El Reno State Bank - El Reno, OK

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 19, 1922
Location: El Reno, Oklahoma (35.532, -97.955)

Metadata

Model: gpt-5-mini
Short Digest: 61638837

Response Measures

None

Description

Article (Guthrie Daily Leader, 1922-07-19) states El Reno State Bank 'was in a failing condition' and 'now in the hands of a liquidating agent' with certificates practically worthless. No mention of a depositor run or temporary suspension prior to closure; bank was insolvent and being liquidated/receivership.

Events (1)

1. July 19, 1922 Receivership

Newspaper Excerpt: now in the hands or a liquidating agent, and these certificates of deposit are practically worthless. When the bank became insolvent ... gave to the School Board ... After the El Reno School District bonds passed ... the Old Colony Petroleum Company then was in financial difficulties, and is now in the hands of a receiver ... it is generally conceded that its bonds are practically worthless.
Source: newspapers

Newspaper Articles (1)

1. July 19, 1922 The Guthrie Daily Leader Guthrie, OK

Article from The Guthrie Daily Leader, July 19, 1922

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Article Text

E1 Reno was in a failing condition when This trade was made. and th now in the hands or a liquidating agent, and these certificates of deLosit are practically worthless. When the bank became insolvent the School District Officers maked for 8⑇ indemnity bond securing the certi ficates of deposit of the bank, which they held. The bank was unable to make this bond, and in Beu Thereof, gave to the School Board the 0'4 Colony Petroleum Company Bonds that it had received for the school bonds. The Old Colony Petroleum Company then was in financial difficulties, and is now in the hands 02 a receiver and it is generaly. conceded that its bonds are practically worthless. After the El Reno School District bonds passed to Fred Dennis and other stock-holders of the on Colony Petroleum Company, or the ora Co. ony Petroleum itself, $97,000 of theme bonds were traded to A. B. z Shaw, Secretary of the Commissioners of the Land Office. He WRS acting for the Commision and tr idea $97,000 worth of Liberty Bonds be longing to the School Funds of 19146 state for the $97,000 of School District Bonds, It is possible that this transaction was an honese one, and the Secretary s 8. 3. Shaw was deceived 1as believing that this was a good dear for the state, because the school bonds were bearing a higher :ate of interest then the Liberty Bonds, and 2019 no stated, that the Helicol Div. trice would be able to realize casa from the sale of the Liberty Bonds As # matter of fact, the school dis-