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'Ardmore, Thursday, April 15, 1909
THE DAILY ARDMOREITE. PACE THREE BANK COMMISSIONER'S REPLY TO ATTACK ON BANKING LAW FREE MAPS The Only Reliable ARDMOREITE JTT Begs to renew its acquaint ance and reconsecrate its pages to its friends and the de-, velopment of this, the best city and county in the best state in the Union. Subscribe tor The Ardmoreite and keep posted on new developments that will oc cur daily. As stated thousands of times at home and abroad, Ardmore and Carter County have more natural resources than any other city or county in the state. Subscribe now. $1 will pay for the daily for two months or the weekly twelve months and you get a copy of The Latest and Best MAP OF OKLAHOMA Remember One Dollar CASH pays for the paper and the map Send or bring the amount now We Keep ALL KINDS of LEGAL BLANKS! ARDMOREITE PUBLISHING COMPANY ARDMORE OKLAHOMA (iuthru. Okl.1 , Apul l ' la an s it to :i hitter ntul iin'mtliful .it t.iik on tlii- state Imnkiiiir law. pub lished in thf .I on rim I of Political Koononiy ami commented upon in the Hi-view of Hevtefto. mto Hunk Commissioner A. M. Young Indite hankers In tlnn or any olhi r st.i'i A to Wild t'at UankliiR." I think that II Is only neeewsaiy to ill your attention to the faet that u:nl i the national ami Oklahoma state i .ill of 1-Vbruary fi (wo make rail on the name day an national), tin n.i the letter printed 1m-Io : tlotinl bank held 12 jmt cent r. It Is not only n masterful refutn- ,"e. while the utate hanks hehl Hon of the slanderous article, hut W.ll l"'1' slicing the mate It reflects the spirit of constructs e. Hik be flimnclully Ktroimer proRrosBlve, youm; Oklahomn which t tltu nntloiml hank. So far us I challenge hlatant error, no differ- '"v '" , f,ml ollt- tll,r' m unco from what ipitirt. r It roine. t another state In thin union Cuthrle, Okln.. April II. 11.00. wluMM' 1","h,, how rrvi' '"llml Journal of Political lVono.ny. Chi-' tu th,fc V thl" Aon not how , 0" ntn. Vnlvorslty. Chicago. 111. , rmtlwn In n wonderful degree. It Dear Sir: My attention ha hcen ,1"p" ,,Mt ",M,W .vll"" called to an article that recently U l'''" charge! freipieutly by appeared In your valued Journal writ- who re Ignorant of the fae'n, o- ten by W. C. Webstt r. and exten- who wilfully knowingly and prenieill slvely quoted from In the April tnteilly misrepresent them that the number of the American Itevlew of Mute banker of Oklahoma In order to Hevlews. Tho statement are o nb- K't business were paying exorbitant solutely erroneous and foreign to the rate on time depoitH. In thl con facts that 1 fuel It 1 my duty a nectlon. 1 want to add that national, bank commission that It Is my duty bank are converting Into tate bank bank commissioner of the statu ' almost dally. Kxninltiatlons how In, of Oklahoma to correct them. every Inatauce (except two) that the It Is not my purpose to argue , national banks are paying four to se-, the merits or demerit of our gunr- en per cent on time deposit, while antee bank law. I feel quite sure under our guaranty law a state bank that It Is your dealre to give your Is not permitted to pay a greater rate intelligent readers the real fact per- of Interest than three percent on de taining to all business matter. Tak- posit where left for n less length of lug this view of It. I feel perfectly time than six months, and four per Justified In addressing thl letter cent If left longer. I am pleased to to you. N ' say that the state bankers almost Thklng the charts In the order In without exception are complying which he mentions them: strictly with the ruling of this depart First I beg to say that under our ment in thl respect. amended guarantee banking hill an Again he ays that the mania for ' assessment of one fifth yearly of 1 per ..-,,i,llt ,.. mnKH lH ,,. (.(,nllncd to cent Is to be levied on the aver- tll( towllH. ij,. Myn t. Ue vll age dally deposits of state ban' HR(, ,)f Harrah. which ha about one with a limit any ono year not to ex- titititl iotl and llftv Inhabitants, two ceed two per cent, which In my ,,,, 1lV(. ,,,. lai,!!,,,,! um t.r Judgment removes the most serious ,,,.,, llr,. Ums tjlul ,f.,M, feature of the law. Thl assessment ,,, ,0i!arH. i1IlVe sworn state- Is to continue until a guaranty fund m(1ltH h thH ,,.,. ,)y ,,lin.a shall have been created equal to ,, .,. ., ,.. ,lIlU , five per cent of the total deposits ,.........,.,, ,mill(.r t.(lI r February 5). of the state banks; after whMi only sllw1C ,l(.l01,Us ,)f mt nrly t, such assessnienta will ! made as is . ..... ,..,., , .. ........i,, ,.r necessary- to keep the guaranty th(i ,.,(.,' ,.., ma(1(. i,y Mr. fund growing in proportion to the Wl,b , , t, lhat . deposits. If. for any reason, the ,,..,.. ..i.urneter are allowed to guaranty fund on hand together r(.a1( ,,., n ok!i, , allll with tho two per cent assessment Umt (jm ()f ,h(i m,w ,mnkH ,m(, should prove insufficient to pay the , n n imn w,( )ml Jm depositors- of failed banks, the sta e ( ( tw banking hoard Is empowered to is- t.llllirv .,,, 8tatlM1(.n, , HO all8(. sue a six per cent Interest bearing , h.IIcuIous and utterly false that certificate secured by the two per cent assessment to be made the ' ' i,,.in ll.illtin iiiiii i .nil iiiii- mm ...b... following year. , . . . i,iri:ii win nm Second H Is true that the attor- " ,, . . ' ... Klve It the slightest credit. He openly ney general of tin suuo renueren .... , . cliarges that saloon keepers and dls an op n on lit which he mild that , ' .in ui on in it reputable men generally are permit the deposits were guaranteed by ', . . 1 ' . . ,,,., ted to go Into the hanking nusinei-.i the state of Oklahoma, but In a . ... . , . ... in linn mm.-. i iiir. in .iii.fvii.-. wi. ... limited wav. Acting u hiii this o tin- , , , , , , , , . ... ... .. his reck ess statements unsupported Ion. some few of our banks did ad- liv fnets. iertise as above, hut today, so tar - ,,... . . .. , . ..... . i, lie ii-n-i iu mini- ilium iiiiiun n as I know, there is not a state bank . . . i ..I i. - .1.. I nei e IK l uei-n u niiiRii- iii- ii.iii" hi Oklahoma advertising their de- , .hi.. , . , . ,. ,.. fa hire In Oklahoma since this law posits as being guaranteed by the Y . mi ,. io..iui..( ,.. went Into operation and the guaranty state. The recent legislature passed ,,... , ... . . I..,,, I. ulmtl " 1 "B ll'-ei nillK'li-il win- utiiiui i law which says: .No bank slum , .. . . ..... Hi. ri.ri.rii In tlin I'lnnlnv n( the Inter be peonltted to advertise it tie- , " , , , , ... , posits as guaranteed by the state nat ona Hank of Coa.gate and t ries to of Oklahoma, and any bank or bank " ' " that it am.s officer or employe, who shall ad- 'lone for polit cal purposes. I II vertlse their deposits as guaranteed suhh-k. ine oi.mk co.nmmm.M.e. by the state of Oklahoma, shall be time. Is as loyal a republican as can guilty of a misdemeanor and upon f"'"l '.vwhere. He certainly ha, conviction shall bo punished by a to lo anything that kwould fine of not exceeding five hundred ". l"" "lemocaue imuy. ..e e,ne.. dollars or by Imprisonment In the ' the bank at Coalgate not because they county Jail for tinny y. "' ' " , , both such fine and Imprisonment , Moi.ueu ue- m ... i-.-.... ..h i lu tho discretion of tho trial court." I president and cashier to use the funds Third He says that the guaranty of ine nana. noiwimsiaiiiiMig ne ui fund Is redeposlted in tho banks everything In his power to get them and kept loaned by them. Fifty per 1 to replace the money and otherwise cent or these funds have been In- comply wltli tne law. i nuer our laws vested In state warrants bearing ln-iictle olllciaU or a bank can neither terest at the rate of six per cent. I directly or Indirectly use Its funds and the balance Is kept In banks sub-' the olllcer so using said funds Is deem Ject to check. Tliu Interest on the eil guilty or larceny. The dlrec tors ot Investments has more than pafd the 1 the hank at Coalgate expressed their expenses of administering the of-, thanks and gratitude to the bank flee of the tu'e banking board, commissioner for closing the doors oi Into -whose hands those funds are ' this bank. It was not a mutter of tin entrusted. I'nder our present law. bank's condition, but purely one ot seventy-five per .'tit of the guaranty violating the law that caused the coin fund Is to be liu -tU'A In such secur-' mlssioner to take such radical steps ltles as the state invests her own I want to say that this will be dom In money, twenty -fio per cunt to be every Instance where the bank re kept lii cash. fuses to comply with this feature of Fourth 'lie Mates that the Okla- the law. noma law has not closed the door I Again ho says that most people of hope against tho rcckhwH and In- overlook the fact that ulghiy-llve to ' ' . ..... . 11.. 1 ..1....... ...... ....... ..11 1.....1. .1......ulu competent bank r. uui nas m-m.iuj nnn-i i-i tem. m uun. ..,. m owned it much wldor than ,lt was are created by loans. I am reallv I . 1 -t . i ..A. ..... 1.. H.I.. before and HihI tho State louay giail uuu air. Minsier mane uiih seeniH to be ein.-rlng upon an era of "Wild Oat Hanking." which If not, checked will ultimately result In H nanelul dlsuster In this connection i heir to say that no man Is per mitted to take official control oi a bank In this iat until he gives rereronce as to his moral and fi nancial standing as well as his business qualify atlons. I do not mean to sy by this that we lunent nnv illhnncht 1' nkers In Okla loma but I do in' ii'i to say tha'. statement. It will, at least, show the Intelligent bankers of America how ahHohitely Ignorant lie Is of the bank ing business. Men do not borrow money to keep It on deposit. The ree ords In this olllco will ahow that not twenty-live per cont of our deposit nre created In this way. 1 bellav that I am Jiistllled in saying that what Ik true In Oklahoma in ilils respect is true In other states 1 am oiilto sure that you hue no our desire to do our fair youui) stati and Coughs That RacK Little Lungs should be stopped immediately with a reliable cough remedy. Otherwise they may perma nently weaken the lungt; and cause untold harm. Dr0 D. Jayne's Expectorant is known by mothers all over the workl as a safe and effective remedy for Coughs and Colds. It has likewise been successfully employed in cases of Croup, Pleurisy, and kindred ailments for three-quarters of a century. Your druggist sells it in three size bottles at $1.00, 50c and 25c. Dr. D. Jayne's Tonic Vermifuge is a safe and reliable medicine for expelling worms. A. 13. IIYD E Miner and 'Refiner of Asphalt WOODFOKD. OKLA. Your inquiries and patronage solicited if interested in rock nsplialt for paving purposes, refined asphalt for roofing, etc. Write lor prices and samples. Shipping point Ardmore tP TOO MUCH WATER where you don't want It Is worso than none at nil. If your water pipes burst or gut out of order send for us at once. Wo hasten to your homo and do tho necessary plumbing In tho short est poHslblu time, l'lx It so thoru will be no reposition ot tho trouble too. The Weeks, Sprekelmeyer Plumbing & Sheet Netal Co. Jtl S. Washington St. Phone 711 Economy and Accuracy My Motto And n Sciuuru Dual Insured Wm. F. Breedlove, Architect, ARDMORE, OKLA. Will prepare your plans and specifications, superintend the con struction of your building, and sovu you from 10 pur cent to 20 per cent of tho cost of the work. All work strictly original and the work of art Schools, uhurchos and hospitals a specialty. Call at my olllco when in tho city. Make in place jour headquarters. Unices In Hunkers National Hani: liulklinc McFarland's Hotel V J. Mcl'AIU-ANU, Proprietor. McALICSTEtt, OKLA. European Plan. 75 modern . . . 1 . rooms 7 sc ana si. L,arc 1 A I sampie luuui. n pupuini priced restaurant in con nection. Fish dinners specialty. this lettei what wi'i. viiiiK'in that you saw irui r to Mi Wi-bstpr'b. which I rKHil us tin inohi untruthful and Hlaiulerous that haw evei been IMiuiioil uKiiiust our Kiiui'ttiity law ami the state of Oklahoma. Vury respectfully. A. M. VOl'Nfi. Dank Coiuinlssiouer. stnto liunkers v. II compare favor ihly her great business interests an Injiia In this respec with tho national tico and I sincerely hope you will glvo Up Defor the Bar. N. II: Hrown. an attorney, of Pitts fluid. VI . writes: "We navo used Dr. KIiib'b Npw I.Ifo PHI? for years and find them such a good family meal dim wo wouldn't ho without thorn." Kor ChlllH Constipation. Illliousnea3 or Side Headache thoy work wonders 25e Ardmoro Pharmacy. Medal for Frisco. ii rtaiimsiuii, iii n 11 ll.1u.11 1 1 gold, ih fe'ilt of tie- Kreirh i;ocru meat, romiuemomtiai; the na'or..'lo uurtliiumko ot three ymri aso t 1 . . . no given to the u n t ti" 1 h tua I city by Ambassador .lussirand h IWHon AThv ''0 Hint I'll inrilill vn I doslguated by Iuls Hotti e m Inner o 1 sldo is deuteted alKvorlcallv the lI' of San Fr.indfco laying aside It DlltUIIW II' II l) IIVIU IHV W 4i wlillo on th" other la shown Prime nroscntlm: u bram 1 ot laurel t America.