The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1910-06-30
THE COUNTRY BANKERS TELL
WHERE WESTERN MONEY IS
GOING.
HEAVY INVESTMENT IN LANDS
Thirty-Three Million Dollars Spent
in Parts Of Four States for These
Two Purposes-Higher Standard
Of Farmers.

st. Joseph, Mo-, June 29-Fffteen
million dollars spent for automobiles
and more than eighteen million dol
lars sent elsewhere for the purchase
Of land, tell what the west is doing
with some of its money, according
to information compiled by Graham
G.. Lacey, a banker of this city,
who has obtained replies to series
of questions addressed to more than
six rundref bankers in eastern Kan.
sas, eastern Nebraska, northwest
Missouri and southern Iowa.
Reports from 251 banks showed that
approximately eighteen million dol.
lars had gone out of their section
for the purchase of lands in other
states, ninety-seven banks reported
that some money had gone out of
their section for such purpose, 237
banks reported that a heavy amount
had gone out of their section for
such purpose. but they could not
give an actual estimate. Only twen-
ty-nine banks stated that no money
had gone out OF their neighborhood
for the purchase of lands in other
states.
For automobiles, 427 banks report
that a total of Is million dollars
has been spent while only seventeen
banks report that no money has
gone out of their section for this
purpose.
Out of o29 replies received 293.
or AZ per cent, stated that agri.
cultural conditions were good: the
demainder, or SO per cent. reported
such conditions as fair only. A good
wheat crop was reported by 20 per
cent of the replies, fair by SO per
cent. and bad by AZ per cent.
F1fty-one per cent reported that
the banks were carrying more real
estate loans for their customers at
this time than they We're CARRYING a
year ago, q per cent reported less
and % per cent about the same as
year ago.
Ihlrty-three per cent reported lar
ger deposits than year ago, SO per
cent smaller and II per cent abopt
the same. Eighty per cent reported
higher loans, u per cent lower. 8
per cent the same. Only 8 per cent
are buying commercial paper
10 the question. Are the people
living within their means or are thev
contracting debts for the purchase
OF luXuries?" the general concensus
or replies indicated that the farm.
ing communities are living well
within their means, although all
living was upon a considerably high
er plane than formerly and the
general standard of living was con-
siderably higher 1t also seemed TO
Oe the general opinion that where
automobiles had been purchased by
farmers it was largely by those who
could afford to buy them and to nav
cash for them.
one OF the features OF these re.
pies was the fact that the country
bankers have begun to put a curbing
hand upon land speculation and 9th
er extravaganza. In q number of
Instances the replies stated that
careful inquiry was made before
loans We're completed, as to wha.
purpose the money would be used
Tor. and in all cases where It was
for speculation in land in other sec.
tons or other speculative purposes
the loans We're denied. Underlying
conditions are declared to be sound
and this curbing of undue specula.
ton In land will have decided in.
fluence in bringing conditions again