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BANK FAILURES HAVE NOT BEEN LISTED LATELY
Pottawatomie County's Luck Seems to Have Changed; Conditions Better
(News Capital Bureau)
OKLAHOMA CITY, Feb. 23.—Pottawatomie county has had its share of state bank failures, but none since the failure of the Home State bank at Tecumseh in November, 1928, according to records of the state banking department.
In 1924 there were two failures, the Dale State bank of Dale and the Farmers State bank of Asher. Later there was the failure of the Security State bank at Wanette.
Bank failures in Oklahoma have decreased considerably since 1927, when there was a goodly number. Many national bank failures were registered too, according to C. G. Shull, state bank commissioner, in telling that state banks were not the only ones to experience difficulties. After the credit and financial stringency of the 1920-21 period had passed, business became better stabilized in all sections of Oklahoma.
Crop failures injured banks in the cotton regions though.
Though huge sums of money were lost when the banks failed in many counties of the state, including Pottawatomie, millions of dollars have been returned to depositors as a result of the activities of the liquidating agents, Shull said.
In some cases the depositors did not receive as much money as was thought possible to distribute from the assets because of the large amounts of preferred and secured claims that had to be taken care of, having a priority of settlement.
Liquidation of failed Pottawatomie county banks is not closed yet, bringing the prospect there will be more dividends for former depositors, the records indicated.
