15545. Farmers & Merchants Bank (Chouteau, OK)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
October 18, 1927
Location
Chouteau, Oklahoma (36.186, -95.343)

Metadata

Model
gpt-5-mini
Short Digest
b666188e4ea79713

Response Measures

None

Description

Two contemporary articles (Oct 18–19, 1927) report a run on the Farmers & Merchants Bank in Chouteau, OK that led the bank to fail to open and be placed 'in the hands of the state banking department.' OCR variants of the town name (Chocteau/Choteau) corrected to Chouteau. No reopening mentioned; bank placed under state banking department control, so classified as suspension leading to closure.

Events (2)
1. October 18, 1927 Run
Cause Details
Article reports 'growing withdrawals' and a run but does not specify a triggering rumor, adverse disclosure, or outside bank failures.
Newspaper Excerpt
Following a run yesterday, the Farmers and Merchants bank ... failed to open its doors.
Source
newspapers
2. October 19, 1927 Suspension
Cause
Government Action
Cause Details
Bank failed to open and was placed in the hands of the state banking department after growing withdrawals; state authority took control.
Newspaper Excerpt
A sign announced the institution was in the hands of the state banking department.
Source
newspapers

Newspaper Articles (2)
1. October 19, 1927 The Enid Morning News Enid, OK
Article from The Enid Morning News, October 19, 1927

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Article Text

RUN CAUSES BANK TO CLOSE DOORS CHOCTEAU. Okla., Oct. Following a run yesterday. the Farmers and Merchants bank, state institution here, today failed to open its doors, A sign announced the Institution was in the hands of the state banking department. The bank will pay its depositors in full, It was announced by Gordon B. Lindsey, president. It carried approximately $50,000 in deposits, he said, and was in "very good" condition. He said it was decided to close because of growing withdrawals. The bank was the only one in Chocteau.

2. October 21, 1927 The Duncan Banner Duncan, OK
Article from The Duncan Banner, October 21, 1927

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Article Text

RUN FORCES STATE BANK TO CLOSE UP Choteau Institution Will Pay Depositors in Full and Was in Good Shape: Choteau, Okla., Oct. 18.-Following a run yesterday, the Farmers and Merchants Bank, a state institution here, today failed to open its doors. A sign announced the institution was in the hands of the state banking department. The bank will pay its depositors in full, it was announced by Gordon B. Lindsey. president. It carried approximately $50,000 in deposits and was in "very good" condition. He said it was decided to close because of growing withdrawals.