First National Bank (Oklahoma City, OK)

Episode Information

Episode Type
Run Only
Start Date
July 19, 1893
Location
Oklahoma City, Oklahoma (35.468, -97.516)
Bank Type
national
Charter Number
4402

Metadata

Response Measures

Accommodated withdrawals, Public signal of financial health

Events (3)

1. August 20, 1890 Chartered
Source
historical_nic
2. July 19, 1893 Run
Cause
Local Banks
Cause Details
Closing/failure of the Bank of Oklahoma City and the Oklahoma National Bank triggered heavy withdrawals on the First National.
Measures
Honored all checks and drafts, stayed open late to serve depositors.
Newspaper Excerpt
There was a heavy run on the First National, but it withstood it all right.
Source
newspapers
3. December 6, 1897 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (11)

Article from The Evening World, July 19, 1893

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Oklahoma Bank Troubles OKLAHOMA CITY, O. T., July 19.-The Bank of Oklahoma City and the Oklahoma National Bank closed their doors this after noon. There was a heavy run OD the First National but It withstood 10 all right. Statemen S are unobtainable 11 W.


Article from Deseret Evening News, July 19, 1893

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Two Oklahoma Banks. OKLAHOMA CITY, Ok.,July 19.-The bank of Oklahoma City and Okishoma National bank have failed. The First National stood a heavy run. Nostate. ments.


Article from Daily Kennebec Journal, July 20, 1893

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Two Oklahoma City Banks Fail. OKLOHAMA CITY, O. T., July 19.-The Bank of Oklahoma City and the Oklahoma National Bank closed their doors this afternoon. There was a heavy run on the First National, but it withstood it all right. Statements as yet are unobtainable.


Article from The Morning News, July 20, 1893

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Two Banks Closed at Oklahoma. Oklahoma City, July 19.-Tne Bank of Oklahoma City and the Oklahoma National Bank closed their doors this afternoon. There was a heavy run on the First National, but it withstood it all right. Statements are unobtainable now.


Article from The Providence News, July 20, 1893

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Oklahoma Banks Close. OKLAHOMA CITY, July 20.-The Bank of Oklahoma City and the Oklahoma National Bank closed their doors yesterday afternoon. There was a heavy run on the First National, but it withstood it all right.


Article from New-York Tribune, July 20, 1893

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BANKS CONTINUE TO CLOSE. Hutchinson. Kan., July 19.-Owing to financial stringency, making it impossible to secure currency sufficient to meet its demands, the Hutchinson National Bank did not open its doors this morning, but posted notice of suspension of payment. The assets are $251,000, and the liabilities $131,000. The bank was in good condition and under ordinary pressure would not have experienced any difficulty. It is the first bank failure in the history of the city. There is no doubt that depositors will be paid in full. Topeka, Kan., July 19.-Information has been received at the office of the State Bank Commissioner of the failure of the State Bank of Parker. Linn County, and of the Woodson State Bank of Yates Centre, Woodson County. Both are small concerns. Washington. July 19.-The Controller of the Cur rency is informed of the failure of the Bozeman Na. tional Bank. of Boreman, Montana. Denver, July 19.-The J. B. Wheeling Banking Company. pioneer bank of Aspen, Col.: Bank of Sterling, Sterling. Col., and the Bank of Loveland, Col., have assigned. So statements of assets or liabilities have been issued. Oklahoma City, O. T., July 19.-The Pank of Ok lahoma City and the Oklahoma National Bank closed their doors this afternoon. There With a heavy run on the First National, but 11 withstood it all right. Statements are unobtainable now. Loveland. Col., July 19-The following notice was posted on the door of the Bank of Loveland just before noon to-day : Owing to the closing of our Denver correspondents we have decided to close our doors temporarily. Our assets are largely in excess of our liabilities. Every depositor will be paid in full. G. L. SMITH. Cashier. The principal correspondent of this bank In Denver was the German National Greeley, Col. July 19. The Union Bank closed Its doors in 1 p. m. to-day. and a half-hour later the Greeley National Bank pulled down its blinds and turned the key in its door. The Union's statement says that owing to the suspension of certain Denver National banks, which had on deposit several thousand dollars of Its money. and the fact that there was a steady withdrawal of deposits, about $80,000 in the last ninety days, they were compelled to suspend business. They say their liabilities are about $100. 000. with assets and paid-up capital of $300,000. As soon as the fact of the suspension of these banks became known. a steady run was made on the First National bat It continued to honor all checks and drafts. and even after the regular closing hour cashed two checks presented.


Article from Waterbury Evening Democrat, July 20, 1893

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Two Oklahoma Banks Go Under. OKLAHOMA CITY, O. T., July 20.-The Bank of Oklahoma City and the Oklahoma National bank closed their doors. There was a heavy run on the First Na tional, but it withstood it all right.


Article from St. Paul Daily Globe, July 20, 1893

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Oklahoma Failure. OKLAHOMA CITY, O. T., July 19.The Bank of Oklahoma City, which closed its doors today, is only temporar ily embarrassedand will open tomorrow, giving certificates of deposit in lieu of cash, which the leading merchants of the city will accept as cash. The stockholders are all men of large personal responsibility, and depositors will be paid in full almost immediately. Their liabilities are $85,000; assets, $170,000. The bank wili resume fully within two or three weeks. The First National has. withstood a steady withdrawal for thirty days, culminating in a free run this afternoon. All checks were paid ' S fast as three tellers could count the money, and President Richardson announced to the crowd that they would keep open until midnight, adding that the crowd might hang him if any depositor lost a dollar.


Article from The Progressive Farmer, July 25, 1893

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by the present unsettled condition of trade. DENVER, Col, July 19 -The following notice was posted on the doors of the State National bank: "This bank will not be opened for business this morning. Depositors will be paid in full" Atthe hour for opening for banking business crowds had assembled at the different banks, but there did not appear to be the same excitement among the depositors as existed yesterday. DENVER, Col., July 19.-The doors of the German National bank were no; opened for business at 10 o'clock this morning. No notice was posted on the door but it is believed it has suspended payment. The excitement is rapidly increasing and runs are threatened on other banks. AMMONSDALE, Kansas, July 19.-The Citizens' bank suspended yesterday. MOBILE, Ala., July 19.-At 9 o'clock this morning, after an existence of seventy-two years, the Mobile Register made a general assignment to Jos. McPhillips for the benefit of all creditors. OKLAHOMA CITY, July 19.-The Bank of Oklahoma City and the Oklahoma National bank closed their doors this afternoon. There was a heavy run on the First National, but it withstood it all right. The statements are unobtainable now. NASHVILLE, Tenn, July 19 -Samuel Spencer, of New York, was to day ap pointed CO receiver of the East Tennes see, Virginia and Georgia Railroad and its controlled lines, with Messrs. Fink and McGhee, by Judge Lurton. The appointment takes effect August 1st and the bond was fixed at $100,000. DENVER, Col, July 19.-The J. B Whaling Banking Company, the pioneer bank of Ashen, Col.; the Bank of Sterling, Sterling, Col., and the Bank of Loveland, Col, have assigned. No statements of assets or liabilities have been issued. DENVER, Col., July 18.-The Union Nati nal bank, of which R. W. Wood bury is president, failed to open its doors this morning. Its capital is $1 000,000. No statement can be had. A run is now being made on the City National, German National, First National, Colorado National and all the eleven clearing house banks. A panic is on.


Article from The Austin Weekly Statesman, July 27, 1893

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dealers in gent's furnishing goods, failed this morning. Assets are placed at $35,000; liabilities, $13,000. PEOPLES' COAL COMPANY. DENVER, July 19. - The Peoples Coal company has made an assignment; assets and liabilities not large. TWO KANSAS BANKS. TOPEKA, July 19.-Information has been received at the office of the state bank commissioner of the failure of the State bank of Parker, Linn county, and of the Woodson State bank, Yates Center, Woodson county. Both are small concerns. BULDING MATERIAL DEALERS. CHICAGO, July, 19.-Dickinson Brothers & King, dealers in building material, went into the hands of a receiver today. The firm has property valued at $260,000 in excess of liabilities. The pressure of times has made business unprofitable. NEW YORK LACE IMPORTERS. NEW YORK, July 19.-A Cohn & Co., lace importers, assigned today. Liabilities $40,000: nominal assets $80,000. The carpet house of Hardenburg & Co., Brooklyn, assigned this morning. ANOTHER KANSAS BANK. HUTCHINSON. Kan., July 19.-The Hutchinson National bank this morning posted a notice of suspension of payment. Assets $261,000 ; liabilities $131,000. No doubt all depoitors will be paid in full. TWO OKLAHOMA BANKS. OKLAHOMA CITY, Ok., July 19.The Bank of Oklahoma City and the Oklahoma National bank closed their doors this afternoon. There was a heavy run on the First National, but it withstood it all right. LADIES


Article from Union County Courier, June 6, 1895

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SOUTHERN. BIRMINGHAM, Ala., special: Near Moulton, Lawrence County, Miss Jane Caldwell, the 17-year-old daughter of a wealthy planter, cut her throat with an old knife. She had an appointment to attend a dance with James Jennings. Jennings failed to come for her and she went to the dance with her brother, only to find Jennings there with another girl. When she upbraided him for his faithlessness Jennings laughed in her face. On returning home she retired to her room, heartbroken, and when found a short time afterward was dying with the bloody knife in her hand. PINEVILLE, Ky., special: A battle occurred on Straight Creek, fifteen miles from here, in which John Helton was killed and James Belcher and Charles Johnson was badly wounded. There were on the other side three men and a woman who could handle a rifle with the best of men. The Helton crowd was surrounded and fired upon from ambush. They returned the fire and think some of their enemies were wounded and carried to the mountains. The battle grew out of a series of lawsuits. CHARLESTON, W. Va., special: Burglars entered the bank at Anderson, Monroe County, blew open the safe and carried off $5,000-practically all it contained, as most of the funds was deposited at Ronceveral, thirty miles distant, the bank having no vault. The robbers escaped, leaving no clue. The postoffice and a hardware store was robbed and another store's cash drawer was looted. The burglars secured about $100. It is thought to be the work of an organized gang HENDERSON, Ky., special: John Swanason, colored, was killed while attempting to break jail. A conspiracy to escape had been found to exist among several of the prisoners, which when they attempted to acomplish it, resulted in the death of the leader. Swanagan was a powerful fet ow, and before he was subdued he whipped Jailer Kohl, Deputy Jailer Whitehead and three negro trusties. The coroners's jury returned a verdict exonerating the jailer and his assistants. LITTLE ROCK, Ark., special: Deputy Sheriffs Ed Edwards and Willis Baxter were sent out on the line of the Little rock and Monroe Railroad near Mon. oe, La., to apprehend a man named Hugh Abrams who had been in the habit of shooting into passenger trains on the outskirts of the city. They met in the dark and mistook each other for the culprit and opened fire. Edwards dropped dead in his tracks and Baxter received a fatal wound. VANCEBURG, Ky., special: Major William Hardiman, one of the oldest and wealthiest men of Lewis County, was found dead on the road leading to this place, with three rifle balls in his body. Suspicion points to another wealthy resident of the county as his assassin, as the men had been deadly enemies for years, and the man under suspicion had openly declared years ago that some day he would kill Major Hardiman. PARKERSVILLE, W. Va., special: David Weaver of Cairo, Ritchie County, on whose land a big 240-barrel a day well was struck, died of heart disease resulting from excitement over his stroke of good fortuue. He had been in poor circumstamcès all his life and the prospects of sudden wealth was too much for him. OKLAHOMA CITY, Oklahoma, special: The Oklahoma National Bank went into voluntary insolvency and transferred all its business to the First National Bank. This bank failed in 1893, passing into the hands of a receiver and finally reopening, but the institution could not regain its lost prestige. HENNESSEY, Oklahoma. special: The first rain here since October has begun falling. It is too late to help wheat, but will be valuable to other crops.