18233. Guaranty State Bank (Tishomingo, OK)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
October 16, 1926
Location
Tishomingo, Oklahoma (34.236, -96.679)

Metadata

Model
gpt-5-mini
Short Digest
39171a4e

Response Measures

Full suspension, Books examined

Other: State banking department ordered liquidation; stockholders unable to recapitalize.

Description

Multiple contemporaneous newspaper articles (Oct 19, 1926) report a run on the Guaranty State Bank on the preceding Saturday that exhausted cash reserves; the assistant state bank examiner ordered the bank closed by state banking department on Monday Oct 18, 1926 for liquidation. Causes cited as local conditions and low cotton prices/slow collections in some reports; no suggestion of a false/misinformation trigger. Several articles use variant spellings (Guaranty/Guarantee) — corrected to 'Guaranty' as most frequent.

Events (3)
1. October 16, 1926 Run
Cause
Local Shock
Cause Details
Run began Saturday attributed to local conditions — reports mention low cotton prices and slow collections reducing cash availability
Measures
None reported by bank prior to closure; state examiner summoned to investigate and assess condition
Newspaper Excerpt
A run on the bank beginning early Saturday and continuing throughout the day was the cause for its failure to open for business Monday
Source
newspapers
2. October 18, 1926 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Ordered closed by state examiner due to lack of legal cash reserve after the run and inability of stockholders to supply funds to replenish reserve; bank closed for liquidation by state department
Newspaper Excerpt
Guaranty Bank of Tishomingo ... today ordered closed by Waldo Watkins, assistant bank examiner. In a telegram ... Watkins assigned lack of cash reserve and inability of stockholders to pay in the amount necessary to replenish the reserve as the reason for the closing.
Source
newspapers
3. * Other
Newspaper Excerpt
Reports of the institution filed with the state department show ... loans $74,000; total assets about $119,000 and depositors liabilities about $87,000. Soundness of the loans is the point which depositors must depend on, according to Mothersead, state bank commissioner.
Source
newspapers

Newspaper Articles (11)
1. October 19, 1926 The Ardmore Daily Press Ardmore, OK
Article from The Ardmore Daily Press, October 19, 1926

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Article Text

Santa Fe Officials Begin Operation Ringling Road Tishomingo Guaranty Bank Forced to Close Doors Monday CRIMINAL TERM CF COUNTY COURT PASSED OVER Judge Hardy Continues Entire Docket Until First Monday in December. The criminal docket set for trial in the ecunty court beginning Monday has been passed over until morning the first Monday in December. There are 119 criminal cases on the docket and jury had been summoned. All the state's witnesses had Judge Hardy found that of the jurors and a large number the witnesses were farmers and taking into consideration the appeals of these and realizing how the recent rains have delayed all farm work and the great necessity of saving the cotton crop, decided to let the criminal trial docket go over. There will be no trin] of civil jury cases until the date mentioned. if not all, of the defendants the criminal cases are at liberty bonds. The farmers appeared very grate when they learned they were not "Run" Saturday Disastrous to Institution: Waldo Watkins, State Bank Examiner, in Charge of Bank, Will File Report on Its Condition Sometime This Week. OKLAHOMA CITY, Oct. 18.Guaranty Bank of Tishomingo with capital stock of $15,000 and deposits of nearly $100,000 today ordered closed by Waldo Watkins, assistant bank examiner. In a telegram to O. B. Mothersead, of the bank department, Watkins assigned lack of cash reserve and inablity of stockholders to pay in the amount necessary to replenish the reserve as the reason for the closing. The official was summoned following "run" on the bank Saturday due, it was said, to local conditions. The Guaranty State bank of Tishomingo failed to open its doors for business Monday morning. Waldo Watkins, assistant to the state bank examiner. arrived in Tishomingo early Monday and began an investigation into the affairs of the closed institution. Report Thursday He had no statement to make last night further than to state that his liquidating report would probably be filed with his department in Oklahoma City Thursday. Total assets of the bank are shown on the books as $119,000 and depositors liabilities at $87,000. "Run" Saturday. A "run" on the bank beginning early Saturday and continuing throughout the day was the cause for its failure to open for business Monday, Watkins said. What caused the panic and the demand for money on Saturday has not been ascertained. One other bank remains in operation in Tishomingo-the First National bank. No trouble was anticipated for that institution and its business proceeded undisturbed yesterday. Officers Cooperate What the future has in store for the closed bank was not known last night. Mr. Watkins stated that (Continued on Page Five.)

2. October 19, 1926 The Oklahoma Daily Norman, OK
Article from The Oklahoma Daily, October 19, 1926

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Article Text

Bait Stenographer Claims She Tricked "Kidnapped Evangelist"; A.P. News Dispatches HALL OF JUSTICE, LOS ANGELES, Oct. maze of alleged plots and counter plots, assertions, rumors and contradictions thickened today as Judge Samuel R. Blake, opened his fourth week of the preliminary hearing for Aimee Semple McPherson, evangelist, and others on charges of conspiracy to defeat justice. Bernice Morris again too the stand. She was stenographer and confidant of the late McKinley, blind of Long Beach, who before attorney he was killed when his automobile turned over on him recently, had announced he was acting as go-between for the two men and woman Mrs. McPherson has declared kidnapped and held her for ransom last June. Discussing incidents of her alleged kidnapping with Mrs. McPherson, Miss Morris said she asked if the Angelus temple leader recalled "crick" in the neck while she was held by her abductors, and having her woman jailnamed "Rose," rub for her. Miss Morris testified hat McPherson said that she did remember such an incident and then the witness explained that the crick in the neck of her own invention, tried on Mrs. McPherson to see if she would "take in her search for proof of the kidnapping story. TISHOMINGO BANK IS CLOSED MONDAY OKLAHOMA CITY, Oct. Guarantee Bank of Tishomingo, with capital stock of $15,000 and deposits of nearly $100,000 today ordered closed by Waldo Watkins, bank examiner. In to Mothersead, telegram the bank Watkins department, signed lack of cash reserve, and inability of stockholders to pay in the amount necessary replinish the_ reserve, as the reason for the closing. The official was summoned following run on the bank Saturday, due, said, to local conditions. was QUEEN MARIE SEEING NEW WORLD SIGHTS WASHINGTON Oct. Marie Queen of Roumania, at the close of day crowded with incidents welcome, and new sights described "exciting" and "touchthe queen as was housed tonight in the Rumanian legation which became by tue of the presence the royal palace of distant Balkan kingdom. The queen's first glimpse of the capof the new world she entered upon today came as she stood on the of Secretary of State Kellogg under the arcades of Union station. The lighted dome of the capitol drew an exclamation of surprise and delight from her. Marines lined her way from her special train. Contrary to past custom, the president did not receive the queen tonight. the official call For personal of the queen at the executive mansion set for tomorrow afternoon stead of tonight. Tonight the queen entertained informally dinner at the legation. COTTON MARKETERS START SOLUTION OF PROBLEM Oct. -Southern cotton marketers today laid their problem of handling this year's record crop before the committee appointed by President Coolidge aid in the emergency. A committee representing the American Cotton Growers exchange explaintheir situation to the executive board declaring that the problem was two fold. first marketing of this year's crop, and second cutting of acre(Continued Page

3. October 19, 1926 Okmulgee Daily Times Okmulgee, OK
Article from Okmulgee Daily Times, October 19, 1926

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Article Text

TISHOMINGO BANK IS ORDERED OUT Guarantee State Must Close corning To Assistant State Examiner OKLAHOMA CITY Oct 18 The Guarantee State bank of Tishomingo, Okla., with capital stock of deposits was ordered closed by Waldo Watkins, assistant bank examiner In telegram to O. B Motherof the state department. Watassigned lack of cash and inability of stockholders to pay in the amount necessary to replenish the reserve as the reason for closing The official was summoned fol. lowing run on the bank Saturday due " was said to local conditions. Reports of the Institution filed with the state department show that loans $74,000. Clyde Faught is president: K BarD. Cheadle cashier Soundness of loans is the point which depend Mothersead said adding that Watkins investigating notes and paper by the bank.

4. October 19, 1926 The Lawton Constitution Lawton, OK
Article from The Lawton Constitution, October 19, 1926

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Article Text

TISHOMINGO BANK CLOSES ITS DOORS OKLAHOMA CITY, Oct. Lack of cash reserve, and inability of the stockholders to pay in the amount of money necessary make up the amount caused Waldo Watkins, assistant bank commis sioner, to issue closing order Monday for the Guaranty State Bank of Tishomingo, with capital stock of $15,000 and deposits of nearly $100,000. Local conditions brought about run on the bank Saturday and resulted in the banking department official being called. Soundness of the loans of the institution will the point on which the depositors must depend, according to Mothersead, state bank commis. sioner. attending the County Teachers meeting.

5. October 19, 1926 The Daily Oklahoman Oklahoma City, OK
Article from The Daily Oklahoman, October 19, 1926

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Article Text

BANK TO CLOSE AT TISHOMINGO Lack Of Cash Reserve Cause Of Action By State To Halt Business. The Guaranty State bank of Tish. emingo, with a capital stock of $15. 000 and deposits of nearly $100,000. was ordered closed Monday by Waldo Watkins. assistant bank com. missioner, following an investigation. Lack of cash reserve, and inability of the stockholders to pay in the amount of money necessary to make up the amount. was the reason assigned by Watkins in a telegram to his chief, @. B. Mothersead, at the state department. A run on the bank Saturday which took down Its cash brought ditions. caused the summoning of the banking department official. Reports of the Institution. filed with the state department on September 28. showed that deposits were $98 and loans amounted to $74.K. Barringer vice president and Martin D Cheadle cashier. Soundness of the loans of the in. stitution will be the point on which the must depend. accord. Ing to Mothersead who said that Watkins was Investigating the notes and other paper held by the bank. and would make a. report immediately upon his return. When the run started Saturday the legal cash reserve was so diminished that operation was impossible unless the stockholders put. the money in. This they were unable to do, and the bank was closed for liquidation. Telephone, telegraph and radio systems of Russia are to be consolidated one government

6. October 19, 1926 Tulsa World Tulsa, OK
Article from Tulsa World, October 19, 1926

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Article Text

TISHOMINGO BANK CLOSES ITS DOORS Failure Follows Run Made Saturday; Cash Reserve Reported Low OKLAHOMA Guarantee State bank of Tishomingo, with capital stock of $15,000 and deposits today was ordered closed by Waldo Watkins, assistant bank examiner. In telegram to O. B. Mothersead of the state Watkins assigned lack of cash reserve and Inability of stockholders to pay in the amount necessary to replenish the reserve the reason for closing The official was summoned fol. lowing run on the bank Saturday, due, It is said, to local conditions Reports of the Institution filed with the show that loans were $74,000. Clyde Faught and Martin D. Cheadle, cashier. Soundness of loans is the point on which depositors must Mothersead said. adding that Watkins was Investigating notes and other paper held by the bank.

7. October 21, 1926 The Madill Record Madill, OK
Article from The Madill Record, October 21, 1926

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STATE CLOSES DOORS OF BANK TISHOMINGO Guaranty State bank of Tishowith capital stock of $15,000, deposits of nearly $100,000, was ordered closed Monday Waldo Watassistant bank commissioner. following investigation. Lack cash reserve, and inability of the stockholders to pay in the amount money necesary make up the amount, was the assigned by Watkins telegram to his chief, Mothersend, at the state department. run on the bank Saturday which took down its cash reserve, brought about, said, by local conditions, caused the of the banking department official.

8. October 21, 1926 The Ardmore Statesman and Weekly Ardmoreite Ardmore, OK
Article from The Ardmore Statesman and Weekly Ardmoreite, October 21, 1926

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TISHOMINGO BANK CLOSES ITS DOORS The Guaranty State Bank, of Tishomingo, a $15,000 institution, was obliged to close its doors on Monday, following a run on it the preceding Saturday. It is now in the hands of the state banking department. It is said to have assets amounting to $119,000 and depositors liabilities amounting to something like $87,000. It is not known what caused the run on the bank last Saturday, but its troubles are presumed to be due to the low price of cotton, and probable slow collections due thereto. Clyde Faught was the president, and Martin D. Cheadle the cashier. There has been no rumor of shortage, or dissipation of funds of the bank thus far developed, nor is any anticipated.

9. October 21, 1926 The Marietta Herald Marietta, OK
Article from The Marietta Herald, October 21, 1926

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STATE BANK AT TISHOMINGO CLOSED-CASH RESERVE LOW The Guaranty State Bank of Tihomingo, with a capital of $15,000 and depoits of nearly $100,000 was ordered closed Monday the assistant state bank commissioner. Lack of cash reserve and inability of the stockholders to Day in the amount of money necessary to make up the amount. was the reason assigned by the commissioner in a telegram to O. B. Mothersead. at the state banking department. A run on the bank Saturday which took down its cash reserve, brought about. it was said, by local conditions, caused the summoning of the banking department efficial. When the run sarted Saturday the legal cash reserve was so diminished that operation was impossible unless the tockholders put the money in This they were unable to do. and the bank was closed for liquidation.

10. October 22, 1926 Durant Weekly News and Bryan County Democrat Durant, OK
Article from Durant Weekly News and Bryan County Democrat, October 22, 1926

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Article Text

TISHOMINGO BANK ORDERED CLOSED The Guaranty State bank of Tishomingo, with a capital stock of $15 000 and deposits of nearly $100,000, was ordered closed Monday by Waldo Watkins, assistant bank commissioner, following an investigation. Lack of cash reserve, and inability of the stockholders to pay in the amount of money necessary to make up the amount, was the reason. A run on the bank Saturday which took down its cash reserve, brought about, it was said, by local conditions caused the summoning of the banking department official. Reports of the institution, filed with the state department on September 28, showed that deposits were $98,000 and loans amounted to $74,000. Clyde Faught is president, C. K. Barringer vice president and Martin D. Cheadle cashier.

11. October 23, 1926 Saturday Morning Advertiser Durant, OK
Article from Saturday Morning Advertiser, October 23, 1926

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Article Text

BANK ORDERED CLOSED The Guaranty State bank of Tishomingo, with capital stock of and nearly closed Monday by Waldo bank commissionfollowing an investigation. Lack of cash reserve, and inability of the stockholders to the pay amount money necessary make the amount, was the reason. on the bank Saturday which took down its cash brought about, said, by local caused the of the bankdepartment official. Reports of the institution, filed the state on September showed that deposits loans amounted to Clyde Faught president, Barringer president and Martin Cheadle cashier.