18220. Bank of Commerce (Sulphur, OK)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
February 23, 1922
Location
Sulphur, Oklahoma (34.508, -96.968)

Metadata

Model
gpt-5-mini
Short Digest
f1c4f521

Response Measures

Full suspension, Books examined

Other: President faced embezzlement charge and committed suicide; bank closed and examiners investigating.

Description

Articles report that the Bank of Commerce failed to open on Feb 23 after 'pernicious street rumors' caused heavy withdrawals (a run). Subsequently the bank remained closed, its president Charles A. Bryan faced embezzlement charges and committed suicide, examiners and state officials investigated, and later pieces refer to the 'defunct Bank of Commerce' — consistent with suspension leading to permanent closure. No reopening is mentioned.

Events (3)
1. February 23, 1922 Run
Cause
Rumor Or Misinformation
Cause Details
Pernicious street rumors prompted depositors to withdraw accounts, causing the bank to fail to open on Feb 23.
Measures
Bank did not open; books were held pending arrival of examiners to pass on them.
Newspaper Excerpt
it was announced that the bank failed to open on February 23 because of pernicious street rumors that had caused depositors to withdraw their accounts.
Source
newspapers
2. March 1, 1922 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Alleged discrepancies in the bank's books related to bond transactions and impending embezzlement charges against the president (Charles A. Bryan), who later died by suicide; prompted investigators and closure/suspension of the bank.
Newspaper Excerpt
closing of the Bank of Commerce following suicide of Charles Bryan ... it was announced that the bank failed to open on February 23 ... the books were being held pending arrival of examiners to pass on them.
Source
newspapers
3. March 15, 1922 Other
Newspaper Excerpt
Officials and examiners in charge of the defunct Bank of Commerce ... have turned their attention to the affairs of the bank and plans for adjustment.
Source
newspapers

Newspaper Articles (4)
1. March 1, 1922 The Daily Ardmoreite Ardmore, OK
Article from The Daily Ardmoreite, March 1, 1922

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Article Text

BANK EXAMINER MAY PROBE INTO SULPHUR AFFAIR Others Implicated in Closing of Bank of Commerce Following Suicide of Charles Bryan DISCREPANCIES OF BOOKS ARE ALLEGED Dead Man Faced Embezzlement Charges in Regard to Bond Transaction (Special to The Ardmoreite) SULPHUR, Okla.-That other parties will be implicated in the closing of the Bank of Commerce was intimated by officials of that institution Wednesday morning, following the finding of the dead body of Charles Bryan, president of the bank, in a barn at his home Tuesday afternoon. A coroner's jury returned a verdict of death from gunshot wound, selfinflicted. Bryan died at a hospital a short time after he was found. He was unable to make a statement, but it is generally believed that he could not bear the face of the criticism that has been directed at him and other officials of the bank. Hints of Discrepancies. It is also intimated in various sources that when the books are audited that discrepancies, resulting from handling of city bonds, will be found, since this bank was holding the majority of the bonds recently voted for civic improvement. Several oil companies carried large accounts at the bank, and it is said that one company has had to shut down pending settlement of affairs of the bank. Early this week it was announced that the bank failed to open on February 23 because of "pernicious street rumors" that had caused depositors to n withdraw their accounts. It was said then that the books were being held it pending arrival of examiners to pass on them. Bryan Faced Arrest. According to Chief of Police Charles Vernon, Bryan's body was found by Sheriff Henry Parks, who had ad11 vised Bryan that he held a warrant ir for his arrest charging embezzlement. Bryan is said to have told the sheriff he would surrender to him after the 8 noon hour. but when he failed to keep e his appointment the sheriff started to investigate. o When the sheriff found Bryan's body in the barn in the rear of his is home there was a bullet hole in the h head over the right eye. A revolver 1. was lying nearby. 8 It is understood that the state bank : examiner will be asked to conduct a 8. thorough investigation into affairs of h the institution. S

2. March 8, 1922 The Daily Ardmoreite Ardmore, OK
Article from The Daily Ardmoreite, March 8, 1922

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Article Text

CITY NOT UNDER ARMS, IS CLAIM (Special to The Ardmoreite) SULPHUR, Okla.-Denial is made that the city of Sulphur is under arms and that factions known as "the overall crowd" and "the white collar crowd" exist and are rearing at each other's throat. On the other hand, it is admitted that several persons have received threatening letters, but it is believed that such is the work of cranks who seized upon the moment of unrest following the suspension of the Bank of Commerce and the death of Charles A. Bryan, its president. It is the general feeling that things will adjust themselves and that the bank will be reorganized within a short while.

3. March 13, 1922 The Daily Ardmoreite Ardmore, OK
Article from The Daily Ardmoreite, March 13, 1922

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Article Text

STATE OFFICIALS ASKED TO PROBE SULPHUR AFFAIR "Pat" Riley Goes to Oklahoma City With Letter Requesting Airing of Creumstances CITIZENS COMMITTEE WANTS MAYOR OUSTED Rumors Break Down Confidence in Conduct of Elected Officers, Letter Says (Special to The Ardmoreite) OKLAHOMA CITY.-Elmer L. Fulton, assistant attorney general, today was instructed by Attorney General George F. Short to proceed to Sulphur and start an investigation of conditions there relative to the conduct of city officials. A committee of citizens of Sulphur, headed by John T. Young, called upon Mr. Short today with a request that Mayor W. H. Riley of Sulphur be ousted from office. SULPHUR, Okla.-A thorough investigation into the affairs of the city and the defunct Bank of Commerce is asked in a letter carried to Oklahoma City today by Mayor W. H. (Pat) Riley, who will call on ,Attorney General Short and lay before him the situation as he sees it. At a meeting of citizens Sunday a committee was appointed to go to Oklahoma City and demand that the at. torney general start ouster proceedings against. Mayor Riley. It was also vot. ed at the meeting to continue making demands for a grand jury investigation. Just when the citizens' committee will go to the capital has not been learned. Letter as Evidence. The letter which Mayor Riley carries to Oklahoma City today is signed by that official and is taken primarily as documentary evidence. Following is the contents as given exclusively to the Ardmore Ardmoreite correspond ent: "Owing to the growing unrest that has been caused in our city by the suspension of the Bank of Commerce, the death of Charles A. Bryan and expose of the conditions of the bank, I deem it an imperative necessity to request you to immediately make a fair investigation of conditions and af. (Continued on Page Two)

4. March 15, 1922 The Daily Ardmoreite Ardmore, OK
Article from The Daily Ardmoreite, March 15, 1922

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Article Text

BANK EXAMINERS CONTINUE WORK (Special to The Ardmoreite) SULPHUR, Okla.-Officials and examiners in charge of the defunct Bank of Commerce, who were dropped from public view after the striking of the cyclone Monday, have come to life again and have turned their attention to the affairs of the bank and plans for adjustment. Assistant Attorney General Elmer L. Fulton. who has been assigned to this city to investigate affairs and conditions of the bank and municipality, had not arrived yet, but is expected daily.