The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1920-02-21
OFFICES IN new
BUILDING ON AVE.
Construction of Modern Fire
proof Structure, Plan.
Home of Corporation Also viii
House Other Big Offices.
BOOM BANK CLEARANCES HERE
Biggest Move in Kansas Finan-
ciaI Circles in Years.
Business of Large String of
Banks To Be Handled.
BOOM BANK CLEARANCES HERE

center will be greatly increased thru
incorporation today of the Kansas
Bank Holding Corporation. The new
corporations capital and surplus will
be 100000. 1t will invest in stocks
of a big string of small town and
county seat banks, directing thru To-
pela millions of dollars in bank clear
ings annually. Associated with the
new organization will be some of the
most prominent and widely known
bankers and business men in the state
Organization of the new million dol
lar holding company brings to Topeka
the home of a new giant corporation
which will prove of great value TO
small town banking interests OF the
state. Thru this company provisions
will be made for distribution of funds
in such manner as to meet local
conditions in the various communities
and to insure prompt absorption OF
heavy deposits in localities where
money demands are subnormal- In
terests of the corporation Will be eX-
tended to every section of the state.
Thru this plan seasonable demands
of various communities may be
readily met and general business ma
terially stabilized.
In it's charter application the cor
poration outlined general brokerage
and investment business a its prin-
ciple corporate purpose. Under TINS
provision it is asserted that plans Will
be worked out for cooperation with a
large string of state and national
banks in Kansas. Thru this organiza-
ton of interests 1t Is believed by in
corpora+ors that the Topeka company
will be able to extend to the weaker
banks aid and support which would
be impossible thru independent opera
ton In this manner the stability or
she banking interests of the state
would be strengthened thru central
lied organiza tion and operation in
manner similar to that perfected
under the federal reserve system.
Boost Bank Clcarings.
The fact that some of the strongest
bankers in the state are to be as
ISOLATED with the corporation Is eX-
pected to give the company unusual
standing and strength as soon as 1t
begins business. Plans of the COM
pany provide for the handling of the
general business of the individual
banks thru the principal offices in
Topeka The incorporation will pro-
badly boost local hank clearings more
than any single move in topeka II
uancial center in years. 1t is thru the
new Topeka company that surplus
funds of various banks will be di-
rected to communities wkere money
demands are heavy as a result of crop
gathering, stock movement or indus
trial activities Thus the inactive
funds of the banks associated with
the Topeka corporation will be in de-
mand at all times.
Erect Big Building.
Plans for construction and opera
. tion of a big. modern, fire proof office
building in Topeka may be one Of the
secondary purposes of the corporation.
1t was reported today that the new
company had already secured thru
incorporators and friends options on
several Kansas avenue building sites.
Recognition of the growing demands
for more adequate and desirable Of
flee space for local firms and cor
porations is said to inspire the desire
of the company to erect a large office
building which would also become the
home of the holding corporation.
The charter application of the new
company was filed today in the office
of L. J. Pettijohn. secretary of state
The personnel of the officers and
board is expected to contain a num-
ber of names familiar in business and
industrial centers in Kansas and espe-
cially among men in active touch with
financial affairs. Personal credits OF
parties directly interested in the incor-
pOration, ii is asserted, will represent
many tim6s the million dollar capital
ization of the company.
Men Behind It.
Names of only nine of the men di-
rectly connected with the organization
of the new million dollar bank holding
company were revealed today in the
CnaIIeT
J. H. Lee. president of the Kansas
Reserve Investment company of To-
peka. Lee is we'll known in banking
and political circles in the state. He
was formerly engaged in the livestock
and banking business in Harveyville,
Wabaunsee county, and was recently
elected president of the Kansas Day
club.
Earl Akers, cashier of the Kansas
Reserve State bank, and former state
treasurer.
7 Sen. j. H. Anspaugh, of Gridley, sec
retary of the Kansas State Bankers
association and one of the most sue
cessful country bankers in the state.
Sen F. G. Bergen, of Manhattan,
president of the Farmers & Stock
mems State bank of that town; vice
president of the Kansas State Bank
ers' associa ton; and formerly asso-
ciated with the Globe Savings bank of
Chicago.
Walter L. Payne. Burlingame, pres