The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1909-12-14
TWO BANKS ARE
TAKEN m CHARGE
CONTINUED from PAGE one


+ The Tulsa Clearing House assoeia-
tion stated that had Norton kept his
word given to National Bank Exam
incr ". r Bryant. over the phone
that he would secure the paper. Tulsa
banks would have liquidated the in
stitutien The banks of Tulsa were
expecting the crisis for two days and
did all in their power to avert The
failule
While a number of smaller bank.
ing institutions IN the neighboring
towns will be affected by tho failure
% the Farmers National Of Tulsa,
HE seven other banks here are as
safe as possible and not the slightest
fear is felt for them either by deposit
ors or stockholders.
President Blaise said Motion Is
the cause Of The whole affair. He
promised to give us the needed Sc
curity on the paper he held and fall
90 TO show up | will Immediately
begin bankruptcy proceedings against
Norton aud reopen the bank
Statement by Haskell.
Governor Haskell brands as false
and absurd the statement given 10
The Associa I Press last night by
National BaL Examiner Bryan that
ihc failure Of the Farmers and Mer.
chants National bank at Tulsa WAS
due 10 tile fact that II was owned by
w. l.. Norton, the former president
81 The defunct Columbia Bank and
Trust company at oklahoma City,
and ttat the failure of the Columbia
concern brought on the failure of the
Tulsa bank
The governor and Bank Commis-
sloner Young assert that the Tulsa
failure is entirely a separate matter
and that Norton has not owned a
dollar Of the banks stock since last
September. The governor stated
4 that the Tulsa bank was heavily In
debted 10 the Columbia Bank and
Trust company and that it was par
TALLY the cause Of breaking the Co
umba bank. He asserts that the
Tact thai the Tulsa bank has acknowl
edged and partially paid debt O
$4,000 10 the Columbia Bank an,
T usl company proves that the fail
ure of the Oklahoma City bank ha,
nothing to do with the Tulsa banl
failure
The governor further stated tha
Norton was never other than a di
rector IN the bank and that T. d
Mari. now president of the Oklahoma
State bank Of Tulsa. and former
see etary Of the school land commits
sion who organized the Farmers ant
Merchants stale bank In 1901. solt
President Blaise the controlling stock
In the bank in 1907 He asserts thai
Blaise stlll owes Norton money ad
yanced 70 complete the purchase
The governor also stated that Nor
ton has not been director of the
bank since August last, and has not
owned a STARE OF stock since Sep
tember Is, last.
Norton. who was here In person
today to confer with the state bank
ing board verifics the statement Of
tie governor as to his having no con.
aection with the Tulsa bank since
last August lie also declared that
he was not an endorser upon any
CT the paper held In the Farmers
and Merchants bank aud that his only
object in asking the banking board
To release scma Of the securities
transfe red by him TO the state bank.
Ing board 10 insure the payment Of
creditors Of the Columbia Bank and
Trust company IN full was to help
out 7 csidcnt Blaise, who bad called
upon him TO assist IN making good
tie si0000f security demanded by
the Rational bank efaminer.
According to Governor Haskell the
Farmers and Merchants bank has
lcst sl50.00o in individual deposits
since IT'S renort to The national
comptroller Of currency on Norenr
her i6
State Bank Deposits Grow.
II Is stated that the consolidated
statement 81 the state banks at The
clOec of business on November rs
whieh will be made public tomorrow
by Bank Commissioner A NJ Young
viii sbnw the fastest increase in IN
dlvidual depntiis Of any statement
since lhe guaranty law has hccn III
nncraiirn. which demonstrates that
F iNf NNtti ~ if|f IfVVft W RhfttnNH7'
In lhe Oklahoma guaranty dcnosit
law has remaincd unshaken. despite
The failure of the Columbia Bank aud
Trust company which was. according
~ The blnk commissioner. much
larger hank than the concern which
failed at Tulsa yeste day The re
port rf the comptroller Of the cur
'rncv issued Yesterday on The condi
tion ef toe oklahoma National hanks
on November .. shows q loss In dc
pcsi;s Of apn oximatelv S700.00e
Governor Haskell will tomorrow
forward n Hnbllc letter 20 the conn
trcller Of the currency comnaring the
reports on The state and Nationa
hanks. IN Oklahoma and taking iht
National comptroller tn task TO- the
failure of The Tulsa bank
The Governor stated iodas that tAs
ss2S IS deposit of the state In the
Farmers and and Merchants bank o
Tulsa Is amply secured hv ailtedes
securities In the sum OF $40. .ie5 .SS.
"nr Thomas Eclectrie OIL is tht
best remedy for that. often fatal dis
ease Group. Has been used with sue