15831. Liberty National Bank (Tulsa, OK)

View Charter #10262 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
10262
Charter Number
10262
Start Date
October 1, 1923*
Location
Tulsa, Oklahoma (36.154, -95.993)

Metadata

Model
gpt-5-mini
Short Digest
01f138aac4fcfc52

Response Measures

None

Description

Multiple articles describe the failure/crash of the Liberty National Bank of Tulsa (dates given as October 1923 in several accounts, one says early 1924). Coverage centers on alleged irregularities, accommodation notes and insolvency by the Lewis brothers; no article describes a depositor run prior to suspension, but the bank did fail and defendants were later tried. Date of failure ambiguous in sources (Oct 1923 vs early 1924); I use October 1923 for the failure/closure event since several items state crashed in October, 1923.

Events (4)
1. September 16, 1912 Chartered
Source
historical_nic
2. October 1, 1923* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank collapsed due to alleged irregularities, heavy accommodation notes, inability to realize assets, and insolvency involving the Lewis brothers; examiners and creditors pressured settlement prior to crash
Newspaper Excerpt
the Liberty National crashed in October, 1923
Source
newspapers
3. January 8, 1924 Voluntary Liquidation
Source
historical_nic
4. May 7, 1925 Other
Newspaper Excerpt
Lewis and W. L. Lewis, brothers charged with irregularities in connection with the failure of the Liberty National bank of Tulsa, will be tried ... starting May 14. The Liberty bank failed in Tulsa early in 1924. ... a federal grand jury indicted the brothers on 23 counts.
Source
newspapers

Newspaper Articles (7)
1. May 7, 1925 Henryetta Daily Free-Lance Henryetta, OK
Article from Henryetta Daily Free-Lance, May 7, 1925

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Article Text

WILL TRY THE LEWIS AT HUGO By Associated HUGO, Okla., May E. Lewis and W. L. Lewis, brothers charged with irregularities in connection with the failure of the Liberty National bank of Tulsa, will be tried in United States district court here, starting May 14, Frank Lee, United States dis. trict attorney for the Eastern Okla homa federal district, has announced. The Liberty bank failed in Tulsa early in 1924. Sometime later after an investigation by federal bank inspectors, a federal grand jury indicted the brothers on 23 counts. Original plans called for trial in Tulsa. Later Muskogee was fixed as the place and then Federal Judge R.L. Williams of the Eastern district designated Hugo. Attorneys for the defense are expected to submit a motion to have the case transferred from the eastern distriet to the northern district which would mean the case would be tried in Tulsa, Bartlesville, Pawhuska or Vinita. About TOO witnesses will summoned.

2. May 25, 1925 Henryetta Daily Free-Lance Henryetta, OK
Article from Henryetta Daily Free-Lance, May 25, 1925

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Article Text

Associated HUGO, May Lewis, defendant with his brother, Lewis, on trial in Unted States district court, on charges of irregularities connection with the failure of the Liberty National bank at Tulsa, testified today that number of "accommodation" notes, obtained from Tulsa business men were necessary to tide him and his brother over personal crisis that threatened the safety of the bank. Lewis said that early in 1922 they owed $750,000 to banks Kansas City, New York and Tulsa: that their assets at the time were about $1,000,000, but that they could not realize on them and that their creditors were threatening knew that if sued any large amount would bring run on the Lewis said, "and protect the bank, negotiated these loans." Lewis said that the indebtedness was reduced to approximately by that The witness assailed Roberts, examiner for the Tenth Federal serve district, alleging from the stand that in at Kansas City few months before the Liberty tional crashed in October, 1923, Robhad forced them to agree to possible terms of settlement.

3. May 25, 1925 Bartlesville Examiner-Enterprise Bartlesville, OK
Article from Bartlesville Examiner-Enterprise, May 25, 1925

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Article Text

LEWIS ON WITNESS STAND HUGO Denies Truth of Statements of Many Prosecution Witnesses (By the Associated Press) HUGO, Okla, May defense in the of Lewis and Lewis. brothers, charged with irregularities in connection with operation of the defunct Liberty National bank at Tulsa, rested its case 3:05 o'clock this aftermoon. (By the Associated Press) HUGO, Okla., May Lewis, co-defendant with his Lewis. on trial the ther. United States district court on charges of irregularities in nection with the failure the Liberty National bank at Tulsa, man fied today that number of commodation notes" obtained from Tulsa business men were necesto tide him and his brother sary over personal crisis that threatened the safety of the bank. Lewis said that early in 1922 they owed approximately $750,000 to banks in Kansas City, New York and Tulsa, that their assets the time were about but that they could not realize on them and that their creditors were threatensuit. knew that if sued large amount, would in any bring the bank." Lewis run on said, "and to protect the bank negotiated these loans. Lewis said that the indebtedness fairs reduced approixmately $200,was 000 by that method. The witness assailed K. Roberts, examiner the tenth federal mean reserve district, alleging from the stand that in conference he City few months before Kansas Liberty National crashed the 1923, Roberts had forced October, duce them to agree to impossible terms of settlement. promising them that he would "clean or close The conference which directors of the bank agreed much of the alleged bad assume held by the bank. Lewis paper said that he and his brother drew up an agreement looking to an justment but that Roberts refused to accept it, declared lacked "punch." "I'll write one with punch the witness quoted the aminer as saying. Robertson then He brought in an agreement to retire the notes which Lewis said impossible of fullfillment, and forced the brothers to sign it. Lewis subjected to severe cross examination by Nugent Dodds, special government prosecutor, after time denied flatly the truth of statements made by many prosecution witnesses. "Isn't true that saw the crash coming and were doing your best to get stake before was too late?" Dodds asked. not," the witness replied. Another emphatio disclaimed followed when Dodds demanded the Lewis brothers to keep knowledge of the bank's affairs and of the 'accomodation' notes from the board of directors," months just the bank failed.

4. May 25, 1925 The Daily Ardmoreite Ardmore, OK
Article from The Daily Ardmoreite, May 25, 1925

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Article Text

TRIED TO SAVE BANK, LEWIS' PLEA IN COURT Brothers Worth Million in 1922: Pressed for $750,000 and Suit Meant Bank's Failure. Lewis, co-defen dant with his E. Lewis on trial in the United States district court on charges conneotion with the failure of the Liberty Na. tional bank at Tusa, testified that the number that had been obtained from Tulsa men tide him and his brother over personal crisis that threatened the safety the bank. Feared Run on Bank Lewis said that 1922 they owed approximately to banks Kansas City, New York and Tulsa and that their assets at the time were about but that they could not realize them and that their creditors were threatening knew that were sued large amounts would bring run on Lewis said, "and to protect the bank negotiated these loans." Blames Federal Reserve Lewis said that the was reduced approximately that method. The witness Roberts, examiner for the tenth federreserve alleging from the stand that in conference Kansas City month before the Liberty National crashed October, 1923, Rob. had forced them to to agree impossible terms of settlement.

5. May 25, 1925 Muskogee Times-Democrat Muskogee, OK
Article from Muskogee Times-Democrat, May 25, 1925

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Article Text

LEWIS ASSAILS BANK EXAMINER WHILE ON STAND Declares Federal Official Drew Up "Impossible" Agreement to Protect Bank Associated Press. Hugo, Okla., May L. Lewis, co-defendant with his brother, Lewis, on trial in United States district court on charges of irregularities in connection with the failure of Liberty National bank at Tuisa, testified today that number of "accommodation" notes obtained from Tulsa business men were necessary to tide him and his brother over a personal crisis that concerned the safety of the bank. Lewis that early in 1922 they owed approximately $750,000 to banks Kansas City, New York and Tulsa, that their assets the time were about one million dollars, but that they could not realize on them and that their creditors threatening suit. knew that if we were sued in any large amount, would bring run on the bank, Lewis said, protect the bank we negotiated these loans." Assails Bank Examiner Lewis said that the reduced to approximately by that method. The witness assailed Roberts, examiner for tenth federal reserve district, alleging from the stand that in Kansas City few months before the Liberty crashed in 1923, Roberts had forced them agree to terms of settlement, promising them that he would "clean us or close The conference was one at which directors the bank agreed assume much of the alleged bad paper held the bank. Lewis said that he and his brother drew up an agreement look. ing to adjustment but that Roberts refused to accept it, alleging that lacked "I'll write one with punch in the the examiner saying. Roberts brought agreement to retire the which Lewis said was impossible of fulfillment, and forced the brothers to sign it. Yellow Cab Baggage. Ph. 23-Adv.

6. May 25, 1925 The Ada Evening News Ada, OK
Article from The Ada Evening News, May 25, 1925

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Article Text

TELLS Declared Necessary Personal Loans to Tide Over Bank (B; the Associated Fress) May Lewis, with his Lewis on trial in United States district court on of irregularities in connection with the failure of the Liberty National bank Tulsa, testified today that Liberty notes' obtained from Tulsa business men were to tide him and brothpersonal crisis that the safety of the bank. Lewis said that late 1922 they owed approximately $750,000 banks in Kansas City, New York and Tulsa: that their were about but that they could not realize them and that their creditors weer threatening suit. knew that sued anv amount would bring the bank, Lewis said. protect the bank negotiated these loans. Lewis said that the indebtedness reduced by that nethod. The witness assailed L. Federal Reserve district. alleging from the stand that conference Kansas City few before the Liberty National crash in October, Roberts had forced them to agree to terms settlement. Negress Arrested Sarah Duncan, negress. being held in the county jail on federal charge of possession choe beer. She arrested in Darktown yesterday afternoon by federal and county officers. building remodeled and enlarged.

7. May 28, 1925 Blackwell Journal-Tribune Blackwell, OK
Article from Blackwell Journal-Tribune, May 28, 1925

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Article Text

Jury Still Debates Tulsa Bank Case HUGO Okla., May from and Lewis tonight. The Lewises, charged with violating tional banking laws in with the failure of the Liberty Na. tional Bank Tulsa. The been deliberating since yesterday Court officials stated that if decision agreed o'clock the jury will be locked up for night.