The Springdale news., 1907-08-16
SOMETHING ABOUT
 NATIONAL BANKS.

The paper cutting machine which does duty ir the News of- flee had a job last week the like of which # never had before, and which is somewhat unusual in the ordinary printing office. It was nothing more nor less than the sIicing up oI bright. new national bank notes. and while tile operator may possibly have been a little bit nervous. the ma chine didn't seem to be effected i'll tile least.
 The notes were the first ones to be received by the First Ma tionai Bank of this place. They We're in sheets, four bills to the sheet, just as they came from the printing press. Each bill had to be sigued by the president of the bank, Dr. G.G Dodson, aud the SdNAltCl' J' 4ICd C1t Ot dNSlSb- ant cashier, Arthur Dyes. After being cut apart they were then ready for circulation, and sor all ordinary everyday purposes are as good as so much gold. Ii will doubtless be new> to some people to learn, however. that | national bank note k not legal tender for tie payment ot inter est on government bonds, k n0t receivable for customs, is lot ap- plieabie tor payment of the na tional debt. and X not counted II tie legal reserve of national bank The legal reserve tS the amount of money tie government requires ~ natlona banks to keep on lands at afHtimes, which aIa>t De It least 15 per cent of tlle# deposits. and | bank eanuot ceunt its oWa.i>>ue. CT thc issue of othe- national haak>. Ia tIli> reserve.
 To get these national bank aote> q bank m4St purchase 99ov ernment bonds eqssaI n value to tie amount of notes which they desire to i>sae. which Zdepos- tied with t59e comptroller af=eur- reney ii Washington City. Every national bank l> required to invest at= least ene-tourth of ! its capital stock government bonds. All the capital stock may be >o invested if desired. but the law requires that no less than d fourth be invested this way. The banks must also pay for making the plates from which the notes are printed, which amounts to about s75 each. The notes may be of any denoni- nation required. The Issue of the First National of this place was o10,000, which was in lives, tens and twentieS. A new national bank note iS as pretty as q chromo, and while they may lot be as good as gold" m the | StrlcteSt sense of the word, we're i taking 'en at the News office
 whenever We get chance at one hundred cents on the dollar Every national bank note has the name of the bank, and it's loca- ton, printed on the face, so Springdale will get some ad- vertising from the First Nation al Bank
 National banks are under the supervision of the government, and the comptroller of the cur rency calls oil them five times during each year for a statement of their business, which state nent must be made public. The call for statement from all national banks is made tt the same time, but no one knows when It k coming In addition to this, q national bank exami- her visits every bank five times tltl III < CdN II NdL dtttI itidhCS dll inspection of the books to see that everything IS being proper ly conducted. His visits are al- ways unexpected When there iS more than one national bank Ill q town he naF visit eHe Of them this week and thea in 4 couple ot months unexpectedly drop in on another.
 Now If YOU want to start a national bank, you know some thing ot what is required and what to expect.
 Ed. L NJ Phillips returned Sunday afternoon from Vest vile, !. T.. where he had been conducting meeting winch closed Sunday at II o'clock. The meeting was quite success ful, and the ordinance of bap- tism was administered to sixteen candidates. He k now con-