The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1917-05-24
KANSAS BANKERS
tcoptinued from Page one,


Successful floating of the Liberty
loan on June Is will mean more to
display our patriotism or lack OF pa
triotism to the Central Powers In
Europe than the rapid raising Of an
army. We can't know tangibly the
success of our army for months TO
come. The first tangible success, or
failure, of the war will be the result
reported at Washington on June Is of
our effort to raise the billions of dol
lars necessary to finance the war.
'If we fail, do you think, that will
create any peace talk in the trenches
of the Central Powers? Won't they
look upon that failure as indicative
of a slow pulse beat of patriotism in
America? But, if we over-subscribe
that loan, as 1 hope and pray we may.
won't that indicate as nothing else
can, our patriotism and willingness to
go the limit for our country"
Goebel pleaded that every banker
in Kansas subscribe for Liberty loan
bonds and endeavor to sell those bonds
to depositors.
Waters on Program.
Henry j. Waters, president of the
Kansas State Agricultural college at
Manhattan. talked on KANSAS Re
sponsibility in the War" He pleaded
for conservation of the soil, for cur
failing of extravaganza, for acqurlng
the habit of caring for ourselves by
canning our own food and not de-
pending upon industries already over
crowded in caring for our allies.
Charles F.. Lobdell of Great Bend,
Kan, member of the federal farm
lean board, in an address on The
Bankers Interest in the Federal Land
Bank System" told of new method
of conservation that might be prac-
ticed by Kansas in doing her bit"
to bring the war to a successful con-
clusion.
1T has been frequently stated"
said Mr.. Lobdell. that Kansas is so
well served by existing agencies as to
have little need of the federal system.
1 am aware that this section of Kan
sas is especially favored in the matter
of rates and terms on farm mortgages,
and a very marked Improvement in
both respects is noticeable since the
enactment of the federal farm loan
act.
Yet, by the latest available statfs-
tics, Kansas farms are shown to be
mortgaged for, in round numbers, one
hundred and eighty million dollars,
with an average interest rate, includ-
ing commissions of six and nine-tenths
per annum. This means, that if those
loans were all transferred TO the fed
eral system, saving of interest each
year in the sum of three million, four
hundred thousand dollars would re-
suit.
That is a sum quite worthy of note,
as an addition to bank deposits. But
it is infinitely more worth while, if
saved from interest and applied to bet
ter farm homes and greater agricul-
tural production"
George A. Neeley of Hutchinson,
who was to have addressed the bank
ers' convention this afternoon, was I'M
able to attend, and the association
opened without him. The boys of the
High School Glee club gave a patriotic
demonstration before the members.
Charter Board Action.
More liberality of the state charter
board in granting bank charters and
an investigation of the bankers as
ISOLATION into charges made that banks
in certain localities are attempting to
prevent the chartering of other banks
by jumping in and obtaining an extra
charter which is not used until a new
bank wishes to establish itself in the
community, were urged today by Sem
ator Charles E. Snyder of Leaven-
worth, chairman of the committee on
banks and banking of the senate, who
spoke on Recent Banking Legisla-
ton" this afternoon.
An expose of this alleged state of
affairs WAS made by the Leavenworth
banker following a recitation of the
bill at the recent session of the legis-
lature.
1.-The cooperative banking bills
were apparently fathered by the
Farmers union or kindred farmer or
ganization,' said Senator Snyder.
tions to obtain charters for new banks
in several of the small towns in the
state seemed to be the cause for these
cooperative bank bills. 1t was claimed
by some who urged these measures
that banks in certain localities were
attempting to prevent the chartering
of new banks, and that parties who
now owned banks without competition
in several of our small towns would
apply for second charters in their re-
spective towns and hold them in
allegiance, bringing them out only
when the farmers applied for a new
bank charter of their own.z
Il think this is matter which
should be looked into to some extent
by this convention, for if it be true, it
will cause conditions which in time
will be harmful ana react on the bank
ing business in many of our smaller
towns. While we all want to keep the
number of banks within reason, still
it is not the general intention of our
banking laws to stifle legitimate COM
petition. And if it is, public senti-
ment will very quickly cause the pass
age of laws which will be liable to
open up the subject much wider than
Perhaps we might also ask the state
charter board to become just a little
more liberal in its policy of granting
bank charters"
Senator Snyder also asked for the
consensus of opinion of the convention
as to whether the maximum rate OF
interest should be reduced from 10 per
cent to s per cent.
Politics Planned
L. H. Wulfekuhler of Leavenworth,
president of the Kansas Bankers as
sociation, exploded several bombs this
morning amopg members of his fra
ternity in his annual address deliver
ed at Memorial hall at the opening OF
the thirtieth annual convention of the
Kansas Bankers association. The con-
vention opened at 10 o'clock this
morning with a big attendance. Fully
half sof the total membership of 1,2OC
had registered on the first floor OF
Memorial hall by noon today.
Wulfekuhler described the forced
employment of legislative committees
as shameful and placed part of tho