Lehigh National Bank (Lehigh, OK)

View Charter #5755 on SPMC View balance sheet

Episode Information

Episode UID
575501485
Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
57550 national
Charter Number
5755
Start Date
September 17, 1923
Location
Lehigh, Oklahoma (34.469, -96.216)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
751d04bf5c8bde5a

Response Measures

Capital injected, Full suspension, Books examined

Receivership Details

Depositor recovery rate
1.8%
Date receivership started
1923-11-08
Date receivership terminated
1929-07-20
OCC cause of failure
Economic conditions
Share of assets assessed as good
25.3%
Share of assets assessed as doubtful
47.4%
Share of assets assessed as worthless
27.3%

Description

Initial run 1923-09-17 led to closure and examiners placed; receivership recorded later in 1923.

Events (5)
1. March 25, 1901 Chartered
Source
historical_nic
2. September 17, 1923 Run
Cause
Local Shock
Cause Details
Rumors of involved conditions in the coal fields (local coal-field distress) triggered steady withdrawals culminating in a run.
Measures
Closed doors after joint board meeting; national bank examiner placed in charge; plans for consolidation/reorganization.
Newspaper Excerpt
A run on the First State bank here extended to the Lehigh National bank and both institutions closed their doors this afternoon after a joint meeting of the board of directors.
Source
newspapers
3. September 17, 1923 Suspension
Cause
Government Action
Cause Details
National bank examiner took charge and banks closed pending reorganization; payments suspended while examiners reorganize.
Newspaper Excerpt
W. E. Hutt, national bank examiner took charge of the Lehigh National. Plans for reorganization are under way
Source
newspapers
4. November 8, 1923 Receivership
Source
historical_nic
5. November 8, 1923 Receivership
Newspaper Excerpt
R. H. Harris, Receiver for Lehigh National Bank (mentioned in later legal notices and actions by receiver).
Source
newspapers

Newspaper Articles (5)
1. September 18, 1923 Muskogee Daily Phoenix and Times-Democrat Muskogee, OK
Article from Muskogee Daily Phoenix and Times-Democrat, September 18, 1923

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Article Text

2 Lehigh Banks Closed by Runs State and National Institutions Fail; Consolidation and Reorganization Planned LEHIGH, Okla., Sept. 17.—A run on the First State bank here extended to the Lehigh National bank and both institutions closed their doors this afternoon after a joint meeting of the board of directors. National and state bank examiners have been placed in charge of the respective banks pending reorganization proceedings. A statement by the boards of directors said steady withdrawals for the past two weeks, ending today in the run, made closing necessary. Rumors of involved conditions in the coal fields are said to have been responsible for the run. Lehigh is in Coal county. The board made public plans to consolidate the institutions and expressed hope the new bank would reopen soon. The June statement of the Lehigh National showed deposits of $200,000. The bank was capitalized at $35,000 with a surplus of $5000. The First State bank was capitalized at $15,000 with a surplus of $5000.

2. September 18, 1923 Shawnee News-Star Shawnee, OK
Article from Shawnee News-Star, September 18, 1923

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Article Text

Two Lehigh Banks Close Their Doors When One Is 'Run' LEHIGH, Okla., Sept. 17.—Two banks the Lehigh National and the First State closed their doors today following a run on the state institution. W. E. Hutt, national bank examiner took charge of the Lehigh National. Plans for reorganization are under way and officials are hopeful the banking situation in Lehigh will be cleared.

3. January 19, 1928 Indian Citizen Atoka, OK
Article from Indian Citizen, January 19, 1928

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Article Text

IN THE DISTRICT COURT WITHIN AND FOR COUNTY STATE OF HOMA. Jefferson Green, Plaintiff, No. L. Way, et al. NOTICE OF SHERIFF'S SALE NOTICE Is hereby given that on the 6th day of February, 1928, at 10 o'clock M. at the front door of the Court House Atoka, in Atoka Oklahoma, the undersigned, Sheriff of Atoka County, Oklahoma, will offer for sale and sell for cash at public auction to the highest and best bidder. without appraisement, all that certain real estate in Atoka County in the State of toThe West Half of the Northeast Quarter and the West of the East Half of the Northeast Quarter of Section Township 3 South, Range 11 subject to taxes. Said sale will be made to order sale issued out of the office of the Court Clerk of Atoka County Oklahoma, upon judgment entered in the District Court of Atoka in an action wherein Green plaintiff, and L. Way and Mary Way. husband and wife: The American Investment corporation; R. H. Chavers; E. Briggs: L. Boose and Minnie Boose, husband and wife: Fritz Elterman: W McDougal: Jim Dougal M. Dougal, and Harris, Receiver for Lehigh National Bank. of Lehigh, Oklahoma are defendants to satisfy the judgment said suit on the 22nd day of June, 1927. in favor of Jefferson as plaintiff, in the sum of $1959.00 with interest at the rate of ten per cent per annum from June 1927 $160 00 attorney fee and the costs and accruing and foreclosure of mortgage held by said plaintiff lien on land as security for the of said indebtedWITNESS My hand this 29th day of P. Sheriff Atoka County, Oklahoma J. G. Attorney for Plaintiff (Pub. Jan. 5, 12. 19. 26, Feb. 2, 1928.)

4. April 26, 1928 Indian Citizen Atoka, OK
Article from Indian Citizen, April 26, 1928

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Article Text

IN WITHIN COURT DISTRICT THE COUNTY AND STATE FOR OF HOMA. P. Harris, Receiver Bank of the Lehigh Lehigh, Oklahoma National Plaintiff 3628 Daisy D. Robertson OF et Defendants. SALE. NOTICE IS HEREBY Order GIV of Sale. That issued in an and for District Court in out of the on State Atoka action an of April, the 16th day Receiver for the wherein Lehigh National Harris Bank of Lehigh, Oklahoma, was plaintiff, and Daisy nee D. RobCora Fay Vanduker. Robertson. Ethel Arlie Robertson. Robertson. Josie Verna Fern Rob- Roband Lump Cook B. Howard. ertson. were defendants, E. directed of to me. County. the Sheriff Oklahoma, undersigned me to levy upon. advertise and sell the follow described property. The W½ to-wit of the SE% of SW% of Section Township South, Range The and of the SW14 of the NWM of Section 9, Township South,

5. October 20, 1928 Muskogee Times-Democrat Muskogee, OK
Article from Muskogee Times-Democrat, October 20, 1928

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Article Text

BANK RECEIVER FILES ON NOTES IN S. COURT R. H. Alexander. receiver for the Lehigh National bank, and for the City National bank of Coalgate, filed three actions today in federal court for recovery on notes that the defunct banks are aleged to hold. Whitlock, of Sulphur, was sued for $151.85, claime) to be due the Lehigh bank. An action against W. B. Hall and Leila Hall, both of Coal county, for $227.23. and against M. Oxly for $569.08 was filed on behalf of the Coalgate bank.