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ADD ANOTHER BLUNDER When Seattle banks refused to pay small drafts on funds in their possession to the credit of Alaska banks they added another blunder to the array of commercial malfeasances which cause the city to stand indicted before all Alaska of an attitude of graft toward the territory which lifted it from bankruptcy ten years ago. The issuance of clearinghouse certificates and refusal to pay out large sums in cash to depositors in Seattle as in all other cities was absolutely necessary to prevent a repetition of '93. Had not runs by stampeded depositors been checked that way half the banks in the country might have been compelled to close and bankruptcy would have run riot. The system worked individual hardship but it was necessary to stop the panic. But the small handful of Alaska drafts which were refused were on a different basis. They were held by men who paid cash for them in Alaska after the panic started. Had the purchasers supposed that payment of the drafts would be refused they would have carried the cash with them. One Seward man who was on his way east to make a visit was held up on a $600 draft and paid $25 a week to spend in Seattle. A Seward business man lost a profitable real estate transaction because payment of a $1000 draft was refused. He might have sent the cash by express but supposed the Seattle bank would way the money it owed. This bank which held up Seward men was the Puget Sound National, which is henceforth blaeklisted in Seward. The original hold-up was by the financial highbinders of Wall street, who refused to pay money their banks owed to the west, but Seattle banks would not have missed the cash called for by straggling Alaska demands on current transactions.