The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1916-04-18
THE ToPEkA BANKs.

county money IN tnelF 0epOSltS as IL
was to discipline and humiIiate the
State Journal; to teach it once and
for all that its discussions of the city
and county finances, even with view
to the welfare of Shawnee and To-
peka, must be taken with caution if
it affects the revenues of these bank
Ing Institutions
This is the reason why we cannot
let this forming combination pass I'M
noticed. Nine banks solidly united in
purpose. have a tremendous power.
Let the reader think over it for a mo-
ment! There is one force that can
combat this wealth: the force of right.
Thrice armed is he who hath his
quarrel just The State Journal is
right. That is the reason there is no
fear around this office on this ques-
ton.
The banks of this city may just as
we'll have the friendship and support
of this paper as to have its opposition.
They can have this friendship, what
ever it may be worth. on one simple
condition: right conduct.
In this fight thrust upon US by these
financial institutions, we have got to
take the reader more or less into con-
fidence. On Saturday afternoon last
the editor of this paper went to one
of the financial institutions of this city
and said:
IT notice money is said to be plenti-
full in Topeka; that you financiers say
that it is hard to place money. and
that interest rates are going down. In
willing to reduce the rate of interest
on the loan you are carrying for me
from per cent to per cent? I can
not afford to pay per cent. The
loan is gilt-edged."
81 am very sorry was the reply.
but our rules forbid it; we can not
make that rate below -
"All right" said the editor of the
State Journal. ST told you 1 could
not afford to pay per cent, and can
not. 1 will accordingly pay off the
loan. Wait minute and 1 will give
you a check in full. The last interest
was paid on April 5. How much is
due to date?"
1.-THE interest would be $685." was
the reply, and the man went out of
with the request that he release the
mortgage, which was done yesterday.
The reason that this paper is driven
by the banks to make a fight in this
matter is because these banks are
now imperilling the most valuable part
of the State Journal plant and prop
erty; it's reputation, its good will, its
standing in this community.
If by any chance the steel, rein
forced concrete white terra Gotta, fire
proof structure which houses this
daily newspaper, should be wiped out
absolutely tonight, the most valuable
part of the State Journal would hardly
pear and be delivered to it's subscribers
tomorrow evening and go into the
mails.
The owner of this paper, whose
name appears at the head of these
columns, is steckholder in two of
the banks of the city, holding $500
in stock in the Central National Bank.
This stock was wished on him in a
measure, and partly results from an
OAu 6lIOII ~ stuart d new Ddnk III IuiS
city to be called the Capitol National
Bank, and which was started, and
whose charter stockholders wanted
some assistance from the State Jour-
nal to this end. This bank was after
wards consolidated with the Central
National Bank. The present stock is
paying a good dividend and we are
proud of the great financial institu-
ton, of it's strength, and it's deposits
and its high standing. The investment
is a good one.
The same is true of the Merchants
National bank, in which the editor of
this paper holds shares to the par
value of $4,000. These shares were
purchased many years ago when the
bank needed help, and when it was not
paying any dividends. For part of
this stock there was paid $50 on the
hundred. We don't know what it is
worth today; maybe $3.50; we haven't
looked it up. 1t is a prime investment,
and there is no more solid or better
banking institution anywhere SO far
as our knowledge extends than the
Merchants National bank of Topeka.
and the same might be said of other
But we ask neither of these banks
to increase it's net revenue by depriv-
ing the city or the county or state of
one iota of interest to which the coun-
ty, the city and the state are entitled.
Let each be given a square deal by the
banks, and each paid the rate of in
terest on balances that it should COM
mand and that is paid under similar
conditions for the same sort of money.
Furthermore, if he thought for one
moment that the fact that he held
bank stock in these two banks would
adversely influence his conduct in the
matter which concerns the city's, the
county's or the states welfare, he
would sell the stock Immediately at
the market rate, or a sacrifice.
fNr ~ he