Sallisaw Bank & Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: January 1, 1928*
Location: Sallisaw, Oklahoma (35.460, -94.787)

Metadata

Model: gpt-5-mini
Short Digest: 969522de

Response Measures

None

Description

The articles (Jan–Aug 1928) describe the Sallisaw Bank & Trust Company as having went to the wall and being taken over by other local nationals; later a sheriff's sale/foreclosure listing the bank as a defendant and trustees for depositors indicates permanent closure/foreclosure and receivership actions. No article describes a depositor run prior to suspension. Classified as a suspension leading to closure (receivership/foreclosure).

Events (3)

1. January 1, 1928* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Article states the Sallisaw Bank & Trust went to the wall and was taken over by other banks, implying bank-specific insolvency/failure leading to suspension.
Newspaper Excerpt: Calamity has seen the winter shows of twelve years... His experience with high finance began when the Sallisaw Bank and Trust company went to the wall
Source: newspapers

2. August 31, 1928 Receivership

Newspaper Excerpt: Notice... Trustees for the depositors of the Sallisaw Bank Trust Company, corporation... the undersigned, Sheriff of Sequoyah County... to satisfy judgment and decree of foreclosure... and for the appointment of receiv- (receiver).
Source: newspapers

3. September 4, 1928 Other

Newspaper Excerpt: Notice is hereby given... to sell in bulk... where in M. H. Fitch plaintiff and Sallisaw Bank and Trust Company, corporation ... directing me, the undersigned, Sheriff of Sequoyah County ... will on Tuesday, the 4th day of September, 1928 ... offer for sale and sell in bulk ... to satisfy judgment and decree of foreclosure in favor of plaintiff against the defendants ... and for the appointment of receiv- ... Court Sequoyah County for plaintiff. Aug. Sept (Sheriff's sale / foreclosure notice; trustees for depositors named).
Source: newspapers

Newspaper Articles (4)

1. January 3, 1928 The Democrat-American Sallisaw, OK

Article from The Democrat-American, January 3, 1928

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Article Text

Charter for New Bank Approved His Politics May Not Be Democratic But He Has Suffered Four Defeats By "ES" Opdyke There was a little kicking man, His name was Simon Slick: He owned a mule with dreamy eye Oh: how that mule could kick However children. this is not the mule we are going to tell you about in today's short story. Our subject, is just plain "honery red mule, and his name is "Catamity," and if rumor be correct he comes by it honestly. Calamity has seen the winter shows of twelve years, and has done his part in producing Sequoyah countys cot ton output, but if Calamity could talk we imagine him saying, "I just no ways can keep outen bad luck." Calamity is not a "kicking mule" otherwise he could justly out kick some of our people who lost money in recent bank failures, for Calamity has been through four of them. Unlike other collateral with has from time to time been turned to the Federal Reserve Bank. Calamity has never been given a trip to K. C. but is being held in a mule lot in his old home town. His experience with "high finance began when the Sallisaw Bank and Trust company went to the wall, getting himself "out of hock' by reason of his good looks and pulling ability, be soon became an asset of the Citizens National, only to be taken over little later on by the First National Barely had he again attained his freedom from the Federal authorities of the latter institution, than he strayed over to the American National where Charlie Hampton became his temporary Godfather, and he was again booked, to experience the "torment of the damned." We understand that a meeting of the various stockholders of the banks to be, will join in a resolution, that from now on Calamity is too be barred from becoming connected in any way shape or form with the responsibilities of our financial institutions In as much as Calamity seems to be more or less of a Jonah to our banks we suggest that a provision be made barring his name from any future banks to be, for he is only 12 years old and unless someone ties him to a railroad track. he is good for two or three more unpleasant experiences

2. January 6, 1928 The Muldrow Sun Muldrow, OK

Article from The Muldrow Sun, January 6, 1928

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Article Text

MAY NOT BE DEMOCRAT BUT HE SUFFERED DEFEATS (From Sallisaw American) By "ES" Opdyke There was little kicking man, His name was Simon Slick; He owned mule with dreamy eye Oh! how that mule could kick However children, this is not the mule we are going to tell you about in today's short story. Our subject, just plain "honery" red mule, and his name is "Calamity," and if rumor be correct he comes by it honestly. Calamity has seen the winter snows of twelve years, and has done his part in producing Sequoyah countys cotton output, but if Calamity could talk we imagine him saying, just no ways can keep outen bad luck." Calamity is not "kicking mule" otherwise he could justly out kick some of our people who lost money in recent bank failures, for Calamity has been through four of them. Unlike other collateral which has from time to time been turned to the Federal Reserve Bank, Calamity has never been given trip to K. C. but is being held in a mule lot in his old home town. His experience with "high finance" began when the Sallisaw Bank and Trust company went to the wall, getting himself "out of hock" by reason of his good looks and pulling ability, he soon became an asset of the Citizens National, only to be taken over little later on by the First National. Barely had he again attained his freedom from the Federal authorities of the latter institution, than he strayed over to the American National where Charlie Hampton became his temporary Godfather, and he was again booked, to experience the "torment of the damned." We understand that a meeting or the various stockholders of the banks to be, will join in a resolution, that from becoming connected in any way shape or form with the responsibilities of our financial institutions. In as much as Calamity seems to be more or less of a Jonah to our banks, we suggest that a provision be made barring his name from any future banks to be, for he is only 12 and unless someone ties him railroad track, he is good for to a or three more unpleasant experiences

3. January 6, 1928 The Muldrow Sun Muldrow, OK

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Article Text

HE MAY NOT BE A DEMOCRAT BUT HE SUFFERED DEFEATS (From Sallisaw American) By "ES" Opdyke There was little kicking man, His name Simon Slick; He owned mule with dreamy eye Oh! how that mule could kick However children, this is not the mule we are going to tell you about in today's short story. Our subject, is just plain "honery" red mule, and his name is "Calamity," and if rumor be correct he comes by it honestly. Calamity has seen the winter snows of twelve years, and has done his part in producing Sequoyah countys cotton output, but if Calamity could talk we imagine him saying, just no ways can keep outen bad luck." Calamity is not "kicking mule" otherwise he could justly out kick some of our people who lost money in recent bank failures, for Calamity has been through four of them. Unlike other collateral which has from time to time been turned to the Federal Reserve Bank, Calamity has never been given a trip to K. C. but is being held in a mule lot in his old home town. His experience with "high finance" began when the Sallisaw Bank and Trust company went to the wall, getting himself "out of hock" by reason of his good looks and pulling ability, he soon became an asset of the Citizens National, only to be taken over little later on by the First National. Barely had he again attained his freedom from the Federal authorities of the latter institution, than he strayed over the American Nationwhere Charlie Hampton became his temporary Godfather, and he was again booked, to experience the "torment of the damned." We understand that a meeting or the various stockholders of the banks will in resolution, that to be, join from becoming connected in any way shape or form with the responsibilities of our financial institutions. In as much as Calamity seems to be more or less of Jonah to our banks, we suggest that provision be made barring his name from any future banks to be, for he is only 12 years old and unless someone ties him to a railroad track, he is good for two or three more unpleasant experiences

4. August 31, 1928 The Democrat-American Sallisaw, OK

Article from The Democrat-American, August 31, 1928

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Article Text

NOTICE OF SHERIFF'S SALE Notice is hereby given in puran order of sale issuer out suance the District Court of Sequoyah State of Oklahoma, the County, 1st of August, in day action then pending said court, an wherein M. H. Fitch plaintiff and Sallisaw Bank and Trust Company, corporation, the State of Oklahoma Ex. Rel. B. Mothersed, Bank missioner Harmon, R. Kobel and Cherry as Trustees for the depositors of the Sallisaw Bank Trust Company, corporation. American National Bank of Sallisaw, corporation, Waddell Investment Company, corporation, The Peoples Trust the Company, Liberty National Bank of Kansas City, Beachy and Williams, were the defendants, directing me, the undersigned, Sherof Sequoyah County, State of Oklahoma, to advertise and sell in bulk entirety and not in separate tracts parcels without appraiseor ment or valuation the following scribed real estate, situated quoyah County. State of Oklahoma, to-wit: The northeast quarter of the northeast quarter of section and the northeast of the northeast quarter of the northeast quarter and three acres in the northB. east corner of the southeast quarter of the northeast quarter the of section four northeast quarter (4) township 11 north and range 25 east, and the sotuheast quarter of the southeast quarter the of section 33, southeast quarter north and range township containing in all east, more or less. arces To satisfy judgment and decree of foreclosure in favor of plaintiff against the defendants for B. satisfaction of the sum of $1,672.00 thereon at the rate of with interest ten percent per annum, from the 25th 1928 until paid day of January further of $150.00 and the sum fees and $4.50 as costs attorney's supplemental and the of of this action and all costs cruing costs. satisfy judgment in favor Also to National Bank subof the Liberty of plaintiff for the ject to judgment of of with satisfiction of the snm thereon at 18 percent from interest November, 1922; the sum the 9th day with interest at the rate of the 10th day of percent from the sum of 1923, and the rate 18 20 with interest the 26th day of Seppercent from 1925 and the sum tember, with interest at the rate the 29th day of Seppercent from 1926, until paid. tember, also to satisfy judgment And subject to the favor of Grant, and of the judgment of plaintiff Bank defendant, Liberty for the satisfaction Kansas City, $90.00 with percent the sum of Decemfrom the first day terest of $90.00 with ber the sum the of ten percent per terest at rate of Decemfro mthe first day annum of $90.00 with ber, 1925 and the sum the rate of ten percent per interest at 1st dap of Decemfrom the annum. ber, 1926. 4th day of Tuesday, the will on 1928, the hour at September the front door o'cock M. at ten Court House in the the County Sequoyah County, City of Sallisaw, offer sale and State of Oklahoma, and best for cash to the highest sell bulk an entirebidder therefor ,in as in separate tracts or and not lands and tenements cels, the for the before particularly interof said judgments. fee as costs and attorney' est, quired and directed in said order of sale. WHEREOF, have IN WITNESS this the 1st set hand on hereunto my 1928. day of August JOHNSTON, JOHN of Sequoyah County, Sheriff State of BY JAS. Deputy. Frye and Frye, for Attorneys Aug. North half of southeast quarter of section, township eleven north, range east of said judgment will further order sale of said real estate without appraisement and will order the application the proceeds of said sale to the satisfaction of said mortgage and judgment, attorney's fee and costs, and will foreclose and bar all your right, title and interest and said premises, and such other relief as may equitable the premises, proper and for the appointment of receiv- RAYMOND P. DRAKE, Court Sequoyah County and JOHNSON. for plaintiff. Aug. Sept Forty of constant use is the years best proof of the effectiveness of White's Cream Vermifuge for expelling worms in children or adults. Price, 35c. Sold by Ivey's Drug Store, Sallisaw