gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a79375b1f67078f3
Response Measures
None
Events (3)
1.May 7, 1925Suspension
Cause
Local Banks
Cause Details
Closed by state commissioner as a precaution after the Hugo National Bank failed to open following Federal Reserve refusal to handle paper tied to a merged First National bank
Newspaper Excerpt
The Hugo State Bank was closed today by O. B. Mothersead, state bank commissioner, as precaution against a run
Source
newspapers
2.May 28, 1925Other
Newspaper Excerpt
The Hugo National bank and the Hugo State bank, unable to liquidate old cotton loans, ... closed May (reporting the city's banks were all closed and heavy withdrawals occurred around this date).
Source
newspapers
3.July 12, 1925Reopening
Newspaper Excerpt
BANK REOPENS ... the Hugo State bank ... very few withdrawals today and deposits were received
Source
newspapers
Newspaper Articles (11)
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 Guthrie Daily LeaderGuthrie, OK
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Article Text
East Side Sufters Big Bank Failure
Hugo, May Hugo bonk failed to open for business The State bank and west here were eYised by orde missioner, in connection closing of the Institution Blames Federal Reserve Bank Officials of the National bank tributed their difficulties to the freat the Federal Reserve bank Dallas handle paper of the National bank which merged with the Hugo National bank two years ago Depositors in the TWO closed banks include number the leading business concerns of the city. The closing unexpected.
5.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
6.May 8, 1925Blackwell Journal-TribuneBlackwell, OK
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Article Text
Two Hugo Banks Close Their Doors
Okla., May Hugo National bank failed to open for business here The Hugo State Bank and the Liberty State Bank of Soper, town west of here closed by order of B. Mothersead in connection with the closing of the national institution. The Hugo State Bank was closed by O. B. Mothersead, state bank commissioner, as precaution against run, he said. The bank with the Hugo National Bank which failed to open had grounds close the has not failed, Mothersead said "The bank had fficient ordered it closed precaution, Mothersead said the Liberty State Bank of Soper, which he also ordered closed today, has same directorate as the Hugo National Officials the national bank attributed their difficulties the refusal the federal reserve bank at Dallas to handle paper the First National Bank, which merged the Hugo National Bank two The City National Bank of Hugo business today as It was said that had sufficient cash to pay off all depositors if Depositors in the two closed banks include number of the leading business concerns of the city, The closing was unexpected.
7.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
8.May 28, 1925Daily SentinelRome, NY
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Article Text
Business Hit Closing By Bank in Town of Only
Hugo, Okla., May town of 6,000 inhabitants today bank. sign on the door of without City National Bank informed the the yesterday that "for the protecpublic tion the depositors," the bank open. Business was standstill today only money pockand registers. Many persons attended baseball game yesterday, others played went fishing. their Lional Bank and the Hugo State closed May Both banks were unold loans. City Bank with capital and and came safely through the financial
Saturday depositors began from the City Na tional Bank, although there Officials of the bank asked for help available dollar leading every business men placed on deposit. neighboring cities additional funds brought little
9.May 28, 1925El Paso TimesEl Paso, TX
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Article Text
LAST HUGO, OKLA., BANK IS CLOSED
Citizens Have Only Money in Pockets and Cash Registers for Business. izens of Hugo were attempting tonight to find way out of the financial difficulties that resulted today in the closing of the third and last bank in the city. The City National bank surrendered after hard fight and sign on closed doors today informed the public it was not open for business. Industry of all kinds in the city virtually stopped when business men were left with only the money in their cash registers and their pockets, on which to operate. Only two banks operating in Choctaw county, small state at Fort Towson and Boswell The Hugo National bank and the Hugo State bank, unable to liquidate old cotton loans, despite bumper crop last year, closed May The Soper State bank at the nearby town of Soper, with the same directors as the Hugo National, was closed the same day, by order of O. B. Mothersead, state bank commissioner. Possibility of merging the assets of the three Hugo banks into one large institution being discussed by local business men. Under this plan, was proposed that depositors of each bank should accept proportionate losses. Heavy withdrawals during the last three days were attributed as the cause of the City National bank's closing to day, by W. S. B. Leonard, president, in & statement issued this afternoon. While there was no direct run on the bank. it was said that depositors were going to nearby cities and isuing checks on their Clearance such checks yesterday alone amounted to total of approximately $9,000. The bank could have continued operation borrowed money, Leonard declared, but the board of directors not wish to assume the appearance of dissipating their assets.
10.May 28, 1925Shawnee News-StarShawnee, OK
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Article Text
BUSINESS FACED WITH CRISIS UNDER NEW DISASTER
Only Two Small Banks Remain Open For Business In Choctaw Three Other Banks Closed In The County Early In This Month.
LARGEST CITY ANYWHERE IN NATION WITHOUT BANK
Heavy Withdrawals Due To Panic Over Other Bank Failures Assigned As Cause Of Crash; Many Checks Received For Clearance.
Press) tonight the financial difficulties that resulted today of the third and bank the city The City National Bank surrenafter fight and its closed doors today formed the public not open Industry all kinds in the stopped business the their registers and pockets which Only two banks are operating Choctaw small institutions Fort and Boswell The Hugo National bank and the Hugo State bank. unable liquidate cotton loans spite bumper crop last year closed The Soper State bank nearby of Soper, the same Hugo National closed the same day order of Mothersead, state banking commission-
May Salvage Banks Possibility merging the three Hugo banks large institution being by local business Under plan, was proposed that depositors of each bank should accept proportionate losses, Heavy during the the National bank closing today by Leonard, president, statement issued afternoon While there direct the bank that depositors went cities and issued their The bank could but the board did not appearance dissipattheir Deposits in the shown issued April The showed that the capital and surplus and cash hand on Dodds the the comptroller the here in federal court today that Hugo far as he largest the about
11.July 12, 1925Morning ExaminerBartlesville, OK
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Article Text
Three County Women Go To Judging School school women of county
BANK REOPENS
The National received bank Liberty State the Hugo Hugo State bank The of and a surplus capital larger be The very few vithdrawals today and deposits were received it to Cleaning it of Phone and
HEADS BAPTIST NION INDIANAPOLIS. July Singleton, private secretary packer, Saturday in convention here. Singleton, opposed the succe:
SHOWERS FALL IN STATE Scattered showers throughout the west and central sections of the tate last Saturday, promised temporary relief from the intense heat the past week and broke a drouth of considerable duration. The rainfall here was accomp anied by lightning which interrupt ed electric light to Norman few minutes when lightning struck a line No further dam reported At Enid the mercury fell 28 de grees in less than an hour, declin ing to 72 degrees The rainfall there continued for more than two hours. Light showers were also report water and Fairview
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.
