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sess more power than standing armies and should guard what they say as they would dynamite and gun powder. Recently the Chatham Phenix National Bank, New York City, caused the arrest of a broker who spread a false report about the solvency of that institution. Oklahoma has the same law. The operations of the Bank of Aline, one of the cleanest little banks in the State of Oklahoma, was temporarily suspended on September 7th, because of a false report which was the result of a rumor circulated in the Aline community connecting the bank with another Aline @stitution, which they say is known to be in financial difficulties. The bank, after paying out a large amount of money to depositors who had made a run on the bank, suspended business until the State Bank Commissioner could investigate the situation. The investigation proved the bank to be solvent and in a satisfactory condition. The run was stopped and the bank is operating today under normal conditions. Why do such reports have to be circulated? In connection with the Chatham Phenix incident. the Oklahoma News had the following to say: "But, if false rumors make depositors hysterical, and they all want their money at once, banks get into difficulties. Banking is founded on confidence. When a liar jars the confidence of enough people and the people lose their heads, there may be trouble. More courage on the part of banks in 'stepping on' the scandal-monger would save 90 per cent of the bank failures. People should be punished for letting their tongues wag. It is a peculiarly vicious practice-almost invariably the most idle gossip. The susceptible should be protected against them." REAT BRITAIN has been put to the crucial test G in the past months. Having borrowed short to lend long, she was perilously near the point too many banks arrive at when they freeze demand deposits in long time loans. Great Britain was determined to protect the exchange value of her currencies and the Bank of England has been mobilizing its foreign assets in order to buy the sterling which has been sold by foreigners, principally out of the balances which they hold in London in the form of bank deposits, and has used many million pounds worth of its gold to preserve its exchange rate. Bank and Trust Company : Mayor Blinn, Carl C. McGee and others, who described the building as a monument of stone builded on the faith of its backers. Music for the occasion was supplied by an Amarillo, Texas, band, Mrs. Marvin Kahn of Galveston, Texas : Helen Mulane, Harlingen, Texas, and the Yoeman Kiltie vocal trio. The program was broadcast over KFJF. A stationary beacon of 50,000 candle power will be of great service to aviators in dirrecting them to the air port and the revolving beacon of 2,500,000 candle power can be seen a distance of 100 miles.
