Article Text
BANK CLOSES FOLLOWING RUN CLARKSVILLE, Ark., Oct. Farmers National Bank. financial institution here after the failure of two open others closed today run that began last night. Morgan, president the bank would reorganized.
291. Farmers National Bank (Clarksville, AR)
Bank Information
- Episode Type
- Run → Suspension → Reopening
- Bank Type
- national
- Bank ID
- 11580
- Charter Number
- 11580
- Start Date
- October 2, 1930
- Location
- Clarksville, Arkansas (35.471, -93.467)
Metadata
- Model
- gpt-5-mini
- Short Digest
d6ec603ffe8b4391
Response Measures
Capital injected, Full suspension
Description
Articles report a run beginning the night before Oct 3, 1930, leading the Farmers National Bank of Clarksville to suspend Oct 3. The bank reorganized with outside support and reopened by Oct 25, 1930. Cause appears to be contagion from failures/closures of other local financial institutions. OCR errors in Article 1 (truncated sentences) were corrected for clarity.
Events (4)
1.
January 17, 1920
Chartered
- Source
- historical_nic
2.
October 2, 1930
Run
- Cause
- Local Banks
- Cause Details
- Run followed failure/closures of two other local financial institutions, triggering withdrawals at Farmers National Bank.
- Measures
- Bank suspended operations the following day (invoked suspension after heavy withdrawals).
- Newspaper Excerpt
- BANK CLOSES FOLLOWING RUN ... run that began last night.
- Source
- newspapers
3.
October 3, 1930
Suspension
- Cause
- Local Banks
- Cause Details
- Suspension on Oct 3 was a direct response to the run precipitated by failures/closures of other banks.
- Newspaper Excerpt
- The bank, which suspended Oct. 3, in the face of a run, was able to work out a reorganization...
- Source
- newspapers
4.
October 25, 1930
Reopening
- Newspaper Excerpt
- The Farmers National bank of Clarksville reopened for business Saturday of last week with G. S. Jernigan ... in charge temporarily. ... It was reopened with a capital stock of $60,000 and a surplus and reserve of $35,000.
- Source
- newspapers
Newspaper Articles (2)
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Article Text
Twelve hundred shopmen of the Frisco system last week returned to work at the Springfield, Mo, shops Saturday after being laid off since Sept. 22. Officials of the railroad said they believed the men would have steady work the balance of the year. The Farmers National bank of Clarksville reopened for business Saturday of last week with G. S. Jernigan, vice president of the Union Trust company in Little in charge temporarily. An active executive probably will he named later. The bank, which suspended Oct. 3, in the face of a run, was able to work out a reorganization, strengthened by outside interests from Ft. Smith and Little Reck. It was reopened with a capital stock of $60,000 and a surplus and reserve of $35,000.