The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1909-05-03
Capital Stock Of Company Ii
Half q Million.
PERMISSION GRANTED.
Senator Curtis Secured a Con.
cession From Comptroller.
All the Inc0rporators Are Han.
sas National Bankers.

The national bankers of the state.
acting through their COMMITTEES and
on the strength of a concession
granted by the comptroller of the cur
rency and Attorney General Wicker
sham, today applied for and received
a charter for a bank depositors'
guaranty and surety company with a
capital stock of 100000. The fol-
lowing are the directors of the new
corporation: Z. E. Ames. J. r. Bur
row, Topeka; p. w. Goebel. Kansas
City; J. r. Lindberg. Pittsburg; willis
Westbrook. Peabody; G. S. Murphy,
Manhattan; c. s. Sawyer. Norton; ].
w. Bergman. Ashland; C. Q. Chand-
ler. Wichita; Scott Hopkins, Horton:
j. E. Jarvis. Winfield. Calvin Hood.
Emporia; ]. c. Morrow, Washington:
George 7. Tremble. Ellsworth; c. e.
ington; G. E. Snyder, Leavenworth:
L. L. Northrup, lola: .. M. Condor,
Oswego; J. T. Pringle. Burlingame;
J; B. Lower. Haddan: d. H Har-
rison. Downs: F. S. Larabee, STAFFORD;
W. F. Marks. Lawrence
Curtis Secures Concession.
After the return of Gov. Stubs,
Attorney General Jackson and Bank
Commissioner DoIley from Washing
ton recently, where they went to get
permission from the federal
authorities for the national banks to
guaranty law, that Attorney General
Wickersham handed down an opinion
to the effect that national banks
could not take part in this state
scheme or any other plan whatever
for the guaranty of their deposits.
The national bankers at this time
had plans under way for the
formation of an association to.
guarantee their deposits themselves by
means of an insurance or guaranty
association along the same lines that
they guarantee the money in their
vaults from burglary.
The ruling of the attorney general
checked their plans and left the nation
brethren or the state banks were pre-
pairing to come in under the state guar
anty PLAN. The national bankers then
sent committee to Washington to con-
fer with the comptroller and attorney
general in regard to plans for relief.
Chester I. Long and Congressman Ed
Madison took the matter in hand and
arranged and carried through a con-
ference with the federal officials that
RESULTED in a compromise whereby the
government will not oppose the plan OF
the bankers to themselves guarantee
their own depositors from loss.
At a recent meeting of the national
Dc1HkcIS ICSOAutioh VI lidHhS was
passed thanking Senators Curtis and
Long and Congressman Madison for
the important part they had played in
getting this concession. 1t is said that
Senator Curtis especially was very ac-
tive and successful in carrying out this
project
This master stroke of Curtis irons
| out the banking situation In Kansas to
a marked extent. Instead of the state
and national banks being at swords $
points over the fact that the former
enjoy the benefits Of state guaranty and
the latter are out in the cold, an equi-
table adjustment has been reached The
state banks can advertise state guar
anty and the national banks can point
with pride to a system OF guaranty of
deposits Just as safe and strong.
The banks are now happy: all classes
of depositors get protection. and large
part Of the glory. after all, goes to
Senator Charles e. Curtis.