gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
ed1908d7f10f4b8d
Response Measures
None
Receivership Details
Depositor recovery rate
43.7%
Date receivership started
1925-05-12
Date receivership terminated
1931-03-30
OCC cause of failure
Economic conditions
Share of assets assessed as good
34.2%
Share of assets assessed as doubtful
29.3%
Share of assets assessed as worthless
36.5%
Events (4)
1.May 17, 1905Chartered
Source
historical_nic
2.May 6, 1925Suspension
Cause
Bank Specific Adverse Info
Cause Details
Unable to liquidate old cotton loans and refusal of the Federal Reserve Bank at Dallas to handle paper of the merged First National bank.
Newspaper Excerpt
Hugo National bank failed to open for business today.
Source
newspapers
3.May 12, 1925Receivership
Source
historical_nic
4.May 12, 1925Receivership
Newspaper Excerpt
Cooper ... was notified today by the comptroller ... appointed receiver for the Hugo National bank, which was closed last Saturday.
Source
newspapers
Newspaper Articles (21)
1.May 7, 1925The Guthrie Daily LeaderGuthrie, OK
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East Side Sufters Big Bank Failure
Hugo, May Hugo bonk failed to open for business The State bank and west here were eYised by orde missioner, in connection closing of the Institution Blames Federal Reserve Bank Officials of the National bank tributed their difficulties to the freat the Federal Reserve bank Dallas handle paper of the National bank which merged with the Hugo National bank two years ago Depositors in the TWO closed banks include number the leading business concerns of the city. The closing unexpected.
2.May 7, 1925The Guthrie Daily LeaderGuthrie, OK
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STATE BANK SAVES SMALLER BANK
Oklahoma City, May The bank Wash closed day by state bank The bank has no connection with the Hugo National bank which failed to open this morning have grounds close the state bank has bank had Insufficient reserve cash to withstand run and ordered closed as precention." Mothersond said. The Liberty Sto bank of Sopher, which he also ordered closhas the directorate the Hugo National,
3.May 8, 1925St. Joseph GazetteSt. Joseph, MO
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THREE OKLAHOMA BANKS CLOSED
One Fails to Open and 2 Others Closed by State
National bank here failed to open for business today. The Hugo State bank and the Liberty State bank of Soper, town west of here. were closed by order of O. B. Mothersead, tion with the closing of the national Officials of the national bank attributed their difficulties to the refusal of the Federal Reserve bank at Dallas to handle paper of the First National bank. which merged with the Hugo National bank two years ago,
Oklahoma City, Okla., May 7.The Hugo State bank was closed today by O. B. Mothersead, state bank commissioner, precaution against a run. he said. The bank
4.May 8, 1925The Parsons Daily SunParsons, KS
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To Avoid Run On Bank
OKLAHOMA CITY. Okla., May The Hugo State Bank was closed today by O. B Mothersead. sinte bank commissioner, as precaution against a run, he said The bank has no connection with the Hugo National Bank which failed to open this morning Mothersead said the Liberty State Bank. of Soper. which he also ordered closed today. has the
5.May 13, 1925The Ponca City NewsPonca City, OK
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NAME MUSKOGEE MAN HUGO BANK RECEIVER Muskogee, May Cooper, vice president of the Muskogee National bank, was notified today by the comptroller of that he had been currency pointed receiver for the Hugo National bank, which was closed last Saturday. Cooper leaves Thursday for Hugo. He has been in the banking service- an eral years but for the past has been connected with the Muskogee institution and his appointa
6.May 22, 1925The Oklahoma County NewsJones, OK
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BANK RECEIVER COOPER IS
Disappointed Because Stockholders Planned to Reopen Business
Hugo, Cooper, former bank of Muskogee, for the Hugo National bank the comptroller His appointment came just positors the bank plan re-organization keep the institution from hands. Most depositors favored taking Stockholders percent capital agreed and had raised $125,000 money for re-opening the sound basis. In deposits up in the bank, including state, city and school funds.
7.May 28, 1925The Ithaca JournalIthaca, NY
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Oklahoma Must Conduct Its Affairs Without Bank Help
Hugo. Okla., May 28. town 6.000 inhabitants today without bank. sign on the door of the National Bank informed the public yesterday that "for the protection of the depositors" the bank not open. Business was at standstill today. The only money available was and cash registers. Many persons baseball terday, others played golf or went fishing.
Three banks have closed their doors Hugo this month. The Hugo National Bank and the Hugo State Bank closed May Both banks unable liquidate old cotton loans. The City National Bank. with capital and surplus of requested its depositors to limit withdrawals safely through the financial emergency. Saturday depositors began to make heavy the City National Bank, although there was no Officials of the bank asked for help and every dollar of leading placed on deposit. Trips cities to secure additional funds brought little aid.
8.May 28, 1925The Tampa TribuneTampa, FL
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Hugo, Oklahoma Bank, Third and Last One There, Closes Doors
By The Associated May and closed order the board of two cotton City replenish the bank's cash but today that while there been apparent bank. many depositors the local institution through banks in those Only banks remain open in Choctaw and the other both villages. business today these banks cash plans for the future have not been optimism apparent reaction to last the feeling prevailing that its open the Hugo National bank, the largest Business was seriously cut the they had Hugo has population of 6,000.
9.May 28, 1925Times HeraldOlean, NY
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HUGO. Okla., May town of 6,000 without ban. sign today of the City National the door bank the public yesterthat the protection of day the depositors." the bank was not
Business was at standstill today. only money available in the pockets and cash Many persons attended baseball game yesterday. others played golf or went fishing. Three banks have closed their doors in Hugo this month.. The Hugo National bank and the Hugo State bank closed May Both banks were unable to quidate old cotton loans. The City National bank. with Ital and surplus of quested depositors, to limit withdrawals and caine safely through the financial emergenSaturday depositors began make heavy withdrawals from the City National bank. altho there was no Officials the bank asked for help and every available dolof leading business men was Loring citles to secure additional funds brought little aid.
10.May 28, 1925Cherokee County Democrat-StarTahlequah, OK
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COOPER IS BANK RECEIVER
Stockholders Disappointed Because Planned Reopen Business
Hugo, Cooper, former bank has receiver for the Hugo National bank by the comptroller Ills appointment came Just positors officials the bank working out plun for re-organization to keep the institution from hands Most depositors favored taking 25 percent agreed sacrifice $200.00 capital stock bank had $125,000 for re-opening the sound total in deposits tied the bank. state, county, and school funds.
11.May 28, 1925Lexington Herald-LeaderLexington, KY
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Article Text
Three banks have closed their doors in Hugo this month. The Hugo National bank and the Hugo State bank closed May 6. Both banks were unable to liquidate old cotton loans. The City National bank, with a capital and surplus of $110,000, requested its depositors to limit withdrawals and came safely thru the financial emergency.
12.May 28, 1925The Wichita EagleWichita, KS
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Article Text
The City National bank surrendered, after a hard fight, and a sign on its closed doors today informed the public it was not open for business.
Industry of all kinds in the city virtually stopped when business men were left with only the money in their cash registers and their pockets, on which to operate.
Only two banks are operating in Choctaw county, small state institutions at Fort Towson, and Boswell. The Hugo National bank and the Hugo State bank, unable to liquidate old cotton loans despite a bumper crop last year, closed May 6. The
13.June 6, 1925The Vinita Daily JournalVinita, OK
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Appoint Receiver For Hugo Bank
(By Associated Press) HUGO, June 6.-Roy A. Cooper, of Muskogee, receiver for the Hugo National bank, was appointed receivfor the City National bank of Hugo yesterday. The appointment was made by J. W. McIntosh, comptroller of currency. No announcemen thas been made concerning the re-organization although it is understood that definite plans is being formulated.
14.April 29, 1926Muskogee Daily Phoenix and Times-DemocratMuskogee, OK
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SUE MINOR IN BANK CASE
Guardian Is Joined With Girl in Suit For $500 Liability For Hugo Bank Failure Because $500 of a minor's estate was Invested in stock of the Hugo Na. tional bank. the receiver of the bank has sued the minor, Mattle E. Crowdor, of Choctnw county. for $500 on her liability The girl's guardian, Mary E. Imgle, is joined with her in the sult. The girl owned five shares of the bank's stock at the time of Its failure
15.April 29, 1926Muskogee Times-DemocratMuskogee, OK
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SUE MINOR IN BANK CASE
Guardian Is Joined With Girl in Suit For $500 Liability For Hugo Bank Failure Because $500 of minor's estate was invested in stock of the Hugo Na. tional bank, the receiver of the bank has sued the minor. Mattle E. Crowder, of Choctaw county, for $500 on her stockholder's liability. The girl's guardian, Mary E. Ingle, is joined with her in the suit. The girl owned give shares of the bank's stock at the time of its failure.
16.April 6, 1927Muskogee Daily Phoenix and Times-DemocratMuskogee, OK
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FIVE WOMEN DEFENDANTS IN BANK RECEIVER'S SUIT
Action Filed in Federal Court Here Collect Stockholders' Liability Assessments
Five women are included ameng respondents named in suit filed federal court here yesterday by Roy Cooper as for the Hugo National bank, of Hugo, Okla. Suit asks payment of assessments made against the respondents as stockholders in the defunct institution which closed its doors in May, 1925. The names of the respondents folMrs. W. Austin, Mrs. Burke, Mrs. Artie Cullins, Jesse W. Mrs. Daniel Wade, C. Henry, Kimmons, George Moon, Shull, W. Mrs. K. Wolff, R. Womack, The petition states that levy of $100 for each share of stock made. Shull's assessment. the petition shows, the largest. Shull owned 400 shares of stock the bank and his assessments were alleged to total $39,250. Mrs. Cullins' assessment was the largest made against the five She owned shares of stock and $6000. according to the petitioner's claims.
17.October 27, 1927The Tulsa TribuneTulsa, OK
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LOOKING OVER OKLAHOMA
Labor Omnia Vincit
HENRY COUPLE MARRIED 50 YEARS Oct. 27. Married 71. observed their golden wedding anniversary The here Tuesday quietly couple were married October 1877 at have the succeeded in staying out of debt all time and will be glad to live long as the Lord Mr said Clift When they came to Henryetta years as much as brick had been laid in the town. MAKE RECORD RUN TO GET FUNDS FOR BANK SALLISAW Oct. -When the First National bank of Sallisaw and the First National bank of Muldrow were both closed Monday by federal bank examiners. officers of the American National bank of Sallisaw dispatched Walter Hampton, motor dealer, and Ira Holder to Fort Smith to secure extra cash to withstand an expected run on the bank. The two men made the trip to Fort Smith and back of 54 miles, in minutes. and in this time must be included eight minutes spent in bank at Fort Smith. That is, the men rode faster than mile and minute But the money was not needed. No one withdrew dime
PIONEER REFINERY TO BE SOLD AT AUCTION GUTHRIE Oct. Want to buy refinery? The Pioneer refinery mile north of Guthrie. will be sold at suction to the highest bidder November Frank Rinehart. chairman of the board of county commistoday The county secured the plant. which represents an of when delinquent taxes were not paid. ADA INTERESTED IN TULSA WEWOKA ROAD ADA. Oct. 27-Ada is watching with Interest being made on a new railway from Tulsa to Wewoka S. Hynds. secretary of the chamber of who accompanied the Tulsa Educational Special train: Ed Gwyn. O. E. Parker and W D.1 Little. members of the board of directors. have been working with interested men in Seminole and Wewoka. Hynds has been at work for several seeking to make Ada stop on the road. Orwig Wewoka, of the new railway company is optimistic that the commerc commission will grant the request for the new road
DR. CLAXTON IN MUSKOGEE TODAY MUSKOGEE Oct. 27 Dr. Philander Claxton superintendent Tulsa schools and for eleven years United States commissioner of education, will deliver three addresses in Muskogee today. He will address the Men's Bible class of the Episcopal church. the Rotary club and the patrons of West High school. In company with C. K. Reiff. superintendent of schools, he will visit various city schools here. BANK FAILURE LEADS TO HUGOAN'S BANKRUPTCY HUGO. Oct 27.-To the failure of the Hugo National bank in May, 1925. is partly ascribed the bank ruptcy W. Webb, well known Hugo citizen and property owner. who filed petition in bankruptcy in federal court Muskogee listing liabilities at $359,793 and assets Liabilities consist principally of mortgages held by various banks and to which bank official, he affixed his signature.
OKEMAH JUDGE IS HONORED BY BAR Oct 27. District Judge John L. Norman has been honored by the Oklahoma bar in being named secretary of the newly formed association of Oklahoma district and superior court judges Judge John B. Ogden of Ardmore is president and Judge Tom G. Chambers of Oklahoma City, vice president.
WHAT THE CHURCHES SHOULD -WILLIAMS OKMULGEE Oct. What we need the money and the work of the churches, not for propaganda to bring congress to make more laws and more offenses, but to put men into office who will enforce the laws we already have," said federal Judge Robert Williams as he held federal The judge is former of Oklahoma. Continuing he said have sold many bottle of morphine for 50 cents back in the days when was not crime to do so, and am sorry for men who go to the penitentiary for the same things no
18.February 3, 1928The Cushing Daily CitizenCushing, OK
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Forty per cent has been paid depositors of the Hugo National bank; 43 per cent to depositors of the City National bank of Hugo, and 20 per
19.February 4, 1928Drumright Weekly DerrickDrumright, OK
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Half Million Is Paid Choctaw Depositors
HUGO, Feb. 4.-A statement lividends paid depositors of three defunct banks of Choctaw county was made here in quarterly report issued by Roy A. Cooper, national bank receiver. Forty percent has been paid positors of the Hugo National bank 13 percent to depositors of the City National bank of Hugo, and 20 cent to depositors of the First National bank of Boswell. Total of dividends was fixed
20.February 10, 1928The Drumright NewsDrumright, OK
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Half Million Is Paid Choctaw Depositors
HUGO, Feb. 4.-A statement of dividends paid depositors of three defunct banks of Choctaw county was made here in quarterly report issued by Roy A. Cooper, national bank receiver. Forty percent has been paid positors the Hugo National bank: 43 percent to depositors of the City National bank of Hugo, and 20 cent to depositors of the First Na. tional bank Boswell Total amount of dividends was fixed at
21.February 23, 1928The Enid Daily EagleEnid, OK
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HUGO BANK RECEIVER FOUND DEAD IN ROOM
HUGO, Okla., Cooper, receiver for the funct Hugo National and City tional banks here and the National bank of Boswell, Okla., found dead today in his room in local hotel. apparently had been dead for Physicians said death due to heart disease.
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.
