Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1908-09-29

dence of having been buried. Upon
another occasion, farmer sold his
farm for 81, 800 cash, and at the time
of sale he came into our bank and was
intending to take the proceeds of the
sale all in cash. After explained to
him the new banking law of Oklahoma
which gave to depositors a protection
not afforded by any other state, of
which he had ever heard, he mmed-
ately concluded to leave his money on
deposit with us. The amount is still
on deposit in our bank at this time. On
another occasion, widow sold her
farm in our county and removed to
Colorado. She said she desired to have
her money left with us as she knew
the banks of Oklahoma were under the
Guarantee Deposit Law of the state.
She felt perfectly satisfied with the
protection afforded by the new bank
ing law and would only draw upon her
account when actually needed.
We could multiply instances of the
same character almost without num-
Der, but hardly. think it necessary to
give additional ones, am one of the
national bankers who have avaied my
self of the benefit of the Depositors
Guarantee law of our state and feel
that it is the best move that we have
ever made since we have been in the
banking business.
There was no particular reason why
our deposits should increase so rapidly
as our city has only had steady growth,
no boom of any kind, and no unusual
deposits of any size.
l believe the banking business to be
an honorable business, and if conducted
according to law, there will never be a
failure OF either national or a state
bank and as long as banks are conduc-
ted along these lines, the bankers
should be willing to stand for each
i, other and there would be no liability in
doing so, if the business is conducted
as it should be. If the bankers of our
state are not willing to stand for mu-
j tual protection of each other | cannot
for the life of me see how they could
expect the deposits of the public to be
left with them without any guarantee
whatever, if the bankers themselves
cannot trust each other feel certain
that no banker will ever be called
upon to pay any guarantee for oul
business, and | have faith in the banks
of our state being conducted along simi.
lar lines that | will not be called upor
to pay for any of their shortcomings
With the supervision that the state
banking board is giving the secured
banks together with the class of bank
ers that we have in the business,
feel quite sure there will be no loss to
the banks on account of the Deposi-
tors Guarantee Law.
There is a sense of security in run
ming bank under the Depositors
Guarantee Law that there never was
before, in this, that we know that no
false rumors can be started affecting
the banks that are under this new law.
The public knows full we'll that the
failure of any bank would not affect
their deposits, hence, for that reason,
along with many others, l think that
the law is having good effect upon
the banks and the people that do bust
ness with them. We can loan a larger
per cent of the bank s funds and feel
perfectly safe in SO doing, knowing
full we'll that the tongue of the Sian.
derer is hushed, and false report of
the envious is stopped before it even
gets start. Yours truly,
o. j. FLEMING, Pres.