18148. Planters & Mechanics Bank (Oklahoma City, OK)

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: April 6, 1911
Location: Oklahoma City, Oklahoma (35.468, -97.516)

Metadata

Model: gpt-5-mini
Short Digest: 62cf232d

Response Measures

None

Description

Bank was a state bank taken over by the state banking board/commissioner and placed in liquidation. Depositors were to be paid from the state guaranty fund. Contemporary reports state there was steady withdrawal but no rush or run. Cause cited as poor/unsatisfactory management; liquidation undertaken by state banking board.

Events (4)

1. April 6, 1911 Receivership

Newspaper Excerpt: The Planters and Mechanies State Bank...J. D. Lankford, bank commissioner, took charge...and will proceed to liquidate its affairs.
Source: newspapers

2. April 6, 1911 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Management judged unsatisfactory by state banking department; commissioner took the bank into liquidation/closing by the state banking board.
Newspaper Excerpt: J. D. Lankford, bank commissioner, took charge of the Planters and Mechanies State Bank of this city Thursday and will proceed to liquidate its affairs.
Source: newspapers

3. April 7, 1911 Other

Newspaper Excerpt: It was announced today that depositors of the Planters and Mechanics Bank of Oklahoma City, which suspended yesterday, will be paid in full from the state bank guaranty fund, maintained by levies on all other banks.
Source: newspapers

4. April 8, 1911 Other

Newspaper Excerpt: Payment of depositors in the Planters and Mechanics bank of this city, which failed yesterday, continued Friday...about $20,000 was paid to depositors from the guarantee fund yesterday. While a steady stream of depositors withdrawing their money throughout the day there was no rush or run on the bank.
Source: newspapers

Newspaper Articles (10)

1. April 7, 1911 The Detroit Times Detroit, MI

Article from The Detroit Times, April 7, 1911

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Late Telegraph News OKLAHOMA CITY-It was announced today that depositors of the Planters and Mechanics Bank of Oklahoma City, which suspended yesterday, will be paid in full from the state bank guaranty fund, maintained by levies on all other banks. LOGANSPORT, Ind.-A case of smallpox quarantined both jail and court house here. Not a single prisoner can be admitted or released. Deputy Sheriff George Harness contracted the disease. CHICAGO-Too much religion is the ground on which George W. Bone wants a divorce from his wife. He says she embraced fifteen faiths, including Dowieism in fifteen years. CHICAGO-Beating a speeding taxt cab, the stork extended himself today. Mrs. Harry Goldstein, bound for a hospital, was taken from the taxi at a drugstore and a seven-pound baby was born. CHICAGO-A practical joker killed James Jureck with a bed spring. The joker asked Jureck to pull the spring taut and then Mr. Joker let go. The freed end of the spring fractured Jureck's skull. WAKEFIELD, Mass-The selectmen have appointed Miss Mary Dignan sealer of weights and measures. GREENWICH, Conn.-Women suffragists divide naturally into two classes," declared Mrs. McDonald Thompson in a letter to the woman suffrage committee of the Connecticut assembly. "Those who have had trouble with their husbands and those who are looking for trouble."

2. April 7, 1911 Tulsa Daily World Tulsa, OK

Article from Tulsa Daily World, April 7, 1911

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OKLA CITY BANK SHUTS UP HOUSE GUARANTEE FUND HAS BEEN CALLED UPON TO HELP. STATE BANKERS HOLD MEET Determined to Resist Payment of the Recent One Per Cent Assessment Special to the World Oklahoma City, Okla., April 6.J. D. Lankford, bank commissioner, took charge of the Planters and Mechanies State Bank of this city Thursday and will proceed to liquidate its affairs. The reason assigned for the closing of the bank is had business management on the part of its office ers. The assets of the bank as shown by its last statement will be fully sufficient to satisfy all claims against it. Depositors will be given checks on other banks. On March 7. its individuals deposits, subject to check, were $213,321.61 demand certificates of deposit, $3,509.43 and time certi. ficates, $49,720.54 The loans and discounts were $252,107.02. and the cash on hand $12,148.67. The bank had $50,000 capital and $100.48 undivided profits Bank Commissioner Lankford would not discuss the affairs of the bank today except to say that the management of it had been unsatisfactory to I the banking department following an investigation and it was deemed adI visable to take it over and liquidate. w All depositors will be paid, the I guaranty fund being applied to straighten out the affairs of the bank. / Bankers Will Resist Payment. Oklahoma City, Okla., April 6Determined to resist the payment of y the one per ment emergency assessment for the bank guaranty fund fol0 lowing which they nationalized their banks, a meeting of former date bankers, was held at the Lee Huckins hotel today to take some action in the matter. The emergency assessment was made on March 7, and immediately there after state banks began to nationalize r until now, according to authentic in. a formation, more than fifty state banks have nati@nalized. It is claimed that If an assessment / is made on the banks before they change to a national bank. and If they should do so immediately afterwards, they are liable for the assess8 ment. How to resist this payment is 8 the matter being considered by the t, bankers. k It is estimated that the bankers at d the meeting today represented $150,000 of this emergency assessment of the guaranty fund, and it necessary the d bankers will take the matter to the United States Supreme Court in the effort to resist the payment of the emergency assessment.

3. April 7, 1911 The Marion Daily Mirror Marion, OH

Article from The Marion Daily Mirror, April 7, 1911

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TELEGRAPHIC TABLOIDS. Wakefield, MassachusettsThe selectmen have appointed Miss Mary Dignan Sealer of weights and measures. New York-Mazie King. a toe dancer walked down the 800 steps in the forty-four floors of the Metropolitan tower. without allowing her heels to touch. in sixteen minutes. Syracuse New York-Rabbi Samuel Goldstein. of Montreal was found guilty of smuggling in diamonds and fined euo 03 sentenced pue 009$ month's imprisonment. Greenwich, Connecticut"Women suffragists divide naturally into two classes." declared Mrs. McDonald Thomp son in a letter to the Woman Suffrage committee of the Con necticut assembly, "those who have had trouble with their husbands and those who are looking for trouble. Winnipeg-The Canadian Pacific Grand Trunk. and Canadian Northern roads will start 170 towns in western Canada this year. New York-Enrico Caruso will sall for home next Tuesday, having sustained a loss of $78,500 by his throat indis_ position, which is really attributed to superstition. New York-The sermon of Daniel S. Tuttle, bishop of Missouri. praising Wall street pleased the brokers so much that part of it was carried on the ticker tape. New York-Only the bravery of Patrolman Marron saved Gregg Franklin. colored from from the hands of a mob of White Plains white citizens. Franklin cut the throat of a street car conductor. Ottawa-Postmaster General Lemieux has rejected new King Geo. postage stamp for Canada and has notified the authorities that unless England furnishes a new and distinctively Canadian design. Canada will get up one of her UMO Philadelphia-At the request of her dying mother, Mrs. Edith Worthington, a young widow, and John White their boarder agreed to marry although neither had ever shown a fondness for the other. Columbus, Ohio-Louis Linek Hungarian artist who JO B defining st SAUS ношлен Governor latter bears a marked likeness to Prince Bismark whose portrait he has also painted. Amherst, Ohio-Charles New & berry, owner of ninety-seven hens that laid 1,997 eggs in 941 01 Wareh, ship on behalf of the hens. SUJARS cents a month for forty-five years, C. W H. Lubber, 18101 and esu 11144 amount to give a dinner April 23, the fiftieth anniversary of 4141N one JO the -JUS ene 01 0140 vivors of that regiment With Interest his dinner fund now totals $239.77 -WB SCM 11-SHO Oldehola nounced today that depositors of the Planters and Mechan_ les' bank of Oklahoma City, which suspended yesterday, will be paid in tull from the state bank guaranty fund. maintained by levies on all other banks. Logansport Indiana-A case of smallpox quarantined both the jail and the courthouse here. Not a single prisoner can be admitted or released. Deputy Sheriff George Harnes contracted the disease. Chicago-Too much religion is the ground on which George W Bone wants a aivorce from his wife. He says she embraced fifteen faiths. including Dowieism. in fifteen years. Chicago- Beating a speeding taxicab the stork extended himself today. Mrs. Harry Go'dstein, bound for a hospital was taxen from the taxicab at a drugstóre and a seven pound baby was born!" Chicago-A practical joker killed James Jureck with a bedspring. The joker asked Jureck to pull the spring out and then Mr. Joker let go, The freed end of the spring fractured Jureck's skull. Milwaukee-To pay an election bet Edward Fuchs a barber, "shampooed" the floor of a local cafe on his hands and knees while an orchestra gave a concert. Milwaukee-Onions and olive oil were credited for the phenomenal health reports from the Third ward. peopled by Italians and Greeks. The food health board recommends the

4. April 8, 1911 The Vinita Daily Chieftain Vinita, OK

Article from The Vinita Daily Chieftain, April 8, 1911

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GUARANTY FUND DRAWN ON TO PAY DEPOSITORS Oklahoma City, April 8.-Payment of depositors in the Planters and Mechanics bank of this city, which failed yesterday, continued Friday. F. G. Dennis of the state banking board, who has charge of the liquidation, stated that about $20,000 was paid to depositors from the guarantee fund yesterday. While a steady stream of depositors withdrawing their money throughout the day there was no rush or run on the bank. A member of the banking board stated that the guarantee fund would sustain a loss but that he could not estimate the amount owing to the fact that the invoice of assets of the failed bank has not been completed. The bank was a small institution with only $200,000 deposits which the banking officials. believe will make liquidation comparatively easy without drawing heavily upon the guarantee fund. Asked how much money remains in the guarantee fund Bank Commissioner Lankford declined to state the amount or to estimate the amount collected under the recent one per cent special assessment.

5. April 12, 1911 The Columbus Journal Columbus, NE

Article from The Columbus Journal, April 12, 1911

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General. President Diaz says he will step aside if the people SO wish. The president's message to congress was limited to reciprocity. Americans think the troops of Diaz in northern Mexico are bottled up. The army maneuvers in Texas are proving of great benefit to the troops. A policy of conciliation has been agreed to by the two factions of the republican party in the senate. Oklahoma state school land commission has announced it will sell 1.535.862 acres. beginning June 23. Premier Giovanna Gioletti presented his associates in the new cabinet to the Italian parliament. Members of the Brooklyn institute which expelled Dr. Cook. elected Admiral Peary to honorary membership. Capt. Palmer. ex-postmaster and prominent in business and Grand Army circles, died suddenly in Omaha. The Planters and Mechanics' bank, Oklahoma City, has closed its doors and its affairs are in the hands of the state banking board. The Chinese authorities have made elaborate preparations for the international medical conference to begin at Mukden to investigate the plague situation. Suit has been brought in federal court in Denver asking the appointment of a receiver for the Oklahoma Land and Colonization company of Moffat. Colo., and Kansas City. A son was born to Mr. and Mrs. Charles Cary Rumsey at the home of Mrs. Rumsey's mother. Mrs. E. H. Harriman. Mrs. Rumsey is the daughter of the late E. H. Harriman. The hull of the sunken battleship Maine in Havana harbor will be exposed not later than June 1, according to Frank M. Daniels, the contractor who built the coffer dams around the ship. For a man who has been called a "has been." Bryan caused a stir in Washington democratic ecuncils. Nebraska's three democratic members of the house fared well in the committee assignments which were reported to the caucus. Henry Suits, aged 105 years, died at Council Bluffs, la. He built the first house in Omaha and has resided in Council Bluffs 58 years. The 200 additional officers granted the army by the last session of congress will be distributed among the grades from first lieutenant to colonel. H. H. Kohlsaat gave the name of the man who said a corruption fund had been raised to elect Lorimer. Denman Thompson, veteran actor, stricken with heart trouble at his home in West Swanzey, N. H., may not recover. Assets of the defunct Carnegie Trust company. New York. have been fixed at $7,573,598. Liabilities have not yet been scheduled. Fire that destroyed the carpet making plant of the Cochrane Manufacturing company at East Dedham. Mass.. caused a loss estimated at $200,000.

6. April 13, 1911 Wood County Reporter Wisconsin Rapids, WI

Article from Wood County Reporter, April 13, 1911

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Oklahoma Bank Suspends. Oklahoma City, Okla.-The Planters' and Mechanics' bank of this city, capitalized at $50,000, closed its doors Thursday. It is in the hands of the state banking board. Announcement was made that depositors will be paid in full.

7. April 13, 1911 The Manitowoc Pilot Manitowoc, WI

Article from The Manitowoc Pilot, April 13, 1911

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8. April 13, 1911 River Falls Journal River Falls, WI

Article from River Falls Journal, April 13, 1911

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9. April 14, 1911 The Weekly Chieftain Vinita, OK

Article from The Weekly Chieftain, April 14, 1911

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GUARANTY FUND DRAWN ON TO PAY DEPOSITORS Oklahoma City, April 8.-Payment of depositors in the Planters and Mechanics bank of this city, which failed yesterday, continued Friday. F. G. Dennis of the state banking board, who has charge of the liquidation, stated that about $20,000 was paid to depositors from the guarantee fund yesterday. While a steady stream of depositors withdrawing their money throughout the day there was no rush or run on the bank. A member of the banking board stated that the guarantee fund would sustain a loss but that he could not estimate the amount owing to the fact that the invoice of assets of the failed bank has not been completed. The bank was a small institution with only $200,000 deposits which the banking officials believe will make liquidation comparatively easy without drawing heavily upon the guarantee fund. Asked how much money remains in the guarantee fund Bank Commissioner Lankford declined to state the amount or to estimate the amount collected under the recent one per cent special assessment.

10. April 18, 1911 Wausau Pilot Wausau, WI

Article from Wausau Pilot, April 18, 1911

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