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NATIONAL Bankers About Ban NATIONAL MEETING TInstitute of convention of the American Banking was held at Tulsa this week, with enrolled delegates numbering more than 1,700, from all states of the Union. Eight special trains brought the visitors to Oklahoma The program included addresses and discussions of many topics relating to banking, by leading men in those departments. Harry H. Rogers, president of the Exchange National Bank of Tulsa, and C. C. Roberts, vice-president of the American-First Trust Company of Oklahoma City, were Oklahoma representatives on the program. The latter spoke on "Advantages and Hazards of Investment Trust Securities," or "How to Invest $100,000." Ex Senator T. P. Gore addressed the convention on Farm Relief. Many entertainments were provided for the visitors, including a trip through the Burbank oil fields, the Sinclair refinery, and a visit to Pawnee Bill's ranch, where they were tendered a buffalo barbecue. BANK SURVEY THE strong ently criticism which Senator W. B. made of the operations of the Federal Reserve system, has been denied by some Now it is announced that the Senator has employed Dr. Ray B. Westerfield, professor of political economy at Yale University, to investigate the condition of country banks in Oklahoma. The Senator expects to have this data at hand by the time Congress convenes in December. Mr. Pine believes that much of the farm distress is due to inequitable credits. Dr. Westerfield has been on the faculty of Yale since 1913, and is recognized as one of the most eminent economists in the United States. He served in 1924 and '25 as chief of the bureau of tistical methods of the Babson Service, and statistics of the Treasury Department. Roger W. Babson engaged him to revise the stahe has done research work for the National City Bank of New York. BANK CLOSED THE Bank of Commerce at Tonkawa failed to open for business on Thursday of last week. There had been something of a run on the bank the previous day, and fearing that conditions would become worse, the directors decided on closing. Their statement said: Because of depletion. of cash and sight exchange and because of anticipated withdrawals from said bank and the low price of farm products which are the principal securities we deem it advisable to close the Bank of Commerce and notify the Bank Commission as the best interest to our depositors. It was stated that the bank would pay off without loss to depositors, with necessary time given to collect its notes. It has been reported that the bank will be reorganized, but no definite announcement has been made as yet. FAILED BANKS PAY DIVIDEND of 25 percent has been anA nounced for depositors of the failed First National Bank of Bixby, which closed its doors February 18. The Fidelity State Bank of Cleveland which also failed in February, has just made a payment of 15 percent, and another payment is expected soon. The liquidating agent stated that the bank will pay a high percentage of its liabilities.
