The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1921-01-02
BANKERS OF AROMORt
ENTER NEW YEAR WITH
SPIRIT OF OPT IN |SM
AND WITH C0Nf|DEN CT

despite the financial conditions when
have prevailed during the pas;
months.
Many things are being planned By
the local bankers for 1921 chief among
which is the establishment of clear
ance house in this city.
Within the month definite plans
for this project will he carried out.
Another matter Of interest will be
the calling in Of bankers Of the
county for the purpose of cftecting
a closer cooperation.
In the December edition Of the ok
lahoma Banker, the following let
ters from p. C. Dings. president OF
the Guaranty state Bank, and ". w.
Jetcr, yice-presidcnt of the state
National Bank, clearly set forth the
attitude of the banker with regard
10 present conditions;
"There have been n few bank fail
ures in our state, due principally TO
over-loaning and inability TO collect.
There is no cause, however, for un-
duo alarm on account Of these fall-
nres and il is the duty of every bank
or and business man TO fully falnl-
liarize himself with conditions that
he may be enabled to communicate
advisedly with the people in his com
munity, insisting that we are not III
as bad condition as we have been
many times before and all that is
needed now is clear head and good
Judgment, and the banks will be able
90 carry the load they nov have, and
in very few months the seeming
alarm in the minds OF some people
will be forgotten and we will be go
ing along in the same cid way.
Prices for farm products fell l9.l
per cent in October, 1920, and on
November l. 1920, were 2S per cent
lower than year ago, and 25.4 per
cent lower than two years ago" We
must not overlook the fact, however,
that on November j. 1920, prices for
farm products average 14.S per cent
higher than the average for ten years
just preceding. This period Of years
YOU will observe. takes in nearly all
Of the war period, at which time
~ ices we're exceedingly high for
farm products.
Your farmers may say, Prices
have fallen so that on the present
hasis Of values Oklahomas crops of
corn, kaffirs, wheat, oats and cotton
arc worth STA ,000,0 900 less than tho
been worth year ago This is true,
but the value left in these five crops
is $3.50, 900 900. which is more than
the total value Of all crors ever pro
luced in Oklahoma any year except
last year.
"Oklahoma Is not in such a de-
plorable condition when you consider
that the yields Of crops in our state
this year were 39.6 per cent above the
states average yield in recent years,
and this will so long way toward
offsetting the drop in prices. Our
state also leads the entire country In
that respect,-the average yield Tor
the United States being only SO per
cent above the average foi recent
years 1t Is true farmers are not dis
posing of their products as they
should. This may perhaps be due
70 two facts; one, that they may be
financially able to carry their crops
and the other. that they are waiting
for higher prices. In any event, we
have very good foundation for fu'
ture business for the coming year.
Il think it very necessary that tho
hhLkers in their respective towns and
cities, keep these facts circulating to
drive away the gloomy idea in the
o 81
sun is going to shine for all and the
only thing necessary a, this time i9
to III steady in the boat, make ar
Ecntst effort 10 carry the load we
row have, and refrain from allowing
Aur customers to take on new hus''
ners. or expand old business. and IL
will not be long until we will all be
y,ming a broad smile and hang out
Nhe sign. "Busincss AS Usual"
Respectfully
"P. C. DINGS"
From w. W. Jctcr
"Tho demand for, banking accom-
mediation in Ardmore during the last
six months either for crop financing
or to meet commercial or industrial
requirements reached maximum
level. The banks have financed these
requirements and are now gradually
effecting q reduction in loans.
Farmers have not been able TO
jiquida,e their Indebtedness as speed
ily us has been the custom heretofore,
for the reason that the cotton crop
was cut short, and the price Offered
has been unsatisfactory. Notwith-
standing this, the farmers are all In
good spirits on account of the abun-
liant feed crop.
Garter county with an average
daily production OF oil Of approximate
" 10000 barrels stands ut the top
Of the list OF counties in this State
producing oil. Money derived from
the sale OF this oil is flowing stead
lis into the banks and it will not be
long befce we will be looking for
loans.
THE bankers in this county are all
optimistic. We do not believe that
there are any insurlnountable OBJ
stncles standing in the path of our
progress. We know we are competent
10 solve the things that confront US,
that they will be solved and that this
community will be benefited by vir'
tue OF our assuming optimism. ia
which we are fully justified.
,tYours very truly,
wv. W. JETER."
Mr.. Dings recently resigned as
prcsidcnt Of the Oklahoma Bankers
Association; Mr.. Letter Is chairman OF
Group Five of the Association and
will preside at the meeting of this
group, which includes southern and
southeastern Oklahoma, to be held In
this city February 26.
Okla City Pays Higher Rate
Oklahoma City. Jan. 'l.-oklahomo
,u. A,,ao,ts today hprnn having In,