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

possibly communicate TO you at this tim,
which would have an influence Tor goot
other IAN the mere fact Of the statements
alluded to, touching your own acts.
| 1 am proud OF my connection, humble
though 1t may be, with this class OF peo.
pie ia this Territory, and can assure you
that in so far as my personal efforts are
concerned, financially and privately ss
we'll that / VIII do all in my power ia
elevate and extend and to perpetuate the
conditions which at this time presents to
the Banking Association OF the Territory
of oklahoma.
RELATIONSHIP BETWEEN PRIVATE
STATE AND NATIONAL BANKS.
Hon j. c. Post now addressed the con-
vonuon in an able paper and stirred up
the delegates into active business
Mr. President ana Gentlemen Of the
Convention:
wing been assigned the important sub
ject Of THE relationship between Private.
State and National Banks" / starte by
subject by making the statement that,
In my judgment gentlemen, there is no
difference. All good, safe and solid bank
ing institutions have. three objects in
view;
First, the solvency OF their respective
banks; second the confidence Of the pub
l'c and third but by no means least, to
lends to their respective stockh-
oldres, as required by the Charter and by
laws OF the corporation.
Having had something like twenty years
personal experience in the conducting OF
private, state and National banks, in the
west and south. and during this entire
period have been actively and continuous
ly engaged in the banking business, ex-
cepting the :iuie l served as Bank EV-
arlner, and, say to you, Mr.. President.
and gentlement Of the convention, that
know OF no a,eterial difference between
these respective organizations, so far as
The word. Private" as applied to
Banks, means A private individual, part
nership OF association, as the case may be,
assoc!ating themselves toether for ,he
purpose Of carrying on banking busi-
ness. II 4 private banking institution has
ne public at large.
good, safe, conservative and solvent as
sociates and is under the proper manage
ment. In my Judgment It IL one OF the saf-
est institutions that can exist. for bank
ins purposes. as they are individually and
liable as an association for
each and every dollar entrusted to them.
A state or territorial banking institution
IS chartered under and by virtue OF the
laws OF the commonwealth I'm which II is
located and doing business. And, the laws
of this Territory are so closely allied with
the National Banking laws, that there
Is virtually no difference between these
organizations.
/ am proud to be able TO state, that there
4ures OF banking inst-
tltions IN Oklahoma since It's organiza-
tlon. tina in any state or territory In the
under the existing laws and personal
supervision Of our present Banking Board,
and our efficient Bank Examiner cannot
be excelled, II equal, IN any OF theolder
sections Of the country. State Banks
when first chartered under the old law,
We're Banks Of issue. but they werefound
by long experience df not sad not safe.
and were abandoned. The state Banks
as they now exist under state laws. II
the laws are strictly compiled with, arc
safe. but give no more protection to de-
positors, than private banks.
NATIONAL BANK ACT.
The National Bank Act. as II now exists
in my judgment. should be some what
modified. 1t only carries with Sc the name
National Bank" and only shows to the
world that the Fifty Thousand Dollars
have either been paid in or subscribed ~
capital stock and while Il IS an ADVERTISE
ment stan it fails 10 protect its deposit
tors 60 any greater extent than a private
or state bank. The banking laws OF our
Territory, as tAey now exist. guarantee
to the public at large. every protection.
according to their respective capitals, that
a National Banking organization does.
And from the fact, Mr. President, that
the stockholders. officers and directors
are and must necessarily be residents OF
the Territory and the community In which
they ace doing business. m fully con-
WINGED that they give greater protection
than the National Bank organizations. /
seriously question whether any Terriotr-
ial Bank would be considered safe and
solvent in the community In which II
was doing business, that did not carry
at ali times a larger available cash re-
serve. than Is required by the National
Bank Act.
i wish 10 call especial attention Of this
conventiontO the last report made b.
the respective banks doing business under
their respective charters. issued by the
Territorial Banking Board and ask com
pJarlson with that OF the respective Ma.
tional Banks Of this Territory, made u
the CamIoller OF the Currency. Thii
VIII be self explanatory. And, will show