The Mena weekly star., 1907-10-31
THE NESI TAXES ACTION
Clearing Houses of Various Bust. ness Centers to Issue Certif-
 cates to Members.
MOVE MADET HOLD CUHHENCYIN BANKS
On Account of cfusa of Kansas City and Chicago to Ship Currency to Country, all Banks In Oklahoma are Closed for one Week by Governors Proclamation.


 Country, all Banks In Oklahoma are
 Closed for one Week by Governors
 Proclamation.
 Kansas City, Mo. Oct. 29.-The Kansas City Clearing House associ- ation in conference here Sunday night requested the Associated Press to send out the following statement to It's country correspondents:
 "To the Bankers of the Southwest:-
 "In view of the action taken by the clearing houses of New York, Chicago. St. Louis and other cities, in order to protect the business interests of Kan. sas City and the Southwest, the Kan. sas City Clearing House association will issue clearing house certificates as needed, and will require all pay ments to be made through the clear ing house.
 Tt suggests that banks make all payments by drafts payable through the clearing house only.
 Kansas City Clearing House Assn"
 Bankers say this precautionary ac- ton was made necessary for the pro lection of local financial institutions because the same action had already been taken by the clearing houses of the larger cities of the East.
 The Bankers Trust company closed its doors at 10 o'clock Monday morning. w. c. Irwin, assistant sec retary of state, took charge and posted a notice on the front door making the announcement. The Bankers Trust company had taken over the assets of the old City National bank. It has s2O0, ,0O0 in stocks of state banks in Missouri and Kansas and about $300,- 900 deposits from these banks. It's af- fairs were In such shape that the sec retary of state had been watching 1t for a month
 Chicago, Oct 29-Financiers and bankers of Chicago Sunday night looked forward with hopefulness to the probable continuance of the present financial solvency of Chicago banks and trust companies. passing their expectations on the protective measures taken by the clearing house association Saturday night in ordering the issuance of clearing house certifi- cates and the putting in force of the legal notice that may be required for the withdrawal of of savings bank deposits. The Clearing House associ- ation held a long meeting Sunday to discuss the possible developments in the present money stringency and to perfect details of the new plan adopt ed to ward on possible scarcity of cash.
 Oklahoma City. Oct. 2S.-On demand
 Oklahoma City, Oct. 29.-On demand Gov. Filson has issued proclamation closing the banks of the territory for week. The acton was taken because .he banks of Kansas City and st. Louis refused to forward cash to the banks Of the southwest. It Is said that a consultation of the bankers of Okla homa, Indian Territory, Arkansas and Northern Texas, by means of tele- phone. took place during the early hours Monday morning. and all have taken a similar action. There had been no uneasiness in this city and the bankers say the deposits last week were greater than at any previous week in the month.
 The closing is for the purpose of nrOfactfno tho hopLc fin roco nf rlln Since the banks here could not get cash from Kansas City in case of a run, they considered the risk too great
 The banks of this city are carrying many of the small banks over this ter ritory. They have arraigned to issue clearing house certificates to carry them until conditions have improved
 The banks of the southwest are fur ther embarrassed because of the de- mand for cash to move the cotton crop. It was necessary to get cash from the east to meet the demands. The refusal of those banks to forward cash caused the banks to take radical steps to protect themselves.
 Omaha Neb., Oct. 29--All national banks in Omaha ceased paying cur rency in more than $100 amounts Mon day morning and on small accounts only 20 per cent of the amount on de- posit will be paid. For amounts above 20 per cent of deposits clearing house certificates are issued. Generally busi ness men are satisfied with the certl' fled cheeck system, but the small de- positors are uneasy over the situation
 The City Savings bank, the only one in this city. Monday morning took ad. vantage of the 60 day clause and IS not paying cash under any considera- tion. All state banks in Omaha nave taken similar action to that of the national banks.