Fergus County Democrat., 1916-10-05
JOHNSON TELLS
Of CONvENT|0
icAshlER OF FIRST NATIONAL RE.
COUNTS INTERESTING POINTS
AT BANKERS MEETING.
PLENTY Of MONEY IN FERGUS CO,

AS Montana member Of the execu-
tive council Of the American Bankers
association,, w. j. Johnson has just
returned from the annual convention
at Kansas City. He says that the
convention was the largest ever held
by the bankers of the United States,
and that the meeting was filled with
interesting addresses, and many i'm.
portant matters were considered.
OF chiefest interest to all bankers,
of course. was the development of
the twelve federal reserve banks of
the country. and their effect upon
the banking business in general There
can be little doubt that the reserve
banks will continue to occupy con-
stantly enlarging sphere in the busi-
ness OF the entire country, and the
actual working out of the principal
features OF the law will be of CON
stanuy greater value to every line OF
business throughout the several states
The bankers from the south are
finding serious objection to the fea-
ture Of the law which provides for
the elimination Of exchange charges
for checks. This is not especially in
iteresting to Montana people as there
itensive use of the privilege OF charg-
ing exchange on customers checks
which come through the mails. In the
south. however, this practice has been
VERY generally followed, and has been
la source Of considerable revenue to
southern banks. The southerners say
that II one of their customers goes to
the post office and asks Uncle Sam
~ frpp c. fAr ts, MI ,,.NJ,
Uncle Sam is glad to do 1t, but charges
100 cents for the service. Their GUS
toner. however. can write his check
for this 800 and send 1t out without
any cost to himself, without any in
convenience and without any loss OF
time. They assert that they should
be allowed charge of 10 cents for
the eventful transfer OF currency,
which must follow the transfer OF
money from one point of the country
to the other. and that it is not fair
for Uncle Sam to force them by law
to do something for nothing while
he In turn insists on charging very
profitable fee for the same service.
1t can be very readily seen that
| il every time man in Fergus county
wanted to send $40 to Sears Roebuck
4 Co., or merchant in Lewistown
wanted to send $500 to an eastern
wholesale house, he would be obliged
to 90 to the bank and get the cash
and ship 1t by express to the east,
the cost Of the transaction would be
considerable to him.
In Fergus county, with but few ex.
ceptions, banks have never charged
anything for getting the equivalent
back east for checks drawn on them
by their customers. and they are not
greatly interested one way or the
other in this matter.
The Kansas City stock yards are
receiving a tremendous number of
thin cattle from districts where poor
crops have forced their sale. Good
young heifers, OF the kind that are
selling so we'll in Montana, can be
picked up for around $35 per head
down there. Thirty-two thousand
head OF cattle arrived in Kansas City
ION Monday of last week, and it was
three days before they we're all sold.
Business In Fergus county seems
to be moving in very large volume
said Mr.. johnson. 1.-The deposits OF
, this bank are well over $2,0OO,OOO, a
!, figure never before reached, and is
an indication that there is more
money in the county than there has
ever been before"