18197. Seminole State Bank (Seminole, OK)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 4, 1926
Location
Seminole, Oklahoma (35.225, -96.671)

Metadata

Model
gpt-5-mini
Short Digest
bcc189c5

Response Measures

None

Description

The Seminole State Bank was taken over by the state banking department in early March 1926 after investigations revealed large shortages (about $40,000) and alleged embezzlement by officers. Officers were arrested or fled; the bank is described as 'defunct' in later articles and associated prosecutions and convictions followed, indicating permanent closure/receivership. No article describes a depositor run on this specific bank.

Events (1)

1. March 4, 1926 Suspension
Cause
Bank Specific Adverse Info
Cause Details
State examiners discovered large shortages (~$40,000) and alleged embezzlement by officers (president R. E. Steigleder and cashier E. Owen), prompting the state banking department to take over and close the bank.
Newspaper Excerpt
the Seminole State bank at Seminole, which was taken over yesterday by the state banking department... only $25 in cash was found in the ... although deposits were recorded at $65,000. Forty thousand dollars of the bank's funds shown on the books being [missing], the commissioner said.
Source
newspapers

Newspaper Articles (8)

Article from The Ardmore Daily Press, March 5, 1926

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FORMER CASHIER HELD IN WEWOKA PENDING CHARGES Arrested While Attempting to Make Bond in Office of Attorney at That Place TELLS OFFICERS THAT HE WAS DOUBLE-CROSSED National Bank at Keifer; Steigleder Was Formerly Stock Holder CITY, March E. Owen, cashier of the Seminole State bank at Seminole, which was taken over yesterday by the state banking department. was arrested late today at the office of an attorney at He taken into custody while was arranging for bond prelinimary to to the sheriff's office, where he ing said he intended to present himself for service of warrants issued earlier in the day. He was placed in jail. Continue Search. Search was being continued tonight for R. E. Steigleder, president of the bank, for whom warrants also were issued. The bank in the hands of the state bank examiners. O. B. Mothersead, state bank commissioner, said that only in cash was found in the although deposits were recorded at $65,000. Forty thousand dollars of the bank's funds shown on the books being bank were found to be the commissioner said. Thus far Mothersead has declined to name the bank where the money was supposed to be. Bank Is Closed. second bank in the state closed today, less than 24 hours after that at Seminole taken over by was state authorities. was the First National bank at Keifer. L. national bank examiner, was in charge tonight, but declined to make statement pending investigation of the books. Steigleder at one time held interest in Keifer but had severed the connection some time ago. Steigleder reported located by county officers late today, with his arrest expected before morning. A rumor said he was seen in Seminole last night, but this could not be verified.


Article from The Tulsa Tribune, March 17, 1926

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BULLETINS DEFER OWEN-LAUER TRIAL March preliminary hearing of W. and R. charged embezzlement in connection the closing of the First National bank of Klefer and the Seminole State bank of Semnote, for today was in. definitely postponed when veloped that M. C. Trimble, bank examiner and chief witness against the bank officials, should not on of the father. president the disappeared when closed and has yet cated. He also charged with A TEXAS BANK HOLDUP HOUSTON, Texas. March lone bandit the bank door up officers and customers of Citizens State bank of this city this mornIng. escaping with $2,000.


Article from Tulsa World, March 18, 1926

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SICKNESS DELAYS BANKERS HEARING Star Witness Unable to Attend Trial of Kiefer and Seminole Bank Heads. By the Associated Press State Wire WEWOKA. March preliminary hearing of W. C. Lauer and R. E. Owen, charged with embesale. ment in, connection with the closing of the First National bank of Kiefer Seminole State bank of Sem Inole, scheduled for Wednesday was veloped that M. C. Trimble state bank examiner and chief witness against the bank officials. could not attend on account of illness of his father. Trimble conducted the recent Investigation Into the financial condition of the Seminole institution which resulted in its being closed. Owen was cashier of that bank and Lauer is president of the Kiefer bank Both are held in the count Jail here in default of bond R. E. E. Steigleder, president of the Seminole bank, disappeared when It was closed and has not yet been found. He is also charged with enibezzlement. Bank Receiver Named SAPULPA. March 17. R. B. Butts of Muskogee was named to ceiver today for the First National bank at Kiefer


Article from The Oklahoma News, April 17, 1926

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ORDERED HELD IN TEXAS Wanted for $100,000 Shortage in Books IS IN BROWNSVILLE Steigleder Also Was Connected With Keifer Bank R. E. Steigleder, missing president of the defunct Semi nole State bank has been los cated at Brownsville, Tex., ac cording to word received Sat urday by the State Bureau of Investigation. Arrest of Steigleder, who fled state the failure of bank when shortages amounting is expected momentarily Dr of the State said Inside Job Alleged filed alleging he his The falled March disappeared the day fore state banking closed Two days later the First bank at Keifer said to have been owned by banking that tome states have to the bureau the search for missing cashier of the was arrested after the failure charged with of the Another Involved alleged chased the Kelfer bank from Stelgle all the cash deposits the Seminole bank was missing the state the total of should have been in the check the books that $40,000 was deposited in the Kelfer bank No record of this was found the Keffer bank. was this that to the


Article from The Enid Morning News, May 5, 1926

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STEIGLEDER GIVEN TRIAL; BACK TO JAIL R. E. E. Steigleder, president of the failed Seminole bank, waived preliminary trial today when he was brought before County Judge T. O. Criswell, and was bound over for trial in state district court. He pleaded not guilty to a charge of embezzlement in connection with the bank's closing Steigleder was remainded to jail in default of $33,000 bond. His bond was set at $25,000 on the embezzlement charge, and $2,000 on each of four charges of accepting deposits in an insolvent bank. The banker recently was brought back from Brownsville, Texas, where he was arrested. He fled fol lowing the closing of his bank.


Article from Tulsa World, July 20, 1926

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JENKS BANKER HELD IN FRAUD J. B. Simmons Is Facing Charge of Accepting Deposit After Failure SOLICITED MONEY Charge He Urged Ice Company to Send in Cash After Learning of Crash B. Simmons, president of the First State bank of Jenks which closed its doors July 3, was arrested for alleged violation of the state before Common Pleas Judge Saul A. Yager. He pleaded not guilty, and made his bond of $5,000. Simmons is accused of soliciting deposit of $220.40 from C. R: Fray, operator the Jenks Ice company, on the afternoon 3, after the banker had learned of the insolvenof his institution. State banking laws prohibit the acceptance of deposits by defunct banks Rumors of a threatened run on the bank caused it to close its doors July 3. according to an announcement by officials, who said at the they had full confidence in the institution's solvency, but desired an audit by the state bank examiner to restore the faith of worried deW. Schoffmer, Oklahoma City, state bank examiner, is conducting an audit of the First State bank now. He declined to make statement on the progress of his investigation Monday, saying that announcement of his findings will come through the state offices. Preliminary hearing for the bank president was set for July 26. The First State bank of Jenks failed several years ago, when It was operated as the Bank of Jenks. After the crash It was reorganized by R. E. E. Steigleder, who subsequently sold his Interest to Simmons, and went to Kiefer where he founded the First National bank. Steigleder is now facing charges of violating state and federal bankIng laws result of the collapse of the Kiefer bank and the Seminole, Okla., State bank. Simmons refused to make a statement on the arrest, except to deny that Steigleder had ever been connected with the bank. Tulsans long familiar with the institution, and the state examiners' records, furnished the Steigleder information.


Article from McAlester Democrat, October 7, 1926

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ROUND ABOUT US Marriage licenses were issued in Atoka County last week, as follows: J. D. Syarrow and Warmah Beck, Coalgate; Oather Lovett and Mollie Jarnagan, Caney; Walter Smith, Waldron, Ark., and May Muse, Wardville. Suits for divorce were filed in Atoka County as follows, last week: H. W Sutherland against May Bell Sutherland, and Hannah Wallace against Monroe Wallace. The Baptist congregation at Stringtown has built a new church. M. A Bailey of near Wilson, charged with the killing of William Hunt, last May was convicted at Ardmore last week and given 20 years in prison. Family trouble led to the killing, it is said. Henry Beckelman. aged 15. for the past 27 years an engineer the Santa Fe railway between Texas and Ardmore, was killed in an auto accident in Ardmore, one evening last week He Mrs. Bertha McDermitt and came to town at a high speed. The car got out control corner turn and turtled. killing Beckelman and ously injuring his companion Kiowa last week defeated the proposition for an issue of $20.000 in bonds to erect new school building to take care of the overcrowded conditions in the city schools. The vote was 161 against and 66 for the bonds. Eufaula reports rainfall of 10 inches in 36 hours, last week creating one of the worst flood conditions in the history of the community. River KS flowed out of their banks rops were badly damaged Some business houses in Eufaula had water six inches deep over their floors. Ed Williams, living near Pearce, in McIntosh County, is in jail at Eu faula. He admits killing Jess Ward. of Lenna, two weeks ago, by cutting his throat during a row, but claims self defense. He fled from officers at first. but later surrendered. Loraine Wicher and Nettie Hensley, two high school girls from Whitesboro, Texas, were arrested at Eufaula last week by the sheriff and held until relatives could come and get them. They left home afoot, but had caught numerous car on their way up the Jefferson Highway Seven men were arrested by Me Intosh County officers, last week, on the South Canadian River. some fif teen miles southwest of Eufaula, charged with operating a mammoth still. The still was confiscated and 40 gallons of liquor taken The still was running whiskey when the officers broke up the game The men arrested are Jim Boyd, John Monroe, Arthur Campbell, John Cook. Bill Pierce, Howard Norman and Amos Harris. Muldrow sustained $60,000 fire last week, the principal losers being W D. Blackard & Son, Mrs. S. D Moreland, H. 0 Wolfe, Tay Brown Mercantile Company, J. R. Parker, C. A. Woods, Fred Leach, Noble Bryan Drug Company and others C. E. English formerly a merchant at Walters, was arrested at Laredo, Texas. last week, on charges of embazzlement bankrupt funds The charges had been pending 14 years, the alleged embez zlement having taken place in 1912. Four prominent Anadarko merchants, charged with making false claims to the government in connection with the furnishing of supplies for the Anadarko Indian School, must serve terms in federal prison, as the result of a decision in the U. S. circuit court of appeals. The men are B. W. Hammert, one of the wealthiest men of the city, and Clyde Thompson, each of whom get ten months in federal jail; also Frank Callahan, manager of the Anadarko Lumber Company and Ray Jennings manager of the Anarim Lumber Company each of whom get two years in federal penitentiary at Leavenworth. Prevailing bad weather during the state fair at Oklahoma City threw the $50,000, and this amount was raised fair association "in the hole' about by merchants in that city and all debts paid before the fair was con A state wide search is on for R E. E. Steigelder former president of the defunct Seminole State Bank, and for R. E. Owens, his cashier and Clay Holt, #3 negro. New indict ments have been returned against the men, it is said, Steigelder and Owens alread being under heavy bond for alleged irregularities in connection with the operation of the bank Holt is said to have run a used car exchange financed on funds alleged to have been taken from the bank by Steigelder and Owens. Lee Cruce, former state governor, is to speak at Holdenville October 15. in support of the democratic ticket. District court was concluded at Wilburton last week with the fol lowing in the crfiminal divi sion: G. S. Phillips, arson, years in prison; J. D. Dodd, driving while drunk, fined $25 and costs; Freeman Williams, seduction, acquitted; Haskell Welch, seduction, dismissed on payment of costs by defendant: Luther Hall, assault to-rape, 60 days in jail and $250 fine: Walter Jeffrey, seduction, dismissed on payment of costs by defendant; J. H. Garland, perjury, dismissed; W. B. Turner, disposing of mortgaged property, dismissed. John F Wallace, charged with the murder of Lem Brazzle, was acquitted. issued in Latimer County recently as follows: Nathan Greenmyer and Tillie Spring er, Yanush; E. W. Roe and Callie Deatheridge, Cambria; S. V. Bell, and Francis Nichols, Henryetta; Vergil Baker and Bertha Batman, Hartshorne; Marshal Cox and Monnie Colvard, Wilburton: Herbert Rose and Edna Meadows, Talihina; Haskell Noah and Ethel Adams, Red Oak Bennie Adams and Lorena Brown, Red Oak; Elmer Erwin, Cambria, and Grace Nation, Haileyville; Willie Hughes, Hot Springs, Ark. and Hat tie Black, Wilburton Jesse Allen, Hartshorne, and Eva Roe Wilburton. Allen Burk aged 25, was shot and killed by Ethelburt Milburn, at Hugo, one night last week, as he was in the act of taking the Milburn car from its parking in the front yard. Milburn was awakened by his wife who said some one was trying to steal the car. When he went out on the porch he saw Burk at the car and fired, with fatal effect. The state criminal court of appeals has held valid the indictments returned some months ago against four Pushmataha County officers, and they are no wfacing removal from office The indicted men are County Judge George R. Childers, County Attorney Louis Gossett, Sheriff Nevins Kil patrick and W D. Hastings, county clerk Citizens of Hugo and Paris, Texas and other immedaote points held joint celebration at Arthur City Red River, Tuesday in honor og the completion and opening of the new bridge across Red River that point This takes the place of the bridge that was washed away by floods two years ago Elmer White, aged 12, living at Swink, Choctaw County, was ac cidentally shot and killed by a com panion one day last week, while the two boys were out hunting doves Joe Sloan. of Ada, former sheriff of Pontotoc County, died last week He W native of Arkansas and 52 years old Prof. A. Floyd, principal of junior high school at Ada, has gone into the poultry business, and will undertake to incubate young chickens 12,000 at time. The Pontotoc County fair associa tion is in such healthy condition that it was able this year to pay a dividend to stockholders. after all ex penses of the fair had been met. T A Ehope, formerly in the em ploy of the Katy railway at Atoka was one of the victims of the recent storm at Miami, Fla., according to word by his son. L. Shope, of Atoka, last week. Antlers, has called bond ue election for October 25. when votes will be taken on the question of is suing $25,000 in bonds to improve the city waterwarks. Marriage licenses were issued in Hughes County last week, as follows Mike Eneff and Ruth Call. Cromwell: Thomas Morsythe and Katherine Doyle, Atwood; M. Johnson and Mrs. M. A. Rigsby, Ada; J. M Underwood and Annie McNinn, Holdenville; Miles Harwoodand Esther Smith, Holdenville; Raymond Nichols, Castle, and Velma Farrell, Wetumka; Willie Harjo and Lizzie Walker, Wewoka; Ernest Allen and Roma Harwell, Wetumka: Verda Cobb, Wewoka, and Lillian Bryson, Tecumseh. Suit for divorce was filed at Holdenville last week in the following case Nora Gatewood against Shelley Gatewood. Nearly nine inches of rainfall was reported at Holdenville. last week, and considerable crop damage was in Oscar Wiseman, adopted son of Mr and Mrs Ed Wiseman, of Holdenville, died last week from an attack of typhoid Contract will be awarded October 12 for the hard-surfacing of the Seminole County section of the Hol-


Article from The Frederick Leader, March 8, 1927

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BEGGS BANKER FOUND GUILTY CONSPIRACY Defendant Is Guilty On Eight Of Seventeen Charges of Defrauding In Bank Tulsa March R 1. A. Steigleder former Beggs banker Monday was found guilty by a jury in federal court of conspiracy to violate the national banking laws The jury. given the case at 3:07 o'clock. reported Its findings at 3:47 o'clock 17 Counts in Charge Steigleder. Indicted on seventeen counts. was found guilty by the jury on eight of them. The jury made no recommendation as to sentence Steigleder is expected to be sentenced by Judge F. E. Kennamer within short time. The conviction marked the second step in the cases growing out of the failure of the First National bank at Keifer and the attendant failure of the Seminole State bank. R. E. E. Steigleder. officer of the Seminole bank. pleaded guilty and was sentenced to twenty-five years in the penitentiary by state court. Steigleder was found guilty on the eight counts of conspiracy and misapplication of funds of the Seminole state bank and of the funds of the irst National bank of Kiefer. He was found not guilty of making false entries and of making false reports to the comptroller of the currency. involving nine counts of the Brother Was Sentenced He is liable to penalty on the conspiracy count of two years in the federal penitentiary and a $10.000 fine. On the other counts the maximum sentence is five years and