Other: Directors voted to close the bank; Comptroller appointed a receiver.
Receivership Details
Depositor recovery rate
100.0%
Date receivership started
1930-03-29
Date receivership terminated
1933-09-18
Share of assets assessed as good
49.2%
Share of assets assessed as doubtful
31.7%
Share of assets assessed as worthless
19.1%
Description
Articles report a series of withdrawals after malicious rumors that caused the directors to close the bank March 22, 1930. Comptroller-appointed receiver Irving Page took over March 31, 1930. No reopening is indicated; later sale of the bank building by the receiver confirms permanent closure.
Events (5)
1.September 17, 1920Chartered
Source
historical_nic
2.March 22, 1930Run
Cause
Rumor Or Misinformation
Cause Details
Series of withdrawals following circulation of malicious rumors about the bank's condition.
Measures
Directors voted to close the bank; bank was closed by directors on March 22, 1930.
Newspaper Excerpt
The Central National Bank of Bartlesville was closed today by its directors. ... Cannon attributed the closing to withdrawals following the circulation of malicious rumors concerning the bank's condition.
Source
newspapers
3.March 22, 1930Suspension
Cause
Rumor Or Misinformation
Cause Details
Directors closed the bank after heavy withdrawals caused by malicious rumors.
Newspaper Excerpt
The Central National Bank of Bartlesville was closed today by its directors.
Source
newspapers
4.March 29, 1930Receivership
Source
historical_nic
5.March 31, 1930Receivership
Newspaper Excerpt
Irving Page of Oklahoma City has been appointed by the Comptroller's office in Washington as receiver for the Central National Bank which closed its doors March 22 by vote of the directors. Page took over the affairs of the bank Monday.
Source
newspapers
Newspaper Articles (8)
1.March 23, 1930Evening StarWashington, DC
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Article Text
SERIES OF WITHDRAWALS CLOSES OKLAHOMA BANK President Says Directors See Little or No Loss to Depositors in His Institution. By the Associated Press. BARTLESVILLE, Okla., March 22.The Central National Bank of Bartlesville was closed today by its directors. Howard D. Cannon, president, said in the opinion of the directors there would be "little or no loss to depositors after the stockholders have been assessed for double liability on their stock." In its last report the bank showed deposits of $834,002; capital, $100,000, and surplus, $25,000. Cannon attributed the closing to withdrawals following the circulation of malicious rumors concerning the bank's condition. L. K. Roberts, chief national bank examiner for the tenth reserve district, said inability to meet competition from two older and larger banking institutions was responsible for the failure.
BARTLESVILLE BANK RECEIVER APPOINTED
BARTI Okla.. March 31. Irving Page of Oklahoma City has been appointed by the Comptroller's office in Washington as for the Central National Bank which closed its doors March'22 by a vote of the directors. Page took over the affairs of the bank Monday He said a statement as to the condition of the institution would be available in about two weeks.
BARTLESVILLE BANK RECEIVER APPOINTED
Irving Page of Oklahoma City has been appointed by the Comptroller's office in Washington as receiver for the Central National Bank which closed its doors March 22 by vote of the directors. Page took over the affairs of the bank Monday He said a statement as to the condition of the institution would be available in about two weeks
4.April 1, 1930Tulsa WorldTulsa, OK
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Article Text
BANK RECEIVER NAMED
Irving Page Appointed for Central National at Bartlesville.
BARTLESVILLE March 31 (A )-Irving Page of Oklahoma City has been appointed by the comp. troller's office in Washington RS receiver for the Central National bank closed its doors March 22. by vote of the directors. Page. who for the last 10 or 13 years has been engaged in receivership work, arrived in Bartlesville last night and took over the affairs of the bank today. The bank W&S opened this morning by Page, who said statement as to the condition of the Institution would be available in about two weeks.
5.October 8, 1931Bartlesville Examiner-EnterpriseBartlesville, OK
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Article Text
RESIGNS
Jeff H. Hooker. Dallas, Texas, Named Receiver for Central National National and Four Others
Jeff H. Hooker of Dallas Texas has been named receiver for Central National bank well receiver for four other banks cated in this state, Kansas and Ar kansas. He succeeds Irving Page. resigned the first of the month to accept position manager the Federal Intermediate Credit bank Wichita, Kan Mr. Hooker has had wide perience bank receiver for government in the southwest. particularly this state and Texas. In addition to his duties with the local bank. Mr. Hooker will have charge of the affairs of the First National bank in the First National bank Siloam Springs, the Montgomery County National bank of Cherryvale, Kan., and Commercial Na. tional bank. Independence, Kan.,
6.October 14, 1931Bartlesville Examiner-EnterpriseBartlesville, OK
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Article Text
H. Hooker. New Central National Bank Receiver Surprised at Conditions Found Here
Jess H. Hooker. new receiver for the defunct Central National bank. finds difficult to believe that there any financial distress in Bartlesville. People are not calling at the bank for dividend checks which have been ready for them month. The bank recently declared third dividend of 10 per cent. making total 90 per cent paid positors. There about 1,200 of these dividend checks and onefourth of them remain unclaimed in the hands of the receiver. Of the approximately 300 checks yet unclaimed all are due Bartlesville residents. Those going to depositors have been mailed.
7.June 23, 1933Bartlesville Examiner-EnterpriseBartlesville, OK
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Article Text
MONTGOMERY WARD CO. BUILDING
Closed Deal Yesterday for Central National Building for New Home
Late yesterday afternoon Montgomery Ward Co., gave public evidence of its faith the future Bartlesville by purchasing the Central National bank building for the permanent home of its Bartlesville store. The deed to the company filed with the regisof deeds the court house few minutes after the deed from the receiver of the bank was filed transferring the property to EdLawson. The deed to Montgomery Ward signby Mr. Lawson. The consideration $16,500. according to figures on Work of remodeling the building will start immediately and present tenants will move out by July according to information considered reliable. The deed specifies that the bank receivers may remain until final payment of all obligations, or about 30 days. basement will be added to the structure which is by 90 feet in size and three stories in height, thus making one of the largest tail stores in Bartlesville. The corner entrance will be closed and Third street opening will be made with display windows facing south and west far the property line. The entire first floor will be brought down to street level. Complete new fixtures will be stalled on the first and second floors and the top floor will be used warehouse and store room. The basement will house bargain department.
8.June 24, 1933Morning ExaminerBartlesville, OK
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Article Text
SEPTEMBER
Remodeling of Central National Building To Begin At Once
Negotiations which have tended last several over months were completed this week deal whereby Ward and company purchased the Central bank building Third and Dewey for the home its Bartiesville store. Work of remodeling will start immediately present tenents will out about July the store probably will go into its home about September Deed the property specifies that the bank receivers may main until final payment of all obligations, about 30 days. The property purchased from Edward Tulsa banker, who purchased the propalong erty other the bank few assets Mr. Lawson had ceived deed the property this week after the receivonly sale the property had been finally approved. was generally understood at the time Mr. Lawson purchased the of the bank that an agreement had been reached with representatives of Montgomery Ward and company for the purchase the building. The consideration $16,500. basement will be added the structure which 60 feet by 90 feet and three stories high, making of the largest tail establishments in Bartlesville. The corner entrance will be closed and Third street trance will be made. Display windows facing both south and west will be arranged along the tire the The entire first floor will be lowered to the street Complete new fixtures be installed the first second floors and the top floor be used warehouse. The basement will provide space for bargain department.
