The Paducah evening sun. [volume] (Paducah, Ky.) 1906-1929, 1908-10-29


ore for starting banks which ls sweep
ing the state IKE a prairie Gre hut
that they are also powerless 10 curb
or check this tendencly, and that APP
pllcants for charters IAN look alike"
to the eye OF the law. just as All
banks nnder that law iOok aiike' 10
depositors.
Case Of the Salisaw Bank.
sun another incident suggests that
the banking authorities feel the sitn-
alton needs restraining hand And
by the same token IS as clearly
demonstrated the fact that The author
ties are without the power 10 control
the situation or even TO moderate q IN
degree
The SalIsaw Bank and Trust COM
pany OF Salisaw. OKLA. openly adveF
Used IL would pay rate OF interest
on deposits nearly or quite double tho
limit designated by the bank com
Missioner The result was that the
management OF this institution was
promptly called over the carpet BY
that officer
immediately after receiving this
reprimand the management Of the
bank openly advertised that while the
bank had been Informed 81 could not
under the rules and regulations OF
the banking board, pay a higher rate
Of interest 81 deposits than 4 per
cent, the president OF the bank would
himself. personally. pay an additional
premium or discount which would
give 20 the deposition as high a rate
OF interest as that designated IN the
previous Advertisement Of the bank
Rate Set by Need of Cash.
How much a bank Will pay FOR de-
posits here IN oklahoma Is merely a
question OF how keenly the banker
desires the money which in most
cases where an abnormal rate OF In
terest Is paid means how much he
hopes 20 realize from the use OF the
depositors' money in speculative In
yestments which promise. to his mind
fantastic margin OF profit.
q. ID. y. Roberts. president OF the
First National bank OF Ponca City,
Okla. says: "Ralston and Fairfax arc
two neighbOring towns when the so
called bank guaranty law went into
effect each of these towns had two
national banks Ralston has a popl-
lation Of only SIS. while Fairfax
about eight miles distant has only
i10. There is now one new state
bank In each town and one more for
each town Is organized and fighting
to get In.
and under the recent ruling Of
Judge Houston they will get their
certificates TO operate In these towns
making four banks in each town. In
each OF these two towns the national
banks have a capiai OF $3.50
each and quite a GOOD surplus. Think
of four banks Attempting to live and
prosper IN a town Of 57S population
to say nothing of four banks at
tempting to get on IN a hamlet Of
only go men. women. and children,
Wildcats Coed - Real Banks.
"The state banks have $40 600
each. and under 'Buanlsm' IN Okla
homa the state bank with rs little
capital and It's reckless bankers IS
just as good in the eyes OF deposltors
and In the business II can get as the
solid national bank. because II is do
ing business on the standing and the
solvency Of the good banks having
substantial capital and surplus aud q
good reputation built up by years OF
careful and conservative banking.
Organism says TO the people:
You may deposit your money in my
banks and IN one OF them falls I viii
walk over TO the good banks and put
my hands into their cash drawers and
without their consent take out enough
10 pay you--sO do your business with
the banks that come under the oper-
alton of Organism In Oklahoma"
The recent closing OF the Interna-
tional bank OF Colgate. Okla. which
already had been commented upon IN
the public dispatches. is matter of
present interest from the fact that IS
president is now proclaimlng that his