Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-12-28
KEEPING THE MONEY AT HOME.

PUBIC dtttAtfpH mas hsfh thAttA 4
The fact that since the financial strin
sency throughout the country set IN
the santa Re railway. 10 insure tn
prompt payment OF It's employees aloni
the line monthly. and TO maintain
public confidence. has caused IL
agents to deposit their daily receipt
Of cash and checks In the loea
banks. The usual rule Is for the
treasurer Of the company to coliec.
The money daily, By express delivery
the local banks using the pay check-
as exchange and getting the cash
back later. But this took the money
away from home. and, n followed
during the stringency. would have
kept Il away indefinitely. and 50. No
vembor :. T. l. Copeland. secretary
aud treasurer Of the Santa Fe. noti-
fed the local banks and station
agents that until further orders. the
agents would keep all receipts 10
banks at home In consequence. the
money has been kept ia circulation al
home. the merchants cashing the pay
checks in settlement Of accounts as
usual. and the banks meeting them
with the Santa Fe's own money. The
effect ~ this has been. TO take care
Of employees promptly. aud also to In
spirc the public with added conf
dence IN the local banks.
Tho monthly payments At the lar
ger divisions and shop points range
from $4,000 10 100000. Very nat
urally this money. going directly into
tho local banks inspired renewed
confidence and. Of equal Importance.
Il kept the money In circulation AT
home. Following the FIRST pay day.
November IS. the effect was lnstan-
tancous Instead Of Withdrawing
their money. the larger depositors Of
the banks continued 20 deposit. Fol-
Ing the second payment Decem-
bet Is the smaller patrons renewed !
daily deposits. and nov nor
NAL conditions have almost returned
IN oklahoma. during thu week
bank holiday, the agents followed the
special rule Of exchanging with
he banks. cash and checks daily; |
company. making a special ar
-angement for the banks to issue
exchange for the agents in re-
urn. In this way, the money was
scpt at home and business went on
- usual
Speaking Of the Incident, recently
@ the Topeka journal. Treasurer
Copeland said; 1T Is simply follow
ng out the santa Fe's long establish
ii policy Of helping the country
which Our Hines traverse, from Lake
Michigan 10 the Gulf of Mexico and
Pacific occan Our prosperity
upon The prosperity OF the
ountry which supplies us with traf-
IL. ana 80 we stand by our people.
that. We having the custody Of
share of tho currency OF the coun-
~. for the protection Of the local
and merchants. felt IL to be our
'utS 10 keep that money at home
h'i' 10 htHHl pf htbi ~ tllfulhlluni
nj where II has been kept in clrcu-
Continuing. Mr. Copeland said: Il
~ receiving Information daily that
banks along the line are taking
n the I'D. and the result Is that they
re Increasing their deposits daily.
the Withdrawals are the mini
mum The santa Fe Is only a fore
unncr of what other great CORPORA
ltions are going TO do. Even the
nitod states government has come
with nto million dollars in okla
.oma to help the relief. The Santa
r. b. paying this week VA kansas q
Million dollars ~ state ana local tax.
r. half of which VIII not become
.ue until june, 1905 In Missouri We
this month. IA New Mexico We
aid last month So. from one source
r another. the currency Of the coun-
~ is getting bach into the hands OF
b. local business men, and soon the
ID VIII be on an over the land"