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ALL KANSAS MONEY Big Deal Made With Eastern Company FOR OKLAHOMA DEBTS Half a Million Dollars to be Cashed in Wichita. Winne & Winne of this city, have entered into a contract with the receiver of the New England Loan & Trust company of Broadway, New York, in which the Wichita firm agree to cash nearly $400,000 worth of Oklahoma mortgages, mostly on farms. The trust company was compelled to suspend several years ago on account of some speculations in the east and the business of the company went into the hands of a receiver. The receiver was recently ordered to sell the securities and wind up the business He tried the big financial centers, New York and Boston, and failed to raise the necessary cash. The proposition was then made to Winne & Winne of this city to sell them the bonds and the trade was closed. The Wichita firm only asking time to examine the Oklahoma records to see that the mortgages were regular, and their expert is now making the investigation. What is worthy of mention in this matter is the fact that this company was compelled to come west to get this large amount of money. Mr. Winne said last evening that not a dollar of the money that would go into these bonds belonged to the eastern states. It is all western money. A good many of these Oklahoma bonds will soon become due. If the men want to pay Winne & Winne will accept the money, but if they want to renew the loans, they will be accommodated because the firim has unlimited confidence in Oklahoma. This action of the Wichita company in securing these mortgages is only another evidence that capital is increasing and constantly accumulating in the west. When the western country was new the people had to depend very largely on eastern capital with which to develop its resources, but now the west has its own capital. Every time it raises a big wheat crop it gets more capital, because it sells more than it buys. This is a case where the accumulation of money means the balance of trade in favor of the west. Even the banks of Wichita are getting more money than there is a local demand for and they are sending money to New York to be loaned on call. If this accumulation is kept up outside investments will be sought. There are people here claiming that this money will be invested in rea lestate, but that does not take it away, unless the land belongs to a nonresident and when a non-resident buys farms of city property, he increases the supply of money unless the Sedgwick county man who sells takes his money and leaves the country, which is not often the case. Wichita is coming to be recognized as a money center and by this time next year it will have a good deal more money than it now has. The look of BEAU 4h.
