gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
abd9c421a60b5c0f
Response Measures
None
Receivership Details
Depositor recovery rate
88.2%
Date receivership started
1934-04-09
Date receivership terminated
1940-10-04
Share of assets assessed as good
39.6%
Share of assets assessed as doubtful
59.4%
Share of assets assessed as worthless
1.0%
Description
Articles span multiple episodes (1907 holiday, 1928 rumor-run, 1933 moratorium and 1934 receivership); final outcome is permanent closure with receiver.
Events (10)
1.September 11, 1902Chartered
Source
historical_nic
2.October 28, 1907Suspension
Cause
Government Action
Cause Details
Territorial acting governor proclaimed a six-day legal holiday closing all Oklahoma banks because correspondent centers refused to forward currency.
Newspaper Excerpt
Acting Governor Filson today issued a proclamation closing the banks of the territory for one week
Source
newspapers
3.July 20, 1928Run
Cause
Rumor Or Misinformation
Cause Details
A rumor prompted deposit withdrawals but large depositors and officials publicly assured customers the rumor was false.
Random Run
Yes
Random Run Snippet
Rumor prompted withdrawals; large depositors said the rumor was false
Measures
Public assurances by large depositors and bank officers to stem withdrawals.
Newspaper Excerpt
Large depositors ... assured them that the rumor was false, and the bank in good [condition]
Source
newspapers
4.March 2, 1933Suspension
Cause
Government Action
Cause Details
State-mandated temporary holiday/limitation on withdrawals during 1933 banking moratorium to curb runs.
Newspaper Excerpt
The three-day holiday called Gov. Murray in Oklahoma for same period also is mandatory.
Source
newspapers
5.June 15, 1933Other
Newspaper Excerpt
L. M. Vance ... to make a complete new examination of the State National bank ... determine whether the bank will be reopened or liquidated. (Comptroller appointment.)
Source
newspapers
6.January 12, 1934Other
Newspaper Excerpt
American National Bank opened its doors ... the building formerly occupied the State National Bank. The bank has purchased certain acceptable assets of the old State National Bank, and are paying ... dividends on unsecured deposits of that bank which closed at the time of the banking moratorium.
Source
newspapers
7.April 9, 1934Receivership
Source
historical_nic
8.April 10, 1934Receivership
Newspaper Excerpt
Johnson has received telegraphic notice of receiver of the State National bank of Shawnee, which has been under conservator since the banking holiday last year. Johnson took charge of the bank today. (Receiver appointed.)
Source
newspapers
9.May 4, 1934Other
Newspaper Excerpt
Roy F. Johnson, receiver for the defunct State National Bank of Shawnee filed ... to collect damages ... (Receiver sues over assets/claims.)
Source
newspapers
10.December 21, 1934Other
Newspaper Excerpt
Announcement ... State National Bank would make another payment ... Will Make Total To Date 70 Cents On Dollar ... receiver said ... more will be paid to the depositors.
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.July 20, 1928Shawnee News-StarShawnee, OK
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Article Text
CONFIDENCE IN BANK OFFICIALS SHOWN BY PATRONS
TAKE OUT FUNDS
Long Acquaintance Of Men In State National With People Of Vicinity Made Possible The Progress So Noticeable At Present the removal of the State Na. bank into puarters Saturtional mark of distinction will. be attributed the officers and directo of the organization in conductthat would justify the ing business put into effect expansion program by the bank It the long acquaintance of the directors and officials with of this vicinity that has the people possible the patronage of the in manner that causes it to after year and make progress advantage of the good will of take the to No confidence in bank can shown than by few banks been all country. Some kind ing over of that the State National bank to among few of depositors panic started and bank was for the business the next large crowd of persons to Large depositors got in other who assured them that the rumor was false, and the bank in good So great their confidence in those who have charge of the bank that no business
11.July 20, 1928Shawnee News-StarShawnee, OK
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Article Text
Byron Well Known
WILLIAM BYRON Byron, cashier State National has with the institution since Prior that time he cashier of the State tion he several Byron of bankers in from of and ness large circle of known for his Besides being Byron a member of the board of directors. and handles the exchange department. man of the withdrew his and this confidence passed on the line the on the bank was confined to only a few accounts Many banks have been wrecked with than was for the run on the State National at that time, and it was only the confidence the had in the which was public over period of that gained kept the "run" from officers of the bank are: Willard chairman of the As the oldest in Johnston enjoys the of all his associates, and his management is judgment on high. He is the guiding hand behind the State National bank. Alhe has turned much of the active management over to other ficers. W. R. son of Willard Johnston, was elected president of the bank at the of last There is no one in who would be better qualified the position than Ross, as he reared in Shawnee, when through school later graduating from the University of Oklahoma. Ross is known to all of the younger generation as a football player and prominent in all school athletics. however. the older business men have begun to realize that he knows as much about banking as he does He is of the most popular ness men of Shawnee Dr. vice president of the bank was elected to the position in who has lived in approximately 20 connected with the banks here for he widely as civic booster for Joe F. active president of the entered the of the State National bank after took the old Union State and with every since. He is of the early settlers in Oklahoma, and wide experience in business Paul P. is another
12.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)
13.June 15, 1933Greensburg Record-HeraldGreensburg, KY
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Article Text
L. M. VANCE TO DETERMINE IF BANK REOPENS
The Shawnee Morning News, Shawnee, Okla., recently published the following story regarding L. M. Vance, national bank examiner, formerly of this city, being named to make final inspection of the State National Bank:
L. M. Vance, national bank examiner of Illinois, was nanted by J. F. T. O'Connor, comptroller of the treasury, to make a complete new examination of the State National bank, the Shawnee bank reorganization committee was informed late Friday. Vance's report on the bank will be final and will determine whether the bank will be reopened or liquidated. The special examiner's new checkup will be made quickly and his report sent direct to the comptroller of the treasury, thus eliminating much waste of time necessary when the usual procedure is followed.
14.January 12, 1934Shawnee Times-RecordShawnee, OK
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Article Text
BANK BUSINESS
Dividend Payment Made Uninsured Depositors of State National
BOWLBY IS CHIEF
Other Officers are Ingram Guyton, Morey and Barnwell
Business at No. East Main street was huming again Monday the Joyous news of bank in the city was spreading sunshine over the business trict, as the American National Bank opened its doors for business the building formerly oceupithe State National Bank.
Visitors thronged in and out of the bedecked bank lobby all week congratulate of ficers who have been smiles mile broad while coming the callers. the new president, is friendliand one has the feeling that that humaness in the new bank supplanting the hard boiled titude usually attributed to banks and bankers. Mr. Bowlby and his officers have been encouraged over the accounts coming in and the increase in deposits.
Small Accounts Welcomed
"No account will be too large none too small for us to handle Mr. Bwlby declared. He pointed out that he was going to strive to make the service charge to customers as small as posible. feel that banks all over the country need to biuld up goodwill toword the building business and that excessive charge for service have the opposite effect. We are going to strive to give the best servic possible and keep the cost customers at minimum," said.
The other officers Ingram, vice-president, Guy. ton, cashier and Grant Morey and Esta Barnwell, assistant cashiers. Willard Johnson is the chairman of the board of directors, other members being Mr. Bowlby, Mr. Ingram, Roscoe Arrington and Bryant,
State Bank Dividends Paid
The bank has purchased certain of the acceptable assets of the old State National Bank, and are paying through the conservator, Ross Johnson, 45 percent idend on the unsecured deposits of that bank which closed at the time of the banking moratorium. The cashing out of this dividend has been much slower than the officials of the new bank had expected and desired. suppose that since people know that it safe, they aren't in such hurry it," Mr. Bowlby said. Reget maining assets of the old bank, not by the new bank will be liquidated by Mr. Johnson and additional dividends will be paid. All deposts in the new bank up to $2,500 will be insured the provisions of the Federal Deposit Insurance corporation with no assessment to cover deposit surance.
The new bank is member of the federal reserve system. The capital structure is $220,000, $100.000 in common stock; $100,000 in preferred and $20,000 plus.
15.April 10, 1934The Tulsa TribuneTulsa, OK
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NEW BANK RECEIVER
SHAWNEE April F Johnson has received telegraphic notice of ceiver of the State National bank of Shawnee, which has been under conservator since the banking holiday last year. Johnson took charge of the bank today.
16.April 10, 1934Muskogee Times-DemocratMuskogee, OK
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NAME BANK RECEIVER
SHAWNEE April F. Johnson, receiver for three banks of the closed Douglas chain, has been appointed receiver for the State Na. tienal bank of Shawnee, succeeding Ross Johnston conservator.
17.May 4, 1934Muskogee Daily Phoenix and Times-DemocratMuskogee, OK
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SHAWNEE BANK RECEIVER SUES FOR $4000 DAMAGES
A dispute over-the ownership of fixtures and properties in the defunct Holdenville Theater Co. entered federal court yesterday as Roy F. Johnson, receiver for the defunct State National Bank of Shawnee filed against R. D. and Lottie Howell to collect damages of $4000. Johnson alleges that the bank for which he has been appointed receiver holds mortgage on the properties of the Holdenville Theater Co. and that the Howells also held indebtedness against the picture show company. Johnson complains that the Howells have taken and disposed of certain properties in the Grand and Dixie theaters, and that they have damaged his bank to the extent of $4000.
18.December 21, 1934Shawnee Times-RecordShawnee, OK
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Announcement this week that the State National Bank would make another payment deposits brings as much happiness the depositors in that bank Santa Claus will bring to Tuesday.
The announcement makes us wish had lost money in the old bank.
Our guess is depositors will get all their money eventually. And dame rumor has it something big is in store for the bank about the first of the year. Which is ali one can get from street talk.
Sale of Christmas trees and decorations in Shawnee would indicate most homes here are ready for arrival of the bewhiskered gent from the cold bleak northland.
Looking back over year conditions here are somewhat improved. Merchants report busines. better than in many years. The government's efforts in turning normal conditions taking effect here, believed
About one more year of the magic recovery hypo will put the nation where was 10 years ago, financial experts say.
Oil fans of Shawnee are wait ing for the Sauter well to decide how big an oil play this city will get in 1935. There is not muc. noise made at the present but are hoping it is the lull before the storm of oil.
If Santa really wants to make big hit out northeast of Shawnee he can bring that section Wileox producer in Sauter well. That wouldn't be half bad.
John Hickey probably wouldn care if the Sauter well came so big it would blow oil all ove his farm home. Hickey owns large portion of the land imme diately north of
However old man Hardin, who owns most of the land in the Fitts oil field at Ada, raised ned for disturbing him in his old fashioned log cabin he has called home for 40 years, and refused cool million to vacate 10 acres there.
Then we once heard of mai who was plenty angry over ruin ing new suit of clothes when gusher came in on his property in the Oklahoma City field. farmer near Wanette was peeved drilling crew for making much noise his cows didn't give the milk they were capable of.
But can assure Santa if his program calls for big gusher in the Sauter well he won't lose any friendships in that vicinity.
Santa has many things he do for Shawnee this year. The greatest thing we can ask is for happiness and contentment in the homes. Drive that bugaboo of fear and the big bad wolf out of existence. Everything else will come along alright.
Mrs. Medlock of Lawton and Mrs. Ollie Mitchell of Mem phis, Texas, will arrive the last of this week for holiday visit with their brother and sister, Mr and Mrs. Roy Black.
Mr. and Mrs. E. Nicholson and daughter, Moyna June, of Reno, will come Sunday to be the guests of their brother and sister, Mr. and Mrs. P. Hatchcock and Mr. Nicholson's father, George Nicholson, over ChristJoining the family party Tuesday will be Mr. and Mrs. Nicholson and daughters, Mary Lou and Dorothy Ann, of Wewoka.
19.December 21, 1934Shawnee Times-RecordShawnee, OK
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TIMES RECEIVER BANK THINKS
Announcement of 25 Cent Dividend Is Encouraging
STATE NATIONAL PA1
Will Make Total To Date To Depositors of 70 Cents On Dollar
Announcement of the payment per cent dividend to depositors on the original amount their deposits in the defunct State National coming within year of the paying of 15 per dividend, being heralded as compliment to the business judgment of the receiver. "It aim to values out of our assets and it purpose to get much money back to the depositor Ben Johnson, receiver said in commenting on the dividend. He believes that more will be paid to the depositors and he stated that there also will be dividends paid to the depositors of the former Shawnee National Bank for which he is receiver. It will take about three weeks for the amounts to be sent Washington and the checks to signed by the comptroller of the currency and returned, Johnson said. Johnson who through his cervership work has kept in close touch with business over the county believes that conditions much better and that people greatly watomie County is principally agricultural district and farmers should build their incomes around diversified farming, cows, hogs. poultry and sheep, is his opinion. He thinks that more emphasis should be given to sheep raising than is at the present, and that lands which have been taken out of cultivation because of lack of productive value should be plantin pasture grasses. Johnson sees as the chief agricultural problem of the next two or three years the replenishing of classes of livestock, depleted cause of the drouth. The best producers, Johnson recommends for dairy cattle sturdy white face and Durham mixture is his ideal in beef stock. Don't chase poor stock, but don't the other extreme and pay fabulous prices on which returns are almost impossible to make, vises. This is Johnson's first experience as bank receiver. He has been in the banking busines years.
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.
