17872. Alva National Bank (Alva, OK)

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 6490
Charter Number: 6490
Start Date: January 9, 1904
Location: Alva, Oklahoma (36.805, -98.666)

Metadata

Model: gpt-5-mini
Short Digest: 6e81bb6d

Response Measures

None

Description

The Alva National Bank of Alva, Oklahoma Territory closed and the Comptroller of the Currency appointed a national bank examiner as receiver (articles dated Jan 9–18, 1904). There is no mention of a depositor run; the bank was placed in receivership immediately after it failed to open. Classified as suspension leading to permanent closure/receivership.

Events (4)

1. November 15, 1902 Chartered

Source: historical_nic

2. January 9, 1904 Receivership

Newspaper Excerpt: he has appointed National Bank Examiner M. R. Sturtevant as receiver. The following is a statement of the resources and liabilities of the bank as shown by its last report of condition to the controller at the close of business, November 17.... Total, $155,882.05.
Source: newspapers

3. January 9, 1904 Suspension

Cause: Government Action
Cause Details: Bank did not open for business and the Comptroller appointed a national bank examiner as receiver; bank effectively suspended operations and was closed by the regulator.
Newspaper Excerpt: The Comptroller of the Currency received advice this morning from the Alva National Bank of Alva, Oklahoma territory, that the bank would not open for business today, and he has appointed National Bank Examiner M. R. Sturtevant as receiver.
Source: newspapers

4. December 22, 1908 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (10)

1. January 9, 1904 Evening Star Washington, DC

Article from Evening Star, January 9, 1904

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OKLAHOMA BANK CLOSED. Institution at Alva Placed in Charge of an Examiner. The controller of the currency received advice this morning from the Alva National Bank of Alva, Oklahoma territory, that the bank would not open for business today, and he has appointed National Bank Examiner M. R. Sturtevant as receiver. The following is a statement of the resources and liabilities of the bank as shown by its last report of condition to the controller at the close of business, November 17. Resources-Loans and discounts, $118,767.05; U. S. bonds, $6,820.31; stocks, securities, claims, etc., $2,911.33; furniture and fixtures, $1,738.48; due from banks and bankers, $8,945.85; cash and cash items, $16,699.03. Total, $155,882.05. Liabilities-Capital stock, $25,000; undivided profits, $5,445.15; circulation, $6,250; due to banks and bankers, $17,866.56; depcsits, $89,320.34; bills payable, $12,000. Total, $155,882.05.

2. January 9, 1904 Alexandria Gazette Alexandria, VA

Article from Alexandria Gazette, January 9, 1904

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velt does not get the United States into trouble through foreign entanglements it will not be his fault. FROM WASHINGTON. [Correspondence of the Alexandria Gazette.] Washington, Jan. 9. After having spent most of the open sessions this week in the discussion of the Panama situation and the question as to whether the Senate committee on postoffices should make an investigation of the frauds in the Postoffice Department, the Senate has agreed to take a vote on the latter on Monday. The probabilities are that the Senate will decide that the investigation already made by the Postoffice Department itself is sufficient and that further inquiry is unnecessary. The report on General Wood's nomination has been made but no action will be taken upon it in the Senate until after Senator Hanna returns towards the end of next week. The foreign relations committee expects to report. the Panama canal treaty on Monday or Cuesday and its consideration in executive session will be pushed as early as possible. The canal situation will also be discussed in open session during the week in connection with various Tesoutions of inquiry proposed by Senators Hoar and Morgan. On Monday the House will be ready to take up District of Columbia business if there should be any to transact. The legislature, executive and judicial appropriation bill will be reported on that day and taken up for consideration Tuesday. Practically all the remainder of the week will be devoted to it. Although it is entirely improbable that the United States will become in any way implicated in the difficulties between Russia and Japan, the administration is keeping a close watch upon developments and American ships of war are in position to fully protect American interests in Korea and elsewhere in the Orient. The suggestion that the President be directed to use his good offices by way of meditation is regarded at the State Department as impracticable at the present stage. The precedent in such matters is only at the request of one of the interested parties, although there have some times been delicate hints conveyed that the United States willing to so act. The hope in State Department circles that there will be no war is strengthened today. This is based upon advices received from government agents abroad which are said to be practically unanimous. The answer of Reed Smoot, Senator from Utah, to the charges filed against him by various individuals and organizations throughout the country, was submitted today to the Senate committee on privileges and elections. It is a document of about 6,000 words and discusses the matter fully in all its phases. Two serious charges are preferred against Mr. Smoot, viz: That the respondent is a polygamist, and that he is bound by some oath or obligation which is in consistent with the oath required by the Constitution, which was administered to him before he took his seat as a Senator. Both these charges the respondent denies in lengthy refutations. The answer is signed and sworn to by Smoot. As to the charge that he is a polygamist, the respondent says that he was married on the 16th day of September, 1884, to Alpha May Eldridge. She is still his wife and has never cohabited with any other woman. As to the charges that the respondent is bound by some oath or obligation controlling his duty under oath as a Senator, the respondent says that he has never taken any such oath, or in any way assumed any such obligations. Lawyers who have watched the progress of the Northern Securities cases in the Supreme Court of the United States are inclined to believe that the court will hold, in the action brought by the State of Minnesota, that it has no jurisdiction. Congress was not in session today. The meeting of the democratic national committee in this city next Tuesday is looked forward to with much interest, as it will to a gree, be the real opening of the campaign or the presidency. The meeting will select the time and place of the next national con: vention. Senator Jones will not be the chairman of the next committee. His successor will be chosen when the committee meets in the convention city, wherever that may be. The Comptroller of the Currency received advices this morning that the Alva National Bank, of Alva, Okla. had not opened for business today, and he sappointed National Bank Examiner M R. Sturtevant as receiver. The resources and liabilities of the bank, according to the last statement made November 17, were $155,882.05 each. An amendment will be offered to the Panama Canal treaty which will be acceptable alike to republicans and democrats. The object will be to augment the receipts by the Republic of Panama from the canal when it shall have been constructed. As the treaty now stands the compensation to the new republic would not be equitable. The Navy Department today received the

3. January 10, 1904 The St. Louis Republic Saint Louis, MO

Article from The St. Louis Republic, January 10, 1904

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larities there, and caused the recent investigations much against its will. ALVA NATIONAL BANK CLOSES. M. R. Sturtevant Appointed Receiver of Oklahoma Institution. REPUBLIC SPECIAL. Washington, Jan. 9.-The Comptroller of the Currency received advice this morning from the Alva National Bank of Alva, Ok., that the Bank would not open for 'business to-day, and he has appointed National Bank Examiner M. R. Sturtevant as receiver. The following is a statement of the resources and liabilities of the bank as shown by its last report of condition to the Comptroller at the close of business November 7: Resources-Loans and discounts, $118,767; United States bonds, $6,820; stocks, securities, claims, etc., $2,911; furniture and fixtures, $1.738; due from banks and bankers, $8,945; cash and cash items, $16,699. Total, $155,882. Liabilities-Capital stock. $25,000; undivided profits, $5,445; circulation. $6,250; due to banks and bankers. $17,866; deposits, $89,320; bills payable, $12.000. Total, $155,882.

4. January 10, 1904 The Washington Times Washington, DC

Article from The Washington Times, January 10, 1904

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RECEIVER IS NAMED FOR OKLAHOMA BANK The Comptroller of the Currency has been advised that the Alva National Bank, of Alva, Oklahoma Territory. is closed. He has named National Bank Examiner M. B. Sturtevant as receiver. The last statement shows the resources of the banks to be $155,882.05.

5. January 11, 1904 The Chickasha Daily Express Chickasha, OK

Article from The Chickasha Daily Express, January 11, 1904

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The Alva National Bank has gone into the hands of a receiver.

6. January 13, 1904 The Fulton County News McConnellsburg, PA

Article from The Fulton County News, January 13, 1904

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THE LATEST NEWS IN SHORT ORDER. Domestic. T. S. Bidgood, cashier of the People's Bank, in Mobile, Ala., died, aged 46 years. He was widely known in business circles through the South. Congressman William W. Skiles, representing the Fourteenth district of Ohio, died of pneumonia at his home, at Shelby, O., aged 54. The steamer Provan brought to Boston the captain and crew of the schooner G. A. Smith, which vessel soon after foundered. Henry W. Peacock fell from the seventh floor of the Reading Terminal Station. in Philadelphia, and was insantly killed. A fire in the New York Stock Exchange Building deranged the telegraph system by which stock quotations were sent out. The Alva National Bank. of Alva, Ok., was closed and a receiver appointed by the Comptroller of the Currency. Former Governor of Ohio Charles Foster died at the residence of Gen. J. Warren Keifer, in Springfield, O. The Window-glass Workers' Association refused to amalgamate with L. A. No. 300 of the Knights of Labor. The Massachusetts Democratic State Committee indorsed Richard Olney for the presidential nomination. Francis D. Wayland, formerly dean of the Yale Law School, died at his home, in New Haven. Mr. William Jennings Bryan returned to New York and spoke in a general way of his tour abroad. Horace G. Burt, it is stated. will become president of the Chicago and Northwestern Railway. Orders were posted for the resumption of work at the Joliet plant of IIlinois Steel Company. L. C. Willing was caught in the act of setting fire to his department store, in Waterloo, Ia. The court in Omaha sustained the demurrer filed in behalf of Senato Dietrich deciding that he was not a senator at the time of the commission of the acts complained of because he had not then qualified. During a thick fog the Fall River Line steamer Priscilla, from New New York for Fall River, ran ashore on the north side of the Lime Rock Lighthouse, but was subsequently floated. The attempt of Charles Brooks to escape from New Jersey State Prison resulted in the death of Brooks, the shooting of Keepers John Fitzgerald and William J. Harney. President Henry Lear and Cashier George P. Brook, of the Doylestown (Pa.) National Bank, were arrested on the charge of misapplying bank funds. Evidence was begun in New York in the suit to foreclose the second mortgage for $10,000,000 given by the United States Shipbuilding Company. President Raymond, of the Wesleyan University, in Connecticut, suspended six of the sophomore class for trying to haze a fellow-student. A hearing was begun before the Interstate Commerce Commission in Chicago as to the (justification for the advance of freight rates. The Mayor of Bloomington. III., has ordered all of the aldermen to do police duty as special officers during the street railway strike. Rev. B. A. Chorry was found guilty of subornation of perjury and sentenced to three years in the penitentiary.

7. January 15, 1904 Highland Recorder Monterey, VA

Article from Highland Recorder, January 15, 1904

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THE LATEST NEWS IN SHORT ORDER, Domestic. T. S. Bidgood, cashier of the People's Bank, in Mobile, Ala., died, aged 46 years. He was widely known in business circles through the South. Congressman William W. Skiles, representing the Fourteenth district of Ohio, died of pneumonia at his home, at Shelby, O., aged 54. The steamer Provan brought to Boston the captain and crew of the schooner G. A. Smith, which vessel soon after foundered. Henry W. Peacock fell from the seventh floor of the Reading Terminal Station. in Philadelphia, and was insantly killed. A fire in the New York Stock Ex. change Building deranged the telegraph system by which stock quotations were sent out. The Alva National Bank, of Alva, Ok., was closed and a receiver appointed by the Comptroller of the Currency. Former Governor of Ohio Charles Foster died at the residence of Gen. J. Warren Keifer, in Springfield, O. The Window-glass Workers' Association refused to amalgamate with L. A. No. 300 of the Knights of Labor. The Massachusetts Democratic State Committee indorsed Richard Olney for the presidential nomination. Francis D. Wayland, formerly dean of the Yale Law School, died at his home, in New Haven. Mr. William Jennings Bryan returned to New York and spoke in a general way of his tour abroad. Horace G. Burt, it is stated, will become president of the Chicago and Northwestern Railway. Orders were posted for the resumption of work at the Joliet plant of IIlinois Steel Company. L. C. Willing was caught in the act of setting fire to his department store, in Waterloo, Ia. The court in Omaha sustained the demurrer filed in behalf of Senator Dietrich deciding that he was not a senator at the time of the commission of the acts complained of because he had not then qualified. During a thick fog the Fall River Line steamer Priscilla, from New New York for Fall River, ran ashore on the north side of the Lime Rock Lighthouse, but was subsequently floated. The attempt of Charles Brooks to escape from New Jersey State Prison resulted in the death of Brooks, the shooting of Keepers John Fitzgerald and William J. Harney. President Henry Lear and Cashier George P. Brook, of the Doylestown (Pa.) National Bank, were arrested on the charge of misapplying bank funds. Evidence was begun in New York in the suit to foreclose the second mortgage for $10,000,000 given by the United States Shipbuilding Company. President Raymond, of the Wesleyan University, in Connecticut, suspended six of the sophomore class for trying to haze a fellow-student. A hearing was begun before the Interstate Commerce Commission in Chicago as to the (justification for the 1 advance of freight rates. The Mayor of Bloomington, Ill., has 1 ordered all of the aldermen to do police / duty as special officers during the street railway strike. e Rev. B. A. Chorry was found guilty of subornation of perjury and sentenck ed to three years in the penitentiary. e

8. January 15, 1904 The Midland Journal Rising Sun, MD

Article from The Midland Journal, January 15, 1904

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TIE LATEST NEWS IN SHORT ORDER, Domestic. W. D. Guthrie, counsel for Charles M. Scwab, will seek to have the receivership proceedings continued in the United States Circuit Court of New Jersey in private. A company having for its purpose the construction of a deep-water ship canal between Lake St. Clair and Lake Erie has been formed in Cleveland. The Board of Health of Lockport, N. Y., has ordered the closing of all public meeting places owing to the prevalence of smallpox in the vicinity. The heroism of an elevator man in a New York office building saved the lives of eight women who were imperiled by fire. Leon Saeder has been arrested at San Francisco charged-with the murder of Joseph Blaise, his brother-in-law. Fire of a mysterious origin broke out in a mine of the Mineral Railroad and Mining Company at Shamokin, Pa. The new wireless telegraph stations at San Juan and Culebra have been opened and are working well. The Pennsylvania Company is said to have secured control of the Chicago Terminal Transfer Railroad. The examination of John A. Benson, the California millionaire landowner, was begun in New York. Howard E. Huntington has been appointed general manager of the Los Angeles Railway. The Union Pacific Railroad will be double tracked between Kansas City and Topeka. Hundreds of passengers on incoming Chicago trains were plunged into sudden darkness. Father John Sutkaitis, pastor of St. Casimir's Lithunanian Catholic Church in Pittsburg, made information against two anarchists, whom he fears will destroy his church. Prominent Yale professors and others have petitioned the Senate to move cautiously in the matter of ratifying the Panama treaty. Col. Myron T. Herrick was inangurated as governor of Ohio. There was an imposing parade and at night the Governor held a reception. The Milwaukee Grand Jury brought in another batch of indictments charging city officials and former officials with accepting bribes. Eighty-four horses were burned to death in a fire which destroyed the stable of Peoples Bros., contractors, in West Philadelphia. The inhabitants of San Andres Island would like to cut away from Colombia and join the new Republic of Panama. St. Patrick's Church, an old landmark and the oldest Catholic church in Lowell, Mass., was destroyed by fire. Cornell University celebrated the ninety-seventh anniversary of the birth of its founder, Ezra Cornell. The convention of the National Woolgrowers' Association was begun in Portland, Ore. T. S. Bidgood, cashier of the People's Bank, in Mobile, Ala., died. aged 46 years. He was widely known in business circles through the South. Congressman William W. Skiles, representing the Fourteenth district of Ohio, died of pneumonia at his home, at Shelby, O., aged 54. The steamer Provan brought to Boston the captain and crew of the schooner G. A. Smith, which vessel soon after foundered. Henry W. Peacock fell from the seventh floor of the Reading Terminal Station. in Philadelphia, and was insantly killed. A fire in the New York Stock Exchange Building deranged the telegraph system by which stock quotations were sent out. The Alva National Bank." of Alva, Ok., was closed and a receiver appointed by the Comptroller of the Currency.

9. January 16, 1904 Democratic Messenger Snow Hill, MD

Article from Democratic Messenger, January 16, 1904

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Domestic. Father John Sutkaitis, pastor of St. Casimir's Lithunanian Catholic Church in Pittsburg, made information against two anarchists, whom he fears will destroy his church. Prominent Yale professors and others have petitioned the Senate to move cautiously in the matter of ratifying the Panama treaty. Col. Myron T. Herrick was inaugurated as governor of Ohio. There was an imposing parade and at night the Governor held a reception. The Milwaukee Grand Jury brought in another batch of indictments charging city officials and former officials with accepting bribes. Eighty-four horses were burned to death in a fire which destroyed the stable of Peoples Bros., contractors, in West Philadelphia. The inhabitants of San Andres Island would like to cut away from Colombia and join the new Republic of Panama. St. Patrick's Church. an old landmark and the oldest Catholic church in Lowell, Mass., was destroyed by fire. Cornell University celebrated the ninety-seventh anniversary of the birth of its founder, Ezra Cornell. The convention of the National Woolgrowers' Association was begun in Portland, Ore. T. S. Bidgood, cashier of the People's Bank. in Mobile. Ala., died. aged 46 years. He was widely known in business circles through the South. Congressman William W. Skiles, representing the Fourteenth district of Ohio, died of pneumonia at his home, at Shelby. O., aged 54. The steamer Provan brought to Boston the captain and crew of the schooner G. A. Smith, which vessel soon after foundered. Henry W. Peacock fell from the seventh floor of the Reading Terminal Station. in Philadelphia, and was insantly killed. A fire in the New York Stock Exchange Building deranged the telegraph system by which stock quotations were sent out. The Alva National Bank. of Alva, Ok., was closed and a receiver appointed by the Comptroller of the Carrency. Former Governor of Ohio Charles Foster died at the residence of Gen. J. Warren Keifer, in Springfield. O. The Window-glass Workers' Association refused to amalgamate with L. A. No. 300 of the Knights of Labor. The Massachusetts Democratic State Committee indorsed Richard Olney for the presidential nomination. Francis D. Wayland, formerly dean of the Yale Law School, died at his home, in New Haven. Mr. William Jennings Bryan returned to New York and spoke in a general way of his tour abroad. Horace G. Burt, it is stated, will become president of the Chicago and Northwestern Railway. Orders were posted for the resumption of work at the Joliet plant of IIlinois Steel Company. L. C. Willing was caught in the act of setting fire to his department store, in Waterloo, Ia. The court in Omaha sustained the demurrer filed in behalf of Senator Dietrich deciding that he was not a senator at the time of the commission of the acts complained of because he had not then qualified. During a thick fog the Fall River Line steamer Priscilla, from New New York for Fall River, ran ashore on the north side of the Lime Rock Lighthouse, but was subsequently floated.

10. January 18, 1904 The Daily Ardmoreite Ardmore, OK

Article from The Daily Ardmoreite, January 18, 1904

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The Alva National Bank. From an Alva, Okla., exchange we clip the following: The Alva National bank closed its doors last Saturday morning and its president notified the comptroller of the currency at Washington at once, whereupon Mr. Sturtevant national bank examiner for Oklahoma, was appointed receiver. Mr. Sturtevant arrived Sunday and at once took charge of the institution and is going over the books and will try to adjust the bank's affairs as soon as possible. No blame for the bank's failure is attached to either Mr. Mason or Mr. Bruce, who recently came here from Ardmore. 1. T., and invested in the bank's stock and were elected president and cashier. It is the general impression that the bank had been badly managed for the past two years and that Messrs. Mason and Bruce bought a bad bargain when they invested. They will probably lose more heavily than any of the stockholders or depositors. It is claimed that the bank was seriously crippled when it lost the county deposits last October and has been more or less embar. rassed ever since. It is thought, how. ever, that an adjustment of its at fairs will show up all right and that depositors will not lose a cent. The bank's capital stock is $25,000, its deposits were close to $90,000 and its loans and discounts were something over $100,000.