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Oklahoma Bank Closed. Enid, Okla., April 20.-The Citizens Bank, one of the largest here, closed its doors today and a receiver will take charge. William Kennedy, the President, who returned today from Kansas City. said he believed that every cent of llabilities would be paid in full. -The fallure was caused by slow collections and Inability to raise ready money. No state. ment was issued. The bank was established in 1893.
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Personal Mention, C, C. Knelsley returned to the city this morning. | W. C. Wells of Stigler, I. T., is in the city today. | J. R. Cottingham spent yesterday in Kansas City, | Sheriff Grace of Pottawatomi county, is in the city. Judge J. H, Maxey of Shawnee, was in the ci y over night. John Foster and M. A. Thompson of Lawion, are in the city. | Dr. W. C. Gorman of Wellington, Kas., was in the city today. Mrs. C. M. Barnes is home from a month's visit to Hot Springs. Dr. Duke has returned from a professional trip over the Eastern Okla homa. Captain and Mrs. J. V. Admire of K ngfisher, are visiting friends in Guthrie. Mrs. W. B. Herod and daughter, Mrs. J. Witzer, have returned from a visit to Texas points. -Mr. and Mrs. Fred Wenner left last night for St. Louis to atend the opening ceremonies of the World's Fair. J. A. Potwin will leave tomorrow for Des Moines, Iowa, where he will take a position with the Iowa National bank. | Mrs. H. E. Derwin left this afternoon for Caldwell in response to a telegram from Mr. Derwin announcing that his sister was dying. Dr. Paul Nesbitt, publisher of the Watonga Herald, was in the city yesterday. "Blaine county will roll up a Democratic majority this fall," said Doc. Bank Commissioner Cooper and Major Pentecost have returned from Enid where they have been examining the condition of the defunct Citizens bank of that place. Mr. Cooper states that application has been made to Judge Beauchamp for the appointment of a receiver for the bank.
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Denton Named as Receiver. Enid, May 3.-Robert Denton was appointed receiver for the defunct Citizens' bank this afternoon by Judge Beauchamp Mr. Denton has taken charge of the affairs of the bank and will shortly issue a statement of the bank's contention. Three men sought the place, but the court appointed Denton. He is only 26 years of age.
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approves the nomination of Judge Parker for President. Cashier and Assistant Arrested. Enid, Okla., May 23.-H. H. Walker, cashier, and W. H. Dugan, assistant cashier of the defunct Citizens Bank of this city, were arrasted today on warrants issued by County Attorney Sturges, on the charge of receiving money for deposit in the bank when they knew that the institution was in a failing condition. The wrecked bank is in the hands of a receiver.
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CONDITIONS ARE IMPROVING. Receiver Finds Additional Assets that Are Available. Enid, O. T., May 28.-Assets of the Citizens bank are turning out daily, some coming from places not on record, and the conditions are improving under the efforts of Receiver Denton, says the Eagle. Yesterday he made a trip out of townno matter where-and returned with $21,843, which was considerable of a "find" as that amount of money was added to the known assets, for the fist time yesterday. Up to now the receiver has deposited $56,000 of the bank's assets in the Bank of Enid. This is 25 per cent of the entire deposits. The find yesterday amounted to 10 per cent of the deposits. If there is any chance for the bank reorganizing, it is 'with the receiver. If he can collect the assets of the bank the bank can then open without trouble. With the assets tied up by individual depositors to secure their deposits it is impossible to collect or settle them and turn the money into the bank. There is no question but that the United States Fidelity and Guaranty company wanted to locate some of the assets of the bank in order to protect the loss sustained by the company in protecting the county's deposits. Receiver Denton's action in refusing, and Judge Beauchamp's action in sustaining the refusal, are generally commended. The depositors are all entitled to equal rights in the settlement of the bank's affairs, and the discrimination asked would not be following a policy that is justice to the other individuals interested.
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# Isenberg Pinched. Enid Eagle: J. L. Isenberg, editor of the Enid Daily Wave, was arrested yesterday evening on a charge of criminal libel on W. S. Denton, a local attorney, and father of Robert Denton, receiver of the defunct Citizens' bank. Isenberg gave bond in the sum of $700, and the date of the preliminary will be set tonight. Since the failure of the Citizens' bank, in which the Wave editor lost $1,300, he has constantly paraded the names of those who have been con-
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MUCH MONEY MISSING. Ten Thousand Dollars Disappears From Assets of Enid Bank. The statement is made today that the receiver of the defunct Citizens' bank of Enid has missed $10,000 additional of the bank's assets and is making a still hunt to recover them. It is understood, too, that suspicion lies in several quarters and that a surprise, equal to that which came out when the $21,000 assets were located in the possession of the late assistant bank commissioner may be anticipated. Receiver Denton is proving the right man in places. He has done much already toward bringing in the entire assets of the banks, and further developments may be expected from his investigations. Governor Ferguson is in Shawnee, ostensibly to make a Chautauqua speech, but also it is said to interview Bank Commissioner Paul F. Cooper further relative to the conditions of the defunct bank. Some time ago, during last week, the gor. ernor made the statement that Cooper's resignation would be accepted within two minutes after being tendered, but so far as known coper has not yet resigned. Relative to the 1 atters adition of the bank's assets, is believed that the governor, when stating that Coopers resignation would be accepted, meant that he held the conmissioner or his assistant responsible, to a certain extent at least, for the bank's condition, charging them with carelessness or negligence.
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LEADERETTES. Socal Happenings of City and Territory Briefly Told. The position of agency physician at the Ponca Indian agency has been abolished. Within a radius of six rulles of Shawnee no less than six oil and gas wells, are now being drilled. Confederate vetrans in the Chickasaw nation will hold a reunion at Sulphur Springs, July 21, 22 and 23. Douglas, that splendid little town along the Denver, Enid & Gulf line, will celebrate the glorious Fourth. Bank Commissioner Paul Cooper is busy republishing side lights on the Tailure of the Citizen's bank of Enid. Enid Events: Harve Olds has q ot the newspaper business for good. He is 1'0W teaching suinmer sebool at Guthrie. Teaching the boys how to à wak the bronchc. J. Ralph Barton is representing a number of Kansas capitalists who are preparing to hoom the town of Dewey, in the Cherokee nation, and make It a rival of Bartlesville. W. H. Darrough is home from the Chicago convention. and has come forward with an "I regret to say,, statement concernting the omission of a statehood plank from the platform. | Joseph Meiberger president of the Oklahoa World's Fair commission is a candidate for the Republican nomination for register of deeds of Garfield county He was twice mayor of hald. The Midland Valey Railroad has notified Muscogee that it will make that a division headquarters if the city will give the road a piece of ground which they desire for their Bufldings and $25,000. À Blackwell woman was using a gasoline Natiron recently when a blaze commenced to run out over the iron caused by a leak. She had scarcely thrown it out of the wirdow when If exploded, making a report that sonnded like the discharge of a gun. Banty Gano, day clerk at the Royal sells sickets at a dollar apiece for the Louisiana Trust & Banking company, of New Orleans, and one of the recent purchasers was O. W. Roberts who Dravels for Marshal Fields. The num) * was 58461 and drew $300 for Mr. Rioberts. "De-acon" Banks of Enid, who threastened to appeal to the organic act 110 protect himself from arrest for allowing six geese and three goslings
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CITIZENS BANK STATEMENT. Lengthy Document Setting Forth Condition of Defunct Bank Issued. | Receiver Robert L. Denton of Enid. has made public a statement setting forth the condition of the defunct Citizens' bank. The report sets forth in facts and figures in detail, all the resources and liabilities of the bank, and is quite a length document. According to the report, which names the debtors of the bank and the amount of the note owed by each, the total assets amount to $239,251.10. The total liabilities are: Deposits, $184,377.19; certificates of deposit, $13,536.74; due to banks, $18,631.60; outstanding drafts, $15,635.05; bins payable, $25,276.88; total, $257,446.88. The statement was issued in response to a strong public sentiment
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ANOTHER SUIT. Papers Filed in United States Court For Claim of $11,266 79. | Enid, Okla., Aug. 19.-Suit in the United States dis rict court in and for Garfield county, has been filed by the Enid Mill & Elevator company against Wm. Kennedy, H. H Watkins and N. C. Wathins. The amount claimed is $11,266.79 alleged to be due to plaintiffs on account of deposits in the Citizens bank at the time it suspended, April 20, 1904.
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Why Do Banks Fail? Every bank failure that has occured in Oklahoma in the past two years could have been prevented had the proper examination been made as contemplated under the laws now in force. The utter ruin of several good men the serious financial crippling of hundreds more, and a general lack of confidence in all banks has been the price of penurious economy on the part of the territory in conducting the bank examiner's office. Every bank should be examined by a competent man at least twice a year and four times a year would be better. Had this been done, neither the Capital National at Guthrie, the Citizens Bank at Enid, the Bank of Beaver City, or any other bank in Oklahoma would have failed. All failed from causes which, if known in time, would have been remedied. Both the Citizens Bank and the Capital National failed because they were run along political instead of business lines. Had a competent man examined them before the abuses and irregularities responsible for their downfall had gone too far, he would have called a halt, and no depositor would have lost anything. As for the Bank of Beaver City, we are informed that less than ten per cent of its capital stock was ever paid in, and that soon after its organization the president "borrowed" $14,000 from it on his personal note, without security This condition would have been known, and remedied in time, had proper examinations been made. The bank examiner must not be blamed too strongly for these conditions, for there is four times as much work to do as it is possible for him to attend to with his present force. The safety and solidity of banking institu. tions is absolutely necessary, not only to the general welfare, but for the ordinary daily transactions of business. Banks are useful in two ways, principally, to take care of other people's money, and to loan money on proper security. The safety of the depositor's interests is the first and all-important point, and those bankers who keep this in view seldom or never get into trouble. It is the fellows who are too Joose in the matter of loans, or who engage in wildeat speculation. that cause the trouble. Comparatively few banks are wreased by straight robbery such as the officials absconding with the depositor's money. In almost every instance wherein a banker has departed with a satchel full of money it proved to be only the last net of wrecking the institution; that the record for months back was bad, and that a careful examination at the proper time would have disclosed the true state of affairs and provented a serious loss. Probably no banker in this country ever intended at the outset to wree his bank. It almost invariably takes months of bad management or misplacing of funds to do the work, and during these months is the time to defeet the real conditions. and stop the drift toward failure, This can b done by an eff etive sy stem of exam-
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PRESS COMMENT. Enid Eagle (rep.): When Cade and his crowd accuse Ferguson of countenancing a graft. they accuse the national administration also, for it had all the evidence which the governor had, and all that was recently published. Stick a safety pin here: Had Grimes and Ferguson been guilty of what certain injudicious and irresponsible republicans now charge them with, they would not have been holding office in the year of Our Lord, 1905. Enid Wave: Bill Grimes denies that be owned any santariam stock: Jake Admire denies that he misappropriated any federal funds: Honest Tom denies that be could either see or stop a graft on the territory; Horace Speed denies that he bribed a county commissionerIt looks like the republican politicians were all on the defensive. But why don't some of them prove what the say? Did anybody think they would confess? Enid Wave: An exchange says: 'No. no gentlemen; you can not escape publie censure, if you never get more deserved punishment. The failure of the Capitol National bank of Guthrie and the Citizens bank of Enid is the culmination of n gigantic scheme of a set of puble officials assisted by others, to use puble utilities for private gain, and all this defense in the newspapers is but Titanic struggle to keep the transaction covered and hang to the benefits derived. This asylum ban's -failurewheat -elevator -asphaltum -company get- rich -quick - building - association gangrene has set so deep that the wheels of justice in the courts of Oklahoma are Impeded. being unable to grind the numerous politico-commercial bodies in their way. If President Roosevelt desires to clear up all the mystery about the asylum, bank failure, and other transactions, he should remove Dennis T. Flyon as the attorney for the receiver of the Capital National bank." This move would not be a bad one but why no: begin direct with the court itself, and clean out the Enid gaag? Ponca Courier: Jerry Johnson says that Anna Eva Fay told the razor-back delegation to Washington that Okiahome not get statehood for five years yet. Now, what in hell did those fellows stir Anna Eva up for? There are enough stumbling blocks in the road, anyway. Ponca Courler: Cash Cade is quoted as saying that he has no designs on the office of United States marshal or any other office. If we may believe what we read in the papers. however, there are several offices which have designs on Mr. Cade-a case of the office seeking the man, as it were. e Wals ga Herald: Cash Cade says the e McG we people want no favors of the Guilarle Capital. The Capital has fought McGuire relentlessly for two years. Ponea Courter: It is announced that IS as soon as his term of office expires Governor Ferguson will go to Washington for the purpose of ascertaining "who's who" in Oklahoma affairs. The governor outht to be able to learn that without making a trip to Washington. S Governor Forguson in Watonga Rea publican: Amos Ewing was down from Pawhaska to attend the pie-slicing at a Guthrie last week. Amba officiated at the door and admitted callers to the room occupled by the coming governor with the air of a Chestorfield, Governor Ferguson in Watonga Republican: There the well known can dition extant about the fellow who warmed to life a frecking smalley and as a reward WAS bliton by the repille, The latest report. however, is to the effect that the snaka was killed as a return for treachery. 1 Goverror Forguson in Walonga Re8 publican: While acting as doorkeeper to admit visitors who desired to see Captain Frantz at the plé-cutting at Guthrie last Saturday, Amos Ewing was
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PERSONAL MENTION Nathan Razey is here today from Enid. Fred A. Arlon is in the city today from Enid. Lea Lohr is here today from Cleveland on business. Attorney Robert A. Lowery ls in town today from Stillwater. Mr. and Mrs. J. E. Stone were here from Perry over Sunday. Dr. Fred S. Selds was here from Perry over Sunday visiting friends. S. A., Williams, R. D. Smith and J. L. Johnson are here from Marshall, Professor Lowden left this morning for Prague after a pleasant visit with Rev. Ira L. Holbrook. | Attorney J. W. Scothorn returned yesterday from Pawnee, where he has been attending court. | Chancellor Bradford. of Epworth university, at klahoma City, was here this morning. on business. Attorney and Mrs. S. L. McGee, of Pittsburg, Pa., are here this week. Mr. McGee wil probably locate in Guthrie. I Lee Bernstein is here today from Oklahoma City and will remain-two or three days looking after business interests. I Judge Hainer. Deputy Marshals Van Abernathy and J. M. Jacobson and Ballift Roger Merrill went to Pawnee this morning. I Robert Denton, receiver of the defunct Citizens bank at Enid. returned home today after having been here several days on business.