City State Bank (Wilson, OK)

Episode Information

Episode UID
86112471489
Episode Type
Run โ†’ Suspension โ†’ Closure
Bank Type
state
Bank ID
8611247 routing
Routing Number
86-1124
Start Date
January 26, 1924
Location
Wilson, Oklahoma (34.161, -97.425)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1ecd1f3b996551ba

Response Measures

None

Description

The bank failed to reopen after the 1924 suspension; a later article from 1926 confirms it as one of three failures in Wilson.

Events (3)

1. January 26, 1924 Run
Cause
Local Banks
Cause Details
Closing of the First National Bank here several months ago, and closing of the Security State Bank at Healdton two weeks ago
Measures
The bank continued to pay out until the closing hour.
Newspaper Excerpt
following a run on the bank late Saturday just before closing time.
Source
newspapers
2. January 28, 1924 Suspension
Cause
Rumor Or Misinformation
Cause Details
Heaviest depositors drew out Saturday and it was soon whispered around that a run was being made.
Newspaper Excerpt
The City State Bank of Wilson failed to open for business this morning
Source
newspapers
3. July 25, 1926 Other
Newspaper Excerpt
The City State bank closed Its doors in 1924, and to complete the list the Producers was taken over by the state banking board Friday. ... The Wilson has suffered three bank failures since 1922... The City State bank closed Its doors in 1924, and to complete the list the Producers was taken over by the state banking board Friday. Some business men of Wilson had all their cash in the closed bank and are in an embarrassing position, 08 many have mailed checks to dealers that essarily will be returned unpaid. They are making arrangements, however, to take care of their credit. The First National bank now is only financial institution in Wilson and is said to be able to take care of all demands made upon it pending the reopening of the Producers.
Source
newspapers

Newspaper Articles (3)

Article from The Daily Ardmoreite, January 28, 1924

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Article Text

Wilson State Bank Failed to Open The City State Bank of Wilson failed to open for business this morning, following a run on the bank late Saturday just before closing time. Plans for speedy reopening are being made today, according to officials of the bank. About two months ago this bank and the First National Bank merged, and the institution was considered to be sufficiently strong. Closing of the First National Bank here several months ago, and closing of the Security State Bank at Healdton two weeks ago, are believed to be contributing forces toward closing of the bank.


Article from The Wilson Democrat, January 31, 1924

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Article Text

City State Bank Closed To Public The City State Bank of this city failed to open for business Monday morning, owing to the probability that a run would be made on it and the inability of the bank to withstand a continued run. The bank is now in the hands of the state banking department for adjustment. The closing of the bank was primarily due to the fact that several of the heaviest depositors drew out their deposits Saturday and it was soon whispered around that a run was being made. The bank, however, continued to pay out until the closing hour when it closed its doors and was taken in charge by a representative of the banking department who was here at the time checking up the affairs of the Orr bank which closed last Wednesday. Plans are now under way for the reorganizing and re-opening of the bank at an early date, and it is believed that it will be only a matter of a few days until the good news is broadcasted that the bank will re-open. The City State Bank and the First National bank of this city were consolidated about two months ago, and it was believed that the bank would be able to ride over the depression. Failure to realize on loans, as well as the general depression which has been over the country are largely responsible for the closing of the bank. The officials of the bank who are using their every effort and resources to get the bank's affairs straightened out, give it as their opinion that the re-organization and opening of the bank will only be a matter of a short time. While business interests have been hit pretty hard by the closing of the bank, yet most of them are confident that they will be able to face the crisis and will lend their support towards getting the institution on its feet again. This leaves Wilson with only one bank the Producers State, which will use every legitimate means to assist the business interests in meeting the demands made upon them. The depositors in the City State who have been temporarily deprived of their money, have mainly expressed the belief that the bank will be re-opened at an early date and that they will be able to get their money dollar for dollar.


Article from The Daily Ardmoreite, July 25, 1926

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Article Text

Ardmore Loses Valued Worker In ATTACK IS MADE ON KLAN FORCES Removal To Texas Of Rev. Morgan This city and state lose able worker when Rev R E. 1. Mor Texas to become president of the Clarendon college is the opinion of those have been Intimately acquainted with him during his 21 years relation ship the West Oklahoma confer The Rev Mr. Morgan is recognized is of the strongest men of the this state where all his ministerial life within the bounds of the West Oklahoma conference. His unanimous election as president of Clar endon by the board of trus tees of that Institution came without his having made application and speaks for the worth of the man a WAS that no further comment Reared on farm he spent his boy hood days near Redford in Trimble educated in the public schools of his native state. in Kentucky Wesleyan ollege and the "niversity of Louisville his LL.B. degree from the latter Institution in 1895 For more than 10 years thereafter Morgan was engaged in the legal pro ession, coming to Oklahoma in July 005. he continued the practice of law six years in the town of Lawton to entered the ministry In 1905 and served in pastorates at Temple Norman Mangum Chickasha and First dethodist church of this city Was Presiding Elder Morgan has been presiding older districts of Oklahoma, Lawton OKhoma City and Ardmore and has erved as educational secretary for the hurch in Oklahoma from 1919 to 1922 He WILS married in 1896 to Miss Ber been splendid helpmate to her husband in his chosen profes They have child, Mrs R. Honry Greensboro, N. C., who is also th wife of minister The Kentucky Wesleyan college Ky conferred the D degree on Morgan In 1914 in dent of the board of education of the West Methodist Episcopal south since now and has for years member Methodist university Member Book Committee honors of member the the general has served since 1918 This commit elected by the eral from the church large At last general tee for another quadrennium, ecumentcal conference which met of the general conferences of 1914 1018 1922 and 1926 of the special sion the general Helps in Methodist Foundation Strice the organization or the has been dean of this Institution or the Oklahoma Methodist Foundation in connection with the state at Norman and member the of beard of trustees of same new field of duties for the first time in his ministerial career of which years It is with regret that Ardmore goodby splendid people Dr Morgan and his people of this community during the they have called this home among the most responsible and wealthy men of Carter county George Legate, of the hamber of commerce, has interviewed he men of Wilson thoroughly nd finds nothing but confidence ex pressed, he 'Wilson business men feel confident hat those behind the Institution, whose integrity cannot be impeach will re open the bank as soon as affairs can be straightened out by the state banking Afairs in Good Shape "There Is general feeling in Wilson that affairs of the bank are in such shape that they will adjust themselves, the secretary added "and while bust ness is somewhat hampered, the loy alty expressed is such that there is hardly possibility of the institution remaining closed.' F. B. Jones, vice president and cash ler. stated that the affairs of the bank would be found in much better condi tion than present Indications seem to warrant and he is sure every customer of the bank will receive the full amount due him. Jones went into minute details regard ing affairs of the institution, all of which will be revealed when the ex aminer makes his report. He told of the load the bank has been carrying for some time in addition to loans made to farmers who through crop failure last season, unable to pay Good Surplus Jones declared with present assets. and resources of the bank, that every questionable piece of paper could be dropped and still the institution would pay out with a probable surplus remain ing Jones is man of experience in banking He has been with the Producers for more than year. coming from Carnegie, Okla. where he formerly was engaged in the banking business. Some have expressed curiosity at the resignation of O. K. (Buster) Coulter, who quit his post three weeks ago and whose place had not been filled. The matter explained by Legate, who said that Coulter resigned last Janu ary He is an expert accountant and desired to enter business for himself. On account of family connections he was induced to remain with the bank until three weeks ago when he quit. Three Failures at Wilson The Wilson has suffered three bank failures since 1922. when the Wilson State bank went under and was reorganized later as the Producers State bank The City State bank closed Its doors in 1924, and to complete the list the Producers was taken over by the state banking board Friday Some business men of Wilson had all their cash in the closed bank and are in an embarrassing position, 08 many have mailed checks to dealers that essarily will be returned unpaid They are making arrangements, however, to take care of their credit The First National bank now is only financial institution in Wilson and is said to be able to take care of all demands made upon it pending the reopening of the Producers. Fined on "Blue Law" Charge PHILADELPHIA Austin, director general of the Sesqui Centennial exposition was Saturday fined $4 and cost on charge of violat Ing the Sunday "blue laws" of 1794 The fine is the maximum penalty un der the ancient law Contract for painting the Interior Ardinore senior high school WILS ed Friday to M G. Kinsey by the board of education and work will be gin at once in order to have pleted by time school opens in Septem Violence Is Avoided By Timely Arrival of Officers Who CORNING many years was narrowly verted when hostile of attempted to stop klansmen on to the county klen meeting on Dining Room Suite; W Goodwin farm mile of the city $188 Officers arrived Just in time to a remarkable value vent trouble Later in the eventug he automobile Genuine American Walnut Dining Room Suite, consistbattered ing of eight pieces as illustrated, makes a finely furnother heaved the ished dining room. There are extras to buy The from the suite is complete. Excellent quality and of a very klansmen the new and popular design The suite complete with reporting lent to the 45x60 table that extends to 8 feet, a large buffet five Hugh and chairs and an arm chair is specially priced at $188.00 Lenox slight able PAY US $25 NOW-THEN $15 MONTHLY undle the first of the north of AT AT out from SNEED'S SNEED'S district the fused to fight arrived The he when of trouble names of plicated High Salary Probed STEEL COUCH BED CONCEALED to Cretonne Covered Mattress he told he got Only $19.85