Producers State Bank (Wilson, OK)

Episode Information

Episode UID
86104371519
Episode Type
Run โ†’ Suspension โ†’ Closure
Bank Type
state
Bank ID
8610437 routing
Routing Number
86-1043
Start Date
July 22, 1926
Location
Wilson, Oklahoma (34.161, -97.425)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
bbe75795d3d78eb3

Response Measures

None

Description

Liquidating agent was appointed and the bank is described as defunct, indicating permanent closure.

Events (3)

1. July 22, 1926 Run
Cause
Bank Specific Adverse Info
Cause Details
Loans had weakened reserves; loans to farmers after crop failure and other loans likely to jeopardize reserves prompting heavy withdrawals
Measures
Officers called the state bank examiner; asked examiner to take charge to avoid violating state banking laws
Newspaper Excerpt
withdrawals $15,000 on Wednesday and Thursday
Source
newspapers
2. July 23, 1926 Suspension
Cause
Government Action
Cause Details
State bank examiner/State Banking Commission took charge after investigation found loans jeopardized the reserve
Newspaper Excerpt
taken by the state banking department Friday; This Bank in the Hands of State Banking Commission
Source
newspapers
3. July 29, 1926 Other
Newspaper Excerpt
Felix Jones... would act as liquidating agent; the Producers State Bank of this [city] failed and referred to as defunct on closing last Friday
Source
newspapers

Newspaper Articles (4)

Article from The Daily Ardmoreite, July 25, 1926

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Article Text

ONLY ONE BANK NOW OPERATING Assets Total $218,000; Loans Made Will Probably Reach $146,000. Business may be crippled by temporary closing of th Producers State bank but confidence in the integ rity of the men behind the Institution has not been impaired and short time. Such is the concensus of opinion expressed by Wilson business men who are facing for the third time bank fullure in the city as result of the Producers State bank being aken by the state banking department Fri day Doors of the institution were lose on orders from Waldo Watkins. bank examiner, following a series of circum stances occurring since the bank over the affairs of the Wilson State tank which suspended activity in 1922 The crisis was reached when If was found that loans were likely to Jeopar dize the reserve of the bank and ( 1 lowed a run on Wednesday and Thurs day, when depositors withdrew approxi Assets of the bank total approximate 15 $218,000 and loans in the approxi mate amount of $146,000 are shown the books is said Watkins Takes Charge F B. Jones, active vice president and cashier and " Ward one of the principal stockholders, stated Saturday that when they saw what happene Thursday they called Waldo Watkins assistant bank -xaminer and asked him to take We did this, Ward explained order that we would not violate any of the state banking laws and lay our selves criminally liable. The affairs of the bank today are in better shape than they year ago, and me confident we will be able to pay dollar for dollar to our depositors soon as affairs are liquidated," he de clared. Officers of the Producers State bank are B. F. Ward. president Ambrose Ward, vice president: B. Jones, ac tive vice president cashie and general anager. and the following stockhold W. Ward, B. Ward. Am and C. W Hughes Resigns Up year Hughes was gener at manager of the institution. but signed and is said to be in business In Oklahoma City It is reported. how. ever. that he retains stock in the bank. Watkins was called Thursday night and arrived Friday morning when the keys and assets of the bank were turn ed over to him. A notice was posted stating that J. A. Shofner, state bank examiner would take charge of affairs Saturday, but officers of the bank do not expect him to arrive before Mon day. when the checking of the instttution will begin. Officers and stockholders are count


Article from The Daily Ardmoreite, July 25, 1926

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Article Text

Ardmore Loses Valued Worker In ATTACK IS MADE ON KLAN FORCES Removal To Texas Of Rev. Morgan This city and state lose able worker when Rev R E. 1. Mor Texas to become president of the Clarendon college is the opinion of those have been Intimately acquainted with him during his 21 years relation ship the West Oklahoma confer The Rev Mr. Morgan is recognized is of the strongest men of the this state where all his ministerial life within the bounds of the West Oklahoma conference. His unanimous election as president of Clar endon by the board of trus tees of that Institution came without his having made application and speaks for the worth of the man a WAS that no further comment Reared on farm he spent his boy hood days near Redford in Trimble educated in the public schools of his native state. in Kentucky Wesleyan ollege and the "niversity of Louisville his LL.B. degree from the latter Institution in 1895 For more than 10 years thereafter Morgan was engaged in the legal pro ession, coming to Oklahoma in July 005. he continued the practice of law six years in the town of Lawton to entered the ministry In 1905 and served in pastorates at Temple Norman Mangum Chickasha and First dethodist church of this city Was Presiding Elder Morgan has been presiding older districts of Oklahoma, Lawton OKhoma City and Ardmore and has erved as educational secretary for the hurch in Oklahoma from 1919 to 1922 He WILS married in 1896 to Miss Ber been splendid helpmate to her husband in his chosen profes They have child, Mrs R. Honry Greensboro, N. C., who is also th wife of minister The Kentucky Wesleyan college Ky conferred the D degree on Morgan In 1914 in dent of the board of education of the West Methodist Episcopal south since now and has for years member Methodist university Member Book Committee honors of member the the general has served since 1918 This commit elected by the eral from the church large At last general tee for another quadrennium, ecumentcal conference which met of the general conferences of 1914 1018 1922 and 1926 of the special sion the general Helps in Methodist Foundation Strice the organization or the has been dean of this Institution or the Oklahoma Methodist Foundation in connection with the state at Norman and member the of beard of trustees of same new field of duties for the first time in his ministerial career of which years It is with regret that Ardmore goodby splendid people Dr Morgan and his people of this community during the they have called this home among the most responsible and wealthy men of Carter county George Legate, of the hamber of commerce, has interviewed he men of Wilson thoroughly nd finds nothing but confidence ex pressed, he 'Wilson business men feel confident hat those behind the Institution, whose integrity cannot be impeach will re open the bank as soon as affairs can be straightened out by the state banking Afairs in Good Shape "There Is general feeling in Wilson that affairs of the bank are in such shape that they will adjust themselves, the secretary added "and while bust ness is somewhat hampered, the loy alty expressed is such that there is hardly possibility of the institution remaining closed.' F. B. Jones, vice president and cash ler. stated that the affairs of the bank would be found in much better condi tion than present Indications seem to warrant and he is sure every customer of the bank will receive the full amount due him. Jones went into minute details regard ing affairs of the institution, all of which will be revealed when the ex aminer makes his report. He told of the load the bank has been carrying for some time in addition to loans made to farmers who through crop failure last season, unable to pay Good Surplus Jones declared with present assets. and resources of the bank, that every questionable piece of paper could be dropped and still the institution would pay out with a probable surplus remain ing Jones is man of experience in banking He has been with the Producers for more than year. coming from Carnegie, Okla. where he formerly was engaged in the banking business. Some have expressed curiosity at the resignation of O. K. (Buster) Coulter, who quit his post three weeks ago and whose place had not been filled. The matter explained by Legate, who said that Coulter resigned last Janu ary He is an expert accountant and desired to enter business for himself. On account of family connections he was induced to remain with the bank until three weeks ago when he quit. Three Failures at Wilson The Wilson has suffered three bank failures since 1922. when the Wilson State bank went under and was reorganized later as the Producers State bank The City State bank closed Its doors in 1924, and to complete the list the Producers was taken over by the state banking board Friday Some business men of Wilson had all their cash in the closed bank and are in an embarrassing position, 08 many have mailed checks to dealers that essarily will be returned unpaid They are making arrangements, however, to take care of their credit The First National bank now is only financial institution in Wilson and is said to be able to take care of all demands made upon it pending the reopening of the Producers. Fined on "Blue Law" Charge PHILADELPHIA Austin, director general of the Sesqui Centennial exposition was Saturday fined $4 and cost on charge of violat Ing the Sunday "blue laws" of 1794 The fine is the maximum penalty un der the ancient law Contract for painting the Interior Ardinore senior high school WILS ed Friday to M G. Kinsey by the board of education and work will be gin at once in order to have pleted by time school opens in Septem Violence Is Avoided By Timely Arrival of Officers Who CORNING many years was narrowly verted when hostile of attempted to stop klansmen on to the county klen meeting on Dining Room Suite; W Goodwin farm mile of the city $188 Officers arrived Just in time to a remarkable value vent trouble Later in the eventug he automobile Genuine American Walnut Dining Room Suite, consistbattered ing of eight pieces as illustrated, makes a finely furnother heaved the ished dining room. There are extras to buy The from the suite is complete. Excellent quality and of a very klansmen the new and popular design The suite complete with reporting lent to the 45x60 table that extends to 8 feet, a large buffet five Hugh and chairs and an arm chair is specially priced at $188.00 Lenox slight able PAY US $25 NOW-THEN $15 MONTHLY undle the first of the north of AT AT out from SNEED'S SNEED'S district the fused to fight arrived The he when of trouble names of plicated High Salary Probed STEEL COUCH BED CONCEALED to Cretonne Covered Mattress he told he got Only $19.85


Article from The Wilson Democrat, July 28, 1926

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PRODUCERS BANK The Producers State Bank of this failed to for business Fricity open day morning. On the door was post"This Bank in the Hands sign, of State Banking Commission." Business be crippled by the may closing of the bank but temporary confidence in the integrity of the men behind the institution has not been impaired and it is almost certain that affairs will be satisfactorily adjusted and the bank reopened within short time. Doors of the institution were orders from Waldo Watkins, on bank examiner, following series of circumstances occurring since the bank took over the affairs of the Wilson State Bank which suspended activity in 1922. The crisis was reached when it was found that loans to jeopardize the reserve the bank and followed Wednesday and Thursday, when positors withdrew $15,000. Assets of the bank total approximately and loans in proximate amount of shown the books, said. Jones, active vice president and cashier, Ward, one of the stockholders, stated principal Saturday that when they saw what happened Thursday, they called Waldo Watkins, assistant bank examinand asked him to take charge. did this," Ward explained, order that we would not violate any of the state banking laws and lay ourselves criminally liable. The affairs the bank toady are in better shape than they were year and are confident will ago, able to pay dollar for dollar to our depositors as soon as affairs are uidated," he declared. Watkins was called Thursday night and arrived Friday morning, when the keys and assets of the bank were turned over to him. O notice was posted stating that A Shofner, state bank examiner would take Saturday. Jones declared with present assets, and resources of the bank. that ery questionable piece of paper could be dropped and still the institution would pay out with probable surplus remaining. Jones man of experience in banking. He has been with the Producers for more than year, coming from Carnegie Okla., where he formerly was engaged in the banking business. The First National bank now the only financial institution in Wiland is said to be able to take care of all demands made upon pending the reopening of the ducers.


Article from The Ardmore Statesman and Weekly Ardmoreite, July 29, 1926

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BANK FAILURE ENCOURAGING PROSPECTS OF FULL PAYMENT OF CREDITORS. JONES TO LIQUIDATE Wilson, Okla July 29 (Special. "That all the depositors would re- ceive their entire deposits" was the statement made by Ambrose Ward, vice president of the Producers State Bank, which closed its doors last Friday after an investigation made by the state bank inspector, Waldo Watkins At the meeting of the Wilson chamber of commerce Tuesday it was ecided that Felix Jones, former cashier would act as liquidating agent. Although there was no real run made on the bank, $15,000 was drawn out by depositors on the day before it was closed. There was less hard feeling and anxiety at the closing of the Producers Bank, than ever shown at a bank failure in Wilson. The people have the utmost confidence in the directors and of ficers of the defunct bank and feel certain that there was nothing questionable at all in its failure. Frank and Will Ward, principle stockholders in the bank have made statements similar to the one made by Ambrose Ward, and further stated that the bank would be reopened as soon as possible. This is the third bank to be closed in Wilson W thin the last three years.