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Bank Receiver Gets $30,000 Collected quarterly report of John H. Dykes, receiver of the Nowata National bank, to the comptroller of the forwarded currency shows that in the past three the receiver has collected months more than was collected the nine months. The bank previous closed Feb. 1924.
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DYKES IS RECEIVER OF SAPULPA BANK John H. Dykes, receiver of the Farmers National Bank of this city, First National Bank of Lenapah. Okla.. and the Nowata National Bank of Nowata, Okla., last night received telegraphic advice from the comptroller of the currency in Washington that he has been comof the First National Bank of Sapulpa. Okla., to succeed the present receiver. Frank Wasson, resigned. Sapulpa institution was closed in July, 1923. was one and one-half million dorlar concern. and has paid total dividends of 20 per cent to date. The first of this week Mr, Dykes began paying off to the depositors of the Farmers National Bank in this city dividend of 10 per cent, bringing the to date up to 100 per cent. The bank suspended in March, 1924. Mr. Dykes says he hopes to be able to realize sufficient from the remaining assets to pay the depositors per cent interest on their money from the time they were out it. This the only national bank receivership in the Tenth Federal Reserve district which has ever paid out 100 cents on the dollar. With the goal Dykes has set for himself he bids fair to beat the best record for the whole United States in the matter of paying out insolvent national banks. E. L. Burton and Carl V. Rice are local attorneys for the receiver here. With added duties making total of four banks now on his hands, and with stretch of territory 150 miles long to cover each week, Mr. Dykes' duties will assume more of the executive and directional part of the administration of all these banks affairs, each bank being in charge of an James H. Smith, Parsons young man who was employed in the Farmers National Bank here at its suspension, is Mr. Dykes chief assistant covering all banks in charge of all detail work and the books. "Jimmie" Smith, although 19 of age has become an expert in his line and his services are frequently sought by new to install and set up receivers' books. Dykes and Smith left this morning for Sapulpa to take charge.Parsons, Kan., Republican. Another trouble with the world is that too many people are worrying over their lack of dollars and not enough are worrying over their lack of sense.
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AWAITS DEPOSITORS Five Thousand Fall to Call for Funds in Nowata Bank. NOWATA. Oct. 18 list of approximately five thousand depositors in the defunt Nowata Na. tional bank have yet filed claims for their dividends, has posted in the bank's windows. The list shows deposits ranging from cent to $882.55. The bank has paid 35 per cent in dividends and unless claims are filed the will be sent the comptroller of the treasury and turned back into the United States treasury.
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RECEIVER OPENS FIRST NATIONAL CONSOLIDATED WITH OTHER INSOLVENT BANKS DYKES IS IN CHARGE Liquidated Parsons, Kan., Bank 100 Per Cent Plus 6 Per Cent Interest There has been considerable quandary since the closing of the First National Bank concerning its re-opening The bank is now open under the direction of John H. Dykes, the receiver, who with his assistants consisting of J. H. Smith, L. E. Bredine, E. F. Bollinger and Miss Kathryn Klotzbach, will endeavor to liquidate the bank in speedy manner and make as little loss to the depositors as possible. Mr. Dykes is also ceiver for the Nowata National Bank, the First National Bank of Sapulpa, and the First National Bank of Barnsdall. He is national bank receiver by profession. This is the sixth insolvent national bank that he has liquidated, the first bank being the Farmers National bank at Parsons, Kansas, which he liquidated 100 per cent to the creditors plus 6 per cent interest on their money. Mr. Dykes will make his headquarters in Collinsville and handle all the banks from this point. The Comptroller of Currency in the interest of economy consolidates failed banks under one receiver as in this instance,, and the receiver is paid a flat salary per year to handle as many as he can. Mr. Dykes states that the creditors of the First National are fortunate in this respect as his salary is just the same now with four banks as it was with three before he was placto ed in charge of the local institution. All debtors are urged to call for an interview with Mr. Dykes at once. Those having property left in safekeeping should call for the same immediately as the receiver will not be responsible for it. All depositors may call at the bank and obtain their cancelled checks and statements and prove up their claims. Mr. Dykes appears to be very congenial person but under the condition it makes it necessary for him to be a bit "hard boiled" if the case necessitates. He has the power of both federal and state courts to enforce the collection of debts due the bank. He appears to want to be fair with those having notes with the bank and would like to have them call and Total make arrangements to take care of their paper at once. The News gets the impression that he expects to be fair with those who wish to be fair Deposits with the bank. pledge Collinsville is getting the reputation of having the coolest headed people possible. They have not beDeposits come excited about the losing of any of the industries and there was no great excitement apparent when the last calamity hit the town, although some of the business firms have been compelled to postpone payments to their wholesale houses on this ac849.10 count. However, that is the only thing they could do for any demonTotal strations of violence to any one would not get their money for them any sooner. ter is good as well as vocalist, having played saxaphone and bass in the local bands while merely boy. In fact he started in the boys band organized by the News editor the year the war took all the older band men into the service and boys were all that were left to make up a band. This band was very popular at the Confederate Veterans reunion held at Tulsa that year, and at which time Collinsville was well advertised by her bands. The News is surely glad to see these young musicians making good at their work It only proves that many of our young people at the present time are wasting opportunity by not taking up something useful in their spare time.
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THE OKLAHOMA BANKER for March, 1929 About Banks and Bankers The Security State Bank, Comanche, Okla., for their thrift campaign used the slogan, "Think, Have Money." Cecil E. Harrow has been elected to the Board of Directors of the Columbia National Bank, Kansas City, Mo. A. B. Elias, Vice President of the Southwestern Bell Telephone Company, has been elected a director of the MerchantsLaclede National Bank, St. Louis, Mo. O. L. Bane, Vice President, First National Bank, Waynoka, Okla., advises the contract has been let for extensive remodeling of the interior of the bank. J. A. Salmon, who has been receiver of the First National Bank, Idabel, Okla., for several years, has resigned and will accept a similar position at Bixby, Okla. O. A. Gilbert of Cleveland, Okla., has been appointed by the State Bank Commissioner as liquidating agent of the Fidelity State Bank, Cleveland, Okla., which failed February 15. At a meeting of the officials of the Oklahoma State Bank, Ada, Okla., it was announced that John J. Fleet and Frank Fleet had been included as Directors of that financial institution. Depositors of the defunct First State Bank, Wilburton, Okla., have received a one-sixth dividend. This brought the total to date up to 50 per cent. The sale of the assets of the defunct Nowata National Bank, Nowata, Okla., by John H. Dykes, receiver, to Walter Burden of Nowata, has been disapproved by the Comptroller of the Currency at Washington, D. C. At a meeting of the Board of Directors of the Checotah State Bank, Checotah, Okla., Norman Strahl was elected Assistant Cashier. Mr. Strahl has been connected with this bank for several years in the capacity of bookkeeper. O. W. Jackson, Cashier, and connected with the First National Bank of Houston, Texas, for some 20 years, has accepted a position with the Guardian Trust Company of that city as Active Vice President. He assumed his new duties March 1. Arthur O. Holliday of Faxon, Okla., has acquired an interest in the American National Bank, Walters, Okla., and has been elected Vice President. Mr. Holliday assumes an active position in the bank but does not assume a place heretofore held by any officials of the bank. Mr. Holliday is the founder and President of the Faxon State Bank and will continue his connection with this institution. J. E. Moore, President, Capitol State Bank, has been elected head of the South Oklahoma City Commercial Club. Hiram Boulware Catlett, pioneer citizen, banker and business man of Weleetka, Okla_ died at his home in that city. The First National Bank, Elk City, Okla., will move to its temporary quarters April 1, while iss building is under construction. The Comptroller of the Currency has authorized the distribution of checks for the 10 per cent dividend to be paid by the defunct First National Bank of Collinsville, Okla. The Caddo National Bank, Caddo, Okla., announces that in the future it will be consolidated with the Atoka State Bank, which has assumed its liabilities and acquired its assets. Depositors of the wrecked "National Bank of Commerce in Shawnee," Shawnee, Okla., which closed its doors in April, 1924, received their final dividend check for 8 per cent recently. At a meeting of the Board of Directors of the Commercial National Bank, Durant, Okla., H. G. Wright was elected Assistant Cashier to succeed Dan Mason, who is moving to Caddo, Okla., to become Cashier of the First State Bank, newly organized. Another honor roll bank is the Bank of McAlester. This bank opened two years ago in May and has paid two 10 per cent dividends in that time, and has surplus and undivided profits a little over $1,000 more than their capital. This showing came from the net earnings. The First State Bank. Woodville, Okla. has financed ten 4-H Club boys within a radius of two miles of the bank with purebred registered heifers. The boys are to have two years in which to pay for the calves and in return will grow "cash" crops and feed crops, The First National Bank. Sand Springs, Okla, has surrendered its national charter and has taken out a state charter under the name of the First State Bank, with capital of $25,000 and surplus of $2.500. O. L Stewart is President, Matt White. Active Vice President, and H. E. Stewart is Cashier, T. G. Hinton, who has been in Paden. Okla., as Cashier of the First National Bank, has moved to Prague, Okla., and purchased the interests of C. P. Ellis, Cashier, Prague National Bank, and has been elected President, succeeding Mr. C. C. Bush, Sr., who is retiring as President of the bank, but will remain as Chairman of the Board. Other officers of the bank are: George T. Jepson, Vice President: C. C. Bush, Jr, Cashier, and J. E, Douglas of Shawnee is the new director.