14437. First National Bank (Gallup, NM)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
9988
Charter Number
9988
Start Date
March 15, 1933
Location
Gallup, New Mexico (35.528, -108.743)

Metadata

Model
gpt-5-mini
Short Digest
8fbf0d73

Response Measures

None

Description

Bank was closed during the 1933 banking holiday (government-ordered/related) and never resumed normal independent operations; subsequently placed in receivership (comptroller appointed receiver in 1934). Articles mention receiver actions (lawsuit, dividend). No explicit run on this specific bank is described.

Events (6)

1. April 13, 1911 Chartered
Source
historical_nic
2. December 20, 1913 Voluntary Liquidation
Source
historical_nic
3. March 15, 1933 Suspension
Cause
Government Action
Cause Details
Suspended during the statewide banking holiday/reorganization in March 1933; listed among banks closed during the banking holiday and awaiting treasury licensing to reopen
Newspaper Excerpt
The banks, reported closed, were as follows: First National bank, Gallup; ... 42 of New Mexico's banking institutions ... resumed business today
Source
newspapers
4. March 3, 1934 Other
Newspaper Excerpt
BANK RECEIVER SUES the First Na. Gallup has filed district against Ben the Ben asking and and to the securing chattel mortgage and the been paid.
Source
newspapers
5. April 2, 1934 Receivership
Newspaper Excerpt
Charles E. Mann ... has been named receiver of the First National bank of Gallup to succeed Clarence Vogel ... the appointment ... was made by the comptroller's office.
Source
newspapers
6. September 14, 1934 Other
Newspaper Excerpt
Receivor C. E. Mann of the First National bank of Gallup today announced the payment soon of a 50 per cent dividend to creditors of the institutien closed during the banking holiday
Source
newspapers

Newspaper Articles (8)

Article from Albuquerque Journal, August 4, 1927

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BUYING ADS STOPS FIGHT ON BANK Sacco, Vanzetti Denied Clemency By Governor JOHN EMMONS, GALLUP, SAYS JUDGE CHANGED HOLLOMAN AGREED THAT RADICALS LOSE FIGHT TO SAVE MURDERERS TWO ITALIANS MUST DIE AUG. FRONT AFTER HE QUIT SETTLING OF SAN JUAN'S MURDER INTEREST IN POLITICS SCHOOL CASE WAS GOOD OF POLITICS, SAYS EDWARDS Attorney for Board of Education Testifies That Terms of Compromise Were Discussed; Another Witness Says Judge Refused to Grant Hearing, Saying Counsel Could Make All the Requests They Wished, But It Would Do No Good By Special Leased Wire SANTA FE, Aug. 3-That settlment was sought in the San Juan board of education case last fall for county political reasons was the admission of A. M. Edwards, an attorney for the board, at the Wednesday night session of the Hannett hearing before the board of bar commissioners. Mr. Edwards, republican, testified he received a letter from David M. Barker, an attorney at Aztec, suggesting such a course and that he had shown the letter to Judge Holloman. He testified he agreed that a settlement would be a good thing from a political standpoint, and that the judge so agreed. He testified the of replied that the case did not terms compromise suggested by Mr. originate from political reasons Barker could agreed to and that he did not to propose and he offered correspondence on settle for political the matter. that he did not think the claim Mr. Edwards said that he was legal and should not be paid. Interested in the success of the Mr. Lawson testified that at republican party and thought If one stage the controversy, settlement could be arranged when Mr. Bruington, an associate would relieve the situation counsel of the Board. went to the salary Mary Joseph Judge Holloman and asked for pay Peterson. teacher In the Sacred hearing on the peremptory writ Heart Academy. He said he con- of mandamus ordering the payferred at various times with Judge ment of the voucher for Sister Holloman in the matter and that Mary Joseph's salary, that Judge Judge Holloman was anxious for Holloman told Mr. Bruington settlement. The Barker letter that he could make all requests was written in October, previous that he wanted to. but that they to the election in 1926 would all be denied. Mr. Edwards prepared the He testified Judge Holloman answer to the writ of mandamus said he had been harassed enough issued in Judge Holloman's court in the matter and was not going against the San Juan county board to grant hearing any of education to force the payment Lawson testified he was $675 to Sister Mary Joof salary republican, but he thought after seph Peterson. teacher in Sacred investigation of the case after Heart his appointment that It was Mr. Edwards was in Aztec and not legal to pay teacher said there was considerable feel the Sacred Heart academy. He 110% over the matter and that the he was not moved by any reboard discussing refusing to ligious feeling. heed the judge's He said he The night sessior closed with came Into the case then. He ad- Mr. Lawson's testimony. but counvised that the writ be obeyed. He sel for Mr. Hannett announced the judge and that two rebuttal witnesses in the then went to see there could not be de- telephone would be put on asked judge said no. He then the stand at Thursday morning's lay. The advised the order be obeyed and the writ Issued. and was, but the voucher was held by the court until the final de- SIXTEEN MINERS termination of the case on its merits. The was heard on its case merits in the fall of 1926, but decision was reserved and was not ARE KILLED IN handed down until June. 1927. The final judgment the case by the board of agreed upon education, Mr. Edwards said. It KENTUCKY BLAST new board that had been appointed the judge under an legislature, he said. The of the judgment was for the full amount Rescuing Crews Hasten into of the Workings at Clay, Where Good for Republicans On by Mr. Many Men Are Believed Simms. he said he felt that If an to Be Trapped amicable settlement of the case could reached it would CLAY, Ky., Aug. good thing for the republican parminers reported killed late ty in the fall election and remove Wednesday in the West Kentucky disturbing factor. Coal company's mine near here, Asked If he had been on the where exactly 12 years ago 67 lost bench, If he would have decided their lives in one of the greatest the case on its legal merit or on disasters in the state. its political phase, theoretically. The explosion came late In the he said, he would have decided the afternoon as the 250 miners were on merits. partly out of the shaft and late Fred Lawson. president of the night the exact number had not San Juan County Board of Edubeen determined. but from the eation, testified that when commine. mile from here, It was repromise was suggested to him. he ported that 15 bodies had been As Soon He Put as Bank in Paper That Was Under Receivership, He Testifies, Stories About Bank Failures Ceased; dentally, H. C. Denny, Close Friend of Judge, Became Attorney for the Bank By Special Leased Wire SANTA FE, Aug. John Emmons, of the Southwestern Home Telephone company, and in the First National bank of Gallup, made peace with Gallup Herald, a newspaper run under receivership Judge Holloman's court, after the had ries of news stories about bank failures and indictments bankers and sentences to the for banking, was his testimony ednesday afterhoon in Hannett hearing before the state bar commission. Mr. Emmons testified he not only made peace the newspaper, but extended his overtures further peace in Gallup and considered that Judge Holloman, once was not friendly to his crowd, now not ly, and that H. C. Denny, Judge Holloman's close friend Gallup, has been attorney for the First National since that time.


Article from El Paso Times, March 16, 1933

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Article Text

New Mexico Banks Active 42 Of State's 48 Reopen For Normal Business; Deposits Exceeded Withdrawals. Albuquerque, March 15 (AP). -At least 42 of New Mexico's banking institutions, both national and state, resumed business today without restrictions other than those placed by President Roosevelt on hoarding. Up to noon 20 of the 22 state banks were open under orders from Jon Bingham and 22 the 26 national banks were doing business under permit from the secretary of the treasury. The banks, reported closed, were as follows: First National bank, A1buquerque; First National bank, Gallup; First National bank, Las Cruces: First National bank, Lordsburg: Merchants State bank. Gallup, and the First Savings Trust company, Albuquerque. The two state banks awaited opening of the national banks in Albuquerque and Gallup before they resumed business. Deposits Exceed Withdrawals. Reports from over the state indicated the public was more interested placing deposits in the banks than withdrawing money most cases deposits exceeded the withdrawals. Word came from Washington that Senator Bratton took with the treasury the banking situation affects New Mexico and the banks there not licensed by the treasury reopen. The senator explained the state's banking institutions somewhat in doubt as to some of the treasury's actions and he sought an planation so that he could advise them. rapidly as the information is supplied, Bratton said, it is being sent interested persons in New Mexico, with the explanation most of it is confidential matter.


Article from The Deming Headlight, March 24, 1933

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Article Text

ALL BUT FOUR BANKS IN THE STATE ARE NOW OPENED The First National Banks at Gallup, Artesia and Las Cruces and state bank at Gallup are the only ones in the state not reopened since the holiday Announcement of their reopening is expected daily. The state bank in Gallup is only awaiting the reopening of the nation n) bank there. The First National Bank of Lordsburg opened Saturday morning, under authority of a license received Friday afternoon.


Article from Albuquerque Journal, January 24, 1934

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STATE HAS LEAST MONEY TIED UP CLOSED BANKS Home Loan Official Says Condition Here Better Than in Any Other Western State New Mexico is in the best shape of any state in the country in regard to closed banks, R. L. Olson, special representative of the U. S. home owners loan said Tuesday after arriving here on tour of his district, comprising seven western states. Familiar with financial business through his building and loan at Ogden Utah, before his recent appointment, Olson declared, "New Mexico has the smallest actual number of closed banks, and the smallest amount of money in closed banks, of any state in the unjon. And it has the smallest number of home mortgages in closed banks." Because of the problem in Colorado, he recommended to WashIngton that special branch or "wholsewale department" of the home loan office be set up to take over home mortgages The only other closed bank New Mexico beside the First Savings Bank here, to have eligible home mortgages, is the First National at Gallup, Olson said. He is going Gallup Wednesday to confer with the receiver there


Article from Albuquerque Journal, March 3, 1934

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BANK RECEIVER SUES the First Na. Gallup has filed district against Ben the Ben asking and and to the securing chattel mortgage and the been paid.


Article from The Santa Fe New Mexican, April 2, 1934

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VOGEL OUT AS BANK RECEIVER ALBUQUERQUE April 2. Charles E. Mann of Artesia has been named receiver of the First National bank of Gallup to succeed Clarence Vogel, who resigned, according to advices received here today from Washington. The appointment, it was reported, was made by the comptroller's office. Vogel, state senator, was recently removed from the Gallup town board following his conviction by jury of interfering with law enforcement.


Article from The Santa Fe New Mexican, September 14, 1934

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50% Dividend Announced by Bank Receiver GALLUP. N. M., Sept. 14-Receivor C. E. Mann of the First National bank of Gallup today announced the payment soon of a 50 per cent dividend to creditors of the institutien closed during the banking holiday of The dividend is estimated to release $100,000 of frozen assets of 1,400 individuals in the closed instituNon. Secured deposits of $450.000 have already been paid by the re-


Article from The Coolidge Examiner, January 11, 1935

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Southwestern Briefs George W. P. Hunt, 75. seven times governor of Arizona, died at his home in Phoenix. The Arizona Board of Nurse Examiners will hold its annual meeting in Tucson January 18 and 19. J. E. Hinman, pioneer resident and business man. died at his home in Estancia, N. M., a short time ago. Mayor Joseph S. Jenckes proclaimed March 2 as primary election day and April 3 as general election day in Phoenix. Work for at least forty-five men will be provided by three new FERA proj ects including two for flood control in Gallup, N. M. oil well were and five tests Two large completions started in Lea New Mexico, the in that oil county, active made operations increasing booming wells. to sixty-four drilling oil territory New Mexico's production raised allotment for January has been to 49,800 barrels daily for the month of January, the highest figure for more than a year. Postmaster George A. Todd of Phoenix said postal receipts for the first twenty-one days of December amounted to $45,952.85 a gain of 11.3 per cent over the same period last year. For the first time in the history of the New Mexico land office all tracts of land offered at the monthly public auction sale of oil and gas leases sold. The twenty-five tracts offered brought a total of $38,308. Depositors of the closed First National bank of Gallup, N. M., appear assured of full payment of the remaining $102,000 still "frozen" in the institution which was suspended during the banking holiday of 1932. Word has just been received of the appointment of G. L. Martin of Cameron, New Mexico, as supervisor, second district of New Mexico, 1935 census of agriculture. Mr. Martin will have offices in the postoffice building at Clovis. Arthur R. Tillman, 46, safety superthe western railroad for the Santa visor for Fe lines last of ten the years, died at his home in Albuquerque following several months' illness Tillman was completing twenty-four years of service with the Santa Fe in New Mexico. City officials of Carlsbad, N. M. launched an investigation of a fire which gutted the Carlsbad Inn, a two story frame structure, and took the lives of four persons. Six other per sons are in a hospital with serious burns. The fire is believed to have started from a cigaret. Henry F. Ashurst, veteran United States senator from Arizona, says h has declined the offer of President Roosevelt to name him judge of the Circuit Court of Appeals, San to succeed Saw Francisco, Ninth William death H. telle, who fell to his on the stairs of his home last week E. L. Barrows of Santa Fe was elected president of the New Mexicc section of the American Society of Civil Engineers at the society's an nual meeting in Albuquerque. He suc ceeded H. C. Neuffer of Albuquerque Federal Circuit Judge Sam G. Brattor was the principal speaker at the ban quet. The United Verde Copper Company in Arizona has filed a suit in Federal Court in which it seeks a 50 per cent reduction in assessed valuations and a further decrease in the 1934 taxes. The action is against the state tax commission which valued the mining company properties for taxation purposes at $18,000,000. States market news servthe Arizona ice The reported United lettuce busi- im this shows a marked over the last level for the ness The provement price year first two from ten years. $2.50 days of heavy shipping ranged to $2.75, compared to 90 cents to $1.10 a crate in 1932 and $1.25 to $1.35 last year. Sheep forage prospects are the best in five years, according to Jerrie W. of the Arizona Wool Association. Growers' Lee, secretary Consequently, flocks he said, comparatively few will be wintered in the cultivated areas of the Salt River and other valleys but will browse in the desert foothills Recent rains were responsible for the good grass stands. The Arizona state highway department will open bids January 15 for construction of an underpass near Grande and for the replacing of with concrete Mohawk-Wellton area. three in Casa the dips box culverts The for department has budgeted $149,000 the work. of this $115,000 will be spent on the Casa Grande project and $34,000 on the Mohawk-Wellton job. Taxes collected under the intangibles tax law of 1933 in Arizona, with out protest on the part of the taxpayer at the time payment was made can not refunded by the state tax comthat body was general's office. attorney mission, be advised Taxes by paid the the under protest may be refunded. but the with the state file ruling a claim stated, taxpayer treasurer must for the amount he paid in.