Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1913-12-10
HUNDREDS OF STATE Banners
HELD \ CONlENTION IN
CAPITAL NESTERDNN
acted UNDER new LAW
Council VIII Submit Three Bankers To
Governor, One of Whom VIII he
State Bank Commissioner.

cial Eight new members of the
executive council Of the state bankers
association, who will select the names
Of three bankers TO be submitted Ia
the governor one OF whom he Will
select as the state bank commissioner
according to the new law were named
yesterday AT convention attended by
state bankers from all parts OF Okla.
homa This council viii select Off.
GERS for the state association at a lat.
er date.
The matter of changing oI amend.
ing the present constitution and by
laws was left to a committee which
win report at the next meeting of the
association,
council elected are: H. II. Anderson.
Gotebo A. T.. Stephenson, Enid j. b.
Charles. stroud; Collins Campbell, Ok.
lahoma City; r. Il. Thompson, Viulta,
II, A. McCauley Sapulpa; H. Hern,
stein Valiant; Melvin Cornish Nc,
Alester.
BY virtue Of the new banking law
passed by the last legislature, the as
ISOLATION was organized for the bene-
tit OF the state bankers in that they
shall have more to do with the en-
forCement of the bank guaranty law,
President J. J. Gerlach Of the associa
ton impressed II strongly on the
members that success must depend
upon the united effort OF the mem
bers and urged more cooperation on
the part OF the members. Headquart-
ers should be established at the capi-
tai city, he said, where some one in
charge should be able to give infor-
nation OF whatever nature sought by
the bankers; that the association, with
such headquarters should be in part Il
clearing house for the state bankers.
The guaranty deposit system was
sweeping the country, he said, and
that there Is a possibility OF II getting
into the national banks Of the coun-
try was evidenced when an attempt
is being made to insert the guaranty
feature In the new currency measure
now before congress.
w r. Samuels, one OF the state
bank examiners, thought by all means
the association should have secre-
tary who, in addition to his other du-
ties, should conduct the educational
features OF the guaranty plan and SEQ
that the people were fully Informed
of the merits Of the system.
In the matter Of examining banks
Mr.. Samuels urged there could not be
too much care taken. There probably
was tendency to try to get through
too quick, which required fast work,
and that always worked opposite to
the best interests OF the bank and the
public That an examiner could not
inspect more than three banks a week
and do 1t right he said. and addition
al examiners should be provided for.
Three examinations a year would be
better than under the present condi-
tions, he thought. A ma ajority of the
state banks in the state were in splen-
did condition. and it is a pleasure to
examine many Of them. he said. while
with some IL was necessary TO watch
them more closely
Relative to the holding Of public
money, Mr Samuels said that those
banks in the best condition were
banks that had no public money.
Banks having an overstock Of such
resources do not use enough conser-
vatism In handling it, he thought. and
the less they used the better
There will be eight members OF the
council Of fifteen elected at this meet
ing. Three members Of the council
have disqualified themselves to hold
the position. and five terms have eX-
pircd. Tn council will then, before
the meeting for next year. select three
names to be submitted to the governor
from which the bank commissioner
may be selected. The latters term
will begin as with other state officers.
A. T. Stephenson of Enid, president
of the Central State bank OF that city,
speaking on the bank guaranty law,
and some OF the effects of II, said that
the greatest difficulty right now was
that many of the state bankers allow
ed themselves to become discouraged.
that big deficiency and llenty OF
Knockers had secured their attention
to the exclusion Of the many good
things about the guaranty plan. 1T
has taken tne pup oul ol many VI NO
he said He declared they should be
protecting the guaranty plan rather
than witness its arralgnment.
According to best information he
was able to secure. there are about l6-
million In deposits Of Oklahoma state
banks now with national banks, six
million Of that with national hanks in
Oklahoma, and the balance H. Kansas,
Missouri and arkansas national banks.
on the other hand Oklahoma state
banks only had about two million on
deposit in national banks In the state.
I'VE don't think the national banks
are being fair with us state banlis'~
declared Mr.. Stephenson.
There should he more cooperation
between s.ate bankers. said MIR. Ste
phenson state banks should confine
deposits OF all their reserves with
state banks II this were done II would
reduce the cost to each bank what II
requires to maintain the guaranty