18080. Merchants & Planters Bank (Lawton, OK)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 7, 1907
Location
Lawton, Oklahoma (34.609, -98.390)

Metadata

Model
gpt-5-mini
Short Digest
b0b86944

Response Measures

None

Description

Multiple contemporaneous reports (Nov 7–9, 1907) state the Merchants & Planters' Bank of Lawton suspended on Nov 7, 1907. Subsequent articles report the cashier disappeared and a $50,000 shortage was found and a receiver was appointed (Nov 9), indicating the suspension led to receivership/closure driven by bank-specific malfeasance/embezzlement. OCR inconsistencies in cashier's initials (D. P. / D. R. / N. D.) noted in sources.

Events (2)

1. November 7, 1907 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended and shortly thereafter discovered large cash shortage and disappearance of cashier; suspension appears linked to internal irregularities/embezzlement.
Newspaper Excerpt
The Merchants and Planters' bank of Lawton, a small state institution with $70,000 on deposit and $25,000 capital, suspended business today.
Source
newspapers
2. November 9, 1907 Receivership
Newspaper Excerpt
The bank has been taken in charge by the territorial examiner, H. H. Smock... T. H. Dunn was appointed receiver for the bank today. Shortage of $50,000 is found by the bank examiner. D. R. Rankin... disappeared last night with a shortage of cash in the bank of about $50,000, is still missing.
Source
newspapers

Newspaper Articles (13)

Article from The Pacific Commercial Advertiser, November 8, 1907

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Article Text

Governor to Confer With Bankers Today --- Other Failures Are Reported Throughout the Country --Canada Wants No More Japanese From Honolulu. (Associated Press Cablegrams.) SAN FRANCISCO, November 8.-Governor Gillett has called a meeting of the bankers of San Francisco today to confer with him on the advisability of calling an extra session of the Legislature for the purpose of extending the time in which taxes must be paid. GRAPHOPHONE WORKS SILENT. BRIDGEPORT, Connecticut, November 8.-The American Graphophone Company, which employs two thousand nine hundred hands, has been forced to shut down. OKLAHOMA BANK SUSPENDS. LAWTON, Oklahoma, November 8.-.The Merchants and Planters bank has suspended payment. TEXAS SUFFERS IN PANIC. SAN ANTONIO, Texas, November 8.-The Woods National bank closed its doors yesterday. CHICAGO CAPITALIST GOES UNDER. CHICAGO, November 8.-Earl B. Dumont, a prominent capitalist, has failed. His liabilities are two hundred and two thousand dollars. PRICE OF GOLD RISES IN LONDON. LONDON, November 7.-The Bank of England has set the discount rate at seven per cent, a rise of one per cent on last quotation. The Bank of France quotes four per cent. MANY MILLIONS CONTRACTED FOR. NEW YORK, November 7.-The total amount of gold ordered from Europe to meet the demands here reaches over $39,000,000.


Article from Tonopah Daily Bonanza, November 8, 1907

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Article Text

OKLAHOMA BANK FAILS. LAWTON, Okla., Nov. 7.-The Merchants and Planters Bank of Lawton, a small institution, suspended business today. The bank has deposits of $7000.


Article from Los Angeles Herald, November 8, 1907

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Article Text

SMALL OKLAHOMA BANK SUSPENDS BUSINESS By Associated Press. LAWTON, Okla., Nov. 7.-The Merchants and Planters' bank of Lawton, a small state institution with $70,000 on deposit and $25,000 capital, suspended business today. D. P. Rankin. the cashier, was Republican candidate for state treasurer in the recent election, and was defeated.


Article from Arizona Republican, November 8, 1907

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Article Text

A LITTLE BANK QUIT. Lawton, Okla., Nov. 7.-The Merchants and Planters bank of Lawton, a small state institution with $70,000 on deposit and $25,000 capital suspended business today. D. R. Rawkin, the cashier, was the republican candidate for state treasurer in the recent election and was defeated.


Article from The Salt Lake Herald, November 8, 1907

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Article Text

WEAK CONCERNS FORCED TO WALL Department Store Fails at Providence, R. I.-Connecticut Plants Closing Down. San Antonio, Tex., Nov. 7.-By order of the board of directors of the institution the Woods National bank of this city suspended shortly after noon today on account of the stringency in the money market. W. W. Collier, president of the bank, said: "Our bank is practically solvent and we expect depositors will be paid in full just as soon as we can realize on our assets." The August report of the bank showed deposits of $1,292,296. Providence, R. I., Nov. 7.-A petition in bankruptcy against the O'Gorman company, proprietors of one of the largest department stores in the city, was filed in the United States circuit court here today by the Boston Dry Goods company, Farley, Harvey & Co. and Jacob Dreyfus & Sons, all of Boston and all representing themselves to be creditors of the O'Gorman company. Chicago, Nov. 7.-Earl B. Dumont, a capitalist, today failed. Liabilities were given as $202,000 and the assets as $903,000. The latter is the par value of securities which Dumont declares are now practically worthless. Bridgeport, Conn., Nev. 7.-The American Graphaphone company, employing 2,900 hands, announced today that the factory would shut down tonight for an indefinite period. The close is forced by present financial conditions. The Bullard Machine & Tool company, employing 2,000 hands, is running on half time. Birdseye, Somens & Co., corset manufacturers, employing 2,000 persons, have closed. The notice says that the shutdown is to make an inventory. Lawton, Okla., Nov. 7.-The Merchants & Planters' bank of Lawton, a small state institution with $70,000 on deposit and $25,000 capital, suspended business today. D. P. Rankin, the cashier, was the Republican candidate for state treasurer in the recent election and was defeated. Dayton, O., Nov. 7.-The Kaufman Buggy company of Miamisburg went into the hands of a receiver today on the application of James A. Kaufman, its secretary, and its heaviest stockholder and creditor. The assets of the company are estimated at $150,000 and the liabilities at $95,000. Burlington, Vt., Nov. 7.-Receivers were appointed for the North Pownell Manufacturing company of North Pownell today on petition of the North Adams National bank of North Adams, Mass. The bill of complaint alleged indebtedness amounting to about $1,300,000. The present action is due to the financial stringency and the condition of the Arnold Print works of North Adams, Mass.; to which the North Pownell company sells its products, and which has been placed in the hands of a receiver. The North Pownell Manufacturing company was incorporated in Vermont in 1904 for the manufacture and sale of cotton goods with a capital stock of $300,000. Its assets and property are valued at $1,800,000. The corporation employs about 400 hands in mills at North Pownell. Henry E. Warner, one of the receivers appointed elge the of


Article from The Salt Lake Herald, November 8, 1907

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Article Text

Lawton, Okla., Nov. 7.-The Merchants & Planters' bank of Lawton, a small state institution with $70,000 on deposit and $25,000 capital, suspended business today. D. P. Rankin, the cashier, was the Republican candidate for, state treasurer in the recent election and was defeated.


Article from The Hawaiian Star, November 8, 1907

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Article Text

OKLAHOMA BANK SUSPENDS. LAWTON, Oklahoma, November 8.The Merchants and Planters bank has suspended payment.


Article from Tonopah Bonanza, November 9, 1907

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Article Text

OKLAHOMA BANK FAILS. LAWTON, Okla., Nov. 7.-The Merchants and Planters Bank of Lawton, a small institution, suspended business today. The bank has deposits of $7000.


Article from The Sun, November 10, 1907

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Article Text

Two Banks Fail. DALLAS, Tex., Nov. 9.-The Merchants and Planters' Bank at Lawton, Okla. has failed and is in the hands of the bank examiners. Smook, the cashier, is missing. The private bank of Vineyard, Walter & Co., at Eagle Lake, Tex., has failed. Receivers have been appointed.


Article from The Birmingham Age-Herald, November 10, 1907

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Article Text

BANK CASHIER DISAPPEARS. Shortage of $50,000 Is Found By the Bank Examiner. Lawton, Okla., November 9.-D. R. Rankin, cashier of the Merchants and Planters' bank of this place, who mysteriously disappeared last night with a shortage of cash in the bank of about $50,000, is still missing. The theory of suicide, at first advanced, is now discredited and the police are now working on the idea that he has left the country. No clue to his whereabouts has yet been found. The bank has been taken in charge by the territorial examiner, H. H. Smock. Many irregularities have been unearthed, it is alleged. Among the assets of the bank is an unsecured note of Cashier Rankin for $3100. The estimated liabilities of the institution are $119,250, with assets estimated at $55,169. But $440 in cash was found in the vault by the bank examiner. T. H. Dunn was appointed receiver for the bank today.


Article from The Caucasian, November 10, 1907

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Bank Stops Business. Lawton, Okla., Nov. 9.-The Merchants and Planters' bank of Lawton. a small institution, with $70,000 on deposit and $25,000 capital, suspended business Thursday. D. P. Rankin, the cashier, was the Republican candidate for state treasurer in the recent election.


Article from The Morning Astorian, November 10, 1907

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CASHIER AND MONEY GONE. LAWTON, Okla., Nov. 9.-N. D. Rankin, cashier of the Merchants' & Planters' Bank of this place, who mysteriously disappeared last night with a shortage of the bank's cash of about $50,000 is still missing. The theory of suicide, first advanced, is now discredited and the police are working on the idea he has left the country The bank has gone into the hands of a receiver.


Article from Los Angeles Herald, November 13, 1907

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OKLAHOMA KIEFER, Okla., Nov. 12.-A posse of officers with bloodhounds is in search of three robbers who entered the home of William Natler and, after attacking Mrs. Natler, forced her to give up $40. When Natler returned home he found his wife lying unconscious on the floor. She is in a critical condition. LAWTON-The Merchants and Planters bank of Lawton, a small state institution with $70,000 on deposit and $25,000 capital, suspended business. D. R. Rankin, the cashier, was Republican candidate for state treasurer in the recent election and was defeated. HINTON-Mrs. Anna Densmore, aged 84, died at the home of her daughter, Mrs. J. W. Saylor. She was a native of Kentucky and had survived three husbands. She witnessed the killing of the second in Arkansas by bushwhackers in the Civil war.