The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1907-10-30
slowly and cautiously. but never d,
anything IKE that


slowly and cautiously. but never do
anything Ike that
Draft Resolutions.
The following committee was ap-
pointed to draft set OF rules and
regulations 10 govern banking inter
esta of the community. L. d. Groom
of Bristow: G. j. McGraw. of Ponca
city. f. =. Blake, BlackwelG S. S
Swinlord Pawueei T. g. Holcomb
Oklahoma Citv: l.. c. Guss, Guthrie.
and Bank Commissioner Smock. The
committee brought in TWO reports. a
majority and minority report The
minority report was drafted By Pres
ident make. of the Oklahoma and
Indian Territory Bankers association.
and C. J. McGraw, OF PonCa CITY. who.
believing that the financial situation
would not clear Uu for weeks thought
IL best 10 formulate a county clearing
house system, and issue asset GER
! titicates to take the place of money
/ IThls plan. according 20 Banker futile
| OF Edmond. was worked under the
government supervision iu the state of
/ Missouri iG 1871 and the certificates
were AN taken up and redeemed with
out any after crash
The majority report was agreed
TO and referred TO the State Bankers
association which meets here tomor
row night recommending that il be
adopted The report follows
"That for accounts of $40 or under
certificates OF deposits be issued in
denominations of even dollars. the odd
cents 10 be paid in silver
"On deposits of over $40 we viii
pay So in one day and not TO exceed
$40 in any week, In cash or exchange
and for the balance of the account
! If desired. issue a certificate OF de
Iposit I'm denomination of even dollars
Settlements of bank balances
(Which applies only to ciues) be
tween banks in the territories 10 BE-
settled by agreement among them
! / selves
New denosits made in cash shal
Dc subiecr 20 check IN nll either il
cash or iu exchange az the option o
3 the depositor.
: New deposits Ga exchange shall b
4 paid either i'm exchange or m cash q
q tbo ontiou of the banks
We recommend that the govemo
j extend the holiday period until stat,
NJ hood or 30 days If possible
N The Minority Plan.
The plan presented by the miuorit
4 report is as follows
We hereby recommend that IN
n banks of each county organize
4 county association which shall be con
4 posed of one preventative from cac
n bank The association shah DE 20
a the purpose 0f apnlying the preser
q shortage I'M currency and On the TO
lowing manner:
"The assoc ialiou win meet ard cleo
Il q committee of three from each ban
Il town. On request of amy member an
4 ON the presentation to said committo
u of collateral said collateral shall
N inspected and 70 found satisfact)r
a shall be accented and turned over Z
4 a trustee who shall be selected D.
n the representatives of that town q
u by the whole assOcihtion
THE association shan issue 90 sal
II member certificates of the face yalu
Y of 75 por cent OF collateral deposite,
81 These certificates shall De printed
n denominations of 81. 81. 81 and 81
D and shall be signed hY the trustel
N These certificates shall De- c0unte
E signed by no presideut on the Cashi,
b of the banks issuing The same A
s. collateral shall bear the endorsemeI
oi the bank when deposited With N
y trustee as collateral fOr certificate
4 issued and are not neeotahle excel
E on order )i the association
Il These certificates are designed
+ circulate in tho country and serve
Z transacung an business and none
the banks ere 10 pay ont currency
Blake and McGraw wlll present IA
< pl0n 10 the state association aloi
z with the recommendation of the m
joriiy report
n That the minority plan will be q