289. Saline County Bank (Benton, AR)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
September 3, 1908
Location
Benton, Arkansas (34.565, -92.587)

Metadata

Model
gpt-5-mini
Short Digest
a61ef67e

Response Measures

None

Description

Multiple contemporaneous newspaper reports (early September 1908) state the Saline County Bank at Benton went into the hands of a receiver at request of the bank's attorney and cashier. Reports specify the bank is solvent and that affairs are being wound up after the death of the primary owner, indicating a voluntary winding-up/receivership rather than a depositor run. Receiver M. F. Scott was appointed and bond made for $75,000. I corrected an OCR variant of the cashier name (Stille/Steele) but used the bank name as given. Date drawn from article stating 'Benton, Sept. 3.'

Events (1)
1. September 3, 1908 Receivership
Newspaper Excerpt
The Saline County Bank, at the request of W. R. Dunham, attorney for the institution, and John Steele, cashier, today went into the hands of a receiver. M. F. Scott was appointed receiver and made bond for $75,000. The bank is entirely solvent and the procedure was taken to close up its affairs. It was practically owned by the late John L. Hughes and since his death it has been decided to wind up its affairs. Every depositor will be paid in full.
Source
newspapers

Newspaper Articles (5)
1. September 10, 1908 The Monticellonian Monticello, AR
Article from The Monticellonian, September 10, 1908

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Article Text

Bank in Receiver's Hands. The Saline County Bank at Benton, at the request of W. R. Dunham, attorney for the institution, and John Steele, cashier, Thursday went into the hands of a receiver. M. F. Scott was appointed receiver and made bond for $75,000. The bank is entirely solvent and the procedure was taken to close up its affairs. It was practically owned by the late John L. Hughes and since his death it has been decided to wind up its affairs. Every depositor will be paid in full.

2. September 10, 1908 The Log Cabin Democrat Conway, AR
Article from The Log Cabin Democrat, September 10, 1908

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Article Text

Bank in Receiver's Hands. The Saline County Bank at Benton, at the request of W. R. Dunham. atterney for the institution, and John Steele, cashier, Thursday went into the hands of a receiver. M. F. Scott was appointed receiver and made bond for $75,000. The bank is entirely solvent and the procedure was taken to close up its affairs. It was practically owned by the late John L. Hughes and since his death it has been decided to wind up its affairs, Every depositor will be paid in full.

3. September 10, 1908 The Mena Weekly Star Mena, AR
Article from The Mena Weekly Star, September 10, 1908

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Article Text

BANK IN RECEIVER'S HANDS. Affairs of Saline County Bank Will Be Wound Up-Institution Solvent. Benton, Sept. 3.-The Saline County Bank, at the request of W. R. Dunham, attorney for the institution, and John Stille, cashier, today went into the hands of a receiver. M. F. Scott was appointed receiver and made bond for $75,000. The bank is entirely solvent and the procedure was taken to close up its affairs. Tt was practically owned by the late John L. Hughes and since his death it has been decided to wind up its affairs. Every depositor will be paid in full.

4. September 10, 1908 The Nevada County Picayune Prescott, AR
Article from The Nevada County Picayune, September 10, 1908

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Article Text

Bank in Receiver's Hands. The Saline County Bank at Benton, at the request of W. R. Dunham, attorney for the institution, and John Steele, cashier, Thursday went into the hands of a receiver. M. F. Scott was appointed receiver and made bond for $75,000. The bank is entire. ly solvent and the procedure was taken to close up its affairs. It was practically owned by the late John L. Hughes and since his death it has been decided to wind up its affairs. Every depositor will he paid in full

5. September 11, 1908 The Green Forest Tribune Green Forest, AR
Article from The Green Forest Tribune, September 11, 1908

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Article Text

Bank in Receiver's Hands. The Saline County Bank at Benton, at the request of W. R. Dunham, atterney for the institution, and John Steele, cashier, Thursday went into the hands of a receiver. M. F. Scott was appointed receiver and made bond for $75,000. The bank is entirely solvent and the procedure was taken to close up its affairs. It was practically owned by the late John L. Hughes and since his death it has been decided to wind up its affairs. Every depositor will be paid in full.