Berlin Exchange Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: May 18, 1907
Location: Berlin, Oklahoma (35.451, -99.625)

Metadata

Model: gpt-5-mini
Short Digest: fa109a00

Response Measures

None

Description

Territorial Bank Commissioner H. H. Smock 'took charge' after an examination found liabilities exceeded assets; this is a government seizure/receivership due to insolvency. No run is described and the bank appears to be placed in the commissioner's control (closure/receivership). Date of takeover inferred from article (Saturday before May 21, 1907 = 1907-05-18).

Events (2)

1. May 18, 1907 Receivership

Newspaper Excerpt: Territorial Bank Commissioner H. H. Smock took charge of the Berlin Exchange bank and the Western Valley bank of Hamburg, Saturday after an examination.
Source: newspapers

2. May 18, 1907 Suspension

Cause: Government Action
Cause Details: Commissioner took charge after examination found liabilities greater than assets; banks run by a syndicate and insolvent.
Newspaper Excerpt: Territorial Bank Commissioner H. H. Smock took charge of the Berlin Exchange bank
Source: newspapers

Newspaper Articles (1)

1. May 21, 1907 The Guthrie Daily Leader Guthrie, OK

Article from The Guthrie Daily Leader, May 21, 1907

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Article Text

Banks Go to the Wall. Territorial Bank Commissioner H. H. Smock took charge of the Berlin Exchange bank and the Western Valley bank of Hamburg, Saturday after an examination. The banks have been run by a syndicute and their liabilities were found to be greater than their assets. B. W. Convert, of Washita, is president of both banks. Geo. W. Seifort is cashier of the Berlin bank and Geo. L. Convert is the cashier of the Hamburg bank. Bank Commissioner Smock is of the opinion that the banks accounts can be liquidated without any loss and that some of the banks of that vicinity will take them up. Each bank had a capital stock of $10,000.