Commercial National Bank (Muskogee, OK)

Episode Information

Episode UID
1289001535
Episode Type
Run Only
Bank Type
national
Bank ID
128900 national
Charter Number
12890
Start Date
November 1, 1927*
Location
Muskogee, Oklahoma

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
4070796967621e46

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Fed/other loan, Public signal of financial health, Capital injected

Description

The bank experienced a run in November 1927 following the death of its president, but remained open with support from the Federal Reserve and local friends.

Events (3)

1. February 25, 1926 Chartered
Source
historical_nic
2. November 1, 1927* Run
Cause
Rumor Or Misinformation
Cause Details
False reports following the sudden death of the bank's president, David N. Fink.
Random Run
Yes
Random Run Snippet
false reports started a run on his bank; corrected by testimonials of confidence
Measures
The Federal Reserve Bank of Kansas City and wealthy friends provided liquidity to pay depositors.
Newspaper Excerpt
False reports started a run on his bank. Some depositors who did not know his sterling quality stood in line for their money
Source
newspapers
3. March 2, 1933 Suspension
Cause
Government Action
Cause Details
Mandatory state-wide banking holiday declared by Governor Murray of Oklahoma.
Newspaper Excerpt
The three-day holiday called Gov. Murray in Oklahoma for same period also is mandatory.
Source
newspapers

Newspaper Articles (3)

Article from The Oklahoma Banker, December 1, 1927

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Article Text

The Editor's Editor's Page AVID N. FINK, of Muskogee, died very suddenly on November 9 in a hotel at Wichita Falls, Texas. The news was a shock to his many friends, who thought him to be a man in good health and of great physical endurance. He organized the First National Bank of Grove, Oklahoma, and later became the President of the Commercial National Bank, of Muskogee, and has been identified with nearly every forward social, educational, commercial and civic movement that has concerned the welfare of Muskogee for many years. He was President of the Oklahoma Bankers Association in 1921 22. He was selected as Secretary of the Eastern Oklahoma Play Grounds Association. He was a pioneer, a good road builder, and was elected President of the Jefferson Highway Association for life. He was active in the Masonic lodge, Elks, Rotary, church, as well as the town and country clubs, In the strength of his sturdy manhood, he unwillingly surrenderd an iron constitution to a failDAVID N. FINK ing heart. admonishing us of the frailty of life at its best: but he had another heart-a heart that never failed. It overcame the inroads of early poverty that deprived him of a college education: it fought a successful battle against the rugged barriers that litter the path of the pioneer : it banished envy. smothered reproach, dethroned selfishness, and cnshrined him in the hearts of his fellows: it blazed the trail of an ambition that fought its way from obscurity to prominence; a heart that will project its unrestrained friendliness and gentle spirit down through the approaching generations long after all that is mortal has been entombed. False reports started a run on his bank. Some depositors who did not know his sterling quality stood in line for their money; while wealthy friends of Muskogee and other towns, as well as the Federal Reserve Bank of Kansas City, literally poured their thousands and hundreds of thousands over the marble slab at another window in mute evidence of their friendship and esteem for the man who had given so liberally of his time and fortune for his city and his friends. This rare and unsolicited testimonial of confidence brought the tears to his eyes, and established the intrinsic value of an unselfish life devoted to the needs of others. HERE, Mr. Banker, is an editorial on cotton. The author is unknown. He also seems to be indefinite and uncertain. However, he is frank. If you have a better definition for cotton send it to me and it will be published in The Oklahoma Banker: WHAT IS COTTON? Cotton is the overcoat of a seed that is planted and grown in the Southern states to keep the producer broke and the buyer crazy. The fiber varies in color and weight and the men who can guess the nearest the length of the fiber is called A cotton man by the public, a fool by the farmer and a poor business man by his creditors. The price of cotton is fixed in New York and goes up when you have sold and down when you have bought. A buyer working for a group of mills was sent to New York to watch the cotton market and after a few days' deliberation wired his firm to this effect: "Some think it will go up, some think it will go down: I do, too. Whatever you do will be wrong. Act at once." Cotton is planted in the spring, mortgaged in the summer and left in the field in winter. There are other definitions, but none better than this. THE BANKS OF TULSA believe that all work and no play makes Jack a dull boy. So Jack is preparing to meet the bowling team of the Bartlesville banks in a series of matches this winter. This spirit of friendly rivalry manifested itself in a series of golf matches. Eleven "pill pelters" from Tulsa recently crossed drivers with the select of Bartlesville on the beautiful Bartlesville course, resulting in a victory of two points for the home team. The return game was played on Tulsa's famous course, resulting in a victory of four points for the Tulsa team. They are to play off the tie early in the spring. In the meantime, the nineteenth hole fellows will have ample time to convince anyone who will listen that 'they excell with both the drive and approach, to say nothing of their prowess as a "put sinker." IRVING PAGE is now liquidating the First National Bank of Sallisaw, which failed to open its doors on October 24. Mr. Page managed the campaign of Senator J. W. Harreld, when he made the race for re-election, and has been active in liquidating many closed national banks in Northeastern Oklahoma during the last three years. Mr. Page has announced his candidacy for the republican gubernatorial nomination in 1930, and has been legally mentioned as suitable timber for the next leader of the Five Civilized Tribes, to succeed Shade Wallen, now under suspension.


Article from Las Vegas Daily Optic, March 2, 1933

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Article Text

SEVENTEEN STATES CHECK RUNS ON BANK Seven More Join Movement to Restrict Withdrawals of Deposited Moneys THREE AND FOUR DAYS TO BE TEMPORARY HOLIDAYS Situation Easing in Some States as Legislatures Planned Curb Laws Mississippi, Arizona, Nevada and in Oregon today joined the states. which there are limitations placed on the withdrawals of deposits from banks. in which limitations on withdrawals now exist. The proclamation of Gov. Ralph at San Francisco makes mandatory the closing of California banks (or three-day period ending Saturday The three-day holiday called Gov. Murray in Oklahoma for same period also is mandatory. The of Gov. Allen of Louisiana provides for the sation until the end of the week "all public business including Banks and other public enterprises." Mississippi the decree of state banking called only (Continued On Page Two)


Article from The Hobart Democrat-Chief, March 2, 1933

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Article Text

Lone Wolf Open But Just 'Changing'; Others Closed CITY. Mar. Extension of Oklahoma's bank day until Wednesday was recommended today by Bank Commiss sioner J. Barnett as the state government placed legislative and executive protection over the 453 Oklahoma banks and their depositors. The first flurry of excitement over, following Gov. W. H. Murray's three-day bank moratorium proclamation, state officials pared new stabilizing bill. Assurance of safety both banks and depositors was the keynote of the situation in Oklahoma. The unusual spectacle of such great confidennce is local banks that the institutions remained open today in the face of heavy demands occasioned by the state wide holiday was enacted at Idabel, Durant, Enid, Valliant and Alva. Bankers in these communities declared their situations so sound they saw no need of inconveniencing depositors. The redrafted bill authorizing the bank commissioner to banks under a plan of restricwithdrawals was being drawn up. The senate was prepared to suspend all other and send bill through its first stage. Preparing for immediate action, Speaker Tom Anglin called the house into session this morning without waiting for the scheduled m. meeting time. The bank holiday was declared, Murray explained, to give the islature time to enact lieve the proposed bill the bank commissioner sweeping power delay payment of deposits all banks, trust companies, savings banks and segregate deposits from old deposits, with no restriction on the new deposits. The bank virtual dictator over financial stitutions with emergency author needed rules and ity to adopt any daily reports. require SIXTEEN STATES HOLIDAYS TODAY BANK to restrict with. The movement of bank deposits spread drawals rapidly through the south and west last night and today states operated under decrees for bank holidays. CaliforMississippi, Oklahoma, nia, Arizona, Nevada and Oregon ordered brief bank holidays to give time for legislatures to draw withdrawals legislation limiting deposits. Louisiana went farther by orderholiday for all iness. The New Orleans cotton cotton market change, largest was closed. the country, Executives announcing the new holidays for forcing the other states restructions by placing tension of banks which unusual strain on an to continue business sought mally. ONE BANK IN ONLY STAYS OPEN COUNTY The First National bank at Lone Wolf was the only banking tution in Kiowa county which mained open today, and was just "making change," according made by the Demosurvey Banks here, at Mountain Cooperton, Mountain View and Snyder were all closed, was the one at Rocky. OREGON TOO Ore., Mar. Governor Meier today declared three-day legal holiday state Oregon starting continuing through