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Short Digest
9054f881deff1c19
Response Measures
None
Description
The bank was closed by the state commissioner as a precaution following the failure of the Hugo National Bank, which shared the same directorate.
Events (1)
1.May 7, 1925Suspension
Cause
Local Banks
Cause Details
Closed by the state commissioner as a precaution because it shared the same directorate as the failed Hugo National Bank.
Newspaper Excerpt
The Hugo State Bank and the Liberty State Bank of Soper, a town west of here were closed by order of 0. B. Mothersead, state bank commissioner in connection with the closing of the national institution.
Source
newspapers
Newspaper Articles (10)
1.May 7, 1925Henryetta Daily Free-LanceHenryetta, OK
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Article Text
HUGO BANKS CLOSED TODAY
By Associated HUGO, May Hugo Nation. al banks failed to open for business today. The Hugo State Bank and the Liberty State Bank of: Soper, a town west of here were closed by order of 0. B. Mothersead, state bank commissioner in connection with the closing of the national institution. Officials of the national bank attributed their difficulties to the refusal of the federal bank at Dallas to handle paper of the First National bank which merged with the Hugo National bank two years ago. Depositors/in the two closed banks include a number of the leading bus iness concerns of the city, The closing was unexpected.
OKLAHOMA May The Hugo Satte bank was closed today by O. B. Mothersead, state bank commissioner, as a precaution against a run, he said. The bank has no connection with the Hugo National bank which failed to open this morning. "While Dhad ground to close the state bank, it has not failed,' Mothersead said. "The bank had insufficient reserve cash to withstand a run and ordered it closed precaution." Mothersead said the Liberty State bank of Soper, which Be also ordered closed today, has the same directorate as the Hugo National.
2.May 7, 1925Bartlesville Examiner-EnterpriseBartlesville, OK
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Article Text
State Bank Commissioner Orders Hugo State Bank and Liberty Bank at Soper Closed Today
HUGO, Okla., May Hugo National Bank failed to open for business here today. The Hugo State Bank and the Liberty State Bank Sopher, town west of were closed by order of Mothersead in connection with the closing of the national institution. Officials of the national bank attributed their difficulties to the refusal the federal reserve bank Dallas to handle paper of the First National bank, which merged with the Hugo National bank years The City National transacted business today It was said that had sufficient cash to pay all depositors necessary. Depositors the two closed banks include number of leading concerns of the city. The closing was unexpected.
OKLAHOMA CITY. May Hugo State Bank was closed today Mothersead, state bank commissioner. precaution against run. The bank has no connection with the Hugo National Bank, which failed open this morning "While had grounds to close the State bank. It has not failed." Mothersead said. "The bank had insufficient reserve cash withstand and ordered closed precaution Mothersead said the Liberty State Bank of Sopher which he also ordered closed today, has the same directorate the Hugo National
3.May 7, 1925The Daily ArdmoreiteArdmore, OK
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Article Text
NATIONAL BRINGS BANKS TO RUIN
Fails to Open Doors and As Result Hugo State and Liberty Banks are Ordered Closed.
FEDERAL RESERVE REFUSES PAPER
Banks Reported Closed as Precaution Against Threatened Run.
Hugo National bank failed to open for business Thursday. The Hugo State bank and the Liberty State bank of Sopher, town west of here, were closed by order of Oscar Mothersead, state bank commissioner, in connection with the closing of the national institution. Officials of the bank attributed their difficulties to the fusal of the federal bank at Dallas to handle of paper the First Na. tional bank which merged with the Hugo National bank two years ago. Depositors in the two closed banks include number of the leading ness concerns the The closing unexpected.
To Prevent Run OKLAHOMA Hugo State closed Thursday by order Mothersead as caution against run he bank had connection with the Hugo National bank which failed open this While had ground to close the state bank it had not Mothersead "The bank has insufficient cash to withstand run and ordered closed Mothersead Mothersead said the Liberty State of Sopher ordered closed on the same ground as the Hugo National
4.May 7, 1925The M'Alester News-CapitalMcAlester, OK
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Article Text
THREE BANKS ARE CLOSED: NATIONAL OF HUG0 IS CAUSE
HUGO, Hugo National bank failed to open for business day. The Hugo state bank and the Liberty State Bank of Sopher, town west of here, were closed by order of Mothersead pection with the closing of tional Officials of the national bank tributed their difficulties the fusal the federal reserve bank Dallas to handle paper First National bank. which merged with the Hugo National bank two years ago. The City National bank Hugo transacted business today usual. that ficient cash to pay off all depositors necessary Depositors in the two closed banks include number the leading business concerns of the city, The closing was unexpected.
Run Was Expected Hugo State bank was closed today by Mothersead, state bank comagainst run, he said. The with the Hugo National Bank, which failed to open this morning. had grounds to close the state bank, it has not failed, Mothersead said "The bank had insufficient reserve eash to with stand run, and ordered it closed as precaution. Mothersead said the Liberty State bank of Sopher, which he also dered closed today. has the same directorate as the Hugo national
5.May 7, 1925The Guthrie Daily LeaderGuthrie, OK
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Article Text
STATE BANK SAVES SMALLER BANK
Oklahoma City, May The bank Wash closed day by state bank The bank has no connection with the Hugo National bank which failed to open this morning have grounds close the state bank has bank had Insufficient reserve cash to withstand run and ordered closed as precention." Mothersond said. The Liberty Sto bank of Sopher, which he also ordered closhas the directorate the Hugo National,
6.May 7, 1925Muskogee Times-DemocratMuskogee, OK
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Article Text
Two Hugo Banks Ordered Closed; One Act As Precaution Against Run
CLOSING ACTION IS SOPER INCLUDED
Hugo National Fails to Open for Business and Mothersead Orders Others Closed
Associated Press Hugo bank failed for busiThe Hugo State ness bank and the Liberty State bank of Soper, town here. closed by connection with the closing of the national Officials the national bank tributed difficulties to the the federal bank fusal Dallas paper the First the National Hugo bank The City National bank of Hugo usual It said that had sufficient cash all necessary pay the two closed banks Depositors include number of the leading busiconcerns the city. The closing unexpected
CLOSED AS PRECAUTION AGAINST "RUN" May 7.-The Hugo State bank closed today by he said. against connection with the bank has no National which to Hugo this morning the had had insufficient run. and ordered precaution. the Liberty State which he also ordered bank has same directorate today, as the Hugo
7.May 7, 1925The Ada Evening NewsAda, OK
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Article Text
State Bank Closed As caution Against Run
(By the Associated Press) HUGO, May Hugo National bank failed to open for ness today. The Hugo State bank and the Liberty State bank of Soper, town west of here, were closed by order of Mothersead, state bank commissioner, in connection with the closing of the national institution. Officials of the national bank tributed their difficulties the fusal of the Federal Reserve bank Dallas to handle paper of the First National bank, which merged with the Hugo National bank two years Depositors in the two closed banks included number the leading business concerns in the city. The closing was unexpected.
OKLAHOMA CITY, May Hugo State bank was closed today by Mothersead, state bank commissioner, as precaution run, he said. The bank against has connection with the Hugo National bank which failed to open this morning. "While had grounds to close the state bank has not failed,' Mothersead said. bank had insufficient reserve cash to withstand and ordered closed precaution. Mothersead said the Liberty State bank of Soper, which he also orderclosed today, has the same rectorate as the Hugo National.
8.May 8, 1925St. Joseph GazetteSt. Joseph, MO
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Article Text
THREE OKLAHOMA BANKS CLOSED
One Fails to Open and 2 Others Closed by State
National bank here failed to open for business today. The Hugo State bank and the Liberty State bank of Soper, town west of here. were closed by order of O. B. Mothersead, tion with the closing of the national Officials of the national bank attributed their difficulties to the refusal of the Federal Reserve bank at Dallas to handle paper of the First National bank. which merged with the Hugo National bank two years ago,
Oklahoma City, Okla., May 7.The Hugo State bank was closed today by O. B. Mothersead, state bank commissioner, precaution against a run. he said. The bank
9.May 8, 1925The Parsons Daily SunParsons, KS
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Article Text
To Avoid Run On Bank
OKLAHOMA CITY. Okla., May The Hugo State Bank was closed today by O. B Mothersead. sinte bank commissioner, as precaution against a run, he said The bank has no connection with the Hugo National Bank which failed to open this morning Mothersead said the Liberty State Bank. of Soper. which he also ordered closed today. has the
10.May 8, 1925Miami News-RecordMiami, OK
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Article Text
BANKS CLOSED
Action Taken to Avert Run After One Bank Also Affected.
HUGO, Okla., May, Hugo National bank failed to open for business here today. The Hugo State bank and the Liberty State bank of Soper, town west of here, were closed by order of O. B. Mothersead in connection with the closing of the national institution. Officials of the National bank attributed their difficulties to the fusal of the federal reserve bank at Dallas to handle paper of the First National bank, which merged with the Hugo National bank two years ago. The City National bank of Hugo transacted business today as usual. It was said that it had sufficient cash to pay off all depositors if necessary. Depositors in the two closed banks include a number of the leading business concerns of the city. The closing was unexpected.
OKLAHOMA CITY, May 7.-The Hugo State bank was closed today by O. B. Mothersead, state bank commissioner, as a precaution against a run, he said. The bank has no connection with the Hugo National bank, which failed to open this morning. "While had grounds to close the state bank, it has not failed," Mothersead said. "The bank had insufficient reserve cash to withstand a run and ordered it closed as a precaution. Mothersead said the Liberty State Bank of Soper, which he also ordered closed today, has the same directorate as the Hugo National.
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