1914-02-20-sc-p18-reardan-exchange-bank-to-take-national-charter
February 20, 1914 Spokane Daily Chronicle Page 18:
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.
