21127. First National Bank (Fort Stockton, TX)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
9848
Charter Number
9848
Start Date
August 1, 1932*
Location
Fort Stockton, Texas (30.894, -102.879)

Metadata

Model
gpt-5-mini
Short Digest
2c05a09e

Response Measures

None

Receivership Details

Depositor recovery rate
32.1%
Date receivership started
1931-10-13
Date receivership terminated
1940-05-17
OCC cause of failure
Governance
Share of assets assessed as good
60.5%
Share of assets assessed as doubtful
33.1%
Share of assets assessed as worthless
6.4%

Description

Newspaper articles (Aug 5, 1932 and Jun 4, 1933) refer to the First National Bank of Fort Stockton as 'failed' or 'closed' and mention a receiver (Frank M. Lynch). No article describes a depositor run prior to suspension; events indicate the bank failed, was closed, and a receiver was appointed and was pursuing asset recovery. Dates are taken from article publication dates when specific closure dates are not given.

Events (5)

1. September 13, 1910 Chartered
Source
historical_nic
2. October 13, 1931 Receivership
Source
historical_nic
3. August 1, 1932* Receivership
Newspaper Excerpt
Lynch, the receiver for the failed First National Bank of Fort Stockton in his suit against J. A. McDonald and S. C. Johnson.
Source
newspapers
4. August 1, 1932* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank is described as 'failed' and receiver is pursuing claims; insolvency/creditor claims prompted closure.
Newspaper Excerpt
the failed First National Bank of Fort Stockton
Source
newspapers
5. June 4, 1933 Receivership
Newspaper Excerpt
Frank M. Lynch, receiver of the bank, is seeking to levy on $16,000 worth of stocks and bonds ... in the closed First National bank of Fort Stockton. A mandamus suit ... was filed ... to force ... executors ... to open a safety deposit box in the closed First National bank of Fort Stockton.
Source
newspapers

Newspaper Articles (3)

Article from San Angelo Morning Times, August 5, 1932

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Article Text

FROM THE TOP WINDMILL OF THE As Seen by Sam Ashburn The vegetables being sold by the local stores are being raised locally. Farmers are getting about the following prices for produce: green onions, 15 cents a dozen bunches; carrots, 15 cents a dozen bunches; beets, 15 cents a dozen bunches; cucumbers 50 to 60 cents a bushel; blackeyed peas, one cent a pound; tomatoes are few and yet are cheap, many coming from Parker County: lots of cantaloupes in this immediate area, but not so many watermelons grown locally. Two or three truck farmers tried celery this year but failed. The lettuce supply is coming over the mountains from California. Dan Wills of Crockett County nad 300 fat lambs on the Oklahoma market recently, weight 63 pounds, price $4.50. It was one of the best bunches of lambs shipped out in a good while. The first car of cantaloupes to leave Fort Stockton for the eastern points passed through here yesterday, carrying 20,000 pounds of Trans Pecos melons, most delicious melon offered on the market. The car was consigned to the United Distributors of New York and will arrive in New York in seven days. It is the first of the 150 cars that are expected to leave Fort Stockton The car will sell on arrival in New York. Cantaloupe cars are consigned to distributors who direct them to the market where they will sell best. The lambs bought by the Texas Livestock Marketing Association from Arthur Phillips of Crockett County at 2 1-2 cents a pound were cull lambs. He had shipped out 75 per cent of his lambs and this was the cutbacks left. Most ranchmen are talking 3 to cents pound for feeder lambs and many say if they do not get cents pound they will feed them themselves. Ballinger is planning to feed a large number of lambs. Rains are falling across the Pecos, for in that section the rainy season comes in July and August. That will mean a lot of fat stuff in that section in 30 to 40 days. Sim Weatherby got good rains in his Pinto canyon country. The boys with the thinnest trousers these, days are the promoters. They were princes of prosperity in 1928 and made money for everybody as well as themselves. There is little demand for their services now and of course few of them have a dime now. The Federal Intermediate Credit bank is reported to have agreed to finance some large feeding operations in the Del Rio country. Joe Montague has returned from Kansas where he shipped some cattle he had had on grass. There is one wool buyer in the country who will give 3-4 cents a pound for wool but won't ante up with dime. W. A. Miers. Texas' largest sheep. man and resident of Sonora passed through here yesterday en route to Brownwood, where last year he fed about 18,000 head of lambs and several hundred head of cattle. He plans to feed some of his lambs and old ewes this year. He can buy corn at 25 cents a bushel delivered in Brownwood. Jax Cowden is in from his Crane County ranch. J. K. Barfield, who had the Mrs. Fred Hokit place in Pecos County under lease is to move to 7700-acre tract in Howard County near Sterling City, lease price 35 cents an acre. Mr. Barfield fed a good many lambs last fall at Fort Stockton with D. S. Beeman. He'll trail his stock across the country. J. S. Purdy, freight and passenger agent for the G. C. and S. F. here yesterday said crops from here to Temple are the best in years. Wool Growers Central Storage Company sold Wednesday to Sumner Willis, buyer for Walter Mars ton a carload of wool. W. M. Newland of the West Texas Lumber Company has returned from Richland Springs where he sold windmill to John Gibbons and Ed Gibbons. The grass on the ranches is the finest in years. A sheep sorter went into the Alpine country recently to sort some sheep, and ship the fat ones to market. The flocks were gathered and thrown into a 13 section shearing trap, the smallest pasture on the place. Thursday in Judge Joe Montague's court in Fort Stockton, the court ruled against Lynch, the receiver for the failed First National Bank of Fort Stockton in his suit against J. A. McDonald and S. C. Johnson. The receiver Lynch sought to enjoin a foreclosure awarded McDonald from Johnson, to pay McDonald a sum of $16,000 assertedly due him from Johnson, who was president of the bank. The receiver asked that the foreclousre order ordering some business property of Johnson to be sold to satisfy the claim of Mc. Donald, be set aside on the grounds that the transfer of property would defeat creditors of the failed bank. The receiver was represented by R. D. Blaydes, the defendants by James Cornell McDonald claims he bought note for $16,000 that Johnson cave another and the court ruled last fall that he was entitled to foreclosure of certain of John. on's property. Pat Jackson shipped yesterday from Llano to Best, 250 steers bought in Llano County. Wade Brothers of Eldorado have leased 30 sections of land from the Big Canyon ranch of Sanderson. Wade Brothers have ranches at Eldorado, in Kerr County and two between Sheffield and Dryden. Their Kerr County ranch is one of the best game sites in the country. Some recent Texas sales of cattle on Kansas grass follow: Joe Montague, 50 steers, weight 969, price, $6; G. R. White of Brady, 25 steers, weight 1057. price $6; Noelke ranch of Mertzon, 24 steers, weight 1106, price $6.75: Lee and Roy Kincaid of Halifax, Kas., who buy each year numerous cattle in the southwest had 26 steers, weight 1065, price $5.80. The rain at Marfa last week was 1.11 inches according to the government gauge at Marfa. It was the first in a good many months. About 1000 or more calves have moved out of the Big Bend country to the cornbelt They have been sent out on some kind of consignment basis, the details of which are unavailable here just now. Good rains at Rankin, Sheffield and Iraan on Wednesday. W. A. Miers loaded seven doubles of feeder yearlings at Rankin in recent days. John Williams of Sheffield had a string of spring lambs, weight 72 pounds, price 5 cents pound on the K. C. market this week. They were sorted by Thad Boswell of the Cassidy Southwestern Commission Co. The tax assessor of Brown County put the several thousand lambs which were on feed in Brown County at the first of the year on the tax rolls. J, L. Williams has bought 135 head of yearlings in Sterling City and is moving them to Eden. Pearl Rankin of Rankin has sold a string of aged ewes and feeder lambs to go to a northern feed er. Tom Russell and Ed Mears of Menard are St. Angelus guests. The history of the War Finance Corporation which was formed fol lowing the panic at the close of the World War, is that it helped the country vast deal and lost little if any money at all in Texas on its loans, remembers Martin Grey of the Chicago Livestock Loan Company. Mr. Grey was associated with the corporation in the handling of its affairs in the southwest and was particularly active in its New Mexico adjustments The corporation was formed quickly, functioned rapidly and brought the country new credit when it needed it just as the Reconstruction Fin ance Corporation through its broad ened scope may do today. Theo Savell, shipped out 600 yearling muttons from Sonora, to Breedlove Commission Co. of Fort Worth. They brought him back $1.95 head net. Ira Green, who recently leased 20 sections in Maverick County, from the Indio ranch of Bob Martin, was here yesterday from Sonora. No other leases of land have been made by the Indio. Mr. Green was here doping sheep for Abe Mayer. Wool Growers Central Storage Company sold yesterday 76,000 pounds of wool to Wright Brothers of Boston; and 35,000 pounds to Tom Ritchey, buyer for A. W. Hilliard and son of Boston. T. A. Kincaid, president of the Sheep and Goat Raisers Associa-


Article from San Angelo Morning Times, August 5, 1932

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Article Text

FROM THE TOP WINDMILL OF THE As Seen by Sam Ashburn The vegetables being sold by the local stores are being raised locally. Farmers are getting about the following prices for produce: green onions, 15 cents a dozen bunches; carrots, 15 cents a dozen bunches; beets, 15 cents dozen bunches; cucumbers 50 to 60 cents a bushel; blackeyed peas, one cent a pound; tomatoes are few and yet are cheap, many coming from Parker County: lots of cantaloupes in this immediate area, but not so many watermelons grown locally. Two or three truck farmers tried celery this year but failed The lettuce supply is coming over the mountains from California. Dan Wills of Crockett County nad 300 fat lambs on the Oklahoma market recently, weight 63 pounds, price $4.50. It was one of the best bunches of lambs shipped out in a good while. The first car of cantaloupes to leave Fort Stockton for the eastern points passed through here yesterday, carrying 20,000 pounds of Trans Pecos melons, most delicious melon offered on the market. The car was consigned to the United Distributors of New York and will arrive in New York in seven days. It is the first of the 150 cars that are expected to leave Fort Stockton The car will sell on arrival in New York. Cantaloupe cars are consigned to distributors who direct them to the market where they will sell best. The lambs bought by the Texas Livestock Marketing Association from Arthur Phillips of Crockett County at 2 1-2 cents a pound were cull lambs. He had shipped out 75 per cent of his lambs and this was the cutbacks left. Most ranchmen are talking to cents a pound for feeder lambs and many say if they do not get cents a pound they will feed them themselves. Ballinger is planning to feed a large number of lambs. Rains are falling across the Pecos, for in that section the rainy season comes in July and August. That will mean lot of fat stuff in that section in 30 to 40 days. Sim Weatherby got good rains in his Pinto canyon country. The boys with the thinnest trousers these days are the promoters. They were princes of prosperity in 1928 and made money for everybody as well as themselves. There is little demand for their services now and of course few of them have a dime now. The Federal Intermediate Credit bank is reported to have agreed to finance some large feeding operations in the Del Rio country. Joe Montague has returned from Kansas where he shipped some cattle he had had on grass. There is one wool buyer th the country who will give 3-4 cents pound for wool but won't ante up with dime. W. A. Miers, Texas' Jargest sheepman and resident of Sonora passed through here yesterday en route to Brownwood, where last year he fed about 18,000 head of lambs and several hundred head of cattle. He plans to feed some of his lambs and old ewes this year. He can buy corn at 25 cents a bushel delivered in Brownwood. Jax Cowden is in from his Orane County ranch. J. K. Barfield, who had the Mrs. Fred Hokit place in Pecos County under lease is to move to a 7700-acre tract in Howard County near Sterling City, lease price 35 cents an acre. Mr. Barfield fed a good many lambs last fall at Fort Stockton with D. S. Beeman. He'll trail his stock across the country. J. S. Purdy, freight and passenger agent for the G. C. and S. F. here yesterday said crops from here to Temple are the best in years. Wool Growers Central Storage Company sold Wednesday to Sumner Willis, buyer for Walter Marston a carload of wool. W. M. Newland of the West Texas Lumber Company has returned from Richland Springs where he sold windmill to John Gibbons and Ed Gibbons. The grass on the ranches is the finest in years. A sheep sorter went into the A1pine country recently to sort some sheep, and ship the fat ones to market. The flocks were gathered and thrown into a 13 section shearing trap, the smallest pasture on the place. Thursday in Judge Joe Montague's court in Fort Stockton, the court ruled against Lynch, the receiver for the failed First National Bank of Fort Stockton in his suit against J. A. McDonald and S. C. Johnson. The receiver Lynch sought to enjoin a foreclosure awarded McDonald from Johnson, to pay McDonald a sum of $16,000 assertedly due him from Johnson, who was president of the bank. The receiver asked that the foreclousre order ordering some business property of Johnson to be sold to satisfy the claim of McDonald, be set aside on the grounds that the transfer of property would defeat creditors of the failed bank. The receiver was represented by R. D. Blaydes, the defendants by James Cornell. McDonald claims he bought a note for $16,000 that Johnson cave another and the court ruled last fall that he was entitled to a foreclosure of certain of John. on's property. Pat Jackson shipped yesterday from Llano to Best, 250 steers bought in Llano County. Wade Brothers of Eldorado have leased 30 sections of land from the Big Canyon ranch of Sanderson. Wade Brothers have ranches at Eldorado, in Kerr County and two between Sheffield and Dryden. Their Kerr County ranch is one of the best game sites in the country. Some recent Texas sales of cattle on Kansas grass follow: Joe Montague, 50 steers, weight 969, price, $6; G. R. White of Brady, 25 steers, weight 1057, price $6; Noelke ranch of Mertzon, 24 steers, weight 1106, price $6.75; Lee and Roy Kincaid of Halifax, Kas., who buy each year numerous cattle in the southwest had 26 steers, weight 1065, price $5.80. The rain at Marfa last week was 1.11 inches according to the government gauge at Marfa It was the first in a good many months. About 1000 or more calves have moved out of the Big Bend country to the cornbelt. They have been sent out on some kind of consignment basis, the details of which are unavailable here just now. Good rains at Rankin, Sheffield and Iraan on Wednesday. W. A. Miers loaded seven doubles of feeder yearlings at Rankin in recent days. John Williams of Sheffield had a string of spring lambs, weight 72 pounds, price 5 cents a pound on the K. C. market this week. They were sorted by Thad Boswell of the Cassidy Southwestern Commission Co. The tax assessor of Brown County put the several thousand lambs which were on feed in Brown County at the first of the year on the tax rolls. J, L. Williams has bought 135 head of yearlings in Sterling City and is moving them to Eden. Pearl Rankin of Rankin has sold a string of aged ewes and feeder lambs to go to a northern feed er. Tom Russell and Ed Mears of Menard are St. Angelus guests. The history of the War Finance Corporation which was formed following the panic at the close of the World War, is that it helped the country a vast deal and lost little if any money at all in Texas on its loans, remembers Martin Grey of the Chicago Livestock Loan Company. Mr. Grey was associated with the corporation in the handling of its affairs in the southwest and was particularly active in its New Mexico adjustments. The corporation was formed quickly, functioned rapidly and brought the country new credit when it needed it just as the Reconstruction Fin ance Corporation through its broad ened scope may do today. Theo Savell, shipped out 600 yearling muttons from Sonora, to Breedlove Commission Co. of Fort Worth. They brought him back $1.95 head net. Ira Green, who recently leased 20 sections in Maverick County, from the Indio ranch of Bob Martin, was here yesterday from Sonora. No other leases of land have been made by the Indio. Mr. Green was here doping sheep for Abe Mayer. Wool Growers Central Storage Company sold yesterday 76,000 pounds of wool to Wright Brothers of Boston; and 35,000 pounds to Tom Ritchey, buyer for A. W. Hilliard and son of Boston. T. A. Kincaid, president of the Sheep and Goat Raisers Associa-


Article from El Paso Times, June 4, 1933

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Article Text

Ft. Stockton Bank Receiver Wants Safety Box Opened A mandamus suit to force R. E. Eddis and Helon Harral Hokit, Fort Stockton, executors of the Harral estate, to open a safety deposit box in the closed First National barrk of Fort Stockton. was filed in federal district court here yesterday Frank M. Lynch, receiver of the bank. is seeking to levy on $16,000 worth of stocks and bonds, said to be a part of the estate and alleged to be hidden in the lock box. Lynch on March 27 received 86800 judgment against the estate. Federal Judge Charles A. Boynton issued an order for Mrs. Hokit and Ellis to appear in court here June 30 to show cause why an order for them to surrender the key or to open the box should rot be placed in the hands of the U.S. marshal.