The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1898-12-09
BANK FXAMINER PUGHT

REVIEWING THE PROGRIsSS OF THE
BANKS OF THE TERRITORY.
Mr.. President, aud Members Of the
Bankers Association;
To properly present a aaper upon the
progress of banking in Oklahoma Terri
tory compels one to enter this domain
under peculiar circumstances. Such pa
pers should date from the memorable
22nd day OF April, 1889, and be continuous.
Since you are apprised of the fact that
we had no banking law nutil up to two
yeass ago and necessarily statistics in
cident t. a paper Ir!cr to that date are
peculiar and particularly prole,aaucal.
In April 1890 this Territory hat three
National Banks with combined capital
Of 800 900; deposits sl6s, 700; loaned ,,nd dis
counts SS3,OOo. Dupring 1891 thei- loans
ased to 100000 with deposits E242. .OOO.
1892 found four National Banks in the Ter
ritory with a capital OF 1926. .OO0: loans and
discounts g1s5.OOO; ana deposits 1862, 900
1t was during these porperous times that
the Banking fraternity Of tho Territory
were compelled practically 10 change font
and assume the conditions bordering on
a vertiable black Friday" so to speak
Many were the banks that failed TIE
deposits in the national banks were re-
duced 70 s5s2, 600 while the number OF banks
were increased TO six with an increase
Of yll5OOO in capital ana an increase Of
slS3. 600 in loans.
In the year 1896 their deposits reached
the low ebb OF $4,000. which was E2ls.OO
lower than in the beginning OF 1893.
During the period from 1859 to 1896 there
were few very excellent state and pri-
vate banks doing business. some OF which
continue up 70 the present. And the fact
- their having demonstrated finan cial
o city to continue BUSINESS during the
ha times with which all were compelled
and did encounter speaks volumes for
them. Naturally this class OF banks were
averse to giving up their charters unaer
which they had 80 successfully conducted
their business and TO incorporate under
the laws Of 1897, at which time the Legls-
-HuBq q s4ooq 9lnlBls oql no pooBId oInlBl
| Ing law, creating what Is known as "a
banking department that has supervision
over all but national banks. and requir-
ing all to incorporate and make reports.
Since that time the progress made in
banking In Oklahoma has been marvellous.
I'm fact unequalled and unapproached by
that Of any state or territory ia the union.
In 1897 the deposits Of the National Banks
increased from N49O 900 to ss79. 900. Increase
Of y per cent during the same period
Of time.
On July %, 1897, the Banking Depart
ment received their first statement from
the State and private banks under the
new law. which disclosed the fact Of the
existence Of 4s banks in the Territory with
paid In capital Of ssl3OOO deposits 81
10000. loans and discounts s.l25. 900 u
and a cash reserve Of 20 per cent
| Ol lttNMntk o. b. VI AAt same year
these banks had deposites OF s2.4O5.OOO. a
gain OF 100000 or "a per cent. On Sep
tember %. 1895 which was the date OF the
last financial statement made oy the Ter
ritoFial banks. there were 81 banks with
capital paid Of 100000 deposits OF s.
$4,000. an increase since July 1897 Of 81
per cent
Their loans during the same period
were increased TO 10000 the average re-
serve on hand vas % per cent.
on the same date. our national banks
six in number had deposits Of Fsn,OJJ
loans 40. O.OOOss capital and surplus s247.6OO
with reserve Of 40 per cent.
During the past two years since tins
Territorial Banking Law has been enforc
ed we have had one bank failure. Dur
ing the past years two BANKS have con
solidated. nine state and two nationa
banks have been organized