View source for 1914-02-20-sc-p18-reardan-exchange-bank-to-take-national-charter

'''February 20, 1914 Spokane Daily Chronicle Page 18:'''
<blockquote>
[[file:1914-02-20-sc-p18-reardan-exchange-bank-to-take-national-charter.jpg|thumb|right|200px]]'''STATE BANKS TO BECOME NATIONAL'''
----
'''Four in Washington Notice of Intention to Change Charters,'''
----
OLYMPIA, Feb. 19.—Four state banks
have filed with State Bank Examiner
W. E. Hanson notice of their intention
to give up their state charters and
take out national charters, to come
under the new federal currency law.
However, the number of state banks
will soon be increased rather than
diminished, for eight or 10 new banking
institutions, in the process of
organization, intend to apply for their state
charters soon after March 1, while
state charters were granted to two
institutions this week. By organizing
after March 1 the new banks will
escape taxes for a year, The two banks
which organized this week are the
State bank of Charleston and the Port
Angeles Trust and Savings bank. These
two institutions will have to pay 1914
taxes.

The four state banks which have decided
to take out national charters are
the Exchange bank of Reardan,
Farmers State bank of Colfax and State
banks, of Lynden and Enumclaw.
Thus far no national bank in this
state has evidenced an intention to give
up its charter because of disinclination
to come under the currency act.
</blockquote>
[[Category: Newspaper Clipping]]