First National Bank (Ponca City, OK)

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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)

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Lone Wolf Open But Just 'Changing'; Others Closed

CITY. Mar. Extension of Oklahoma's bank day until Wednesday was recommended today by Bank Commiss sioner J. Barnett as the state government placed legislative and executive protection over the 453 Oklahoma banks and their depositors. The first flurry of excitement over, following Gov. W. H. Murray's three-day bank moratorium proclamation, state officials pared new stabilizing bill. Assurance of safety both banks and depositors was the keynote of the situation in Oklahoma. The unusual spectacle of such great confidennce is local banks that the institutions remained open today in the face of heavy demands occasioned by the state wide holiday was enacted at Idabel, Durant, Enid, Valliant and Alva. Bankers in these communities declared their situations so sound they saw no need of inconveniencing depositors. The redrafted bill authorizing the bank commissioner to banks under a plan of restricwithdrawals was being drawn up.

The senate was prepared to suspend all other and send bill through its first stage. Preparing for immediate action, Speaker Tom Anglin called the house into session this morning without waiting for the scheduled m. meeting time. The bank holiday was declared, Murray explained, to give the islature time to enact lieve the proposed bill the bank commissioner sweeping power delay payment of deposits all banks, trust companies, savings banks and segregate deposits from old deposits, with no restriction on the new deposits. The bank virtual dictator over financial stitutions with emergency author needed rules and ity to adopt any daily reports. require

SIXTEEN STATES HOLIDAYS TODAY BANK to restrict with. The movement of bank deposits spread drawals rapidly through the south and west last night and today states operated under decrees for bank holidays. CaliforMississippi, Oklahoma, nia, Arizona, Nevada and Oregon ordered brief bank holidays to give time for legislatures to draw withdrawals legislation limiting deposits. Louisiana went farther by orderholiday for all iness. The New Orleans cotton cotton market change, largest was closed. the country, Executives announcing the new holidays for forcing the other states restructions by placing tension of banks which unusual strain on an to continue business sought mally.

ONE BANK IN ONLY STAYS OPEN COUNTY The First National bank at Lone Wolf was the only banking tution in Kiowa county which mained open today, and was just "making change," according made by the Demosurvey Banks here, at Mountain Cooperton, Mountain View and Snyder were all closed, was the one at Rocky.

OREGON TOO

Ore., Mar. Governor Meier today declared three-day legal holiday state Oregon starting continuing through

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The First National Bank At Ponca City

ONCA CITY has a new bank. it is the First National and P it is the outgrowth of the old First National Bank of Ponca City. The new bank got away for a flying start during the closing days of the old year. Before the week was up they were called upon for the regular statement as of December 30th, 1933, and were able to show deposits of $730,203.94. The Bank is capitalised with $100,000, $50,000 Preferred and $50,000 Common, with a surplus of $10,000, which give it total assets on December 30th of $840,203.94.

Here, in brief, is what each depositor of the old First National bank did to obtain 60 per cent of the funds he had on deposit when the bank was restricted:

First, be went to the office of F. M. Overstreet, conservator, and filed a claim for the funds on deposit.

Second, the deL D. EDGINGTON positor was given by Overstreet an order on the new bank for 60 per cent of his deposit. (It is assumed 5 per cent previously was drawn, when made available.) Third, the depositor took the above order to the bank and received a duplicate deposit slip as in any ordinary deposit. The funds thus on deposit were immediately available in cash or for checking purposes.

Bank, Pawhuska, and Conservator for the old First National Bank of Ponca City. In September, 1933, he was appointed Receiver for the Billings National Bank at Billings, Oklahoma. Thus, at one time, he was Conservator for one bank and Receiver for three others. Early in December he was relieved of the receivership of these three banks, and was thus in a position to accept the cashiership of the new First National ank of Pones City. While he has been elected cashier he will not become active until he has severed his connection with the Comptroller's office and the conservatorship of the old bank has been completed. Walter Harp has been elected as Assistant Cashier. He received his first banking experience in Oklahoma City soon after finishing high school at Newkirk, Oklahoma in 1916. He was employed by the Security National Bank as Assistant Chief Clerk until the spring of 1918. Answering the call to arms he served his country in France for over a year, returning to Tulsa, Oklahoma. He was elected Assistant Cashier of the Central National Bank, and remained in the service of that institution until 1929, when he was elected Assistant Cashier of the Central State Bank of Tulsa, later consolidated with the National Bank of Tulsa, remaining in the employ of that bank until he accepted his present position.

The President of the Bank, is L. D. Edgington. Mr. Edgington has been in the banking business in Oklahoma for many years. He served as the President of the National Bank of Hominy for the past twenty-seven years, and still retains his interest in that bank, and while he retains the presidency of the bank at Hominy the active management will be in other hands as he expects to devote his entire time and attention to the First National Bank of Ponca City. The Cashier, F. M. Overstreet, has been engaged in the banking business in Oklahoma for the past twenty-five years. Meet of this time at Cherokee, Oklahoma. in March, 1932 he accepted a position with the Comptroller of Currency as Receiver for the First National Bank of Fairfax, Oklahoma. In March, 1983, be was appolated Receiver for the Liberty National

The Directors of the First National are as follows:

S. A. Dellaplain D. W. Kygar R. E. Onstot Eugene Witsel L D. Edgington. 0