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.
312. Farmers National Bank (Clarksville, AR)
Bank Information
- Episode Type
- Run → Suspension → Reopening
- Bank Type
- national
- Bank ID
- 11580
- Charter Number
- 11580
- Start Date
- October 3, 1930
- Location
- Clarksville, Arkansas (35.471, -93.467)
Metadata
- Model
- gpt-5-mini
- Short Digest
cd3ab646
Response Measures
Capital injected, Full suspension
Description
Newspapers report a run that began Oct 3, 1930 leading to the bank's suspension/closure that day; the bank reorganized with outside aid and reopened mid-October 1930 (reported Oct 25 newspaper says it reopened 'Saturday of last week'). Cause appears linked to failures of other banks locally ('failure of two...others closed') so classified as local_banks.
Events (4)
1.
January 17, 1920
Chartered
- Source
- historical_nic
2.
October 3, 1930
Run
- Cause
- Local Banks
- Cause Details
- Run began after failure/closure of two other banks; panic spread leading to heavy withdrawals beginning night of Oct 2–3.
- Measures
- Bank attempted reorganization; later accepted outside interests and temporary management from Union Trust Co.
- Newspaper Excerpt
- BANK CLOSES FOLLOWING RUN CLARKSVILLE, Ark., Oct. Farmers National Bank... after the failure of two open others closed today run that began last night.
- Source
- newspapers
3.
October 3, 1930
Suspension
- Cause
- Local Banks
- Cause Details
- Suspension triggered by the run that followed failures/closures of other banks.
- Newspaper Excerpt
- The bank, which suspended Oct. 3, in the face of a run...
- Source
- newspapers
4.
October 18, 1930
Reopening
- Newspaper Excerpt
- 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... 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 Rock.
- 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.