The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1909-07-16
STAND BY THELAW
Kansas State Bankers Form Or.
ganizatiOn of Own.
Ready to Help in Enforcement
of Guaranty Plan.
HIT THE NATIONALS.
State Bankers Urged to Resist
Their Attacks.
C. N. PrOuty of Kansas City Is
Chosen President.
HIT THE NATIONALS.

President-C. N. Prouty, State
Bank of Kansas City.
First vice president-William Mac
ferran, Topeka state bank.
Second vice president-George w.
Robinson, Merchants State bank of
Wichita.
Secretary-W. Z. Wilson, Farmers
state bank of Washington.
Treasurer-F. G. Bergen, State
bank OF Summerfeld.
The Kansas state bankers last
night organized by elect1ng the above
officers.
There was decided opposition to
making an organization at this time
the vote standing 46 for to 80 against.
The opposition came from those who
feared it would result in the disrup-
ton of the State Bankers association.
The meeting was called to order by
VIM Macferran of Topeka who in a
short address outlined the purposes
of the meeting. He said:
You have been called together
because matters of vital Importance
to the state bankers of Kansas are
reaching a climax. The facts are,
that matters of vital Importance to
your banks have been handled by
others, not by you, for the past two
years, eliminating at the session of
the legislature of 1908 and 1909.
believe you hardly realized the great
Importance that the amendments
made to the banking law at that seS-
sion, and the passing of the guaranty
law, meant to your institutions; or
some of you would have been here
last winter. That the work of that
legislature means almost revolution
in the banking business of this state,
one can hardly deny. L do not wish
in the slightest to blame you for any
lack of realization of the situation.
The Kansas Bankers association of
which you are members, and whose
duty l think we had supposed was to
notify you in such emergencies
openly disavowed at Wichita, through
its secretary, responsibility for the
appointment of single committee
on the guaranty matter, or a single
official action in reference to the
same.
accepting the secretary's state,
ment, then the natural conclusion is
that the association so far as the state
banker is. concerned has been weighed
in the balance and found wanting
TT is needless for me to suggest to
you that our guaranty law will be a
subject of attack by every legislature
in the future. To look after our
fences at those times and others, and
to suggest wise amendments ourselves
is only prudent.
II do not think the principles un-
derlying the guaranty law are new
though certainly their application to
bank deposits is. It's success depends
entirely upon the states supervision
and the enforcement of the banking
law.
LAS the solvent banks will have to
pay all losses. we as state bankers are
deeply interested in the supervision
and enforcement of these laws.
Through an association such as we
propose to form today, we can be of
material assistance to. our state ad-
ministration, and a protection to our
selves.
"a strong association of state bank
ers only and free from the domination
of hostile influences, is an absolute
necessity from this time on.
Through the Vaccinations of 9TH
ers, the depositors of Kansas have
been given the impression that the
bankers are opposed to giving them
protection. 1 do not believe the state
bankers of Kansas need rest under
this imputation. [ know we believe
that nothing is too good for the de-
positors of our banks. We should as
sure them that the law is satisfactory,
the protection ample, and that they
are justly entitled to it. We should
long ago have repudiated a system
that gave one depositor more protec-
ton than another.
LAS a banker I greet you. as citi-
zen of Topeka, welcome you to the