Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1917-11-11
A Story of Early Banking
in Mountains of Tennessee

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ty's money, hence the name. and all
county revenues and disbursements 20
thru his office.
Colonel Flte mad the only iron safe
In the town II was n large one and
seemed to the unsophisticated country
men as IL loomed from n corner OF
his office at the courthouse as Inn
penetrable as one OF the Exchange
Nationals huge vaults with their II
ton doors appear now.
One day another old farmer visited
Colonel F'ite and wanted the privilege
OF placing his money In the safe. lie
had between $4,000 and 5000.
"I tried 10 dissuade him from leaV-
ing his money with me" said Colonel
FTte, "and advised him TO lend II out
on good land, but he wouldn't agree
10 IT, so I took his money. Now,
snid |, when you want this back
want you To give weeks notice at
least, for / might send some OF II 70
Nashville banks lie agreed to do 40.
"Hardly had he gone from my office
when loaned nearly the whole
amount 60 the owner of a flour mill
right in his nelghborhood at 10 per
cent interest. | kept his money nearly
four years and one day the old man
sent a nelghbor in TO see men TO tell
me he would be In town the following
Monday and would want his money.
"He gave me only four days mo-
| tice and | had to hustle around con-
siderahly to scrape enough to pay him,
| for all my money as we'll IA his own
was working But | got II and when
he came in / was ready.
Il locked the door and taking a
rack of bills from the safe, sat down
at n table and began counting It. l
paid him off in big bills and after |
had finished began counting out an
other pile OF s1,500>in greenbacks.
had prepared for the occasion by Sc
curing as many 81 and 81 denomina-
lions as I could get hold OF for my in
terest pile. When | got thru counting
this I showed his money across the
table to him.
"'And this Is mine ] said. at the
same time extending my arms around
the big bulk OF 81 and So bills before
me-which was a much larger pile
than his own. had figured up the
interest / had made off his money
and It amounted to about 81, 500. 81
I determined to teach him how foolish
he had been IN not keeping his money
and Lending II out himself
IT don't understand YOU" said tho
Ola man, ana NOlonel f1te Tcplltt
"Well, there is the amount yor
brought me to keep. There Is ever,
dollar Of your money. I tried to per
suade you to lend II out on safe Sc
curity but you were afraid TO trus
your neighbors. so loaned II out T.
them myself and this Is what II made
mel"
well air, you should have seen tn,
expression on the old mans face" sale
Colonel Fite. laughing. "He looked a
his pile and then at mine and thei
said. Colonel. don't think you arr
hardly fair. You at least should spill
with me- looked him straight II
, the eye and replied, Well. ask yo,
cne question and on your answer will
; depend whether I'll divide with you
SO l asked him. If ] had made ba,
loans and lost your $1,000, would yo
; have been willing to divide tho los
with me?' The old man hesitated, bu
8 said, No, I would have wanted m
l $4,000 And I said, Then III kee
I the $1,000. took Nall the risk an
, you took none. There's your money
this is mine"