Nowata National Bank (Nowata, OK)

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BANK RECEIVER TO BE NAMED SOON

Although it was confidently expected that a receiver for the Nowata National bank would be named today, the bank officials had received no word of the appointment at 4 o'clock this afternoon.

Messrs. Peterson and Sutton, the examiners in charge of the bank, finished their work of checking up the condition of the bank several days ago and have been patiently awaiting the arrival of the receiver in order that they might turn the affairs of the bank over to him and look after their work in other cities.

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KING TO BE NAMED BANK RECEIVER

The Nowata National Bank at 4 o'clock this afternoon received a telegram from the comptroller of the currency at Washington advising that Clyde King had been named receiver for the bank.

Clyde King, of this city, will be named as receiver for the Nowata National Bank.

This information was received in telegrams received today by E. E. Sams from Senator J. W. Harreld and Congressman E. B. Howard. The telegram from Senator Harreld read "Clyde King will be appointed receiver for the Nowata National Bank", while the one from Congressman Howard read "Clyde King today appointed receiver for Nowata National Bank."

While the bank had received no official confirmation of the appointment at 3:30 o'clock this afternoon, there is little doubt but that Mr. King will be named to this important position. The appointment of the Nowata man will be welcome news not only to the depositors and directors of the bank, but to the people of Nowata county in general. By having a man acquainted with local conditions on the job, it is believed that better results will be obtained in winding up the affairs of the institution.

Clyde King has the confidence of the people of Nowata county and in the handling of the affairs of the bank he will see that everyone gets a square deal.

Taloga—The Halren Produce company, large produce house in western Oklahoma, has opened a receiving station at Taloga.

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MUSKOGEE'S IRE AROUSED OVER SENATOR'S BILL

OBJECTS STRONGLY TO TULSA, CLAIMING PRIORITY FROM TERRITORIAL DAYS.

Special to The Tribune.

MUSKOGEE, Ok.—Now that the fight over the selection of a federal judge for the eastern district of the state has been settled by the senate's approval of Judge Franklin E. Kennamer, another fight over the headquarters of the court is looming. And Muskogee lawyers and those men who make their living by attaching themselves in some capacity to a court are sore over what they hear from Washington—oh, very sore.

Senator Harreld, it is understood here, will soon introduce a bill to establish the headquarters of the new jurist at Tulsa, and providing him with a retinue of deputy clerks and marshals to handle his court business.

Judge R. L. Williams, as the senior judge of the district, naturally might be expected to have his choice in the matter of court towns and the sessions over which he will preside. The Harreld bill as proposed, it is asserted by interested parties here, will so define the activities of the additional judge as to practically gag Judge Williams in the matter of assignments. Judge Williams is a Democrat.

Say Judge Williams Likes Tulsa

An interesting sidelight on the situation created by Kennamer's appointment is that Judge Williams himself likes to hold court in Tulsa, and the assignment by congressional act of the Tulsa territory to Kennamer would be a direct slap at the veteran jurist.

It has been tacitly understood all along that one or the other of the federal court judges would be in residence in Tulsa because of the large amount of litigation originating there, but not even the most rabid Republican partisans even so much as suggested that an effort would be made to parcel out the Tulsa territory officially to the new Republican jurist.

While nothing has been said officially or unofficially in federal circles here, it is said there is some alarm that Muskogee's prestige as a court town is seriously threatened by the interests behind the Harreld bill.

The seat of the federal court for the eastern district of Oklahoma was established in Muskogee when Tulsa was merely a wide spot in the road between the Osage cattle country and the railroad loading pens.

The oil growth of Tulsa made that city a metropolis almost over night, but Muskogee has continued to hold the lead over Tulsa in the number of federal court cases filed because this city is headquarters for the offices of the Five Civilized Tribes.

In effect, Tulsa's federal court organization of recent years has been simply a tail on Muskogee's kite. Now there is a movement on foot to reverse the procedure, and make Tulsa the big court town of the district.

Senator Harreld's proposed bill will be the first step in this direction, it is said, and actual consummation of the coup will be effected a little later on when it is established what kind of an organization is necessary at Tulsa to care for the business.

Senator Harreld is expected to return to Oklahoma immediately to be in the state for the Republican state committee meeting Saturday. Since a fight on the bill establishing Kennamer's residence at Tulsa is certain to be a bitter one, action can not be expected for some time.

Nowata Bank Receiver Named

NOWATA, Ok.—Clyde A. King, of this city, former vice president and manager of the Alluwe Oil Co., has been named as receiver for the Nowata National bank, which recently closed its doors. The affairs of the bank have been turned over to Mr. King by F. R. Peterson, national bank examiner, and he has been placed in charge.

Falls Dead At Wife's Grave.

CRESTVIEW, Fla.—S. J. Manning, 87, fell dead across the grave of his wife here today, as the body was being lowered into the earth. Manning, weakened by age and sorrow over his wife's death, seemed to lose what strength he had left as the funeral hour approached. The minister was pronouncing the final words of the burial service when Manning died.

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KING NOWATA BANK RECEIVER

Former Oil Company Manager Takes Over Defunct Institution.

Special to The World.

NOWATA, Feb. 21.—Clyde A. King of this city, former vice president and manager of the Alluwe Oil company, has been named receiver for the Nowata National bank, which recently closed its doors. The affairs of the bank have been turned over to Mr. King by F. R. Peterson, the national bank examiner, who has been in charge.

According to those who are in a position to know, this is the first instance in which the comptroller of the currency has appointed a local man to a position of this kind.

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TO INSPECT RECORDS

Office Will Be Closed Until Complete Audit Is Made by Examiner

Special to The World.

NOWATA, Feb. 23.—J. S. Rutherford, county treasurer, has tendered his resignation to the board of county commissioners, and L. T. Kinkead has been appointed to fill out the unexpired term. The resignation of Mr. Rutherford was tendered when the bonding company on his official bond asked to be relieved as his surety.

The action of the bonding company came as the result of being forced to pay $9,770.09 to the county to cover the loss sustained on county deposits in the Bank of Wann, which closed its doors several months ago. These funds were not protected by bond.

Following on the heels of the Wann bank failure, there was on deposit in the Nowata National bank, which closed its doors last week $2,200 of the county's funds. These funds were also unprotected and it is probable that the bonding company will be compelled to pay this amount to the county.

The office of the county treasurer is closed pending the arrival of an auditor from the state examiner and inspector's office.

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Bank Receiver Named. Special to The World.

NOWATA, Feb. 23.—Clyde King of this city, has been appointed receiver for the Nowata National bank, which recently closed its doors, according to word received from the comptroller of the currency at Washington. The appointment seems quite agreeable to the depositors and officials of the bank, who feel that a square deal in handling the affairs of the bank is assured to every one.

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Named Bank Receiver

Nowata, Okla., Feb. 26.—Clyde King, of this city, has been appointed receiver for the Nowata National bank, which recently closed its doors, according to word received from the comptroller of the currency at Washington. The appointment seems

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RECEIVER CANNOT ISSUE STATEMENT

Almost every day the Star is asked the question by depositors of the Nowata National Bank and the public generally as to when a statement concerning the condition of the bank might be expected. In a conversation Saturday with Clyde King, receiver of the bank, it was stated that the affairs of the institution are now in the hands of the Comptroller of the Currency, who issues all orders regarding the conducting of the receivership. The former officers of the bank are no longer connected with the institution and have no authority to issue a statement, as the receiver is the representative of the treasury department and is in complete charge. The department positively forbids the receiver making any kind of a statement as to the present status or the ultimate outcome of the institution.

In the handbook of instructions to national bank receivers, the following is found in Chapter II and pertains to information concerning the institution:

Information.

"Receivers should under no circumstances give out information concerning their trusts. The receiver should state that it is a rule of the department that no information should be divulged by receivers. Secrecy must be maintained, as it is possible to work great injury to the trust by giving out information which may subsequently prove erroneous and which may result in serious loss to the trust by giving outsiders opportunity to interfere with the receiver's plans of liquidation. Courtesy and tact should be used in all cases, especially in dealing with those who were formerly customers of the bank, and are necessarily much disturbed over the failure.

"Subsequently, if requests are made for data, they should be referred to the department for proper attention. Special care should be exercised by the receiver not to express an opinion as to what percentage the creditors of his trust will receive or when they will receive it, as this information would tend to encourage speculation in claims against the receivership and would be a ground of criticism if the trust did not pay as large a percentage as was anticipated or as soon as estimated. It is advisable to give this explanation in refusing requests for information."

In giving the Star this information, Mr. King also made the statement that if any of the former customers of the bank desired any information to which they are legitimately entitled, they could obtain same in a direct and authoritative manner by taking the question up directly with the receiver and not relying on street rumors or gossip.

This paper believes that those who have had occasion to deal with Mr. King in his capacity as receiver, or who have had dealings with him in other lines of business, recognize his fairness and reasonableness on all matters. Mr. King is a man whom anyone can talk to and we feel sure than anyone desiring first hand information on any subject regarding the bank can receive definite information by going to him direct and talking the matter over with him.

Wewoka.—Wewoka is to have a golf and country club. Business men here are perfecting plans of organization and making tentative negotiations for several possible sites.

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Bank Receiver Gets $30,000 Collected quarterly report of John H. Dykes, receiver of the Nowata National bank, to the comptroller of the forwarded currency shows that in the past three the receiver has collected months more than was collected the nine months. The bank previous closed Feb. 1924.

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DYKES IS RECEIVER OF SAPULPA BANK

John H. Dykes, receiver of the Farmers National Bank of this city, First National Bank of Lenapah, Okla., and the Nowata National Bank of Nowata, Okla., last night received telegraphic advice from the comptroller of the currency in Washington that he has been commissioned receiver of the First National Bank of Sapulpa, Okla., to succeed the present receiver, Frank Wasson, resigned. The Sapulpa institution was closed in July, 1923, was a one and one-half million dollar concern, and has paid total dividends of 20 per cent to date.

The first of this week Mr. Dykes began paying off to the depositors of the Farmers National Bank in this city a dividend of 10 per cent, bringing the total paid to date up to 100 per cent. The bank suspended in March, 1924. Mr. Dykes says he hopes to be able to realize sufficient from the remaining assets to pay the depositors 6 per cent interest on their money from the time they were out it. This is the only national bank receivership in the Tenth Federal Reserve district which has ever paid out 100 cents on the dollar. With the goal Dykes has set for himself he bids fair to beat the best record for the whole United States in the matter of paying out insolvent national banks. E. L. Burton and Carl V. Rice are local attorneys for the receiver here. With added duties making a total of four banks now on his hands, and with a stretch of territory 150 miles long to cover each week, Mr. Dykes' duties will assume more of the executive and directional part of the administration of all these banks' affairs, each bank being in charge of an assistant.

James H. Smith, a Parsons young man who was employed in the Farmers National Bank here at its suspension, is Mr. Dykes' chief assistant covering all banks in charge of all detail work and the books. "Jimmie" Smith, although 19 years of age, has become an expert in his line and his services are frequently sought by new receivers to install and set up receivers' books.

Dykes and Smith left this morning for Sapulpa to take charge.—Parsons, Kan., Republican.

Another trouble with the world is that too many people are worrying over their lack of dollars and not enough are worrying over their lack of sense.

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AWAITS DEPOSITORS

Five Thousand Fall to Call for Funds in Nowata Bank.

NOWATA. Oct. 18 list of approximately five thousand depositors in the defunt Nowata Na. tional bank have yet filed claims for their dividends, has posted in the bank's windows. The list shows deposits ranging from cent to $882.55. The bank has paid 35 per cent in dividends and unless claims are filed the will be sent the comptroller of the treasury and turned back into the United States treasury.