Bank of Oklahoma - Chandler, OK

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: August 10, 1892
Location: Chandler, Oklahoma (35.702, -96.881)

Metadata

Model: gpt-5-mini
Short Digest: 3ad15ce2e9293012

Response Measures

None

Description

Article (1892-08-10) reports the failure of the Bank of Oklahoma in Chandler: liabilities exceed assets, friends deposited $2,500 for a settlement to pay 90 cents on the dollar. No run is described; the bank appears to have failed/closed with creditors negotiating settlement. No explicit receivership mentioned in the text.

Events (1)

1. August 10, 1892 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank insolvency: liabilities exceed assets; bank described as 'failure' with creditors negotiating settlement.
Newspaper Excerpt: The failure of the Bank of Oklahoma has somewhat affected business. The total liabilities are $5,864.61 and the assets $5,425.45. The sum of $2,500 in cash has been deposited ... If a settlement is agreed upon now by the creditors, the money will be immediately turned over and the bank will pay 90 cents on the dollar.
Source: newspapers

Newspaper Articles (1)

1. August 10, 1892 The Wichita Daily Eagle Wichita, KS

Article from The Wichita Daily Eagle, August 10, 1892

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Article Text

favoring the candidacy of Frank Dale of Guthrie, and the other that of Judge Turner of Oklahoma City. Colonel Clark, a lifelong Democrat, and an ex-Confederate, was made chairman. The preliminaries having been dispensed with, the convention proceeded to vote for eighteen delegates, and selected the following gentlemen: Louis Wharton, R. P. Martin, M. D. Woodruff, Dr. Partridge, W. L. Emerson, M. R. Gillett, John Moore, J. M. Clark. F. W. Klegg, T. A. Stockslager, J. M. Hale, Frank Johnson, M. P. Oberlander, J. R. Gray, Frank Diamond, B. G. Gunn. The committee on resolutions reported the following, which were unanimously adopted: "Be it resolved by the Democratic party of county A, Oklahoma, in convention assembled: "First-We favor home rule. and declare our emphatic opposition to the importation of irresponsible and incompetent men from abroad to fill our offices, draw the salaries and perequistites thereto belonging, and pay their grocery and butcher bills elsewhere. "Second-We indorse the declaration of principles enunicated in the national Democratic convention at Chicago, June 21. "Third-We are in favor of keeping in line with the history and traditions of a party that has lived hopefully in defeat and acted wisely and faithfully toward the whole people in victory, and to this end we declare ourselves in favor of a fair and just representation, and believe that the county of A, which we represent, is entitled to eighteen delegates in the congressional convention to convene and be held at Oklahoma City on the 17th inst., and earnestly favor the selection of said number. "Fourth-We attest by our united approval the wisdom displayed by the national Democratic convention in the selection of a standard bearer who has now, and ever has had, the courage to oppose and defy the monied monopolists and the machine politicians at the cost of temporarv defeat." Judge Turner of Oklahoma City, upon invitation, addressed the convention in his own interest. Mr. Turner is a rising attorney, and made an excellent impression. He arraigned the grand old party for its shortcomings and declared that the only hope of this country being rescued from its present condition of bondage to monopoly was in the election of Grover Cleveland. He was followed by Mr. Bray, who tackled the tariff question. This was a little too much, with the thermometer registering 100 degrees, and the faithful began to steal quietly away. The convention was harmonious and adjourned with the consclousness of duty well performed. Dennis Flynn is gaining votes every day and will run ahead of his ticket in county A. His energy and loyalty to his friends commend him to a large number of Democrats and Alliance men as the safest man to send to Washington to look after Oklahoma's interests. CHANDLER NOTES. There is considerable sickness here, mostly typho-malaria. It is caused, in a measure, by exposure and the disposition on the part of many, to drink surface water. The springs, clear as crystal, which abound prove fatal to the unwary. Those who use well and cistern water are not affected. Te same condition of things obtained in Guthrie the first and second summers of its existence. The failure of the Bank of Oklahoma has somewhat affected business. The total liabilities are $5,864.61 and the assets $5,425.45. The sum of $2,500 in cash has been deposited with Peter S. Hoffman by the friends of the bank. If a settlement is agreed upon now by the creditors, the money will be immediately turned over and the bank will pay 90 cents on the dollar. This will leave the creditors the right of action against the bank as a corporation for the balance due them. Under this settlement W. D. Tvler. W.D.