Bank of Foss - Foss, OK

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: November 30, 1920
Location: Foss, Oklahoma (35.454, -99.170)

Metadata

Model: gpt-5-mini
Short Digest: 32f37733

Response Measures

None

Description

Article (The Daily Ardmoreite, 1920-11-30) states the Bank of Foss was announced in liquidation by the state bank commissioner. No run is mentioned; the bank was closed and placed into liquidation/receivership.

Events (2)

1. November 30, 1920 Receivership

Newspaper Excerpt: Liquidation of two more banks was announced Monday by Dennis. The banks affected are the First State Bank of Fallis, Lincoln county and the Bank of Foss. This brings the total number of failures in the state to six in two months.
Source: newspapers

2. November 30, 1920 Suspension

Cause: Government Action
Cause Details: State bank commissioner announced liquidation of the Bank of Foss (closure by banking authorities/receiver).
Newspaper Excerpt: Liquidation of two more banks was announced Monday by Dennis. The banks affected are the First State Bank of Fallis, Lincoln county and the Bank of Foss.
Source: newspapers

Newspaper Articles (1)

1. November 30, 1920 The Daily Ardmoreite Ardmore, OK

Article from The Daily Ardmoreite, November 30, 1920

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Article Text

DENNIS ROASTS COUNTY ATTORNEY FOR HIS ARREST Intimates Coal County Officers Seeking Notoriety; Legislature May Abolish Examiner's Office is Oklahoma City, Nov. 30.--"He a self-important county official who thinks that his office has been overlooked by the state banking department," Fred G. Dennis, state bank commissioner, said yesterday in referring to charges made against him in connection with the failure of the Citizens' State Bank of Cealgate by E. N. Holland, county attorney of Coal county. Dennis was at his office at the capitol working yesterday. Me continued to treat as a joke charges that he had permitted the bank to run after knowing it to be insolvent. Impatience was expressed only against Holland, for having caused inconvenience in the state work by preferring the charges. Told that announcement had been made by Holland that shortages have been established to the extent of $267,000, Dennis said that he had no definite information on that point. He had said that without doubt much of the money will be returned to the state guaranty fund through the collection of assets of the institution. Liquidation of two more banks C was announced Monday by Dennis. The banks affected are the First State Bank of Fallis, Lincoln county and the Bank of Foss. of Wichita county. This brings the total number of failures in the state to six in two months. Abolition of the office of state e bank commissioner as an appointive position under direct control of the $ governor and consolidation of the banking department with the office of the state examiner and inspector ) may be submitted to the coming t session of the state legislature. , Rumors in political circles yester) day following the arrest of Dennis, y for alleged malfeasance in office in permitting the Citizens' State Bank : of Coalgate to operate after being insolvent, were that such a bill has 0 been prepared by a group of heldI over senators. It was indicated that the measure has been under consid/ eration for several months. Succese sive failures of several state banks ) are said to have brought the proposed e action to public attention. 5 Proponents of the measure insist that the consolidation would place ) supervision of the banks under an 3 elective officer and particularly under S a department which is supposed to 1 keep a complete check on the finan) cial dealings of the state and its counties. They claim that the consolidation would also be means of e t effecting economy.