15732. Oilton State Bank (Oilton, OK)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 27, 1929
Location
Oilton, Oklahoma (36.085, -96.584)

Metadata

Model
gpt-5-mini
Short Digest
4dd2fbf149353afe

Response Measures

None

Description

Articles report Oilton State Bank was one of 12 banks that 'closed their doors' in late November 1929 (paper dated 1929-11-28), and a liquidating agent (Luster Cook) was named by the state bank commissioner (article dated 1929-12-04). No run is described; the closures followed the death of McCauley, who had been president of many of the banks. Therefore the bank suspended and was placed in liquidation/receivership (permanent closure).

Events (2)
1. November 27, 1929 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closed along with 11 other banks following the death of McCauley, who was president of most of the institutions.
Newspaper Excerpt
12 BANKS CLOSE; ... Oilton State bank, Oilton, deposits capital $25,000. ... Shull indicated there pos:lbility that the banks at Henryetta and possibly one or two others might reopen soon.
Source
newspapers
2. December 4, 1929 Receivership
Newspaper Excerpt
Luster Cook, mayor of Oilton, as liquidating agent for the Oilton State Bank; ... named liquidating agent for the failed Henryetta State Bank by Graves Shull, state bank commissioner.
Source
newspapers

Newspaper Articles (2)
1. November 28, 1929 Okmulgee Daily Times Okmulgee, OK
Article from Okmulgee Daily Times, November 28, 1929

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Article Text

12 BANKS CLOSE; 1920 CAUSE OF CRASH (CONTINUED FROM PAGE ONE) deposits, $62,000; capital, $25,000. First State bank, Vian; deposits, $73,000; capital, $10,000. Citizens State bank, Webbers Falls: deposits $157,000; capital, $15,000. Davenport State bank, Davenport: deposits, $151,370; capital. Oilton State bank, Oilton, deposits capital $25,000. First State bank, Terlton. $76,000; capital $10,000. State bank, Avant, capital $15,000. Keystone bank, Keystone, posits capital $10,000. Bank of Kelleyville, deposits 14,000: capital $10,000 The bank which McCauley controlled and which did not close Its doors, was the American State bank of Porum. Shull indicated there pos:lbility that the banks at Henryetta and possibly one or two others might reopen soon.

2. December 4, 1929 Henryetta Daily Free-Lance Henryetta, OK
Article from Henryetta Daily Free-Lance, December 4, 1929

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Article Text

Whitenton Named Liquidating Agent Defunct State (By Associated Dec. Whitenton of Henryetta was named liquidating agent for the failed Henryetta State Bank by Graves Shull, state bank commissioner. The bank was one of 12 which closed their doors last Wednesday following the death of McCauley, who was president of all except three of the Late yesterday Shull named Luster Cook, mayor of Oilton, as liquidating agent for the Oilton State Bank; Bobo, former state senator, liquidating agent for the Sapulpa State Bank: and Morris of Mounds liquidating agent for the Bank Mounds. The said he expected to name liquidating for the other eight failed institutions later MAKES On being questioned this afternoon concerning his appointment, Mr. Whitenton stated that had not been formed concerning matter and could not definite statement to make until he had been better acquainted with the condition now existing in the bank. He said that he had been out of town all morning, which probably officials failure to notify him. explains His appointment officially relieves M. deputy bank commiswho has been in charge of the sioner, institution since closed its doors Wednesday.