| Show GUARANTY FUND DRAWN UPON oklahoma banking law causes joy to depositors guthrie okla within one oae hour from tb the tinto ff hi oklahoma hanking banking commissioner had taken charge of the international dank bank of colgate for alleged violation of the banking laws he had bad authority to pay the depositors in full though tho the banks cash and available funds in other hanks banks fell short ot of the total amount of depos deposits lW the commissioner ner was enabled to do this athla under the operation of 0 tho the new banking law and this Is the first time it has been called into use when the cash was exhausted the commissioner drew checks upon the state guaranty fund under the UK operation of the guaranty banking law in oklahoma a tax of I 1 per cent ia levied upon the average annual deposits of all state banks and the money thus raised to la need in payment in full of all do depo pos igors of an insolvent state bank after the funds of tho the bank have been exhausted |
