Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1910-08-24
NEBRASKA BANKERS SAY FARM.
E1S ARE NOT GIVING NOTES
FOR AUTOMOBILES.
RANK HIGH IN THRiFTj
ABLE TO PAY CASH
Reports From Fifty-Four Counties Of
the State Indicate That Farmers Can
Well Afford to Own Autos Little
Paper Given in Payment For Thorn
-Denies Patterns Statement.

Chicago, Aug. 24.-Officials Of repro
sentative banks located in the county
seats Of ffty-four counties of Ne
braska deny that the credit Of farm
ers in that state has been impaired by
the purchase of automobiles, and in ali
except one instance declare that 1t has
not been necessary for the farmers to
give mortgage to purchase one of the
modern flyers.
The denials are in answer to series
of six questions addressed to these
bankers in letters sent out by George
w. Mason, Chicago manager of the
Omaha Bee, and the Twentieth Century
Farmer.
Recently Mr. Mason secured from
Kansas City bankers a denial of the
statement accredited to James Patten
the wheat king" that farmers of the
west were jeapardizing the prosperity
of the country by giving mortgages to
buy automobiles, and that he knew OF
Instances where such mortgages were
held by Kansas City banks.
The farmers of Nebraska are per-
fcctl, able 10 buy automobiles without
mortgaging their farms, the agriculture
al sections of the state We're never more
prosperous than they are today is one
of the typical answers to the ques-
tons
Average Deposits 81 Per Cent.
Information furnished in the letters
shows that the average percentage Of
~, 6, in, be from
winch the figures were secule'
amounts to 6. per cent, ranging from
an estimate of 33 to 40 per cent f;on
the First National Bank of Omaha 10
clear score by the Banner County
l3ark of Harrisburg Neb., the depos-
itors OF which are all farmers. Many
of the banks had to average of 20 per
cert.
The questions follow:
Does Your bank hold any mortgages
Oh automobiles purchased by farmers
or mortgages on farms to secure the
purchase of automobiles?
What can you tell me about farmers
buying automobiles?
What percentage of your deposits
ere made by the farmers?
Wat. in Your opinion. is the credit
standing of the farmers in your COM
munity?
Is the purchase of automobiles o7
farmers inpairing their credit?
Are not the farmers able 70 buy
automobiles and pay cash for them!
The answers TO the first question
were mo" In all except one instance
and this was of a banker who believes
that a chattel mortgage OF 5000 had
beer recorded In his county for a run
about"
Many Farmers Buying Autos.
Tc the second question the bankers
replied that many farmers in their see
tons are buying automobiles.
The bankers stated that the credit or
the farmers is more than good and in
answer TO the fifth question declared
hat there is no foundation for saying
that the credit of the farmers is being
impaired by the purchase of automo-
tiles
To the last question the answer was
emphatic that the farmers generally
are able to pay cash for their pleasure
machines.
President L. ]. Titus of the First Ma
t'ona: Bank of Holdredge replied that
he had seen considerable criticism IN
the eastern papers lately in regard TO
he purchasing Of automobiles by wes'-
e,n farmers The east has no KICK
coming" he wrote. because all of the
!, tney used in buying automobiles gees
cast