CanÌƒon City record. [volume] (CanÌƒon City, Colo.) 1883-192?, 1907-10-31
new YORK FINANCIAL FURRY
OF NO SIGNIFICANCE HERE

like the extent that it did a generation
or even a decade ago. There is moth
ing on the financial horizon SO far as
| can ascertain to indicate a monetary
stringency. The country is unusually
prosperous and business as rule is
conducted on a safe. conservative
basis. j
S. Hudson. cashier of the First
;rnal Bank, thought the unsettled
(. cial condition in Wall street was
charGeable to over speculation. and
would have no perceptible bearing on
the business of the country, which, he
said. was upon too firm a foundation
to be shaken by the present disturb
ance in New York City. Western
bankers" continued Mr.. Hudson. ARE
not in the least alarmed by the present
trouble in Wall street, which they
regard as the natural result of a
speculation craze on the part OF a
few men who would jeopardize the
public good TO further their own sell
fish purposes.
The marvellous growth of wealth
in the middle west during the last few
years and the corresponding increase
in its banking capital has practically
made 1t indeper dent OF Wall street
in money matters and 1t is able to
handle the great cereal crops of the
country without asking the aid of
New York to accomplish 1t. The i'm
proved system of banking that has
been developed within recent years
is also safeguard against anything
resembling a money panic and 1t Is
a far more difficult thing to precipitate
trouble of that character now than
IL used to be. The country was never
SO prosperous As IL is today, particu-
iarly is this true of the West, and
there Is nothing to create anxiety that
1t is about TO terminate. The state OF
Kansas. for instance. has eight times
the amount of money on deposit in
its banks that II had in 1900. and SO
II Is in Nebraska. Oklahoma, Texas.
and the rest. Colorado is also in fine
financial condition and there is no
reason TO believe that we are about
to enter upon an era of financial strin-
gency. II We apprehended trouble at
this bank We could have quarter of
a million dollars here within twenty
four hours
Cashier Geo. F. Rockafellow said
In part: From the best Information
that ! am able TO obtain from the
newspapers and through private chan
nels from the leading bankers Of Col
orado am convinced that the present
commoiion among the stock brokers
of Wall street Is a consequence OF the
advent OF promoters aud Spectators
into the banking business and the per
sonai animosities between great spec
ulatiye interests. or to use a slang es-
preston. II is case of dog eat dog.
SO far as Colorado is concerned.
there probably never was a time in
the history OF the state when every
thing was so encouraging as 1t is at
the present time. The big sugar beet
crop, the great demand for cattle at
highly remuneratve prices, the great
prosperity OF the mining interests, the
unprecedented demand for coal at a
valuation undreamed of before. and
all agricultural crops bringing record
breaking prices the state Is indeed In
an enviabie position. AS matters re-
late to Canon City It may safely be
stated that the community 10 in re-
markably good shape. considering the
loss of the fruit crop. The deposits
in the Fremont County National Bank
are more than 100000 in excess OF
what they were twelve months ago.
and business OF all classes Is ex-
cellent
We have been anticipating dis
turbance in Wall street for year or