18215. Security State Bank (Stilwell, OK)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
September 15, 1930
Location
Stilwell, Oklahoma (35.815, -94.629)

Metadata

Model
gpt-5-mini
Short Digest
2fe212e3

Response Measures

Full suspension, Books examined

Description

Newspaper accounts (Sept 16–19, 1930) report a heavy run (rumors) that led the bank to fail to open and the state bank examiner (C. B. Markham) to take charge and begin reorganization. Subsequent June 1931 item shows dividends mailed to depositors of the failed Security State Bank, Stilwell, indicating permanent failure/receivership. No reopening is reported.

Events (4)
1. September 15, 1930 Run
Cause
Rumor Or Misinformation
Cause Details
Local rumor circulated that the bank was about to close, prompting depositors to withdraw funds.
Measures
Directors called the state bank examiner; cash in the sum of $12,000 was brought from Fort Smith to reinforce the bank's assets.
Newspaper Excerpt
failed to open its door this morning following heavy run on the institution yesterday.
Source
newspapers
2. September 16, 1930 Receivership
Newspaper Excerpt
Security State Bank Stilwell failed to open its door ... Markham, state bank examiner, who took charge, said reorganization was under way.
Source
newspapers
3. September 16, 1930 Suspension
Cause
Government Action
Cause Details
State bank examiner took charge after the bank failed to open following the run; audit and reorganization initiated.
Newspaper Excerpt
Markham, state bank examiner, took charge. reorganization was under way.
Source
newspapers
4. June 22, 1931 Other
Newspaper Excerpt
Depositors of the Security State bank, Stilwell, will receive a third dividend ... bringing total paid to 75 per cent.
Source
newspapers

Newspaper Articles (7)
1. September 16, 1930 Corsicana Daily Sun Corsicana, TX
Article from Corsicana Daily Sun, September 16, 1930

Click image to open full size in new tab

Article Text

Four Persons Burn Death In Virginia Home WARRENTON. Va., Sept. persons were burned and fifth critically burned fire which destroved the house of Mrs. Wells Casanova, near here today. The dead were George, Francis to and Stuart Wells. children Mrs. Wells and Miss Mary of West River, Md. Mrs. Wells in hospital serious condition. fire was started from an oil stove. BANK CLOSES. Okla., Sept. Security State Bank Stilwell failed to open its door todav heavy vesterdav Markham, state bank examiner, took charge. reorganization was under way.

2. September 16, 1930 The Chickasha Daily Express Chickasha, OK
Article from The Chickasha Daily Express, September 16, 1930

Click image to open full size in new tab

Article Text

Bank at Stilwell Fails Open Today Stilwell, Okla., Sept. 16. Security State Bank Stilwell failed open its door this morning following heavy run on the institution yesterday. Markham, state bank examiner, who took charge, said reorganization under way. Cash $12,000 brought the bank from Fort Smith, reinforce the bank's assets. Charles Hughes president and Carlson, cashier. PETITION IS DENIED Oklahoma City, Sept. The state supreme court today nied petition for rehearing the the Telephone company the Southwestern Bell Telephone company. involved the right concern from Poteau Fort Smith, Ark., under certain

3. September 16, 1930 Bartlesville Examiner-Enterprise Bartlesville, OK
Article from Bartlesville Examiner-Enterprise, September 16, 1930

Click image to open full size in new tab

Article Text

Security State Bank Failed To Open This Morning Following Run Yesterday the Associated Press. STILWELL, Okla., Sept. Security State bank of Stilwell failed to open its doors this morning following heavy run the institution yesterday. Markham, state bank examiner who took charge, said reorganization was under way. Cash in the sum of $12,000 was brought to the bank from Fort Smith, Ark., to reinforce the bank's assets. Charles Hughes is president and Carlson, cashier.

4. September 17, 1930 Tulsa World Tulsa, OK
Article from Tulsa World, September 17, 1930

Click image to open full size in new tab

Article Text

STILWELL BANK FAILS Security State Bank Closed by the State Examiner. Sept. The bank failed to open its door this morning heavy terday D. bank examiner, said was Cash in the of $12,000 brought the bank from Smith, reinforce the bank's assets. Charles Hughes president and Carlson. cashier.

5. September 19, 1930 The Standard-Sentinel Stilwell, OK
Article from The Standard-Sentinel, September 19, 1930

Click image to open full size in new tab

Article Text

SECURITY STATE BANK IS CLOSED Monday morning rumor went town that the Security State bank was about to close its doors and though the bank officials and all the headed citiznes tried to stop the alarm there was constant drainage of monbeing taken out of the bank all day. No excitement was noticed and no larger crowd than usual was noticed in or around the bank all day. No was talking openly yet it seemed everyone heard the rumor and one after another withdrew their money. Monday night the directors held meeting and decided in the face the small run on the bank to call the state bank examiner here. C. B. Markham, deputy commissioner, came here at once and charge. An audit being made and most if not all of our people hope and believe that the funds will be found all right and the bank reopened in few days. An effort being made by the stockholders to reorganize and put the bank back on its feet and almost believes this can and will be done once. There has been no excitement or demonstration of any kind and apparently very little fear or worry about the result of the examination made. Most popie believeing the depositors will be paid full. Of course ed but people are accepting the uation without openly blaming anyone or either the officers of the bank or any individual

6. September 19, 1930 Adair County Democrat Stilwell, OK
Article from Adair County Democrat, September 19, 1930

Click image to open full size in new tab

Article Text

SECURITY STATE BANK IS CLOSED Monday morning rumor went town that the Security State bank about close its doors and the bank officials and all the cool headed citiznes tried to stop the alarm there constant drainage being taken out of the bank all No was noticed and larger crowd than usual was noticed around the bank all day. No one was talking openly seemed everyone heard the rumor and after another withdrew their money. Monday night the directors held meeting and decided in the face the small run on the bank to call the state bank examiner here Markham, deputy commissioner, came here once and took charge. An audit being made and most not people hope and believe that funds will be found all right and the bank reopened in few days An effor being made by the stockholders to reorganize and put the bank back its feet and almost believes this can and will be done There has been no excitement demonstration of any kind and apparently very little fear or worry about the result of the examination now ing made. Most pople believeing the depositors will be paid in full Of course everyone but people are accepting the untion without openly blaming anyone or condemning either the officers the bank or any individual

7. June 22, 1931 Muskogee Times-Democrat Muskogee, OK
Article from Muskogee Times-Democrat, June 22, 1931

Click image to open full size in new tab

Article Text

DIVIDEND CHECKS MAILED TO 3 BANK DEPOSITORS OKLAHOMA CITY. June Dividends were issued by the state banking department today to depositors of three failed state banks. sixth dividend of per cent. or $3171 was mailed depoisitors of the Keystone bank, Keystone, making total of 70 per cent thus far paid. second dividend of per cent or $14,149 went to depositors of the Farmers State bank, Marshall, Fifteen per cent has been paid. Depositors the Security State bank. Stilwell, will receive a third dividend of per cent, or $11,679, bringing total paid to 75 per cent.