Bank of Deming - Deming, NM

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 1, 1925*
Location: Deming, New Mexico (32.269, -107.759)

Metadata

Model: gpt-5-mini
Short Digest: 02a26a19

Response Measures

None

Description

Articles (June–July 1925) report the Bank of Deming suspended/closed and a receiver (A. A. Temke) was appointed and qualified; assets/distributions being handled. The press attributes primary causes to local economic distress (drought, low cattle prices). No explicit run of depositors is described in the articles, so classified as suspension leading to permanent closure/receivership.

Events (4)

1. June 1, 1925* Suspension

Cause: Local Shock
Cause Details: Hard economic conditions in the local economy — drought and low cattle prices cited as the basic cause of the bank's closing.
Newspaper Excerpt: These conditions caused the closing of the First National Bank, and another New Mexico bank that suspended on the same day as the Bank of Deming.
Source: newspapers

2. June 16, 1925 Other

Newspaper Excerpt: Ozment, special deputy bank examiner, and who is also the receiver of the Security State Bank at Portales arrived here Friday and assumed charge of the Bank of Deming pending the appointment of receiver.
Source: newspapers

3. July 3, 1925 Receivership

Newspaper Excerpt: Attorney A. A. Temke is to qualify as bank receiver... He was appointed last Saturday under an order of Judge Harry P. Owen of the district court, bond being fixed at $50,000.
Source: newspapers

4. July 14, 1925 Other

Newspaper Excerpt: Receiver Temke of the Bank of Deming last week paid the amount of the deposit amounting to $32,070.45, interest to date and costs. The amount was placed to the credit of the treasurer of the Village...
Source: newspapers

Newspaper Articles (5)

1. June 5, 1925 The Deming Headlight Deming, NM

Article from The Deming Headlight, June 5, 1925

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Article Text

What of the Future? Deming has lost its second and last banking institution. The Headlight submits that now is the time to sit steadily in the boat, for sane, think ing citizens to speak with wisdom and act with discretion. Accusations and recriminations might offer a safetyvalve for supressed feeling, but they mean nothing and ouly add to the general distress. Many Deming citizens have lost their savings, the result. in many cases. of long hard years of toil. They are entitled to the help and sympathy of every rightthinking person. A great misfortune has befallen, and it should draw the citizens together in a bond of understanding. Whatever may have been contributory causes of the failure. the fact remains that the hard economic conditions, largely brought about by the low price of cattle and the drouth, is the basic cause. These conditions caused the closing of the First National Bank, and another New Mexico bank that suspended on the*same day as the Bank of Deming. There may have been other reasons for the failure, but rehearsal of them at this time would contribute nothing toward the solution of Deming's problem. Deming citizens have not been pulling together, and the community is now gathering the bitter fruit of its failure to cooperate for the good of all. The outcome has been the simple answer to the formula of cause and result. Things could have been quite different. but it is too late to dwell on the past; what of the future' Will Deming now repent and mend its ways On the answer to that question depends the economic and social rehabilitation of this community. If every citizen will think for himself. and act in accordance with his own judgment, this city will have begun its regeneration-With charity for all. with malice toward none." The Sierra County Record is the name of a new weekly newspaper recently found among The Headlight's exchanges. It is published at Hillsboro by Lewis D. Thatcher. Hillsboro has ben quite awhile without a newspaper and no doubt the community is glad to have Mr. Thatcher fill a local need.

2. June 16, 1925 The Deming Headlight Deming, NM

Article from The Deming Headlight, June 16, 1925

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Article Text

DEPUTY C. OZMENT NOW IN CHARGE OF BANK Ozment. special deputy bank examiner. and who is also the receiver of the Security State Bank at Portales arrived here Friday and assumed charge of the Bank of Deming pending the appointment of receiver.

3. June 16, 1925 The Deming Headlight Deming, NM

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Article Text

Unanimous Choice Of Depositors At Thursday's Meeting At the called meeting of the positors of the Bank of Deming which held at the court house Thursday afternoon at 'clock to consider the interests of all of the depositors and take some action which might possibly result in the appointment competent local man as receiver. than ninety depositors were pres- chairman of the committee which called the meeting K. Kissick called the meeting to order and stated its purpose. Permanent organization effected by the selection of Kissick as chairman and Albert Field secretary. Chairman Kissick explained the advantages which would result from the appointment of some thoroughly competent local man for the place. and practically all of the depositors prescoincided with him in his views. As the feeling practically un animous that the naming of local man as receiver would be to the best interests of all the depositors. Dr. Moir moved that the chairman name commrittee from among those present to select some person for receiver and submit his name the depositors present. The committee named by the chair consisted of Dr. H. Young. Tovrea. Paul Nesch. Dr. Vickers, Henry Raithel. Tidmore and Myrtle Williams This committee tired to another room to consider. and upon its return recommended Temke for the position with the result that Mr Temke was made the unanimous choice of the depositors. As Mr Temke was not present sent for. When he appeared heartily applanded. He pressed his sincere appreciation of the confidence reposed in him by the of the depositors and stated that would accept if was the pleasure the judge to appoint him receiver. Mr. Temke made short talk that the depositors would be apprised to his view of the banking present during the course of which emphasized the fact that no bank this community could exist unless had the support of all the people: that bank here was badly needed. and he pledged himself to work for the Bank of Deming and also of the First National Bank of El Paso, had been especially invited to attend the meeting. but he letter to the that he was unable to get In his letter he suggests that plan could be worked out for the reorganization of the bank if all the people the community would get behind the movement He also signified his proval of naming of local telegram was sent to Judge Ryan Long Beach. California. Thursday evening advising him of the action the depositors, and this followed by letter written by the secretary the meeting. Albert Field. the fol lowing day.

4. July 3, 1925 The Deming Headlight Deming, NM

Article from The Deming Headlight, July 3, 1925

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Article Text

ATTORNEY A. A. TEMKE IS TO QUALIFY AS BANK RECEIVER Attorney A. A. Temke expected to qualify for receiver of the closed Bank of Deming today. He was appointed last Saturday under an order of Judge Harry P. Owen of the district court, bond being fixed at $50,000. This bond has been furnished and approved and Mr. Temke expects to enter upon his duties at once. He says that he has DO statement to make until be has taken charge and become familiar with conditions. He is very optimistic and hapes to minimise the envitable less to the depositors by & cereful administration of the resources of the institution. Mr. Tembe enters upon his duties with the full approval of the depositors and stockholders of the defunct bank.

5. July 14, 1925 The Deming Headlight Deming, NM

Article from The Deming Headlight, July 14, 1925

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Article Text

CITY RECEIVES by MONEY FROM BANK Receiver Temke of the Bank of ing last week paid the amount of the deposit amounting to $32,070.45. interest to date and costs. The amount was placed to the credit the treasurer of the Village of with the First National Bank of where the village's account secured by the same bonds that advertised to be sold. the bonds being the property of the First National Bank of El Paso. that bank purchased from Receiver Temke bonds which the Bank of Deming had been holding to secure the village The bonds were sold the present market price plus accrued interest. On this account there was no the time and place advertised. and no bidders were present.