The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1910-01-10
new BANKS ORGANIZED
TO THE NUMBER or 124
Total Increase h Capital Stock
Was Over Three Million
Dollars

AS seen by A. NJ Young, state
bank commissioner, 1909 was high
ly prosperous one for Oklahoma.
Among his figures are the following
New banks have been O. ganized
under the regu'ati N OF his depart
ment under the bank guaranty law to
the number Of 12i. Of which - we're
new banks entirely and SO which
surrendered their National charter.
The total increase of capital stock of
stale banks during the yea has been
$3,04S,5o0 divided into capital raid
in OF new state banks. $780,. sos;
sut cfizcd increase in capital stock
$329,S0O. Thirty.ona state banks
haze increased their capita! stock
during the year One has decreased.
Fourteen state banks have volun-
tarilv liqui' ted or had charters
which exp. I'd and were not renew.
ed. Two banks have fai'ed. the Co.
lumbia Bank and Trust company and
the First State bank of Kiefcr.
Two banks have nationalized. one
at Oklahoma City and one at Enid
both recently, while fifty-two Nation.
al banks have converted to state in.
situtions.
There were 67l state banks with a
total caniial stock Of approximately
Sl.000000. a surplus OF approximate
ly $1.O0} ,00e. undecided profits OF ap.
proximate'v s1.750.0C0 making a
total OF $l2 100000 invested in state
banks in Oklahoma. These banks
are now car yine individual deposits
of more than $5OOOO,0C0. The total
assets or resources Of state banks
now go over the $70.Go0.00O mark.
which is an increase in the year Of
approximately s22OOO.00e. During
the year individual deposits increas-
ed approximately s1S,C0O,0O0. The last
exact figures showing an inc ease
from s35.16O.713 February 5, 1869 to
Sl4,775, 4S3 November 16, 1909. The
average reserve held by the state
banks has steadily grown until it has
reached the percentage of 49.7. The
average percentage OF reserve he'd Is
probably unsu passed in the United
States. 1t has been tiis high reserve
that has kept Oklahoma banks steady,
and which, to great extent, has
caused the unprecedented record OF
over 500 banks and $50,000,000 de-
posits, with only two failures within
he year.
Bank Commissioners labors.
"The figures above given. in to.
tails. are large to the average man.
md would be even la ger If he re-
solved them into their individual
'ums. looking at each separate bank
and its accounts separately accord
'ro II the banking department
This is. however what the bank
commissioner Is called upon daily TO
10. Each separate bank Is to him
= problem to be studied. The organ.
cation of every new bank requires
careful consideration from the bank
,ommissioner Not only must he
study the location where it Is desired
20 put new bank, with a view to
Areventing too much competition
With good business banking but he
1ust consider the adequacy of cap
tai stock proposed. the preliminary
beginnings Of the new bank. and the
{ haracter and personnel of the men
proposed 10 run it. Then after the
bank Is organized II is kent under
he most careful consideration, and
Iubjected to regular examination by
expert bank examiners. Even new
'ets Of books are sometimes made
or banks. and often inexperienced
'cokkeepers are instructed as to their
lutics.
In the bank commissioners Office
S kept record of every bank in the
state. its Office and its organiza-
tiCn.
"To attend to all these duties the
ommixsioncr is allowed eight bank
examiners. J P. Whatley of Chick
sha, d. w Watson of McAlester,
z. NJ Garnett Of Nowata Geo ge L..
Wilson Of Enid, w. H. Feed OF Ok.
ahoma CITY. A. w Anderson of Ok
ahoma City. w. o. Ernest of Thorn
S. Chsries Beinsr OF Davenport
leyander Richmond of Muskogee Is
he banking auditor, his duties. how