Contemporary reports state a large withdrawal ($25,000) in one day produced a run that forced the bank to close 22 April 1904; a receiver was appointed. Comptroller authorized resumption after shareholders paid $30,000; bank resumed in mid‑May 1904 (papers cite May 19–20; a local note of reopening appears June 6).
Events (5)
1.July 29, 1902Chartered
Source
historical_nic
2.April 21, 1904Run
Cause Details
$25,000 withdrawn in one day (sudden large withdrawals); newspapers report no specific rumor or insolvency cause assigned.
Newspaper Excerpt
The failure was the result of a run, $25,000 having been withdrawn yesterday.
Source
newspapers
3.April 22, 1904Receivership
Newspaper Excerpt
The controller of the currency has received advice ... that the Farmers and Merchants' National Bank of Hobart, Okla., closed its doors this morning, and that he is en route to take charge. Mr. Sturtevant has been appointed receiver.
Source
newspapers
4.April 22, 1904Suspension
Cause Details
Bank closed following the run (large withdrawals); Comptroller/inspector intervened and a receiver was appointed.
Newspaper Excerpt
The Farmers and Merchants' National Bank of Hobart, Okla., closed its doors this morning.
Source
newspapers
5.May 20, 1904Reopening
Newspaper Excerpt
The comptroller of the currency has authorised the Farmers and Merchants' National Bank of Hobart, Oklahoma territory, to resume business today ... The impairment has been made good by a voluntary payment of $30,000 in cash by the shareholders.
Source
newspapers
Newspaper Articles (19)
1.April 22, 1904Evening StarWashington, DC
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Article Text
An Oklahoma Bank Fails. The controller of the currency has received advice from National Bank Examiner Myron R. Sturtevant that the Farmers and Merchants' National Bank of Hobart, Okla., closed its doors this morning. and that he Is en route to take charge. No cause is assigned for its failure. Mr. Sturtevant has been appointed receiver. The condition of the bank, as shown by its statement at the close of business on March 28, 1904, shows total resources to have been $166,402; of with loans and discounts of $98,941.
2.April 22, 1904Lewiston Evening TellerLewiston, ID
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Article Text
National Bank Failure (Special Telegram to Evening Teller.) WASHINGTON, April 22. - The Farmers and Merchants National Bank of Hobart, Oklahoma, has closed its doors and this morning a receiver was appointed.
3.April 22, 1904The Topeka State JournalTopeka, KS
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HOBART BANK CLOSES. Failure Results From a Run Started Thursday. Hobart, Ok., April 22.-The Farmers and Merchants' National bank closed its doors today. President Bradford says the depositors will be paid in full. The failure was the result of a run of $25,000, having been withdrawn yesterday. The bank had deposits of $55,000, and loans and overdrafts exceeding $95,000.
Bank at Hobart Fails. Hobart, O. T., April 22.-The Farmers' and Merchants' National bank closed its doors today. President Bradford says the depositors will be paid in full, The failure was the result of a run, $25,000 having been withdrawn yesterday. The bank had deposits of $55,000 and loans and overdrafts exceeding $95,000.
5.April 23, 1904The St. Louis RepublicSaint Louis, MO
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HOBART BANK CLOSES DOORS. President Bradford Declares That the Depositors Will Be Paid in Full. Hobart, Ok., April 22.-The Farmers and Merchants' National Bank closed its doors to-day. President Bradford says the depositors will be paid in full. The failure was the result of a run, $25,000 having been withdrawn yesterday. The bank had deposits of $55,000. and loans and overdrafts exceeding $95,000. RECEIVER APPOINTED. Washington, April 22.-The Comptroller of the Currency has been advised by National Bank Examiner Sturtevant that the Farmers and Merchants' National Bank of Hobart. Ok., closed its doors to-day. and that he is en route to take charge. No cause is assigned for its failure. Mr. Sturtevant has been appointed recelver. The capital is $50,000.
6.April 23, 1904Rock Island ArgusRock Island, IL
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Article Text
Still Another Oklahoma Bank. Hobart, O.T., April 23.-The Farmers' and Merchants' National bank has closed its doors. President Bradford says the depositors will be paid in full. The failure was the result of a run, $25,000 having been withdrawn.
Oklahoma Bank Goes Down. HOBART, Okla., April 23. - The Farmers and Merchants' National bank has closed its doors. President Bradford says the creditors will be paid in full. The failure was the result of a run, $25,000 having been withdrawn in one day. The bank had deposits of $55,000 and loans and overdrafts exceeding $95,000. Murderer Shot at Salt Lake City. SALT LAKE CITY, April 23.-Frank Rose, the wife murderer, was shot to death in the yard of the state penitentiäry here at,10:09 o'clock. Death was instantaneous, four bullets lodging in or close to his heart. Rose went to his death chair with the same coolness that had marked his conduct since he surrendered to the police.
Oklahoma Bank Goes Down. HOBART, Okla., April 23. - The Farmers and Merchants' National bank has closed its doors. President Bradford says the creditors will be paid in full. The failure was the result of a run, $25,000 having been withdrawn in one day. The bank had deposits of $55,000 and loans and overdrafts exceeding $95,000.
9.April 23, 1904Evening JournalWilmington, DE
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Article Text
Oklahoma Bank Closed by a Run. Hobart, Okla., April 23.-The Farmers and Merchants' National bank has closed its doors. President Bradford says the creditors will be paid in full. The failure was the result of a run, $25,000 having been withdrawn in one day.
10.April 29, 1904The Rice Belt JournalWelsh, LA
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Article Text
Oklahoma Bank's Failure. Washington: The controller of the currency has been advised by National Bank Examiner Sturtevant that the Farmers and Merchants National Bank of Hobart, Ok., closed its doors Friday morning, and that he is enroute to take charge. No cause is assigned for the failure. Mr. Startevant has been appointed receiver.
11.May 3, 1904Wausau PilotWausau, WI
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Run Shuts Oklahoma Bank. The Farmers' and Merchants' National Bank closed its doors at Hobart, Okia. The failure was the result of a run, The $25,000 having been withdrawn. bank had deposits of $55,000. and loans and overdrafts exceeding $95,000. President Bradford says the depositors will be paid in full.
12.May 5, 1904The Hocking SentinelLogan, OH
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Article Text
Run Shuts Oklahoma Bank. The Farmers' and Merchants' National Bank closed its doors at Hobart, Okla. The failure was the result of a run, $25,000 having been withdrawn. The bank had deposits of $55,000, and loans and overdrafts exceeding $95,000. President Bradford says the depositors will be paid in full.
13.May 19, 1904Evening StarWashington, DC
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Article Text
Bank Authorized to Resume. The controller of the currency has authorised the Farmers and Merchants' National Bank of Hobart, Oklahoma territory, to resume business today as an active national banking association. The bank suspended payment on the 22d ultimo, and upon examination of its affairs by Myron R. Sturtevant, national bank examiner, it was found that the capital stock was somewhat impáired, but that the assets were sufficient to pay its depositors in full. The impairment has been made good by a voluntary payment of $30,000 in cash by the shareholders, and the bank resumes business under favorable auspices with an unimpaired capital of $50,000.
14.May 20, 1904The Wichita Daily EagleWichita, KS
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Article Text
HOBART BANK WILL REOPEN Stock Holders Have Put Up $30.000 Additional. COULD PAY DEPOSITS Permission Is-Given for the Bank to Resume Business Washington, D. C., May 19.-The comptroller of the currency has authorized the Farmers and Merchants' National bank of Hobart, O. T., to resume business today as an active national banking association. The bank suspended payment on the 22d ul and upon an examination of its affairs by Myron H. Sturtevant, national bank examiner, it was found that the capital stock was somewhat impaired but that the assets were sufficient to pay its depositors in full. The impairment- has been made good by a voluntary payment of $30,000 in cash by the shareholders.
15.May 20, 1904Barton County DemocratGreat Bend, KS
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Article Text
Hobart Bank to Resume. Washington, May 19.-The - comptroller of the currency has authorized the Farmers and Merchant National bank of Hobart Okla., to resume business today. The bank suspended last month. Assets sufficient to pay the stockholders in full were found. The stockholders made good immediate deficiency by the voluntary payment of thirty thousand dollars.
16.May 20, 1904The Laramie RepublicanLaramie, WY
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FAILED BANK RESUMES. Hobart Institution Finds Assets to Pay Depositors in Full. Washington, D. C., May 20.-The comptroller of the currency authorized the Farmers' and Merchants' National bank of Hobart, Okla., to resume business today. The bank suspended last month, but assets sufficient to pay depositors in full were found. The stockholders made good the impairment by the voluntary payment of $30,000.
17.May 20, 1904Rock Island ArgusRock Island, IL
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Suspended Bank Resumes. Washington, May 20. - The comptroller of the currency has authorized the Farmers' and Merchants' National bank, of Hobart, O. T., to resume business. The bank suspended payment on the 22nd ult.
18.May 27, 1904The Farmington Times and HeraldFarmington, MO
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BANK RESUMES BUSINESS Impalyment of Capital Stock Was Made Good Ps the Shareholders. | Washington. May 20.-The comptroller of the currency has authorized the Farmers' and Merchants' national bank of Hobart, Okla., to resume business as an active national banking association. The bank suspended payment on the 22d ult., and upon an examination of its affairs by Myron H Sturtevant. national bank examiner. It was found that the capital stock was somewhat impaired, but that the assets were sufficient to pay its depositors In full. The Impairment has been made good by a voluntary payment of $30,006 in cash by the shareholders.
19.June 6, 1904The Chickasha Daily ExpressChickasha, OK
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Article Text
The Farmers' and Merchants' National bank at Hobart, which suspend. ed a few weeks ago, has reopened.
