288. Peoples Bank (Benton, AR)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
January 28, 1908
Location
Benton, Arkansas (34.565, -92.587)

Metadata

Model
gpt-5-mini
Short Digest
a357f0be

Response Measures

None

Description

Peoples Bank of Benton was placed in the hands of a receiver on 1908-01-28 and then resumed business by mid-February 1908 after a chancery decision cleared the bank. The reported immediate trigger was the withdrawal of deposits by J. K. Bell & Co. There is no clear description of a depositor 'run' (crowds or mass withdrawals) in the texts — the sequence is a suspension/receivership followed by reopening.

Events (3)

1. January 28, 1908 Receivership
Newspaper Excerpt
which was placed in the hands of a receiver January 28, 1908, upon the application of J. W. Westbrook, has resumed business (later report).
Source
newspapers
2. January 28, 1908 Suspension
Cause Details
Placed into receivership after large withdrawal of deposits by J. K. Bell & Co.; bank closed its doors as ordered by the president (reported earlier).
Newspaper Excerpt
the Peoples' bank of Benton, which was placed in the hands of a receiver January 28, 1908, upon the application of J. W. Westbrook
Source
newspapers
3. February 13, 1908 Reopening
Newspaper Excerpt
has resumed business. A decision, rendered Monday by Chancellor Curl in vacation, places the bank absolutely above suspicion, the chancellor declaring the assets to be amply in excess of the liabilities.
Source
newspapers

Newspaper Articles (3)

Article from The Log Cabin Democrat, February 6, 1908

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Article Text

DeQueen will be as in the The program to Conduct Reading Mrs. Dickerin the Prison; "Language Mrs. Intermediate "How Grades," Work Lambright; mary Hope for from the an a Place for to Mr. Recitation." Miss "How History Recitation." to Make "What Normal," Dickerson; Hamilton; Grades," We Senator Untrained "How Wingo; Falls. Conduct chapter Teacher," Penny; "The New His- en- 4, Mr. tory Interesting," of Heber Miss held an "Hamilton's The citizens recenttly and orthusiastic club for a the town's it of eventually converting man in Every ganized pose est and advancing meeting 10,000 business the inter- pur- into the a attended the in favor of better for the town club roads, town city. is improvement and of meeting. better streets, county lights, more The hotels and a sewer Lawson waterworks The Union County Wednesday. system. Farmers' Union met at was elected special W. and F. M. Russell was lecturer to represent the meetW. pointed Johnston union county apunion February at the district 7. The district is ing of Quachita,, composed and Columbia counties a of Nevada Union part county. young Calhoun, man and Richardson, a from of Paragould, a fall which at the That time of small to effects James of died importance. Sunday climb the while attempting he fell and his of into a wagon, of one side a A few hours later seemed morning, struck part he died. body had the vehicle. was found that his spleen been It ruptured by the fall. bank of Benton order clos- of The Pople's doors Tuesday by This ed its Bell, the president. with J. K. was organized in 1903 and has a bank stock of $50,000 weathercapital prosperous business, and done successfully a the recent panic, its ing its suspension was a surprise to customers and friends. Prof. George A. Cole, who head has for of years been at the of several agricultural department the of Arkansas, has take effect resignattion, to University his resigna- handed the in of February. The will the was accepted and the by Rufus J. be tion filled first cotton Nelson. place gin near Stephens, C. M. Smith's together several with four hundred bales of of cotton seed, was amount bushels cotton and destroy fire recently. The loss insurance. ed ed by to $1,500, with no bank petition in voluntary Federal Dis A was filed in the R. Crow ruptcy Court Thursday by J. He states trict merchant of Chicot. $1, a his liabilities amount to 404 that and his assets to $400. John Lewis, an employe of Com th Lumber and Brick Benton plant at Paragould was injur upon pany's pile of lumber falling being him ed by Monday, a both of his legs broken above the knees. James Pryor's team ran wife awa wer while he and his Hope Friday a load of wood to from th taking Pryor was thrown wa Mrs. wagon and one of her legs broken in two places. Griffin's general store and the post b of Brookland were entered office Monday night and from a quant th burglars of clothing was taken of cas ity store and a small amount from the postoffice. The farmers and truck grower Frui t Austin, have organized a a: Growers Association, and propose carloads their product by the Poston ship They organized with A. president.. Lamb and Ben McCor day last Norton 265 rabbits in three week mick shot in a radius of


Article from The Nevada County Picayune, February 13, 1908

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Article Text

Peoples' Bank of Memphis Reopens. The Peoples' bank of Benton, which was placed in the hands of a receiver January 28, 1908, upon the application of J. W. Westbrook, has resumed business. A decision, rendered Monday by Chancellor Curl in vacation, places the bank absolutely above suspicion, the chancellor declaring the assets to be amply in excess of the liabilities. The withdrawal of deposits by J. K. Bell & Co., was assigned as the prime cause for the difficulty. A complete reorganization of officers and directors and a change of location will be made very soon.


Article from The Huttig News, February 15, 1908

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Article Text

Peoples' Bank of Memphis Reopens. The Peoples' bank of Benton, which was placed in the hands of a receiver January 28, 1908, upon the application of J. W. Westbrook, has resumed business. A decision, rendered Monday by Chancellor Curl in vacation, places the bank absolutely above suspicion, the chancellor declaring the assets to be amply in excess of the liabilities. The withdrawal of deposits by J. K. Bell & Co., was assigned as the prime cause for the difficulty. A complete reorganization of officers and directors and a change of location will be made very soon.