12934. Silver City National Bank (Silver City, NM)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
3539
Charter Number
3539
Start Date
January 1, 1924*
Location
Silver City, New Mexico (32.770, -108.280)

Metadata

Model
gpt-5-mini
Short Digest
60296384bcc0e0d2

Response Measures

None

Receivership Details

Depositor recovery rate
50.0%
Date receivership started
1924-05-14
Date receivership terminated
1925-04-30
OCC cause of failure
Economic conditions
Share of assets assessed as good
19.3%
Share of assets assessed as doubtful
31.0%
Share of assets assessed as worthless
49.7%

Description

Multiple articles report the Silver City National (NM) closed its doors in early Feb 1924 (suspension in January 1924 is explicitly mentioned). Later reporting (1925) references a receiver (K. Ricker) and litigation over the bank's assets, and arrangements for First National to handle assets โ€” consistent with a suspension followed by permanent closure/receivership. OCR errors corrected where obvious (e.g., dates and phrasing). No clear contemporaneous description of a depositor run in the texts provided; therefore classified as suspension -> closure with receivership.

Events (5)

1. July 22, 1886 Chartered
Source
historical_nic
2. January 1, 1924* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed due to insolvency/liabilities (combined liabilities of local institutions reported about $3,000,000); state examiner asked to take charge of local banks after their close, indicating failure rather than a mere rumor-driven run.
Newspaper Excerpt
Three banks in Silver City, N. M., closed their doors last week. They were the Silver City National...
Source
newspapers
3. May 14, 1924 Receivership
Source
historical_nic
4. March 24, 1925 Other
Newspaper Excerpt
Phillips day granted the request of receiver of Silver City bank, assets of that be the First of Silver City provided contract Mr. Cox Walton mentioned committees of the of City visitor the Mr. Walton First National bank of Silver City (Albuquerque Journal, 1925-03-24).
Source
newspapers
5. March 24, 1925 Receivership
Newspaper Excerpt
S. W Straus and Co. ... has filed suit ... vs. K. Ricker receiver of the Silver City National Bank ... asking judgment ... declared a preferred claim against the assets of the Silver City National Bank of Silver City. ... the bank suspended January 1924 ... to pay over this deposit. (Santa Fe New Mexican, 1925-03-24).
Source
newspapers

Newspaper Articles (4)

Article from The Colorado Statesman, February 2, 1924

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Article Text

CONDENSED RECORD OF THE PROGRESS OF EVENTS AT HOME AND ABROAD FROM ALL SOURCES < SAYINGS, DOINGS, ACHIEVEMENTS, SUFFERINGS, HOPES AND FEARS OF MANKIND WESTERN Catholic society of the of the Holy in and operating twelve 2,000, Sisters The Mary, Roman Names schools of of Jesus Oregon with an enrollment attack recently filed a brief in an attend- on compulsory public school Federal ance the law, now before the Court. A startling assertion by Clarence Greer, Conlin, attorney for Horace A. charged chauffeur for Mabel Normand, Courtwith having shot and wounded have land S. Dines, that Greer may not confesdone the shooting, despite his sensasion to police, injected a new tion into the Los Angeles case. The Sinclair Oil Company's pipe for conveying oil from the Wyoming comfields through Nebraska was across at Kearney when a link finished. pleted Platte river there was the line runs south from Kearney, Mo., The connecting at Fremont, line. with finally the Oklahoma-Chicago pipe would Millions of barrels of crude oil equaling required to develop power through be that going to waste every year resources failure to develop the power Chandler, the Colorado river, Harry Times, of of the Los Angeles Develpublisher declared before the California in Coropment Association convention onado, near San Diego. Three banks in Silver City, N. They M., their doors last week. the Silclosed the Silver City National, Ameriwere City Savings bank and the after the ver National bank. Soon bank excan of the banks the state of close was asked to take charge instiaminer Bank of Tyrone, N. M. The had comthe all in Grant county, $3,000,tutions, liabilities estimated at of 000, bined according to their statements Dec. 31 last. to homestead and public desert Opening entry of 14,455 acres of counland in Washakie and Big Horn 20, has land ties, Wyoming, beginning at the Interior Feb. Debeen announced at Washington. Adjoining a prepartment and patentees have within the entrymen right on the tracts World ference and ex-service men of preference, the area have a ninety-one day will be war which unentered land public. after thrown open to the general Lander The champion eater Battalago, of is Nevada, Leon Lander county, The only patient in the Battalago dead. hospital for a year, meal was county to think that every eight or seemed one. A breakfast of four or his last half a louf of bread, off with ten eggs, of coffee, topped was comfive cups to twenty hot cakes, also was a fifteen The heavy eater scales at 300 heavyweight, mon. tipping the said pounds. The county physician death was due to overeating. WASHINGTON the bill for the Nearly $750,000,000 is carried Treasury in and annual Postoffice supply Departments reported commitby the House amount appropriation is $729,858,451 total tee. increase The exact of $18,476,889 over departappropriations an for the two year, but the current fiscal estimates. ments for less than budget time , to a $5,447,696 President Coolidge for the bill first passed affixed Congress. his signature It was an act widow giving of Mrs. the . the President, by Florence Kling Harding, congressional she can franking late privilege-so that mails without use the United States the payment of postage. right of a state to borders prevent from naThe banks within its establishtional branch banking Supreme establishing was upheld by the time ruled , ments which at the same conCourt, the same prohibition was themthat in the federal statutes which tained The court's decision, shaken . settles selves. a controversy that has months, banking world for many case of the the handed down in the Louis. The was National Bank of St. Missouri First demurred from a establishbank had prohibiting it from the lower state branches, law and, losing in The deing Court, had appealed. affirmed. Federal of the lower court was reduccision rate of 25 per cent for the was defiA income taxes tion in earned by the House ways of nitely decided upon Recognition means committee. reducand income taxes for special Mellon, earned suggested by Secretary the comtion, approved as yesterday by Garner of mittee. was Representative the Democratic rate tax proposed that the Texas, plan, author of cent. reduction be placed at 33 1-3 per . last agents in their efforts and Federal the prohibition year narcotic to laws enforce spent buying $205,658 "evidence." of gov- funds in Assistant Proernment This total was given by Jones in testihibition Commissioner House appropriation before the recommended that mony which prohibition , committee, set aside for fiscal $10,628,770 enforcement be during the coming year


Article from The Dolores Star, February 8, 1924

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Article Text

CAUGHT FROM THE NETWORK OF WIRES ROUND ABOUT THE WORLD DURING THE PAST WEEK RECORD OF IMPORTANT EVENTS CONDENSED FOR BUSY PEOPLE WESTERN Five prisoners escaped from the Colfax county jail at Raton, N. M., by sawing their way out. The Roman Catholic society of the Sisters of the Holy Names of Jesus and Mary, operating twelve schools in Oregon with an enrollment of 2,000, recently filed a brief in an attack on the compulsory public school attendance law, now before the Federal Court. Acting on formal charges of misconduct filed in the office of City Clerk M. F. Mann, the city council of Miles City, Mont., suspended Mayor B. J. Brasen from office pending an Investigation of the charges and fixed Wednesday, Feb. 13, as the date for a hearing. W. H. Reed, president of the council, was designated as acting mayor in the interim to follow. Three banks in Silver City, N. M., closed their doors last week. They were the Silver City National, the Silver City Savings bank and the American National bank. Soon after the close of the banks the state bank examiner was asked to take charge of the Bank of Tyrone, N. M. The institutions. all in. Grant county, had combined liabilities estimated at $3,000,000. according to their statements of Dec. 31 last. Opening to homestead and desert land entry of 14,455 acres of public land in Washakie and Big Horn counties, Wyoming, beginning Feb. 20. has been announced at the Interior Department at Washington Adjoining entrymen and patentees have a preference right on the tracts within the area and ex-service men of the World war have a ninety-one day preference, after which unentered land will be thrown open to the general public. Though fire, blown by a sweeping gale, was almost upon him, Ensign Thomas John Ryan of New Orleans, knelt by the side of an American woman pinned beneath the wreckage of a hotel room in Yokohama during the Japanese earthquake and vowed he would save her or die. Hours later he delivered the injured woman to the doctor aboard the steamship Empress of Australia. For this Ryan was honored by Congress and the Navy Department on his arrival in San Francisco aboard the transport Thomas. A medal of honor for valor was bestowed upon him by Rear Admiral Simpson. commandant of the twelfth naval district, and a lieutenant's commission was awarded him.


Article from Albuquerque Journal, March 24, 1925

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Article Text

LOCAL ITEMS Phillips day granted the request of receiver of Silver City bank, assets of that be the First of Silver City provided contract Mr. Cox Walton mentioned committees of the of City visitor the Mr. Walton First National bank of Silver City. cashier in the office of the collector of internal revenue here. been confined to his bed for the past week with influenza and threatened was Monday being considerably better. His physician It will be eral days before he will be out of bed. Robert A. special supreme agent of the Knights of Columbus, will be here Wednesday from his headquarters in San Francisco and will make an dress at special meeting of the of the order on Wednesday evening. lunch and a smoker will be features of the Mrs. Mary Benson and Mrs. Ida Johnson mother and aunt of Miss Ida Benson, who have been visiting Mrs. Benson at 315 West Lead for the past two months will this afternoon on their return to their homes in Governor Hannett and wife, who were in the city Monday evening to attend the opening of the AIbuquerque public library, left for Gallup. Emmett Vaughey was operated upon for appendicitis the St. Jo. seph's hospital Monday. Mrs. E. H. Wells of Socorro wife of the president of the New Mexico School of Mines, is in the city for brief Governor Hannett arrived Monday night rom Santa Fe to attend the formal opening of the new city library. Mrs. P. Kane is here from Portales. R. Archuleta of Denver, is here on Miss M. E. Sturgeon of Kansas City here on business for the chautauqua. Mr. and Mrs. W. Becker of Springerville, Ariz., are in Albuquerque, stopping at the Franciscan hotel. Gustave Baumann. Santa Fe art. 1st who decorated the interior of the new library. was guest the Alvarado hotel Monday night Mr. Baumann came here to attend the formal opening of the new building. Julius Becker, Sprinerville, Ariz. merchant, was in Albuquerque Monday on his way home from Washington and St. Louis. A. Trossello filed suit against Juan Pacheco and Gregorio Chavez in district court Monday on a promissory note for $186.95. F. McLaughlin and company filed suit against the N. Luciani Mercantile company for alleged to due for Miss Clara Smith of the district forest has been detailed to the Manzano forest office this E. W. Loveridge of the district forest office is attending fire conference in the Datil national forest of New Mexico. Tom Hughes, Woodford Heflin and Francis Ebner. members the university debating team which lost to the University of South California last Thursday night returned to Albuquerque Monday Fred Winn, supervisor of the Gila forest. and R. Painter ranger in Albuquerque Monday on their home from Santa Fe where they have been testify ing in the case Involving group of Albuquerque bank.


Article from The Santa Fe New Mexican, March 24, 1925

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Article Text

SUITS FILED THE FEDERAL COURT S. W Straus and Co., corporation. has filed suit in the U. district clerk's office here VS. K. Ricker receiver of the Silver City National Bank. national banking corporation. on removal from Grant county asking judgment for $1,002.39 asking also that said judgment declared a preferred claim against the assets of the Silver City National Bank of Silver City SANDOVAL CO. SUES SURETY CO. FOR $17,000 State the benefit of the County of Sandoval the National Surety Company New York. for $17,500 over bond. is charged that the treasurer of San doval county M. Dominguez, de posited this money in the bank and that this balance remained when the bank suspended January 1924 to over this deposit. pay