Farmers & Merchants National Bank (Hobart, OK)

View Charter #6358 on SPMC View balance sheet

Episode Information

Episode UID
635801599
Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
63580 national
Charter Number
6358
Start Date
March 2, 1933
Location
Hobart, Oklahoma (35.030, -99.093)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
dbedf89e48b99762

Response Measures

None

Description

The bank was closed due to the Oklahoma state banking holiday declared by Governor Murray on March 2, 1933, which preceded the national holiday.

Events (3)
1. July 29, 1902 Chartered
Source
historical_nic
2. March 2, 1933 Other
Newspaper Excerpt
Pres. Kelsay of the Farmand Merchants National bank... expressed the view that this section of the state not in need of moratorium, but that was probably the only thing to following reported withdrawals in the eastern section
Source
newspapers
3. March 2, 1933 Suspension
Cause
Government Action
Cause Details
State-wide banking holiday declared by Governor Murray of Oklahoma.
Newspaper Excerpt
The three-day holiday called Gov. Murray in Oklahoma for same period also is mandatory.
Source
newspapers

Newspaper Articles (4)
1. March 2, 1933 Las Vegas Daily Optic East Las Vegas, NM

Article Text

SEVENTEEN STATES CHECK RUNS ON BANK Seven More Join Movement to Restrict Withdrawals of Deposited Moneys THREE AND FOUR DAYS TO BE TEMPORARY HOLIDAYS Situation Easing in Some States as Legislatures Planned Curb Laws Mississippi, Arizona, Nevada and in Oregon today joined the states. which there are limitations placed on the withdrawals of deposits from banks. in which limitations on withdrawals now exist. The proclamation of Gov. Ralph at San Francisco makes mandatory the closing of California banks (or three-day period ending Saturday The three-day holiday called Gov. Murray in Oklahoma for same period also is mandatory. The of Gov. Allen of Louisiana provides for the sation until the end of the week "all public business including Banks and other public enterprises." Mississippi the decree of state banking called only (Continued On Page Two)

2. March 2, 1933 The Kiowa County Review Hobart, OK

Article Text

Western Banking Holiday By The western half of the state and particularly Hobart not need the holiday no discernable after effects will be felt here, according concensus of the heads the two local institutions. Pres. Kelsay of the Farmand Merchants National bank and Walter B/ Stephens, acting and manager of the Home State Bank, expressed opinion of bright optimism in terviews by the porter this Both executives expressed the view that this section of the state not in need of moratorium, but that was probably the only thing to following reported withdrawals in the eastern section after holidays had been declared adjoining states. No Excitement saw number of business and other customers of the morning,' Stephens said, there was absolutely manifestation of excitement among Kelsay said, few fanatics could start bank, but the larger men, and knowing the liquid condition both Hobart banks will not make trouble for Both also expressed the opinion that there is occasion excitement among the custom- they expect and would be fully pared for in arose. The statements each bank found them fully solvent and liquid with few in the state in better condition. No After Effects history repeats said, one will be able moratorium after The veteran banker told two previous experiences, the panic' of 1907 and the failthe First National bank here than decade which that absolute quiet prevailthrough and after the answered, were fully prepared for anything that might But Stephens expressed the optimisthat if the local banks could have and would have ignored governor's wouldn't have worked hardship them. couldn't do said. course we would like have accommodated our customlike making change for them. customers,' said, such an attitude, that probably wouldn't have been even under hardship, banks in this section of open

3. March 2, 1933 The Hobart Democrat-Chief Hobart, OK

Article Text

Western Half Didn't Need Banking Holiday By The half the state particularly Hobart did not need holiday and no discernable after effects will be felt here, according of the heads local institutions. Pres. Kelsay of the Farmand Merchants National bank Walter B. Stephens, acting and of the Home State Bank, expressed an opinion of bright optimism in interviews by the porter this morning. Both executives expressed the view that this section of the state not in need of moratorium, but that was probably the only thing to do following reported withdrawals in the eastern section after holidays had been declared in adjoining states. No Excitement saw number of business men and other customers of the bank this morning," Stephens said, there was absolutely no manifestation of excitement among them." said, few fanaties could Kelsay bank, but the start run on larger depositors are business men, and the liquid condition of knowing both Hobart banks will not make trouble for them." Both men also expressed the opinion that there is no occasion for excitement among the custom- since they did not expect and would be fully pared for in case it arose. The recent statements of each bank found them fully solvent and with few in the state in better dition. No After Effects history repeats Kelsaid, "no one will be able we had moratorium after Monday." The veteran banker told two previous experiences, the 'money panic' of 1907 and the failof the First National bank here more than decade ago, in which he said that absolute quiet through and after the experiences. answered, were fully prepared for anything that might have happened. But nothing Stephens expressed the optimistie note that even if the local banks could have and would have ignored the governor's proclamation, wouldn't have worked a hardship them. But We couldn't do said. "Of course we would like have accommodated our customlike making change for them. Our customers," he said, "are persons with such an attitude, that we probably wouldn't have been even under hardship, if were banks in this section of only open the

4. March 2, 1933 The Hobart Democrat-Chief Hobart, OK

Article Text

Lone Wolf Open But Just 'Changing'; Others Closed CITY. Mar. Extension of Oklahoma's bank day until Wednesday was recommended today by Bank Commiss sioner J. Barnett as the state government placed legislative and executive protection over the 453 Oklahoma banks and their depositors. The first flurry of excitement over, following Gov. W. H. Murray's three-day bank moratorium proclamation, state officials pared new stabilizing bill. Assurance of safety both banks and depositors was the keynote of the situation in Oklahoma. The unusual spectacle of such great confidennce is local banks that the institutions remained open today in the face of heavy demands occasioned by the state wide holiday was enacted at Idabel, Durant, Enid, Valliant and Alva. Bankers in these communities declared their situations so sound they saw no need of inconveniencing depositors. The redrafted bill authorizing the bank commissioner to banks under a plan of restricwithdrawals was being drawn up. The senate was prepared to suspend all other and send bill through its first stage. Preparing for immediate action, Speaker Tom Anglin called the house into session this morning without waiting for the scheduled m. meeting time. The bank holiday was declared, Murray explained, to give the islature time to enact lieve the proposed bill the bank commissioner sweeping power delay payment of deposits all banks, trust companies, savings banks and segregate deposits from old deposits, with no restriction on the new deposits. The bank virtual dictator over financial stitutions with emergency author needed rules and ity to adopt any daily reports. require SIXTEEN STATES HOLIDAYS TODAY BANK to restrict with. The movement of bank deposits spread drawals rapidly through the south and west last night and today states operated under decrees for bank holidays. CaliforMississippi, Oklahoma, nia, Arizona, Nevada and Oregon ordered brief bank holidays to give time for legislatures to draw withdrawals legislation limiting deposits. Louisiana went farther by orderholiday for all iness. The New Orleans cotton cotton market change, largest was closed. the country, Executives announcing the new holidays for forcing the other states restructions by placing tension of banks which unusual strain on an to continue business sought mally. ONE BANK IN ONLY STAYS OPEN COUNTY The First National bank at Lone Wolf was the only banking tution in Kiowa county which mained open today, and was just "making change," according made by the Demosurvey Banks here, at Mountain Cooperton, Mountain View and Snyder were all closed, was the one at Rocky. OREGON TOO Ore., Mar. Governor Meier today declared three-day legal holiday state Oregon starting continuing through