18040. Henryetta State Bank (Henryetta, OK)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 27, 1929
Location
Henryetta, Oklahoma (35.440, -95.982)

Metadata

Model
gpt-5-mini
Short Digest
cf13be4a

Response Measures

None

Description

Directors closed the bank in late November 1929 following fallout from the failure of the Sapulpa State Bank and the death of H. A. McCauley, and a liquidating agent was appointed in early December 1929. This indicates a suspension that became permanent (liquidation/receivership).

Events (3)
1. November 27, 1929 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Directors closed the bank citing the failure of the Sapulpa State Bank (an associated institution) and the death of H. A. McCauley, a key organizer/president whose death allegedly had a disastrous effect on the Henryetta bank.
Newspaper Excerpt
The Directors of the Henryetta ... State Bank decided to close the bank this morning ... First: The failure of the Sapulpa State which has been an associated institution with this bank ... Second: The death of H. A. McCauley ... and due to the fact that the death of Mr. McCauley ... would have disastrous effect upon our bank ... the Directors did ... decide to close the bank
Source
newspapers
2. November 28, 1929 Other
Newspaper Excerpt
The closing of the Henryetta State bank here ... As safeguard to take care of any the American Exchange bank had an extra amount of cash rushed here and piled upon tables ... 27 new accounts opened, and ... only eight withdrawals ... withdrawals amounted to very little
Source
newspapers
3. December 4, 1929 Receivership
Newspaper Excerpt
Whitenton of Henryetta was named liquidating agent for the failed Henryetta State Bank by Graves Shull, state bank commissioner.
Source
newspapers

Newspaper Articles (4)
1. November 27, 1929 Henryetta Daily Free-Lance Henryetta, OK
Article from Henryetta Daily Free-Lance, November 27, 1929

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Article Text

NOTICE TO THE PUBLIC poverished The Directors of the Henryetta of the Henryetta district. State Bank decided to close the bank Burlingback, who tips the scale at this morning for the following rea 180 pounds, claims to be one of the sons: best wrestlers in the state and has First: The failure of the Sapulpa submitted long list of wrestlers State which has been an whom he has defeated in all parts of ciated institution with this bank, and the Second: The death of H. A. Mcwho weighs approximately Cauley, president of the Sapulpa State 225 pounds, displayed his prowess as Bank, who was one of the organizers wrestler the recent district fair of the Henryetta State Bank, and the here, when he decisively defeated prominently identified with the bank carnival had best man the visiting to from its inception; offer. and due to the fact that the death officials at Legion are present preof Mr. McCauley following the failure boxing card, but have paring as of the Sapulpa State Bank, would have not selected the although had disastrous effect upon our bank that some of the best batthey state and would probably have caused run tlers in the state will be obtained. on the which the Directors did They have not yet decided where not could be averted without the show will be held. closing its doors, and in order to protect our depositors we felt Jessie Baucum Wins our duty to close the bank, that the loss to the depositors, if any, Athletic Queen Vote would be minimized by this action our part. Jessie Baucum. freshman candidate C. MANRY E. W. SMITH, SMITH.

2. November 28, 1929 Okmulgee Daily Times Okmulgee, OK
Article from Okmulgee Daily Times, November 28, 1929

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Article Text

Henryetta Business Shows Little Effect From the Henryetta Bureau Nov. The closing of the Henryetta State bank here this did not dampen the ardor of the populace Trade the stores went along about usual. Everyone talking about the event, but no As safeguard to take care of any the American Exchange bank had an extra amount of cash rushed here and piled upon tables in the center of the house, ready for all who cared draw of dollars remained in full sight all day At the of today's business, vice president, stated there had been 27 new accounts opened, and among them were several large ones, and only eight withdrawals and the withdrawals amounted to very little as they were only very small accounts.

3. December 4, 1929 Henryetta Daily Free-Lance Henryetta, OK
Article from Henryetta Daily Free-Lance, December 4, 1929

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Article Text

Outside Offer Looked For In City Bank Crisis committee working on the fairs of the closed Henryetta State Bank held meeting yesterday, but none today. In fact they waitfor fomorrow, when they pect rather attractive offer from, outside said that the closed bank Weleetka sold outright for cents the dollar. None of the people concerned are in position whether not that figure would be good price for the Henryetta bank, but when the outside capitalists come, some deal might be made which would result in quick sale. Liquidation requires time. gale, outright, would mean that the depositors would be able to get their money immediately. These are considerations that may weigh with the men handling the matter. said that the appointment of liquidating agent today need hinder sale tomorrow.

4. December 4, 1929 Henryetta Daily Free-Lance Henryetta, OK
Article from Henryetta Daily Free-Lance, December 4, 1929

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Article Text

Whitenton Named Liquidating Agent Defunct State (By Associated Dec. Whitenton of Henryetta was named liquidating agent for the failed Henryetta State Bank by Graves Shull, state bank commissioner. The bank was one of 12 which closed their doors last Wednesday following the death of McCauley, who was president of all except three of the Late yesterday Shull named Luster Cook, mayor of Oilton, as liquidating agent for the Oilton State Bank; Bobo, former state senator, liquidating agent for the Sapulpa State Bank: and Morris of Mounds liquidating agent for the Bank Mounds. The said he expected to name liquidating for the other eight failed institutions later MAKES On being questioned this afternoon concerning his appointment, Mr. Whitenton stated that had not been formed concerning matter and could not definite statement to make until he had been better acquainted with the condition now existing in the bank. He said that he had been out of town all morning, which probably officials failure to notify him. explains His appointment officially relieves M. deputy bank commiswho has been in charge of the sioner, institution since closed its doors Wednesday.