The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1909-08-03
READY TO BATTLE
Mr.. DOlley Accepts Gauge Of
Missouri Bankers.
Organizing to Fight the Kansas
Guaranty Law.
MAY SEVER RELATIONS
RumOr That Measures of Re-
taliation May BE Adopted.
Action Is Called Outrageous by
the Local Officials.

That the banks of Kansas City, Mis-
souri,, are combining forces to fight the
Kansas guaranty law and contributing &
good heavy amounts to the same is the
information just received by Bank
Commissioner DolIey. Their plan is to
join with the Kansas bankers who are
| opposed to the law and try to stamp
the law out of existence by tahng it
into the courts. Some of the banks in
Kansas City have contributed as high
as $500 for the cause and several Kan
sas banks have forwarded as much.
Mr.. DolIey was displeased with the
action of the Missouri bankers this
morning and stated that the Kansas
opposing force should be allowed to
fight their own battles. He said: 1T
looks as though the Kansas City banks
are going out of their way to break
down laws in another state. 1 can
imagine the howl which would be
raised in Missouri if a fund should be
raised in Kansas to break down one of
their laws
The new guaranty law is for the
bankers and people of Kansas to set
tle-it was made by them and if they
desire to break it, it is their own bat
tie. That i'll feeling between the state
banks and the Kansas City banks is
sure to follow such a move is the opin-
ion of the state officials.
One of the prominent Topeka bank
ers has stated that the move on the
to sever diplomatic relations between
themselves and the Kansas banking
department and also the 800 state
banks which have showed their favor
to the new law. These diplomatic
relations are of untold value to the
banks of Kansas City.
II is also given out at the state house
that the Kansas bankers against the
law have not only contributed toward
a fund to fight the proposition but they
have hired attorneys to represent them.
This list of attorneys include several of
the big men of the state and dope
has it that Bale Waggener, Senator
Chester l. Long. J. t. Pringle of Bur
Iingame and Judge Charles E. Lobdell
of Larned are under contract. It is
also said that the Lincoln attorney who
was instrumental in knocking out the
law in Nebraska is included in the list
of notabIes. It is true that the force
will be strong and powerful.
when the fight comes we will be
ready for it," said Bank Commissioner
Dolley this morning. He said that the
possible to bring the national banks Of
the state into some insurance plan on
the same basis IS the state banks and
that no one had been favored. Ml
Dolley also stated that since the new
law it has developed that there will be
a big kick on whatever course is taken
and some people are disposed to bring
up a scrap on anything that might be
done.
Mr.. Dolley made an important state
ment when he said that he was ready
at this time to accept the application
of any national bank to participate IN
the state guaranty law. This an
nouncement came as a big surprise in
banking circles. In regard to the rul-
ing the bank commissioner said:
TT has been handed down by the
comptroller of the currency that a
banks stockholders can name a trustee
to take out insurance for the banks de-
posits 1 am perfectly willing to allow
that trustee to take out the insurance
and the applications will be received at
once. In case of a failure the federal
government can clear up the affairs of
the bank
There are now about fifty Kansas
state banks working under the guaran-
tv law 1t is fully expected that over
one hundred will be admitted before
any trouble arises in the courts. 1t has
been stated that if an injunction was
served the insurance would not be de-
stroyed Only the actions of the future
would be effected-not those of the
past.