Baxter Springs news. [volume] (Baxter Springs, Kan.) 1882-1919, 1907-10-31
THE FINANCIAL OUTLOOK
Conditions Throughout Country I'm
proving and No Notable Dsvel-
opments Are Reported.
CHECK AND CERTIFICATE PLAN A SUCCESS
Business Men and Bankers General,
Satisfied With New Way Of Trans
acting Business-kansas Banks ir
Particularly Strong sltuation--ore
gon Gets Five Legal Holidays.

Chicago. Oct. 29.-The financial con
ditlon throughout the west was Tues
day satisfactory IN general TO banks
and TO the majority Of business inter
ests. In all the money centers Tues
lay through the check and certificate
plan, the banks were holding Us close
~ as possible to their issues Of cur
'ency. The banks In Kansas reported
themselves rs In a particularly strong
situation. many Of them having mliy
70 per cent In excess Of the ordinar!
egal reserve.
In Oregon. Gov. Chamberlain had iS
sued Il proclamation making the next
five days legal holidays In order tc
prevent n currency famine. All Of the
banks In Portland from whence this
news came were absolutely sound, and
there was no run or sign OF run upon
any of them.
The banks In Spokane have decided
to take action similar to that OF Chi
cago and New Y Jrk banks In order to
protect their cash reserves. All H.
nancial institutions there are reported
to be In excellent condition and con-
sidered II prudent to adopt the plan
which has been put In force in other
cities.
At Kansas City the Wyandotte State
bank with deposits of 100000 was alb.
sorbed by the Commercial National
bank. The institution was entirely
solvent.
The Chicago banks commenced their
second days business under the check
system. greatly encouraged by the
manner In which the new method was
received by their depositors Monday.
Out of 100000 savings depositors In
the city only 1900 made application
for the withdrawal of their accounts.
or gave notice Of a desire to withdraw.
The clearing house issued 10 its mem
beers, $4,000, 600 in certificates. II the
debit balances which had to be settled
with the certificates were far smaller
than usual, approximating barely
81. 100000.
John J. Mitchell, president of the
Illinois Trust and SAVING bank which
has the largest number of savings &C.
counts in the city said Tuesday:
I'VE are pleased and satisfied with
the turn affairs took Monday. This
bank received notice from 500 deposi.
tors who wanted cash. As an Offset to
that we received $50 savings deposits
aggregating n sum far in excess of the
amount for which withdrawal orders
were received. Under the circum-
stances | think the situation is sur.
prisingly strong"
The day opened quietly at the HI
bernian Savings bank which Monday
had the only trace of excitement Wis
ible In the banking situation. A few
depositors were at the door when the
bank opened. but number of them
went away without giving notice OF
desire to withdraw funds. All the
other banks In the city which had say.
ings accounts business appeared to be
ON an adequately normal basis, there
being no mole people around than
usual. At all Of the National banks
the officers reported that the check
and certificate system had worked In a
satisfactory manner. and no trouble OF
any kind was anticipated.
Throughout the west generally. II
Is reported that the financial condi-
ton is sound and that there is no APP.
pearance of run upon a bank any
where.
New York, Oct. 3O.-The financial
New York. Oct. 29.-The financial
situation was without notable develop
ments tuesday and the abating inter.
est indicated that the public had prac-
tically well gotten ove.' its scare. The
stock market was a little unsteady
but without extreme agitation.
The nOuLcement that the imperial
bank of Germany had raised its dis
count rate from 51s to 6k per cent In
order to pay its gold holdings, was not
unexpected by bankers here. II Is
thought quite likely that the Bank Of
England will follow suit by raising its
rates at the regular meeting on
Thursday. Last year. when the Uni
ted States was absorbing English gold,
the rate was raised by the Bank OF
England at a special meeting and II
will be a favorable sign II the matter
is not taken up until the regular meet
ing of the directors. The scramble
for gold is such at all the financial
centers- London, Paris. Berlin and
New York-that the metal will go to
the highest bidder. and under present
conditions New York is likely to ap-
pear for time In this role.
A Black Hand Killing.
New York, Oct. 2s.-Because he
faIIad IN carrv ouf an GRAND of ven.