The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1911-11-29
e. t.. Copeland Returns From
National Bankers Meeting.
Santa Fe Treasurer Says a Re-
serve Is Badly Needed.
IMPROVING IN SOUTH
Modern Architecture Replaces
Old Style Buildings.
Other Items of General Interest
in Railway Circles.

The attendance of bankers at the
New orleans meeting was possibly the
largest in number that has been held
Tor several years, the interest center1ng
around the Aldrich plan of establishing
a National Reserve association, said
E. L. Copeland, secretary of
! the Santa Fe, who has returned from
the national meeting OF bankers at
New Orleans. TT is my understand
ing that the state of Kansas had the
largest number of bankers in attend
ance of any state in the middle west,
which clearly shows that it Is vitality
interested in settling the currency ques-
ton in a proper manner.
Il was very much amused at a story
told by one of the speakers to illus
trate that the reserve now held by the
various banks as protection in time
of emergency could not be used under
our present law no matter how serious
the condition might be which required
the use of reserve funds. This party
stated that a hospital located in city
had emergency equipment A fire oc-
CURED in a factory in which large
number of persons was injured. They
carried the injured people to this hos
pital until every room was full. The
attendant then went to the manager
and said: What are we going to do
with the rest of the people, the hospl-
tai is full; shall we open up the en-
Urgency department? and the manager
replied: No; no; we cannot do that;
we must keep that for an emergency.
Under the law, all banks are per-
mitted to capitalize their surplus, and
they must also carry a certain per
cent of their deposits as reserve fund.
If this reserve cannot be used under
any circumstances, it is also practically
capitalized and is not available in time
Of need. but is an additional protection
to the depOsitOrS. These features pre-
vent any elasticity in our banking
system, and, for that reason a National
Reserve association is badly needed to
care of emergencies and continue to
permit them to return their reserve
and adopt all other measures of pro
lection for the depositors.
"On my return trip stopped at
Galveston and saw them working on
the great causeway, which will con-
meet the main land ard the island on
which the city of Galveston is located.
The interurban line has its tracks all
laid and will commence running cars
from Galveston to Houston this week
The balance of the causeway, however,
will not be completed until about
March when the various railroads will
use it. They are now using the one
bridge connecting the main land and /
the city, which is owned by the Santa |
Fe.
II was very much surprised to note
the Improvement at Galveston in the
past few years, including the sea wall
and the magnificent hotel called the
Galvez, which is named after the man
who discovered the lSlanu. GdlV eSIOH'
with its improvements, will now com
pete with California as a winter re-
sort.
IN taking a ride through the bay |
over to Point Bolivar, we passed several !
large ocean liners loaded with cotton |
for Liverpool and other foreign points |
is the second largest ship |
ping port in the United States, and has
exported a million and a half bales of I
cotton being over three times as many |
hales as shipped from New Orleans.
Texas produced a large crop of cot