The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1917-12-20
Commissioner Take Step
Meaning Much to Taxpayers.
Treasurer Campbell Acts on
Resolution Passed by Them.
FIVE BANKS PAY CITY 3 PCT.
Shawnee County Finally Gets a
Just Rate.
County and City Balances Now
on a Par.

Under a resolution adopted by the
hoard of county commissioners all
county money on daily deposits shall
be placed in banks paying per cent
interest. A copy of the resolution
has been placed in the hands of e.
A. Campbell. county treasurer. and
carrying out provisions of the reso-
luton has begun. Campbell announced
today.
Those are my instructions and
they will be carried out to the letter.
said Campbell. Under my interpre-
tation 1 am to deposit future moneys
in 3 per cent banks and whenever l
draw out money it shall be from
balances of banks not paying per
cent"
The resolution reads, in part;
"An funds and moneys coming into
the hands of the county treasurer OF
Shawnee county, Kansas, shall, and
the same are hereby ordered to be
deposited in such banks in Shawnee
county, Kansas, as are now paying 10
said county 5 per cent interest upon
daily balances. and in any and all
other banks in Shawnee county, Kan
sas. as will pay to said county 3 per
cent"
Only Three Banks Eligible.
Under this resolution only three
banks in the county are subject a
present to receive county moneys
They are: Citizens State bank, Kan
sas Reserve State bank and the Shaw
nee State bank.
The Kansas Reserve State bank has
been paving the county per cent on
deposits since its establishment No
vember /, 1915. according to Camp
bell The Citizens State bank has
been equally generous in paying per
cent in recent months and Campbeil
81. I,
State bank will pay per cent in the
future.
The other Topeka banks have only
been paying per cent and the county
banks 21z per cent" said Campbell.
BY demanding and receiving 8 per
cent interest the county commission
ers are increasing the county's reve-
nue. many thousands of dollars. it is
pointed out. With the county spend
ing more money than ever before in its
history on good roads and bridges the
need for the practice of economy be-
comes apparent.
City Started .gitatiOn.
II was about two years ago when
agitation was started over the practice
Of Topeka banks in paying more inter-
est on state deposits than on city and
county DEPOSITS. Under the recon-
merdation of w. H. Wasson, commits
sIOner of finance, the city commits
siouers passed a resolution providing
for the city to deposit a major proper
tion of its funds in banks paying per
cent. Now the county has followed
suit and county and city funds are
demanding equal consideration.
There are five Topeka banks paying
the city per cent interest. namely,
the Kansas Reserve State bank, the
Citizens state bank, the Shawnee State
hank, the Topeka State bank and the
Central National bank; the latter has
heen getting its city deposits thru
the Citizens, which has been nominal
ly carrying the heaviest city deposit
The Citizens has carried for some
months at a time as much as 100000
in city deposits. but the Central Ma
tonal took probably half of it from
the Citizens. paying the latter per
cent, which the Citizens turned over
to the city.
The per cent to the city and coun-
~ was made possible by the Kansas
Reserve State bank. whose establish
mcnt was brought about primarily to
secure fair deal to the city and
county and to secure the same rate for
them that the banks generally paid
the state namely