Sierra County Bank - Hillsboro, NM

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 17, 1924
Location: Hillsboro, New Mexico (32.921, -107.567)

Metadata

Model: gpt-5-mini
Short Digest: 4323632b

Response Measures

None

Description

Article states the Sierra County Bank suspended business on 1924-01-17 and has paid only 30% of deposits; a 1926 suit seeks recovery of unpaid state funds, indicating the bank remained closed/insolvent. No run is described in the article.

Events (1)

1. January 17, 1924 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank suspended business and paid only 30% of deposits, indicating insolvency/ inability to meet obligations; suit brought to recover unpaid state funds.
Newspaper Excerpt: On January 17, 1924, the complaint says, the bank suspended business and since that time has paid only 30 per cent of $28,292.56 the sum deposited in the bank by the treasurer of Sierra and the state treasurer.
Source: newspapers

Newspaper Articles (1)

1. January 29, 1926 The Santa Fe New Mexican Santa Fe, NM

Article from The Santa Fe New Mexican, January 29, 1926

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Article Text

Suit to Recover State Money in Hillsboro Bank A suit has been filed in the United States district court by the State of New Mexico vs. The United States Fidelity and Guaranty company, la corporation doing business under the Maryland. The action was brought through Tom W. Neal, special counsel for the state. The suit involves a balance alleged to be due the state under bond of $20,000 given by the defendant to the Sierra County bank of Hillsboro, in order for the bank to be able to accept state and county money. On January 17. 1924. the complaint says, the bank suspended business and since that time has paid only 30 per cent of $28,292.56 the sum deposited in the bank by the treasurer of Sierra and the state treasurer. The suit is brought to recover $19,904.80 with interest.