The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1910-11-05
Demand for Money Heavy.

DEMAND IOE money Heavy.
ION March the demand for money
was heavier than the banks could
handle" declared S. e. Hopkins, of
the Prudential Trust company. Large
real estate deals were made all over
the country and the demand for
money suddenly developed to such pro-
portions that 1t could not be handled.
The large insurance companies were
without funds and a result people
looked to their local banks for help.
When settlement day came there was
a shortage of money and the banks
have been gradually catching up.
could not say that general conditions
are greatly improved. One day we
receive reports to the effect that the
situation looks better and probably
a few days later it will not look so
good. A great deal of our money is
loaned to men who handle live stock.
Just at present this class of men are
borrowing heavily for feed lot cattle.
These are short time loans and when
made to good men, always earn
money.
Local business houses and indus
tries are in good shape, would say;
and there should be no reason why
they Will not pay good dividends this
winter"
William Macferran, president of the
State Savings bank, thinks the New
York investors caught up with the
Vests flood of currency some months
| d6O anu dOOuL d temporary
squeeze in the overdraft privileges.
New enterprises foated in New
York the past several years have
amounted to nearly 100 millions dol
lars a month" said Mr. Macferran.
Money was not limited and the time
had to come when the demand met
the supply. This condition came about
last spring. Gradually things have
/ been getting back where they ought to
be and at this time I would say con-
I Il
the distribution of taxes have brought
in ready money that was not here in
the summer time.
1.-THE fact that the banks for the
last ten months have been holding
down new loans is an Indication that
they have done It to prevent the usual
tight money market in the fall and
the possible panic. Further I think
that the bankers of the East and West
will pursue this policy in the future
and thus keep the situation we'll in
hand and normal as against the old
way of running UP against panic"
Politics Out of It.
Macferran does not believe that po-
| litfcal situations over the country
shaped the banking policies of the last
few months.
''I do not ascribe any trouble in the
summer to political reasons" he said,
"as the men who could bring about
such & situation could make more
money ana peter 1urpner their inter-
ests by not doing 1t. Take the local
conditions, for example," he said. "Al1
the business institutions with which
we have anything to do are, to my
! positive knowledge, making more
money than they did a year ago and
! are in excellent shape for winter"
| Mr.. Macferran is a strong believer
in the general prosperity Of the farm
! er and thinks that the herds of cat
| tie and hogs and bins of wheat and
corn are the banner advertisement of
i the state.
| A few days ago Macferran wrote F.
D. Coburn the following letter:
| Don't you think when bacon is
! thirty-four cents, that we ought to
: find some better name than Hog 2
! What would you suggest ?"
The following day q letter came
from Coburn with this suggestion:
| For Country Use.
| Gem of Purest Ray Serene.
| Mortgage Raiser.
! Home Saver.
| Auto Buyer.
Corn Condenser.
For City Use.
! Our Friend of Other Days.
Luxury's Limit.
Out of Sight.
| Killjoy.
! Myth.
| impossible.