The Butler weekly times. (Butler, Mo.) 1881-1918, 1905-07-13
Sam Cook Defends
His Administration,

state, gave out statement relative
to the failure OF Salmon & Salmon
bank at Clinton, directed to the Kan
sas City Star, in answer to a recent
editorialin that paper which charged
that the political pull Of one Of the
banks owners protected it from in.
spection.
The following sreexcerpts from Mr..
Cooks able defense OF his admins.
tration:
"The Salmon & Salmon Bank was
a private bank, and the private for.
tunes OF the owners, under the law,
are liable for all the bank 8 liabilities.
Both Major Salmon and his brother,
Doctor Salmon, enjoyed to as fullex-
tent as any two citizens OF the State
the confidence OF bankers and bust.
ness men throughout Missouri, as
well AZ of the people OF their home
county. ! never at any time felt the
slightest uneasiness as to the ability
Of their bank to meet every obliga.
ton until the forgeries OF Manager
Casey we're made public. During the
four years | was In charge OF the
State Banking Department. the Sal
mon & Salmon Bank was examined
three times by Inspectors Of the de-
partment-once by Mr.. George d.
Biggs, in 1901, and by Mr.. C. T.
Bunce, in November, 1902, and again
at the close OF business December 81,
1904, the latter examination being
made Jnuary %. 1905. None OF the
examinations showed the bank to be
in the least embarrassed, and the
last examination showed q better
condition than the two previous
ones. The notes, many OF which
have since turned out to be iorgeries,
were on men OF unquestioned finan.
cial ability.
The loans were practically equal to
the deposits, the cash reserve was
ample, while the surplus and undivid-
ed profits, with the capital, showed
the bank to be In sale condition,
without involving the priva te fortune
OF the owners at all. The bank only
owed, according TO the sworn state.
ment OF Manager Casey, made to Mr..
Biggs, on January 3, 1905, S25, 900.
As to the efficiency, impartiality
and integrity OF the department. dur.
Ing my term OF office, l challenge a
with any State or ma
tional examination made In any
Commonwealth In the entire country.
There is not q reputable banker In
Missouri who will not say that the
department. performed it's duties with
absolute fidelity, wholly free from
political bias or influence.
During the four years in which l
had supervision OF this important
work, Messrs. George D. Biggs, W. L.
Mcdonald, David B. Seibert, G. L. |
Bunce and W. Fl. Reed were examin.
RS, with Mr.. George B. Carstarpben
Is bank clerk. Mr.. Mcdonald retired
n 1901 and was succeeded by Mr. |
Bunce, and he, with the other gen.
'lemen named, remained with the de.
oartment until the expiration of my
term. The reflection on them, in the
ace OF their fidelity, is infamous. No
public servants were ever more faith
ul to duty or discharged it with great.
# fidelity or impartiality. The rec
ord they left won Tor the department.
the confidence and esteem OF the
strongest and ablest bankers Of the
State. During their four years. SER
vice there were only four bank fall
nres, the total loss to depositors be-
ing lees than $4,000. What other
administration, state or national
can show a better record?
No law, however stringent or how.
ever faithfully enforced, has or can
prevent forgery, and forgery cannot
be detected at once.
The national bank examiner In
'pected Bigelow's bank at Milwaukee
more than a dozen times while Bige-
ow was carrying on his populations,
but did not discover the forged en-
tries which he carried for ten years,
during which time he defrauded the
bank OF two and q hall millions OF
dollars.
The last examination, as stated,
was made by Mr.. Bunce, on January
, and 8, 1905. The report Of the ex.
animation, with Others made by Mr..
Bunce, was mailed to the department
1t the close OF the week and turned
over to my successor on the Monday
'ellewiHg, together with the reports
81 other examiners made during the
same period. None Of these reports
could be examined by me, ss / retired
rom Office at noon Monday, and I
never saw one OF them until after the
Clinton failure, when, with Mr.. Bunce
and Mr.. Csrstarphen, l went over the
'eports OF the Salmon & Salmon
Bank on nle in the Office OF the Secre-
'ary OF State.
sWhile examining the reports OF the
examination OF the Salmon & Salmon
Bank In The office OF the Secretary OF
State, on July 2, 1905, Bank Clerk
Jocks explanation for giving the |