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BANK SUSPENDS AT TUCUMCARI By Associated Press. Tucumcari, N. M., Jan. 22. The International Bank of Commerce closed its doors here today. Its affairs, it is stated, are badly complicated. Deposits aggregate $160,000.
14505. International Bank of Commerce (Tucumcari, NM)
Bank Information
- Episode Type
- Run → Suspension → Closure
- Bank Type
- state
- Start Date
- January 22, 1912
- Location
- Tucumcari, New Mexico (35.172, -103.725)
Metadata
- Model
- gpt-5-mini
- Short Digest
65cb2c65
Response Measures
Accommodated withdrawals, Full suspension, Books examined
Other: Receivership and asset liquidation followed; multiple receiver sale notices through 1914.
Description
A run (withdrawals/uneasiness after former president left and heavy loans) precipitated the bank's closing by directors on Jan 22, 1912. The state bank examiner took charge and a receiver (H. B. Jones) was later appointed; assets were liquidated and the institution failed (partial dividends paid).
Events (4)
1.
January 22, 1912
Run
- Cause
- Bank Specific Adverse Info
- Cause Details
- Heavy lending and rediscounts strained the bank and the recent departure of the past president caused depositor uneasiness leading to withdrawals.
- Measures
- Directors ordered the bank closed as a precaution; state examiner took charge and allowed some same-day withdrawals for deposits made that morning.
- Newspaper Excerpt
- the past president of the bank W. F. Buchanan, recently left Tucumcari, caused uneasiness in the mind of depositors creating a run which resulted in the closing of the bank.
- Source
- newspapers
2.
January 22, 1912
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Withdrawal of several large accounts and strained condition from heavy loans/rediscounts prompted directors to close the bank to preserve funds; state examiner took charge.
- Newspaper Excerpt
- The International Bank of Commerce closed its doors here today. Its affairs, it is stated, are badly complicated.
- Source
- newspapers
3.
February 1, 1912*
Receivership
- Newspaper Excerpt
- In the meanwhile Auditor Joerns will make his report to Judge Lieb and a receiver will be appointed to wind up the affairs of the bank. H. B. Jones, Receiver International Bank of Commerce, Tucumcari, N. M. (later notices).
- Source
- newspapers
4.
August 28, 1912
Other
- Newspaper Excerpt
- The work of settlement with the creditors of the International Bank of Commerce which failed here last year, has been completed to the amount of 40 percent, as announced by H. B. Jones, receiver for the defunct institution.
- Source
- newspapers
Newspaper Articles (13)
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JOERNS HOPES TO PAY DOLLAR FOR DOLLAR. Has Taken Charge of International Bank of Commerce Which Was Closed. --Special to the New Mexican. Tucumcari, N. M., Jan. 24.State Bank Examiner John Joerns arrived last night via French and has taken charge of the International Bank of Commerce of Tucumcari which closed its doors on Monday noon. From a superficial examination made by Mr. Joerns the assets and liabilities as shown by the books are $201,400. Until the examiner has made a thorough examination it will not be possible to state the losses. Mr. Joerns, however, states that in his opinion based on his present knowledge of conditions, there is a good likelihood of the possibility of a liquidation whereby all depositors and creditors may be paid in full. The closing of the bank will not seriously affect any other banking institutions. Too much money loaned necessitated heavy rediscounts coupled with the fact that the past president of the bank W. F. Buchanan, recently left Tucumcari, caused uneasiness in the mind of depositors creating a run which resulted in the closing of the bank. A. E. Carter, recently resigned as postmaster, is the president of the bank.
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INTERNATIONAL BANK IS CLOSED Was Placed In the Hands of the State Bank Examiner Monday After noon, at 1:00 O'Clock A sensation was caused Monday after noon when the news became generally known that the International Bank of Commerce had closed its doors and that the affairs of the bank were in the hands of the Bank Examiner Inquiry however, revealed the fact that the bank had been ordered closed by the directors of the bank. While no statement has been made officially by the bank officials it is un derstood that the action was taken foi lowing the withdrawal of several large accounts and was taken as a precaution ary measure to insure keeping the funds of the bank intact. The state bank examiner arrived in the city Tuesday and commenced mak ing examination of the affairs of the bank and while he has made no official statement it is said by those in a por sition to know. that the depositors will be paid in full. The closing of the bank caused great inconvenience and excitement and much talk but there was nothing in the form of a panic. Knowing the directors and officers of the bank as they do, the de positors were apparently confident that all possible would be done to straighten out the affairs of the bank A director of the International made the statement last night that without doubt the depositors would be paid one hundred cents on the dollar. This will be welcome news to the people who had their money in the bank. Deposit- were taken into the bank up to the noon hour Monday and those who had made deposits that day were at terwards notified and allowed to with draw the amounts of their deposits This in a great measure tended to re store confidence The branch bank at Montoya was closed by orders of the bank officials W. F. Buchanan was formerly presi dent of the International Bank and re cently sold his interests to A. R. Car ter. postinaster. Mr. Joerns, bank examiner. state< that the bank has notes amounting to about $120,000 Bills payable about $60,000, with deposits of *75,000 and has an equity in the bank building of about *20,000. It is their earnest et fort to get things in shape so deposit OIS may 8002 realize something. w
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SPECIAL MAN TO LOOK OVER THE BOOKS Governor McDonald Sent T. J. Guilfoil to Examine Affairs of the International Bank of Commerce The affairs of the International Bank of Commerce. which failed a short time ago, will be investigated from the time of the starting of the bank several years ago, at least that is the hope of a number of the depositors who petitioned Governor McDonaid to send a special man here to look over the books of the institution. In response to the petition the gov. ernor has sent T. J. Guilfoil. who arrived in the city Wednesday night and commenced work at once. He would not make a statement at this time exeept to say that he was working under the orders of the governor and that h. would make a statement after he had completed his examination. Traveling Auditor Joerns examined the present condition of the bank. but did not go back far enough to suit the depositors who wanted a thorough investigation. This it seems they will now get. In the meanwhile Auditor Joerns will make his report to Judge Lieb and a receiver will be appointed to wind up the affairs of the bank. There are several applicants for the position of receiver.
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OLD TUCUMCARI HOTELS CONDEMNED Two Landmarks Ordered Torn Down as Unsafe and Unsanitary. Tucumcari, N. M., Aug. 28.-Both the Missouri and City hotels on Railway street have been condemned and closed by the authorities of this place on account of their unsafe and unsanitary condition, and will be torn down, it is said at once.. The buildings were among the first to be erected in Tucumcari, standing adjoining the old townsite building. The work of settlement with the creditors of the International Bank of Commerce which failed here last year, has been. completed to the amount of 40 percent, as announced by H. B. Jones, receiver for the defunct institution. It is thought that another 20 percent will be paid the former depositors. The bank failed for about $30,000. It is said that Tucumcari will have another meat market to be opened by Henry Smith, living near this city. Mr. Smith raises a great deal of stock and it is said, finds much difficulty in disposing of the surplus in this city, hence will open his own market. The school at Quay, in the northern portion of the county, opened Monday with an attendance of nearly 50, possibly the largest attendance in the history of the school. Frecautions are being taken by the directors to have the school in sanitary condition in order to prevent any epidemic disease. Prof. Hickey is in charge.
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RECEIVERS NOTICE I am now prepared to accept bids 01 the following described property owned by the International Bank of Commerce Tucumeari, N M. NEW NEW See 25 Twp 10N Rug 30 E., and N½ NW11 See 30 and SE% SW½ See 19 Twp 10N Rug 31 E., containing 162 24 :00 acres, and SE% SWM, W½ SE% See 13, and NW½ NE% See 24 Twp 10N Rug 30 E., con taining 160 acres, Quay county, N M. SEV NW14 and SWH NE14 and lots 2 and 3 See 4 Twp 10N Rog 31 E., con taining 159 61-100 acres, Quay county. N. M. Lots C. D. and E. of Lamar's Sub div of lots 1, 2, 3 and 4 of Block 19. original townsite Tueumeari, lots D, E. and F Chenault's Sub-Div. of lots 8, 9, 10, 11, 12 of Block 18 OT Tueum cari, Lots B. C. D, and E Lamar's Sub Div of lots 9, 10, 11 and 12 of Blk 31 OT Tucumeari, N. M. Lot 5 Block 13 OT Tueumeari, N. M. A 3-8 interest in and to Lots 11 and 12 in Block 30 Russell's addition. Lot 5 in Block 8 of Gamble addition to Tucumeari. H. B. JONES, Receiver Int rnational Bank of Commerce Tuenmeari. N. M
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RECEIVERS NOTICE I am now prepared to accept bids on the following described property owned by the International Bank of Commerce Tueumeari, N M. NEW NE% See 25 Twp 10N Rog 30 E., and N½ NW11 See 30 and SE% SW14 See 19 Twp 10N Rng 31 E., con taining 162 24:00 acres, and SE% SWM, W½ SE% See 13. and NWM NE% See 24 Twp 10N Rug 30 E., con taining 160 acres. Quay county, N.M. SEV NW% and SW NEW and lots 2 and 3 See 4 Twp 10N Rng 31 E., containing 159 61-100 acres, Quay county, N M. Lots e. D and E. of Lamar's Sub div of lots 1.2.3 and 4 of Block 19. original townsite Tueumeari, lots D. E and F Chenault's Sub Div. of lots 8, 9. 10. 11. 12 of Block 18 OT Tucum cari, Lots B C. D. and E Lamar's Sub Div of lots 9. 10, 11 and 12 of Blk 31 OT Tnenmeari. N. M. Lot 5 Block 13 OT Tucumeari, N. M A 3-8 interest in and to Lots 11 and 12 in Block 30 Russell's addition. Lot 5 in Block 8 of Gamble addition to Tucumeari. 160 acres SW½ Sec. 14, Twp 11N. Range 31E, Quay county. H. B. JONES, Receiver Int reational Bank of Commerc Thenmeari N ..
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RECEIVERS NOTICE I am now prepared to accept bids 01 the following described property owner by the International Bank of Commere Tucumeari, N. M. NEW NEW See 25 Twp 10N Rug 31 E., and N½ NW: See 30 and SE% SW½ See 19 Twp 10N Rng 31 F.., con taining 162 24:00 acres, and SE% SWM, SEM See 13, ..nd NWV, NEW See 24 Twp 10N Rng 30 E., con taining 160 acres, Quay county, N M SE% NW14 and SW NE% and lots 2 and 3 See 4 Twp 10N Rng 31 E., con taining 159 61 100 acres, Quay county N. M. Lots e. D. and E. of Lamar's Sub div of lots 1, 2, 3 and 4 of Block 19 original townsite Tuenmeari, lots D E and F Chenault's Sub-Div. of lots 8, 9, 10, 11, 12 of Block 18 OT Tucum cari, Lots B C. D. and E Lamar's Sub Div of lots 9, 10. 11 and 12 of Blk 3' OT Tucumeari, N. M. Lot 5 Block 13 OT Tucumeari. N M A 3.8 interest in and to Lots 11 and 12 in Block 30 Russell's addition. Lot 5 in Block 8 of Gamble addition to Tucumeari. Lots 19. 20 21, blk 2, Daub's Addition to Tueumeari. Lots B and C Herring Subdivision of lots 13, 14, 15, 16, blk 2, Original Town. site. H. B. JONES, Receiver International Bank of Commere. Tuenmeari, N. M
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RECEIVERS NOTICE I am now prepared to accept bids at the following described property owner by the International Bank of Commer Tueumeari, N M. NEW NE14 See 25 Twp 10N Rug 34 E., and N½ NW11 Ser 30 and SEM SW 1/4 See 19 Twp 10N Rug 31 E... con taining 162 24:00 acres, and SE% SW½, W½ SE% See 13. and NW14 NE% See 24 Twp 10N Rng 30 E., con taining 160 acres, Quay county, N M SE% NW 1/4 and SW½ NE% and lots 2 and 3 See 4 Twp 10N Rog 31 E., con taining 159 61 100 acres, Quay county N M. Lots C. D and E. of Lamar's Sub div of lots 1, 2. 3 and 4 of Block 19 original townsite Tuenmeari, lots D E and F Chenault's Sub-Div. of lots 8, 9. 10. 11. 12 of Block 18 oT Tueum cari, Lots B C. D. and E Lamar's Sub Div of lots 9, 10, 11 and 12 of Blk 31 OT Tucumcari, N. M. Lot 5 Block 13 OT Tueumeari, N M A 3-8 interest in and to Lots 11 and 12 in Block 30 Russell's addition. Lot 5 in Block 8 of Gamble addition to Tucumeari. Lots 19, 20 21, blk 2, Daub's Addition to Tucumeari. Lots B and C Herring Subdivision of lots 13, 14, 15, 16, blk 2, Original Town. site. H. B. JONES, Receiver Int reational Bank of Commerc Tuenmeari, N. M.
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# RECEIVERS NOTICE I am now prepared to accept bids on the following described property owned by the International Bank of Commerce Tucumeari, N. M.. SE¼ NW¼ and SW¼ NE¼ and lots 2 and 3 Sec 4 Twp 10N Rng 31 E., containing 159 61-100 acres, Quay county, N. M. Lot 5 Block 13 OT Tucumcari, N. M. Lot 5 in Block 8 of Gamble addition to Tucumeari. Lots 9 and 10 block 8 Rock Island addition, Tucumcari, N. M. H. B. JONES, Receiver International Bank of Commerce Tucumcari. N. M
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RECEIVERS NOTICE I am now prepared to accept bids on the following described property owned by the International Bank of Commerce Tucumeari, N. M. SE% NW½ and SW½ NE½ and lots 2 and 3 See 4 Twp 10N Rng 31 E., COD taining 159 61-100 acres, Quay county, N. M. Lots D, E, and F Chenault's SubDiv. of lots 8, 9, 10, 11, 12 of Block 18 OT Tucumeari. Lot 5 Block 13 OT Tucumeari, N. M. Lot 5 in Block 8 of Gamble addition to Tucumeari. Lots 9 and 10 block 8 Rock Island addition, Tucumcari, N. M. H. B. JONES, Receiver Int rnational Bank of Commerce Trenmeart. N M
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RECEIVERS NOTICE I am now prepared to accept bids on the following described property owned by the International Bank of Commerce Tucumeari, N. M. SE% NW½ and SW½ NE½ and lots 2 and 3 See 4 Twp 10N Rog 31 E., containing 159 61-100 acres, Quay county. N. M. Lots D, E, and F Chenault's SubDiv. of lots 8, 9, 10, 11, 12 of Block 18 OT Tucumeari. Lot 5 Block is OT Tucumeari, N. M. Lot 5 in Block 8 of Gamble addition to Tucumeari. Lots 9 and 10 block 8 Rock Island addition, Tucumcari, N. M. H. B. JONES, Receiver Int rnational Bank of Commerce Tuenmeari. N. M.
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Notice of Receiver's Sale NOTICE IS HEREBY GIVEN, That I, H. B. Jones, Receiver of the International Bank of Commerce, Tucumcari, New Mexico, under order of the District Court in the suit of State of New Mexico vs. International Bank of Commerce of Tucumcari. New Mexico. No. 1022, pending in the District Court of the Eighth Judicial District, Quay County. New Mexico, will on Tuesday the 17th day of November, 1914, at two o'clock in the afternoon, at the First National Bank of Tucumcari, New Mexico, sell at public auction to the highest bidder for cash all of the remaining assets of the said International Bank of Commerce of Tucumcari, New Mexico. This sale is made for the purpose of disposing of the remaining assets 30 that the business of the receivership may be concluded and the final distribution to creditors made. The following is a list of the assets which will be sold: Note of A. R. Carter, $8,000. 8 per cent from Jan. II, 1912. Note of J. C. Jones, 50.00; due Jan. 2, 1915, Int. at 10 per cent from Aug. 2, 1913, secured by postoffice fixtures. Note of C.C. Davidson. 199.10: 10 per Cent from March I, 1911. Note of C. C. Davidson. 392.50; TO per cent from March I. 1911. Note of E.J. McDevitt, 20.00; 10 per cent from Jan. 12, 1912. Note of Jordan Merc. Co., 280.00; IO per cent from Oct. 12, 1911. Note of A. A. Blankenship, Beulah B. Blankenship: 92.30; 10 per cent from Nov. 7. 1911. Note of Laura B. Cole. 40.00; 10 per cent from Feb, II, 1911. Note of Ethel M. Carter, 445.00, 7 per cent from Jan. 3. 1912. Note of Lewis B. Grogan and wife, 600.00 10 per cent from Feb. 17. 1911. Note of E. O. Hostetter. 35.00; 10 per cent from Jan. 3. 1912. Note of M. B. Rice and J. P. Hardin. 150.00; 8 per cent from June 29, 1911 Note of M. B. Rice and J. P. Hardin, 100.00 8 per cent from June 29, 1911, Note of C. T. Ray, 50.00; TO per cent from Oct. 3. 1911. Note of A. A. Harvey. 1641.18; 10 per cent from Jan. 10, 1912 Note of A. A. Harvey, 500.00; 10 per cent from Dec. 30, 1911. Note of A. A. Harvey, 100.00; 12 per cent from Oct. 26, 1911. Note of A. A. Harvey, 675.00: IO per cent from Dec. 11, 1911. Note of C.H. Faris, 11,00; 10 per cent from Aug. 18, 1911. Note of M. C. Hogshead, 61.65: 10 per cent from Sept. 5. 1911. Judgement against H. S. Holloway, 4898.63; interest at 8 per cent from March 15, 1913. Judgment against S. Duggins and S. M. Wharton. 148.88; interest at 12 per cent from Sept. 24, 1912. Judgments against W, F. Buchanan, 12,006.25, 6 per cent interest from Nov. 22, 1913; and 5,049.55, interest 10 per cent from Sept. 17, 1913. 125 shares of stock in O'Shea Promotion Co., Tucumcari. Lots D, E and F Chenault's Sub-Div. lots 8, 9. 10, II and 12, block 18, O. T. of Tucumcari, N. M. Lot 5 Block 13 O. T. Tucumcari, Lots 9 and 10 block 8 Rock Island addition to Tucumcari. Lot 5 block 8 Gamble addition to Tu cumcari. H. B. JONES, Receiver. HARRY H. MCELROY, Attorney for Receiver, Tucumcari. N.M.