Merchants & Farmers National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 7360
Charter Number: 7360
Start Date: November 13, 1915
Location: Cisco, Texas (32.388, -98.979)

Metadata

Model: gpt-5-mini
Short Digest: c471a236

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1915-11-12
Date receivership terminated: 1921-09-30
OCC cause of failure: Fraud
Share of assets assessed as good: 53.9%
Share of assets assessed as doubtful: 42.2%
Share of assets assessed as worthless: 3.9%

Description

Newspapers from Nov 1915 report the bank closed its doors after the cashier disappeared and had made excessive loans. Later 1916 notices show Paul C. Keyes acting as receiver, confirming permanent closure and receivership. No article mentions a depositor run — cause is bank-specific adverse information (cashier disappearance/excessive loans).

Events (6)

1. August 13, 1904 Chartered

Source: historical_nic

2. November 12, 1915 Receivership

Source: historical_nic

3. November 13, 1915 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Cashier disappeared and had made excessive loans to the bank, prompting the bank to close its doors.
Newspaper Excerpt: Following the disappearance of its cashier, the Merchants' and Farmers' National bank of Cisco, Tex., closed its doors. The cashier's loans with the bank were excessive.
Source: newspapers

4. November 19, 1915 Other

Newspaper Excerpt: The Merchants and Farmers' National bank of Cisco, Texas, has closed dts doors upon the disappearance of the cashier, whose loans with the institution were excessive.
Source: newspapers

5. December 3, 1915 Other

Newspaper Excerpt: Comptroller of Currency Williams announced that the Merchants and Farmers National bank of Cisco, Tex., had closed its doors upon the disappearance of the cashier, whose loans with the institution were excessive.
Source: newspapers

6. April 21, 1916 Receivership

Newspaper Excerpt: Paul C. Keyes, Receiver of the Merchants & Farmers National Bank, Cisco, Texas.
Source: newspapers

Newspaper Articles (7)

1. November 13, 1915 Norwich Bulletin Norwich, CT

Article from Norwich Bulletin, November 13, 1915

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Article Text

Kaiser Wilheim decorated Mrs. James W. Gerard, wife of the American ambassador, with Red Cross gold medals of the first and second class. William J. Walsh of Bayonne, N. J., a special policeman employed in the Sunnyside yards in Long Island City, was struck and killed by a train. Following Wednesday's fire at the Bethlehem Steel Co.'s plant, 100 guards, the company's entire special police force, were picketed about the works. W. R. Grace & Co. of New York are reported to have purchased the entire Panama fleet, consisting of six steamers, of the Pacific Mail Steamship Co. The police department census of the borough of Manhattan shows the population of the borough to be 2,295,671, or 192,465 more than the recently taken state census. Ezra Winter and Eugene Savage, American artists, who were thought to have been on the torpedoed liner Ancona, are safe in Italy, having postponed their sailing. All the crew of the British steamer D. A. Gordon, which was wrecked on the Canadian coast, between St. John, N. B., and Sydney, N. S., are believed to have perished. Following the disappearance of its cashier, the Merchants' and Farmers' National bank of Cisco, Tex., closed its doors. The cashier's loans with the bank were excessive. The lumber-laden schooner Empress, Bridgewater for New York, caught fire during a gale, while anchored at Barrington Passage, N. S. It is thought that she will be a total loss. The collier Transportation, outward bound for Norfolk, was stopped in New York harbor by the neutrality patrol and ordered to return to quarantine. The ship had failed to clear. Representatives from cities and towns in Massachusetts and other other states attended the third annual conference of city, and town planning boards which opened at Boston. Irving Watkins, aged 33, colored, of Torrington, was sentenced to state's prison for from 11 to 15 years for an assault committed on an 11 year old colored girl of Torrington on Oct. 30. Coast guard headquarters in Washington announced that three coast guard cutters are on their way to relieve vessels in distress in a serious gale reported off the north Atlantic coast. George W. Eberhardt, member of the New York stock exchange and representative of the Pittsburgh firm of G. W. Eberhardt Co., was suspended for one year for dealing with bucket shops. Reports that W. S. Winham, formerly a banker of Pasadena, Cal., had been murdered by Mexican bandits in the territory of Tepec, Mex., were received by Los Angeles friends of Mr. Windham. Miss Nettie Folsom, 75 years of age, was burned to death in her home at Lynn, Mass. She was alone at the time and it is believed that her clothing was accidentally ignited when she lighted a match. The schooner Kitty A., used by a scientific... expedition to the Azores, Madeira and Canary Islands, returned to Newport, R. I. with more than 500 specimens of birds and animals for Harvard university.

2. November 19, 1915 The Meridian Times Meridian, ID

Article from The Meridian Times, November 19, 1915

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Article Text

NEWS OF A WEEK IN CONDENSED FORM RECORD OF THE IMPORTANT EVENTS TOLD IN BRIEFEST MANNER POSSIBLE. Happenings That Are Making History -Information Gathered from All Quarters of the Globe and Given in a Few Lines. INTERMOUNTAIN. Two burglars entered the home of Hyrum G. Hatcher at Salt Lake, knocked down, bound, gagged and chloroformed his wife, Mrs. Maude Hatcher, 38 years of age, and then proceeded to deliberately ransack the house. Three persons were instantly killed and two others probably fatally in jured at Twin Falls, Idaho, when a freight train crashed into an automobile driven by Henry P. Larson at a crossing at the south edge of the city. Eight indictments were returned by the federal grand jury at Cheyenne, Wyo., against Edward F. Trafton, charged with holding up fifteen stage coaches in the Yellowstone National Park July 29, 1914. Informations charging counsel for the United Mine Workers of America with subornation of perjury were quashed in the district court at Trinidad, Colo. Beachcombers, pillaging the wrecked steamship Santa Clara, near Marshfield, Ore., set the hulk afire. She blazed up from stem to stern and fell to pieces with the explosion of her oil tanks. After suffering agonies from burns accidentally received over seven weeks ago, while building a fire in the kitchen stove, Mrs. Domantile Adamson Oakey died at American Fork, Utah. Aside from a score or more of miners who have left town or secured employment elsewhere in the district, It is estimated that all of the striking employes of the Silver King Coalition properties at Park City, Utah, who walked out are back at work. DOMESTIC. The boundary line between Mexico and the United States has been chalked and marked at fifty-yard intervals by American flags at Naco, Ariz. This action was taken after a Villa soldier, escaping from Naco, Sonora, had been pursued by Villa cavalry across the boundary. Socialists of Texas in session at Waco, Texas, adopted a platform which contains the recommendation that the manufacture or sale of liquor in Texas be made a felony. A hydroplane is to be shipped from New York to Bogota, Colombia, where she will be used to carry the mails and government officials down the Magdalena river, between the capital and the coast, 600 miles. Four Chicagoans were killed when a passenger train struck their automobile at a grade crossing near Elgin, Ills. On allegations that they defrauded the government by shipping whisky concealed in coffins, four Chattanooga, Tenn., men were indicted by the federal grand jury. It is officially announced that Winston Spencer Churchill, chancellor of the duchy of Lancaster, has resigned from the cabinet and will join the army in France. American railroads are confronted with one of the most serious car shortages of recent years, owing to the huge grain crop of this country and Canada and the heavy tonnage from steel and munitions plants, cou pled with the inability of the railroads to get new cars fast enough. Refusal to indorse President Wilson's proposal for a continental army of 400,000 men marked the closing session at San Francisco of the sev enteenth annual convention of the National Guard association of the United States. That the United States is the only civilized nation which has not already in operation a system of rural credits, and that this nation must capitalize its settlers before its own sons can return to the farms, was the declara tion of Professor Elwood Mead of the University of California, speaking Thursday before the National Grange, Patrons of Husbandry, in session at Oakland. Twelve persons were killed and more than one hundred injured, many of them seriously, in a tornado which swept through the residence section of Great Bend, Kansas. The property loss is estimated at half a million dolMars. The superdreadnought Nevada com pleted another of her official trials Tuesday by running twenty-four hours at a ten-knot speed and consuming six pounds less oil per knot than her con tract required. The Merchants and Farmers' Na tional bank of Cisco, Texas, has closed dts doors upon the disappearance of the cashier, whose loans with the insti tution were excessive. As part of a plan to equip police men for warfare, all members of the New York police force have been no tified that they will be offered in structions in the handling of rifles. In an address at Chicago at a ban quet of the National Security league William H. Taft, former president o the United States, declared himself i favor of military preparedness.

3. December 3, 1915 Sioux County Pioneer Fort Yates, ND

Article from Sioux County Pioneer, December 3, 1915

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Article Text

WASHINGTON. President Wilson has appointed Former President William Howard Taft chairman of the central committee of the American Red Cross, to succeed Major General George W. Davis, retired. ... Considerable territory in northern Illinois is freed from the live stock foot and mouth disease quarantine by an order issued by the Department of Agriculture to become effective immediately. * * * An official hydroaeroplane record of 11,000 feet, made by Lieutenant Sauffley at the Pensacola naval aviation station, was announced by the Navy department. Because the needle of the recording machine ran off the sheet at the 9,000-foot mark. the record cannot be recognized as official. Tariffs of transcontinental railroads proposing an increase in carload rates on lumber and forest products from Easton and other points west of Spokane in the state of Washington to destinations in North and South Dakota, Nebraska, and other states, were suspended by the interstate commerce commission until March 10. ... Comptroller of Currency Williams nounced that the Merchants and Farmers National bank of Cisco, Tex., had closed its doors upon the disappearance of the cashier, whose loans with the institution were excessive. Reappointment of Surgeon General Rupert Blue of the public health service has been decided upon. Secretary McAdoo will recommend to President Wilson a reappointment for another term of four years, beginning on January 1. Conditions in Mexico are improving and there are signs that give hope for a gradual return to order and prosperity there, according to a summary of advices from various parts of the republic made public by the State department. The allies' blockade of Germany, Austria, Holland and Scandinavia countries is ineffective as well as illegal and indefensible, and the United States will no longer submit to it. says the state department's note of October 21 to Great Britain. Educational and technical books in German and other languages coming from countries at war with Great Britain may be imported into the United States under the terms of a notice given to the state department by Sir Richard Crawford, commercial adviser of the British embassy. The nation's principal farm crops this year are worth about five and a half billion dollars. exceeding by more than half a billion their value in 1914 according to statistics announced by the Department of Agriculture.

4. April 7, 1916 The Snyder Signal Snyder, TX

Article from The Snyder Signal, April 7, 1916

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Article Text

FOR SALE-FLUVANNA LOTS Six lots in block No. 124, Nos. 7, 8, 9, 10, 11 and 12. Two lots in block No. 145, parts of Nos. 10, 11 and 12, each 50 by 100 f eet. Make me an offer on any or all of the above as they will go to the first man who will pay a reasonable price. Paul C. Keyes, Receiver . of the Merchants & Farmers Nation46. al Bank, Cisco, Texas.

5. April 14, 1916 The Snyder Signal Snyder, TX

Article from The Snyder Signal, April 14, 1916

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Article Text

FOR SALE-FLUVANNA LOTS Six lots in block No. 124, Nos. 7, 8, 9, 10, 11 and 12. Two lots in block No. 145, parts of Nos. 10, 11 and 12, each 50 by 100 f eet. Make me an offer on any or all of the above as they will go to the first man who will pay a reasonable price. Paul C. Keyes, Receiver of the Merchants & Farmers Nation46. al Bank, Cisco, Texas.

6. April 21, 1916 The Snyder Signal Snyder, TX

Article from The Snyder Signal, April 21, 1916

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Article Text

FOR SALE-FLUVANNA LOTS Six lots in block No. 124, Nos. 7, 8, 9, 10, 11 and 12. Two lots in block No. 145, parts of Nos. 10, 11 and 12, each 50 by 100 feet. Make me an offer on any or all of the above as they will go to the first man who will pay a reasonable price. Paul C. Keyes, Receiver of the Merchants & Farmers National Bank, Cisco, Texas. 46.

7. April 28, 1916 The Snyder Signal Snyder, TX

Article from The Snyder Signal, April 28, 1916

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Article Text

FOR SALE-FLUVANNA LOTS Six lots in block No. 124, Nos. 7, 8, 9, 10, 11 and 12. Two lots in block No. 145, parts of Nos. 10, 11 and 12, each 50 by 100 f eet. Make me an offer on any or all of the above as they will go to the first man who will pay a reasonable price. Paul C, Keyes, Receiver of the Merchants & Farmers Nation46. al Bank, Cisco, Texas.