Newspaper Page Text
3 --. -
VOL. I. NO. 44.
COLBY, THOMAS COUNTY, KANSAS, THURSDAY, JANUARY 7, 1SS6.
$1.50 PER YEAR.
X. 11. TOHPUN. W. F. SAOK'l.
E. A. Ilu.r. CiuOiicr.
Thomas County Bank.
To.MUUN & S.VGKU, IVopS.
T)-o- 11 jretii'i-.U li.uil..i!i:? l)iiinc-a. loans
uione, viit- iiisuiancc. m-Us rmtrrn ex-t-lmns?i-.
Collection-, nionijuly atu-sulMl to.
RAWLINS COUNTY BANK.
R. A. HENDRICKS.
Notiiitcs lo-.irs on ie:ii -Ut In Thtmas.
ltttwiin- anil I'lujfiiw coimtic.
fjtf'T.n-.j-ti'iui- ami quick returns.
"llSSENGFl Sc jaccar.
Law, Loan and Land
Ml kinil- of 1t1 l-i-i"'c tnin-actotl. TVed
v,l mill -ci-ool Ju.mW lor ul. Mono to li.a-i in
rti:!to suit the bonowcr. Cotri'sjo-Uc.it'
Offic- opiOUo t'o:ninicml Hotel.
COLUV. THOMAS nlNTV, KANSAS.
MASTKKS & ALLIXU.
Liver? and Feed Stable
Opjio-iU- Cisy Hotel.
7.. T. 1JE5T0N, -t
Hoiisc,Qirriagc and SignTaijiter
Co:.in. Kan vs.
J .S01IX A. WALK Hit.
ilivcrv & Feed Stable
j tlo.rl ;irs:ip.l nK-.it y of
r't.ild'mg and IVud.
Bunker liill Roller Mills i
ITi:a!.u & Fkaklv. Prop".
Capacity 200 Barrels por Day.
Onvut ilio mtr-t complete Killer mills
in Lie State.
Citv Meat Market !
T. 1J. FKKHAX.
J?icah ami cuiel i.ienls for sale :it all
. . OOI.HV.
II. 13. VANCE.
Shop Hit door north of V vt o!mC". ( -.iert
iH blnclisaiifliiiiKiindrciirtiiiiU? done on slioi
noticc. rmrseshoeitip and plow work u spe
chdtv. Ail o.-!c srunrantee.l. (live niea call.
St rent or, Kan.
JAUD1XK & BEEP.
Ye have choice fanits.aiul
school lands for .sale in
Q'homas county." K:ms:is.
"NY. G. rOKTEll.
-Attorney at Law
tgyAll land business promptly and nceunite-
... inH .....1 . .i!k rnl inn irmtl dlltix!.
J UUllU auu .Ki-3..yiv.. ,..".-w
Piink PiNOKEf, Notary Public. Ciy, Ka
Iv. AY. Cox. Collector, Colby, Kansas.
PIXGKEE & COX,
Real Estate Insurance
Ve havo choice fimn and wild lands In Xe-f,
tMai-iL nlso school and deeJwl lands In Thoiu-f
un county. Kansas. Ltcatins: done In Thoinas-i
..nil .Skendnu counties promptly nnd - accu -
s. j. omiorn. iee 310NUOK
OSIJOKN & MOXROE,
Real Estate Ag ts
.I. E. WELD,
Attorney & Counselor
' AT LAW.
OPPOSITE TIIOM VS Cor.NTT HANK.
Wild and inijnoM.il lands bought anil
sold. Inuia!:eefrcmnv!lin the most l-eliable,
uompjiih. Tiixes ia:il lor non-i eirteiits.
Money to loan on chattel or real ctiitu security.
Collections mudu anil a Kcnenii law liiii!is
transacted m sill the State and Federal Courts.
Law, Loan and Land Office of
Willcoxon & Vandave.
Do n trcier.il "law tonsiiu . Deeded and
sclioyl laud for stile. Monoy to loan on chat
tel or 1e.1l estate socuiitj. ('one.siionilcnce
Oilice. Cor. rr..uklii' A v. and M St.
!Rea5 Estate Agents,
ItfTiiie cl.v.nis for cle. T.ocatinjr done
All kit.d? of land business .-.romjitly nttuiidt.il
Money To Lean on fJeal Estate.
J. P. SEE.
J. K. COLBY,
--Notary :-: Public
Allliusinrs in :hi hue pioiaptly attended.
Contractor & Builder,
.!.b soiieitul, estimates furnished for all
l.iudsof liuiidiu.s. I liao now iot my tliop
in riiiiiiin Older. Seiole s.nitif? and biaeket
woik :i spet'i.iity.
CSKCX W. GOODSOE.
Attorney and Counselor at Law.
Heal INtate l.onrht avd -o!d. Morci
loaiKd 011 chattel and ie.il otate security.
I Of vu 1: n 1:11 ALi.r A. -on.' sToitr.
W. R'. SPS1TH,
ALL KTXDS OF Y.'AGON WORK
Materia! Always on Hand. '
SMITH & BAB.ITEAU.
Ravv anil Shelf
In fact everything usually
kept in a
First-Class H anlwarc storc
0BEiLIN - " '; . KANSAS
millions in rr.
Lively Scene in tL
IilST Transactions In Cash and Securities
That 3IustCotiiB Out Etcn to a Penny
How One Bank Squares Its
Accounts With Another.
"I'll venture to sa'," remarkod it
bank ofitciiil, "that un average of a
score of people a week ask me how the
Clearing House is run. Lveu business
raen7'who would naturally he expected
to know all about it, make thc-e- in
quiricd. The public '-ocuiS to have a
vague idea thst the Cii-iring House is
a place where the hanks make
their daily settlements with each other,
but further than that tliere .seems to be
general ignorance,' This remark was
corroborated by Secretary Smith, of
the Clearing House, who observed that
not one person in a hundred, appar
ently, knows how the clearing opera
tion is conducted. Just before eleven
o'clock every day the clerks of every
bank in the ciU collect all the. checks
aud drafts drawn upon the other
banks, tie each bank's in a bundle and
place the whole in a satchel. This
satchel is del'n ered to a messenger,
who is also gien a large blank about
the size of a legal cap, upon which ate
printed the names of all the banks.
Oppos'.te these nanus are set down the
amounts of the checks and drafts be
longing to each bank. The messenger
is also given a small blank upon which
fs written the total of all the paper
pl'tccd in thetalx'hel.
Three or minutes before cloven
o'clock each business day thirty-eight
oung men gather in a room at HO
LaSalle .street. Nineteen of them have
the little satchels full of checks and
drafts. These are messengers, and as
they enter the room they deliver to the
Secretary the small blank which bears
the amount of all the paper in tho
satchels. This is the Chicago Clear
ing House, and eleven o'clock is the
clearing hour. The other nineteen
young men are the settling clerks each
bank, therefore, being represented by
two men. The nineteen settling clerks
take up their stations inside a
large .semi-circle de.sk, with
numbered windows. Each has
his own window, and the number
upon it corresponds to the number
given his bank on the large blanks.
The nineteen messengers take tip their
stations outside the desk, the clcik and
messenger of each bauk facing each
other. A few seconds before eleven
Secretary Smith taps a bell and the
thirty-eight young men stop their chat
ter and joking. At exactly clecn the
Secretary taps the bell again, and away
they go. it is not unlike a grand right
and loft in the quadrille, every measure
of the music meaning a million of
money. Stepping to the ne.t window
each messenger throws down upon the
counter u bundle of bank paper, taking
this bundle from the many other bun
dles which fill his arms. lie aNo hands
to the settling cierk behind the counter
the lars;e blank. The settling clerk
signs his name or initials bcs de the
amount a-ready written tliere opposite
tho name of his bank and returns the
blank to the moj-.senger. Stepping
quickly to the next window the mes
senger passes another bundle of paper
over to the clerk of another hank, gets
his reee'pt, and then goes to another,
arid another, and so on around the big
desk. The other eighteen messengers
have followed him. and in five minutes
all reappear at their own w.udows.
In these ti o minutes from seven million
dollars to ten million dolhus of checks
and drafts have .changed hands. Kach
bank lias delivered to the representa
tive of the other banks its accumula
tions of the'r paper, tak'ng that repre
sentative's receipt theretor. aud te-
ce veil its own paper in return. Beiore
each settling ckrk lie a big pile of
check?. The messenger gathers thcra
up and returns to the bank where he
and they belong. The settling clerks
do not count tho cheeks and drafts de
l'vered to them. They receipt at once,
taking it for granted that the amount
set down is correct. Lists of thes"
cheeks are kept, and in case of enor.s
or discrepancies eorroet-ons can be
made directly through the hanks.
Such errors, however, rarely occur.
The messenger and tho millions o!
dollars of checks and drafts are gone,
but they iiave left a record behind
them. Taking the .ligures from the
little blanks representing the amount
of each batik's contribution to the
clear'rg the Secretary adds th'em all
together and ascettains tho total
amount in hand. This 'sum .runs from
seven to en millions. Thdn the set
tling clerks havo their own x-eeords.
As they receipted for the paper deliv
ered to them by the messengers they
sot down the amounts. At the end of
the deliver;, they add r.p the figures
and repot t the total's to the Secretary,
who now has -before him the amonnt
each bank put into the pool and the
amount each has taken awav. The
two sums must exactly agree. If they
do iot thero is an error. While tire
j M'c-etary is making his computat'ons
.v-rKs invii an ooportun ly
to rpripo their figures. One yoxag
ttan discovers an error of ona cent at
11:19. Had he been a -moment later
la" his discovery he would hare been
lined two dollars, and the correet'on"
could not be rc.i.le in the Clearing
House, but would have to be made
diret t between the banks interested.
At ll:2y becretary Smith reads aloud
the balances, the ligures correspond
with tho-c arrived at by the clerks,
and the latter return to the banks by
which' they are employed.
Of course it is possible by working
out the balances in detail to tell how
much every bank owes every other
bank. But that is not the point, and
is unnecessary. Having ascertained
how -much each ban! Wrings to the
Clearing House, and how much it takes
away, the simple process f substrac
t;on shows how much is owiag to of
from it. In other wottfe Some of the
banks will owe the Clcarief Houto: the
Clearing House will ow the other
bank. The totals of there two col
umns must exactly agree. Here is
another proof of tho correctness of the
Suppoa'nsr that four men hold a
number of each other's notes, all due;
instead of passing the money from ono
to another they meet to settle with a
little trouble as possible, and conclude
to do it by forming a pool or dealing.
The following may represent their
transaction, tho first two columns
sho.vir.g the amount of the others'
notes caHi man put in and the amount
of his on n he drew out :
Putin. Dnirout. Cawlraw Jlf:sf pay
id caU. ui ash.
A....NWMU flUfi zia.'X,
a.... 910 40 rir zmzs
0... !tU17 5451. . . 9 0J
D.... 70O.BJ 4'JS.U 21..G
A and C owe the Clearing House, aud
the money they pay in is handed over
to 1 and D. Thus all the accounts are
settled, without computing or consid
ering the state of the account between
individuals. A hundred men, or a
thousand, could settle in the same man
ner. At half-past fwohe o'clock each day
the representatives of the nineteen
banks again appear at tins Clearing
House. This t'me they carry sttens
boxes, with handles, and secureh
locked. In some of these boes arc
money. The banks which owe the
Clearioe Hono are paying tip. The
bauki to u hi h the Clearing House is
indebWxl are there to get their cash.
The boxes are dumptd out, nj in a
few minute, the Secretary has hefote
him a million and a halt" of dol
lars, mostly in currency. A mill
ion aud a half is a good deAl ol
money. It tills the counter and a big
drawer and a half million or so is
chucked upon tho iiooruudcr the coun
ters' The currency is in five thousand
dollar and ten thousand dollar pick
acres, securely wrapivd, marked lnd
sealed with wax. ly th;s seal the iMiik
sending it guarantees the count of etch
package to be correct. The Jsucret-try
counts the packages or the bags of
coin. In toa minutes he has recei"ed
and receipted for the million aurt a
half. To count eacli bill and coin one
by one would take him a week.
Then he begins paying out The
million and a half or so has come in,
audmust go out. The men who came
with empty boxes now step up and the
precious bundles are shoved out to
them. There go two beardless ,boya
with thn e hundred and forty-seven
thousand dollars. Hero is a young
man walking out with a quarter of a
mill'on in his bo.v. Thcae two 3011 ng
sters get more than half a million,
some of it coin, and they make two
trips-. Finally the last creditor is
reached. His receipt calls for 690.
G'u.iil. Nine ten thousand dollar
bundles are piled up; the Secretary
opens his bitr drawer an i pulls out pis
hundred dollars in small packages; he.
then counts out lifty-even dollar in
small bills. Before him lie two s'lvcr
dimes and two nickels. The million
and a half pile is reduced to that. Jhit
the check calls for another cent.
"Where is it? Can it be possible that
an error has been made and somebody
has received a cent oerpay? "That
cent should be here,'' says Secretary
Smith; "it must be here never have I
come out a cent wrong "et, and ome
days I handle more thah two m.llions
of dollars. Ah. I thought so. Here it
is."' And from beneatli a piece of pa
per he pulls the truant peun' the lai-l
cent of the million and a half. The
clearing is finished. The accounts
between parties, embracing thousands
of item1? and amounting to seven mill
:ons' ," dollars, have been settled. Not
a. oer.jp 0 paper nor a cent of money
is left. There have been no errors. Everj
bank has its own. Chicago Herald.
""Horsey" toilets seem becoming
fashionable in Paris. The other day a
well-known actress appeared m a crim
son velvet bonnet representing a sad
dle, t;cd under her chin by strings
tipped with steel stirrups. With this
tho lady .wore a cherry-colored jockey's
jacket. 'fastened about the waist by a
horseshoe. Her shirt was embroidered
with horse shoes, while to complete
the costume her hair was dressed over
a silver bit so as to fall down her back
like a horse's tail.
Miss Julia Pease, a graduate 0:
Vassal- College, of whom some of her
spiteful classmates used t say, ,,bhe
don't know beans," is now cultivating
six thousand acres of land in Jtj.xas
and is doing well. She never used tt
thew gum, and nev - indulged in ;ne
-larks" gotten up ' v tho other girl,
but was basiKcss from the word- go:
And now r.;r- ' -:rl Independent
Texani .i ?. "U-ttuoe have
ocas." iht"!iiLx. itJr.?':aje. '
MILLER & MILLS. Proprietors. '
COLBY, - " KIA.3SrsJS-
Boarding and lodging by' the
ALSO AOiSTS rOR T11K
Fixtures of all kinds.
The best mill made.
k2e3 g? mg$g&&Bgt&gg&
Have opened-a yard in Colby and lcep cOKsfar.t
ly on hand a full and complete stock of"
uakp Jatlf f a&
Give us- a call and
prices are the lowest.
ENMS & NEIL'S CHEAP GASH STORE.
MONUMENT SIDING, St. John County, Kan,- -
Seven Miles Nearer than Cleveland
Down prices go. Save money by
patronizing us. f
Groceries, provisions, hardware, stoves, tinware, qucensware,
boots, shoes, hats, dry goocjs, blankets,- comforts, etc.
LUMBER, LIME AND FEED.
Best lump coal from S6.do.rto S6.50.
A car load of splendid Iowa potatoes. -rVe are sole agents
for-the celebrated Star windmill, tubu3axweir supplics'anQ
aeep wen pumps.
day of week Ar in their new
fe3 5 a
f).oorj, Juno, tet
be convinced that our
IITfltHTKHirWirW.i ! " ' "'"""TT