gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
aef24e60c20ffb48
Response Measures
None
Description
Closed by state bank commissioner as a precaution; later reported reopened in July.
Events (2)
1.May 6, 1925Suspension
Cause
Government Action
Cause Details
Closed by state bank commissioner O. B. Mothersead on May 6, 1925 as a precaution against a run
Newspaper Excerpt
The Hugo State bank was closed today by O. B. Mothersead, state bank commissioner, as precaution against a run
Source
newspapers
2.July 12, 1925Reopening
Newspaper Excerpt
BANK REOPENS ... The Hugo State bank ... very few withdrawals today and deposits were received
Source
newspapers
Newspaper Articles (11)
1.May 7, 1925The Guthrie Daily LeaderGuthrie, OK
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Article Text
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 8, 1925St. Joseph GazetteSt. Joseph, MO
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Article Text
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
3.May 8, 1925The Parsons Daily SunParsons, KS
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Article Text
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
4.May 28, 1925Daily SentinelRome, NY
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Article Text
Business Hit Closing By Bank in Town of Only
Hugo, Okla., May town of 6,000 inhabitants today bank. sign on the door of without City National Bank informed the the yesterday that "for the protecpublic tion the depositors," the bank open. Business was standstill today only money pockand registers. Many persons attended baseball game yesterday, others played went fishing. their Lional Bank and the Hugo State closed May Both banks were unold loans. City Bank with capital and and came safely through the financial
Saturday depositors began from the City Na tional Bank, although there Officials of the bank asked for help available dollar leading every business men placed on deposit. neighboring cities additional funds brought little
5.May 28, 1925The Muskegon ChronicleMuskegon, MI
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Article Text
NO COIN, BANK, OR IN SOONER TOWN
Hugo, May town today bank. the door the City National Bank the public yesterday the protection the deposibank not being regispersons baseball yesterday two Sunday school teams, others played golf went Three banks closed their doors Hugo month. Hugo Hugo State Bank closed May Both banks unable cotton loans. The National Bank, capital surplus requested its limit withdrawals safely through the financial emer gency. Saturday depositors began from Bank, although the bank asked help every dollar leading business placed their disposal. Trips neigh boring cities secure additional funds brought little Tuesday night board of directors met decided bank 'for the protection of dePlans areb ing discussed merge three each accept of 25 per cent their deposits The National Bank in statement Issued April reported deposits capital and surplus the reserve and cash on hand
6.May 28, 1925The Ithaca JournalIthaca, NY
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Article Text
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.
7.May 28, 1925Times HeraldOlean, NY
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Article Text
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.
8.May 28, 1925The Ardmore Statesman and Weekly ArdmoreiteArdmore, OK
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Article Text
WITHOUT BANKS
The City National Bank of Hugo, Oklahoma, closed its doors by order of its board of directors Wednesday morning of this week. It was the last of Hugo's banks, the First National, of that city, and the Hugo State Bank, having closed earlier this month. It leaves Hugo, which city of 6,000 people, and the county seat of Choctaw county, without bank of any kind. In fact, there are but two small banks left in the county; one at Fort Townsen, the other Boswell. The reason for the closing of the City National was, that depositors in it went to other towns and cities in Oklahoma and Texas, and drew checks on it, in that manner withdrawing in singal day. The officers feared run SO ordered the bank closed.
9.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.
10.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
11.July 12, 1925Morning ExaminerBartlesville, OK
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Article Text
Three County Women Go To Judging School school women of county
BANK REOPENS
The National received bank Liberty State the Hugo Hugo State bank The of and a surplus capital larger be The very few vithdrawals today and deposits were received it to Cleaning it of Phone and
HEADS BAPTIST NION INDIANAPOLIS. July Singleton, private secretary packer, Saturday in convention here. Singleton, opposed the succe:
SHOWERS FALL IN STATE Scattered showers throughout the west and central sections of the tate last Saturday, promised temporary relief from the intense heat the past week and broke a drouth of considerable duration. The rainfall here was accomp anied by lightning which interrupt ed electric light to Norman few minutes when lightning struck a line No further dam reported At Enid the mercury fell 28 de grees in less than an hour, declin ing to 72 degrees The rainfall there continued for more than two hours. Light showers were also report water and Fairview
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.
