Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1909-11-03
PLAN TO ORGANIZE COMPANY in
IOWA MEETING WITH AP-
PRoVAL.
BUSINESS WILL BE SIMILAR
TO OTHER INSURANCE
Company Will Take Only Good Risks
and Will Have Bank Examiners in
Field OBSERVATION-DISCLOSURES Of Promot-
ers Not Yet Made Public-Farmers'
Meetings to Hold the Boards Soon.
,ecia] to Tin,es-Ren,,hlicar

Special to Times Republican,
Des Moines, Nov. s. John L. Bleak
ley, state auditor, has received a letter
from those who are interested in form
ing the new bank deposit insurance
company to the effect that they win
soon be able to file their articles of in
corporation for the approval of the audi
tor and the attorney general. The
names of the parties forming the COM
pany are withheld from publication at
this time for the reason that it might
embarrass them in getting the COM
pany organized. Some of the men in
terested are Iowa men of influence and
capital, while others Live outside the
state
Bankers and men in public life are
taking a great interest in the proposed
new company. The action of Oklahoma
and some other states in passing and
advocating state bank guarantee laws
has not failed to arouse some interest
in the subject in this state. There is
considerable prejudice against state
guarantee of deposits in Iowa among
both bankers and public officials, but
the idea of an insurance company is
met with considerable favor.
Under the Iowa law it will be neces-
sary for the insurance company to de-
post securities with the auditor Of
state which will further guarantee the
depositors of the bank. 1t is a fact
not often appreciated that since the
enactment of the law providing for in
surance companies depositing securit-
les with the state auditor there has not
been failure of an insurance company
in this state.
There have been failures of banks
occasionally. however. The only super
vision that state has over the banks is
regular intervals. 1t is proposed by the
new bank deposit insurance company
to have inspectors in the field constant
ly to examine the banks to which pol
ices are issued. The company will
operate on the same general principles
that fire insurance companies operate.
1t will not issue policies to banks that
seem too great risk. 1t is proposed
to make the company such that bank
will advertise as one of its strong
failures the fact that it is insured in
this company as a reinsurance to its
customers.
A private company can refuse risks on
the weake banks and thus the money re-
ceived from the strong banksk will not
have to go to payment of risks on the
weak banks whereas is the state should
guarantee the deposits. it would have to
guarantee weak and strong alike.
Following the meeting of the school
teachers in Des Moines this week the
farmers OF the country will hold the
center of the stage in Iowa First there
are the district horticultural meetings,
four of them being held in the four
quarters of the state this month. One
is being held at Oskaloosa beginning
today. Then comes the National Grange
to open in Des Moines Nov 10. This
will last q week. Following that there
will be the big corn exposition by the
Iowa Corn Growers Association which
will be held in the coliseum beginning
Nov. 30 to last week. Then in De-
cenher come the meetings of the State
Horticultural Society, the state agri-
cultural convention when directors of
the state department of agriculture are
elected and the state farmers institute.
These last three will be held at the
same time in the state house. Follow
ing these there will be the state poultry
show to be held in the new coliseum
For many years there has been an eff
fort to hold real state poultry show
in Dies Moines but the matter has been
handicapped by a lack of any place in
which to hold it. There are very sue
cessful district and county poultry
shows hello in the state. When the
state fair is held the time of the year
is such that all chickens are rnoulting
and this dropping of their feathers
spoils their appearance for dress parade
and exhibition purposes. BY Decem her
the new growth OF 1eatners mas come
and the poultry is in the finest kind of
condition for exhibition, For that reas-
on the state fair is handicapped in the
poultry exhibition and there is a real
demand for q state show that will show
poultry at its best. Furthermore many
If the finest breeders of chickens will
NOT show at state fair time because OF
the fact that their chickens then are
not in the best condition.
White Orpington hen Peggy for
which he is claimed to have refused
. $4,000, will be exhibited at the first