Merchants & Mechanics Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 12, 1914
Location: Argenta, Arkansas

Metadata

Model: gpt-5-mini
Short Digest: b563cb91

Response Measures

None

Description

Article (Little Rock, Jan. 12, 1914) reports the State Banking Commissioner closed the Merchants' and Mechanics' Bank of Argenta and an examiner took over. Closure was by government action after depositors had been withdrawing funds; no clear discrete run is described and the bank is closed. Bank type inferred as a state bank from context and naming.

Events (1)

1. January 12, 1914 Suspension

Cause: Government Action
Cause Details: Closed by State Banking Commissioner John M. Davis; examiner took over after gradual withdrawals left bank with insufficient funds to withstand a run.
Newspaper Excerpt: The Merchants' and Mechanics' Bank of Argenta was closed this morning by State Banking Commissioner John M. Davis. Davis said he took this action because the depositors have been gradually withdrawing their funds... his examiners have been working on the bank's books for two days and that he is satisfied that it will be able to pay
Source: newspapers

Newspaper Articles (1)

1. January 13, 1914 The Sentinel=record Hot Springs, AR

Article from The Sentinel=record, January 13, 1914

Click image to open full size in new tab

Article Text

ARGENTA BANK CLOSED. Bank Examiner Takes Over Affairs of State Bank. Little Rock, Jan. 12.-The Merchants' and Mechanics' Bank of Argenta was closed this morning by State Banking Commissioner John M. Davis. Davis said he took this action becaue the depositors have been gradually withdrawing their funds and have left the bank with Insufficient funds should a run be started on it. He said that his examiners have been working on the bank's books for two days and that he is satisfied that it will be able to pay