The Crosbyton Review. (Crosbyton, Tex.), Vol. 2, No. 33, Ed. 1 Thursday, August 25, 1910 Page: 2 of 10
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1000 bushels of good oats.
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500 bundles of good millet
All in good shape and close in.
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Eastern
LubbocR
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Higbee Res-
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rant where you
in get a good meal
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>r 25c. Board by
or week. ^East
square
5W.'iM
Lodge Directory.
Silver Palls Camp
-NO. 2696-
Crosby¥on, Texas.
Second and Fourth Friday
In Each Month. Visiting Sov-
invited.
Frank E. White, C. C.
Kelley S. White, Cterk,
m
w&A's 1. -
^ Crosbyton Camp
-NO 13742-
Crosbyton, Texas.
Wednesday Night in
of Oklalloma's
Guarantee Bank Law Calls for
a Statement by State
Commissioner.
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Meets Pirst
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Each Month. Visitors Wehiome^
J. E. MfiHer." Consul.
Telley S.
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Kelley S. White. Clerk.
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office of
J0HM$0tt SEAL ESTATE CO.
Wif-
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Property
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PP—.1 at prices and
terms.-to'suit, alio small/tracts
of land from one We to 160,
some improved' near city,4 take
advantage and get in aWd of
ngggftg- the railroad ^hich is fast ap-
proaching here. „ Call and b<
COT) vinrpd onnrl uohnnla antf
grefe*
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convinced, good schools
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Johnson & Cb. '
Post Office Bids
ire
Crosbyton, Texas.
Owing to reports that have
continually gone abroad .ever
since the guarantee bank law of
Oklahoma has been put in force
it has been necessary from time
to time to defend them, not from
any weakness that could be at-
tributed to them, but inLorder to
aep down false reports that
might possibly act, if permitted
to ryn unchallenged, 4o the det-
riment of th? State. A late der
fense has been made by E. B.
Cockrell, State Bank Commiss-
ioner, in a letter to H. D. Rob-
bins of Wall Street, and reads as
follows: v
"We have become so accustom-
ed- to papers outside the State
making the claim that the .Okla-
homa banking law is a failure,
that W(B have about cefesed pay-
ing any attention to them. It is
true that the deposits in State
banks i( Oklahoma decreased
$4,447,000 between- January 31,
1910, and June 80,1910, but'dur-
ing that same period deposits in
the National banks of Texas de
creased about $8,000,000; in the
banks of Kansas City about $10,
000,000. and in the banks of St.
Louis about $11,000,000. In fact
the deposits decreased consider-
ably in all the banks throughout
the central and souChwestern
portion of the United States.
"It will therefore, be s een that
the shrinkage in deposits in the
Oklahoma State banks was a nat-
ural result of this section- of the
country, and that the Oklahoma
banking law had no bearing up-
on the situation whatever. How-
fever, with the bountiful harvest
pf all kinds of agricultural prod-
ucts; and with the inexhaustible
natural resources of every char-
acter within her borders, and
ith immigration increasing
more rapidly than in most any
other state in the Union, Oklaho-
ma is amply able to take care of
herself,, even against such odds
as the 8lamderotrsr ~attaeks made
upon the State and her institu-
tions by son e of the most influ-
ential Journals in the world.
'"I have noticed editorials sim-
ilar to the one you sent meiri the
Financial Age and the American
Banker, but assure you that any
slatement to the effect that the
Oklahoma deposit guaranty law
is a failure, or that the people of
the State generally and the ban-
kers in particutar have lost faith
in it is absolutely false.
"The mineral, agricultural and
live stock industries constitute
the basis for bank credits in this
State, and while we expect and
know that there must be fluctua-
tions in the prices of these com-
modities, yet there will always
be a market for them, and re-
gardless of what the banking
conditions may be in New York,
the Oklahoma banks will be able
to real)2$ on their securities, Ai
they constitute the basis for the
very existence of the human
race., |
"If the editors of some of the
Eastern financial journals would
attend a convention of the Okla-
homa Bankers' Association and
meek the hundreds of conserva-
tive and intelligent bank officers,
who are managing nine hundred
institutions in this State, they
would form different conclusions
'a;1
i imliMlai
concerning them.
. "it is ceriainly a sad condition [f
of affairs when a large propor-
malign
the banks of a great State
Oklahoma, because such in-
stitutions see fit to form an alli-
ance for the purpose of protect-
ing depositors in all institutions
against loss, as well as protecting
themselves against a loss of con-
fidence on account of the bad
management and failure of a few
banks.
"As an illustration of the dfcff*.
erence in liquidating a failed bank
under the old regime and under
the present law, the Capitat Na-
tion Bank of Guthrie which failed
five or six years ago with assets
of about $1,000,000 has only paid
sixty-five cents on the dollar to
depositors, -and in such small
amounts that it lias scarcely been
more than a fair rate of interest
on the amount they had deposi-
ted, while the Columbia Bank
and Trust Company of Oklahoma
City, which failed on the 28th
day of last September with, as-
sets and liabilities in excess of
$3,000,000, has been completely
liquidated and all depositors have
received one hundred Cents on
the dollar.
"The Oklahoma State banks
have reserves of thirty-five and
one-half per cent, which shows a
stronger position than the banks
of nine-tenths of the States in
the Union. The Ofelj&homa bank-
ing laws1 surround the financial
institutions of this State with
more -safeguard than the laws
of any other State, and corrects
many of the evils which are prev-
alent under the National Banking
law, sych as giving the Banking
Commissioner the authority to
regulate the rate of, interest
which banks rriay be permitted to
pay on deposits, and power to
remove any bank officers who are
found to be dishonest, reckless
and incompetent.
"Under date of May 25, 1910,
Hon Lawrence O. Murray, the
best man who has ever occupied,
the Comptroller's office at Wash-
ington, wrote this department
concerning the payment of inter-
est on deposits, saying;
"I congratulate you on your
good fortune in having a law un-
der which you are able to correct
a real evih"
"lam sending you a copy of
the Oklahoma banking law. under
separate cover, and am sure you
will agree with me that it pro-
vides a greater number of safe-
guards than the National Bank-
ing Law. "-r Review.
o 1 ■■■
DR. COX'S
BARBED WIRE
b INI MENT
Guaranteed to heal without a
blemish, or your money refunded.
Price 25c, 50c, and $1.00. 25c
fqi family use wily. For sale by
all'druggists.
Greenhill
Wholesale and Retail Grocers
SELL NOTHING BUT THE BEST
L '*■
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p, v .v--i
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Lubbock,
rf New Bicycle Shop
Everything in bicycle sundries.
Old broken bicycles made as
good as new at little expence.
Bicycles bought and sold.
R. V. Ware
At J. W. Ware's Dep't. Store
Floydada, Texas
-jLLk..jui I n ' r „
M. S. ASHFORD
:h ' "
General Contractor
and Builder
Plans jand Estimates Furnished
' on Short Notice.
^'omBuaranf"' "
When in Spur, Tex lis, see -
H .• S. B A R T LE Y
/r ■
OnhStreet^ for all kinds_of seed grain and
feed stuff. "Nigger Head" and Colorado lump
coal. Postoak wood. |
Mixed Meal and Hulls-0lXIE CREAM
ALL KINDS OF FIELD SEED
Opposite Texas Spur Office
W. H. ELLISON REALTY CO.
Land Bought and Sold
COME IN AND TAKE A LOOK j
See us before you buy List your land with us.
i
Crosbyton, Texas,
City Plumbing « Sheet Metal Works
We have a first class machanicto do our-wofk
have the only carnish brake in the county, do all
!
Kinds of carnish work, in fact every thing in
sheet metal or ten.
■ j
R. W. HEIM
Lubbock, Texas.
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Greenhill Bros. & Pike
Dealers in \
Wholesale and Retail Groceries. We solicite
the patronage of merchants as well as all- Qthers.
Greenhill Bros. & Pike
. Lubbock, Texas
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Most Up-To-Date Patterns.
I aftr selling these hats at a great dis- p
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count and ifwant one now is the
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White, Frank E. The Crosbyton Review. (Crosbyton, Tex.), Vol. 2, No. 33, Ed. 1 Thursday, August 25, 1910, newspaper, August 25, 1910; Crosbyton, Texas. (https://texashistory.unt.edu/ark:/67531/metapth242201/m1/2/: accessed May 1, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Crosby County Public Library.