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ASHLAND BANK IS CLOSED BY BANKING DEPT. No Reason Given for Action; Institution Was Connected With Oklahoma City Bank. OKLAHOMA CITY. The Bank of Ashland, in Pittsburg county, was closed today by the banking department, it was announced by Joe Strain, bank commissioner. The bank is capitalized at $10,000 with deposits of $75,000 as of October 15, last, the most recent report in the bank commissioner's office. L. T. Sammons, former president of the Southwest National bank, which was merged with the First National Bank of this city recently, is also president of the Ashland bank. Definite information as to the reason for the latter bank's closing has not been received from Commissioner Strain, but it was stated at the bank that it was because the Ashland bank had its reserve funds deposited in the Southwest National. Too much of