Click image to open full size in new tab
Article Text
STOPS PAYMENT Wichita Clearing House Association Takes Alarm. Leavenworth Bankers Agree to Limit Withdrawals. THERE IS NO ANXIETY HERE Topeka Bankers Say Action Is Uncalled For. Claim There Is No Panicky Element in Situation. Wichita, Aug. 3.-The Wichita Clearing House association met at 2 o'clock this morning and decided to stop specie payment of over $10 on checks, giving cashiers' certificates until the clearing house certificates can be print 1, sometime today. Leavenworth, Aug. 3.-At a meeting of local bankers today it was decided to limit withdrawals to $200 a week. No certificates will be issued. No Action Taken Here. Topeka bankers are unanimous in the assertion that there is no need for alarm over the financial situation, and one banker characterized the action taken at Wichita and Leavenworth as "ridiculous." It is prob: ble that a meeting of the local Clearing House association will be held to discuss the situation, but up to noon today there had been no demand for such a meeting, according to Frank Bonebrake, vice president and cashier of the Merchants National bank, and vice president of the Topeka Clearing House association. Mr. Bonebrake said today: "It is probable that a meeting of the association will be held to talk over affairs, but up to the present time there has been no call for such a meeting on the part of the bankers. As far as we are able to see at the present time, nobody here should be affected by the situation. War is so remote that there should be no fear. I can't see but this country will be greatly benefited by the war. Our wheat will be in demand." "There is no occasion at all for alarm," said J. R. Burrow, president of the Central National bank. "The banks are all in fine shape and will furnish all money that is absolutely necessary. It should make the people cautious, but there is absolutely no danger." "The action of the Leavenworth and Wichita clearing houses, in my judgment. was absolutely uncalled for," said Scott Hopkins. president of the Prudential Trust company. "The country was never in better shape to meet a condition than at the present time. There is full concert of action from the secretary of the treasury through the clearing houses and down through the smallest country banks. There is plenty of currency ready to be turned out at a moment's