344. Spring River Bank (Hardy, AR)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
August 1, 1896*
Location
Hardy, Arkansas (36.316, -91.483)

Metadata

Model
gpt-5-mini
Short Digest
3c561b5b040d3d0d

Response Measures

None

Description

The bank was closed and placed in receivership in early August 1896 due to irregularities/speculation by the cashier; by Sept 11, 1896 it had reorganized and was ready to reopen. Articles mention the assignment was to protect against a run but do not describe an actual depositor run.

Events (4)
1. August 1, 1896* Receivership
Newspaper Excerpt
has since... been placed in the hands of a receiver. Some irregularity on the part of the cashier, involving losses to the bank and its depositors is said to be the cause.
Source
newspapers
2. August 1, 1896* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Irregularity/speculation by the cashier (losses to the bank and depositors; wild speculation by Cashier Ewing).
Newspaper Excerpt
Hardy's Bank Fails The Spring River Bank, at Hardy was forced to close its doors one dav last week and has since... been placed in the hands of a receiver. Some irregularity on the part of the cashier, involving losses to the bank and its depositors is said to be the cause.
Source
newspapers
3. September 11, 1896 Other
Newspaper Excerpt
The Spring River bank, at Hardy, reported to have been closed by wild speculation on the part of Cashier Ewing, has reorganized and is again ready for business. ... The assignment was made only for the purpose of protecting itself from a run by depositors.
Source
newspapers
4. September 11, 1896 Reopening
Newspaper Excerpt
has reorganized and is again ready for business. The reports as to its suspension on account of wild speculation have proven to be untrue, as the affairs of the bank have been thoroughly examined by expert bankers and the institution found to be perfectly solvent and books correctly kept.
Source
newspapers

Newspaper Articles (2)
1. August 7, 1896 Sharp County Record Ash Flat, Cave City, Evening Shade, AR
Article from Sharp County Record, August 7, 1896

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Article Text

Hardy's Bank Fails The Spring River Bank, at Hardy was forced to close its doors one dav last week and has since, we understand. Cheen placed in the hands of a receiver Some irregularity on the part of the cashier, involving losses to the bank and its depositors is said to be the cause. Mr. P, II Wilkerson. of this place now has charge of the institution and it 18 thought will bring its concerns around in good shape SO that the loss toylepositors will be nearly nommal. We sympathize with the busis ness non of our neighbor town and the surrounding country, and es pecially with those who are connect. ed with the bank as directors and depositors. The legitimate business of the institution is shown to have been very successful and satisfactory we learn. We hope its doors may soon open and that the bank, a real necessity to the be iness men of the thriving Capital of our Northern District, may yet prove as success. ful as other business venture at the point,

2. September 11, 1896 The Forrest City Times Forrest City, AR
Article from The Forrest City Times, September 11, 1896

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Article Text

Spring River Bank. The Spring River bank, at Hardy, reported to have been closed by wild speculation on the part of Cashier Ewing, has reorganized and is again ready for business. The reports as to its suspension on account of wild speculation have proven to be untrue, as the affairs of the bank have been thoroughly examined by expert bankers and the institution found to be perfectly solvent and books correctly kept. The assignment was made only for the purpose of protecting itself from a run by depositors. The new organization consists of J. C. Hersper, president; J. W. Cope, vice-president; D. P. Ewing, cashier; Al Donaldson, assistant cashier.