Jasper County Democrat, Volume 13, Number 46, Rensselaer, Jasper County, 17 September 1910 — STATE FUND RELIEVED [ARTICLE]

STATE FUND RELIEVED

Of Liability in Big Bank Failure In Oklahoma. Guthrie, Okla.. September 13. —By a decision of the State Supreme Court to-dav the Oklahoma bank guaranty fund is relieved of responsibility of some 5260.000 in state and county deposits held by the Columbia Bank and Trust Company when the institution failed for, $3,000,000 last year. Surety companies which backed these deposits must pa}' the losses. The National Surety Company of New York had a bond for $50,000 of the state permanent school fund, the L’nited States Guaranty and Fidelity Company of Baltimore $50,000. and the Southern

Surety Company of Muscogee, Okla., $40,000. By the same decision the Commercial Trust Company of Kansas City, which paid a $50,000 bond on state funds, and a surety company protecting the Oklahohoma County deposit of $70,000 was probably prevented from recovering from the bank guaranty fund.