gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
3a84346d0fbafc16
Response Measures
Borrowed from banks or large institutions, Capital injected, Full suspension, Books examined
Receivership Details
Depositor recovery rate
51.8%
Date receivership started
1925-06-05
Date receivership terminated
1930-08-30
OCC cause of failure
Economic conditions
Share of assets assessed as good
27.8%
Share of assets assessed as doubtful
28.2%
Share of assets assessed as worthless
44.1%
Description
Board closed bank to protect depositors after steady withdrawals and checks cleared through other towns; receiver appointed June 6, 1925.
Events (5)
1.March 15, 1922Chartered
Source
historical_nic
2.May 27, 1925Run
Cause
Local Banks
Cause Details
Depositors drew funds through banks in nearby towns (principally Paris, Texas) and heavy withdrawals following recent closures of other Hugo banks created an 'indirect run.'
Measures
Directors asked depositors to limit withdrawals and then closed the bank by order of the board to protect depositors.
Newspaper Excerpt
Checks totalling $9,000 were cleared yesterday from these sources and directors indicated their action in closing the bank was to stop this indirect run in order to protect the remaining depositors.
Source
newspapers
3.May 27, 1925Suspension
Cause
Local Banks
Cause Details
Board voluntarily closed the bank citing heavy withdrawals and inability to secure additional funds after other local banks failed.
Newspaper Excerpt
The City National Bank, third and last bank in Hugo, closed its doors today. A notice on the door said the closing was by order of the board of directors.
Source
newspapers
4.June 5, 1925Receivership
Source
historical_nic
5.June 6, 1925Receivership
Newspaper Excerpt
Roy A. Cooper... was appointed receiver for the City National bank of Hugo yesterday. The appointment was made by J. W. McIntosh, comptroller of currency.
Source
newspapers
Newspaper Articles (23)
1.May 27, 1925Brownsville HeraldBrownsville, TX
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LAST BANK IN HUGO IS CLOSED Oklahoma Town Excited as Third Institution Fails to Open (By The Associated Press.) HUGO, Okla., May 27.-The City National Bank, third and last bank in Hugo, closed its doors today. A notice on the door said the closing was "by order of the board of directors." The closing of the first two was attributed to inability to liquidate old cotton loans. City business men yesterday, forseeing the impending crisis, made a concerted effort to replenish the bank's cash, sending representatives quietly to surrounding towns in an attempt to obtain money. They were unable, it is understood, to complete any negotiations in that direction. Suppressed excitement gripped the city as the last bank closed, but there was no demonstration. It was indicated today that while there was no apparent "run" on the bank recently, many depositors had gone to nearby towns, principally Paris, Texas, and drawn on the local institution through banks in those cities. Checks totalling $9000 were cleared yesterday from these sources, directors indicated.
2.May 27, 1925Bartlesville Examiner-EnterpriseBartlesville, OK
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BANK FAILURES HITS HUGO HARD FINANCIAL RAP
City National Bank Third and Last Bank Closed Its Doors Today
(By the Associated Press) HUGO, May 27.-The City National Bank, third and last bank in Hugo, closed its doors today notice on the door said the closing was "by order of the board of directors The Hugo State Bank and the Hugo National were closed May City business men yesterday foreseeing impending crisis, made concerted effort to plenish the bank's cash. sending representatives quietly to rounding towns in an attempt to obtain money. They were unable, is understood, to complete any negotiations in that direction It was indicated today that while there had been no apparent "run" on the bank recently many depositors had gone to nearby towns, principally, Paris, Texas, and drawn on the local institution through banks in those cities. Checks totalling $9,000 were cleared yesterday from these sources and directors indicated their action in closing the bank was to stop this "indirect run" in order to protect remaining positors. The closing of the last maining bank in Hugo was the subject of conversation above all (Continued on Page Six)
3.May 27, 1925The Daily ArdmoreiteArdmore, OK
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CAUSES FINANCIAL RUIN OF
Persistent Withdrawal of the Deposits in Favor of Nearby Banks Ruins the City National of Hugo.
LAST OF THREE BANKS TO CLOSE
Tragedy Causes Great Excitement But There Was No Local Demonstration.
City National bank third and last of the banks in Hugo, closed its doors Wednesday. A notice on the door said the closing "by order of the board of directors." The Hugo State bank and the Hugo Na tional bank were closed May 6th. City business Tuesday foreseeing the impending crisis, made concerted effort to replendish the bank's cash. sending representatives to sur rounding towns an attempt to obtian money They were unable com plete any negotiations in that direction, was indicated Checked Out in Texas It was indicated Wednesday that while there been no apparent run on the bank recently many depositors had gone nearby towns, principally Paris, and had drawn on the local stitutions through banks in those cities. To Stop Run Checks totaling $9,000 were cleared from these sources and directors indicated their action in closing the bank was to stop this indirect run, in order to protect the remaining depositors. The closing of the last remaining bank in Hugo created great excitement but there no demonstration. statement from the directors of the bank is expected. The failure of the Hugo National and the Hugo State was attributed to their inability liquidate old cotton loans. good season last year improved ditions but did not make it possible retire enough old loans to save the banks.
Catch Optimism Hugo citizens, cut off with only what cash they had in their optimism on the rebound and set themselves to work for better days. the shock of the last bank collapse business that the action would hasten plans for the reopening of the Hugo National largest bank in the city. The plans already underway and the imperative need of banking facilities about the City National closing is regardas giving Business Prostrate Business prostrated once after the City National closing became known, almost all the money available in the town being what citizens pened to have cash. Storekeepers stood on the sidewalks and everyone discussed situation. Virtually holiday was forced on the city.
4.May 27, 1925The M'Alester News-CapitalMcAlester, OK
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OTHERS WERE RECENTLY CLOSED of Largest Reorganization No Bank Being Rushed; Merchants Have Enough Run Business. Money to citizens. cut off the cash they had day with only closing of the their pockets by the caught optimism on and themselves rebound for better last of the City National city to close this three banks in he did for business month, open notice the door said closed by the board of had been rectors. The Hugo National and the State closed May Town is Optomistic. from the shock of the business men last bank's collapse, that the action predicting the would hasten plans largest bank Hugo already well city. These plans are the imperative banking facilities brought about the City Nation's closing regarded giving them added impetus two banks are open today county, small state banks Townson and at Boswell. Both are located villages, but several Hugo men sent there today continuing the business the city pending the soluthe problem are Business prostrated City National closing almost the money the town what cash. Storethe sidewalk and situation. the Dodds, attorney for the comptroler of the who here in federal court, declared his experience he had never seen situation such as exists He declared that far knows Hugo is the largest city the bank. here about 6,000. Deposits of the City National on April date of most statement, Its capital surplus was given resources and reserves City business men foreseeing the crises, made concerted effort to replenish the cash, sending quietly to surrounding towns in an to money. They unable. understood, to complete negotiations in that direction. Made an Indirect Run. was indicated today that there had been no bank many gone nearby towns, princiTex. and through banks Checks totalling $9,000 from and directors Indicated their action closing the bank this (Turn to Page
5.May 27, 1925The Ponca City NewsPonca City, OK
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EPOSITORIES IN SHUT DOORS MONTH LOANS
EFFORT MADE TO KEEP BANK OPEN
Hugo, Okla., May The City National Bank, third and last bank in Hugo, closed its doors today. A notice on the door said the closing was "by order of the board of directors. The Hugo State Bank and the Hugo National were closed May 6th. City businessmen yesterday, foreseeing the impending crisis, made concerted effort to replenish the bank's cash, sending representatives towns attempt to obtain They were unable to complete money. any negotiations in that direction. No Run On Bank. It was indicated today that while there had been no appeal the bank recently, many depositors had gone nearby towns, principally Paris, Texas, and drawn the local institution through banks in those cities. Checks totaling $9,000 were cleared yesterday from these sources, and directors indicate their action in the closing bank was to stop this "indirect order to protect remaining depositors.
No Demonstration Staged. The closing of the last remaining bank in Hugo was the subject conversation about all the city, but there was no demonstration given. statement from the directors of the expected. The failure of the Hugo National and the Hugo State was tributed inability to liquidate old cotton loans. good season Tast year conditions but make it possible to retire enough old loans save the bank. Only Two Banks In County. Only two banks are open today Choctaw small county, state banks Fort Towson and at Bos well. Both are located near Hugo but several business Hugo men sent there for cash. Plans for continuing the business of the city pending the solution of the bankproblem are indefinite. Business nearly prostrated after the City National closed because almost all the money available in the town being what citizens happened to have cash. stood the on sidewalks, and discussed everyone the Largest Town Without Bank. Nugent Dodds, attorney for the office the comptroller of the currency at Washington, who here prosecuting case federal court, declared that in all his ex. perience he had never seen situation such exhists here. He declared that far he knows as Hugo largest city in the United States without bank. The population here about 6,000.
6.May 27, 1925The Ada Evening NewsAda, OK
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Failure of City National to Open Doors Leaves City Without Bank
Money Drawn Out of Bank From Surrounding Towns, Withdrawals Show the Associated Press) HUGO, May City Nationbank, third and last bank in Hugo, closed its doors today notice on the door said the closing was order of the board of directors. Hugo State bank and the Hugo National bank were closed May City business men vesterday foreseeing the impending crisis made concerted effort to replenish the bank's cash, ending representatives quietly to surrounding towns in attempt to obtain money. They were unable, it to complete any negotiations in that direction. was indicated today that while there had been apparent on the bank recently, many depositors had gone nearby towns, principally Paris, Texas, and drawn the local institution through banks in those cities. Checks totaling were cleared yesterday from these sources and indicated their action closing the bank was stop this "indirect run,' in order to protect remaining depositors. The closing of the last remaining bank in Hugo created considerable suppressed excitement but there was no demonstration. statement from the directors of the bank is expected The failure the Hugo National and the Hugo State was attributed inability liquidate old cotton loans. good season last year improved conditions did not make loans to save the banks Hugo citizens. with only the cash they had in their pockets, caught optimism on the rebound and set themselves to work for better days. Recovering from the shock of the last bank's collapse, business men were predicting that the action would hasten plans the Hugo National, the largest reopening bank in the city. Plans already under way and the imperative need of banking facilities brought about the City National closing, garded as giving them added impetus.
Only Two Banks Open Only two banks are open today Choctaw county, small state banks at Ft. Towson and at Boswell. Both are located in villages but several Hugo business men sent there today for cash. Plans for continuing the business the city pending solution of the banking problem are indefinite. Business was prostrated at once after City National closing became known, almost all the money available in town being what citizens happened to have cash. Store keepers stood on the sidewalks and everyone discussed the situation virtual holiday was forced the Nugent Dodds, attorney for the office of the comptroller of the currency at Washington who here prosecuting cases federal declared that in all his experience he had not seen such exists here. He declared that far knew Hugo is largest city the United States without bank. The population here is about Deposits of the City National on April last, the date of its most recent statement, were Its capital and surplus was given resources and cash
7.May 28, 1925Daily SentinelRome, NY
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Business Hit Closing By Bank in Town of Only
Hugo, Okla., May town of 6,000 inhabitants today bank. sign on the door of without City National Bank informed the the yesterday that "for the protecpublic tion the depositors," the bank open. Business was standstill today only money pockand registers. Many persons attended baseball game yesterday, others played went fishing. their Lional Bank and the Hugo State closed May Both banks were unold loans. City Bank with capital and and came safely through the financial
Saturday depositors began from the City Na tional Bank, although there Officials of the bank asked for help available dollar leading every business men placed on deposit. neighboring cities additional funds brought little
8.May 28, 1925The TimesShreveport, LA
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Hugo, Okla., Business Comes to Dead Stop As City's Third and Last Bank Closes Doors
The Associated Press) Hugo day find out financial during the the the last the city The hard sign was for public Industry all kinds the virtually when business the money cash registe. their pockets which operate. Only two rating tutions Fort Towson and Hugo National bank and the Hugo unable old closed Ma) nearby town Soper National was closed the by the order of bank Possibility of merging the assets the three banks one institution being dislocal Under was propos bank should proportionate losses. Heavy withdrawals during the three were cause the City National bank's closing today by Leonard. president, in statement issued this afternoon. run the going cities issuing checks ClearTuesday alone amounted amount apcontinued operation the board did appearance dissipating their
9.May 28, 1925Times HeraldOlean, NY
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HUGO. Okla., May town of 6,000 without ban. sign today of the City National the door bank the public yesterthat the protection of day the depositors." the bank was not
Business was at standstill today. only money available in the pockets and cash Many persons attended baseball game yesterday. others played golf or went fishing. Three banks have closed their doors in Hugo this month.. The Hugo National bank and the Hugo State bank closed May Both banks were unable to quidate old cotton loans. The City National bank. with Ital and surplus of quested depositors, to limit withdrawals and caine safely through the financial emergenSaturday depositors began make heavy withdrawals from the City National bank. altho there was no Officials the bank asked for help and every available dolof leading business men was Loring citles to secure additional funds brought little aid.
10.May 28, 1925The Journal NewsHamilton, OH
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POCKET MONEY FOR FOLK OF THIS TOWN
Sole Bank In Hugo, Okla., Closes Doors To Protect Depositors
May Hugo, a town of 6,000 inhabitants, today is without bank. A sign on the door of the City National Bank, informed the public yesterday that for the protection of the depositers, the bank was not open. Business WHS at standstill today, the only money available being in pockets and eash registers. Many persons attended baseball game yesterday between two Sunday school teams, others played golf or went fishing. Three banks have closed their doors in Hugo this month The Huge National Bank and the Hugo State Bank closed May 6. Both banks were unable to liquidate old cotton loans. The City National Bank. with capital and surplus of $110,000 requested its depositors to limit withdrawals and came safely through the financial emergency. Saturday depositors began to make heavy withdrawals from the City National Bank, although there was no "run." Officials of the bank asked for help and every available dollar of leading business men was placed on deposit. Trips to neighboring clies to secure additional funds brought little aid. Tesday night the board of directors met and decided to close the bank "for the protection of deposi-
The City National Bank in statement issued April reported deposits of $380,203.1 capital and surplus $110,000. Whe reserve $401,and on hand
11.May 28, 1925El Paso TimesEl Paso, TX
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LAST HUGO, OKLA., BANK IS CLOSED
Citizens Have Only Money in Pockets and Cash Registers for Business. izens of Hugo were attempting tonight to find way out of the financial difficulties that resulted today in the closing of the third and last bank in the city. The City National bank surrendered after hard fight and sign on closed doors today informed the public it was not open for business. Industry of all kinds in the city virtually stopped when business men were left with only the money in their cash registers and their pockets, on which to operate. Only two banks operating in Choctaw county, small state at Fort Towson and Boswell The Hugo National bank and the Hugo State bank, unable to liquidate old cotton loans, despite bumper crop last year, closed May The Soper State bank at the nearby town of Soper, with the same directors as the Hugo National, was closed the same day, by order of O. B. Mothersead, state bank commissioner. Possibility of merging the assets of the three Hugo banks into one large institution being discussed by local business men. Under this plan, was proposed that depositors of each bank should accept proportionate losses. Heavy withdrawals during the last three days were attributed as the cause of the City National bank's closing to day, by W. S. B. Leonard, president, in & statement issued this afternoon. While there was no direct run on the bank. it was said that depositors were going to nearby cities and isuing checks on their Clearance such checks yesterday alone amounted to total of approximately $9,000. The bank could have continued operation borrowed money, Leonard declared, but the board of directors not wish to assume the appearance of dissipating their assets.
TOWN OF 6000 WITHOUT BANK
HUGO. Okla., May 28.-Hugo a town of 6,000 inhabitants, today is without a bank. A sign on the door of the City National Bank informed the public yesterday that "for the protection of the depositors,' the bank was not open. Business was at a standatill today. The only money available being in pockets and cash registers. Many persons. attended a baseball game yesterday between two: Sunday School teams, others played golf or went fishing. Three banks have closed their doors in Hugo this month. The Hugo National Bank and the Hugo State Bank closed May 6, Both banks were unable to liquidate old cotton loans. The City National Bank, with a capital and surplus of $110,000 requested its deposi. tors to limit withdrawals and came safely through the financial emergeney. Saturday depositors began to make heavy withdrawals from the City National Bank, although there was no "run." Officials of the bank asked for help and ever" available dollar of leading business men was placed on deposit. Trips to neighboring cities to secure additional funds brought little aid. Tuesday night the board of directors met and decided to close the bank "for the protection of depositors." Plans are being discussed to merge the three Hugo banks, depositors of each bank to accept a loss of approximately 25 percent of their deposits. The City National Bank in a statement issued April 6 reported deposits of $280,203.10. capital and surplus $110,000. the reserve $401,940.20 and cash on hand $62,568.94.
13.May 28, 1925The Antlers AmericanAntlers, OK
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ONLY BANK IN HUGO CLOSED TO PROTECT
Collapse Was Imminent as Result of Run Made on Bank for Several Days, Causing Directors to Voluntarily Close Temporarily
The City National Bank of Hugo closed its doors Tuesday afternoon when the directors decided to call bank examiner to make complete checkup of the bank's status in order to protect the large deposits, as sult of steady stream of withdrawals which began the latter part of last week, threatening complete failure. Just how long will be before the bank resumes operations is not known but every indication points to an early pending the outcome the investigation which it believed will restore the confidence of its customers and bring about normal conditions The closing of this bank marks the closing of nine banks Choctaw county since 1920, and the only two remaining banks in the county are the American National at Fort Towand the First National at Boswell. Coming right the heels of the three failures few weeks ago, the closing of the City National leaves Hugo and that section in deplorable condition, and the only be had by cooperation of all cerned in working for the best
14.May 28, 1925The Daily OklahomanOklahoma City, OK
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Weeds Will Choke Go Unless Aid Fields, Crops Unharvested, Comes; Planters Left and Crash High Dry by of the crops on farms Choctaw county, one heavy and counties of the state, will not be harvested this year. unless heroic measures taken finance following the failure Wednesday the bank in the city of Hugo, Waldo assistant state bank commissioner predicts. The City National bank of Hugo closed its doors morning the order the board directors. The Hugo National bank and Hugo bank closed the first time Oklahoma's history. that community persons has been entirely without facilities. Residents Hugo had any money not tied the defunct banks had no place keep but their hid persons their homes. Business houses kept their cash their vaults, while they made arrangements open checking accounts in banks at rant, Paris, Texas, or other
Not only depositors, but borrowers will be tightly pinched by the
Hugo men played two jokes Wednesday. One was to try to cash check of some business house; the other to quest change for bill of large Both requests brought laughter. closing of the Watkins pointed out. Farmers Choctaw county their cotton the ground and had made arrangements with Hugo banks to carry them picking time. Planters depended going to bank for advances of $25 growing have nothing but their
Their horses, cattle, chattels and land, they own all under mortgage to the banks now and cannot be used security for loans, the assistant commissioner plained.
With this situation before them, probably third the farmers Hugo district will be forced their lands weeds, lieved. Some of the less responsible ones has value since mortgaged than the amount the loan simleave other goods the receivers the county. Hugo merchants already are hard pressed many stockholders in the the skimpy buying to be expected during the few months will severe test on Hugo business houses, expected. Stockholders of the three doomed in almost every saw their entire fortunes melt away said. Most of these men Hugo men, and of them the disaster worth much derstood.
In spite of this, efforts will be made and reorganize least the M. Phillips, president of the defunct state bank in Oklahoma City aid Any reorganization old tutions start under heavy handi the opinion of the banking The failures caused by dead weight old cotton loans made back in the period inflation of and based on flated far better mode of relief; Watkins believed, would be the launching of
Every who person could get away Wednesday attended game between two teams in the Hugo Sunday school league; or played golf. Some took advantage of the "holiday" to go fishing. entirely bank Hugo by outside bank would have have capitalization least and preferably surplus start in order be safe, organizers would rock along for two years before expect profit. If such bank could started, lend money toward the making this only by obtaining year's crop waiver from the of the failed banks their prior claims the already mortgaged the farmers need The bankdepartment being to the best interests of the depositors the long Deposits the three failed banks composed aggregate Only two are left running Choctaw They small state Boswell and rush for withdrawals before the closing the City National bank, although depositors on their accounts through banks in cities. Large chose leave their deposits vaults in hope of carrying through the crisis.
15.May 29, 1925Hartford CourantHartford, CT
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OKLAHOMA TOWN WITHOUT A BANK
Third Institution Within Month Closes Its Doors in Hugo. of today is without bank. A sign on the of the City tional Bank informed the public yesterday that "for protection of the the bank Business standstill today The only money available in pockets and cash registers. Many persons attended baseball game yesterday between Sunday teams, others played golf went Three banks have doors in Hugo this The Hugo tional Bank and the Hugo State Bank closed May Both banks were able liquidate old cotton The City National Bank, caped its to limit and came safely through the financial Saturday depositors to heavy from the National there Officials of asked for help and every available dollar leading business deposit. Trips to cities to additional funds brought aid. Tuesday night the board of directors and met decided to close the bank "for the protection of depositors." Plans are being discussed to merge the three Hugo banks, depositors bank to accept loss of imately 25 per cent. of their deposits. City National Bank in stateissued April reported deof capital plus the reserve and cash on hand $62,568.94
16.June 6, 1925The Vinita Daily JournalVinita, OK
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Appoint Receiver For Hugo Bank
(By Associated Press) HUGO, June 6.-Roy A. Cooper, of Muskogee, receiver for the Hugo National bank, was appointed receivfor the City National bank of Hugo yesterday. The appointment was made by J. W. McIntosh, comptroller of currency. No announcemen thas been made concerning the re-organization although it is understood that definite plans is being formulated.
17.June 7, 1925The Ponca City NewsPonca City, OK
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HUGO NATIONAL BANK RECEIVER IS NAMED
Hugo, June Cooper receiver for the Muskogee, Hugo National bank, was appointed receiver for the City National bank of Hugo yesterday. made by Intosh, comptroller of the curBarker, national bank aminer, assets of the and Cooper will institution now take charge as soon as the invoice completed. has been made concerning the re-organization although it understood plans, that definite plan is being formulated.
18.March 19, 1927Muskogee Daily Phoenix and Times-DemocratMuskogee, OK
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HUGE BANK'S RECEIVER SUES 31 STOCKHOLDERS
Roy A. Cooper Files Petition in Federal Court Here to Collect Liability Assessments Thirty-one persons were named as defendants in a petition filed in federal court here yesterday. Roy A. Cooper. as receiver of the City National bank of Hugo, was the party plaintiff and the more than scbre of respondents were stockhold ers in the defunct bank, the petition says. Petitic seeks to get judgment in the sum of assessments made against the stockholders of the bank after it closed its door in May, 1925.
HUGO DEFUNCT BANK TO PAY NEW DIVIDEND
HUGO. Okla., June 9.-A dividend of 8 per cent out of assets of the defunct City National Bank of Hugo is Cooper, to be paid soon, according to Roy A. receiver. The bank suspended operation May 27. 1925. To date Cooper has paid to depositors $69 This will be increased dividend. more than $10,000 by the new
20.October 13, 1927The Southeast OklahomanHugo, OK
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Bank Receiver Winner Here When Court Sets Aside Property Sales
Roy Cooper, receiver for the City National bank of Hugo, was winner in an action In district court here Wednesday when Judge George Arnett set aside the conveyance extensive properties by Dr. Howell, appointed R. Blakeley, of Hugo, as receiver the properties, and ordered the same be sold and the proceeds applied indebtedness of Howell to the City National bank. The case was filed January 15, 1925, by the City National bank set aside conveyances made by Howell on the ground of fraud, after several executions issued on judg ments held by the bank had been tacked by alleged purchasers property levied upon. After Coop. appointment as receiver for the City National bank he was directed the comptroller of the currency proceed with the case and special officer of the department of justice was sent to Hugo to assist in gathering evidence. The trial was begun on September 30 and was concluded late in the afternoon of October after an examination of large number of witnesses, residents of Spen cerville and vicinity. At the conclusion of the trial the court reserved its judgment for the submission of briefs by the parties and rendered the final decision Wednesday afternoon. The properties involved in the judgment clude 480 acres of land in Choctaw county, 320 acres of land in Atoka county, 16 bales of cotton, gin at Sobol, at Spencerville, and an undetermined number of cattle. While the exact value of the propercould not be determined, the ceiver was ordered to give bond sum of $10,000. The case unique in the annals district court of Chectaw eounwhat Was denominated creditor's bill seeking the discovery property alleged to have cealed and the vacation of attempted conveyances of property by the delitor on grounds of fraud. The court the contention of the plaintiff in every instance and subjected certain property the course of the trial to the judgment of the court. The gist of the plaintiff's contention was scheme and conspiracy to conceal and transfer property and funds of the defendant, Dr. Howell. participated by the other defendants in the action which the court, in its judgment this Issue of The Southeast the evidence, and on account of which numerous transfers were set aside. The defendant set up claim homestead in 160 acres of the land involved but the court construed See: tion 1, Article 12, of the state constitution, to apply to villages, whethincorporated or not, and to restrict his claim to an urban homestead therein provided, allowing him two acres of land upon which he resides the village of Spencerville as his homestend exemption. This was the first time this exact question had been passed upon by Oklahoma courts. The indicated that motion for new trial would filed and, if denied, an appeal would taken to the supreme court. The suit originally was filed Dickson and Carter and McDonald and Trice on behalf of the City National bank during the period when B. Leonard was president that institution. At the trial the plaintiff was Dickson, Jordan and W. Trice. The defendants were represented by H. Stanley. to the filing of the suit Doctor Howell filed his petition in bankruptcy and was by federal grand jury out matters involved in That indictment still pending.
21.October 18, 1927Drumright Weekly DerrickDrumright, OK
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Hugo Bank Receiver Wins Court Victory
HUGO, Okla., Oct. 18.-Roy A. Cooper, receiver for the City National bank of Hugo was winner in an action in district court here when Judge George T. Arnett set aside the convenyance of extensive properties of Dr. Y. A. Howell, of Spencerville and ordered the same to be sold and the proceeds applied on indebtedness of Howell to the City National bank. Exact value of the properties could not be ascertained, but the receiver was ordered to give bond in the sum of $10,000 for handling of two farms, two gins and sixteen bales of cotton. Defendants will seek a new trial and in event that is overruled will appeal the case to the state supreme court.
22.February 4, 1928Drumright Weekly DerrickDrumright, OK
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Half Million Is Paid Choctaw Depositors
HUGO, Feb. 4.-A statement lividends paid depositors of three defunct banks of Choctaw county was made here in quarterly report issued by Roy A. Cooper, national bank receiver. Forty percent has been paid positors of the Hugo National bank 13 percent to depositors of the City National bank of Hugo, and 20 cent to depositors of the First National bank of Boswell. Total of dividends was fixed
23.February 23, 1928Pawhuska Journal-CapitalPawhuska, OK
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ROLLINS WINS IN (Con't from Page 1) other political honors should be sent to the democratic convention at Houston. Over fifteen hundred visitors were present in the city, it is estimated with 736 registering, and the estimated crowd at twice that many. There were over two hundred at the banquet last night. Visitors were loud in their praise of Pawhuska's hospitality, and many of them expressed the desire to return. This is the second convention of the organization that this city has received in five years, the previous one being held here in 1923. she shall not dance and that the agreement shall become void if she marries. The superintendent of schools in Kiowa County desires to place such a clause in the teachers contract, H. H. Porter, assistant state superintendent, wrote the Attorney General. The clause is as follows: "It is expressly agreed and understood that the party employed shall not attend any dance during the life of this contract. It is also agreed and understood that if the party hereby employed marries during the life of this contract, the contract becomes null and void." Whether Leap Year has anything to do with it, was not made plain but Lewis said that he intended to hold that prevention of marriage of school teacher is against public policy. He still is looking un law on the daneing clause.
Bank Receiver Dies HUGO Okla., Feb. 23 (P)-Roy A Cooper, 52, receiver for the Defunct Hugo National and City National banks here and the First National Bank of Boswell, Okla., was found dead today in his room in a local hotel.
Be up and doing, but mind whom you do.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
