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HENRYETTA BANK SITE OF OLD Many Depositors in Defunct Institution Stockholders in Venture. HENRYETTA. Okla., Jan Arising phoenix like from the ashes of the defunct First National bank. which closed its doors by orders of the national bank examiner, July 20. 1923. the new Peoples National bank will open its doors for business Wednesday 28, according to the statement of James Cameron, president. and one of the largest depositors of the defunct Institution. The serial number of the new bank will be 12,629. The closing of the First National bank, the oldest financial institution of the city, was disastrous blow to more than three thousand accounts, and brought stagnation to the business interests generally, yet the was confident suspension was only that the bank would and when certain accounts were reopen realized upon. This confidence maintained and though badly hampered in finances, and the business inthe depositors terests generally had accepted the situation and were taking more cheerful mood when the Miners National bank suspended Saturday, December 15, thus dealing second blow that put the remaining banks to the acid test. and sending thousands of dollars that would otherwise found circulation into postal savings, bureau drawers, cubby holes and hiding places. However, the two remaining banks met every demand, and although general depression of business hovered these two banks showover the city, gradual increase in their, deposits which were greatly augmented by the reopening of the coal mines in the late summer and also the returns from the largest cotby and other crops in decade. all this time Mr James During Cameron and Joseph Hillman, two heaviest depositors in the deof the funct First National bank. assisted by cher depositors worked with build new bank the receiver the of the old. Nineupon wreck tenths of the actual claim holders against the defunct bank, embracing more than 700 of the larger depositors, become stockholders in the new institution. The Peoples National bank will begin business Wednesday, January 28, capital stock $100,000 and surplus of $25,000. The officers James Cameron. president; Joseph Hillman, vice president: active vice president. and cashier. Cameron and Hillman came to Henryetta together 20 years ago and assisted in the opening and exploitation of the vast coal deposits were opened and exploited. K. Wilder native Aurora, III., while Mr Calvert's former home was in Kas.
