gsE *
Fargo, N. D., Oct. 2S--Banks OF this
city and of Moorhead, Mimi, today de-
cided TO issue clearing house certifi-
Gates, beginning with tomorrow
Only One Bank Failed in Kansas City
Kansas City, Mo-, Oct. 2S- Outside
of the failure of the Bankers Trust
Company with deposits of 100000
there was no real trouble here today.
This bank was considered the weakest
institution of its kind here and its
failure caused no surprise and hand no
apparent effect upon the general situa-
ton No other banks were affected.
and there were no runs on any OF the
banks or in Kansas City, Kansas.
The refusal of banks to restrict the
payments of currency caused but lit
tie embarras sments Ali national banks
in Omaha ceased paying currency in
more than 500 amounts today and on
small accounts only 20 per cent of the
amount on deposit will be paid for
amounts above 20 per cent of the de-
posft for which clearing house acertifi-
Gates are issued. 6s,
The City Savings Bank, the only one
in this city this morning took adVant-
age of the sixty days clause and Is
not paying cash under any considers
| ton All state banks in Omaha have
! taken similar action to that of national
banks. ~~~~- "~e~~.-' -~.~~~ Il. D.,
More Reserve Than Required
Topeka, Kan, Oct. 2S-John @.
Royce, state bank commissioner, in a
statement issued tonight, says that
practically every one of the TAI banks
in Kansas is carrying fifty per cent
more reserve than the law requires
Many banks are carrying fifty per
cent of their deposits in cash. While
it is only required that they carry
twenty per cent. 1t is not the fault of
the bankers that reserves are so heavy.
but deposits within the last few
months have been so great that it has
been impossible to loan money as fast
as it came in.
| Little Trouble in Windy City
Chicago, H., Oct. 2S-Very little
trouble was caused here today by the
action of the clearing house associa-
| ton i'm limiting the amount of money
i to be paid out by the banks "
Business today was almost entirely
on the checking basis and was appar-
emily normal in all directions. The
: banks adopted the rule of not paying
out currency in amounts greater than
! 500 unless funds were required for
payrolls. If depositors desired money
in excess of 500 they were asked TO
take cashiers check for the amount
In all savings banks the rule requir-
ing legal notice was enforced if the
deposftor wished to withdraw an
amount greater than $500. The rule
was elastic, however, and the banks
imposed hardship upon no one.
Money desired for the payment OF
rent, insurance policies. Or for neces-
sary travelling was paid out promptly
In cases where notes were to be paid,
the banks usually asked that the notes
be presented to them for payment.
The only semblance of a run during
! the day was at the Hibernian Savings
Bank, where many depositors gave
notf2e during the day of their inten-
ton to withdraw These notices in
the aggregate, however, were not OF
sufficient amount to constitute q run
At one time the Hibernian Bank be-
came so crowded that it was found
necessary to cali upon the police head
quarters for additional aid in control
. ling lines of depositors who were in
tent upon giving notice to the bank,
, but there was no confusion worthy of
the name and no excitement at any
q time.
) At the close OF business for the day
! all banks declared themselves at sat
j isfied with the business of the day and
& we're greatly pleased with the manner
In which the businessmen of the city
had met changed conditions. The be-
lief is expressed here that the method
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