The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1908-02-21
FoRoAN ANo VESTED RI.,Ars

James 4. Forgan, president OF the
First National bank, Chicago. sup
posed to be tha strongest bank in the
Central states If not IN America has
written an open letter 20 William
Jennings Bryan, Stating that the sup.
port given the bank guaranty law Is
unfair unstatesmanlike and against
all public policy
Mr.. Forgan goes to some length in
stating tge value OF the shares Of
stock in his bank are worth two dol
lars for one
He insists the management of that
institution and the wisdom of It's
directofate have won for the bank a
name and fame worthy OF being made
much OF. insisting. also that any at.
tempt 20 place an banks on the same
level makes OF the speculator the
same kind of banker the mon who
have wcathciod all financial storms.
aud retained the confidence and good
NilI OF the people throughout all the
times good or bad
Mr. Forgan also relates II is uufair
10 the Stockholders Of his bank Ia
nave IL insured by Sate. and thus
permit the little bankers who have
not the capital or foresight to stem
financial gales 10 become on parity
vim bis and like concerns
An Of which IS interesting, but con
tains no eieaont OF fact. and ID no
way considers the interests Of the
great dcposlting public; the losers ~
all cases of failure,
Last fall a certified check on the
Forgan bank was tnrned down IN
city not one hundred miles from
Guthrie The check was properly cor
tiled 10, AMI called for Ss.2000O. The
holder had taken the check because of
alleged convenience. aud. when he
needed money. had as well beea pos
sessed OF some cigarette paper.
The stockholders OF the Chicago
bank may have been serene, trustful
aud filled with tremendous conf.
dence, but the poor traveller. out here
ia land wheae an men are consider
ed honest until proven otherwise, had
TO wire a relative TO send him few
dollars by American Epres. before
he could pay his laundry bills.
Moreover Mr. Forgan. as deposl-
tory for certain country banks. had
some S4OO00.00000 OF other bank
moneys and he kept Il throughout the
panic, issuing clearing house certih,
Gates therefor
II Il were not for being a plain. vul-
gar way OF stating fact. The Leader
would assert Mr.. Forsan received
cash from others. and gegin here la
return, he actually asked the people
TO receive clearing house certidcates
rntii such time as BE felt called upon
&c hand back The actual cash.
Mr.. Forgau chirrups OF vested
rights. The pirates who sailed the
Spanish Main We're the original vested
rights champions and they held waat
ever worked their pockets bad was
against the law of the Main
They were NOT as strong on prayer
and writing open letters. but the same
selfish motive actuated them as does
make al the many men in our country
the chiruplug birds OF wall and
iamentation
a bank Is sound and good in pro-
portion TO what n can pay on the dol.
lar deposited and what good IL works
for the community II i be run for
the simple purpose ol making divi.
denes 10 the shareholders. well and
eood, but. when such Is the case. It
is not fair they raise a howl over
measure enacted that the men WHO
deposit their an may have assurance
they. TOO. can have their money when
they set the idea they wish 10 use
some Ol a.
Of tho 100000 people in these Uni
tea States hui q small number "a them
are stockholders in a Sank oi ans
description Shalt This vast majority
continue the prey oi the hanks which
break each year that the sharehold
ers may reap a larger dividend. or
shall these dopositors have the pro
tcction. surety and snlety guaranteed
snd OF their rigng by reason OF the
taxes they 10 pay
Mr Forsan may have lived Ia an
age where the name Was an ncces
0ary3 but that day is oi tha past. and
the present meeps men ln an walks
of life must answer to their fellows
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