The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1916-04-21
"rHE BANKERS STORY
tcontinned from PAGE onel

had been buffeting with the few ups and
the many downs of the State Journal
property which he had bought at auc-
ton, things looked disastrous. Debts
were increasing every day. The good
will which had been purchased, turned
out to be mostly bad will. Money had
been borrowed about up to the limit.
The paper still lost money.
A measley little energetic red head
ed bill collector had been around the
State Journal office to see the pro-
prietor several different times in as
many days. The amount this collector
wanted, maybe for grocery account,
certainly not for any luxury, and
surely for some necessity, was $3.74.
The persistent young man of the bill
was stood off with one excuse and
another until one late afternoon. after
the banks had closed, the State Jour
nal gave him check on the Bank of
Topeka for s3.74. OF course, there
was no money in the bank; it had all
been checked out, but the proprietor
was sure he could make a deposit of
at least $500 as soon as the bank
opened the next morning. and as he
ostentatiousiy handed out the check
and took the receipted bill. asked the
y
ergy thereafter on somebody else, and
not come Fostering newspaper men
who had more important things on
hand than to be bothered every day
with little bills
The morning came and what mO-icy
was received by the mail. or over the
counter, had to be Immediately paid
out to employees and others who
seemed to exert at that time undue
pressure, indicating a wild-eyed fear
that they might not be paid for their
valuable services. The bank opened
and shortly thereafter, this same old
bill collector came back, madden than
ever. He returned the original check,
which had written across its face mo
Eunds," The crisis had come!
The debt burdened newspaper man
went down to Mr.. Mulvane's bank
about as mad az the irate bill collec-
tor. He asked for blank drart;
filled it out for $500 payable at sight
drawing it on Major c. Hood, En-
poria. Kansas, and asked the teller to
please place that to his credit and
not throw out any more checks.
In the matter of the small check,
Mr.. MacLennan was wrong and he
knew it. Mr.. Mulvane taught him a
lesson that he never forgot and to the
best of his recollection the State Jour-
nal has never since that day to this
been Sin the red" at the Bank of To-
peka, where he has always and con-
tinuously carried his principal work
ing account.
Major Hood honored the draft and
when in Topeka a few days later,
made this remark: Frank; if you
make any more of those $500 drafts
on me, please send me word in adj
vance," That is one reason why the
memory of Major Hood, who helped
many young men under like circum-
stances, has i warm spot in the hearts
of many Kansans.
Thereupon the proprietor of the
State Journal, who is the present one,
made every possible effort in his
power to sell the paper and get out
and from under; but he was unable
to do so. But things were looking
better. In short time the paper
played even and in little while later
began to make some money. 1t has
always made some money, moro or
less. every year since.
Major Hood had in his mind that
essential to obtain credit: implicit
confidence in the integrity and ability
of the borrower. John r. Mulvane
an acquaintance of but a year, lacked
that confidence. Hence, one cashed a
draft for $500 and the other threw
out a check for $3.74. There was just
as much real money in the hands OF
| one banker as there was in the other
/ Confidence alone turned the trick.
Two or three years ago the owner
| of the State Journal needed some
, money, and he needed it badly, to pay
the contractor who was putting up the
, present new building. He had some
. property which he had been years il
! accommodating by savings in the State
. Journal and returns from good invest
, ments of little SURPRISES. and had ex
pected to sell the property and put the
money into this building, but the sal,
!, was unexpectedly delayed, and pay
ments were soon coming due. HI
went to John R. Mulvane and said t.
him:
81 thought had saved up enough
= money in thirty years to build ant
e finish my new building, but 1 hav
t been unable to make turn in SOM
e real estate, which 1 have owned, ant
S need some money soon to pay the con
tractor, and 1 do not want to put an,
mortgage on the newspaper"
mo need of it; no need of it at all,
said President Mulvane, chow mucl
= do you want?''
well. will need $4,000 next Sat
:, urday; $1,000 more in about tw,
a weeks; and $4,000 in about thirt.
:, days"
"All right. you can have it. Jus
make out your note and 1 will put tn
first $4,000 to your credit now
In using that $4,000 there was n