14413. National Bank (Carlsbad, NM)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
6884
Charter Number
6884
Start Date
January 2, 1924
Location
Carlsbad, New Mexico (32.421, -104.229)

Metadata

Model
gpt-5-mini
Short Digest
95e7cc86

Response Measures

None

Receivership Details

Depositor recovery rate
18.5%
Date receivership started
1924-02-06
Date receivership terminated
1929-08-31
OCC cause of failure
Economic conditions
Share of assets assessed as good
62.7%
Share of assets assessed as doubtful
18.9%
Share of assets assessed as worthless
18.4%

Description

The National Bank of Carlsbad closed its doors January 2, 1924 and was placed in receivership; liquidation continued through 1925 and claims were being paid (dividend) in 1929. No run is described in the articles. Receiver changes (McConhie, then Sellmeyer; later Rawlings) are documented in the articles.

Events (5)

1. July 15, 1903 Chartered
Source
historical_nic
2. January 2, 1924 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank is described as having failed and closed its doors (insolvency/liquidation); referenced in context of earlier financial panics and failed banks in the region.
Newspaper Excerpt
the National of this city. was this week and in making his escape the man asked to finish the work of Recei Collins ... the National Bank of Carlsbad which closed its doors January 2nd. 1924
Source
newspapers
3. February 6, 1924 Receivership
Source
historical_nic
4. March 5, 1925 Receivership
Newspaper Excerpt
The taking over of the assets of the National Bank of Carlsbad by Mr. Sellmeyer ... will materially reduce the expense of administration of the affairs of the failed bank, the liquidation of which will probably go on over period of years. (article date 1925-03-05).BANK CLAIMS TO BE PAID (1929-07-19) notes receiver Rawlings distributing dividends to claimants. )
Source
newspapers
5. July 19, 1929 Other
Newspaper Excerpt
Checks in payment of an 8½ per cent dividend on all claims against the National Bank of Carlsbad are ready for immediate distribution, A Rawlings, receiver, announced today All claimants must present their receiver's certificate ... The checks will be given out at Mr. Rawlings' office at any time during the next thirty days, and after that time will be returned to Washington (Carlsbad Current-Argus, 1929-07-19).
Source
newspapers

Newspaper Articles (2)

Article from Carlsbad Current-Argus, March 5, 1925

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Article Text

SELLMEYER RECEIVER OF ANOTHER BANK Receiver of Defunct Banking Institutions at Carlsbad, Hope and Lovington Will Close Affairs of National Bank of Carlsbad. G. H. Sellmeyer. who is liquidat ing the assets of the First National Bank of Hope, the first bank of Eddy county to go under in the financial panie of 1921.) the First" ions: likewise. the jump from the National of Lovington and the First window is an unusually long one National of this city. was this week and in making his escape the man asked to finish the work of Recei Collins is said to have lighted ver McConhie in liquidating the squarely in front of passing assets of the National Bank of woman. who screamed and ran the Carlsbad which closed its doors other way Collins rolling across January 2nd. 1924 and has taken the payement and onto the lawn. the Receiver McConhie go to escape until about 12 o'clock the Clarksville Texas. where he will same night."and at once tonk up he net as receiver of a bank of that hunt for trace of the escaping men. place which recently closed its but after- continuing the search doors. and unless a failed bank at over Tuesday returned and have Bogata Texas, near Clarks ille. is no trace of any of the prisoners reorganized. will also act as receiver except the reported arrest of two for a failed bank in the last named Mexicans at Van Texas city Sam Lusk who has been assistant to Mr. McConhie in his receivership here, will accompany the latter to Clarksville, and both gentlemen and their families expect to leave for Clarksville the latter part of this week, or first of next week The taking over of the assets of the National Bank of Carlsbad by Mr. Sellmeyer in connection with his receivership of the other three, will materially reduce the expense of administration of the affairs of the failed bank, the liquidation of which will probably go on over period of years. A very regretable feature con- trousers nected with the change in receivers is the necessity for removal from Carlsbad of Mr McConhie and Sam Lusk and their families, Mr. and Mrs. McConhie having made host of warm personal friends during their residence of year, while Sam has lived among us all his life and his moving will be source ment. of keen regret among his life-long associates. for all are his personal friends. The Argus wishes both BILL men and their families a pleasant stay in their, new location. Scott Etter. of Carlsbad. was made foreman of the United States grand jury which convened at Santa Fe the first of the week. Died. Thursday night of last week at Eddy County Hospital. Cecil A White. of Columbus. Ohio. of tuberculosis The remains were taken to his home town for burial, aceompanied by his mother who was with him at the time of his death The deceased came to Carlabad about two weeks ago seeking relief from the dread disease from which he died.


Article from Carlsbad Current-Argus, July 19, 1929

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Article Text

BANK CLAIMS TO BE PAID Checks in payment of an 8½ per cent dividend on all claims against the National Bank of Carlsbad are ready for immediate distribution, A Rawlings, receiver, announced today All claimants must present their receiver's certificate. issued at the time the claim was filed. before receiving payment The checks will be given out at Mr. Rawlings' office at any time during the next thirty days, and after that time will be returned to Washington