The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1921-02-20

10 unSrttle the pubic, IN otner .
words make them "panicky." He en-
phasized the necessity OF banks de-
clining TO make loans. only upon the 4
grounds that the money applied for
was not To be used for non-essentials. /
Mr.. Mckinney also called attention TO
the fact that the country. as a whole, (
has passed the turn that liquidation .
is now setting in. which would re-
lieve the general situation, adding,
however, that banks We're still under
necessity OF conserving their resources
and limiting their advancements with
those things which had to do with
product ana normal conduct of busi-
ness.
THE Eleventh Federal Reserve dis.
trict," Mr.. Mckinney concluded, in
cludes the greater portion of the bank
ers in Group Five. Ii has, i'm spite OF
unfavorabe conditions, succeeded in
liqudatng the district, as reflected by
the fact that whereas 60 days ago the
Federal Reserve Bank. Dallas. owed
to other Federal Reserve Banks ap.
proximately forty million dollars, to-
day we owe only about fifteen mil
lions
"'rhe Building and Loan Associations
are but by-products of banks Mr.
Selvidge said in opening his address.
"We are under the state banking
department and we think we are
where we belong and we feel that
there should be the most friendly re-
llationship between the associations and
the banks.
We should have the closest CO.
operation and not competition in the
business world, There is no reason
for any friction between the two ar
ganizations, and where there is an
| tagonism. il exists only because Of
misunderstanding OF the functioning of
/ the Building and Loan Association.
"We are engaged in a different kind
Of business, hence we are not COM
pettors," Mr.. Selvidge continued.
Some crit Ccism has been made on
account Of our 6 per cent interest
but We are within our rights under
the laws Of the state, and We should
not be criticised for this. We want
longtime notes, while you seek short
er time.
America is facing a big shortage in
homes, and the Building & Loan Asso-
citation aids in this work. The banks
lose nothing when money is withdrawn
from them to invest in Building and
Loan. There is no greater work than
saving and home owning. The own
ing OF homes will do more to get
the country back TO safe and sane
basis than any other one agency-you
do not find bolshevism or any other
'isms' among the home owners
Mr.. Selvide expressed appreciation
for being included on the bankers pro-
gram and concluded by asking that
the associations continue TO have the
close cooperation of the bankers.
At the morning session the pro
gram was taken up with addresses
by ID. ~ Fink, president of the Okla
homa Bankers Association. w. Il.
Daniels of Oklahoma City, and Carl
Williams Of the Oklahoma Cotton
Growers Association. The meeting was
opened with prayer by DR.. L. l.. Dav.
idson, pastor of Broadway Baptist
church, followed by an address Of
welcome by Mayor w. F. Freeman.
response TO which was made by Mr..
Sarnuels
At the conclusion of the morning
program. the bankers accompanied by
their wives went to First Presbyterian
church where a most enjoyable lunch
con was served. The tables were dec
GRATED with q profusion OF flowers,
and the menu consisted Of such as
the women OF this church are ia
nous.
Following the afternoon session the
bankers joined the ladies at Hotel
Ardmore for brief musical program,
and then went 10 the Chamber Of
Commerce where q 6 o'clock onaquet
was served. This was an elaborate
affair, music being furnished through
out the banquet by Youngberg's Or
chestra. Mr.. Gum officiated as toast
master and talks were made by C..
W. Richards, superintendent OF city
schools. Ed Sandlin, cashier First Ma.
tional Bank, DIR. Richardson Of Union,
Frank 3. Finch Of New York, and
others.
At the conclusion of the talks MI,
Gum stated that in behalf OF the Ok
lahoma Bankers Association he wished
to thank the officers OF Group Five
and the citizens OF Ardmore for the
splendid manner OF entertainment which
had been provided.
From the Chamber Of Commerce the
visitors were taken 10 Convention Hall
where n dance concluded the days
program.
RESOLUTIONS passed by Group Five
; at the close OF the afternoon session
e are as follows;
Whereas-The foreign cotton market
: is such that We have been unable
) 10 find sale for the volume Of cot
ton normally anticipated and whereas
y the carry over from last year TO
: gether with the probable carry ovei
d this year will leave nine million bales
= OF cotton unsold.
:. BE IL Therefore Resoivcd-That GrouJ
! Five ia convention assembled recon-
d mend TO farmers OF this district the I'D
visibility Us Well US the necessity o'
= cutting the cotton acreage FOR 1872
o ut least thirty-three and one-third p-i
= cent OF the 1890 crop in order tha
y fair and reasonable price may b,
y obtained for the future crop.
1t Pc II Further Resolved. az follows
~ Eirst-T'hat We recommend to eacl
farmer who IL not 20 cqusppca TN
value of a garden, COW, q SOW an'
buncel Vi hens Us a means Of pro
'e viding for his table thus getting bacl
y to first principles of raising as IA
20 ~ possible the fooi whsh his tHp,l
=, consumes
~ Second---Tbat the farmers be er
" couraged TO raise an abundance {
W food stuffs with which to carry b
y stock 10 maturity of the succeedin