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About The courier. (Lincoln, Neb.) 1894-1903 | View Entire Issue (March 15, 1902)
THE COURIER , t E b h x much Money Bttbtring Bankers Now If the Lord will Just let It rain and do It at the right time und In the right amount the state will wallow In money this year. It might almost be said to be wal lowing at present, so the bankers say, even on the crop of last year, which all know was not exceptionally good. With a better one this time It will mean just that much more money to count on. As It Is the banks are near ly ns full as they conveniently can hold. Interest, too. Is comparatively low. Owing to the plethora there is no need of redlscountlng paper In the east. A banker "rediscounts" a note when he Is In need of money to take the place of what goes out In loans in his community. President S. H. Durnh&m of the First National Bank says It may be possible that a few banks over the state are redlscountlng nomc but he thinks they are very few. The last report of Secretary Royse of the state banking board showed an Im mense figure of deposits In the banks throughout the state. Indicating an excellent condltlcn of prosperity. The figures mean that the banks have little occasion to put their paper on the market. The fanners are not borrowing much money. Those who enjoyed good crops last fall not only have coin in the bank but they have In large part paid off the mortgages that have been hanging over their heads. Some are even investing In adjoining pieces and paying for them. On the strength of the last crop and hopes of the next one others have borrowed money to pay for addi tions. These are the few borrowers among the agricultural class. Most of the money loaned by banks is to the mercantile element. Plenty could be put out In the western part of the state on grain and stock and considerable is so placed, but many of the banks prefer to send this money to the east. Lending it there on good collateral it can be drawn In on call In case it Is needed In an emergency. These loans are called quick assets. If this money were passed out, for In stance, In the western part of the state it couldn ot be drawn In quickly. If at all. without distressing the bor rowers. Thus for a lower rate of in terest the money Is sent east. It is a sacrifice on the part of the banks to their patrons who may want big sums hurriedly. Many large houses, such as wholesale dealers, always borrow their big sums In the east. The rate Is easier. It will not work, of course, except where their credit is good. No matter wh.it the rate of Interest In the east It Is al ways lower than here. Hence In big loans It amounts to' considerable to the. borrower. All over the country money Is e.isy. Manufacturers are busy as never be fore In many years and this is the chief source of profit to the eastern money dealer. The banks have loads of cash and lending it rapidly. A good deal of It is for investment and much of it comes to Nebraska. Here It goes mainly into farm loans. Though some persons think last season was a fear fully bad one, folks down east believe otherwise. In the eastern part of Ne braska scores and scores of farms have changed hands in past two years and the activity Is still almost at a dlzzy pitch. In Iowa, land has always sold much higher than this side the Mis souri. Capitalists In the east think It will soar here, however, and on that idea they have invested much money in them. Insurance companies In par ticular have a strong liking for them. Some think they will even rise as high as land across the river. With a good wheat crop followed by a parallel in corn and the state will fairly welter in gold. Only let It rain In the fit amount in the fit season! That is the prayer! j j . .r f .c The sale of medicines of unknown composition (patent medicines) is pro hibited in Turkey. SfSSBIBBBB- LEONIDAS P. FUNKHOUSER. In recent years Lincoln has had the good fortune to add to her list of energetic business men a number of skilled and active workers, not only In the upbuilding of the city, but along strictly commercial lines. Of these men no one has so thoroughly entered into the life of the community as L. P. Funkhouser, who has been identified with Nebraska affairs since 1882, but who has been a resident of Lincoln for but a por tion of the time. Some Idea of how busy a man Mr. Funkhouser is may be gleaned from this list of official positions he holds In local corporations: Secretary and director of the Farmers & Merchants Insurance company, cashier and director of the Farmers & Merchants bank, vice president of the Lincoln Gas & Electric company, director of the Lincoln Overall & Shirt company and director of the Union Commercial club. He is a thirty-third degree Scottish Rite Mason, a member of the Nebraska Scientific society, district deputy for Nebraska Elks (the high est position in the order in the state), president of the Nebraska Society of Sons of the American Revolution and a charter member of the Oma ha club. He holds the degree of A. M. from Princeton and of M. D. from the Missouri Medical college of St. Louis. His coming has been a distinct gain to Lincoln business circles and he Is already one of its strongest members. The largest ships ever launched from an American shipyard are the Kora and Siberia, built at Newport News for the trans-Pacific trade. The roster of naval officers has lost during a year forty-four by resigna tion, forty-seven by retirement and forty-eight by death. 33?3Sffi3jflgsg xyp xyn rxypr tt 'xggggggg I 1 1 1 V or a iutrtavi -iafcT . -WB ?wVte ? Zip "V3 Miller & Paine Dress Goods, "Us, Cloaks and Suits, Linens, Underwear and Hosiery, Cotton Goods, Rugs and Draperies, Millinery, Notions and Trimmings, Etc., Etc. -L 1 .i r 4 W - I - 0 and 13th Sts. Lincoln, Neb f JJ& J9ii 13WI JBPfl 3f4 3L tJQ.si M Jk M W.M. M X JC!MU JW. JIL M iMk A 1