The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-08-14
OKLAHOMA BANKS
AND CONDITIONS

| Continued from Second Page
against deposits which fiuctuate with far
greater rapidfty and in greater amounts
| than in an older community. The aver
| age capital being relatively small he
will keep his loans we'll distributed, thus
securing a minimum of risk, a maximum
of rate and extending his accommoda-
tons TO greater number of the bank
patrons.
MORE ABILITY REQUIRED
In the opinion of the writer, it re-
| quires more ability to properly conduct a
bank in Oklahoma than in the older
states. In Iowa, Illinois or Missouri,
when a farmer sells his place and moves
to another locality, the matter is quite
an incident; and while conditions here
are constantly improving. the fact that
man remains on a farm for a num-
Der of years is an incident. This neces-
states loans being placed very largely
on chattel mortgage security, the ex-
emption law being very favorable to
the debtor.
The great volume of clearing for Ok
lahoma banks is done through Kansas
City; and for the greater portion of
the territory that city is the logical clear
ing point, as well as the logical market
for cattle and wheat; the cotton being
moved southwark TO the Gulf. The pres
ent prospect for a good cotton and corn
crop was never better, and the Oklahoma
banker, whose prosperity is closely de-
pendent upon the growth of all the in
dustries, and the prosperity of all classes
~ he haC for.
graduation. He lives in a land of splen-
did and varied resources; among people
of magnificent skill and industry, peo-
pie who have with characteristic west
energy in the period Of thirteen years
since the territory was first opened for
settlement transformed the wild plains
and lonely woodlands, inhabited only
by the red man. into prosperous com
monwealth, justly and honestly proud of
its advance along all those lines which
max ca state great and a government
glorious. This grand result has been
contributed TO in a large measure by
the bankers of Oklahoma, who realize
that the building up of their banks cam
be best accomplished by the upbuilding
of every other legitimate industry. Their
opportunities are great, but their respon-
sibilities are even greater. They are
the custodians of the peoples money.
placed in their hands without a word
being spoken, with fullest confidence
that it will be properly invested. safely
kept, and promptly paid on demand.
IF the people want good, safe banks
in which to deposit their money. and to
which they may apply for proper ac-
commodations to assist them in the con-
duct of their enterprises, banks which
will centralze the surplus capital OF
their respective localities and place them
in the legitimate channels of trade ana
industry, they may, in a large measure
have just such banks as they want. If
they FAINT banks to start with $500 IN
cash, and one-third of that amount in
real estate, furniture and fixtures, they
will SO instruct their representatives in
the territorial assembly 1t is true, our
territory is young, and we desire to fos-
ter all lines of productive and useful in
dussry; but the banks, If necessary,
should be fewer. farther apart, and
builded upon stronger foundations. This
year everything conspires TO induce en-
barkation in the banking business; the
crops are good and money is easy, only
q little money is required and the new
lines of railroads make the new towns
However, it is not to be expected that
we shall never meet with reverses. The
people will have thir money in the banks
and that is where they ought TO have it,
but they should insist upon a reasonable
amount Of capital being employed by
everyone desiring to hold their money on
deposit. and loan it to whomsoever they
may desire, without asking the consent
of the depositor, or stopping for q mo-
ment to consider whether or not the de-
position woul dapprove of the loan.
ONLY ONE FAILURE
"A banking corporation is the creature
of law. 1t is called into being by leg
islative enactment. prescribing the ex-
tent and limitation OF its powers. These
powers should be sufficiently liberal in
their scope to give all needed banking
facilities 10 every part Of the jurisdiction
over which the law may operate; they
should be so limited, however, as to in
sure safety and stability in the business. |
Erhe law may require ample capital, |
and prescribe regulations. The best asset I
OF a bank is. after it is properly capital |
lied. a manager Of honesty. experience /
and ability. While the average capital !
employed by the banks in Oklahoma IS /
small. there being but three banks with /
a capital stock of $4,000, we have bad |
but one failure in several years. this /
occurring two years ago.
There is much intelligence being ex-
ercised IN the conduct Of the business +
here, as elsewhere. and the profits de /
rived from the amount OF capital IN /
vested are as great as from capital in /
vested in the same business IN any sec
ton OF the globe.
Few people. indeed living in the /
north and east. have any adequate con- |
ception of this magnificent territory. The 1
extreme versatility OF It's soil. its mild /
and eauable climate and the develop
ment now in progress within lis bor-
ders. As large IN square miles as Indl- I
ana or Kentucky. and nearly as large
as Ohio. it IS capable OF sustaining a /
population equal 70 that sustained BY
either OF those states. All We lack is
statehood. and that shall rot long be
10 make her a leading western
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