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Newspaper
Topeka State Journal
Location
Topeka, Kansas, United States of America
Date
Apr 08, 1904
Page
2
A national meeting of the American Academy of Political and Social Science opened in Philadelphia. William Ridgely led discussion on government control of banking and industry, praising the national bank act and noting its long record of stability and supervision across decades.
The report analyzes bank failures from 1880s to 1904, noting 708% national banks organized, 44 insolvent, 1499 in liquidation, leaving 5380 operating. It details losses to creditors and depositors, liquidation costs, and causes such as excessive loans and mismanagement. It compares national and state bank failures and discusses the role of currency examinations and honesty of bank officers.
Purported advertisement proclaims Cuticura Soap cleanses crusts and scales, stops hair loss, nourishes roots, and promotes growth on a healthy scalp. It touts Cuticura Ointment for skin care and Reconcilin Resolvent Pills for blood cleansing, offering a complete remedy for various skin conditions for one dollar.
An analysis argues for stronger state regulation of trust companies expanding into national banking, noting liberal state laws attract nontraditional banks with trust privileges. It warns against weakening the national system and calls for careful oversight to protect depositors and the country. Federal control is viewed as impractical. emphasis remains on state regulation and prudent corporate management.
Ways and Means committee Thursday night recommended to the council that the city pay the $1,000 judgment secured by the water company in the hydrant rental dispute. Attorney Spencer advised against carrying the case to higher courts and suggested funding via a special levy at the next tax adjustment. The committee also directed the city clerk to monthly report petitioners from Washburn College and approved purchasing a new desk for the assistant city attorney.
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