The Forrest City times., 1914-04-17
ARKANSAS BANK
 LAWS APPROVED
ANNUAL MEETING OF THE ARK. ANSAS BANKERS ASsociA-
 TON THIS WEEK.
REGULATIONS ARE REQUIRED
Strict Compliance With the Law Viii Prevent Failures and Bring
 Financial Confidence.


 Little Rock.-'The lax administra tion of state banking laws and the na- tional banking law, together with an- tagonism to supervision and lack of cooperation upon the part of the bank CTS. tend to produce failures, and fail ures destroy confidence and increase and cultivate the demand for deposit guaranty.
 "A strict compliance with the proyis- sions of the present banking law: an earnest cooperation with the Banking Department. coupled with an honesty of purpose in the performance of duty, will prevent failures, and when fail. ures cease. We need not and will not, have deposit guaranty"
 This was the text of the address de livered at the opening of the twenty fourth annual convention of the Ark ansas Bankers Association Tuesday morning, by the president of the or ganization. J. D. Covey, who is also Deputy State Bank Commissioner.
 One of the notable events of the session was the appearance of Hon. w. F. McCombs of New York, National Democratic chairman, native Arkan- san whose home was formerly at Ham, burg. Mir. McCombs was the guest of honor at the banquet Tuesday night, delivering the principal address, his subject being, Government and Busi- ness" The toastmaster was Hon w. H. Martin, U. S. District Attorney for the Eastern District of Arkansas Other speakers were: w. B. Mann of Mariana. "The Farmer and the Banks, Joys vs. Glooms;" Rev. H. N. Hyde Littl" Rock. "A Mans Man for A That, Dr. J. l.. Greene, superintend- ent of the State Hospital for Nervous Diseases, Nervous diseases-Pigs vs Men"
 Differing from many other sessions of the association, more attention was given this time to questions of CO., operative industry and commerce, and the speakers discussed such subjects as Agricultural Development and Edu- cation, Cattle Raising, Meat Packing, the Income Tax. Good Roads and the Negotiable Instruments law.
 State Bank Commissioner John NJ. Davis reported that his department has found the banks of the state in much better condition than he had expected In the establishment of the new de partment there are many details to work out, and this has been rendered more difficult because heretofore there have been no exam etions, su- pervison, or limitations whatever on the state banks.
 The many acts, rules and regula- tons of the department in the admins tration of the law will at all times have velvet covering" said President Gov ey in his annual address, but if in- spected closely they will be found to contain the necessary steel lining. But be assured that every ruling and every regulation promulgated by the depart ment is made for the purpose of strengthening your bank, thereby in creasing its stability, efficiency and usefulness, to the end that it may per form the function and fully measure up to the standard of perfection, original ly designed, and so much desired. by the people"
 Financial legislation by Congress was approved by the association, the general sentiment apparently being re 1 flected in the words of President ] Covey, who said
 Tt is evident that we are growing 1 beyond the period of financial disturb ances. The new Federal Reserve Act, soon to be promulgated and put into effective operation by a Federal Re. serve Board will To doubt give us greater protection and security from if nancial disturbances by establishing a system of credits which will enable even our smaller banks to readily and easily convert certain of their assets into cash, thus lending to our currency that elasticity so much and so long desired
 Grand Lodge K. of H.