The Harrison times., 1914-04-18
ARKANSAS BANK
LAWS APPROVED
ANNUAL MEETING OF THE ARK
ANsAs BANKERS AssoclA-
TloN THIS WEEK.
REGULATIONS ARE REQUIRED
Strict Compliance With the Law VII
Prevent Failures and Bring
Financial Confidence.
w..,s,r N.vsnaper Union News Service.

western Newspaper Union News Service.
Little Rock--"The lax adminlstra
ton of state banking laws and the ma
tional banking law, together with an
tagonism to supervision and a lack OF
cooperation upon the part Of the bank
ers, tend to produce failures, and fall
ures destroy confidence and increase
and cultivate the demand for deposit
guaranty.
"A strict compliance with the proyis-
Blons 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 fall
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, ]. 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, a native Arkan'
san whose home was formerly at Ham
burg. Mr.. 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.
II. 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. II. ~ Hyde,
Little Rock, "a Mans Man for A
That" DR.. ]. l. Greene, superntend'
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 10 questions OF co
operative industry and commerce. and
the speakers discussed such subjects
M 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 u much
,etter 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 examinations su'
perylslon, or limitations whatever on
the state banks,
"rhe many acts, rules and regula'
tons OF the department In the admins
traton OF the law will NJ all times have
velvet covering" said President Gov
ey IN his annual address, "but II IN
spected closely they viii be found to
contain the necessary steel lining But
DC assured that every ruling and every
regulation promulgated by the depart
mont IA made for the purpose Of
strengthening your bank thereby IN
oreaelng lts stability, efficiency and
usefulness, TO tho end that II may per
form the function and fully measure up
10 the standard OF perfection, original.
ly designed, and 30 much desired by
the people"
Financial legislation by Congress
was approved by the association, the
general sentiment apparently being re.
fleced in the words OF President
Coyoy who said
ut 10 evident that we are growing
beyond the period Of financial disturb.
ances, The new Federal Reserve Act,
soon TO be promulgated and put into
effective operation by n Federal Re
serve Board viii no doubt give us
greater protection and seeurty from a'
naneal disturbances by establishing q
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 20 much and 10 long
desired