The Vinita daily chieftain. [volume] (Vinita, Indian Territory [Okla.]) 1902-1913, 1908-09-05
i3,644, ,54o,5O, MORE INDIVIDUAL
DEPOSITS NOW IN BANKS
BANKING BOARDS STATEMENT
Report Shows Decrease of Deposits
in Unsecured Banks to be more
Than two Million
Dollars

Guthrie. Okla, Sept 5-An interesting
array Of figures is contained in the state
ment made public by the state banking
board, showing comparison Of conditions
ander the old banking regime and Of that
period since the depositors' guaranty law
became effective.
The statement that is most satisfactory
10 the advocates Of the final innovation
that is making Oklahoma famous the
world over is this
There is $S.644.54O.5 more individ-
sual deposits in the banks of the state, ac-
cording to the banking board figures, than
before the guaranty law was passed, with
all Of this increase deposited in banks
secured by this law.
Again, on August IA the depositors
Guaranty law had been in effect six
months without a dollars loss to the fund,
although one bank has failed and its de-
positors paid.
The correctness Of the statement which
follows is attested to by Lieutenant Gov
Bellamy, chairman and RsC. Oakes, sec
retary of the board;
The depostors guaranty law was
passed Dec. II. 1907, and was made
operative February IA, 1908.
} Bank reports show that the effect OF the
haw began weeks before the law was in
actual operation.
There are now 556 banks under the
law in this state, including 81 national
banks. There are PSI unsecured banks
can national in this state)
The dates of statement calls were as
follows.
For national banks December 3, 1907
. February IA. 1908, and May IA, 1908,
and July Is. 1908
For state banks, December II, 1907,
February 20, 1908 and May IA, 1908.
and July IS. 1908.
From December 3, 1907 to Februaryl4,
1908, the deposits in the unsecured banks
decreased about an even half million. The
secured national banks for the same
period gained in deposits about $500, 600.
State banks Call securely for the period
from December II. 1907 to February 20,
1908, shows an increase in deposits Of
S7l6,749,47.
For the period ending May IA, sec ured
national banks show an increase in de-
posits Of $645,413.61
State banks Gall securely for the period
ending May IA, shows am increase in de-
posits Of 55,60214.
For the period ending May IA the un-
secured banks Call natlonaD lost in de-
posits $60O,807.86.
Deposits for state funds for period end
ing May IA shows a decrease Of both
classes Of banks as follows:
In secured banks. $21, $3.50.
In unsecured banks, $669,9l9.76.
Four hundred and ninety-nine state
banks for the period ending July l5,snows
an increase of deposits of $82S,639.9l
Fifty-four secured national banks for
period ending July is, shows a decrease
in deposits Of $5s71sS.4s.
This decrease, it is claimed, was caused
by the comptroller commanding several
national banks to stay out of the guar
anty fund, leading to the belief that
national banks that we're under the law
would be forced out, which has since
proven true.
Two hundred and fifty-one unsecured
national banks for the period ending
July is, show a decrease in deposits OF
1884, 66O28.
For this same period deposits of state
funds show a decrease in both classes OF