Articles (Mar 1926 and Mar 1927) describe the closing of the First National Bank of Kiefer, appointment of a receiver (R. B. Butts) and subsequent criminal prosecutions for embezzlement. No run is described; closure followed investigation revealing embezzlement. The 1927 article discusses convictions related to the failure.
Events (5)
1.February 19, 1907Chartered
Source
historical_nic
2.March 3, 1908Voluntary Liquidation
Source
historical_nic
3.March 17, 1926Receivership
Newspaper Excerpt
R. B. Butts of Muskogee was named to receiver today for the First National bank at Kiefer .
Source
newspapers
4.March 17, 1926Suspension
Cause
Bank Specific Adverse Info
Cause Details
State bank examiner's investigation revealed embezzlement/unsafe financial condition leading to the bank being closed; officers charged with embezzlement.
Newspaper Excerpt
Trimble conducted the recent investigation into the financial condition ... which resulted in its being closed.
Source
newspapers
5.March 8, 1927Other
Newspaper Excerpt
The conviction marked the second step in the cases growing out of the failure of the First National bank at Keifer and the attendant failure of the Seminole State bank.; R. E. E. Steigleder ... was found guilty ... of misapplication of funds of the First National bank of Kiefer.
Source
newspapers
Newspaper Articles (2)
1.March 18, 1926Tulsa WorldTulsa, OK
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Article Text
SICKNESS DELAYS BANKERS HEARING
Star Witness Unable to Attend Trial of Kiefer and Seminole Bank Heads.
By the Associated Press State Wire WEWOKA. March preliminary hearing of W. C. Lauer and R. E. Owen, charged with embesale. ment in, connection with the closing of the First National bank of Kiefer Seminole State bank of Sem Inole, scheduled for Wednesday was veloped that M. C. Trimble state bank examiner and chief witness against the bank officials. could not attend on account of illness of his father. Trimble conducted the recent Investigation Into the financial condition of the Seminole institution which resulted in its being closed. Owen was cashier of that bank and Lauer is president of the Kiefer bank Both are held in the count Jail here in default of bond R. E. E. Steigleder, president of the Seminole bank, disappeared when It was closed and has not yet been found. He is also charged with enibezzlement.
Bank Receiver Named SAPULPA. March 17. R. B. Butts of Muskogee was named to ceiver today for the First National bank at Kiefer
2.March 8, 1927The Frederick LeaderFrederick, OK
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Article Text
BEGGS BANKER FOUND GUILTY CONSPIRACY
Defendant Is Guilty On Eight Of Seventeen Charges of Defrauding In Bank
Tulsa March R 1. A. Steigleder former Beggs banker Monday was found guilty by a jury in federal court of conspiracy to violate the national banking laws The jury. given the case at 3:07 o'clock. reported Its findings at 3:47 o'clock
17 Counts in Charge Steigleder. Indicted on seventeen counts. was found guilty by the jury on eight of them. The jury made no recommendation as to sentence Steigleder is expected to be sentenced by Judge F. E. Kennamer within short time. The conviction marked the second step in the cases growing out of the failure of the First National bank at Keifer and the attendant failure of the Seminole State bank. R. E. E. Steigleder. officer of the Seminole bank. pleaded guilty and was sentenced to twenty-five years in the penitentiary by state court. Steigleder was found guilty on the eight counts of conspiracy and misapplication of funds of the Seminole state bank and of the funds of the irst National bank of Kiefer. He was found not guilty of making false entries and of making false reports to the comptroller of the currency. involving nine counts of the
Brother Was Sentenced He is liable to penalty on the conspiracy count of two years in the federal penitentiary and a $10.000 fine. On the other counts the maximum sentence is five years and
