c1ee9592Public signal of financial health, Capital injected, Partial suspension, Books examined
Other: Funds flown in by airplane from Shreveport; large depositors agreed not to withdraw.
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RUSH AIRPLANE TO SAVE A BANK Carries All Money Needed to Pay Depositors in El Dorado, Ark., Institution. EL DORADO, Ark., Feb. 18.-An airplane laden with sufficient money to pay all depositors of the Guaranty Bank and Trust Company of E1 Dorado, is expected to arrive here to-day from Shreveport, La. The plane was despatched following a run on the bank due to a false report that It was insolvent.
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ELDORADO, Ark., Feb. 18.-The Guarantyl Bank and Trust company did not open for business today following a run yesterday said to have been started by an "unwarranted rumor." The institution probably will reopen shortly. it was said. The bank's capital is $60,000 and it recently was voted to increase this amount to $100,000. Deposits are approximately $150,000, it was said.
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BANK CLOSES AFTER RUN. EL DORADO, Ark., Feb. 18.-The Guaranty Bank and Trust Company did not open for business to-day following a run yesterday. said to have been started by an "unwarranted rumor." The institution probably will reopen shortly, it was said. The bank's capital is $60,000 and it recently was voted to increase that amount to $100,000. Its deposits are approximately $450,000 it is said.
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FUNDS OBTAINED BY AIRPLANE FAIL TO OVERCOME RUN ON BANK By the Associated Press. $100,000. Deposits at the time of ELDORADO, Ark., February 18. closing were estimated by officials at $450,000. -A sensational airplane trip to Assistant Cashier Redfern stated Shreveport to obtain funds for the bank had an alternative of attempting to weather the run or to the Guaranty Bank and Trust Comtake advantage of the five days of pany of Eldorado failed to stop a suspension permitted by the state, run on that institution and today and the latter course was adopted. He added that the assistant state bank the bank did not open its doors commissioner, F. Lee Majors, was for business. satisfied the bank was solvent. The run was precipitated by an The airplane flight was made by Mr. Redfern and Jimmie Cox, an unwarranted rumor, officials deoil man and stockholder of the clared, as the bank is solvent. The bank, and upon their return it was bank was organized in 1921. and believed the funds secured would prevent the suspension of business. recently increased its capital to
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By the Associated Press. ELDORADO, Ark., February 18. -A sensational airplane trip to Shreveport to obtain funds for the Guaranty Bank and Trust Company of Eldorado failed to stop a run on that institution and today the bank did not open its doors for business. The run was precipitated by an unwarranted rumor, officials declared, as the bank is solvent. The bank was organized in 1921. and recently increased its capital to
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RUMOR STARTS RUN. Eldorado, Ark., Feb. 18.-The Guaranty Bank and Trust company did not open for business followinga run yesterday said to have been started by an "unwarranted rumor." The institution probably will reopen shortly, it was said.
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year 1921. Merchant marine of Holland in 1921 comprised 720 steamships and motorships, with a total gross tonnage of 2,230,000, as compared with 644 ships of 1,854,000 tons in 1920. German ships have been the most numerous in the harbor of Petrograd since it has been reopened to shipping. Between that date and Jan. 1, 132 German, 48 British, 24 Danish and 20 Norwegian vessels arrived at Petrograd. London bar gold declined 3d to 95s 4d an ounce. A receiver for the Temptor Corn & Fruit Products Co. to operate it as a going concern on application of its creditors was appointed in the Federal Court in St. Louis. The company agreed to the receivership, but denied that it was insolvent. The Guaranty Bank & Trust Co. of El Dorado, Ark., did not open for business Saturday, following a run Friday, said to have been started by an "unwarranted rumor." The institution probably will reopen shortly, dispatches said. Kansas & Oklahoma Southern Railway was authorized by the Interstate Commerce Commission to construct a new line 61 miles long from Caney, Kan., to Vinita, Okla., and in addition to construct an extension 10 miles northwest of Vinita to the coal mines region. Oil production in the southern fields of Mexico for the week ended Feb. 11 amounted to 3,261,000 barrels. Certain local banks have engaged for shipment to India an aggregate of about $800,000 in gold bars. which follows last week's shipment of about $3,000,000 from London to Bombay. The Central Leather Co.'s 1921 report discloses a loss from operations amounting to $3,832,732. The New Jersey State League of Municipalities is urging in the legisla-
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PLANE TAKES CASH TO BANK. El Derado Institution Needed Funds to Meet a Run. El Dorado, Ark., Feb. 18.-The Guaranty Bank and Trust Company, which successfully withstood a run lasting all day yesterday received $100,000 by airplane this morning from Shreveport. The plane, driven by Lieut. W. L. Shaffer of the local flying field, made the eighty miles in thirty-six minutes. The run was started on account of a rumor that state bank examiners who were making the semi-annual check of the bank, were here to close it After consulting with the assistant state bank examiner, the bank decided this morning to take advantage of the Arkansas banking law and closed their doors for five days, during which time the bank will reorganize and enough cash secured to pay off all depositors who want their money. The large depositors have all agreed to not withdraw accounts.