The Oklahoma City times. [volume] (Oklahoma City, Okla.) 1908-1984, 1914-12-14
CLAIM BANKING
LAW NOT VALID
II Williams Does Not Appoint
Associations Choice his
Action viii Be Legal.
COMMISSION JOB Is GOSSIP

II Is possible that the full force
and power Of the Oklahoma constitu.
ton procluding an invasion Of It's
rights by any act OF the legislature
could De brought out In the matter of
the selection of the next banking com
missioner IL has Nbeen the gossip
that following the action Of the bank
ers' association few days ago In not
nominating certain know aspirants for
the place that Governor elect Williams
might not name anyone Of the three
suggested but let the present incum-
bent hold over and later try TO have
the present legislative provision re-
pealed The latter proposition will
not be necessary, II Is now claimed, II
the constitution has anything to do In
sustaining the prerOgauves Of the
chief executive.
That the present banking law, pass
ed at last session Of the Legislature,
is obviously In conflict with the con
Rtitutlon, is now claimed, and there
seems ground for such contention.
With this situation In view Governor
elect Williams does not have to bs
guided by the action Of the bankers
executive council In naming the bank
commissioner, but may name whom he
plenscs Tht this could be done Ii
not denied
Law Not Followed.
II n well established condition
that the legislature cannot enact a
law IN conflict with the constitution,
nor can the constitution be amended
without submitting such an amend
ment TO vote Of the people. This
was not done In the case Of the bank.
ing law now In force, and which seeks
to confer authority upon council
composed OF bankers 10 guide the gov
crnor In the selection Of bank com
missioner The constitution relative
to the banking department says, In
section /, article fourteen:
General laws shall he enacted by
the legislature providing for the Great
Ing Of II banking department, to b"
under the control Of bank commiS
aioner. who shall be- appointed by the
governor for term Of four years. by
and with the consent Of the senate,
with sufficient power and authority
TO regulate and control all state banks,
loan, trust and guaranty companies,
under laws which shall provide FOR
the protection OF depOsitors and In
divldual stockholders"
1t viii be the duty Of the incoming
governor to name the bank commits
sioner to succeed J D. Lankford, ap-
pointed 10y Governor Crucc four years
ago. This is also the first time tue
new law will he tried out In that
particular.
While the new Law practically
placed the regulation OF the state
banks and the management Of the
guaranty fund In the hands VI the
state bankers association, II Is claim.
ed this could only be done to the ex.
tent " that which would not conflict
with the powers Of the governor and
bank commissioner conferred upon
them by the constitution, and which
could not be oyerridden by any leg
lSlntive enactment.
n the contingencies cited bring the
situation to an issue n is possible
that the bankers will again get busy
during the coming legislature AMI
seek to amend the constitution In ac-
cord with the present law. Insofar
as the naming Of the bank commits.
siOner and the banking board It Is he
liryed the present law Is very agreea
hlp to the bankers a. they themselves
nscked for H. There are other Feat,
ures Of the banking laws, how YER
they would like to have changed, es'
peclally the provisions Of the guaran
~ system. But II II he found thnt
their law regarding the naming OF
banking commissioner IL In jeopardy
II ia thought they will try to have
this feature changed some way
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