17941. Farmers & Merchants Bank (Chouteau, OK)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
October 18, 1927
Location
Chouteau, Oklahoma (36.186, -95.343)

Metadata

Model
gpt-5-mini
Short Digest
18fa75eb

Response Measures

Full suspension, Books examined

Description

OCR variants in articles show spellings 'Chocteau' and 'Choteau'; bank located in Chouteau, OK. Newspaper reports describe a run (Oct 18, 1927) followed by the bank failing to open and being placed in hands of the state banking department and to pay depositors in full. Closure appears permanent (state banking department control), so classified as run → suspension → closure.

Events (2)
1. October 18, 1927 Run
Cause Details
Growing withdrawals and depositor panic; article gives no specific trigger or rumor.
Measures
Bank closed next day and placed in hands of state banking department; sign posted that department was in control.
Newspaper Excerpt
Following a run yesterday, the Farmers and Merchants bank...today failed to open its doors.
Source
newspapers
2. October 19, 1927 Suspension
Cause
Government Action
Cause Details
Bank failed to open and was placed in the hands of the state banking department after heavy withdrawals; bank will pay depositors in full.
Newspaper Excerpt
the Farmers and Merchants bank...today failed to open its doors. A sign announced the Institution was in the hands of the state banking department.
Source
newspapers

Newspaper Articles (2)
1. October 19, 1927 The Enid Morning News Enid, OK
Article from The Enid Morning News, October 19, 1927

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Article Text

RUN CAUSES BANK TO CLOSE DOORS CHOCTEAU. Okla., Oct. Following a run yesterday. the Farmers and Merchants bank, state institution here, today failed to open its doors, A sign announced the Institution was in the hands of the state banking department. The bank will pay its depositors in full, It was announced by Gordon B. Lindsey, president. It carried approximately $50,000 in deposits, he said, and was in "very good" condition. He said it was decided to close because of growing withdrawals. The bank was the only one in Chocteau.

2. October 21, 1927 The Duncan Banner Duncan, OK
Article from The Duncan Banner, October 21, 1927

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Article Text

RUN FORCES STATE BANK TO CLOSE UP Choteau Institution Will Pay Depositors in Full and Was in Good Shape: Choteau, Okla., Oct. 18.-Following a run yesterday, the Farmers and Merchants Bank, a state institution here, today failed to open its doors. A sign announced the institution was in the hands of the state banking department. The bank will pay its depositors in full, it was announced by Gordon B. Lindsey. president. It carried approximately $50,000 in deposits and was in "very good" condition. He said it was decided to close because of growing withdrawals.