21
THE CHICAGO BANKER
July 17, Jpop]
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We invite both active and [inactive accounts of financial institutions upon favorable terms. The personal attention given by its officers to correspondents’ accounts the ample resources of the bank afford every assurance of safety for funds.
WILLIAM M. RICHARDS, Asst. Cashier LEVERETT THOMPSON, Secretary
OFFICERS JOHN A. McCORMICK, Vice-President HOUSTON JONES, Cashier
LUCIUS TETER, President EDWARD P. BAILEY, Vice-Pres.
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that could be fostered and promoted by an association that brought them together in an annual meeting. That there were topics and subjects of general interest to the bankers of the Southwest that couldn’t find appropriate expression in the state meetings of bankers of the Southwest. That he would do all in his power to promote the next meeting of this club and to get the bankers to appreciate its importance and the pleasure and advantage of a better acquaintance. He then asked the pleasure of the convention.
H. T. Baker, of the Oklahoma Bank & Trust Company, of Muskogee, offered the following resolutions:
Whereas, in view of the recognized fact that Kansas, Oklahoma, Arkansas, Louisiana, Texas and southwest Missouri are making marvelous development and progress, unequaled in any other section of the country, and
Whereas, millions of the reserve money in the banks of Kansas City, St. Louis, Chicago and New York, placed there to the credit of the banks of the Southwest, is used to finance enterprises in those cities and is loaned to stockjobbing enterprises which have no business merit whatever, such as margins on stock gambling and other enterprises of a questionable nature and which is occasionally loaned back to the Southwest at a profit to the banks and bankers of those cities; and
Whereas, there are cities in the Southwest having a population of 25,000, the number required under the national banking law to become reserve cities and many other towns of rapid growth that will soon come in this class; and
No one spoke on the other side of the question, those listening being in the attitude of getting information for the first time of what the Oklahoma bankers claimed for their law. Mr. Orr was tendered a vote of thanks.
The bankers met in formal session again on Thursday and the first business in order was the report of the committee on officers for the ensuing year. The committee reported as follows:
For President, E. T. Reaves, of Little Rock, Arkansas, assistant cashier of the German National Bank.
For Vice-Presidents: F. A. Handlin, Fort Smith, Ark., cashier of the First National Bank; L. L. Allen, Pierce City, Mo.; cashier of the Lawrence County Bank; R. S. Litchfield, Independence, Kan.; president of the First National Bank; P. L. Downs, Temple, Tex., cashier of the First National Bank; J. W. Orr, Vinita, Okla., vice-president of the International Bank and Trust Company; R. N. Simms, Donaldsonville, La., vice-president of the Peoples Bank and W. H. Harvey, secretary and treasurer of Monte Ne, Ark., vice-president of the Bank of Monte Ne.
On the report of the committee being read, the convention by a rising vote unanimously adopted the report and the officers named were declared elected.
E. T. Reaves was then conducted to the platform and was introduced by Mr. Allen, the retiring president, amidst applause. Mr. Reaves said he was not a talker, but nevertheless made a splendid impression on the bankers. He said there was a mutual interest existing between the bankers of the Southwest
Downs said that each year the bankers association of Texas arranged an excursion and this year, in one or more Pullman trains, they had visited California; and that next year he would like to see the annual excursion come to Monte Ne to the meeting of the Interstate Bankers Summer Club, and that he would so recommend to the State Bankers Association of his state. It would be, in many ways, more pleasant than any excursion they could take. After a short talk by several other bankers, the first formal meeting adjourned to get down to more serious business the next day.
The second formal session was addressed by J. W. Orr, manager of the International Bank & Trust Company, of Vinita, Oklahoma, on “Oklahoma’s Bank Guaranty Deposit Law.” Mr. Orr is a former resident of Champaign, Illinois, is a fluent and forceful speaker and was listened to with close attention throughout his address. He opened by saying that no guaranty law is safe or would prove a success without a good banking law behind it. He claimed that Oklahoma had the best banking law of any state in the union and a better banking law than the United States had for the regulation of national banks. He then proceeded to read and comment, section by section, on the banking law of his state. He was witty, humorous and pungent at times when answering questions or when referring to printed speeches, from which he read, that had been made against the law. He closed by giving statistics on the growth of the state banks in Oklahoma since the law had gone into effect, gaining twenty-three millions in deposits over the national banks in his state.
Marshall & Ilsley Bank
Milwaukee, Wis.
ESTABLISHED 1847
Capital $500,000 Surplus $370,000
Oldest Bank in the Northwest Conservative Progressive
We take pleasure in placing our facilities at your disposal and should be pleased to have you write us if you are contemplating opening either an active or a reserve account in Milwaukee.
OFFICERS AND DIRECTORS JAMES K. ILSLEY, President
JOHN CAMPBELL, Vice-President HARRY J. PAINE, Asst. Cashier JOHN H. PUELICHER, Cashier	G. A. REUSS, Mtfr. South Side Branch
SAMUEL H. MARSHALL	J. H. TWEEDY, Jr.
ROBERT N. McMYNN	C. C. YAWKEY
GUSTAV REUSS
The Audit Company of Illinois
1439-42 First National Bank Building, Chicago
Specialists in Auditing and System-atisiir&fg Ptablae Service Corporatioas
C. W. KNISELY, С. P. A.
President—Manager
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