340. Bank of Everton (Everton, AR)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
September 9, 1913
Location
Everton, Arkansas (36.155, -92.907)

Metadata

Model
gpt-5-mini
Short Digest
9b0e7a93

Response Measures

None

Description

The bank suspended on Sept. 9, 1913 after the cashier's arrest and discovery of a large shortage/forged instruments. A receiver application was filed later in September and a receiver (Ben Rowland) is referenced in January 1914; there is no evidence the bank reopened. Cause is bank-specific adverse information (forgery/embezzlement/shortage).

Events (3)

1. September 9, 1913 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Cashier M. L. Korff arrested after issuing a $4,000 cashier's check paid with a worthless/possibly bogus draft; bank found to have a shortage and books under investigation.
Newspaper Excerpt
suspended today following the arrest yesterday of M. L. Korff, the cashier.
Source
newspapers
2. September 26, 1913 Other
Newspaper Excerpt
J. Loyd Shouse, representing Hamilton & Sons, has filed application for a receiver for the bank. Bank shortage is now estimated at $21,000, which includes $10,000 worth of forged bank stock. (Green Forest Tribune, 1913-09-26).
Source
newspapers
3. January 2, 1914 Receivership
Newspaper Excerpt
Receiver Ben Rowland, of the Bank of Everton, has withdrawn the charge of forgery made by the bank officials some time ago against R. L. Workman, in connection with the Bank's failure.
Source
newspapers

Newspaper Articles (4)

Article from The Mena Weekly Star, September 11, 1913

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Article Text

BANK CLOSED; THE CASHIER IS IN JAIL Books of Bank of Everton, in Boone County, Are Being Investigated by an Expert AccountantWho Is E. Harris? Harrison, Ark., Sept. 9.-The Bank of Everton, located in the extreme southeastern part of this county, suspended today following the arrest yesterday of M. L. Korff, the cashier. Korff is in jail at Harrison on default of bond. The bank's books are being investigated by an expert accountant. Recently the Newton County Bank has notified the officers of the Bank of Everton to give a statement of the cashier's check of $4,000 drawn a few days ago in favor of E. Harris and the worthless and perhaps bogus draft with which Harris paid for it. It is alleged that E. Harris came into the bank a few days ago, was allowed to fill out a cashier's check for $4,000, and paid for it with a draft. He sent the cashier's check for deposit to the Newton County Bank, which refused to accept it and returned it to the Bank of Everton, asking that an exchange draft be given in its stead. By this time the Bank of Everton had found that the draft which E. Harris had paid for the cashier's check was worthless and perhaps bogus.


Article from The Green Forest Tribune, September 26, 1913

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Article Text

Bank Shortage $21,000. Everton.-W. T. Cantrell, vice president of the Bank of Everton, announced that the shortage of the bank is now estimated at $21,000, which includes $10,000 worth of forged bank stock. J. Loyd Shouse, representing Hamilton & Sons, has filed application for a receiver for the bank.


Article from Judsonia Weekly Advance, October 29, 1913

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Article Text

Arkansas Briefs H. G. aged 78, committed suicide poison at by Haynes, taking his home, three miles from Van Buren. He had been because of despondent ill been health the and this is supposed to have cause of his act. . O A waterworks system, on which work has been in progress for three years, has been completed in Conway and turned over to the city. The plant has cost $60,000, water being obtained from Cadron creek, six miles from the city. D B . James Smith, the 17-months-old son of W. J. Smith of Pine Bluff, was burned to death when his clothing caught fire from a stove while members of the family were out of the house. . . . Senator James P. Clarke has agreed to introduce a bill in congress appropriating $100,000 for the work necessary to be done to prevent the river from near Braden, teau Arkansas river joining Okla. the The Po. of the two streams would inSmith's water jure joining Fort supply and inflict heavy damage upon property. . . . J. W. Gaunt, roadmaster of the Cot. ton Belt railroad, was seriously injured when he was struck by a fast freight train at Sorrells. . . . Dr. Chas. S. Holt of Fort Smith was elected president of the Arkansas Association of St. Louis, Iron Mountain & Southern Railway Company convention Surgeons, at the second annual held in Little Rock. Dr. John S. East;ad of Judsonia was elected vice president and Dr. W. F. smith of Lit tle Rock secretary. . (>) John Hoover, 3-year-old son of T.L. Hoover of Argenta, died from burns which he received when his clothing was ignited from a burning trash pile. . . . As a result of the work done by the Northeast Arkansas Tick Eradication Commission, a part of the counties of Baxter, Jackson and Sharp will be released from quarantine regulations on November 1 and modified regulations will be enforced in portions of Izard. Independence and Sharp counties. / . . c The Phillips county quorum court refused to vote an appropriation for the salary of a county farm demonstrator. The appropriation had been made annually for several years. . . D A skeleton, believed to be that of someone drowned during the floods of last spring, was found under a railroad trestle near Heth. . . is Judge Hon in the Sebastian county circuit court, refused to allow a claim of $5,280 filed by J. T. W. Jennings, an architect, for drawing plans for a new Sebastian county court house. County Judge Jesse L. Harp ordered the plans drawn but when Ezra Heser became county judge he revoked all former proceedings and the court house was not built. (4) . . The Bank of Everton has been orat Everton with a capital of It is independent, it ganized $10,000. which is stated. is in of the old Bank of Everton, the hands of a receiver. . . The quorum court of Quachita counappropriated $900 for agricultural ty extension work, six hundred dollars to aid the farm demonstration work and three hundred dollars for the Girls' Canning Clubs. a . Mrs. Jasper Garrett, aged 80, of Ozark, was found dead in bed after retiring the previous evening apparently in good health. S . . The Hot Spring county querum court made appropriation of $200 the Rockefeller an commission to assist hookworm in In its investigation of conditions that county. . . . The annual report of the county treasurer shows that the Fort Smith district of Sebastian county spent $30 000 in the building of good roads during the past year. . . . Work has been begun on a new deto be built by the Iron Mountain the pot railroad at Yellville to replace one burned several months ago. 6 . O A heavy frost killed the pea crop to the vicinity of Delight, according In the reports from the surrounding country. . . Jonesboro Peanut Hulling Comthe only concern of the in and one of the in Arkansas pany, The largest kind the South, has purchased its first consignment of peanuts of the 1913 crop. An unusually large crop is reported in Craighead and adjoining counties this season. . a . The Ladies' Civic Club of Pocahentas, under whose auspices all the citizens of the town spent two days last spring in a clean-up campaign, is


Article from The Springdale News, January 2, 1914

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Article Text

BOONE. It is expected that the postoffice at Harrison will advance to the second class on April 1. The Harrison Times reports the following marriages: G. R. Lawson and Miss Nellie Byerly, both of Alpena; Gus Toney and Miss Ruby Baker; James V. Blair and Miss Dona Jones. Receiver Ben Rowland, of the Bank of Everton, has withdrawn the charge of forgery made by the bank officials some time ago against R. L. Workman, in connection with the Bank's failure.Harrison Times.