Roy Trust & Savings Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: March 2, 1911
Location: Roy, New Mexico (35.944, -104.196)

Metadata

Model: gpt-5-mini
Short Digest: 5a90cf4d

Response Measures

None

Description

The article reports the bank closed its doors on March 2, 1911, having been ordered to quit business by the territorial bank examiner pending an examination. There is no mention of a depositor run; rumors suggest it may not reopen and that other banks may take it over. No reopening or receivership is confirmed in the text.

Events (1)

1. March 2, 1911 Suspension

Cause: Government Action
Cause Details: Ordered to quit business by the territorial bank examiner pending an examination of the books.
Newspaper Excerpt: The Roy Trust & Savings Bank has suspended. The bank closed its doors on March 2, having been ordered to quit business by the territorial bank examiner, pending an examination by that official, who is now here going over the books of the institution.
Source: newspapers

Newspaper Articles (1)

1. March 6, 1911 Las Vegas Optic Las Vegas, NM

Article from Las Vegas Optic, March 6, 1911

Click image to open full size in new tab

Article Text

ROY TRUST AND SAVINGS BANK FAILS ITS SUSPENSION CAUSES MUCH EXCITEMENT-OFFICIALS CLAIM IT IS SOLVENT Roy, N. M., March 6. -The Roy Trust & Savings Bank has suspended. The bank closed its doors on March 2, having been ordered to quit business by the territorial bank examiner, pending an examination by that official, who is now here going over the books of the institution. The closing of the bank was a surprise to the depositors, although it was generally expected by business men, who carried on their banking business in the neighboring towns for want of sufficient confidence in the manner that the bank was managed. The bank is principally owned by the Roy brothers. The bank was under the full control of E. J. H. Roy, who was the assistant cashier. The owners report that the bank is solvent, but the people do not believe it and are very excited over the failure. It is also rumored that the bank will never open its doors under the same management, that the First National bank of Tucumcari will take it over and will put in a larger and safer institution and also the Federal Bank of Tucumcari is figuring on coming into Roy. The country surrounding Roy is settled by wealthy farmers, sheep and cattlemen. The business men and the wealthy class did their business in more substantial banks, such as those of Springer, Raton and Trinidad for want of confidence in the Roy bank.