Kansas City Federal Reserve shipped $500,000 in currency; large local deposits and civic pledges bolstered the bank.
Newspaper Excerpt
Rumors, declared by officials of the bank to be false and malicious, were circulated early yesterday and started a run.
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newspapers
3.April 2, 1926Voluntary Liquidation
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historical_nic
Newspaper Articles (12)
1.February 11, 1926Iowa City Press-CitizenIowa City, IA
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BANK READY TO COMBAT EMERGENCY
MUSKOGEE, Okla., Feb. 11(AP)-Backed by more than a half million dollars from outside resources, the Commercial National bank is prepared to meet any emergency today that may grow out of the run started on the bank yesterday. The Kansas City federal reserve bank has sent $500,000 to aid the institution. Rumors, declared by officials of the bank to be false and malicious, were circulated early yesterday and started a run. The bank has total deposits of more than $4,000,000.
2.February 11, 1926The Kansas City StarKansas City, MO
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CASH FROM HERE
Muskogee Institution Ready Today Run Started Yesterday.
Feb. by more than million dollars from out the Commercial National Bank of this prepared to meet today grow run started the bank The Kansas City Federal Reserve Bank shipped million dollars aid the institution. business firms and ganizations ditional deposits and from Oklahoma is coming.
3.February 11, 1926The Enid Morning NewsEnid, OK
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RUN IS STARTED ON BANK AT MUSKOGEE more declared by bankers to be unfounded and malicious brought run, that assumed alarming proportions, upon the Commercial National bank here today The were effectively stopped shortly before the banking day ended when D. N. Fink, for many years the president of the institution, with tear dimmed eyes and voice that choked with sobs pleaded with the throng that surged
4.February 11, 1926Muskogee Daily Phoenix and Times-DemocratMuskogee, OK
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RESER VE BANK SENDS $500,000
By The Associated Press KANSAS CITY, Feb. Kansas City Federal Reserve bank tonight threw its resources behind the Commercial National Bank of Muskogee, Okla., on which a run was started today, sending half a million dollars to meet any emergency that may arise. Announcement of the shipment, which was in currency, was made by J. Helm, cashier of the reserve bank. Helm minimized the seriousness of the run on the bank.
5.February 11, 1926Muskogee Daily Phoenix and Times-DemocratMuskogee, OK
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BANK RUN QUELLED WITH BIG DEPOSITS FLOODING IN TODAY
City Rises to Emergency, Business and Professional Men Demonstrating Confidence
WITHDRAWALS TAPER OFF AS CALMNESS RETURNING
Veteran President in Dramatic Speech at Height of Excitement-Assails Scandal Monger for Vicious Lies
WITH assurances of confidence and pledges of loyalty and support from chamber of commerce, the Retail Merchants' association. the Bar association. the First National bankits fellow institution-and scores of prominent business men of Muskogee. the Commercial National bank will open this morning after turbulent and bectic day stronger than at any other in its history. Anonymous tongues that flashed malicious word about town over the lephone wires morning upon the Institution run that, before the day's banking hours had had assumed menacing Last night the storm had passed. bad proved but squall which the good shf weathered on even keel only fluttering of the salls. City Rises to Emergency This morning the bank has the unleited and voluntary pledges of the men of Muskogee that not only will their deposits not be but that deposits than they have made will be Yeste day after o'clock, the end the banking day, had passed Muskogee triumphantly the emergency The of the city of their own initiative circulated and signed petition reciting their confidence the bank and Its officers plending their loyalty. The Retail Merchants' association, through the unanimous voice of its directors, assured the bank of its support. The chamber commerce gave word of loyalty and confidence through its Business Men Organize Last night Army association, holding scheduled meeting, adopted ringing resolutions by which the 150 commissioned officers present agreed to not only leave their individual deposits intact but to continue national guard funds in institution. It explained that this action the officers rendered themselves personally liable for the amounts but they declared themselves eager to thus make manifest their confidence. Last night, too. the business men of Muskogee to swamp the today with their deposits. Money going In to the Commercial bank fast tomorrow there won't be opportunity for anyone to take any out should anyone wish to do one merchant said. He has $15,000 to deposit. Others have sums even larger while some are to be the smaller in figures but in the expression of faith. Griffin. president of the chamber of commerce and head of the large wholesale grocery company that bears his name, told the Phoenix last night to say for him that not only did his firm's money stay in the bank but that he had deposited large amount yesterday and Intends to deposit larger amount today. Calhoun telegraphed his subordinates to "stay in there." and such merchants as Elmer Harbour, Bass. Jess M. McEntee, Paul May and B. Shouse took the lead in actual manifestations of ON PAGE THREE
6.February 11, 1926The Ponca City NewsPonca City, OK
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RUN IS MADE ON BANK AT MUSKOGEE
Muskogee, Feb. When the Commercial National bank opened for business at 9 o'clock 60 persons were standing in line before the receiving teller's window and only 16 stood opposite the paying cages. One hundred dollars was being deposited for every dollar withdrawn. officials of the bank said, and yesterday's incipient run seemed to have been stemmed by the action of Muskogee civic interests in pledging possible deposits and by the federal re- serve bank's shipment of half million dollars in currency. The big currency shipment was delivered at the bank this morning in police motor cars under heavy guard.
7.February 12, 1926The RepublicanSpringfield, MA
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Grave Run on Bank Ends in Flood Of Deposits and Floral Tributes
Muskogee, Okl., Feb. 12-Muskogee today was celebrating with dollars and daisies the dramatic climax of a two-day run on the Commercial Na tional bank, a $5,000,000 institution. What had seemed tragedy. threat ening not only the destruction of the bank, but hundreds of business houses, today had become a joyous "depositing The run began Wednesday morn. mg when mechanic, loan having been refused him, circulated rumors that the was failing. By noon hundreds of depositors the bank and street frantically seek Ing their money At the closing hour $150,000 had been paid out. During the late afternoon and eve. ning virtually every civic and business organization in the city met and idopted resolutions of confidence in he bank, agreeing to leave their de-
"Minute men" made speeches in all the theaters, centering their talks on the character and honor of D N Fink, venerable president of the bank. During the night the Kansas City Federal Reserve bank announced that its entire resources had been thrown behind the local institution and that half million dollars had been shipped by express. At yesterday morning the bank opened as usual. crowd pressed In But it was one of depositors and not frenzied Scores brought with their money great bouquets and baskets of flow. ers for President Fink, who stood dazed at the The half -million from the Reserve bank lay unopened as great piles of currency came flooding in.
NEW STUDIO LIGHT Culver Citq Cal., Feb. The largest motion picture are light in the
8.February 12, 1926Evening StarWashington, DC
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BUSINESS LEADERS AID MENACED BANK Muskogee Institution Successfully Survives "Run" of Ugly Proportions. By the Associated Press MUSKOGEE. Okla., February 12.Muskogee business and professional men, rallying to the Commercial National Bank. menaced by a run of ugly.
9.February 12, 1926The Perry JournalPerry, OK
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CASH RUSH TO SAVE MUSKOGEE BANK
Muskogee, Feb. 11.-Backed by more than one-half million dollars from outside resources, the Commercial National Bank of this city is prepared to meet any emergency today that may grow out of a run started on the bank yesterday. The Kansas City Federal Reserve Bank has shipped one-half million dollars to aid the institution, local business firms and organizations have promised to make additional deposits and financial help from other Oklahoma cities is reported coming.
Business Rallies To Support Of Bank And Run Is Stopped MUSKOGEE. Okla., Feb. 11 (AP) Muskogee business and professional men, rallying to the Commercial Na tional Bank, menaced by a run ugly yesterday. poured more than $350,000 in cash into the institution through the teller's win. dows in individual deposits today. The day that some feared might be one of tragedy was a day of tri an umph Before the bank had been open hour $100,000 had passed into the vaults through the teller's windows The final check at closing hours shows $350,122.70 Deposits from other banks will greatly swell this
11.February 12, 1926Muskogee Daily Phoenix and Times-DemocratMuskogee, OK
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Labor Unions Leave Their Cash in Bank, Voicing Confidence vote, delegates to the Central Labor Union last night passed resolution "complete conflthe officers management of the Commercial National bank. About more than dozen leading labor unions of city were present. The tion declared that the Central Làbor Union believes the bank "sound and solvent and voiced faith in the ability and integrity of the All unions doing their banking with the Commercial reported that the funds remained in the bank during the recent run and would stay in the depository.
12.February 12, 1926Santa Barbara News-PressSanta Barbara, CA
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Phone Messages Start Run On Bank
MUSKOGEE (Okla.) Feb. 12. anonymous tongue that flashed malicious words over the city's telephone wires yesterday brought a run on the Commercial National bank that assumed alarm. ing proportions. Withdrawal of deposits was stopped shortly before the banking day closed when D. N. Fink, president, with tear-dimmod eyes and choking voice, pleaded with the throng that surged through the bank's lobby and milled about outside The Commercial National bank is the second largest in the city with total deposits of more than $4,000,000.
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.
