The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1910-11-05
BANKING is GOOD
Einanciers Feel Optimistic
About Local Industries.
Prosperity Of Kansas Farmer
Has Kept Up Conditions.
ALL PROSPER ALIKE.
M oney Men, Merchants and
Others Have Profitable Year.
No Stringency Here In Spring
When Trouble Threatened.

Bankers, in talking of the financial
condition of local Industries. see q
prosperous future in store for the
country. When the lid was placed on
excessive loans in the East local firms
of good standing did not suffer and
business has remained normal at all
times.
Early in the spring extensive real
estate deals were made throughout
necessary to carry these deals. tight
ened the country's money bags and in
some localities small borrowers felt
the stringency. The Topeka banks at
all times took care of the local de-
demand and were drawing a neat rate
of interest on Kansas money which
was loaned to the industries in the
East.
It is the prosperity of the Kansas
farmer that has kept local conditions
above par. A profitable season in live
stock. a bumper corn crop and the
steady advance in the price of land
has increased the checking account of
the Kansas farmer; and the farmer,
the banker and business man have
pFospered alike.
THE increased volume of money al
ways decreases its buying capacity"
said J. r. Mulvane, president of the
Bank of Topeka, in talking of financial
conditions. "It Is for this reason that
J carry on the same amount of business.
Some people who do not understand
the conditions will make you believe
that this means hard times-but it
doesn't. I have in mind four Topeka
industries that will require $1,000, 600
more to run their business this year
than they did five years ago: yet they
are carrying on the same bulk of bus
mess they did before and are paying
good dividends.
Changes Automobile Ideas.
ST always have been a little skep-
teal about this automobile craze" re-
marked Mr.. Mulvane, until the 9TH
er day 1 talked with an influential
friend of mine who loans considerable
money. I deplored the idea of peo-
pie putting so much money in these
machines and he laughed at me.
Uncle John he said. don't you know
that all the automobiles in the state
of Kansas do not represent one-half
spend for alcohol and other booze
beverages 2
''Weil, I thought the matter over
and concluded that he was right and
that Kansas people are only getting
more for their money than they did
twenty years ago. And you know, I
think an automobile is great thing
for the farmer, too. Why, a farmer
fifteen or twenty miles out can come
to town with a load of produce in a
the amount Oh time A0 uSGQ TO-
It's a pleasure to come to town now
instead of a hardship, like 1t was when
I was young. If I was a farmer I
would certainly have an automobile.
I want you to say, too, that these ma
chimes are bought mainly, / think, by
the men who can afford to buy them.
In the list of more than $500 loans
made by us this year, do not think
there is a single instance where we
have loaned money for person to
oh
''But, getting back to the financial
affairs Of the country-things are
really much better than several
months ago; and of course much bet
ter than in the states history. This
is largely due to the wealth of the
Kansas farmer. We have sold our
farmer customers more than $1,000
900 worth of Kansas securities; and
there are in our banks more than
S250,000 worth of refundfng bonds
owned by the farmers. Parallel this
case with the conditions fifteen or
eighteen years ago and you will I'M
derstand why Kansas is prosperous.
Western Conditions Change.
ST remember quite well when some
years ago our bank would begin In
June to get together money to send
back East to pay the interest on
coupons held by the Chicago and New
York fellows. Now, we begin each
June to get together our coupons to
SEND DECK East COIASCI lAAC lA4LSA est
these fellows owe us. This year the
interest on these coupons in our bank
amounted to $4,000.
Most certainly with these condi-
lions in view, there is no question
that we are in good condition. Our
people have money, our customers are
taken care of and we have found no
cause to worry"
The conservative policies of the
large manufacturing industries the last
six months has had a tendency to BEN
eft financial conditions in the opinion
Of E. E. Ames, cashier Of the Central
National bank.
! Fundamental conditions are much
| improved" said Mr.. Ames, land the
fact that the situation looks better is
strong indication that the crop con-
ditions largely govern the money mar
ket The big real estate deals last
spring had a strong BEARING on the
condition of money and during the
summer loans were mighty tight.
There are still large demands for mon
ey, but I think that IN most instances
these are being we'll taken care of.
Industries are well stocked and there
is plenty of employment for labor.
These conditions naturally have a
great deal to do with the prosperity
of country or community"
Mr. Ames was of the opinion that
political situations were playing a
small part In the money world this
vaar. ana that more unrest was felt