18200. National Bank of Commerce (Shawnee, OK)

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 9998
Charter Number: 9998
Start Date: April 1, 1924*
Location: Shawnee, Oklahoma (35.327, -96.925)

Metadata

Model: gpt-5-mini
Short Digest: 7114b13c

Response Measures

None

Description

The bank closed (failed) in April 1924 and a receiver was appointed; later receivers' reports and dividend distributions are reported. Multiple articles discuss subsequent litigation and criminal trials of bank officers (the Caldwells) for false reports and banking law violations. There is no explicit description of a depositor run in the articles provided.

Events (6)

1. April 22, 1911 Chartered

Source: historical_nic

2. August 18, 1923 Voluntary Liquidation

Source: historical_nic

3. April 1, 1924* Receivership

Newspaper Excerpt: Receiver of National Bank of Commerce ... closed in April, 1924 ... in the hands of the receiver, L. M. Vance / J. M. Banks is receiver for the failed bank / receiver makes report for quarter Sept. 30 ... cash on hand $40,668.69 (articles report receiver's quarterly and annual reports).
Source: newspapers

4. April 1, 1924* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank failed and closed after irregularities and alleged false reports to the Comptroller; officials (Caldwells) later indicted and tried for violations of banking laws and false reports about the bank's condition.
Newspaper Excerpt: closed its doors in April, 1924
Source: newspapers

5. March 14, 1926 Other

Newspaper Excerpt: BANK RECEIVER LOSES LAWSUIT ... J. M. Banks is receiver for the failed bank. Efforts ... to collect ... failed in two instances Saturday afternoon. The court instructed the jury ... verdict in favor of the defendant. (lawsuit over collection of notes).
Source: newspapers

6. March 1, 1929 Other

Newspaper Excerpt: Depositors of the defunct National Bank of Commerce in Shawnee ... received their final dividend check for 8 per cent recently.
Source: newspapers

Newspaper Articles (8)

1. March 14, 1926 The Daily Oklahoman Oklahoma City, OK

Article from The Daily Oklahoman, March 14, 1926

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BANK RECEIVER LOSES LAWSUIT Defunct Institution Fails To Collect on Notes; Case Not Over. Efforts on the part of the receiver of the falled National Bank of Commerce In Shawnee to collect from alleged stockholders and notes held by the bank In five suits in the federal court failed in two Instances Saturday afternoon. The court Instructed the jury In two cases to bring in a verdict in favor of the defendant. The Farmers' State bank of Asher was released from all claim by the first verdiet. and W. L. Chapman, Shawnee attorney, in the second case. J. M. Banks is receiver for the failed bank. In the Chapman case, the defense was that the note signed by Chapman was signed for "accommodation only,' and that he didn't get one dime from the note. According to testimony introduced, Chapman signed the note for $5,000 when Jesse M. Caldwell. now under Indictment for alleged violation of the national

2. May 30, 1926 Blackwell Journal-Tribune Blackwell, OK

Article from Blackwell Journal-Tribune, May 30, 1926

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CALDWELL CASE IS IN HANDS OF JURY SWEETZER ANNEXES BRITISH GOLF TITLE Jurors Disagree: Returns First Native Born Amerto Hear Reaching of ican to Achieve Testimony Crown May Caldwell bank case jury late turday night reported Federal Judge John H. Cotteral was hopless but after hearing mass of read by the court reporter, Simpagreed return to the jury room for further deliberation. Because of the heat and illness one juror, Judge Cotteral had offered the jury privilege separating until Monday morning. May court convened at Saturday testimony in the case Jess Caldwell Caldwell, of the National Bank of Commerce, Shawnee. was resumed. Three witnesses were called to testify. The first, worked the bank Ferguson, approximately years in of public and secretary notary Jess M. Caldwell. She testified that Jess Caldwell at the bank intervals was between June 23, 1923 and July 1923. that witnessed the signaJess M. Caldwell to the ture $120,000 note witness was Miss Ruby The Breece, Jess Caldwell She testified that handled Mr. Caldwell's ence, took dictation from him between June 23, 1923 and July the bank. She testified 1923, at went to Caldalso that never well's home take dictation any alleged by Caldwell's testimony that confined to his home he was ankle. Mrs. Gladys B. Forstick, assistbank receiver, was called to the witness next. She testified stand that was her vacation June June 1923, but that she 15 to remembered clearly of having conversed Jess M. Caldwell July the The substance the was jesting of Mrs. Forstick about her contemJuly and for plated marriage this reason stated she clearly having seen Jess Caldwell July Evidence was completed 10 and Roy St. Lewis began imto present his arguments for the government to the St. re-read the indictment charging that on or about July 1923, false report was made the comptroller currency the condition of National Bank of Commerce, Shawnee. May British amateur golf title was carried today for the first time by born AmeriJess Sweetser of New Only once years ago, have America's for the British crown been successful, Walter Travis, tive of Australia, having won the title 1904. Sweetser, star in his intercollegiate days at Yale and later American amateur champion, complished the feat on the historic Muirfield course this afternoon defeating Frederick Simpson, civil engineer, golfer too new tests bear under the gruelling 36 hole test the final round. The score and five to play. The triumph of American last hope the visiting Cup after the unexpected of Bobbby Jones yesterday. he had was Simpson's by the time the eighteeen morning round was Four down the start of the afternoon, Simpson finally cracked at the ninth, and Sweetser forward to clinch his tripressed umph the thirteenth green There enthusiasm when Sweetser won on the thirteenth. Crowds rushed to congratulate for good golfer golfer with these Scotch good was hoisted crowds. the shoulders of spectators at winning and carried the green the club house quarter mile lane of cheering link through devotees.

3. May 30, 1926 The Enid Morning News Enid, OK

Article from The Enid Morning News, May 30, 1926

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SHAWNEE MEN ON TRIAL FOR BANKING FRAUD Caldwell Brothers, Officials of Failed Bank Of That City Federal court re-convened here Satunday and testimony in the case of Jeca Caldwell and R. 8. Caldwell of the National Bank of Commerce of Shawnee was resumed. Three government witnesses were called to testify. The first, Miss Ferguson, who worked at the bank approximately five years in the capacity of notary public and secretary to Jess M. Caldwell She testified that Jess M. Cald was at the bank at intervals between June 23. 1923. and July 1, 1923: that she witnessed the signa ture of Jess M. Caldwell to the note The next witness was Miss Ruby Breece. stenegrapher to Jess M. Caldwell She testified that she handle Mr. Caldwell's correspond ence. took dictation from him be tween June 23, 1923, and July 1923. at the bank She testified also that went to Caldwell's home to take any dictation as alleged by Caldwell's testimony that he was confined to his home with sprained ankle. Saw Caldwell There Mrs. Gladys B. Forstick, assistant bank receiver, was called to the witness stand next. She testified that she was on her vacation. June 15. to June 30, 1923, but that she remembered clearly having con versed Jess M. Caldwell on July the bank. The substance of the conversation was jesting of Mrs. Forstiek about her contemplated marriage, July 27, and for this rea son she stated she clearly having seen Jess M. Cald well on July Evidence was completed at 10 m. and Roy St. Lewis began immediately to present his arguments for the government to the jury. St. Lewis re-read the indictment charging that on or about July 1923, false report was made to the comptroller of the currency nt Washington of the condition of the National Bank of Commerce, Shaw nee. Was Not Cashier. Caldwell in his testimony said that he was not cashier of the bank at the time of the alleged report. St. Lewis showed bank statements to the effect that Jess M. Caldwell signed the statements as cashier when sent to Washington. Lewis showed that stock sur rendered at the consolidation of the bank, October 1. 1924, to R. S. Cald well as liquidaing agent, was can celed. series of legal clashes ensued when Mark Goode, counsel for the defense, began his argument before the jury. He repeatedly scored Rex Peel, an official of the First Na. tional bank, Oklahoma City, for his testimony and referred to him as "King Pin Peel." Objection by Lewis The clashes were over objections made by Roy St. Lewis, government prosecutor who objected to the cit ing of other cases as examples by Goode The defense based its full argu ments on the grounds that unless an officer is stockholder of a nn. tional bank he cannot be an officer and cannot net in capacity as an of licial under the rules of national bank laws. It showed some doeu ments where L. J. Larsen signed himself as cashier, contending that Larsen was the cashier and not Jess M. Caldwell. It also attempted to prove the bank was not federal re A rebuttal by the government asted until m. Judge Cotteral read his instructions to the jury and turned the case over to it at

4. May 30, 1926 The M'Alester News-Capital McAlester, OK

Article from The M'Alester News-Capital, May 30, 1926

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CALDWELL JURY MAKING SECOND TRY AT VERDICT Part of Testimony Is Read by Court Reporter in Last-Minute Effort Reach an Agreement. DATE OF SIGNING PAPERS IN DISPUTE Girl Employees in Bank at Shawnee Testify That Accused Banker Was at His Desk as Charged. GUTHRIE. Caldwell bank case jury late Saturnight reports to Federal Judge John H. Cotteral hopeless disagreement, but after hearing of testimony read by the court agreed to return to the jury for furdeliberation. Because of the heat and illness one juror, Judge Cotteral had offered the jury the privilige of sepa until Monday morning. Testimony Completed. convened m., Saturday testimony the case of Jess Caldwell and Caldwell. of the National Bank of Commerce of Shawwas resumed. Three government witnesses were called to testify. The Miss who worked the bank proximately five years in capacity netary public and secretary to Jess Employees Met Him. She testified that Jess Caldwell the bank at intervals between 1923, and July 1923; that witnessed the signature of Jess Caldwell $120,000 note. The next witness was Miss Ruby Breece, Jess CaldShe testified that she handled correspondence, took lictation from him between June 923. and July 1923. at the bank. testified that she Caldwell's home to any dietaby Caldwell's testithat he confined to his home sprained ankle. Marriage Recalls Date. Mrs. Gladys B. Forston, assistant receiver, was called to the stand next. She testified that vacation June 15 30. 1923, but that she remem clearly of having conversed with Caldwell on July the at The substance of the conversawas jesting of Mrs. Foreston bout her contemplated marriage July for this reason she stated she remembered clearly of having seen M. Caldwell on July Evidence was completed Roy St. Lewis began immediately present his arguments for the to the jury. Lewis re-read the indictment harging that on about 1923, false report was made to the comproller of at of the National Bank of Commerce, Date Important. Caldwell in his said that not cashier of the bank at the of the alleged St. Lewis report. bank statements to the effect Jess Caldwell signed the tatements as cashier when sent Washington. Lewis showed that stock surrenderthe consolidation of the bank. Detober 1914, to R. S. Caldwell iquidating agent was cancelled. showed that an extension of the membership of the bank as federal member had been made of the harter and that the bank federal member at the the report was made to the omptroller series of legal clashes ensued Mark Goode, counsel for the began his argument before He scored Rex Peel, official the National Bank, Oklahoma City, for his referred to him as "King Ben Peel. Examples Bring Opposition. The clashes were over objections by Roy St. Lewis, government prosecutor, who objected to the citing other cases examples by Goode. The defense based its full arguon the grounds that unless stockholder national he cannot be an officer canin capacity official under an rules of bank laws. national howed some documents where signed himself as cashier, conthat Larson was the cashier Jess also empted to prove the bank was not bank member. rebuttal by the lastuntil Judge Cotteral his instructions to the jury over to at GERMAN LEADER DIES Von German interim governorof Belgium during is dead at the age Governor the 7th reserve corps and ppointed military governor of had captured. the

5. May 30, 1926 Tulsa World Tulsa, OK

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BANKERS CASE GOES TO JURY Shawnee Men Accused of Violations of Banking Laws THRIE, May 29 (A. P.)-Federal court convened at m. Saturday and testimony in the case of Jess be M. Caldwell and R. S. Caldwell of the National Bank of Commerce. Shawnee, was resumed. Three government witnesses were called to testify. The first, a Miss Ferguson, worked at the bank approximately five years in capacity of najary public and secretary to Jess M. She testified that Jess M. Caldwell was at the bank at intervals between June 13. 1922, and July 7. 1923, that she witnessed the signature of Jess M. Caldwell to the $120,000 note. Stenographer on Stand. The next witness was Miss Ruby Breece stenographer to Jess M Caldwell. She testified that she handled Mr. Caldwell's correspond nce, took dictation from him beJune 23. 1923, and July 7. 1923. at the bank. She testified also that she never went to Caldwell's home to take any dictation as alleged by Caldwell's testimony, although he was confined to his home with sprained ankle. Mrs. Gladys B. Forstick, assistant bank receiver. was called to the witness stand. She testified that she was on her vacation June 15 to June 30, 1923, but that she remembered clearly of having conversed with Jess M. Caldwell on July at the bank. The substance of the conversation was jesting of Mrs. Forstick about her contemplated marriage July 27. and for this reason she states she remembered clearly of having seen Jess M. Caldwell on July 7. Evidence was completed at 10 a m. and Roy Lewis began immediately to present his arguments for the government to the jury. Lewis re-read the indictment charging that on or about July 7. 1923. A false report was made to the comptroller of the currency at Washington of the condition of the National Bank of Commerce. Documents in Court. Caldwell, in his testimony, said that he was not cashier of the bank at the time of the alleged report. Lewis showed bank statements to the effect that Jess M. Caldwell signed the statements as cashier when sent to Washington Lewis showed that stock surrend ered at *the consolidation of the bank, October 1, 1914, to R. S. Caldwell as liquidating agent was can. celled. He also showed that an ex tension of the membership of the bank as a federal reserve member had been made of the charter in 1911. and that the bank was a fed eral reserve member at the time the report was made to the comptroller A. series of legal clashes ensued when Mark Goode, counsel for the defense. began his argument before the jury. He repeatedly scored Rex Peel, an official of the First National bank, Oklahoma City, for his testimony and referred to him as "King Pen Peel. The clashes were over objections made by Roy Lewis government prosecutor. who objected to the cit. ing of other cases as examples by Goode The defense based its full arguments on the grounds that unless an officer is a stockholder of a national bank he cannot be an officer and cannot act in capacity of an official under the rules of national laws. It showed some documents where L. J. Larson signed himself as cashier. contending that Larson was the eashter and not Jess M. Caldwell It also attempted to prove the bank was not a federal reserve bank mem-

6. October 5, 1926 Shawnee News-Star Shawnee, OK

Article from Shawnee News-Star, October 5, 1926

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BANK'S RECEIVER MAKES REPORT FOR QUARTER No More Dividends Paid Depositors but $40,668 in Cash on Hand. The following report of the of the National Bank of affairs Commerce in Shawnee, its doors in is made for the quarter September 30, ending Vance, receiver. With total liabilities of $728,528.19 the depositors been paid dividends to and the amounting receiver cash on hand amounting to $40,668.69. no dividends having been paid during the last quarter. The itemized report of the ceiver is as follows: Assets Bills receivable Cash on hand Assets other than bills receivable and cash hand 471,162.10 Additional assets acquired 87,120.62 Stock assessment 100,000.00 Total of all assets coming into hands receiver Remaining Assets Uncollected Contributes to Red Cross Bills receivable contribution of was bills Assets other than ceived at Red Cross headquarters receivable 58,576.18 for Florida relief from the stuAdditional assets acdents of the Shawnee Commercial quired college. Stock assessment Total assets uncollected 551,240.00 Liabilities Total claims proven unsecured liabilities Total unproven unsecured claims 17,400.98 Total secured liabilities outstanding unpaid None Total rediscounts unpaid None Total additional liabilities 10,805.42 proven Total of all Young Prague Matron Dies Annie Harris, wife of Harris who lives near Prague, died at the Shawnee hospita Sunday afternoon about o'clock Funeral services held yesterday afternoon with burial at the Meeker cemetery

7. January 4, 1928 Shawnee News-Star Shawnee, OK

Article from Shawnee News-Star, January 4, 1928

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MAY BE PAID BY FAILED CITY BANK Receiver Of National Bank Of Commerce Makes Report For Year Ending Dec. 31 Depositors and claimants in the of wrecked National Bank of case the Commerce in Shawnee. which closed in April, 1924, one month its doors and down after the the deposits of insurance with storm will money from many to learn that sufficient be interested money has in the hands of the receiver, L. M. Vance. to indicate that dividend may be forthcoming an early According to report up to January the now has cash to 10. No hand dividends have been paid for several months past but early dividends made by the collections amounted to The total uncollected assets this time of to while the total of all proven foots up closed its doors after This bank being in condition for and foltowing its of the Caldwell State bank. The officers were with acts and several trials in federal have taken and others on counts are still pending. Estill the president. pleaded guilty to number of counts but not passed pending the trial of Jess Caldwell, (who was on counts, and Caldwell, whose case is finally to The report of the receiver in full follows: ASSETS Bills 657,635.50 Assets other than bills receivable and cash on hand Additional assets acquired assessment 100,000.00 Stock Total assets coming into the hands of receiver $1,400,001.58 Remaining Assets Uneollected: receivable 243,343.10 Bills Assets than bills receivable 33,245.74 Additional assets acquired assessment 92,500.00 Stock Total assets uncollected 427,936.88 LIABILITIES Total proven on unsecured liabilities Total unproven unsecured claims 15,478.20 Total secured liabilities outstanding unpaid None Total rediscounts unpaid None ties proven 8 10,808.96 Total additional liabiliTotal of all liabilities 728,291.94 Dividends paid during quarter None Dividends paid prior thereto 287,002.85 Total dividends paid to date 287,002.85 Cash on hand 44,201.10

8. March 1, 1929 The Oklahoma Banker Oklahoma City, OK

Article from The Oklahoma Banker, March 1, 1929

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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.