Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1907-10-03
Returning Iowa Banker Fells
Pulse OF Financicrs in
the East
CONDITIONS ARE SATISFACTORY
General Opinion Anticipates Slowing
Up in Business, But That Nothing
Like Panic is PossibIe-lowa's Pros
perity Commented On BY Eastern
Bankers.
Special TO Times Republican.

Burlington, Oct. 3.-Mr. j. H. Ed
wards, president of the Merchants
National bank, has returned from the
annual convention of the American
Bankers Association held al Atlantic
City. Mr. Edwards is a member of
the executive council, and this Is the
tended
There were two thousand delegates
present. and Mr.. Edwards pronounced
the gathering one of the most success
full in the history OF the association in
the amount of valuable work accom-
plished.
Mr.. Edwards kindly consented to an
interview regarding the business
outlook and conditions IN general, as
expressed in the views of the prom
inent bankers that he met from all Sec
tons OF The country. Mr.. Edwards
said
1T was the general opinion of the
bankers that | met that there VIII be
a slowing up in business, but that no
panic or anything like it is possible.
Any cessation in business viii be
slight. Outside the gloom in Wall
street business conditions turnout the
country are IN good shape. The gem
eral prosperity turnout the west and
south. and the high prices that farm
ers are receiving for their crops, will
make up for any shortage in this
years crops. The general feeling
among the delegates was one Of
optimism. These men are probably
better Informed on the present condi-
ton of affairs In the United States
than any body of men that might be
brought together. They keep closely in
touch with the crop situation, and nat
urally their positions know fully the
actual condition of the manufacturing
industries of the country. They are
convinced that the general prosperous
condition will continue with perhaps
slight recession which will in the long
run be of benefit to the country. Trade
has expanded beyond the funds avail
able to handle it. A committee was
appointed at last years convention al.
st. Louis to draft currency plan
which will relieve the stress that al.
ways occurs at this time of the year.
A result of the necessity to provide
and wheat crops.
Ten years ago the west went to the
east for funds. now there are large
amounts OF western money loaned IN
the various money centers Of the I'm
tied States. 1t is permissible to pre-
dict that some day not far distant the
Mississippi valley will have the buying
power of this country. The magnificent
SOIL resulting in the greatest crops in
the world, and the enormous popula-
ton that this section can sustain, will
contribute to this effect
"One important matter taken up by
the convention that will interest every
manufacturer. shipper and banker in
the United States is the question of a
uniform bill of lading. 1t was pointed
out that the present bill regulating
freightage and shipping of crops and
other commodities was entirely made
quate and conflicting, ar the object
desired is to have a uniform bin Of
lading satisfactory to the commercial
s'ii" oS'iiNiiiS 'ieSi SS', anu eliSo W t1sh
congress to pass necessary laws by
way of an amendment to the rate bill
to make the bill of lading safe and
acceptable document"
Mr.. Edwards stated that eastern
bankers remarked the fact that Iowa
had grown to be one of the most pros
porous states in the Union, and that at
the present time it is estimated that
tIe Iowa banks have loaned at the
present time from $75,00O,OOO to $780,
100000 outside of the state, indicating
the splendid prosperity of the people
of Iowa. Iowa banks have on deposit
about $4O0O0O,OOO, and the Hawkeye
state has within it's borders more
banks than any other state in the
Union.