East Oregonian : E.O. (Pendleton, OR) 1888-current, 1909-06-25

some of the present day methods, but
such bank need fear no runs, pam
les, or failures, but be n Gibraltar,
and such rock that it will event
ually gather moss by reason of its
age and stability.
"As an illustration of the truthful
ness of my statements, we need go
back no further than the fall of 1907,
when we all experienced somewhat
strenuous times in the banking busi-
ness. | will not attempt to discuss
any of the features of those times,
the result of which was but a slow
ing up of business and general TAX
ing of stock, yet the banks of Ore
gon whose regulations We're based on
conservative lines, that aided legiti-
mate enterprise without financing it.,
that adhered strictly to the rule Of
avoiding. everything that had the
color of speculation, came through
the difficulty with increased deposits,
increased confidence of their depos-
itors, and increased power for doing
good in their own communities.
Would Revise Laws.
There is but one suggestion | de-
sire TO make in the matter Of local
| banking laws, and that is the system
of carrying out its provisions Every
bank, whether national, state, or pri-
vate, should be frequently examined
nv Officers pnno hla Af Ii,
ligent examinations, men long on
ability in that line, who hold their
positions not because of a political
pull. l believe that our banking
laws should be administered by a
commission, divorced as far as pos
sible from politics. and wh2 in the
appointing of bank examiners. look
only to the goods the applicant can
deliver in return for his employment.
his ability in that line, and not be-
cause he is closely related TO some
one dangerously powerful in some po-
litical party's councils.
"Our present taxation laws. as they
relate to the banking business, are
d-fashioned unjust and unfair to
this important branch of the states
industries, and this subject should
receive the earnest attention of this
association.
Wants Uniform Laws,
81 would call your attention TO
what is either fact or a remark
able coincidence-that practically
every state having laws for the reg
ulation of the banking business issues
calls for statements showing the
condition of all state banks and trust
companies for the same day as that
designated by the comptroller of the
currency for national banks, and the
question therefore suggests ITSELF
why not provide for uniform banking
laws in all the states, | suggest this
as something for your discussion and
possible action.
Another suggestion l wish to
make, fellow bankers, is the organ
ization of stockholders for the best
interests of the institution. Too
many stockholders regard their hold
ings in bank as matters of invest
ment only, leaving to the officers of
the institution the entire responsible
ity. This is not right. Every stock
holder is a partner in the business.
and should be made to appreciate the
fact, and to encourage confidence in
his bank among all his friends and
acquaintances. Stockholders too Of
ten expect too much of the directors
and officers and are willing to do too
little themselves They do not real
ize that in this matter they are work.
ing for themselves, and that it should
be matter of pride to help make
their bank the best and strongest in
the community, and in most instan-
ces it is largely the fault of the Of
ficers in not extending their organ
i2ation to include everybody connect
ed with the Observation-Disclosures
stockholders, depositors, borrowers,
and all the personal following of
each one, for there is no one who
cannot help a bank If he looks for
the opportunity, and takes advan-
take of 1t when it comes.
There are many other suggestions
l should like to make, but the secre-
tary has prepared a very interesting
program, which will require the re-
mainder of our time. There are a
number Of counter-attactions in this
city which our members will want to
enjoy, after this session adjourns.
I'm conclusion, I want to publicly
express my grateful thanks to the
vice president and secretary and 9TH