Alva National Bank (Alva, OK)

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Episode Information

Episode UID
649001249
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
64900 national
Charter Number
6490
Start Date
January 9, 1904
Location
Alva, Oklahoma (36.805, -98.666)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
69d7acfc100b9865

Response Measures

None

Description

Some articles show minor variation in examiner initials (M. R. / M. B. Sturtevant) in OCR; meaning unchanged.

Events (4)
1. November 15, 1902 Chartered
Source
historical_nic
2. January 9, 1904 Receivership
Newspaper Excerpt
The comptroller of the currency ... has appointed National Bank Examiner Sturtevant receiver of the Bank of Alva, Oklahoma.
Source
newspapers
3. January 9, 1904 Suspension
Cause
Government Action
Cause Details
Comptroller of the Currency was advised the bank would not open and appointed a national bank examiner as receiver.
Newspaper Excerpt
the Alva National Bank ... would not open for business today. He appointed National Bank Examiner M. R. Sturtevant as receiver.
Source
newspapers
4. December 22, 1908 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (11)
1. January 9, 1904 Evening Star Washington, DC
Article from Evening Star, January 9, 1904

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Article Text

OKLAHOMA BANK CLOSED. Institution at Alva Placed in Charge of an Examiner. The controller of the currency received advice this morning from the Alva National Bank of Alva, Oklahoma territory, that the bank would not open for business today, and he has appointed National Bank Examiner M. R. Sturtevant as receiver. The following is a statement of the resources and liabilities of the bank as shown by its last report of condition to the controller at the close of business, November 17. Resources-Loans and discounts, $118,767.05; U. S. bonds, $6,820.31; stocks, securities, claims, etc., $2,911.33; furniture and fixtures, $1,738.48; due from banks and bankers, $8,945.85; cash and cash items, $16,699.03. Total, $155,882.05. Liabilities-Capital stock, $25,000; undivided profits, $5,445.15; circulation, $6,250; due to banks and bankers, $17,866.56; depcsits, $89,320.34; bills payable, $12,000. Total, $155,882.05.

2. January 9, 1904 The Tacoma Times Tacoma, WA
Article from The Tacoma Times, January 9, 1904

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Article Text

BANK FAILS 10 WASHINGTON, D. C., Jan. 9.-The comptroller of the currency was advised this morning that the National bank of Alva, Oklahoma, would not open its doors. He appointed Bank Examiner Sturtevant receiver. The liabilities and resources, according to the November statement, were approximately $100,000.

3. January 9, 1904 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, January 9, 1904

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Article Text

velt does not get the United States into trouble through foreign entanglements it will not be his fault. FROM WASHINGTON. [Correspondence of the Alexandria Gazette.] Washington, Jan. 9. After having spent most of the open sessions this week in the discussion of the Panama situation and the question as to whether the Senate committee on postoffices should make an investigation of the frauds in the Postoffice Department, the Senate has agreed to take a vote on the latter on Monday. The probabilities are that the Senate will decide that the investigation already made by the Postoffice Department itself is sufficient and that further inquiry is unnecessary. The report on General Wood's nomination has been made but no action will be taken upon it in the Senate until after Senator Hanna returns towards the end of next week. The foreign relations committee expects to report. the Panama canal treaty on Monday or Cuesday and its consideration in executive session will be pushed as early as possible. The canal situation will also be discussed in open session during the week in connection with various Tesoutions of inquiry proposed by Senators Hoar and Morgan. On Monday the House will be ready to take up District of Columbia business if there should be any to transact. The legislature, executive and judicial appropriation bill will be reported on that day and taken up for consideration Tuesday. Practically all the remainder of the week will be devoted to it. Although it is entirely improbable that the United States will become in any way implicated in the difficulties between Russia and Japan, the administration is keeping a close watch upon developments and American ships of war are in position to fully protect American interests in Korea and elsewhere in the Orient. The suggestion that the President be directed to use his good offices by way of meditation is regarded at the State Department as impracticable at the present stage. The precedent in such matters is only at the request of one of the interested parties, although there have some times been delicate hints conveyed that the United States willing to so act. The hope in State Department circles that there will be no war is strengthened today. This is based upon advices received from government agents abroad which are said to be practically unanimous. The answer of Reed Smoot, Senator from Utah, to the charges filed against him by various individuals and organizations throughout the country, was submitted today to the Senate committee on privileges and elections. It is a document of about 6,000 words and discusses the matter fully in all its phases. Two serious charges are preferred against Mr. Smoot, viz: That the respondent is a polygamist, and that he is bound by some oath or obligation which is in consistent with the oath required by the Constitution, which was administered to him before he took his seat as a Senator. Both these charges the respondent denies in lengthy refutations. The answer is signed and sworn to by Smoot. As to the charge that he is a polygamist, the respondent says that he was married on the 16th day of September, 1884, to Alpha May Eldridge. She is still his wife and has never cohabited with any other woman. As to the charges that the respondent is bound by some oath or obligation controlling his duty under oath as a Senator, the respondent says that he has never taken any such oath, or in any way assumed any such obligations. Lawyers who have watched the progress of the Northern Securities cases in the Supreme Court of the United States are inclined to believe that the court will hold, in the action brought by the State of Minnesota, that it has no jurisdiction. Congress was not in session today. The meeting of the democratic national committee in this city next Tuesday is looked forward to with much interest, as it will to a gree, be the real opening of the campaign or the presidency. The meeting will select the time and place of the next national con: vention. Senator Jones will not be the chairman of the next committee. His successor will be chosen when the committee meets in the convention city, wherever that may be. The Comptroller of the Currency received advices this morning that the Alva National Bank, of Alva, Okla. had not opened for business today, and he sappointed National Bank Examiner M R. Sturtevant as receiver. The resources and liabilities of the bank, according to the last statement made November 17, were $155,882.05 each. An amendment will be offered to the Panama Canal treaty which will be acceptable alike to republicans and democrats. The object will be to augment the receipts by the Republic of Panama from the canal when it shall have been constructed. As the treaty now stands the compensation to the new republic would not be equitable. The Navy Department today received the

4. January 9, 1904 The Spokane Press Spokane, WA
Article from The Spokane Press, January 9, 1904

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Article Text

Bank Closed. WASHINGTON, Jan. 9-Comptroller this mornig advises that the National Bank of Alva, Oklahoma, will not open today. He has appointed Bank Examiner Steurtevant receiver. The liabilities and resources according to November statement approximately are $130,000.

5. January 9, 1904 The Evening Statesman Walla Walla, WA
Article from The Evening Statesman, January 9, 1904

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Article Text

Oklahoma Bank Fails. WASHINGTON Jan. -The comptroller of the currency this morning has advices that the national bank of Alva, Oklahoma. won't open today. He has appointed Bank Examiner Sturtevant as receiver. The liabilities and resources according to the November statement are approximately $160,000.

6. January 10, 1904 The St. Louis Republic Saint Louis, MO
Article from The St. Louis Republic, January 10, 1904

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Article Text

larities there, and caused the recent investigations much against its will. ALVA NATIONAL BANK CLOSES. M. R. Sturtevant Appointed Receiver of Oklahoma Institution. REPUBLIC SPECIAL. Washington, Jan. 9.-The Comptroller of the Currency received advice this morning from the Alva National Bank of Alva, Ok., that the Bank would not open for 'business to-day, and he has appointed National Bank Examiner M. R. Sturtevant as receiver. The following is a statement of the resources and liabilities of the bank as shown by its last report of condition to the Comptroller at the close of business November 7: Resources-Loans and discounts, $118,767; United States bonds, $6,820; stocks, securities, claims, etc., $2,911; furniture and fixtures, $1.738; due from banks and bankers, $8,945; cash and cash items, $16,699. Total, $155,882. Liabilities-Capital stock. $25,000; undivided profits, $5,445; circulation. $6,250; due to banks and bankers. $17,866; deposits, $89,320; bills payable, $12.000. Total, $155,882.

7. January 10, 1904 The Washington Times Washington, DC
Article from The Washington Times, January 10, 1904

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Article Text

RECEIVER IS NAMED FOR OKLAHOMA BANK The Comptroller of the Currency has been advised that the Alva National Bank, of Alva, Oklahoma Territory. is closed. He has named National Bank Examiner M. B. Sturtevant as receiver. The last statement shows the resources of the banks to be $155,882.05.

8. January 11, 1904 Durango Semi-Weekly Herald Durango, CO
Article from Durango Semi-Weekly Herald, January 11, 1904

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Article Text

RECEIVER APPOINTED. -0WASHINGTON Jan. 9.-The comptroller of the treasury toady appointed M. R. Sturtevant receiver of the Bank of Alva, Oklahoma.

9. January 11, 1904 The Chickasha Daily Express Chickasha, OK
Article from The Chickasha Daily Express, January 11, 1904

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Article Text

The Alva National Bank has gone into the hands of a receiver.

10. January 12, 1904 The Daily Ardmoreite Ardmore, OK
Article from The Daily Ardmoreite, January 12, 1904

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Article Text

4 O'CLOCK EDITION Ardmore, Tuesday, January 12, 1904. The Alva National bank, Oklahoma, in which several Ardmore parties are interested, has gone into the hands of a receiver

11. January 18, 1904 The Daily Ardmoreite Ardmore, OK
Article from The Daily Ardmoreite, January 18, 1904

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Article Text

The Alva National Bank. From an Alva, Okla., exchange we clip the following: The Alva National bank closed its doors last Saturday morning and its president notified the comptroller of the currency at Washington at once, whereupon Mr. Sturtevant national bank examiner for Oklahoma, was appointed receiver. Mr. Sturtevant arrived Sunday and at once took charge of the institution and is going over the books and will try to adjust the bank's affairs as soon as possible. No blame for the bank's failure is attached to either Mr. Mason or Mr. Bruce, who recently came here from Ardmore. 1. T., and invested in the bank's stock and were elected president and cashier. It is the general impression that the bank had been badly managed for the past two years and that Messrs. Mason and Bruce bought a bad bargain when they invested. They will probably lose more heavily than any of the stockholders or depositors. It is claimed that the bank was seriously crippled when it lost the county deposits last October and has been more or less embar. rassed ever since. It is thought, how. ever, that an adjustment of its at fairs will show up all right and that depositors will not lose a cent. The bank's capital stock is $25,000, its deposits were close to $90,000 and its loans and discounts were something over $100,000.