The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-10-29
JUST AS USUAL.
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SOOs no O0VH6s
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Win, Mill company. Crockett Mercan-
ne company, Frank P MacLennan,
| IoPeka state journal, Joseph Bromich
SoHathan Thomas Lumber COMPANY
Hou1a western Furniture company, c.
Statement Issued.
IN connection with the New York
clearing house plan adopted Yesterday
me local clearing house consisting of
all OF the banks of the city in a state
ment issued this morning and signed
G ny Tue nine banks doing business in
topeka said: The undersigned, the
banking institutions of the city of To-
peka at a meeting held Monday, Octo-
ger 20, lsoa, by unanimous action de-
sIso enat IN view of the prevailing bus
mess conditions of the country and the
actlon taken by the clearing associa-
lions OF other financial cities, includ-
ing New York, Chicago, st. Louis,
ran! Kansas city, st. Joseph, Wichita, Atch-
lson' Lincoln and Hutchinson, and in
oroer that business may be carried on
without interruption and that legiti-
mate business enterprises may have
requisite consideration by the banking
institutions of Topeka, that beginning
To-Day no cash will be paid over the
counter In excess of 500 per day and
not TO exceed 5000 in any one week to
any OHe customer on open account or
certlncate OF deposit.
I'VE believe that with these measures
normal conditions will prevail in a
rev days and that the public will be
greatly benefited by this arrangement.
Checks will be certified as usual but
VIII be made payable through the
clearing house"
The above is signed by the Bank of
Topeka. Capital National bank, Cen
trail National bank, Citizens State
bank, Merchants National bank, Pru-
dentla! Trust company, Shawnee State
bank, Topeka State bank and the State
Savings bank. In the case of the State
Savings bank and the Prudential Saw
lngs bank payments will be made in
currency up to 10 per cent of the
amount deposited but not over $40 to
any one depositor in one week
The condition in the city today is
normal and merchants and bankers
alike agree that the emergency has
been met and that the clearing house |
ruling now in effect will be raised with |
ing ing a FEY few va days ay Arrangements have
house certificates if such |
move shall become necessary but the |
prevailing idea today is that such
course will not be necessary.
E. H. Crosby said this morning, 81
will confess that 1 was somewhat in
the air yesterday when 1 realized the
condition that we were in, with cities
from every part of the country draw
in to take its place. The ac-
ton taken by the bankers will relieve
US of any further drain and conditions
should be normal within a few days.
Our business is running as smoothly
as though nothing had happened and
our checks have been accepted with
put question whenever offered after
.hesituation was explained
At the banks everything is running
as smoothly. as though the clearing
house plan had not been placed in eff
'ect and there Is no complaint among
he patrons who seem to appreciate
he situation.
eff I had not read of the action TAX
IN by the banks in the papers 1 should
nave known nothing of the furry,
said J. w. Robinson of the firm of
Robinson and Marshall. 81 can no.
ice nothing in our business to indi-
ate a shortage of currency and there
seems to be more money offered at the
desk this morning than usual
md less checks, but 1 guess that my
may have something to
10 with that
Remittances as Usual.
What is there in the report that
rou have been instructed by the head
'ffice to make your remittances in
was asked Frank Lewis,
gent for the Pacific Express COM
amy.
Not a thing in the world. I am
making remittances today just as
ave in months past by means of
rafts. The story is a fake as far as
know and I am not sending money
ut of town.. .
The hotels in the city were the first
o feel the shortage of currency as
hey are called upon every day to cash
numerous checks for their commercial
men patrons. This is not a new con- {
ition to me-" said ]. r. Chambers of I
he ThrooD hotel. "for it has been
landing joke among the travelling /
nen for several weeks past. I
about the first thing that an east t
I'm travelling man says after he is I
egistered is: How much money can t
get on this check of mine? I have /
cen giving them cash when 1 had it s
D spare and when 1 have not L have c
iven them a check and a small r
mount of currency or else an express e
rider for which I pay with my check
The express companies have not n
efused to accept checks and say that I
hey have received no word that they q
ill be asked to by their superiors. I
hen again many of the travelling men c
nd especially those who get remit e
ances from New York are receiving !.
hem in the shape of money orders Q
hitch are cashed at the postofflce.
At a meeting of the members of the |
opeka clearing house held at IL y
clock this morning a committee was
ppointed to arrange for the issuance
clearing house certificates to be used
the transaction of business between
lie banking institutions of the city. A
eneral feeling of confidence prevailed
the meeting and the impression +
GEMS to be that the crisis is past and {
lat there will be no necessity for the
suance of clearing house certificates n
IT the use of the public. n
The freight departments of the rail- y
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