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OLD CONCERN DEPOSITORS GETTING MONEY IN FULL Unfavorable Confrast Presented By Conditions at Tulsa's Suspended Bank A charter was issued this more ing the Guaranty State Bank of Kiefer, which was organized and opened at Kiefer by J. W. Orr and his as vociates and accepted on the opening da. more deposits than were with drawn by the depositors of the First State bank, of that city, which was taken in charge Tuesday by the state banking board, following the failure of the Farmers and Merchants Na tional bank. at Tulsa which held $30, 000 of the Kiefer bank's cash reserve. Bank Commissioner Young on Thursday authorized the new bank to commence business in the First State bank building and permitted the sale of the fixtures of the suspended bank to the new institution. which has a capital stock of $10,000. The direct orate of the new bank is composed of J. W. Orr, W. R. Ritchie and Thomas A Hagler, of Tulsa: E. L. Orr. of Vinita, and T. J. Sullivan of Kiefer, Bank Commissioner Young, who returned from Kiefer last night, today malled to the new bank the formal certificate authorizing It to commence business. Commissioner Young reports that the depositors of the First State bank are being paid dollar for dollar and that due to failure of depositors calling for their money less than half of the $78,000 on deposit has been with drawn. He states positively that the assets of the First State bank have not been sold to the new bank and that the suspended bank will be immediately liquidated under the provisions of the guaranty law. He esti mates that the affairs of the bank will be wound un and every creditor paid in full within thirty days. He states that all depositors will have been paid off within five days, or sooner, if they call for it. Commissioner Young states that the failure of the National bank at Tulsa where none of the $427,000 deposits has been returned to the depositor and the suspension of the Kiefer bank. fifteen miles distant. where depositors are being paid dollar for dollar, is the best demonstration as to efficiency of the depositors' guaranty law that has happened since the law has been in effect. The failure of the two banks being in the same locality brings home to the depositor very forcibly the difference between having his money in a National and a state bank. The fact that practically all of the deposits at Kiefer were made by workmen in the oil fields who are now out of work and have only. their bank ac count to fall back on is another demon station in favor of the new law. The salaried men and laborers who had money on deposit in the Kiefer bank almost wept with joy when they saw that every depositor was being paid in fuil and are now, regardless of political faith, singing the praises of the guaranty law. The majority of these men re-deposited their money in the new Guaranty State bank Thursday, in the same building where it was given to them by the state bank examiner Wednesday.