18066. Bank of Kingfisher (Kingfisher, OK)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
August 13, 1900
Location
Kingfisher, Oklahoma (35.861, -97.932)

Metadata

Model
gpt-5-mini
Short Digest
a5270423

Response Measures

None

Description

No run is described. Bank commissioner Search took possession and ordered the doors closed in mid-August 1900 after finding the bank insolvent. A receiver (J. M. Speice/Sprice/Spice—OCR variants) was appointed later in August and the bank remained in receivership. Later reports describe assets/liabilities and expected partial creditor recovery, indicating permanent suspension/closure rather than reopening.

Events (3)
1. August 13, 1900 Suspension
Cause
Government Action
Cause Details
Bank Commissioner W. S. Search, after examination on Aug 11-13, found the bank insolvent and took possession, ordering closure; insolvency partly attributed in press to large wheat lines against a falling market.
Newspaper Excerpt
the bank commissioner ordered the doors closed and directed that no more deposits be received.
Source
newspapers
2. August 21, 1900 Receivership
Newspaper Excerpt
Word comes from Kingfisher of the appointment today of J. M. Speice as receiver for the insolvent Bank of Kingfisher.
Source
newspapers
3. August 24, 1900 Other
Newspaper Excerpt
District Judge Irwin ... passed upon the application of creditors of the suspended Bank of Kingfisher for appointment of receiver ... J. M. Spice ... was appointed ... his bond was fixed at $50,000, which was filed today and approved by the clerk of the district court.
Source
newspapers

Newspaper Articles (10)
1. August 14, 1900 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, August 14, 1900

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SEARCH IN CONTROL Bank of Kingfisher in the Hands of Examiner. UNLESS THERE'S A SLUMP In Real Estate Securities the Bank Will Pay Out. Guthrie, O. T., Aug. 13.-A telephone message from Kingfisher today states that Bank Commissioner Search had taken possession of the Bank of Kingfisher, of which the Hon. J. C. Pose is president, and that a deputy commissioner would be appointed to take charge of the bank until the appointment of a receiver by the court. Mr. Search, the bank commissioner, is quoted as saying that with eareful management the bank's assets would realie more than enough to meet every oblgation unless there should be a slump in the real estate and other securities. Nothing definite is given out as the reasons for the bank's insolvency but the story is current that it was carrying a large line of wheat against a falling market. It is not believed that the closing of the bank will be permanent and there is already talk of a reorganiation. The Bank of Kingfisher is one of the financial landmarks of Kingfisher and Oklahoma territory and the news of its present trouble will be read with genuine regret. It was organied in September, 1889, and under the able management of President Joe C. Post enjoyed a prosperous career even during the troublous times of 1893, when bank after bank, some of them the strongest in the land, tottered and fell. President Post himself has been identified with the territor since its earliest days. He comes from a well known family in Nebraska, one of the brothers at one time holding the honored position of chief justice of the state and another brother is a leading banker. In the first klahoma legislature Mr. Post was a prominent figure district and it was largely due to his shrewd tactics that the bill was passed locating the territorial capital at Kingfisher, the bill that was subsequently vetoed by Governor Steele. He was appointed by Governor Barnes president of the commission from Oklahoma at the Omoha exposition, and without legislative appropriation applied himself so energetically that Oklahoma was represented by a first class exhibit that carried off several pries in competition with the world. Genial, whole-souled and liberal, the entire territory will sympathize with Mr. Post in his misfortune. The closing of the bank is due to the investigation commenced by Bank Commissioner Search last Friday, which developed that the bank was in an insolvent condition. On Saturday the bank commissioner informed President Post of the result of his investigations and suggested that immediate steps be taken to strengthen the bank's resources, otherwise he would be obliged to take charge of the business. President Post replied that at the present time he was powerless to do anything to strengthen the bank, whereupon on Saturday evening, five minutes before the regular closing time ,the bank commissioner ordered the doors closed and directed that no more deposits be received.

2. August 17, 1900 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, August 17, 1900

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KELLY IS IN CHARGE Wickmiller Refuses Receivership of Kingfisher Bank. PEOPLES' BANK IS SAFE Its Affairs Examined and Found in Good Shape. Guthrie, O. T., Aug. 16.-The first suit against the insolvent Bank of Kingfisher was filed in the district court of Logan county by the Guthrie National bank. The suit is for the recovery of $150, and Henry Reed and Robert Devinion, residents of Logan county, are names as codefendants. The plaintiff claims that on May 7, 1900, E. R. Dunlap deposited $150 in the bank of Kingfisher and received a deposit certificate in return. Later the Guthrie National bank cashed this certificate for Henry Reed and Robert Devinion, the latter claiming to have recelved it in trade from Dunlap. The Bank of Kingfisher refused to honor it, returning the paper with the words written thereon: "Payment stopped by garnishment. Bank of Kingfisher." The Guthrie National brings suit to recover the $150. Bank Commissioner W. S. Search returned last night from Kingfisher, leaving Ed. Kelley, a resident of that city, in charge of the insolvent bank as temporary custodian. Mr. Louis Wickmiller, who was first appointed custodian, felt obliged to refuse the place on account of his private business. The custodian will remain in charge of the bank until the court appoints a receiver, which action will not be pressed by the bank commissioner to a speedy conclusion, however, pending the outcome of reorganization talk. Mr. Search stated that the closing of the Bank of Kingfisher had not affected the People's bank, the other territorial institution, to any extent. As a matter of precaution he made a careful and thorough examination of the books and found the bank in excellent condition, to which he attested in a written certificate as a matter of justice to the bank and a guarantee to timid depositors.

3. August 22, 1900 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, August 22, 1900

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Spefee Appointed Receiver. Guthrie, O. T., Aug. 21.-Word comes from Kingfisher of the appointment today of J. M. Speice as receiver for the insolvent Bank of Kingfisher. Mr. Speice is deputy county treasurer of Kingfisher county and is a brother to Mrs. J. C. Post.

4. August 23, 1900 Wood County Reporter Wisconsin Rapids, WI
Article from Wood County Reporter, August 23, 1900

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the burial of 8,000 bodies in the county, N. Y., potter field, ha self been buried there. He W years old. B. F. Mamreoy, at one time I secretary to William H. Seware suddenly at him home in New aged 49. He was a Russian, 1 Jerusalem. The Bank of Kingfisher, Okla has been closed. Assets are and liabilities $61,000, includi claim of $13,000 by the treasurer. The navy department has deci reject all the bids for armor pla it is said that this does not it the government's purpose to plant of it own. A new telegraph company, to into the field as a rival of the W Union and Postal concerns, launched by the Chicago Boa Trade members. The pamphlet issued by the T1 Department shows that during t quarter century the greater re save that raised by the war ta recorded in 1882. Mayor Frederick E. Prime, an eer officer of the union army the civil war and chief engine Grant's Mississippi campaign, i at Litchfield, Conn. Collis P. Huntington, presid the Southern Pacific Railroad, Pine Knot Camp, on Racquette in the Adirondacks, New York of heart disease, aged 79 years. John Hogan, formerly a ba chief of the Jersey City fire ment, cut his wife's throat an his own. Both are in a pre condition. The man was jealou An omnibus containing 25 p who were returning from a f was struck by a train at Slat Pa., and 11 of the party were and several others fatally woun At New Kensington, Pa., alme entire plant of the Pittsburg tion company's aluminum worl destroyed by a tornado; loss $1 Frank Johnston, the engineer, 1 tally insured. The abductors of Hazel Patter Kenosha, were captured and the was restored to its mother. TI tempt was made by relatives t possession of the child, who is a large estate. The new Hamburg-American Deutschland, made the fastest average ever attained by a pas steamer. It crossed from Sandy to Plymouth in five days, eleven and forty-five minutes. At San Francisco, Mrs. Net Craven has again suffered dei her battle for the millions of t) Senator James G. Fair. A de rendered by Judge Troutt holo she is not the widow of Fair. George H. Curtiss, senior m of the wholesale dry goods fi Curtiss & Warren, of Chicago, is He was 67 years old and has b business in Chicago since 18 widow and two children, both of are grown, survive. The childr Edward K. Curtiss and Elizab Curtiss. Dwight H. Bill, aged 61, di Bridgeport, Conn., at the reside his brother, Dr. C. H. Bill, after illness. Deceased was for many emigrant agent of the Chicago, Island & Pacific railroad. The two Union Pacific train r killed in Kansas are believed James and "Tom" Jones, Missou Texas desperadoes. There is a r of $3,000 in Missouri and $500 in for the brothers, dead or alive. The largest amount of gold shipped in a day from this coun Europe has been ordered for ship The amount is over $8,000,000 the first payment on the Englis bonds subscribed for in this co Gov. Roosevelt announced tl would ask Mayor Van Wyck to a charges against him of malfeasa office in connection with ice scandal, and then decide the qu of appointing a commissioner to

5. August 23, 1900 Northern Wisconsin Advertiser Wabeno, WI
Article from Northern Wisconsin Advertiser, August 23, 1900

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at Columbus. Crop is shedding bolls badly. Grover Cleveland was quoted at Indianapolis as having refused to head a third ticket because of the state of his health. Mrs. S. R. Goodell of Rockford has received word that she and fifteen others are heirs to a $50,000,000 estate in England. A letter from the Philippines tells o: the death of Richard Eisenach, Forty-fifth Volunteers, a Racine boy, from wounds. The Langstaff Hardware company of Memphis assigned, scheduling liabilities $80,000, with assets sufficient to pay. creditors. Gilbert M. Hitchcock, Omaha publisher is a democrat candidate for the United States senatorship, to succeed John M. Thurston. Wisconsin bankers met in Milwaukee. The retiring president said that business in the state increased 20 per cent. in two years. A man in an advanced stage of leprosy was discovered wandering about the streets of Minneapolis. He was quickly isolated. At Marietta, Ga., Samuel Robinson, the negro charged with criminal assault on Mrs. George Inzer, was convictedand sentenced to hang September 1. The sailing vessel Maida crashed into the rocks at Sault Ste. Marie, and sinking, completely, blocks the channel, tying up all shipping. Prof. James E. Keeler, director of the Lick observatory and one of we greatest of American astronomers. died at Mount Hamilton. Charles A. Mielenz, German wallpaper dealer of Chicago, committed suicide in order that his wife may receive his life insurance. Mrs. Booth Tucker wife of Commander Booth Tucker of the Salvation Army, who has been ill near Asbury Park, N. J., is out of danger. It is announced that Senator Marion Butler of North Carolina, chairman of the populist national committee, will take the stump for McKinley. Sub-ContractorJ. C. Rodgers declares that the rapid-transit delay in New York is due to John B. McDonald's failure to execute final contracts. At Columbus, Ohio F. M. Renick of Falling Springs, W. Va., leaped from the roof of the statehouse and was dashed to death 50 feet below. Ferrell, mureder of Express Messenger Lane, received a visit in the Columbus (0.) jail from the girl for whom he committed the robbery. General Randall, commander of the department of Alaska, estimates that fully 1,000 persons will be made destitute at Nome at the close of navigation. Candidate Woolley of the prohibition party will take the stump as soon as he recovers the use of his dislocated shoulder. The country is to be widely toured. George Ferguson, who superintended the burial of 8,000 bodies in the Kings county, N. Y., potter field, has himself been buried there. He was 68 years old. B. F. Mamreoy, at one time private secretary to William H. Seward, died suddenly at him home in New York, aged 49. He was a Russian, born in Jerusalem. The Bank of Kingfisher, Oklahoma has been closed. Assets are $51,000 and liabilities $61,000, including a claim of $13,000 by the county treasurer. The navy department has decided to reject all the bids for armor plate, but it is said that this does not indicate the government's purpose to build a plant of it own. A new telegraph company, to come into the field as a rival of the Western. Union and Postal concerns, was launched by the Chicago Board of Trade members. The pamphiet issued by the Treasury Department shows that during the last quarter century the greater revenue, save that raised by the war tax, was recorded in 1882. Mayor Frederick E. Prime, an engin eer officer of the union army during the civil war and chief engineer in Grant's Mississippi campaign, is dead at Litchfield. Conn. Collis P. Huntington, president of

6. August 23, 1900 Mineral Point Tribune Mineral Point, WI
Article from Mineral Point Tribune, August 23, 1900

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tet because of the state of t. Goodell of Rockford has ord that she and fifteen heirs to a $50,000,000 estate from the Philippines tells th of Richard Eisenach, Volunteers, a Racine boy, ds. staff Hardware company of assigned, scheduling lia000, with assets sufficient to rs. M. Hitchcock, Omaha pubdemocrat candidate for the tes senatorship, to succeed urston. n bankers met in Milwauretiring president said that the state increased 20 per years. 0 in an advanced stage of as discovered wandering streets of Minneapolis. He ] A tta, Ga., Samuel Robinson, charged with criminal asIrs. George Inzer, was consentenced to hang September ling vessel Maida crashed cks at Sault Ste. Marie, and mpletely, blocks the chanip all shipping. mes E. Keeler, director of observatory and one of the f American astronomers, unt Hamilton. A. Mielenz, German walller of Chicago, committed order that his wife may life insurance. oth Tucker wife of Comoth Tucker of the Salvation ) has been 111 near Asbury , is out of danger. ounced that Senator Marion North Carolina, chairman of st national committee, will ump for McKinley. ractorJ. C. Rodgers declares rapid-transit delay in New ue to John B. McDonald's execute final contracts. nbus, Ohio F. M. Renick of prings, W. Va., leaped from of the statehouse and was death 50 feet below. mureder of Express Messne, received a visit in ibus (0.) jail from the girl he committed the robbery. Randall, commander of the t of Alaska, estimates that ) persons will be made desome at the close of navigae Woolley of the prohibition take the stump as soon as S the use of his dislocated The country is to be widely Perguson, who superintended of 8,000 bodies in the Kings 1. Y., potter field, has himburied there. He was 68 mreoy, at one time private to William H. Seward, died it him home in New York, He was a Russian, born in k of Kingfisher, Oklahoma closed. Assets are $51,000

7. August 24, 1900 The Guthrie Daily Leader Guthrie, OK
Article from The Guthrie Daily Leader, August 24, 1900

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RECEIVER For Kingfisher Bank-Judge Irwin Appoints J. M. Sprice, Scripps-h.cRae Press Ass'n. Kingflsber, Aug. 24.-District Judge Irwin, in chambers, passed upon the application of credi ors of the suspended Bank of Kingfisher for appointment of receiver at El Reno Tuesday night. J. M. Spice, of Kingfisher, brother-in-law of J. C. Post, president of the bank, was appointed upon the request of depositors representing more than half the libilities His bond was fixed at $50,000, which was filed today and approved by the clerk of the district court. Bank Commissioner Search is here to turn over the assets to Rec iver Speice, who enters upon his duties at once. As there is cash on hand to pay nearly 50 per cent of the liabilities and notes falling due shortly. the depositors will get a good part of their money with. out delay.

8. August 26, 1900 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, August 26, 1900

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HE IS PRACTICALLY PENNILESS Mr. Jo, Post of the Defunct Bank at Kingfisher. Guthrie, O. T., Aug. 25.-The Kingfisher Free Press announces that J. C. Post is able to be out and around again. Mrs. Post has returned and is at their home. Mr. Post talks freely about his misfortune, and says if he could have had a few days' time he would have been able to protect every creditor of the Bank of Kingfisher in full. He is anxious to make the best settlement possible, and says that he is willing to turn over everything to the bank creditors. Mr. Post himself says, and It is generally believed, that he has gone out of the bank practically penniless, and, as he had the usual opportunity to provide for himself, the fact that he did not do so is worthy of charitable consideration. The Free Press further says that it is expected that a statement of the bank's condition, covering its assets and Habilities, will be prepared and filed in the district clerk's office at once, and that the money assets will be pro-rated to the creditors with as little delay as possible. No change in the affairs of the bank have been discovered since its doors were closed. The apparent cash assets are as follows: Cash in safe $ 5,651.86 Due from Ft. Worth Nat'l Bank 5,643.88 Due from Citizens bank. El Reno 385.63 Due from Koontz Bros., bankers, New York 2,355.10 Due from Citizens' Nat'l Bank, 14,585.08 Kansas City 1,000.00 Unexplained cash item Total $29,621.55 As soon as Mr. Search took possession of the bank telegraph notices were sent out to the banks named stopping payment of drafts which had not yet been presented. As stated last week, these drafts will (the books show) approximate $3,000, leaving the cash nesets at about $25,000. In addition to this there were overdrafts by business men. customers of the bank, aggregating about $2,000, which ought to be made good at once, If that has not already been done. On this basis, at least 45 per cent could be disbursed to creditors at once. Credftore, however, must not expect too much. There will be need of patience, and a final payment of more than 75 per cent can hardly be expected after matters are finally cleared up and all expenses and losses adjusted. Mr. Spiece, the receiver, in an Interview says: "I will be able, T think, to get matters adjusted in about ten days so that the cash on hand can be distributed to the creditors. T shall hurry matters up as rapidly as possible, because I know that creditors need their money. and ought to have It. or course I know nothing yet of the bank's actual condit tion more than has been made public by Mr. Search. the bank commissioner. T will get matters adjusted without delay, It may take two or three works, but no time will be wasted. Disbursements to creditors can only be made upon the order of the presiding Judge of this district. I have no money in my possession except what was found in the bank safe, a little over $5.000. The other cash assets are in banks at Kansas City, New York, Fort Worth and other places. These accounts must be adjust. ed the first thing. and that will take some time, as any one can see. "The business will be transacted at the People's bank. where 1 have my office. I will begin vigerous efforts to collect all outstanding bills due the bank at once. and, If goes without maying, every man who owes the bank roght to settle at once. I will file statement of liabili. ties and Essets with the district derk as soon as 1 can make It out, and there If will the subject to public inspection. Now, this is about all 1 can say It present, I have just this moment got possession." Bound Over to District Court. Guthris, 0, T., Aug. 5.-Jim Humphrey 3 charged at Weatherford with attempt to has

9. January 10, 1901 The Guthrie Daily Leader Guthrie, OK
Article from The Guthrie Daily Leader, January 10, 1901

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CONDITION OF TERRITORIAL BANKS Commissioner Search Makes Biennial Report of Financial Institutions Territorial Bank Examiner W. S Search has made his biennial report to Governor C. M. Barnes for the years of 1899 and 1900. The report shows all the banks to be in an admirable condition, but Mr. Search's statement speaks explicitely for itself: There are eightly -three teritorial banks doing business in Oklahoma and these have an aggregate capital of $714,177.91. and surplus and undivided profits $316,484.39 with deposits amounting to 2$,979,945.41. The resources In cash and sight exchange aggregate $2,104,200.27. or 53 per cent of deposits. The average of surplus and undivided profits to capital is 44 per cent. The biennial report of Bank Commissioner Pugh for 1898 showed fifty-five territorial banks. There has therefore been an increase of twenty-eight banks in two years which does not include the thirteen territorial banks which have been nationalized. The Lincoln County State Bank. Chandier. The Enid State Bank, Enid. The Cattlemen's State Bank, Mangum. The Kay County Bank. Newkirk. The Weatherford State Bank. Weatherford. The Bank of Tecumseh, Tecumseh, The Stillwater State Bank, Stillwater, The Farmers and Merchants' Bank, Stillwater. The Citizens' Bank, Stillwater. The Commercial Bank, Ponca City, The Bank of Pawnee, Pawnee. The Arkansas Valley Bank, Pawnee The Norman State Bank, Norman. One bank. the Payne County Bank of Stillwater, consolidated with the Farmers and Merchants Bank, of Stillwater. Two banks. the People's Bank of Billings and the Eugene Arnett State Bank of Earlboro went into voluntary liquidation. My examination of the Bank of Kingfisher on the 11th day of, August. 1900 proved it to be In an insolvent condition, and I took possession of It under section 29 of the banking law. Its affairs are now in charge of J. M. Specte, who was appointed receiver by the court. It. is expected that the creditors will realize 75 per cent. To the extent that I have been able to make a personal examination of the banks of the territory since my appointment, July 17. 1900, I have found them generally in a good condition, with the exception heretofore mentioned: and with the amendments to the banking law which experience and personal observation of its practical workings suggest to me as proper to refer to in this report. I believe this office can be placed In a position to favorably compare with similar departments in adjoining states, It ought t to be placed in such a position, as no othOF matter of public interest is of more importance to the people than the proper management of the banking Institutions. except possibly the public schools. Our present law enacted by the last legislature is patterned after that of the state of Kansas, and is a result of a demand by the bankers of the territory that d a judicious supervision might be had over this important branch of business, but to meet the conflicting condition of anfairs then existing ainong those already engaged in business interpoiations were inserted not entirely consistent with sound banking. As an experiment the appropriation made by the last legislature to cover the incidental expenses of the bank commissioner's office and to defray the traveling

10. January 15, 1931 Kingfisher Free Press Kingfisher, OK
Article from Kingfisher Free Press, January 15, 1931

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PICKUPS FROM OUR FILES Forty Years Ago-1891 Hopkins & Kimble have opened a first class short order house in the building formerly occupied by Watkin's restaurant. John Chamberlin has opened oyster parlor adjoining his short-order house on Robberts avenue. W F. Doorley never does anything uring and has nearly complete a fine omnibus with all modern improveOn last Saturday afternoon, I. N. representative from Payne county, shot and killed George W. Embree at Guthrie. The difficulty grew out of a contest case in which Embree appeared as a witness against Terrell. Terrell is the man who tried to kill W. A. McCartney in the house of representatives some weeks He will now have the distinetion of being the first man tried in the territory under the new law. And, as he voted for capital punishme cannot complain if he is the first to suffer The academy resumed work Monday under the faithful charge of G. D. Moss and Miss Mollie Wolf. Miss Edith Marshall, Stella Allen, Grace Allen, Sadie Bentley, Laura Cross and 30 Years Ago Another court house election has been called for the purpose of voting on the proposition to issue bonds in an the sum of $30,000, for the erection of a court house. The election is called for the 22nd day of January. The teachers from Kingfisher atKelley, Laura Ghering, C. H. Robberts, A. L. Shattuck, G.D. Moss and T. J. Stringer Seay postoffice has been discontinued. Oneida postoffice will be discontinued soon. On the 14th inst., the receiver of the Bank of Kingfisher sold the old bank corner and the house and five