Mr. Huffman owned a dry goods store and grocery store in Caddo. In 1917 he sold the dry goods stock to Ben Siegel, but remained in the grocery business.
The Caddo Herald
July 21, 1922
Liquidating Agent for Insolvent Bank
H. G. Huffman has been appointed liquidating agent for the Oklahoma State Bank of Caddo, being checked in Tuesday and Wednesday by a representative of the Bank Commissioner.
Mr. Huffman is proceeding at once to the liquidating of the bank’s affairs. He is well known to Caddo people, having lived here 24 years, so (he) knows the people pretty well.
Quite a number have asked what a “liquidating agent” is and what he does. He simply takes charge of all the bank’s property, money, notes, and disposes of them to the best interests of the depositors. The money, as it is collected, is held for the depositors and is distributed to them at various times as the collections justify- to all alike. In some cases it requires quite a lot of time to do this. The matter of paying depositors depends upon how fast the collections come in. Under the Oklahoma law if the notes and effects do not pay the depositors in full, then the stockholders are liable to the amount of the stock, and the guaranty fund for the rest.
Thus it may take some time to close up these affairs, but in the end the depositors are reasonably sure of getting all their money.