The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1908-01-30
HIS LAST WORD.
HOch Makes Final Appeal for
Bank Deposit Bill.
Says National Banks Won't Be
Shut Out.
TELLS OF OKLAHOMA.
There These Institutions Are
Falling in Line.
Failure of Bill Would Project
Issue Into Campaign.
TELLS OF OKLAHOMA.

Governor E. W. Hoch this morning
addressed to the legislature what he
calls a final appeal for the passage
of the guaranty deposit law.
The special message was read in the
house at 11:30 this morning, and in the
senate soon after. In the house the
reading of the message was received
with applause
The following is the message:
Topeka, January 20, 1908
TO the Senate and House of Represen-
tatives:
Before final action is taken upon the
proposition to guarantee deposits in the
banks of this state it is due to the ex-
ecutive department and to the 1egisla-
tive department alike that certain
facts be made perfectly clear.
Strenuous efforts have been made by
the opponents of this proposition to
cloud the issue with the contention that
such law will be unjust to the 200
national banks, of this state for the al
legged reason that they will not be per-
mitted to participate in it's operation.
On the goth of this month press dis
patch from Washington appeared sim
ultaneously in daily papers circulating
in this state stating that the comp
troller of the currency had that day
mailed a letter to me giving his opin-
ion adverse to the participation of ma
this letter was sent to a distinguished
member of the state senate on the fol-
lowing day, viz: the 21st day of Janu-
ary. This letter from the comptroller
has never reached me, and on the ev
ening Of the 9th of this month l tele-
graphed to the comptroller to know
whether any such letter had been writ
ten and sent to me. On the 28th I re-
ceived telegraphic reply saying that
the comptroller was out of the city but
- III 20,
me yesterday, which has not yet reach
ed me. In this letter the comptroller
expresses an adverse opinion to the
participation of the national banks of
Oklahoma in the new guaranty law of
that state, and the preteXt for this
opinion by the comptroller is stated by
him in this letter in the following
language: "If the opinion of Mr.. Rob
ertson, cashier of the First National
bank Of Lawton, Ok, is correct no such
application by any national bank in
Oklahoma will be made
Now, l have had three kilograms,
two from the comptrollers office. and
one from the governor of Oklahoma
within the last three weeks stating
that the comptroller would make no
ruling in reference to this matter un-
til a concrete contract has been
agreed to by some national bank in
Oklahoma with the state authorities.
when the proposition would be put up
10 the attorney general OF The On1L0Q
States for his opinion. If this let
ter from the comptroller of the cur
rency is genuine he has departed from
this announced policy of waiting for
an opinion from the attorney general
before ruling upon the proposition
himself, and if he bases this departure
upon the information which he says
he had obtained from Mr. Robertson.
an Oklahoma national lawyer, to the
effect that the natio1raI Danks of that
state would not ask to participate in
the new law. he is certainly mistaken
in his premises. In addition to this
letter trying to convince this legisla-
ture that the national banks of Okla
homa cannot participate in their new
law there was printed in the Topeka
Capital on Sunday morning January 26,
a letter from Mr.. c. De Roberts, presi-
dent of the First National Bank of
Commerce of Ponca City, Okla. ad-
dressed to Mr.. c. Q. Chandler, owner
of the large chain of banks with
headquarters at Wichita, in which Mr..
De Roberts says, There are 500 ma
tional banks in Oklahoma that do not
want insurance in rnfs state law"
That is to say, none of the national
banks in Oklahoma want to partici-
pate, for there are just 500 national
banks in that state. In addition to
this Mr.. De Roberts says, You can
say to the governor of your state that
keen
from coming under the law instead of
getting insurance under it,
Oklahoma Failing in Line.
Now, I am this day, January 20. in
receipt of a letter fror-. the governor
of Oklahoma in which he SAYS, "Be-
tween Sunday morning and noon to-
day (Tuesday) forty-seven of our ma
tional banks have requested the
examination of our banking commits
Sioner preliminary to admitting them
on February IS" l am also this day
in receipt of a telegram from Senator
Robert L. Owen of Oklahoma him
self one of the most prominent ma
tfonal bankers in Oklahoma. in which
he says. "A vote of stockholders of
any national bank would give COM
plete justification for the purpose of
insurance under the state PLAN The
governor of Oklahoma afso writes me-
this morning, Il have it through GER
tain of our national bankers that the
comptroller Of the currency feels that
If the interests of the depositors in ma
tional banks are protected that the
equity in bank assets is the pronerty
of the stockholders of the bank to deal
with" In other words according to
this information arrangements are AL
ready being made by which the ma
tional banks of Oklahoma may be per-
mitted to participate in their new
state law.
And I want to go on record. gentle
men. in predicting that if you adjourn
without passing depositors' guaranty
law it will not be so days until prac-
tically all the national banks of okla
homa will be participating in the bene-
fits of their law, and if you refuse to
pass this law for Kansas you should
do it with these facts in your posses
sion. The national banks of Oklahoma
are scrambling this very day to get un-
der the protection OF their guaranty
law.
Won't End Controversy
II this measure Ia defeated by the