12862. Exchange Bank (Carrizozo, NM)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
state
Start Date
October 1, 1923*
Location
Carrizozo, New Mexico (33.642, -105.877)

Metadata

Model
gpt-5-mini
Short Digest
9e7a6d2b24821cdf

Response Measures

None

Description

Articles identify the Exchange Bank of Carrizozo, N.M. and state the bank failed October 1923 and that A. D. Brownfield was the receiver. The pieces discuss deposits of Liberty bonds in March 1923 but contain no description of a depositor run prior to suspension; therefore this is classified as suspension leading to closure/receivership. I correct no bank name or city spelling. Cause assigned as government_action because a receiver was appointed.

Events (2)

1. October 1, 1923* Receivership
Newspaper Excerpt
A. D. Brownfield, receiver for the Exchange bank of Carrizozo, New Mexico, then identified slips showing liberty bond deposits in ... bank. The bank failed October 1923 was stated in court proceedings above (Wright ... said the reason ...).
Source
newspapers
2. October 1, 1923* Suspension
Cause
Government Action
Cause Details
Bank failure resulted in appointment of a receiver (A. D. Brownfield identified as receiver).
Newspaper Excerpt
The bank failed October 1923.
Source
newspapers

Newspaper Articles (2)

Article from Evening Star, October 28, 1927

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Article Text

# EVERHART REFUSAL TO TESTIFY # UPHELD BY JUSTICE SIDDONS (Continued from First Page.) Roberts, bearing on financial rela- tionships between Fall and Sinclair and the Tres Ritos Cattle & Land Co. The witness balked on one ques- tion but answered after the court directed him to do so. The five questions which Everhart refused to answer on the ground of self-incrimination were: "Do you know of any loan to the Tres Ritos Cattle Co. made by Sin- clair in 1922?" "Do you know of any loan to Fall by Sinclair in 1922?" "Did you pay any bills for freight on cattle while in Sinclair's office in New York in 1922?" "Do you know of any transaction since February 1, 1922, between the Tres Ritos Cattle Co. and Sinclaire?" "For whom were you trustee of the 33 shares mentioned in this sheet?" This latter question dealt with a stock certificate of the land and cattle company upon which were written in Fall's handwriting "certificate of col- lateral, M. D. Thatcher, Pueblo Colo." Refusals Sustained Again. A Government witness yesterday, who is an official of the Thatcher estate, testified the estate held some stock of the Tres Ritos Co. as col- lateral for an advanced loan. When Roberts sought to have the witness identify the handwriting he declined to answer, but Justice Siddons ruled that he should answer it. Whereupon he said, "Secretary Fall's, I think." Justice Siddons upheld the conten- tion of the witness that he should not answer the other five questions and he was finally excused. It cost the Government $253.40 to have Everhart refuse to answer ques- tions which the prosecutors deemed vital to their case. The witness col- lected that amount from United States Marshal Edgar C. Snyder after the left the stand. He has been in at- tendance on the court for 14 days at $2 per day, making a $28 witness fee. He was paid $3 a day for his subsist- ence for 16 days, including Saturday and Sunday when court was not in ses- sion, making another $48, and his mile- age fee amounted to $177.40, totaling $253.40. Everhart left this afternoon for Pueblo, Colo., his residence. Following Everhart's testimony Roberts produced numerous banking officials and employes and delved into the distribution of the $90,000 in Lib- erty bonds which turned up in Pue- blo, Colo., in May, 1922, in the hands of Everhart, according to evidence submitted yesterday. From the wit- nesses he obtained banking records referring to deposits of Liberty bonds and coupons, but when the noon recess was reached he had not connected these up coherently for the jury. From the testimony and document- ary evidence produced by the wit- nesses, it was shown that on Novem- ber 22, 1922, Liberty bonds in the amount of $15,150 were deposited in the First National Bank of Texas to the credit of Fall, and that on October 21 of the same year $5,000 in Liberty bonds were deposited to the defend- ant's account. Witnesses from this bank-J. E. Benton, vice president and cashier, and I. Gonzales, receiv- ing teller-testified that the numbers were recorded. Fall personally did not make the deposit, they said. On March 30, 1923, Liberty bonds in the amount of $50,000 were deposited in the Exchange Bank of Carrizozo, N. Mex., to the account of Fall. In addition, coupons valued at $875 were deposited. Proof of this action was given by A. D. Brownfield of El Paso, receiver for the bank at that time; R. E. Lemon of Carrizozo, then as- sistant cashier, and B. S. Thurmond, an employe, now living in Hatch, N. Mex. Testimony that 90 coupons of the first Liberty loan 3ยฝ per cent were forwarded to the Federal Reserve Branch Bank, in Denver, in October, 1922, from the First National Bank of Pueblo, where $90,000 were deposited by Everhart in May, 1922, according to evidence yesterday, was given by B. A. Carlisle, assistant cashier of the bank, and Mrs. H. J. Smith of Pueblo, then a clerk in that institution. J. E. Olson, managing director of the Den- ver Reserve Branch Bank, gave testi- mony and documentary evidence that the coupons were received. Roberts next produced a receipt de- livered by Olson for $300,000 in Liberty bonds purchased from brokers for the Continental Co. by the Dominion Bank. This documentary evidence was pro- duced by Hector G. Henderson of Mon- treal, an employe of the Dominion Bank of Montreal, in whose New York agency the Continental Co. maintained an account. Various items entered into the ledger on April 13, 1922, showed pur- chases made for the Continental Co. of $300,000 of first United States Lib- erty bonds. The first entry showed purchase of $100,000 in bonds from Solomon Brothers, the second entry $100,000 worth from Walter Brothers and two additional entries of $50,000 each from Rhoades & Co. Henderson testified that he had made a note of the numerical numbers of each bond in the regular form and locked up in safe. "To whom were they delivered?" asked Roberts. "They were delivered to Olson on May 8," was the reply. "Did you get a receipt?" Produces Receipt for Bonds. Henderson produced a receipt from the Dominion Bank's agency in New York signed by Olson. "Where was the delivery made " Roberts asked. "To the agents in New York." "Olson carried the bonds away," Henderson testified. "How were they wrapped?" "They were wrapped in brown pa- per, in a bundle," Henderson replied. At this point the coart interrupted examination of the witness, the hour of recess having arrived. Just before Roberts had hooked up the delivery of the bonds to Olson sev- eral other bank employes were put on the stand to identify Liberty bonds deposited in their banks. These witnesses included Mrs. Martha Anderson and Marguerite Trada of the Denver Federal Reserve Branch Bank. Preparing the way to producing evidence of the bonds delivered to Olson, Roberts put on the stand Rob- ert Ray of New York, employe of the New York agency of the Dominion Bank of Canada. "Did the Continental Trading Co. have an account with you?" Roberts asked. "It did," Ray replied. Ledger sheets of the account were produced to show Liberty bond secu-


Article from New Britain Herald, April 11, 1928

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Article Text

U e MOVING RAPIDLY (Continued From First Page) trial. His attorneys told the court the when their motion to dismiss first contempt proceedings was de nied. that the Denver Oil man would not need the second subpoena. Blackmen was wanted to tell of the "ontinental Trading company liberty sour of whose profits in bonds reached Fall. Waldi Law III moving against Blackmer. the government proceeded under a law passed at the instance of Senator Walsh. of Montana. the senate Teanot prosecutor. making it possible witto so deal with reenleitrant mosses. When M. T. Everhart. son-in-law of Fall. resumed the witness stand today Daniel Thew. counsel for Sinclair. said he had no mor questions to ask. The government followed suit and Everhart was excused. Everhart yesterday told of having received $233,000 in liberty bonds to and $35,000 in cash from Sinclair be delivered to Fall or his ranch company. The bonds he said were for one third of the ranch and the in d cash for making improvements the property The next witness. J. E. Benton. n rice-president of the First National bank at El Paso. Texas. produced le various slips for deposits that Fall o made at that bank. The contents of " these slips were not divulged as In government counsel had them o marked for identification. show Bank Record : Benton also produced bank rec. of orde of various liberty bond pur19 chases. He was not cross examined of by the defense d The El Paso banker was followed - in Igamacio Gonzale, of the same ty bank. who testified that the deposits " previously referred to had been of made in liberty bends. one group $15,050. and another of $5,500. Benton also produced bank records of various liberty bond purchases. He was not cross-examined E by the defense. The El Paso banker was followed by Iganacio Gonzalez. of the same d bank. who testified that the deposits been previously referred to had of made in liberty bonds. one group $15,050. and another of $5,500. Identifies Slips ss A. D. Brownfield, receiver for the n. Exchange bank of Carrizozo. New siMexico. then identified slips show. that ing liberty bond deposits in 01 s- bank. One of these was for $50.re it. 000. L.T. Rule. assistant cashier of the First National bank of Pueblo. Col. n orado. was recalled. and said $20.or 000 in liberty bonds was received from Fall on October 23. 1922. and olproceeds were credited to the sa account the of the Tres Ritos Cattle and en Land Co., the Fall ranch. The derefense did not cross-examine Rule or Everhart had testified to the same transaction yesterday ry dOwen J. Roberts. special govern ment prosecutor. then offered in evi. dence ledger sheets from the First National bank at Pueblo showing accounts of Everhart. Faii. the slips Tres Ritos company. and deposit rs hn showing the receipt of liberty bonds ed from Fall and liberty bond deposits ad in the Exchange bank of Carrizozo nd and the First National bank at El ere Paso. Six witnesses passed over the to witness stand in less than 30 minux, utes. On defense objection the bank ennot tries were limited to dates named in arthe indictment. Thus the ledger insheets from December 31. 1921 and deian February 9. 1923. were all that were permitted to reach the jury. Roberts announced that the 50 bilernment might later go into the ac counts before and after the dates ent named in the indictments The were de pasit tickets and ledger sheets exhibited to the jury. This was slow work and the pro ce ceedings dragged alous as the jur examined them with interest. erObjects to Letter. In a the A.D. Brownfield receiver for ha th of Corrizozo Exchange bank. who bon. testified assto Fall's account. wa o the recalled to identify some entries are the ledger sheets which the defens rain wished explained. The bank faile October 1923. Wright. in hi opening in statement. said the reaso be Fall wanted liberty bonds was ony cause of bank failures in the south ohisucwest. Roberts offered in evidence a 10 oup Fall wrote to Edward L. Dohen o rom July ter 8. 1921. George P. Hoover. th ters Sinclair's counsel. objected to le letter on the grounds/that any talk ter by Fall could have no bearing T i charge against Sinclair. of dgecourt ordered it marked for identif th cation reserving his ruling on of objection. A letter Fall wrote July 23. 19 to Secretary Denby of the navy th ree sterto Roberts offered met the same Fa fa as did a letter Denby wrote fro July 22. 1921. and a letter t Denby to Fall on October 25. LE same year. aged Show Telegrams. t ruck There then were introduced hony bout telegrams exchanged in Decemb , 1921 between C. R. Safford. of road the interior department. and Fall rel Sincla tive to the trip planned by Serand his attorney. J. W. Zevely. t be Three Rivers. New Mexico, for first conference with Fall. and the Another travel voucher was D d he sented showing that Fall left Was No February 1. 1922 for ington returned to Washingt