gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
6718a0fe9b9c5e6c
Response Measures
None
Receivership Details
Depositor recovery rate
92.7%
Date receivership started
1933-07-27
Date receivership terminated
1937-09-24
OCC cause of failure
Losses
Share of assets assessed as good
57.9%
Share of assets assessed as doubtful
39.4%
Share of assets assessed as worthless
2.8%
Description
Articles describe a 1907 territory-wide bank holiday and a separate 1933 closure with receiver and embezzlement/shortage.
Events (5)
1.May 3, 1900Chartered
Source
historical_nic
2.October 28, 1907Suspension
Cause
Government Action
Cause Details
Territorial proclamation declaring a legal holiday (six days) closing all Oklahoma banks to prevent runs because correspondent banks refused to forward currency.
Newspaper Excerpt
Acting Governor Filson today issued a proclamation closing the banks of the territory for a week.
Source
newspapers
3.July 19, 1933Suspension
Cause
Bank Specific Adverse Info
Cause Details
Sudden discovery of a large shortage (later reported ~$66,000) and missing cashier leading to examiners closing the bank.
Newspaper Excerpt
the bank was closed July 19, by the president and examiners were called to investigate its condition.
Source
newspapers
4.July 27, 1933Receivership
Source
historical_nic
5.July 30, 1933Receivership
Newspaper Excerpt
Roetzel of Oklahoma City arrived in Kingfisher today to take charge of closed First National Bank as receiver.
Oklahoma Banks Close for Week.
Oklahoma City, Okla., Oct. 28.-Acting Governor Filson today issued a proclamation closing the banks of the territory for one week, on demand of the bankers. This action was taken because the banks at Kansas City and St. Louis refused to forward cash to the banks of the southwest.
Concerted Action Taken.
It is said that a consultation of the bankers of Oklahoma, Indian territory, Arkansas and northern Texas by means of the telephone took place during the early hours today, and all have taken similar action. The closing is for the purpose of protecting the banks in case of a run.
2.October 28, 1907Deseret Evening NewsSalt Lake City, UT
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Article Text
# OKLAHOMA BANKS
# CLOSED BY PROCLAMATION
Oklahoma City, O. T., Oct. 28.-On demand of the bankers of the territory, Acting Gov. Charles Filson has issued a proclamation closing the banks of the territory for a week. The action was taken because the banks of Kansas City and St. Louis refused to forward cash to the banks of the southwest. It is said that a consultation of the bankers of Oklahoma, Indian Territory, Arkansas and northern Texas by means of telephone took place during the early hours this morning, and all have taken a similar action. There had been no uneasiness In this city and the bankers say the deposits last week were greater than at any previous week in the month.
The closing is for the purpose of protecting the banks in case of a run. Since the banks here could not get cash from Kansas City in case of a run, they considered the risk too great. The banks of this city are carrying many of the small banks over this territory.
They have aranged to issue clearing house certificates to carry them until conditions have improved.
The banks of the southwest are further embarrassed because of the demand for cash to move the cotton crop.
It was necessary to get cash from the east to meet the demands. The refusal of those banks to forward cash caused the banks to take radical steps to protect themselves.
The governor's proclamation was as follows:
"Whereas, it appears to the undersigned, acting governor of the territory of Oklahoma, that all of the leading cities of the United States through the clearing house associations have entered into an agreement to protect themselves against conditions which they are apparently unable to control, and by such concerted action are refusing to ship currency to country banks which have deposits with them or to honor the bills of lading drawn upon the banks of such, or to pay checks of customers over the counters; and
"Whereas, such action makes it impossible for the banks of Oklahoma to meet the demands upon them for currency to pay for the cotton and other products of the territory, and,
"Whereas, our banks appear to be in a solvent condition, therefore,
"Be it ordained that a legal holiday extending from Oct. 28, six days to Nov. 2, be proclaimed.
(Signed) "CHARLES FILSON.
"Acting Governor."
OKLAHOMA BANKS ALL CLOSED Acting Governor Declares Legal Holiday for Six Days to Protect Institutions in Event of Run. [By Morning Journal Special Leased Wire.] Oklahoma City, Oct. 28.-Acting Governor Filson today issued a proclamation closing the banks of the territory for six days. The action, which was taken on the advice of the bankers of Oklahoma, was due to the refusal of the banks of St. Louis and Kansas City to forward cash to the banks of the southwest. The closing of the banks is for the purpose of protecting them in the event of a run. All of the financial institutions of the territory are reported to be in excellent condition.
ACTION OF ACTING GOVERNOR SURPRISE TO GOV. FRANTZ Washington, Oct. 28.-"It was a surprise to me," said Governor Frantz. of Oklahoma, tonight in speaking of the action of acting Governor Filson in issuing a proclamation declaring a legal holiday of six days and the closing of the banks of the territory as a result. Acting Governor Filson notified Governor Frantz of his action by telegraph late today. "I have been away from Oklahoma for several days," said the governor, "and therefore I am not familiar with the financial situation there as I otherwise would be, but I am satisfied that the acting governor took the step on the advice of the bankers there. "I do not see how it can injuriously affect the railroad or cotton business, as seems to be feared on the New York exchanges. The closing of the banks simply protects them against any run that might be made on them, and can be revoked at any time." Governor Frantz called at the treasury department and discussed the financial situation in Oklahoma with Secretary Cortelyou, who expressed no concern over the closing of the banks in Oklahoma.
# SIX DAY HOLIDAY.
Acting Governor of Oklahoma Takes Step to Protect Bankers.
WASHINGTON, Oct. 29. "It was a surprise to me," said Governor Frantz of Oklahoma in speaking of the action of Acting Governor Filson in issuing a proclamation declaring a legal holiday of six days and the closing of the banks of the territory as a result. Acting Governor Filson had notified Governor Frantz of his action by telegraph.
"I have been away from Oklahoma for several days," said the governor, "and therefore I am not as familiar with the financial situation there as I otherwise would be, but I am satisfied that the acting governor took the step on the advice of the bankers of the territory. The small country banks have large deposits in St. Louis and Kansas City, and the action of those banks in refusing to ship any currency to the country banks of Oklahoma makes it almost impossible for the latter to handle their business.
"I do not see how it can injuriously affect the railroad or cotton business, as seems to be feared on the New York exchanges. There is no reason why it should. The closing of the banks simply protects them against any run that might be made against them. However, if it is found that the holiday order results in stagnation of business it can be revoked at any time."
Governor Frantz called at the treasury department and brought Acting Governor Filson's telegram to the attention of Secretary Cortelyou.
Governor Frantz said, however, that Secretary Cortelyou did not express any concern over the closing of the banks in Oklahoma.
6.October 29, 1907The Salt Lake HeraldSalt Lake City, UT
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Article Text
# BANKS CLOSED FOR SEVEN DAYS
Oklahoma Institutions Solvent
But Unable to Get Currency
From the Big Cities.
IMPOSSIBLE TO KEEP OPEN
PROCLAMATION ISSUED BY ACTING GOVERNOR.
Oklahoma City, O. T., Oct. 28.-On demand of the bankers of the territory. Acting Governor Filson has issued a proclamation closing the banks of the territory for a week. The action was taken because the banks of Kansas City and St. Louis refused to forward cash to the banks of the southwest. It is said that a consultation of the bankers of Oklahoma, Indian Territory, Arkansas and northern Texas, by means of telephone, took place during the early hours this morning and all have taken a similar action. There had been no uneasiness in this city and the bankers say the deposits last week were greater than at any previous week in the month.
The closing is for the purpose of protecting the banks in case of a run. Since the banks here could not get cash from Kansas City in case of a run, they considered the risk too great.
The banks of this city are carrying many of the small banks over this territory.
They have arranged to issue clearing house certificates to carry them until conditions have improved.
The banks of the southwest are further embarrassed because of the demand for cash to move the cotton crop.
It was necessary to get cash from the east to meet the demands. The refusal of those banks to forward cash caused the banks to take radical steps to protect themselves.
The governor's proclamation was as follows:
"Whereas, It appears to the undersigned, acting governor of the Territory of Oklahoma, that all of the leading cities of the United States through the Clearing House association have entered into an agreement to protect themselves against conditions which they are apparently unable to control, and by such concerted action are refusing to ship currency to country banks which have deposits with them or to honor the bills of lading drawn upon the banks of such, or to pay checks of customers over the counters; and,
"Whereas, Such action makes it impossible for the banks of Oklahoma to meet the demands upon them for currency to pay for the cotton and other products of the territory; and,
"Whereas, Our banks appear to be in a solvent condition; therefore,
"Be it ordained. That a legal holiday extending from October 28, six days to November 2, be proclaimed.
(Signed) "CHARLES FILSON,
"Acting Governor."
7.October 30, 1907The Salt Lake HeraldSalt Lake City, UT
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Article Text
# Bank Holiday in Oklahoma Forced by New York Situation.
Guthrie, O. T., Oct. 29. -Acting Governor Filson today made a statement as to the actual conditions which prompted him in issuing a proclamation providing for six legal holidays. The statement follows:
"The issuance of a proclamation yesterday by the acting governor of Oklahoma making the period between Oct. 28 and Nov. 2 legal holidays whereby Oklahoma banks temporarily may suspend business, was due primarily to the present policy of New York banks. The latter, by refusing to furnish currency to western correspondents forced, through clearing house associations, the banks of Kansas City, St. Louis and Wichita, reserve centers for Oklahoma banks, to decline to furnish currency to interior banks or pay cash to patrons in person or to make cash credit cr bills of lading. Oklahoma at this time is in the midst of a cotton harvest, which requires large sums of immediate cash. The handling of this cotton crop without being able to draw upon their reserve centers for necessary funds meant disaster to every bank in Oklahoma that attempted to accommodate all its customers, as the slightest wavering would have caused the withdrawal of deposits by customers already alarmed by conditions in the east.
Requested by Bankers.
"In view of the threatening aspect of the situation, the clearing houses of Guthrie, Oklahoma City and Shawnee, and many bankers in Oklahoma requested the issuance of a gubernatorial proclamation for a six-day holiday, or until earlier revoked by executive order, to enable the Oklahoma banks to protect themselves until money began moving westward in sufficient amounts to permit their reserve centers to transact business on a normal basis. The proclamation was issued under section 2797, statutes of Oklahoma, which permits the governor of the territory to fix such holidays as he may deem desirable.
"The proclamation seems to be giving confidence instead of causing possible uneasiness. I believe the situation will speedily adjust itself, as both the citizens and banks of Oklahoma are in a highly prosperous condition.
(Signed) "CHARLES H. FILSON, "Acting Governor."
Reports received here from all parts of Indian Territory and Oklahoma to-
On Banks of Oklahoma and Neigh-
boring States And They
Close Up.
# ORDER BY THE GOVERNOR
City Banks Refuse to Forward Cash
And The Supply on Hand
is Low.
[By Associated Press.]
OKLAHOMA CITY, Oct. 28.-Ev-
ery bank in Oklahoma and Indian
Territory remained closed today in
accordance with the orders of Ter-
ritorial Governor Frantz.
It is said a telephone consulta-
tion by many bankers of Oklahoma
the Indian Territory, Arkansas and
Northern Texas was held this morn-
ing and all decided upon similar-act-
ion.
The action was taken because the
banks of Kansas City and St. Louis
refused to forward cash to the
banks of the southwest. Since the
banks could not get cash in case of
a run, they considered the risk too
great.
9.October 31, 1907The Weekly CorinthianCorinth, MS
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Article Text
All banks in Oklahoma are closed by order of Acting Governor Chas. H. Tilson to prevent possibility of disastrous runs.
10.March 2, 1933Las Vegas Daily OpticEast Las Vegas, NM
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Article Text
SEVENTEEN STATES CHECK RUNS ON BANK
Seven More Join Movement to Restrict Withdrawals of Deposited Moneys
THREE AND FOUR DAYS TO BE TEMPORARY HOLIDAYS
Situation Easing in Some States as Legislatures Planned Curb Laws
Mississippi, Arizona, Nevada and in Oregon today joined the states. which there are limitations placed on the withdrawals of deposits from banks. in which limitations on withdrawals now exist. The proclamation of Gov. Ralph at San Francisco makes mandatory the closing of California banks (or three-day period ending Saturday The three-day holiday called Gov. Murray in Oklahoma for same period also is mandatory. The of Gov. Allen of Louisiana provides for the sation until the end of the week "all public business including Banks and other public enterprises." Mississippi the decree of state banking called only (Continued On Page Two)
11.July 30, 1933The Enid Morning NewsEnid, OK
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Article Text
ROETZEL IN CHARGE KINGFISHER BANK
KINGFISHER, Okla., July Roetzel of Oklahoma City arrived in Kingfisher today take charge of the closed First National bank receiver. He formerly banker at Okeene about ten years Anderson and North, bank inspectors, left yesterday made no local report of their findings, They will return Monday confer with Roetzel. Wives Leland sent cashier, and Floyd Kerns, said have been associated with him in business venture they called the Kingfisher Investment company, are still in Kingfisher but have had no word from their husbands. Carlberg, bank president, would make statement today.
12.July 30, 1933Muskogee Daily Phoenix and Times-DemocratMuskogee, OK
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Article Text
RECEIVER TAKES OVER THE KINGFISHER BANK of Oklahoma Joseph Roetzel today take in Kingfisher arrived First National the closed charge of He was formerly bank as banker at Okeene about ten years ago. R. Anderson and bank inspectors, left yesterday find- but on their no local report made Monday to They will return ings. confer with Wives of Leland R. Carlberg, absent cashier, and Floyd Kern, said him been associated to have they called business venture in Investment company, Kingfisher the are still in Kingfisher but have had no word from their husbands bank president, Carlberg, would make no statement today.
13.July 30, 1933The Ada Evening NewsAda, OK
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Article Text
ROETZEL TAKES CHARGE OF KINGFISHER BANK
KINGFISHER. July Joseph Roetzel of Oklahoma City arrived in Kingfisher today to take charge of closed First National Bank as receiver H was formerly banker at Okeene about ten years ago. C. R. Anderson and R. B North, bank inspectors. left yesterday but made no local report of their findings. They will return Monday to confer with Roe-
Wives of Leland R. Carlberg. absent cashier. and Floyd Kerns. said to have been associated with him in business venture they called the Kingfisher Investment company are still in Kingfishe but have had no word from their husbands J. A. Carlberg, bank president. would make no statement today
14.August 10, 1933Kingfisher Free PressKingfisher, OK
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Article Text
JOE P. ROETZEL, BANK RECEIVER WELL KNOWN BY OLD-TIMERS HERE
Joe P. Roetzel, of Oklahoma City, who is receiver for the First National Bank here, is no stranger to many of the old-timers in and around Kingfisher. Mr. Roetzel homesteaded between Loyal and Okeene at the opening of the C. and A. country. He later moved to Okeene where he organized the First National Bank of Okeene and lived at that place for a number of years.
15.August 10, 1933The Kingfisher TimesKingfisher, OK
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Closed First National Bank Short; To Liquidate.
North, national bank iner, finished his examination the First National bank Kingfisher Friday and turned the institution over Joe Roetzel of Oklahoma City for liquidation. shortage in the bank $66,000. The losses proximately all occurred within period of few weeks before the bank's July Prior to that time on the bank was in an excellent dition, examiner found. Roetzel unable this time to give depositors definite formation as what percentage their they will receive money result of the liquidation. He hopes that may much He will push his work rapidly possible, minimum of He expense. will assisted by Thelma Doty, assistant cashier of the bank. Persons who the bank, and have deposited there, will money receive credit their loans for the full amount of their deposits. Carlberg, missing cashier, bonded for only $5,000. holders liable for double the amount of their stock, but large of this will, no doubt, not collectable. Roetzel makes the following statement which will be of to the public:
To the and citizens of patrons Kingfisher and trade territory:
You doubt have been wonderno why could not any you first hand information regard the First National Bank Kingfisher. For the general the bank charge of the National Bank iners up to last Friday, August and the National Bank noon, examiners not permitted public information any garding banks to anyone. receiver, took the bank August at noon. There great deal of mail that had to attended Myself, and Miss who will assist in the Doty, bank, worked for two of this mail that accumulated care since the bank closed July 19th. We opened the bank Monday, August 7th, for general business, and must were much pleased by the way the this bank feel in this matter. We explained best could questions that any asked of and are ready and anxious to do all can to assist the patrons any time, and going to do our best to liquidate this bank soon possible, and with as expense as sible to the depositors. The bank bad condition. Any questions may to the bank regard in and will gladly will give statement you regard to the bank as possibly can; kindly ask to withhold blaming anyone for the delay, unavoid-
JOE Receiver.
16.August 10, 1933The Kingfisher TimesKingfisher, OK
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NOTICE
Notice hereby given persons who have claims may against First National Bank Kingfisher", Oklahoma, that the must be presented to Roetzel, Receiver, with the proof thereof within three months from this date they be disallowed. may Comptroller the Currency published Times
17.September 28, 1933Kingfisher Free PressKingfisher, OK
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MISSING BANKER UNDER ARREST
Sheriff Ed Martin and County Attorney V. D. Firestone went to Salina, Kansas, Tuesday and returned Wednesday night with L. R. Carlberg, cashier of the First National Bank of Kingfisher, who has been missing since July 19. A warrant had been issued on September 25 and he was taken into custody at Salina on the 27th. The bank was closed July 19, by the president and examiners were called to investigate its conditon. It is now in process of liquidation. The specific charge in the warrant is embezzlement in the amount of $300. However, the shortage is said to be over $60,000. Carlberg was arraigned this (Thurs. day) morning before C. 0. Oakes Justice of the Peace, entered a plea of not guilty and bond was set at $5,000. Bond had not been made at the ime of going to press.
18.October 12, 1933The Kingfisher TimesKingfisher, OK
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sewing room, providing unemployed women, openin Kingfisher this week above the First National bank. action climaxed several weeks activity the local women, who completed the necessary arrangements in spite many difficulties which were countered. The labor will be paid for through the office of Henry Miller. Use of two sewing machines and electric has donated citizens, and the city furnishelectricity. The location may be used by permission the bank receiver, until time there shall an to secure tenant. tho't that made available heat during rooms uncomfortable weather. Old garments, also donated, are being made wearable clothing. the work will used one four days, every week, the amount of work pending upon the number pendents they have. Women whose husbands also registered, and receiving widows pensions, other aid, eligible work in the sewing Twelve being employed this week, the Anna Bengs. Next week the colored of women the community will the use sewing provided there sufficient material hand keep them busy. the project to be tinued, will for the necessary people of the community keep the room supplied with clothing be made
Work projects for been approved for Hennessey and Cashion. of this nature are already progress Dover and Kingfisher, an basis.
19.December 7, 1933The Kingfisher TimesKingfisher, OK
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INDICT KERNS AND CARLBERG
Roe Roetzel, First National bank receiver, Thelma Doty, Kingfisher, and Sam Kelly of Cashwere in Oklahoma City Wednesday appearing before the federgrand witnesses in hearing accusations againstt Leland Carlberg and Floyd Kerns, growing out of the failure of the local bank in July. Charges against Carlberg and Kerns, of misplacing funds of the bank, confirmed in dictment returned by federal grand jury at City day. The pair will face federal court trial, probably at the Januterm court. They leged to have turned of the bank's money to their the market and indicted grain five counts alleging misapplication of funds and making false tries the bank's books. The counts enumerated three séparate items $5,000 each and for $8,250. Dates of the alleged fenses are from last July to when the wheat market fluctuating sharply.
20.October 18, 1934The Kingfisher TimesKingfisher, OK
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BANK DIVIDEND DEMAND
Roetzel, First National Joe receiver, reported WednesBank evening that about day the dividend checks had called for during the time that elapsed since they received from Washington. The remainder are expected short time. first dividends have brought deposithere other dividends in the future. well pleased with the which bank's being liquidated. that the national bank present time local bank have offset the it has nothing. The ultimate not nearly as great Roetzel believes. liquidator has ably asMiss Doty, whose with the bank's records much time and have been no other
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
