Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1917-11-11

| modest letters that heralded the little
enterprise to the business world OF
this seciion-still distinct, tho it's a
bit weather-b beaten, for IL has been "a
years since the sign was put up.
1t was a two-story stone structure
and was constructed at a cost of four
or five thousand dollars. Colley was
the organizer and first president;
c. w. Brown was cashier. He Is now
In California. j. A. Forsythe. another
cattle and stock man, was vice-presi-
| dent. These three virtually owned
the bank, which was started the year
following the opening of the Chero-
kee strip.
Along about 80. after the young
institution had established itself, the
management decided to convert II
into national bank. The memorable
panic of '93 had been particularly
disastrous for small state banks.
thousands having been forced to the
wall rhru runs on them by the public
1t was fel, that under the federal
banking act the young bank would
have greater security from such
| frishts and avoid runs by the people.
Changed the Name.
SO fhe Tulsa Banking company"
passed out of existence and was sue
| ceeded by The First National Bank
of Tllsa." The capital was Increased
to $4,000 But il wasn't needed
said Mr.. Colley. The government re-
quired it, however, in order for a
charter to he issued W. +. Halsell
now OF Kansas City. then living at
Ninita, became president of the new
bank and Mr.. Colley denoted himself
to the cashiership. Two of the new
directors added at this time were Oil
En l.xta nj \ nk,x,
Among the stockholders now were
Iialsey. Bagby. Colley William Little
w. o. Hall, j. Forsythe, Lewis Apple
by, Mrs. Louise Clinton, mother of
Lee Clinton, now vice-presidcnt of the
Union National, and of DR.. Fred S
Clinton and Henry Calhoun.
The bank continued on its success,
full career five gears under the sole
management of Mr.. Cooley. who ran
the institution and virtually did all
the work
First Big Building.
Some time about 1901 Clifton George
Of oklahoma City came to Tulsa and
with number of associates. organized
another-bank and a short time later
bought the First National and built
the present building at the corner of
Second and Main, which became the
itoile VI tIlt ANdNlOTui ttIlu mas
been its home ever since, the bank
started by George and associates hav-
ing been merged into the First Ma
tional when they purchased II.
Mr.. Colley and his associates re-
tired and James McBirney. now presi.
dent of the National Bank of Com
merce, had become assistant cashier
with Colley in the old First National,
but Left IT when It sold out to George.
EaclS In those days the old Tulsa
Banking company and its successor,
the First National, became important
factors in the commercial and busl-
ness life of the town, which then had
81 population of only few hundred.
Previ to the banks organization
the merchants had been the public's
bankers, handling and keeping the
peoples money. They virtually con-
Quoted their business on other peo-
pies resources. said Mr.. Colley.
The only railroad at that time that
entered Tulsa was the Frisco. Mr..
Colley related how he and other enter
prising citizens purchased strip of
ground thru the village and donated
1t to the Katy to get>it to come into
the city.
Interest Was Higher.
II suppose you got pretty interest
rate in those days" suggested The
World man.
Eyes, but not much more. as a rule,
than banks charge today" said Mr..
Colley. "Our rate was from to 10
per cent. tho I've charged s. for 500
three months many times, and some
times got as high as 20 and "a per
cent. We were then operating under
the old Arkansas laws
Wasn't there considerable hazard
in banking here then?"
Not any more than there Is now"
said the veteran banker. II recall n
time when | took $4,000 In a satchel
over to Bartles' store, now Bartles-
vile. The government was making a
payment to Indians and it was done
by warrants. The Indians. of course
wanted cash, so I concluded to pick
up some easy money by going over
and cashing their warrants | went
thru the country and made the trip
without incident. I wouldn't do that
now,' he added sententiously.
But by the time / reached Bartles-
vile the payment had been made and
the Indians had gone home or gotten
their warrants cashed by some one
else, so I had my trip for nothing"
Tho still comparatively young in
years and particularly young in spirit
being on the sunny side of 60-Mr
Colley believes those old times were
the best and he likes to go back to
them and live them over again.
Feels "Hcmmcd In.'
'"rulss has gotten so big and there
are so many people here now that 7
feel lost when ! go downtown" he
sighed. "And ! feel cramped and
in among all these tall build