18499. First National Bank (Texarkana, TX)

View Charter #3065 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
3065
Charter Number
3065
Start Date
March 7, 1895
Location
Texarkana, Texas (33.425, -94.048)

Metadata

Model
gpt-5-mini
Short Digest
f91f49a627c00373

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1895-04-01
Date receivership terminated
1896-12-18
OCC cause of failure
Fraud
Share of assets assessed as good
20.2%
Share of assets assessed as doubtful
10.4%
Share of assets assessed as worthless
69.4%

Description

The Comptroller of the Currency ordered the First National Bank of Texarkana closed/suspended (reported March 7, 1895) because capital had become impaired and stockholders failed to make it good. A receiver was appointed (Thomas M. Thornton) and the bank remained in receivership with dividends paid to creditors; no article describes a depositor run prior to suspension. The receiver opened the bank's doors for administrative purposes, but the institution remained in receivership and was being wound up (dividends declared), consistent with a suspension leading to closure under receivership.

Events (7)
1. October 26, 1883 Chartered
Source
historical_nic
2. March 7, 1895 Suspension
Cause
Government Action
Cause Details
Comptroller ordered suspension because capital stock had become impaired and stockholders failed to make it good.
Newspaper Excerpt
The comptroller of the currency has ordered Bank Examiner Johnson to close up the First National bank of Texarkana, Texas... The stock, however, had become impaired, and on the failure of the stockholders to make good the order to suspend was given.
Source
newspapers
3. April 1, 1895 Receivership
Source
historical_nic
4. April 2, 1895 Receivership
Newspaper Excerpt
Dispatches to-day announce that Thomas M. Thoruton, of Shelbyville, Illinois, has been appointed as receiver of the First National Bank, of this city. On account of a split among home people, appointment was made from another state.
Source
newspapers
5. April 23, 1895 Other
Newspaper Excerpt
The First National Bank doors were opened today for the first time since Mr. Andrews closed it on the 6th of April. The receiver, Mr. Thornton had many callers... it is not reasonable to expect him to pay off any claims until he makes a clear inventory...
Source
newspapers
6. July 11, 1895 Other
Newspaper Excerpt
The Comptroller of currency has notified him that a dividend of 30 percent has been declared on all approved claims against the bank, which will be paid as soon as the schedule and checks can be filled out and forwarded to Washington for the signature of the Comptroller.
Source
newspapers
7. January 1, 1896 Other
Newspaper Excerpt
Col. Thornton, receiver of the 1st National Bank of this place, has received notice from the Comptroller of currency at Washington that he could declare another dividend of 30 per cent. to depositors. This will make 60 per cent. the depositors will have thus far received...
Source
newspapers

Newspaper Articles (21)
1. March 8, 1895 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, March 8, 1895

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Article Text

From the National Capital. Washington. March 7.-The comptroller of the currency has issued a call for the reports on the condition of National banks at the close of business, Tuesday, March 5, 1895. Washington, March 7.-The comptroller of the currency has ordered Bank Examiner Johnson to close up the First National bank of Texarkana. Texas. The capital stock of the bank is $50,000 and the liabilities are $40,000. The stock, however, has become impaired and on the failure of the stockholders to make it good, the order to suspend was given. Washington, March 7.-Nothing is known here in regard to the Simmons or Sawyer, who was arrested at Pueblo, Colo., and claimed to be an agent for the treasury department. J. J. Clark, of the supervising architect's office, was in Pueb10 three weeks ago but has now returned to the east and was in this city today. No other treasury agent has been in that locality recently.

2. March 8, 1895 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, March 8, 1895

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Article Text

To Close a Bank. Washington, March 7.-The comptroller of the currency has ordered Bank Examiner Johnson to close up the First National bank of Texarkana, Tex. The capital stock of the bank is $50,000 and the liabilities are said to be about $40,000. The stock, however, has not been impaired and on the failure of the directors to make it good the order to suspend was given.

3. March 8, 1895 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, March 8, 1895

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Article Text

To Close a Texas Bank. WASHINGTON, March 7.-The Comptroller of the Currency has ordered Bank Examiner Johnson to close up the First National Bank of Texarkana, Tex. The capital stock of the bank is $50,000 and the liabilities are $40,000. The stock, however, had become impaired and on the failure of the stockholders to make good the order to suspend was given.

4. March 8, 1895 The Herald Los Angeles, CA
Article from The Herald, March 8, 1895

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Article Text

Another Bank to Close Washington, March 7.-The Comptroller of the Currency has ordered Bank Examiner Johnson to close up the First National Bank of Texarkaka, Texas. The capital stock of the bank is $50,000, and the liabilities are $40,000. The stock, however, had become impaired, and on the failure of the stockholders to make good, the order to suspend was given.

5. March 8, 1895 Evening Star Washington, DC
Article from Evening Star, March 8, 1895

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Article Text

Close Up R National Bank. The controller of the currency has ordered Bank Examiner Johnson to close up the First National Bank of Texarkana, Texas. The capital stock of the bank is $50,000, and the liabilities are said to be about $40,000. The stock, however, had become impaired, and on the failure of the stockholders to make it good the order to suspend was given.

6. March 8, 1895 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, March 8, 1895

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Article Text

; Closed a Texas Bank. elit WASHINGTON, March 7.-The comptroller of the currency has or dered Bank Examiner Johnson to close up the First National Bank of Texarkana, Tex. The capital stock of the bank is $50,000, and the liabilities are said to be about $40,000. The stock, however, had become impaired, and, on the failure of the stockholders to make it good, the order to suspend was given.

7. March 8, 1895 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, March 8, 1895

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Article Text

TO CLOSE A BANK. Washington, March 7.-The comptroller of the currency has ordered Bank Examiner Johnson to close up the First National bank, of Texarkana, Tex. The capital stock of the bank is $50,000 and the liabilities are $40,000. The stock, however, had become impaired. and on the failure of the stockholders to make it good the order to suspend was given.

8. March 13, 1895 Morris Tribune Morris, MN
Article from Morris Tribune, March 13, 1895

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Article Text

The News Condensed. Important Intelligence From All Parts. DOMESTIC. THE treasury statement of for circulafor February shows a decrease the tion month of $39,122,958, reducing of the circulation of all kinds for to aggregate $1,574,584,557. a decrease the money ending March 1 of $116,000,000. THE year Sebastian Dramatic company York will walk from St. Louis to New on a wager of $1,000. ANNIE and Marie Bohan, sisters, were 20 and 22 years respectively, aged found dead in bed at their boarding in Chicago, having been in asphyxiated place by gas. Their home was III A LARGE party of recent converts Va., to Mormonism left Hanover county, for Utah. CLAUDE RUSSELL and his pit infant brother were suffocated in a gravel near Ingalls, Ind. DGE BARRETT, of New York, E. grantJ absolute divorce to Mrs. Alva Vandered an Vanderbilt from William K. of bilt and awarded her the custody the three children. FIRE destroyed the distillery of J. B. the Wathen & Co. at Louisville, Ky., loss being $100,000. THE total number of immigrants ar- during riving at United States ports 1 seven months ended February the the 113,375, against 189,582 for a was seven months ended February 1, 1894, decrease of 76,207, or 40 per cent. THE steamer City of St. Augustine reached New York from Jacksonville, Fla., after a stormy voyage of thirtydays. eno address was issued by the BimeAN tallic league in which voters are the asked to desert their parties and settle money question for all time. NEGROES and cadets at the college at Auburn, Ala., engaged in a pitched battle and four of the former were wounded. GEORGE W. BUSH & SONS, extensive dealers in coal and lumber at Wilmington, Del., failed for $250,000. DISTINCT earthquake shock, lasting A several seconds. was felt at Winston, N. C. Buildings were shaken, but no damage was done. J. L. SHROPSHIRE. cashier of the Central railroad at Birmingham, Ala., the committed suicide. He had lost company's money to card-sharpers. PRESIDENT CLEVELAND left Washingin the lighthouse tender Violet for a ton hunting trip in North Carolina waters. JUDGE FREEMAN quashed the indictment against the Meadowerofts for receiving deposits knowing their bank in Chicago to be insolvent. AN explosion of natural gas wrecked Terhune block at Anderson, Ind., the and damaged surrounding buildings, the total loss being $250,000. NORA KEATING, a notorious thief, who been arrested 500 times within nine the has years, was sent from Chicago to penitentiary for two years. THE Locust valley coal mine near Milan, Mo., was burned with the buildings and machinery, entailing a loss of FIRE $100,000. destroyed the business portion of Flora, a village in Indiana. PEOPLE of Seattle, Wash., were horrified by the discovery of dead human bodies in the city's main water reservoir. THE First national bank of Texarkana, Tex., closed its doors through inability to meet its obligations. THE Wingate Mercantile company at Kansas City, Mo., went into a receiver's hands with liabilities of $110,000. MRS. ELIZA COWEN and three children, of Northfield. O., were lying at the point of death, poisoned by dried A beef. PASSENGER train on the Indianapolis & Vincennes railroad was wrecked near Sanborn, Ind., and six persons were injured. Two BANDITS raided a bank at Adel, Ia., wounding the cashier and six others. Citizens killed one robber, captured the other and recovered the stolen money. THE East Pennsylvania conference the United Evengelical church of adopted resolutions scoring congress for continuing in session on Sunday. A GENERAL strike among Pennsylvania coal miners was ordered for an increase in wages. Twenty thousand men were involved. THE late Fred Douglass left an estate valued at $200,000. CHARLES A. DANA and William M. Laffan. editor and publisher respectivethe New York Sun, were indicted

9. March 14, 1895 Warren Sheaf Warren, MN
Article from Warren Sheaf, March 14, 1895

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Article Text

WEST AND SOUTH. AN earthquake shock, lasting several seconds. was felt at Winston, N. C. Buildings were shaken, but no damage was done. FLAMES destroyed the distillery of J. B. Wathen & Co. at Louisville, Ky., the loss being $100,000. MR. HOLMAN, of Indiana, with his retirement from congressional life at the conclusion of the Fifty-third congress, completed a career of thirty years as a national lawmaker. ELIAS HEDGES, 90 yearsold, a veteran of the Mexican war, died at Jeffersonville, Ind. THE doors of the First national bank of Texarkana, Tex., were closed through inability to meet its obligations. AT Kansas City, Mo., the Wingate Mercantile company went into a receiver's hands with liabilities of $110,000. NEAR Arapahoe, O. T., J. Howard Payne, county attorney, was found frozen to death. He was a relative of and named after the famous author of "Home, Sweet Home." FIRE destroyed the Locust valley coal mine near Milan, Mo., with the buildings and machinery, entailing a loss of $100,000. IN Chicago Nora Keating, a notorious thief, who has been arrested 500 times within nine years, was sent to the penitentiary for two years. THE business portion of Flora, Ind., was burned. THE people of Seattle, Wash., were horrified by the discovery of dead human bodies in the city's main water reservoir. A TRAIN on the Indianapolis & Vincennes railroad was wrecked near Sanborn, Ind., and six persons were injured. BANDITS raided a bank at Adel, Ia., wounding the cashier and six others. Citizens killed one robber, captured the other and recovered the stolen money. IN the Third district of Michigan Lieut. Gov. Alfred Milnes, of Coldwater, was nominated as the republican candidate for congress. JOHN TOWNSEND, a prominent resident of Lynchburgh, o., worried by his daughter's marriage troubles, committed suicide by drowning. FREE silverites of the Third congressional district met in Battle Creek, Mich., and indorsed A. M. Todd, of Kalamazoo, the prohibition candidate for congress. SENATOR PEFFER in a speech at Canton, O., predicted that the populists would be absorbed by a new anti-monopoly party. IT was found that John L. Clark, of Muskegon, Mich., wanted at Sacramento, Cal., for bigamy, had at least four wives. AT a crossing near St. Joseph, Mo., Joel Mallory, 80 years of age, his sonin-law, John Williamson, and Reuben McBride were killed by the cars. THE Idaho legislature elected George L. Shoup, of Salmon City, United States senator to succeed himself. THE legislature of Missouri passed a bill prohibiting pool selling and bookmaking except upon race courses during the racing season. SOME 300 negroes started from Mississippi and Arkansas to found a colony in Liberia. THE democrats of the Third Michigan district nominated Patrick H. Gilkey for congress.

10. March 16, 1895 Perrysburg Journal Perrysburg, OH
Article from Perrysburg Journal, March 16, 1895

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The News Condensed. Important Intelligence From All Parts. DOMESTIC. KEATING, a notorious within thief, nine who NORA arrested 500 times to the has been was sent from Chicago penitentiary years, for two years Locust valley coal mine the build- near THE was burned with loss of Milan, ings and Mo., machinery, entailing a $100,000. FIRE destroyed the business portion Flora, a village in Indiana. of of Seattle, Wash., were human horPEOPLE the discovery of dead reserbodies rified by in the city's main water voir. First national bank of through TexTHE Tex., closed its doors arkana, inability to meet its obligations. Wingate Mercantile company receiver's at Kansas THE City Mo., went into a hands with liabilities of $110,000. MRS. ELIZA COWEN and three lying chilof Northfield O., were dried at dren. the point of death, poisoned by beef. PASSENGER train on the Indianapo- wrecked A Vincennes railroad was near lis & Sanborn, Ind., and six persons were injured. HANDITS raided a bank at Adel. six Ia.. Two wounding the cashier one and robber, captured others. Citizens the other killed and recovered the money. stolen East Pennsylvania conference church THE the United Evengelical congress of resolutions scoring Sunday. adopted continuing in session on for A GENERAL strike among ordered Pennsyl- for an increase in wages. vania coal miners was Twenty thousand men THE were late involved. Fred Douglass left an esvalued at $200,000. M. tate A. DANA and William CHARLES editor and publisher respective- indicted Laffan, the New York Sun, were B. Noyes, ly of criminallibel upon Frank for business manager of the Washington Evening Star. by his daughter's marriage WORRIED John Townsend, a committed prominent resident troubles. of Lynchburgh, O., suicide by members drowning. of the Detroit fire THREE while responding injured to by an a alarm department were run down and train. A. WING. for thirty-eight (Mass.) HENRY cashier of the Grafton shootyears national bank, killed himself by ing. CHAUNCEY M. DEPEW is having built pertheater car. in which a miniature trains a will be given on night New York and between formance Buffalo. Scatterfield white cap gang and of THE Ind., burned the barn whom stock Anderson, of Isaac Goodman, against they had masked a spite. robbers visited the borough, home Six Wagner, of Exeter to Pa., and tort of George burned him in an effort exmoney. hundred negroes started found from a Mississippi THREE and Arkansas to colony THE supreme in Liberia. court at cases. Washington Appellants took up will the attempt income to tax prove the new law unconstitutional. Senator IN a speech at Canton, the O., populists predicted that antiwould Peffer be absorbed by a new monopoly Missouri party. legislature passed bookmak- a bill THE pool selling and during the ing except prohibiting upon race-courses racing season. MRS. MICAH DYER, Jr., a society of twenty leadin Boston and member petier clubs. filed a voluntary were tion women's in insolvency. Her liabilities $100,000. JOHN L. CLARK, of Muskegon. for Mich., bigamy, wanted was at found Sacramento, to have Cal.. at least four wives. MALLORY, 80 years of and age, Reu- his JOEL John Williamson, the cars son-in-law, McBride, were killed by Mo. ben crossing near St. Joseph, at a exchanges at the leading during clearTHE in the United States ing week houses ended on the 8th aggregated the $1,002,852,773, the against $770,100,683 comweek. The increase. week in 6.8. previous pared with the corresponding 1694, was CHARLES A. DANA, of the libel, New EDITOR indicted for criminal and was surrendered York Sun. to the authorities released on his own recognizance. were 234 business failures days in THERE United States in the seven 250 the the the 8th, against week ended previous on and 248 in the corresponding Illinois time in legislature 1894. adopted the a THE providing for hoisting every resolution national flag over the state house of the day HARRY of murder the HAYWARD year. of Catherine was found Ging guilty at Minneapolis. arriving at San Francisco terrific VESSELS having encountered a of earthquake reported at sea the morning March cordage 12. works of William Y., were Wall THE in Williamsburg. N. 1,000 permanently & Sons closed, throwing men out of work. to the March report Michigan of ACCORDING of state the exthe wheat secretary crop for 1894 is already hausted. WATKINS was hanged murder at of Lit- a THOMAS Rock, Ark., for the Watkins detle named O'Bannon. last. THE steamboat man clared his innocence Longfellow to the ran raninto

11. March 31, 1895 The Daily Texarkanian Texarkana, AR
Article from The Daily Texarkanian, March 31, 1895

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Bank Depositors Meet. This morning at 10 o'clock, depositors in the First National Bank, recently closed, met at the office of attorney W. H. Arnold, and recommended Mr. A. M. Garrison as Receiver to wind up the affairs of the bank. Notwithstanding, he stated he could not serve if recommended, Mr. Arnold received a large vote for the position as Receiver. In the meeting Mr. Joe Burlingaime acted as chairman and S. S. Solinsky as secretary. If the government will act upon the recommendation of the deposi tors, and appoint Mr. Garrison, he will fill the place as Receiver with credit to himself and to the satisfaction of all concerned, we believe. He is a good business man, possessing the confidence of the community,

12. April 2, 1895 The Daily Texarkanian Texarkana, AR
Article from The Daily Texarkanian, April 2, 1895

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Dispatches to-day announce that Thomas M. Thoruton, of Shelbyville, Illinois, has been appointed as receiver of the First National Bank, of this city. On account of a split among home people, appointment was made from another state.

13. April 23, 1895 The Daily Texarkanian Texarkana, AR
Article from The Daily Texarkanian, April 23, 1895

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The First National Bank doors were opened today for the first time since Mr. Andrews closed it on the 6th of April. The receiver, Mr. Thornton had many callers, but as he has just taken charge it is not reasonable to expect him to pay off any claims until he makes a clear inventory and see what can be realized out of the many dollars worth of paper now in bank. The reporter called to see him, but he looked like he had his hands full answering depositors all kind of questions and the scribe knew he did not want to be bothered further. We will however try and get an interview, and publish any matter that he may give out that will throw light on how and when depositors may expect to get their money, or part of it.

14. June 16, 1895 The Daily Texarkanian Texarkana, AR
Article from The Daily Texarkanian, June 16, 1895

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Col. Thornton, receiver of the First National bank, of this city, was called to Dallas, Texas, yesterday.

15. July 11, 1895 The Daily Texarkanian Texarkana, AR
Article from The Daily Texarkanian, July 11, 1895

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Receiver Thornton, of the First National Bank, has been putting in some good work, collecting up its paper. The Comptroller of currency has notified him that a dividend of 30 percent has been declared on all approved claims against the bank, which will be paid as soon as the schedule and checks can be filled out and forwarded to Washington for the signature of the Comptroller. Thus the depositors and creditors of this bank are being paid their money. It is not yet known whether or not all claims will be paid off in full. Few such banks pay up over half or two thirds of the liabilities.

16. July 30, 1895 The Progressive Farmer Raleigh, Winston-Salem, Winston, NC
Article from The Progressive Farmer, July 30, 1895

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UN-"SOUND MONEY" MEN. I These Are the Men Who Have Been Clamoring for "Sound, Honest Money" The bank at Norborne, Ohio, and the Carrolton county bank, are both in the hands of receivers. Depositors have begun criminal pro. ceedings against the Merchants National bank, unsound, at Seattle, Washington. L T. Parrish, cashier of the bankst Orrick, Mo, has gone, and $20,000 cold, hard, clammy dollars left the same day. C. D. Davies, manager, of the bank at East Peru, Iowa, has escaped with $28,000 belonging to depositors. The bank du People, at Montreal. Canada, has closed its doors. On July 5th it reported $6,520,869 deposits, and it is believed that this has all been stolen. An Ioway banker escaped with $28,000 a few days ago. He carried the money in a valise. This amount in silver would weigh something like 1,600 pounds, hence you can readily see that such money don't suit bankers No wonder they claim it is not good abroad. But it is good at home. S B Andrews, cashier of the defunct First National bank, Texarkana, Texas, is under a bond of $10,000 for making false returns to the comptroller of the Treasury of the United States.

17. November 15, 1895 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, November 15, 1895

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A $15,000 Judgment. Little Rock, Ark., Nov. 14.-Thomas M. Thornton, receiver of the First National bank of Texarkana, Ark., secured in the federal court this morning a judgment against J. H. Draughon for $16,357.45 on promissory notes and verified accounts.

18. January 1, 1896 The Daily Texarkanian Texarkana, AR
Article from The Daily Texarkanian, January 1, 1896

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Col. Thornton, receiver of the 1st National Bank of this place, has received notice from the Comptroller of currency at Washington that he could declare another dividend of 30 per cent. to depositors. This will make 60 per cent. the depositors will have thus far.received, and Col. Thornton thinks it will not be long before he will have collected up enough to declare another dividend. A good showing.

19. March 10, 1896 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, March 10, 1896

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LATE NEWS BY WIRE Items of General Interest From All Over the Universe, London, March 9.-United States Ambassador Bayard is suffering from a slight attack of influenza. Moberly, Mo., March 9.-Dr. M. R. Yewel, aged 75, a pioneer citizen, is dead here of Bright's disease. San Antonio, Tex., March 9.-Mrs. George R. Peck, wife of the Santa Fe railway official, died this morning. New York, March 9.-Rear Admiral Henry Walker died at his home in Brooklyn yesterday, after a short illness. Fort Worth, Tex., March 9.-The twentieth annual meeting of the Cattle Ranchers' Association of Texas convened in this city this morning. St. Johns, N. F., March 9.-The seal fishery is being prosecuted vigorously. Two steamers left today for the ice fields, taking eight thousand men. Washington, March 9.-The president held his first tri-weekly reception to the public at the White House today, after a suspension of nearly two years. About two hundred persons took advantage of the opportunity to shake hands with the president. San Francisco, March 9.-The Pacific Mail Stemship company's big liner City of Rio de Janeiro, which left here for the Orient heavily laden February 6, has not yet arrived at her destination, although ten days overdue. Fears are expressed for her safety. Washington, March 9.-The comptroller of the currency has declared dividends in favor of the creditors of insolvent national banks as follows: Ten per cent, First National bank of Redfield. S. D.: 20 per cent, the First National bank of Texarkana, Tex. St. Louis, March 9.-Mrs. Chauncey Ives Filley, wife of the prominent Republican leader, died at her home today after an illness of one week, of pneumonia. The deceased was 65 years of age and would shortly have celebrated the 41st anniversary of her marriage with Mr. Filley. New York, March 9.-The inquest in the case of the two children of George R. Kelso, who were killed by their mother while she was insane, has been definitely postponed. It was to have been begun today before Deputy Coroner Fitzpatrick, but that official is ill, and the case was accordinly adjourned by Coroner Hoeber. Omaha, March 9.-A special to the Bee from La Porte, Ia., says: : Ike Cohen, one of the merchants arrested Saturday night on the charge of starting the big fire which resulted so disastrously for that city, is dangerously ill. The state insists that the Cohen brothers were trying to create the impression that fireburs were numerous in La Porte.

20. March 11, 1896 The Houston Daily Post Houston, TX
Article from The Houston Daily Post, March 11, 1896

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declared a dividend of 20 per cent in favor of the creditors of the insolvent First National bank of Texarkana, Texas. The president hold his first tri-weekly reception to the public at the White House today after a suspension of nearly two years. About 200 persons took advantage of the opportunity to shake the prestdont's hand.

21. May 5, 1896 The Daily Texarkanian Texarkana, AR
Article from The Daily Texarkanian, May 5, 1896

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Colonel Thomas Thornton, receiver of the First National bank of Texarkana, Texas, has returned from a visit to Dallas.