The Mineola Monitor (Mineola, Tex.), Vol. 52, No. 45, Ed. 1 Thursday, January 26, 1928 Page: 15 of 16
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THE MINEOLA MONITOR
IANKERS IN NATIONAL MOVE FOR
UNIFORM FINANCIAL PRACTICE
GOLDEN
m : .
Wou!d Promote Greater Consistency Among All the St
Laws in Respect to Banking Conditions—Uniform-
ity of Practice and Understanding Will Make
for Greater Convenience, Efficiency
and Safety for All Business.
By S. J. HIGH
President State Bank Division, American Bankers Association
RAPID interchange of business and the quick transpor
tion of goods in the United States, coupled with almost
stantaneous means of inter-communication by telegraph, te
phone and wireless, have welded the coun-
try into an economic unit. The nation is not,
in a business sense, conducting its affairs in
water-tight compartments, as in a measure
it did in the days of slow travel and remote
places, but styles, methods, commodities
and business practices flow freely today in
all directions. Therefore it is desirable
that finance, trade and industry throughout
the country operate along generally uni-
form or at least consistent lines, so that a
contract or an agreement or obligation in
connection with business transactions shall
mean virtually the same thing in all parts of
the country. Particularly necessary in this
connection is the establishment of uniform
financial and banking practices so as to fa-
/SK mm i cilitate the flow of trade along accepted and
3 ; S.J.HIGH understood lines.
; Banking in the United States is recog-
nized as a semi-public type of business and is therefore sub-
ject to laws to define the scope and character of its activities.
These laws at present set up a great diversity of conditions
under which banking is conducted in
bank commissioners in some states is
found in laws giving them complete
charge of insolvent banks and theii
liquidation as distinguished from more
costly liquidation through the courts.
In the Public Interest
Distinctly in the public interest are
laws prohibiting or limiting an officei
or director of a bank from "sorrowing
from his own bank unless his col
lateral security is approved by a ma
jority of the board of directors of the
bank. Also there is recent legislation
noted providing for closer supervision
and regulation of building and loan
associations, credit unions, finance
companies and private banks.
In some states measures have been
enacted broadening the field for In
vestment of funds of savings bank?
and trust companies, which have ma
terially enhanced the service that
these institutions can render, particu
iarly in the way of co-operation witb
their customers in personal financial
management. Another type of legis
lation, important especially to bank
ing in view of the frequent efforts to
defraud banks, is that which makes
the issuance of worthless checks a
misdemeanor with specific penalties.
The State Bank Division of the
American Bankers Association en-
dorses in the fullest degTee in princi-
ple the devetepraent of banking laws
along the forgoing lines and is active-
ly engaged in foetering the spread of
such legislation w<herever its services
are considered nsefal both to banking
and to the public. Uniformly sound
banking institutions and practices, to-
gether with common methods and un-
derstanding, will materially add to the
convenience, efficiency and safety of
business in serving the well-being of
the public in all parts of the nation,
especially in those transactions involv-
ing dealings between different locali-
ties.
|
4-..
v'
various parts of the country since
they come from both state and fed-
eral authorities. The national banks
are all chartered by the federal gov-
ernment and therefore operate on the
san)£. lines in every state of the
ion, but there is no such regu-
larity in respect to the conditions
under which the state banks chartered
by the respective forty-eight states
must conduct their business. All state
banking codes, while they have simi-
larities, also have many great dissimi-
larities in respect both to the na-
tional bank laws and the banking laws
covering state bank operations in oth-
er jurisdictions.
, Bankers Move for Uniform Laws
The State Bank Division of the
American Bankers Association, which
latter includes in its membership
banks of all descriptions throughout
the country subject to all the varia-
tions of state and federal banking
laws, is committed to the effort to
bout greater consistency and
uniformity among the statutes of all
these- various Jurisdictions. This body
is conducting a vigorous nation-wide
campaign urging that active steps be
taken to secure greater co-ordination
fa banking legislation, more equitable
conditions and more uniformly effi-
cient public supervision of hanks in
the several states.
The organization is particularly con-
cerned with fostering this movement
to bring about more uniformly desir-
able conditions throughout the United
States in respect to the public super-
Tision of banking institutions by the
«tate baking departments. It is on
recor^ ls favoring the policy that the
Important office of state bank commis-
sioner should be kept as free from
entangling partisan politics as the ju-
diciary itself and should he complete-
ly detached from all other functions
ot state government.
It is also on record as favoring the
policy that the tenure of office of state
(>ank commissioners should be made
more secure and lasting than is now
the case in many state jurisdictions
and that this important public officer
be granted sufficient compensation
and discretionary power so that the
office shall attract and retain the serv-
ices of men of outstanding executive
Ability and successful banking expe-
rience.
v It is also a part of this policy that
bank commissioner's ability to
serve well should be strengthened by
providing him with adequate forces of
bank examiners, selected on the basis
of merit from men having the requi-
site qualifications of honesty, ability,
training and banking knowledge to
carry out the duties of their offices on
the highest plane of usefulness to the
public as well as to banking.
The Trend of State Laws
The Association's State Bank Divi-
sion has recently concluded a nation-
wide survey of state banking legisla-
tion and conditions and in general has
discovered a definite trend along the
following lines:
There is a distinct tendency among
the states to raise the minimum capi-
tal required for banking institutions
to $25*000 and also to give the bank
commissioners or the banking boards
sole power as to the granting of char-
ters for new banks, thus enabling
them to use discretion as to the need
or desirability of added banking facili-
ties or the fitness of the organizers" W
enter the banking field. In this con-
nection many states are creating
banking boards to act In an advisory
capacity with the state bank commis-
sioners.
There has also been observed a
tendency to increase the compensa-
tion of the bank commissioners and to
lengthen their terms of office and to
ffrre them power to appoint necessary
deputies and examiners so as to build
adequate force to carry out their
QSlbiMties and duties An Impor-
aUffmentatloD of the powers of
M.
AMERICA LEADS THE
WORLD IN SAVINGS
The past year saw the greatest
gains in savings in a single twelve-
month ever recorded in the United
States, bringing the total savings de-
posits in banks to over 328,400,000,000
on June 30, 1928, held in more than
53,000,000 individual accounts, it is
reported by the American Bankers As
sociation. These are the biggest fig-
ures in this field shown by any coun
try in the world.
These figures are indicative of pros
perity more general than any time
since the business depression of 1020,
the report declares. Only three states
failed to show a gain and the 1928
volume of savings constituted an in
crease of more than $2,327,000,000
above the 1927 figure. The gain per
inhabitant for 1928 over 1927 was $17
and the gain in number of savings de
positors was 2,496,073, an increase
of 5.2% as against a growth in the
population of the country of 1.2%.
The gain in savings per Inhabitant
in New England and the Middle At
lantic states over the previous yeai
was $36. These groups of states, witb
29.9% of the populaticn of the United
States and 52.8% of the total savings
deposits, have the largest savings rate
$461 per inhabitant, of any area in the
world. The per capita savings for the
United States a3 a whole this yeai
stands at $237 as compared with ?22C
last year.
"An acre of alfalfa for every cow In
Howard County, Iowa," Is the slogan
adopted by the county bankers asso
ciation there after watching several
hundred thousand dollars go out ol
their county last winter for feed. ,
Mr. and Mrs. George Reed and
baby, Mr. and Mrs. Edward Reed
Mrs. G. B. Reed of Dallas spent
the week end with Mrs. Lida
Gibson.
Mr. and Mrs. B. F. Cathey and
baby, who has spent several weeks
with Mr. and Mrs. John Gilbert
returned to their home in Anson
Thursday.
Miss Fern Gibson of Dallas
spent the week end with relatives
and home folks.
Mrs. Richard Sy was co.lled to
Dallas, Thursday, due to the death
of her grandson.
Mr. and Mrs. Aubrey Be!lorny
and baby, are visiting with their
parents, Mr. and Mrs. John Beeic-
my.
Mr. and Mrs. Louis Warcllaw of
Lone Pine spent the week-end
with Mr. and. Mrs. Tom Chap-
man.
Mrs. C. L. Lee gave her music
class a party at her home in Min-
eola, Saturday afternoon, everyone
reported having a nice time.
Mr. and Mrs. C. O. Dickey ere
visiting at the home of Mr. and
Mrs. Son Gibson.
Miss Iris Adrian spent Wednes-
day, with Mrs. Cosior Adrian.
Mis Vannie Seoggin of Dallas
spent the week-end with Miss
Maud Avis Seoggin.
The Mineola boys and girls play-
ed a game of basket ball against
the Golden boys and girls at the
Golden Gym, Friday night.
Mrs. Owen Walker of Dallas
spent Sunday with Mr. and Mrs.
Jno. T. Robinson.
Mr. and Mrs. Hick Seoggin of
Denison visited the past week
with Mr. and Mrs. Claud Seoggin.
iVussts uma lee Mize and Mabel
Harrison spent the week end
in Mineola with Mr. and Mrs. C.
L. Lee.
Messre. Pete, &zel!e and Earns
Gibson, "Wesley College stuaent-s
were home this week-end with re-
latives.
Miss Tobbie Reneatt, who has
spent several weeks with Mr. and
Mrs. Lee Adrian in Dallas return-
ed home Saturday.
Mr. and Mrs. Malcolm Oliver
of Dallas spent Sunday and Mon-
day with Mr. and Mrs. John T
Robinson.
Misses Sybil Doweil and Irene
LeLay spent Sunday afternoon
and evening with Mr. and I.Irs.
W. C. Bbwell.
Mr. Grady Shirey cf Malakoff
spent last week-end vith friends
and relatives.
Mr. Curtis White was" over to
his new home, Sunday.
Mr. and Mrs. Russell Adrain of
Mineola spent Sunday with Mr.
and Mrs. Costan Adrain.
Just say it was in The Monitor.
< Mesdames. H. C. Charles and | Eat lunch with the Methodist
j Rodney A. Charles are spending ' Ladies Saturday, at W. D. Williams
! the week-end in Gladwater. j Grocery Store.
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| SORE THROATS 1
Are rampant at this time of the year. It j
j is common practice for some people to dis- |
1 regard them, to say—"Oh, this will pass in a |
| day or so." Common practice, but not very |
| good judgment. A sore throat is evidence j
| of an internal distrubanee. It is an effect |
J of that disturbance, which is deeper and 1
J graver than the surface indication. Let a- [
| lone, something worse is very apt to follow. |
| The sensible thing to do is to remove the |
| cause that makes the sore throat possible.
| Spinal adjustments release the vital ener- |
H carried by the nerves, and permit Nature |
| to restore the internal balance which is 1
| Health. |
| DR. E. P. • BUNN |
I CHIROPRACTOR |
ESTA5USHED
WHERE ECONOMY RULES
PW
■economy Campaign
SPECIALS
Economy
Brand
RAISINS
A&P or SUNNYFIELD
FLOUR
Quality Guaranteed
43c < 79c
48 $1.55
Med. Size
California
PRUNES
3 ibi23C
riAinVTTlTCI LUCKY STRIKE—OLD GOLD
VAVitfl& A A JC#9 CHESTERFIELD—CAMEL •
Carton ^
HEINZ to'SKo KETCHUP Ji 18c
CANNED PIE APPLES . . . .
3 S£ 25c
P&G or Crystal White Soap . .
£ Bars 25C
HIGH GRADE BROOMS . . .
q Each
Del Monte
III* FINE
TOILET
Old Dutch
Shredded
Raisins
SOAP
Cleanser
WHEAT
3Pkgs' 25c
3Cakes 22c
3 Cans ItyC
Zpk^ 19c
Sunnyfield Pancake Flour
Pkg.
9c
PREPARED MUSTARD
Quart
Chum Salmon 17c
lona Peaches . Jsr 19c
Domestic Sardinescan 5c
lona Cocoa % L 25c
DEL MONTE SPINACH
No. 2
Can
£6©
No. 2 1-2
Can
19c
—*——
Encore PREPARED SPAGHETTI . 3 25c
PINT©
SONA BRAND
Standard Quality
CORN0"
PEAS
% 21c
ScotTissue
TOILET
PAPER
Rolls
THE
CHEAT
* Pmm
a
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Carraway, R. H. The Mineola Monitor (Mineola, Tex.), Vol. 52, No. 45, Ed. 1 Thursday, January 26, 1928, newspaper, January 26, 1928; Mineola, Texas. (https://texashistory.unt.edu/ark:/67531/metapth286047/m1/15/?q=%22%22~1: accessed June 27, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Mineola Memorial Library.