Article Text
Bank Receiver Appointed PHARR, Nov. 20-(Sp)-W. W. Collier of Edinburg has been appointed receiver for the defunct First Na ional bank of Phare and liquidatio: is scheduled to start soon, according to reliable reports here today.
First National Bank (Pharr, TX)
Episode Information
- Episode Type
- Suspension → Closure
- Start Date
- November 12, 1931
- Location
- Pharr, Texas (26.195, -98.184)
- Bank Type
- national
- Charter Number
- 10169
Metadata
Receivership Details
- Depositor recovery rate
- 33.0%
- Date receivership started
- 1931-11-12
- Date receivership terminated
- 1937-08-20
- Share of assets assessed as good
- 20.8%
- Share of assets assessed as doubtful
- 63.4%
- Share of assets assessed as worthless
- 15.9%
Notes
The articles confirm the bank was defunct and under receivership by November 1931; no evidence of a run is present in the provided text.
Events (5)
1.
April 2, 1912
Chartered
- Source
- historical_nic
2.
November 12, 1931
Suspension
- Cause Details
- Bank declared defunct and placed in receivership; specific trigger not mentioned in articles.
- Newspaper Excerpt
- W. W. Collier of Edinburg has been appointed receiver for the defunct First Na ional bank of Phare
- Source
- newspapers
3.
November 12, 1931
Receivership
- Newspaper Excerpt
- W. W. Collier of Edinburg has been appointed receiver for the defunct First Na ional bank of Phare and liquidatio: is scheduled to start soon
- Source
- newspapers
4.
November 12, 1931
Receivership
- Source
- historical_nic
5.
February 13, 1935
Other
- Newspaper Excerpt
- Ben Freudenstein, receiver for the Merchants National Bank of Brownsville, has been named also as receiver for the defunct First National Bank of Pharr.
- Source
- newspapers
Newspaper Articles (10)
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Article Text
Freudenstein Named Pharr Bank Receiver Ben Freudenstein, receiver for the Merchants National Bank of Brownsville, has been named also as receiver for the defunct First National Bank of Pharr. The duties will be added to his duties as receiver for the Brownsville bank. He succeeds W. W. Collier, former state banking commissioner.
Article Text
Freudenstein Named Pharr Bank Receiver Ben Freudenstein, receiver for the Merchants National Bank of Brownsville, has been named also as receiver for the defunct First National Bank of Pharr. The duties will be added to his duties as receiver for the Brownsville bank. He succeeds W. W. Collier, former state banking commissioner. It is estimated that 500,000,000 pounds of explosives are used in this country annually. There are millions of Chinese in northwestern China who have never tasted nor seen rice.
Article Text
RAINS CHECK OIL ACTIVITY (Special to The Herald) MISSION, Feb. 13.—Heavy rains throughout Hidalgo county resulted in a slight slackening of activity in the Samfordyce field Tuesday but six rigs in the area continued drilling. Five rigs were busy in the field proper and a wildcat seeking the Samfordyce saturation was shut down at 2,734 feet while awaiting fuel oil. In the southwest corner of the field, Cortez (Weekley) Oil Corporation's No. 3 C. E. Smith, in the northeast 34.43 acres of tract 278, porcion 40, about 2,950 feet southeast of discovery, is drilling at 1,030 feet. In the same vicinity, Windsor Oil Company's No. 2 Dr. J. M. Doss, in the west 55 acres of the northeast 92.88 acres of tract 278, porcion 40, about 4,000 feet southeast of discovery, drilled plug in surface casing Tuesday night and began making hole. Near the center of production, Showers & Moncrief's No. 3-B John Lawrence, in the northeast 13.5 acres of Tract 274, porcion 39, about 1,600 feet east of discovery, topped the upper gas sand at 2,761 feet and was coring Wednesday. About 2,700 feet northwest of discovery, Navarro Oil company's No. 3 Seabury et al, in the northwest corner of the north 25 acres of the southeast 51 acres of tract 256, porcion 38, is bottomed at 2,771 feet in a new hole sidetracked at 2,500 feet out of the original hole. Seat failed to hold Tuesday afternoon for a drill stem test and another attempt will be made to get a test of the formation at 2,765-71 feet. The original hole had the Samfordyce saturation at 2,764-71 feet but it was lost because of salt water. Nearly 6,500 feet northwest of discovery, E. B. Van Huss' (formerly listed as F. D. Vernon's) No. 1 Garcia Land and Livestock company, is shut down until roads to the test become passable for trucks bringing in fuel oil. Corrected depth on the test is 2,746 feet and it is reported to be in red clay. It will resume coring as soon as fuel oil can be trucked to the lease. Location is 330 feet from the east line of porcion 100, Ancient Jurisdiction of Reynosa, southeastern Starr county, and 2,717 feet south of State Highway 4. About two miles east of the Samfordyce field, Harrison-Medlin-Daskam's No. 1 Garcia Land and Livestock company, about 330 feet north of the Old Military Highway and 950 feet from the west line of porcion 42, Ancient Jurisdiction of Reynosa, is dry and abandoned at 3,205 feet. The test failed to pick up either the Samfordyce sand or a sand which showed for oil production at around 3,050 feet in the old Chancellor-Hall test a few hundred feet west. Relief Headquarters Presented With Clock They don't have a steam whistle at Cameron County Relief headquarters in the McDavitt building, but they now have a clock. Geo. White, Cameron county relief administrator, Wednesday acknowledged with thanks the presentation of an alarm clock to headquarters by I. Dorfman's jewelry store. Chief Deputy Sheriff William Cabler, learning that the new administrator had no letter opener, and no funds from which one could be provided, presented the office with one. Freudenstein Named Pharr Bank Receiver Ben Freudenstein, receiver for the Merchants National Bank of Brownsville, has been named also as receiver for the defunct First National Bank of Pharr. The duties will be added to his duties as receiver for the Brownsville bank. He succeeds W. W. Collier, former state banking commissioner. It is estimated that 500,000,000 pounds of explosives are used in this country annually. There are millions of Chinese in northwestern China who have never tasted sea food.
Article Text
Freudenstein Named Pharr Bank Receiver Ben Freudenstein, receiver for the Merchants National Bank of Brownsville, has been named also as receiver for the defunct First National Bank of Pharr. The duties will be added to his duties as receiver for the Brownsville bank. He succeeds W. W. Collier, former state banking commissioner. It is estimated that 500,000,000 pounds of explosives are used in this country annually. There are millions of Chinese in northwestern China who have never tasted nor seen rice.
Article Text
Chief Deputy Sheriff William Cabler, learning that the new administrator had no letter opener, and no funds from which one could be provided, presented the office with one. Freudenstein Named Pharr Bank Receiver Ben Freudenstein, receiver for the Merchants National Bank of Brownsville, has been named also as receiver for the defunct First National Bank of Pharr. The duties will be added to his duties as receiver for the Brownsville bank. He succeeds W. W. Collier, former state banking commissioner. It is estimated that 500,000,000 pounds of explosives are used in this country annually. There are millions of Chinese in northwestern China who have never tasted nor seen rice.
Article Text
RAINS CHECK OIL ACTIVITY (Special to The Herald) MISSION, Feb. 13.—Heavy rains throughout Hidalgo county resulted in a slight slackening of activity in the Samfordyce field Tuesday but six rigs in the area continued drilling. Five rigs were busy in the field proper and a wildcat seeking the Samfordyce saturation was shut down at 2,734 feet while awaiting fuel oil. In the southwest corner of the field, Cortez (Weekley) Oil Corporation's No. 3 C. E. Smith, in the northeast 34.43 acres of tract 278, porcion 40, about 2,950 feet southeast of discovery, is drilling at 1,030 feet. In the same vicinity, Windsor Oil Company's No. 2 Dr. J. M. Doss, in the west 55 acres of the northeast 92.88 acres of tract 278, porcion 40, about 4,000 feet southeast of discovery, drilled plug in surface casing Tuesday night and began making hole. Near the center of production, Showers & Moncrief's No. 3-B John Lawrence, in the northeast 13.5 acres of Tract 274, porcion 39, about 1,600 feet east of discovery, topped the upper gas sand at 2,761 feet and was coring Wednesday. About 2,700 feet northwest of discovery, Navarro Oil company's No. 3 Seabury et al, in the northwest corner of the north 25 acres of the southeast 51 acres of tract 256, porcion 38, is bottomed at 2,771 feet in a new hole sidetracked at 2,500 feet out of the original hole. Seat failed to hold Tuesday afternoon for a drill stem test and another attempt will be made to get a test of the formation at 2,765-71 feet. The original hole had the Samfordyce saturation at 2,754-71 feet but it was lost because of salt water. Nearly 6,500 feet northwest of discovery, E. B. Van Huss' (formerly listed as F. D. Vernon's) No. 1 Garcia Land and Livestock company, is shut down until roads to the test become passable for trucks bringing in fuel oil. Corrected depth on the test is 2,745 feet and it is reported to be in red clay. It will resume coring as soon as fuel oil can be trucked to the lease. Location is 330 feet from the east line of porcion 100, Ancient Jurisdiction of Reynosa, southeastern Starr county, and 2,717 feet south of State Highway 4. About two miles east of the Samfordyce field, Harrison-Medlin-Daskam's No. 1 Garcia Land and Livestock company, about 330 feet north of the Old Military Highway and 950 feet from the west line of porcion 42, Ancient Jurisdiction of Reynosa, is dry and abandoned at 3,205 feet. The test failed to pick up either the Samfordyce sand or a sand which showed for oil production at around 3,050 feet in the old Chancellor-Hall test a few hundred feet west. Relief Headquarters Presented With Clock They don't have a steam whistle at Cameron County Relief headquarters in the McDavitt building, but they now have a clock. Geo. White, Cameron county relief administrator, Wednesday acknowledged with thanks the presentation of an alarm clock to headquarters by I. Dorfman's jewelry store. Chief Deputy Sheriff William Cabler, learning that the new administrator had no letter opener, and no funds from which one could be provided, presented the office with one. Freudenstein Named Pharr Bank Receiver Ben Freudenstein, receiver for the Merchants National Bank of Brownsville, has been named also as receiver for the defunct First National Bank of Pharr. The duties will be added to his duties as receiver for the Brownsville bank. He succeeds W. W. Collier, former state banking commissioner. It is estimated that 500,000,000 pounds of explosives are used in this country annually. There are millions of Chinese in northwestern China who have never tasted nor seen rice.
Article Text
Relief Headquarters Presented With Clock They don't have a steam whistle at Cameron County Relief headquarters in the McDavitt building, but they now have a clock. Geo. White, Cameron county relief administrator, Wednesday acknowledged with thanks the presentation of an alarm clock to headquarters by I. Dorfman's jewelry store. Chief Deputy Sheriff William Cabler, learning that the new administrator had no letter opener, and no funds from which one could be provided, presented the office with one. Freudenstein Named Pharr Bank Receiver Ben Freudenstein, receiver for the Merchants National Bank of Brownsville, has been named also as receiver for the defunct First National Bank of Pharr. The duties will be added to his duties as receiver for the Brownsville bank. He succeeds W. W. Collier, former state banking commissioner. It is estimated that 500,000,000 pounds of explosives are used in this country annually. There are millions of Chinese in northwestern China who have never tasted nor seen rice.
Article Text
Ben Freudenstein Now Pharr Bank Receiver PHARR, Feb. 14—Ben F. Freudenstein, Brownsville, receiver for the Merchants National bank of that city, has also been appointed receiver for the now defunct First National bank of Pharr, according to notices received here today. W. W. Collier, former state banking commissioner, was in charge of the receivership here until Freudenstein was appointed.
Article Text
PHARR, Feb. 14—Ben F. Freudenstein, Brownsville, receiver for the Merchants National bank of that city, has also been appointed receiver for the now defunct First National bank of Pharr, according to notices received here today. W. W. Collier, former state banking commissioner, was in charge of the receivership here until Freudenstein was appointed.