THE COURIER
,
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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.
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Miller & Paine
Dress Goods,
"Us,
Cloaks and Suits,
Linens,
Underwear and Hosiery,
Cotton Goods,
Rugs and Draperies,
Millinery,
Notions and Trimmings,
Etc., Etc.
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4 W -
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0 and 13th Sts. Lincoln, Neb
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