18067. Farmers National Bank (Kingfisher, OK)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
6702
Charter Number
6702
Start Date
November 1, 1905
Location
Kingfisher, Oklahoma (35.861, -97.932)

Metadata

Model
gpt-5-mini
Short Digest
64e00a7f

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1905-11-01
Date receivership terminated
1907-01-17
OCC cause of failure
Losses
Share of assets assessed as good
17.2%
Share of assets assessed as doubtful
37.0%
Share of assets assessed as worthless
45.8%

Description

Bank closed by direction of the Comptroller and placed in receiver's hands (receiver appointed). Closure caused by capital impairment tied to the failure/ownership interest of the Denver Savings Bank; no run reported in the articles.

Events (4)

1. March 30, 1903 Chartered
Source
historical_nic
2. November 1, 1905 Receivership
Source
historical_nic
3. November 1, 1905 Suspension
Cause
Correspondent
Cause Details
Nearly all of the bank's stock was held as collateral or owned by the Denver Savings Bank, which recently failed, impairing the Farmers' capital; voluntary liquidation failed for lack of stockholder vote.
Newspaper Excerpt
The Farmers National Bank, of Kingfisher, Okla., has been closed by direction of the Comptroller of the Currency and placed in the hands of a receiver.
Source
newspapers
4. November 18, 1905 Other
Newspaper Excerpt
Charles T. Cherry, receiver for the Farmers National bank, which failed at Kingfisher as a result of the Denver Savings bank trouble, has found that ... No one will lose anything as a result of the failure except the stockholders, and their loss will not be heavy.
Source
newspapers

Newspaper Articles (13)

Article from The News & Observer, November 2, 1905

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Article Text

CLOSED BY THE COMPTROLLER. The Farmers National Bank, a Small Institution of Kingfisher, Okla. (By the Associated Press.) Washington, Nov. 1.-The Farmers National Bar.k, of Kingfisher, Okla., has been closed by direction of the Comptroller of the Currency and placed in the hands of a receiver. Nearly all of the stock of the Kingfisher bank is held as collateral security or owned by the Denver Savings Bank, which recently failed. The capital stock of the Farmers National is $25,000.


Article from The Salt Lake Herald, November 2, 1905

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OKLAHOMA BANK BROKE. Washington, Nov. 1.-The Farmers' National bank of Kingfisher, Okla., has been closed by direction of the comptroller of the currency. The same men who owned the Farmers' National bank of Kingfisher and the Denver Savings bank also owned the Union Exchange bank of South McAlester, I. T., which suspended following the closing of the Colorado institution.


Article from Daily Press, November 2, 1905

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Oklahoma Banks Fails. WASHINGTON, D. C., Nov. 1.-The Farmers' National Bank of Kingfisher, Oklahoma territory. has been closed by direction of the comptroller of the currency and placed in the hands of a receiver. Nearly all of the stock of the Kingfisher bank is held as collateral security' or owned by the Denver Savings bank, which recently failed. The capital stock of the Farmers' National is $25,000.


Article from New-York Tribune, November 2, 1905

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AN OKLAHOMA BANK FAILS. Washington, Nov. 1. - -The Farmers' National Bank of Kingfisher, Okla. T., has been closed, by direction of the Controller of the Currency. Charles T. Cherry, receiver of the Capitol National Bank of Guthrie, has been appointed receiver. Nearly all the stock of the Kingfisher Bank is held as security or owned by the Denver Savings Bank, which recently failed, and is now in the hands of a receiver.


Article from The Stark County Democrat, November 3, 1905

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OKLAHOMA BANK Closes Following the Failure of the Denver Bank Which Was Interested. Washington, Nov. 1.-The Farmers' National bank of Kingfisher, O, T., has been ordered closed by the comptroller of currency. Charles T. Cherry, receiver of the Capitol National bank of Guthrie, has been appointed receiver. The last statement of the bank, Oct. 25, shows resources and liabilities of $34,593. Nearly all the stock of this bank was held as collateral security or owned by the Denver Savings bank which recently failed.


Article from Palestine Daily Herald, November 3, 1905

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HAS BEEN CLOSED. Farmers' National Bank of Kingfisher, Okla., In Receiver's Hands. Washington, Nov. 3.-The Farmers' National bank of Kingfisher, Okla., has been closed by direction of the comptroller of the currency. Charles T. Cherry, receiver of the Capitol National bank of Guthrie, has been appointed receiver. Nearly all of the stock of the Kingfisher bank is held as collateral securities or owned by the Denver Savings bank, which recently failed, and is now in the hands of a receiver. Subsequent to the fallure of the Denver Savings bank, the bank attempted voluntary liquidation, but was unable to obtain the necessary two-thirds vote of the stock. The capital of the bank is largely impaired by losses which the stockholders were unable to make good in the manner provided by law. The Farmers' National bank was organized in 1903 with a capital of $25,000. It had loans.of $10,000, according to the last statement, and deposits of $30,000. J. A. Hill is president and R. Pappe vice president.


Article from The Semi-Weekly Messenger, November 3, 1905

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National Bank in Oklahoma Closed. Washington, November 1.-The Farmers National Bank of King Fl b. er, Oklahoma Territory, has been closed by direction of the comptroller of the currency, and placed in the hands of a receiver. Nearly all of the stock of the King Fisher is held as 00 lateral security or owned by the Denver Savings Bank, which recently failed. The capital stock of the Farmers National is $25,000.


Article from Bryan Morning Eagle, November 4, 1905

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HAS BEEN CLOSED. Farmers' National Bank of Kingfisher, Okla., In Receiver's Hands. Washington, Nov. 2.-The Farmers' National bank of Kingfisher, Okla., has been closed by direction of the comptroller of the currency. Charles T. Cherry. receiver of the Capitol National bank of Guthrie, has been appointed receiver. Nearly all of the stock of the Kingfisher bank is held as collateral securities or owned by the Denver Savings bank. which recently failed, and is now in the hands of a receiver. Subsequent to the fallure of the Denver Savings bank. the bank attempted voluntary liquidation, but was unable to obtain the necersary two-thirds vote of the stock. The capital of the bank is largely Impaired by losses which the stockholders were unable to make good in the manner provided by law. The l'armers' National bank was organized in 1903 with a capital of $25.000. It had loans of $10,000. according to the last statement, and deposits of $30,000. J. A. Hill is president and R. Pappe vice president.


Article from Willmar Tribune, November 8, 1905

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An explosion occurred in the primer dry house of the Union Cap & Chemical company at Alton, III., causing the death of Foreman Anthone Beechy, who was terribly mangled. The explosion set off 10,000,000 gun and cartridge primers and blew the stone dryhouse to pieces. Two men were killed and three seriously injured by an explosion in the Potomac electric power house in Washington, D. C. Charles J. Devlin, the widely known coal mine operator, who recently underwent bankruptcy with liabilities of $5,631,000, died at St. Elizabeth's hospital, Chicago, as the result of a stroke of paralysis. The Farmers' national bank of Kingfisher, Okla., has been closed by the direction of the comptroller of the currency. Joseph R. Carpenter shot himself in the railway offices of the Rock Island railroad in New York. He was a vice president of the Stickley Brothers' Furniture company, of Grand Rapids, Mich., and the eastern traveling representative for the firm. No reason for the deed is known. The monthly statement of the public debt shows that at the close of business October 31, 1905, the debt, less cash in the treasury, amounted to $1,002,646,125, which is an increase for the month of $6,068,116. W. O. Chadaeyne, of Buffalo, N. Y., has completed a motor cycle run from New York city to San Francisco in 47 days 23 hours and 50 minutes. James H. A. Brooks, a well-known manufacturer of Philadelphia, was killed, Michael G. Price, a business associate, and the wives of the two men were seriously injured in an automobile accident, near Absecon, N. J. Cholera has broken out in Lodz, Russian Poland. A number of cases are reported in the most populous section of the town. Gen. Tchertokoff, an aide-de-camp of Emperor Nicholas and formerly governor general of Warsaw, died suddenly in Paris. President Roosevelt returned to Washington from his visit to the south, thus completing a tour of the entire nation during his term of office. Rear Admiral Train, commander-inchief of the American Asiatic squadron, and his son, a lieutenant, were attacked by a mob in China, and the son is held as a hostage, on account of the accidental shooting of a woman. Thirteen persons were killed and 30 injured in the wreck of the Atchison, Topeka & Santa Fe passenger train, No. 1, which struck a loose rail, ditching five cars, one mile east of Blue River, which is the eastern limits of Kansas City, Mo. The Norwegian storthing has decided to allow the people to vote on the proposition of calling Charles of Denmark to be king. Lord Curzon, the retiring viceroy of India, was prostrated by fever as a result of exposure to the sun. Secretary Taft has been ordered by the president to take personal charge of Panama canal matters, abolishing the office of chief of administration. Cuba is reported to have asked Minister Squier's recall for implication in the annexation plot. Gov. Warner of Michigan plans to compel railroads to restore the northern mileage book. Saloons in Minneapolis must close on Sunday, according to a drastic order issued by Mayor David P. Jones, following a strenuous reform campaign. Paul Morton says the insurance agitation will result in placing the companies on a better basis. Saloon passengers on transatlantic liners in the future will be inspected by federal doctors, like steerage travelers. The Commercial association reported a 20 per cent. increase of Chicago trade in the year ended October 31 over the preceding year, and 100 per cent. over a decade ago. Two men who registered at a hotel in East St. Louis, III., as M. M. Donaldson and Toney E. Donaldson, his son, were found asphyxiated by gas in their room. The younger man was dead. The other was unconsclous. Laws to protect song birds from being killed by cats, requiring license tags for the animals and holding their owners responsible for their depredations, are urged by the president of the National Association of Audubon Societies in New York. Charles H. Darling, has retired from the office of assistant secretary of the navy, which post he has held since December 16, 1901. He is succeeded by Truman H. Newberry, of Detroit, Mich. The United States, Russia, Great Britain, Italy, Switzerland and Brazil have already declared their readiness to enter into official relations with Norway. The life Insurance inquisitors in New York find it necessary to extend the investigation to take in some of the fire companies and those issuing industrial insurance and policies on the lives of children. Charles Nickel, mayor of Chenoa, III., and bank president, was shot and killed by his brother-in-law, William La Duc, who then killed H. D. Jones, who sought to disarm him, barricaded himself in the bank vault and wounded two others. He successfully defied capture for six hours, but finally surrendered. Family troubles caused his


Article from The Muskogee Cimeter, November 9, 1905

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KINGFISHER BANK CLOSES Farmers' National Bank Failed Through Denver Savings Bank WASHINGTON: The Farmers' National Bank of Kingfisher, has been closed by direction of the comptroller of the currency. Charles T. Cherry, receiver of the Capitol National Bank of Guthrie, Okla., has been appointed receiver. Nearly all of the stock of the Kingfisher bank is held as collateral security or owned by the Denver Savings Bank, which recently failed and is now in the hands of a receiver. Subsequent to the failure of the Denver Savings Bank, the bank attempted voluntary liquidation, but was unable to obtain the necessary two-thirds vote of the stock. The capital of the bank is largely impaired by loses which the stockholders were unable to make good in the manner provided by law.


Article from River Falls Journal, November 9, 1905

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MISCELLANEOUS. The Boston suit case mystery was further cleared up when one of two men arrested in New York made a confession, in which he says he and his companion disposed of the body by throwing it into the harbor. The police believe that Susan Geary died at a lying-in hospital. Dr. Percy McLeod, of Boston, has been, arrested in connection with the suit case mystery. He is held on the charge that he was the person who dismembered the body of Susanna Geary. What is confidently believed to be the head of Susanna A. Geary, the dress suit case victim, has ben recovcred in a leather handbag from the bottom of Boston harbor. Minneapolis had a "dry" Sunday, every saloon in the city strictly obeying Mayor Jones' order to close on Sunday. Saloons outside the city, however, did a thriving business. The Endicott board estimates the cost of engineering work on sea coast fortifications at about $16,000,000. American interests at Riga and Rostoff-on-Don are reported to be in peril. Judge McPherson in ' the United States circuit court at Keokuk, Ia., in sentencing union labor pickets to jail for contempt of court, bitterly denounced union methods. President Roosevelt has amended his freight tariff ideas and now advocates a maximum instead of a flat rate. Students from the University of Chicago were employed by Postmaster Coyne as extra clerks to aid in handling an unprecedented rush of mail. Two soldiers were wounded and two others are missing after an attack on a house near Middlesboro, Ky., which had been converted into a fort by a band of desperate and murderous bandits. New York Christian Scientists plan to raise a fund of $200,000 to provide for Mrs. Augusta E. Stetson, founder of the First church. American exports to China show great gains in the last year, in spite of the boycott. Ambassador Sternburg declared that the chief aim of Emperor William is to promote world peace. His policy IS one of friendliness toward the United States. He favors American control of the Panama canal, and wants the open door everywhere. A Wisconsin circuit court judge decided that railroads must pay ad val-crem tax on property in the state. Two men were killed and three seriously injured by an explosion in the Potomac electric power house in Washington, D. C. The Farmers' national bank of Kingfisher. Okla., has been closed by the direction of the comptroller of the currency. W. O. Chadaeyne, of Buffalo, N. Y., has completed a motor cycle run from New York city to San Francisco in 47 days 23 hours and 50 minutes. Cholera has broken out in Lodz, Russian Poland. A number of cases are reported in the most populous section of the town. President Roosevelt returned to Washington from his visit to the south, thus completing a tour of the entire nation during his term of office. Gen. Tchertokoff, an aide-de-camp of Emperor Nicholas and formerly governor general of Warsaw, died suddenly in Paris. Saloons in Minneapolis must close on Sunday, according to a drastic order issued by Mayor David P. Jones, following a strenuous reform campaign. Saloon passengers on transatlantic liners in the future will be inspected by federal doctors, like steerage travelers.


Article from The L'anse Sentinel, November 11, 1905

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$700. The safe was wrecked by dynamite. Hon. L. T. Neal died at Chillicothe, was of acute Bright's disease. He prominent O., in state democratic politics, the being a candidate for governor at late statement state convention. by T. Lee Clark, cashier writA the defunct Allegheny bank, suicide, of few hours before his causing ten charges a W. H. Andrews with ruin. his Dr. C. H. French, president of Huron Ralph college, announced that the Voorhees, (S. D.) of New Jersey had given college $100,000. crop in the southwestern The corn of the belt is badly damaged causing by heavy portions rains, wet weather mold and decay. Henry T. Evans, wife of a com- diMrs. in the National Biscuit by pany, rector committed suicide in Chicago hanging. boom of Speaker Cannen Senator for the The was launched by banquet. presidency at a Hoopeston (III.) to Hopkins treaty with China designed prevaNew hardships and abuses the lent end the at present by providing immigrants for examination of prospective abroad, inport of departure arrival. is at the at the port of Secrestead of by President Roosevelt, of Imtary sought Metcalf and Commissioner migration Sargent. Andrew was crushed mine to Constantine under a fall of rock in the near of death the Gallatin Coal company Nashville, Ill. old union flag was struck SwedThe Sweden and the accompani- new throughout was hoisted to church ish ment ensign of salutes, the ringing of bells and parades of troops, have American missionaries China. Five murdered at Lienchow, been Young, a pioneer of Wisconsjn dropped John ex-sheriff of Sauk county, in dead and while transacting business Baraboo, Wis. Crawford, convicted of box having car C.D. Heine Lundin in a Decemmurdered River, Minn., must die date at ber Elk 5. Gov. Johnson fixed that for the explosion hanging. occurred in the Chemi- primer An house of the Union Cap & the dry company at Alton, III., causing Beechy, cal of Foreman Anthone The exdeath was terribly mangled. and cartwho set off 10,000,000 gun stone dryplosion ridge primers and blew the house to pieces. were killed and three in seri- the Two injured men by an explosion Washously Potomac electric power house in ington, D. C. Farmers' national bank of King- the The Okla., has been closed the by curfisher, direction of the comptroller of rency. total assessed valuation of jew- The The in Mississippi is only $148,850. is 10.eiry number of pistols assessed val593, total upon which there is placed a uation of R. $80,563.60. Carpenter shot Rock himself Island in the Joseph railway offices of the He was a vice railroad in New the York Stickley Brothers' president company, of of Grand Rapids, repreFurniture the eastern traveling for sentative Mich., and for the firm. No reason the deed is known. N. Y., Chadaeyne, of Buffalo, from W. completed O. a motor cycle run in 47 has York city to San Francisco New hours and 50 minutes. days 23 has broken out in of Lodz, cases Cholera Poland. A number seeare Russian reported in the most populous tion of Tchertokoff, the town. an aide-de-camp gov- of Gen. Nicholas and formerly suddenernor Emperor general of Warsaw, died ly in Paris. Roosevelt returned south, to Washington President from his visit to the the entire completing a tour of office. thus during his term of nation J. Devlin, the widely known unCharles mine operator, who recently l'abilities of ho3coal bankruptcy with Elizabeth's of paralysis. derwent pital, $5,631,000. Chicago, died as at the St. result of a stroke The monthly that statement at the close of the of public busi- less debt shows October 31. 1905, the debt. to $1,ness cash in the which treasury, is amounted an increase for 002,646,125, the month of A. $6,068,116. Brooks, 8 well-known was James H. of Philadelphia, manufacturer G. Price, a business men askilled. Michael the wives of the two automosociate, and injured in an were seriously Absecon, N. J. bile accident, near commander-inAdmiral Train, Astatic squadchief Rear of the American lieutensut, were atron, and his son. a China, and the son the tacked by a mob hostage, in on account of is held as a shooting of a woman. killed and Thirteen persons of the accidental the wreck were Atchison, train. No. 30 injured & in Santa Fe passenger rail, ditching Topeka which struck a loose east of Blue River, which City, Mo. 1, five cars, is the one eastern mile limits of Kansas has decidstorthing The Norwegian the people to vote on Den- the proposition ed to allow of calling Charles of CHIPAN of mark to be king. the collains


Article from The Guthrie Daily Leader, November 18, 1905

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Pawnee Times-Record: The Skinner case has been disposed of and Judge John R. Skinner was acquitted by a jury of his countrymen. This is one of the remarkable cases, the facts of which are quite familiar to all our readers. It is remarkable because of the fact that it is not often that the defendant makes a special request to be indicted and tried, and was fully exonerated by the jury. I Charles T. Cherry, receiver for the Farmers National bank, which failed at Kingfisher as a result of the Denver Savings bank trouble, has found that at the time when the bank was closed there were fourteen depositors, two overdrafts, $2,500 liabilities, outside of the capital stock, and $25,000 assets. No one will lose anything as & rosult of the failure except the stockholders, and their loss will not be heavy.