El Paso herald. (El Paso, Tex.) 1901-1931, 1915-03-08
5000 moo CATTLE
BANK URGED
President Nations, Of Pan
handle Association, Fa-
vors Big Bank Here.

a cattle loan bank with a capital
stock OF $500. coo is what FL Paso needs
right now to insure its place as a per
manent livestock center along with
Fort Worth. Kansas City and Chicago"
. declared Joseph II. Nations. president
Of the Panhandle and Southwestern
Stockmeu's association before he left
( for san Antonio TO attend the Texas
Cattle Eaisers' association meeting
Our banks here are splendid institu-
lions. all of them. and they are handling
the commercial business of the city in
excellent shape But what IS needed
the worst way is a great cattle loan
bank which has for its purpose only
the loaning OF money on cattle and cat
tie ranch lands. II should have no con-
nectiOn with any other bank and should
do no general banking business. Two
men have come here recently to discuss
with me the possibilities Of floating
such an institution and I consider the
Il esent time the most favorable
by reason Of their restrictions the
M tiOnal banks are not permitted TO
make heavy loans on real estate and
the changing scheme Of the cattle bust
ness had made it necessary for the cat
tiemen TO invest large parts OF their
earnings in cattle ranch land This and
cattle are all they have to offer as Sc
curity and while the ranch lands are
especially desirable as security, the
hanks are restricted in their lOaning
powers
Loan on Herds and Lands.
This would be where the cattle loan
hank could perform its great service.
Ii C0ulC loan on cattle herds and cattle
ranches and finance the growers from
one year to another. Subscriptions
could be obtained both locally and in
the east for such an institution The
local banks, no doubt. would be willing
and glad 10 take stock in such an lnsti-
tuition for it would have no connection
with any other local institution and. by
bringing the big cattle growers here,
would encourage men with means 10
coEse here and their accounts would be
available for the commercial banks.
Fort Worth does not finance her great
cattle business. Neither does Kansas
City. Not alone. Both 20 10 the east
for their money and why cannot FL
PasO do the same thing. The paper
could be sent east for discounting with
the cattle loan banks endorsement on il
and this would form one Of the gilt edge
paper since the cattle business is one
OF the most stable in the country and
the cattlemen a high type Of citizen
Demand Is Here
Local bankers have told me that
they have had no great demand for cat
tie loan money and have doubted the wis
dom of such an Institution The reason
for this is that the cattlemen, by eX-
perience, have learned tnaI the money ]
they desire is not TO be had in FL PasO
from the banks in the amounts and on {
the securities they have TO offer. For
this reason they have gone elsewhere
TOT LnelE loans Let Lne GaLLAeTuEn start .
coming here TO get their money with /
which they carry on their business and Z
they viii come here TO do their trading
and to live and their deposits Will swell ]
the regular accounts OF the local banks. !
100000 Institution.
a 100000 Institution sounds like a 4
big one but il would take such a sized 4
cattle loan bank TO meet the needs. I
II could be started with 500. 900 and in i
creased as the demand for cattle money 4
grew, as il will surely do. Outsiders j
stand ready 10 invest in the stock OF \
such an institution and I know. for a 1
fact that financial experts have been /
here looking over the field with just j
such an end in view
A bank Of the character 7 have in /
mind should carry no general deposits,
should not undertake TO finance valley 1
lands or commercial affairs but should /
cOnfine itself 10 the cattle business /
strictly When IT became known to l
the cattlemen OF the southwest that 1
there was such an Institution right here Z
in the the very heart Of the cattle cOun-
they would no longer look to the east
for their cattle money but would come /
to FL Paso, keeping the money and the I
business here at home"
Would YOU consent to head such a
cattle loan bank Mr.. Nations was
asked. T.
IF it was the desire Of the organizers
and the cattlemen 7 would head il but
I would be an equally cheerful worker
In il with some other well known cat
-leman at its head"