The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1917-04-14
GOBBLE UP LOAN
War Bonds To Be in Demand,
Charles Nj. Sawyer Asserts.
Former State Bank Commits
SiOner in Topeka Today.
BUSINESS OUTLOOK BRIGHT
Industries Are Now on a Safe,
Solid Foundation.
Many Kansans Will Invest in
the New War Loan.
BUSINESS OUTLOOK BRIGHT

President Wilson's war program
with its provision for billions of dol
lars in loans to the allies will not dis
turb conditions in this country in the
least That was the opinion expressed
in Topeka today Iy Charles M Sawyer
federal reserve agent at the head of
the Regional Reserve bank in Kansas
City. and former state bank commits
sioner for Kansas. According to Saw
Yer. the war loans will be swallowed
up without a shock to general business
or banking conditions.
Sawyer sees little in the present
situation to occasion financial or bust
ness alarm. The usual cloud which
hangs over business c, nditions during
a war period is not in evidence at this
time. according 10 the widely known
banker He believes the proposed
seven billion dollar bond issue by the
federal government will be disposed 81
readily. Not only that, but he believes
many Kansans will invest in the bonds.
Conditions Arc Ideal.
Conditions thruout the country are
ideal for meeting the situation now
facing the nation, Sawyer told friends
in the state house today. He declar-
ed that bank conditions turnout the
Kansas City reserve distrlct-kansas'
Colorado, oklahoma. Wyoming, Ne
braska and portion of Missouri
were never more sound and substan-
tial. These banks, he said, Will do
their share in meeting the demand or
the nation for resources. Banks thru
out the entire district, Sawyer declar-
ed, would subscribe heavily for the
war bonds.
There will no. be the least shock
to business or banking conditions
when this loan is subscribed" declar-
ed Sawyer. In fact it will be alb
so sill a nd Nv a nd =
ly that people outside immediate
banking and financial affairs will
scarcely notice it There will be an
Immediate demand for these bonds i'll
spite of the tremendous total which
is represented. 1t is quite probable
the bonds will carry a three and a
half per cent interest rate, will be
worcestershire and will be regarded
as excellent Investments. 1 do not
doubt in the least that many Kansas
investors will subscribe for these
bonds and there is no question that
many banks in this state will buy
them.
Promote Industries.
"One thing that has been overlook
ed in the agitation about this big
loan is the fact that the loan will
promote rather than hinder the
industrial affairs of the nation. 1t
should be remembered that these bill
lions of dollars are to be spent all over
again right here in this country. That
means new business and in the regu-
lar channel, the money will find its
way right back to the starting point.
So, viewed from a purely business
standpoint, think the big loan will be
a great benefit to business, rather
than OCCASION for depression or suspen-
sion of activities"
Sawyer is spending the weekend in
Topeka. He is a brother-in-law of E.
Z. Ames and is widely known in To-
peka business, political and social
circles He came to Topeka in
1913 as bank commissioner dur
ing the Hodges administration He
resigned in 1914 when he was placed
at the head of the regional reserve
Bank in Kansas City at a salary of
$4,000 a year. Before coming to
Topeka, Sawyer was engaged in the
banking business in Norton.