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Oklahoma Bank Closed. Enid, Okla., April 20.-The Citizens Bank, one of the largest here, closed its doors today and a receiver will take charge. William Kennedy, the President, who returned today from Kansas City. said he believed that every cent of llabilities would be paid in full. -The fallure was caused by slow collections and Inability to raise ready money. No state. ment was issued. The bank was established in 1893.
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Denton Named as Receiver. Enid, May 3.-Robert Denton was appointed receiver for the defunct Citizens' bank this afternoon by Judge Beauchamp Mr. Denton has taken charge of the affairs of the bank and will shortly issue a statement of the bank's contention. Three men sought the place, but the court appointed Denton. He is only 26 years of age.
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approves the nomination of Judge Parker for President. Cashier and Assistant Arrested. Enid, Okla., May 23.-H. H. Walker, cashier, and W. H. Dugan, assistant cashier of the defunct Citizens Bank of this city, were arrasted today on warrants issued by County Attorney Sturges, on the charge of receiving money for deposit in the bank when they knew that the institution was in a failing condition. The wrecked bank is in the hands of a receiver.
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CONDITIONS ARE IMPROVING. Receiver Finds Additional Assets that Are Available. Enid, O. T., May 28.-Assets of the Citizens bank are turning out daily, some coming from places not on record, and the conditions are improving under the efforts of Receiver Denton, says the Eagle. Yesterday he made a trip out of townno matter where-and returned with $21,843, which was considerable of a "find" as that amount of money was added to the known assets, for the fist time yesterday. Up to now the receiver has deposited $56,000 of the bank's assets in the Bank of Enid. This is 25 per cent of the entire deposits. The find yesterday amounted to 10 per cent of the deposits. If there is any chance for the bank reorganizing, it is 'with the receiver. If he can collect the assets of the bank the bank can then open without trouble. With the assets tied up by individual depositors to secure their deposits it is impossible to collect or settle them and turn the money into the bank. There is no question but that the United States Fidelity and Guaranty company wanted to locate some of the assets of the bank in order to protect the loss sustained by the company in protecting the county's deposits. Receiver Denton's action in refusing, and Judge Beauchamp's action in sustaining the refusal, are generally commended. The depositors are all entitled to equal rights in the settlement of the bank's affairs, and the discrimination asked would not be following a policy that is justice to the other individuals interested.
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BANK RELEASED PAPER. Receiver of the Citizens Bank at Enid Working for Depositors. Enid, 0. T., May 11-The Eagle says: Attorney J. M. Dodson, representing Recelver Denton, has returned from WichIts, where be had been in the interest of the depositors of the Citizens bank. While there he got the bank that attached $12,000 worth of paper and securities belonging to the Citizens bank to release the paper and allow It to go into the general fund of the bank. Mr. Dodsen will make a trip to Kansas City shortly and negotiate with the courts there for the release of $4.000 held there by attachments gotten out by local positors in the defunct bank.
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# BANK OFFICIALS ARRESTED. Wrecked Oklahoma Institution is in Receiver's Hands. N. H. Watkins, cashier, and W. H. Dugan, asisstant cashier, of the defunct Citizens' bank, of Enid, Okla., have been arrested on warrants issued by County Atorney Sturges on the charge of receiving money for deposit in the bank when they knew that the institution was in a failing condition. The wrecked bank is in the hands of a receiver, and no statement of the bank's condition has been given to the public. All attempts to reorganize the bank have failed, it being estimated that it will require $200,000 to put the bank into business shape.
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MUCH MONEY MISSING. Ten Thousand Dollars Disappears From Assets of Enid Bank. The statement is made today that the receiver of the defunct Citizens' bank of Enid has missed $10,000 additional of the bank's assets and is making a still hunt to recover them. It is understood, too, that suspicion lies in several quarters and that a surprise, equal to that which came out when the $21,000 assets were located in the possession of the late assistant bank commissioner may be anticipated. Receiver Denton is proving the right man in places. He has done much already toward bringing in the entire assets of the banks, and further developments may be expected from his investigations. Governor Ferguson is in Shawnee, ostensibly to make a Chautauqua speech, but also it is said to interview Bank Commissioner Paul F. Cooper further relative to the conditions of the defunct bank. Some time ago, during last week, the gor. ernor made the statement that Cooper's resignation would be accepted within two minutes after being tendered, but so far as known coper has not yet resigned. Relative to the 1 atters adition of the bank's assets, is believed that the governor, when stating that Coopers resignation would be accepted, meant that he held the conmissioner or his assistant responsible, to a certain extent at least, for the bank's condition, charging them with carelessness or negligence.
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CITIZENS BANK STATEMENT. Lengthy Document Setting Forth Condition of Defunct Bank Issued. | Receiver Robert L. Denton of Enid. has made public a statement setting forth the condition of the defunct Citizens' bank. The report sets forth in facts and figures in detail, all the resources and liabilities of the bank, and is quite a length document. According to the report, which names the debtors of the bank and the amount of the note owed by each, the total assets amount to $239,251.10. The total liabilities are: Deposits, $184,377.19; certificates of deposit, $13,536.74; due to banks, $18,631.60; outstanding drafts, $15,635.05; bins payable, $25,276.88; total, $257,446.88. The statement was issued in response to a strong public sentiment
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Serious Charges. James K. Beauchamp, who used to reside here, is charged with corruption in his office in the Fifth Judicial district of Oklahama. The telegram from Enid, dated July 20, says, "Charges against Associate Judge Beauchamp, of the Fifth Judicial district of Oklahoma, have been filed with the department of Interior at Washington in connection with Beauchamp having appointed a receiver for the Citizen's bank of this place which failed Aprli 29." It is illeged that the judge had a loan of about $6,000 from that bank and had no authority in appointing Robert Denton, who is Beauchamp's intended son-in-law, as receiver for the same. There are said to be several charges in connection with the above bank, which have not yet been made public. It is also illeged that several office holders here under Beauchamp have been compelled to contribute monthly and otherwise to Judge Beauchamp in order to hold their positions. The charges are being sent to Washington by the depositors of the defunct bank.-Liberal News.
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CHARGES AGAINST BEAUCHAMP Enid Bank Failure Causes More Trouble for Officials ENID: Charges against Associate Judge Beauchamp of the Fifth judicial distirct of Oklahoma have been filed with the department of the interior at Washington in connection with Beauchamp's having appointed a receiver for the Citizens' bank of this place, which failed April 20. It is alleged that the judge had a loan of about $6,000 from the bank and had no authority in appointing Robert Denton, who is Beauchamp's intended son-inlaw, as reciver for the same. There are said to be several charges in connection with the above bank which has not yet been made public.
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ANOTHER SUIT. Papers Filed in United States Court For Claim of $11,266 79. | Enid, Okla., Aug. 19.-Suit in the United States dis rict court in and for Garfield county, has been filed by the Enid Mill & Elevator company against Wm. Kennedy, H. H Watkins and N. C. Wathins. The amount claimed is $11,266.79 alleged to be due to plaintiffs on account of deposits in the Citizens bank at the time it suspended, April 20, 1904.
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Why Do Banks Fail? Every bank failure that has occured in Oklahoma in the past two years could have been prevented had the proper examination been made as contemplated under the laws now in force. The utter ruin of several good men the serious financial crippling of hundreds more, and a general lack of confidence in all banks has been the price of penurious economy on the part of the territory in conducting the bank examiner's office. Every bank should be examined by a competent man at least twice a year and four times a year would be better. Had this been done, neither the Capital National at Guthrie, the Citizens Bank at Enid, the Bank of Beaver City, or any other bank in Oklahoma would have failed. All failed from causes which, if known in time, would have been remedied. Both the Citizens Bank and the Capital National failed because they were run along political instead of business lines. Had a competent man examined them before the abuses and irregularities responsible for their downfall had gone too far, he would have called a halt, and no depositor would have lost anything. As for the Bank of Beaver City, we are informed that less than ten per cent of its capital stock was ever paid in, and that soon after its organization the president "borrowed" $14,000 from it on his personal note, without security This condition would have been known, and remedied in time, had proper examinations been made. The bank examiner must not be blamed too strongly for these conditions, for there is four times as much work to do as it is possible for him to attend to with his present force. The safety and solidity of banking institu. tions is absolutely necessary, not only to the general welfare, but for the ordinary daily transactions of business. Banks are useful in two ways, principally, to take care of other people's money, and to loan money on proper security. The safety of the depositor's interests is the first and all-important point, and those bankers who keep this in view seldom or never get into trouble. It is the fellows who are too Joose in the matter of loans, or who engage in wildeat speculation. that cause the trouble. Comparatively few banks are wreased by straight robbery such as the officials absconding with the depositor's money. In almost every instance wherein a banker has departed with a satchel full of money it proved to be only the last net of wrecking the institution; that the record for months back was bad, and that a careful examination at the proper time would have disclosed the true state of affairs and provented a serious loss. Probably no banker in this country ever intended at the outset to wree his bank. It almost invariably takes months of bad management or misplacing of funds to do the work, and during these months is the time to defeet the real conditions. and stop the drift toward failure, This can b done by an eff etive sy stem of exam-
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FIFTH DISTRICT JUDGE DESIRES TO MAKE MOVE WOULD CHANGE DISTRICTS Fight on Him Has Grown too Bitter to Stand. Enid, Dec. 6. If it is possible to so arrange it, Judge James K. Beauchamp of this place, presiding over the Fifth judicial district, which embraces Garfield county, of which Enid is the county seat and the judge's home, a trade will be made whereby one of the other Oklahoma Judges will take the county in exchange for another county. The fight made on Judge Beauchamp by his personal and political enemies has caused him to wish to leave this city and county, and he is making every effort to get into a new location. During the past two years Judge Beauchamp has been continuously under fire, attacks being made upon his career in private and pulife, and while each time he has been able to defeat his enemies, it has harassed him until he feels a change is the only thing that will save him. Chargesinst Judge Beauchamp were filed with the department of justice at Wasisington two years ago, which were investigated by agents sent to the territory. Up to the day, Judge Beauchamp has never heard from them, and he has reason to believe the charges were put in the waste basket. Shortly after these charges were filed, the Citizens bank failed. In his private affairs the judge had been transacting muclt business with this institution, and had drawn on it for large sums-in some instances greater than the banking laws of the territory permitted-and this caused additional trouble, for it was necessary to appoint a receiver, and this receiver must make public reports of the bank's condition. It was shown in these reporta that large loans had been made to the judge, but at the time of the failure he was not in debt to the wrecked Institution. Judge Beauchamp named as receiver for the bank, young Robert L. Denton, a son of his former law partner, which caused a great stir in political circles and created a storm of protest from the angry depositors of the bank. More charges were prepared and sent to Washington, which added to the judge's discomfort. And on top of all this, Denton, the receiver of the bank, fell in love with the judge's daughter and in course of time, married her. This gave the enemies of the judge more "thunder," and they played it for all it was worth. Newspapers opposed to the judge called nd him all sorts of names, one editor, J. L. as, Isenburg, going so far as to finally subject himself to arrest under the criminal libel laws. Judge Beauchamp took the bench he now occupies after serving Garfield county a term as probate judge, and just now his records as a county official are under fire. Charles J. West, who would step into the shoes the judge wears if there is a vacancy in the office and it were possible to secure the appointment, acting as assistant county attorney, is behind a suit against Judge Beaucharap to collect money alleged to be due the county collected while Beauchamp was in office. This suit makes it rather difficult for Judge Beauchamp to hold the dignity necessary in his official capacity and is causing him much trouble. The enemies of Judge Beauchamp have spared nelther the judge nor his family. When Denton, the bank receiver, married Miss Beauchamp, Isenburg's paper, the Enid Wave, reported the event in a humorous way, bringing in the story of the bank failure, the receiver and the judge, holding them up to the ridicule of the friends of the paper, who were naturally enemies of the persons taking part in the marriage event. The Wave calls Judge Beauchamp "bigjim," using the judge's first name. The article about the wedding bore the heading: "His Chances Doubled; Handsome Bobby Is Given Another Turn at the Wheel of Fortune." In part, the article said: "Oh, young Robert L. is come up in the west, In all the wide prairie his job was the best, For his wage is determined by the great court alone Which made him receiver and then the court's son. "Young Lochinvar has been quite outdone except that perhaps as far as known there seems to have been no resistance to the match. "Last evening while the blue sky took on its dreamtest appearance until it seemed as if an endless mantle beaded with diamonds had been hung between earth and heaven, the widely advertised silver anniversary was pulled off at bigjim's. As previously announced with detailed program, the anniversary affair was made the occasion of baptizing Bob into actual membership in the family, after a year's probation in the office of bank receiver. A large number witnessed the splemnization of this most happy event witich places forever the legzi seal upon financial transactions that have heretofore been conducted on a basis of friendly confidence only. "To again quote Sir Walter Scott is this wedding: "A chain of gold bigjim unstrung: It's licks 'round Robert's neck he flung Then gently drew the gilttering bang And clasped it round his daughter' hand. "The assembled multitude applaude and tried to eat enough ice cream an cake to pay for the silverware donated "There were just loads carionds-o presents, nearly all s'iver. Some wer single plate, some triple plate, and som for tinplate, and some looked like irona depending upon the official position o the giver. Corporation agents and railroad attorneys sent cut glass and soll silver articles.
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PERSONAL MENTION Nathan Razey is here today from Enid. Fred A. Arlon is in the city today from Enid. Lea Lohr is here today from Cleveland on business. Attorney Robert A. Lowery ls in town today from Stillwater. Mr. and Mrs. J. E. Stone were here from Perry over Sunday. Dr. Fred S. Selds was here from Perry over Sunday visiting friends. S. A., Williams, R. D. Smith and J. L. Johnson are here from Marshall, Professor Lowden left this morning for Prague after a pleasant visit with Rev. Ira L. Holbrook. | Attorney J. W. Scothorn returned yesterday from Pawnee, where he has been attending court. | Chancellor Bradford. of Epworth university, at klahoma City, was here this morning. on business. Attorney and Mrs. S. L. McGee, of Pittsburg, Pa., are here this week. Mr. McGee wil probably locate in Guthrie. I Lee Bernstein is here today from Oklahoma City and will remain-two or three days looking after business interests. I Judge Hainer. Deputy Marshals Van Abernathy and J. M. Jacobson and Ballift Roger Merrill went to Pawnee this morning. I Robert Denton, receiver of the defunct Citizens bank at Enid. returned home today after having been here several days on business.