The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1908-01-31

any peron who with Ike r,e-, aids Or ates any off,
GER age1; CT clerk IN any violation ot this section.
shall be deemed g,ity OF larceny. and upon ccny.c-
t9a thereof shall te punished as :9r larceny Of
the am.un; directly involved.
SEcrIos i. Every hank doing business under
the laws Il this State shall have hand all times
in available funds the following sums i5-..it Banks
pca,et the towns OF ci,.e. having population Of
less than twenty-five hundred persons. an amount
equal twenty-five per cent II their entire deposits
banks .,catei in cities having twenty-five hundred
population. amount equal TO twenty-five per
oi their entire deposits two-thris q which may con-
sst oi balances due 70 them from good soyer; banks
selected from time 70 time with the approval q; the
Bank Cammis,1ner. and one-third shall consist Of
actual cash; Pr05ittd, tha; any bank that has been
made the depository for the reserve o any other bank
or banks shall have hand all times in the man
provided herein twenty-five per cent Of its de-
pos,,,. Whenever the available funds in any bank shall
be below the required amount, such bank shall not
increase IL liabilities by making any loans dis
counts otherwise than the discounting purchasing
bills q exchange payable at sight make any div
lleLs Of lis profits until the required proportion be-
tween the aggregate amount Of its deposits and its
lawful money has been restored and the Bank
Commissioner shall notify any bank whose lawful
money reserve shall be below the amount required to
be kept hand - make good such reserve, and such
bank association shall fail do for a period OF
thirty days after such notice. shall be deemed be
iusllyeut, and the Bank Commissioner shall take
possession Of the and proceed in the manner
provided in this Act relating 10 usoyent banks The
Bank Commissioner may refuse o consider. a part
of its balances due any bank from any other
bank association which shall refuse or neglect to
furnish him with such information as he may require
from time to time relating its business with any
other bank doing Isiness under this Act which shall
enable him TO det mine its solyency. Pro5Tdcd that
all savings banks or savings associations which do
not transact general banking business shall be
quired keep on hand all times in actual cash
a equal 10 ten per cent Of their deposits, and shall
be required to keep like invested in good bonds
Of the United States State, county, school district
municipal bonds Of the State Of Oklahoma, worth
not less than par.
SECTION 10 The total liabilities to any bank
OF any person. company, corporation firm, for bor-
rowed money, including the liabilities OF the company
or firm and the liabilities OF the several members
thereof shall not at any time exceed twenty per
OF the capital stock OF such bank actually paid in but
the discount Of bills OF exchange drawn in good faith
against actual existing values collateral security
and discount Of commercial business paper actually
owned by the person shall be considered money
borrowed. PrO5idcd h07yc5er that any bank without
mpairing its reserves may advance funds any per-
son, company, corporation firm, TO assist in
ketng agricultural products, in amounts not exceeding
scyenty-ye per cent OF its paid up capital, such adj
vances or loans must be limited to seventyfve per
cent OF the actual cash market value OF such products
secured by elevator receipts, warehouse certificates,
yard tickets with the fire insurance policies in
amount to guarantee the bank against loss The Bank
! Commissioner shall require any bank to reduce IL
qudatc any OF the aforesaid loans when he deems the
security insufficient; believes that the loans are being
carried ior speculation, that the condition OF the
bank will not justify such loans.
SECTION ~ The violation OF any of the pro-
vision, OF this Net by the Officers directors OF any
bank organized existing subject the laws OF this
State shall be sufficient to subject the said
bank to be closed by the Bank Examiner and for the
! annument OF its charter
! SECTION IS. Any officer OF a bank found by the
! Bank Commissioner TO be dishonest, reckless in
competent, shall be removed from office bv the Board
OF Directors OF the bank OF which he is an officer,
the written order of the Bank Commissioner.
Section 10, The expense OF administering the
! Dcpositors' Guaranty Fund by the State Banking
! Board shall be paid from said fund.
SECTION All and OF in conflict