The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1909-03-29
SENATORS
EXPECT
ADVERSE
OPINION


Washington. b. d. March Antl.I
clnntng 4 decision from the "" aey
general adverse 70 the nAtio..~, bank
efs. Senator Curtis has lnA Vduced o
bill In The senate which provides that
naiional banks may avail themselves
of a guaranty law passed by tho state
In which they arc located provided !
majority Of the stockholders ask thai
such actien hc sakcn 4 similar bill
was introduced IN the senate hy Sen
ator Gore Al lie last regular session
And these bills have becu introduced
in boh instances at tho suggestion
o, national bankers who admit that
lhh Guaranty law hurla tho national
hunks which aren rohlblted from TAX
inE the gliaranier.
From Kansas has come the de-
mtnd that tho attorney gencral shall
elyo Ar opinion whether hall0aa
banks may avail themselves Of lhc
nu hnlages OF q state gaa,an.g Jaw
and retain thcig national banE cAuf
lcra. FORMER Attorney General Bon;
pario pasyed upon this seo.e Ques.
tim. but under very different cnneis
tians, political and otherwise
Hi decision was adverse a. ra.
tl9an ranks and wns based pnan the
IClla'l. ma bank law asa case ~ a0lni
Tne (tuslon against The ok'NNtall
ankera came ct d time yiidn the
ba.k skEaranly law Yves pAlionel
aall lea sapc when Oklahoms wher
tllA lew vas arsl put into aiaff, gas
Iia, particular disGevor with tho admin'
lsgratlon
There Is noe new attorney gen
erai. the demand comes from repub.
Ilcau state at The Instance Of Re-
publican senator and upon 9 bank
iaw that differs IN some essential
points from tho Oklahoma law upon
which Bonaparle passed
The Kansas legislature haf lust
passed a bank guaranty. law, ans aet
Ing upon the urgent reques of The
ndannal bankers of that agale Sen.
|atnr Curtis he's asked the comOtrollel
Of tae currency FOR decision whesh.
ef OF not the Kansas nationrl Aanks
|mhy evnil themselves Is the dement's
arlalng from such Jaw The comp
iroller IiAs passed the mel'sr IN 10
Attorney General Wlckersham f1r q
decision and one win nro5aNy ht
Forthcoming within lew dafh
This Is matter Of suplemc lrnorl
aucf 10 the pa;lunnl aanks ,hronsh-
out the tiniaa States eg'e Eufts
III half dozen dliferess plcs Aate
considered guaranty bank laws me
past wlnte and some have passed
such 4 law Experience IN Oklahoma
has proved that unless the national
hanhs can take advantage Of such q
law. they are placed at a very great
disadvantage, and while national hank
ers have almost unanimously opposed
such legislation. they Wenl a chance
Itd come 10 and get The benefits i
there are ANY, when such state iaw
a nassed, or et least 20 protect theHi'
selves TBls Is tEn reason whf kaa'
sas has put The malteg ID 10 the at'
I4elney general slght & thee hssln'
Ming.
The decision Of Attorney leaeftl
3onanarle wis based Upon court De-
tis.ons. which held that one Sank
could TO, guaranty lev that WesN'
| nike the Oklahoma law. and VIII ~.
80 include national banks The OK.
liahnmg law permitted national baiss
| tn come III. but the decisl . d illc
laNnrney general and Tho coapilull y
Of The currency Kept them out So The
lpnly alternative Was f1r g. national
lbanhs to hold al00f frum NE lstaf'
InptA plan. which proved 30 az. %
Ite Give up their aeilraal uhallufs aal
ihecome state banks. IN Oklahoma "
Iatlonal hanka have done i;iA
The Kansas law differs froN lha
IOkmh0ma law and Tie pr9wael bani
flaws considered By Texas Solih Da
lkota. New York. Nebraska end oihel
state leglplalafes differ from htlll
the Kansas end Oklahoma plEn1 u
fact 0klahoma whlch pioneered th'
seuarantg law has found u ndYlAabp
i ID change lts law In s0lae dett'ls AZ
ter a years experience .tF laslsh'
tufe has Just amended tie lew - lha
ltha Assessment on the capital stool
.of ~ Guaranteed baats cannot "a
coed Z psr cent IN any enc yeaf
4 The Kansas law makes n optlona
with tie state banks whether thfl
ltake me guarantee Thes may femnil
J, staie banks aud under certain stat
superglalon and siill not become Hnal
anteed banks shls Is not poaalpl'
ljn Oklahoma. Every bank opefatlul
under state charter Is subject q
,he guarantee llehllltles and benefits
rhe Kansas las limits the aaaenauien
lhat mas be ievied for suarAntY puF
posea
When Ioch vas governor Of Kan
eas he callcA j special session q ~
Legislature % pess a hank iw SIM
, ,liar to tie one Oklahoma had pissed
immediately after The panic q 1907
Thls Was dlsne hefpuse the Guaf
hleaa baNhh of Oklah0sna we're lfa~
llng dap0H|is utIi 81 the unguapnfeei
banks 6s Southern Kansas aud hnf'
conllauad to 10 R9 ever since e
certain ekienl. AL that lime ther
was II ofaanIzed ilghl made hy 20
Inas|aHH hanha against ihe pfapoass
llaw Ia karNaa and the defeated 81
lbltl Ii lhe special seeaion N the ~
u|aE session The blli was passedl IN
] Inallunsl banks have opposed sueh
!. law 4 every state where ! nes bee