351. American National Bank (Fort Smith, AR)

View Charter #3634 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
3634
Charter Number
3634
Start Date
March 25, 1916
Location
Fort Smith, Arkansas (35.386, -94.399)

Metadata

Model
gpt-5-mini
Short Digest
27de91ff

Response Measures

None

Receivership Details

Depositor recovery rate
85.0%
Date receivership started
1916-04-01
Date receivership terminated
1920-09-30
OCC cause of failure
Fraud
Share of assets assessed as good
37.2%
Share of assets assessed as doubtful
47.8%
Share of assets assessed as worthless
15.0%

Description

The American National Bank of Fort Smith suspended on March 25, 1916 due to officer defalcation/embezzlement and bad loans. A receiver was appointed (bank described as defunct) and subsequent receiver actions and criminal proceedings indicate the bank did not reopen and was closed permanently.

Events (7)
1. February 7, 1887 Chartered
Source
historical_nic
2. March 25, 1916 Receivership
Newspaper Excerpt
The American National Bank closed its doors last March under orders from Bank Examiner Logan, who was made temporary receiver. ... Petitions were filed in the federal court by J. M. Logan of St. Louis, as receiver for the defunct American National Bank of Fort Smith, asking the court to grant an order allowing the search of four lock boxes in the bank vaults.
Source
newspapers
3. March 25, 1916 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Defalcation (embezzlement) by officers (~$25,000 or more), large loans to officers and directors, accumulation of nonliquid and doubtful loans.
Newspaper Excerpt
The suspension March 25 of the American National Bank of Fort Smith, Ark., was announced yesterday by the Comptroller of the Currency in a statement which said the failure was precipitated by a defalcation of about $25,000 or more, in which certain officers of the bank are reported to be implicated.
Source
newspapers
4. April 1, 1916 Receivership
Source
historical_nic
5. April 28, 1916 Other
Newspaper Excerpt
Petitions were filed in the federal court by J. M. Logan of St. Louis, as receiver for the defunct American National Bank of Fort Smith, asking the court to grant an order allowing the search of four lock boxes in the bank vaults. The petition alleges two of the boxes contain property of P. A. Ball, former cashier of the bank, and that the others contain property of Andrew S. Dowd, former assistant cashier.
Source
newspapers
6. September 21, 1916 Other
Newspaper Excerpt
P. A. Ball, cashier, and A. S. Dowd, assistant cashier, of the defunct American National Bank of this city, this morning, pleaded guilty to the charge of falsifying their reports to the comptroller of the currency as to the bank's condition. The American National Bank closed its doors last March ... An investigation by the federal jury showed a shortage of $212,000 in the bank's cash.
Source
newspapers
7. January 22, 1917 Other
Newspaper Excerpt
Seventeen cases brought by H. P. Hilliard, as receiver for the American National bank, against parties alleged to be indebted to that institution were started in federal court here today.
Source
newspapers

Newspaper Articles (14)
1. March 29, 1916 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, March 29, 1916

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Article Text

The suspension March 25 of the American National Bank of Fort Smith, Ark., was announced vesterday by the Comptroller of the Currency in a statement which said the failure "was precipitated by a defalcation of about $25,000 or more, in which certain officers of the bank are reported to be implicated." "Other causes of the failure," says the statement, "were large loans to officers and directors, and an accumulation of a large amount of nonliquid and doubtful loans. The bank has been under observation and on the special list for some months past. "The capital anr surplus of the bank are $250,000 and the deposits, as last reported, December 31, were $535,000."

2. March 29, 1916 The Washington Herald Washington, DC
Article from The Washington Herald, March 29, 1916

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Article Text

Arkansas Bank Suspends. The Comptroller of the Currency announced yesterday the suspension of the American National Bank of Fort Smith, Ark. Capital and surplus, $50,000; deposits, at time of December 31 call, $535,000.

3. March 30, 1916 The Richmond Virginian Richmond, VA
Article from The Richmond Virginian, March 30, 1916

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Article Text

ARKANSAS BANK CLOSED. Shortage In Funds Attributed to Officers' Delinquency. Washington, March 29.-The suspension March 25 of the American National Bank, of Fort Smith, Ark., was announced yesterday by the Con ptroller of the Currency in a statement which said the failure "was prec pitated by a defalcation of about $25,000 or more, In which certain officers of the bank are reported to be implicated." "Other causes of the failure." says the statement. "were large loans to officers and directors, and an accumulation of a large amount of nonliquid and doubtful loans. The bank has been under observation and on the spocial list for some months past. "The capital and surplus of the bank are $50,000 and the deposits, as last reported, December 31, were $635,000."

4. April 28, 1916 The Spectator Ozark, AR
Article from The Spectator, April 28, 1916

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Article Text

The convention voted to appropriate $300 to be used as paying witness fees in a suit Thomas H. Shaw, Arkansas mine inspector, has commenced against the Southern Anthracite Coal Mining Company to compel that company to operate its mine at Russellville according to the Arkansas statutes. Judge Paul Little in the Sebastian Circuit Court denied the claims of former Fort Smith liquor men who sought to recover on liquor licenses issued them in 1914 and 1915 and were later declared illegal on that they comwith the liquor the plied which ground had license not laws. amounted to which ly The $70,000, claims represented approximate- that not of the license paid for and claims were in the court and now apused. part county The will disallowed be pealed to the Supreme Court. There is now no doubt that the $12. 000,000 sanitarium proposed for this will be built. This was the emstatement of C. N. from a he city phatic returned conference Roth, who when with is Colonel Onffroy in the East, one of the chief promoters of the American Thermae Company. Officials of will be ter 15 to clear up the than company May here sanitarium, all not titles lato property desired for the which will occupy a site in the heart of the city, Mr. Roth said. Petitions were filed in the federal court by J. M. Logan of St. Louis, as receiver for the defunct American National Bank of Fort Smith, asking the court to grant an order allowing the search of four lock boxes in the bank vaults. The petition alleges two of the boxes contain property of P. A. Ball, former cashier of the bank, and that the others contain property of Andrew S. Dowd, former assistant cashier. Recently Dr. R. M. Gow, state veterinarian, said that Arkansas can produce cattle that are just as good as any in the world if the farmers of the state will get rid of the cattle tick. He cited the cases of Fred Gibson of and G. H. Stuttgart recently Hitt of Clay sold county, both of whom cattle on the St. Louis market for top prices. The explosion of a gasoline tank automobile tire vulcanizing machine in the garage started a on lass an & Sons of Conway, of T. R. Doug. blaze that caused a loss estimated at $20,000. with insurance of $11,050. The Conway Volunteer Fire Department prevented a spread of the flames, which threatened an entire block. Sheriff Baker has declared that "cider drunks" are becoming too numerous on the Texas side of Texarkana. He fears there is an unlawful amount of alcohol in the cider. Re. tailing ciaer was outlawed on the Arkansas side a year ago by order of Chief 01 Police John Strange. Rev. M. M. Smith, pastor of the church of Baptist The Siloam Spring. is raising $4,000 to remodel and enlarge its church. Three thousand dollars has been subscribed. The Anthony sawmill. about four miles northwest of Thornton, burned The loss was total. Approximately 40,000 acres of land in Logan and Johnson counties have been leased by Frank Ingles, formerly of Sapulpa, Okla., now of Fort Smith. He is now organizing a company to develop the field. Former Congressman S. Brundidge of Searcy, while in Little Rock, turned over to the printer copy of the primary submitted to proposed will be election the bill voters which of Arkansas at the coming November election. Chickasaw Council, Boy Scouts of Memphis, has purchased the V. A. farm one of tract, Mayberry miles west Hardy. and The one-fourth will which contains 206 acres, be used as a camping ground by the scouts. The First Nutional Bank of Stuttgart has closed a deal for a lot on Main street, between Second and Third, and will begin the erection of a new building as soon as the present building can be removed.

5. April 28, 1916 The Spectator Ozark, AR
Article from The Spectator, April 28, 1916

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Article Text

Petitions were filed in the federal court by J. M. Logan of St. Louis, as receiver for the defunct American National Bank of Fort Smith, asking the court to grant an order allowing the search of four lock boxes in the bank vaults. The petition alleges two of the boxes contain property of P. A. Ball, former cashier of the bank, and that the others contain property of Andrew S. Dowd, former assistant cashier.

6. April 28, 1916 The Pulaskian Little Rock, AR
Article from The Pulaskian, April 28, 1916

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the Kansas figures represented 15 wells while the 35,000,000 feet of Arkansas represented only three wells. The present production in the Kibler field in Crawford county, near Van Buren, is nearly 50,000,000 feet daily, as follows: Clear Creek No. 1, 15,000,000 feet; Crowe Oil and Gas Company, 10,000,000 feet, and the Wild Cat Oil and Gas Company, 21,267,000 feet. Next to these big producers is the Massard Prairie field in Sebastian county, which has about 100 wells, the largest of which produces 4,500, 000 feet daily. This field has been producing for the last 12 years. Judge Paul Little in the Sebastian Circuit Court denied the claims of former Fort Smith liquor men who sought to recover on liquor licenses issued them in 13.4 and 1915 and which were later declared illegal on the ground that they had not complied with the liquor license laws. The claims amounted to approximately $70,000, which represented that part of the license paid for and not used. The claims were disallowed in the county court and will now be appealed to the Supreme Court. There is now no doubt that the $12,000,000 sanitarium proposed for this city will be built. This was the emphatic statement of C. N. Roth, when he returned from a conference with Colonel Onffroy in the East, who is one of the chief promoters of the American Thermae Company. Officials of the company will be here not later than May 15 to clear up all titles to property desired for the sanitarium, which will occupy a site in the heart of the city, Mr. Roth said. Petitions were filed in the federal court by J. M. Logan of St. Louis, as receiver for the defunct American National Bank of Fort Smith, asking the court to grant an order allowing the search of four lock boxes in the bank vaults: The petition alleges two OI the boxes contain property of P. A. Ball, former cashier of the bank, and that the others contain property of Andrew S. Dowd, former assistant cashier. The explosion of a gasoline tank on an automobile tire vulcanizing machine in the garage of T. R. Douga lass & Sons of Conway, started blaze that caused a loss estimated at $20,000, with insurance of $11,050. The Conway Volunteer Fire Department prevented a spread of the flames, which threatened an entire block. Eugene V. Rice, postmaster at Whitelow, was arraigned before United States Commissioner A. L. Burnett of on a of priation Pine Bluff postoffice charge funds. of misappro- Postoffice Inspector William O. Kelley of Camden recently visited the office at Whitelow and says the records showed the postmaster to be $850.10 short in his accounts. Scarcely a week passes that some needed improvement is not the Arkansas the made much Blind, at Eighteenth and Center School streets, for LAttle Rock. Two concrete walks were made last week from the front of East and West hall to the sisterns, thus allowing the unbroken lawn and preventing the mud. Sheriff Baker has declared that drunks" are becoming too nuthe Texas fears there is an merous kana. "cider He on side of unlawful Texaramount of alcohol in the cider. Retailing ciaer was outlawed on the Arkansas side a year ago by order of Chief or Police John Strange. The Anthony gawmill, about four miles northwest of Thornton, burned. The loss was total. Approximately 40,000 acres of land in and Johnson been Frank Logan leased by Ingles, of counties Fort formerly Smith. have of Sapulpa, Okla., now He is now organizing a company to develop the field. Former Congressman S. Brundidge while in Little Rock, over to the copy the of turned proposed Searcy, primary election printer bill of which will be submitted to the voters of Arkansas at the coming November election. Chickasaw Council, Boy Scouts of has farm one Memphis, Mayberry purchased and the one-fourth V. A. miles west of Hardy. The tract, which contains 206 acres, will be used as a camping ground by the scouts.

7. April 28, 1916 The Pulaskian Little Rock, AR
Article from The Pulaskian, April 28, 1916

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Article Text

Petitions were filed in the federal court by J. M. Logan of St. Louis, as receiver for the defunct American National Bank of Fort Smith, asking the court to grant an order allowing the search of four lock boxes in the bank vaults. The petition alleges two OI the boxes contain property of P. A. Ball, former cashier of the bank, and that the others contain property of Andrew S. Dowd, former assistant cashier.

8. May 3, 1916 Judsonia Weekly Advance Judsonia, AR
Article from Judsonia Weekly Advance, May 3, 1916

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Article Text

Petitions were filed in the federal court by J. M. Logan of St. Louis, as receiver for the defunct American National Bank of Fort Smith, asking the court to grant an order allowing the search of four lock boxes in the bank vaults. The petition alleges two of the boxes contain property of P. A. Ball, former cashier of the bank, and that the others contain property of Andrew S. Dowd, former assistant cashier.

9. May 4, 1916 The Monticellonian Monticello, AR
Article from The Monticellonian, May 4, 1916

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Article Text

Petitions were filed in the federal court by J. M. Logan of St. Louis, as receiver for the defunct American National Bank of Fort Smith, asking the court to grant an order allowing the search of four lock boxes in the bank vaults. The petition alleges two 01 the boxes contain property of P. A. Ball, former cashier of the bank, and that the others contain property of Andrew S. Dowd, former assistant cashier.

10. May 4, 1916 The Dermott News Dermott, AR
Article from The Dermott News, May 4, 1916

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Article Text

Petitions were filed in the federal court by J. M. Logan of St. Louis, as receiver for the defunct American National Bank of Fort Smith. asking the court to grant an order allowing the search of four lock boxes in the bank vaults. The petition alleges two 01 the boxes contain property of P. A. Ball, former cashier of the bank, and that the others contain property of Andrew S. Dowd. former assistant cashier.

11. May 5, 1916 The Green Forest Tribune Green Forest, AR
Article from The Green Forest Tribune, May 5, 1916

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President, Moorhead wright, vice Albert Rowell, treasurer, Rock; El Dorado; president, executive C. C. council Spraggins, Hope; member group No. 6, Stuart Wilson, Texar kana; group No. 7, John B. Simms, Lake Village. Delegates to Kansas City convention: Perry N. Clark, cashier Farmers' State Bank, Rogers; C. S. McCain, vice president Bankers Trust Company, Little Rock; C. T. Thomp First V. C. Pettie, of Huttig; son, cashier cashier National C. Bank McRae, Bank, Jonesboro, Jonesboro; T. president Bank of Prescott, Prescott. Alternates to Kansas City convention: Allan Winham, Texarkana; J. O. Nichol, Pine Bluff; Art Lewis, Fayetteville; C. G. Henry, Newport; B. C. Powell, Camden. The convention of the Arkansas State Bankers Association completed its work and adjourned. Several interesting papers were read during the forenoon session, and the closing hours were devoted principally to the election of officers and receiving reports of the various committees. A. A. Condray, representing the Little of the read a on Rock tute of Chapter Banking, American paper Insti"The Institute and the Bank Clerk," which was followed by an exceeding ly interesting address on "Warehousing of Cotton," by Nathan Adams, vice president of the American Exchange National Bank of Dallas, Texas. P. W. Goebel, president of the Commercial National Bank of Kansas City, Kan., followed Mr. Adams with a talk on "The Homely Virtues of InJ. dividual and Business Thrift." Howard Ardney, vice president of the Bank of Commerce of New then the "Reciprocal National gates York City, on addressed Bank the Rela- dele- The tions Under the Reserve Act." closing address of the session was delivered by President J. C. Futrall of of as a Factor in the the University University Arkansas. Develop- "The ment of the State" was his subject. Mayor Randolph Hamby of Prescott has been served with summons to answer a complaint filed in the United States District Court at Texarkana by Mrs. Panzy Toland against the city of Prescott, in which Mrs. To land asks judgment for $20,000 for the death of her husband, J. G. Toland, here last March. Toland was a lineman employed by the municipal water and light plant, and while working on the lines March 26, 1915, was electrocuted. The complaint alleges the rule of the city to sound a warning whistle before turning electricity into the lines was not complied with. Judge Paul Little in the Sebastian of Circuit Court denied th KBS claims MEAL former Fort Smith liquor men who sought to recover on liquor licenses issued them in 19.4 and 1915 and which were later declared illegal on the ground that they had not complied with the liquor license laws. The claims amounted to approximately $70,000, which represented that part of the license paid for and not used. The claims were disallowed in the county court and will now be appealed to the Supreme Court. Petitions were filed in the federal court by J. M. Logan of St. Louis, as receiver for the defunct American National Bank of Fort Smith, asking the court to grant an order allowing the search of four lock boxes in the bank vaults. The petition alleges two of the boxes contain property of P. A. Ball, former cashier of the bank, and that the others contain property of Andrew S. Dowd, former assistant cashier. Eugene V. Rice, postmaster at Whitelow, was arraigned before United States Commissioner A. L. Burnett of Pine Bluff on a charge or misappropriation of postoffice funds. Postoffice William O. den Inspector recently visited Kelley the office of showed Cam- at Whitelow and says the records the postmaster to be $850.10 short in his accounts. The contractors for Drainage Dis trict No. 16, near Manila, have their work well under way, and with large dredge boats are making rapid progress toward reclaiming thousands of acres of low land, which, when properly drained, will be the best suited for agricultural purposes than any of the now higher lands. The following advertisement ap peared in the Piggott Banner: LOST -About one hundred and fifty Methodists in and about Piggott. A liberal is offered by the Sunday for their delivery at next at school dist reward Church Sunday morning the Metho9:30 o'clock. The pastor and superin-

12. May 5, 1916 The Green Forest Tribune Green Forest, AR
Article from The Green Forest Tribune, May 5, 1916

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Petitions were filed in the federal court by J. M. Logan of St. Louis, as receiver for the defunct American National Bank of Fort Smith, asking the court to grant an order allowing the search of four lock boxes in the bank vaults. The petition alleges two of the boxes contain property of P. A. Ball, former cashier of the bank, and that the others contain property of Andrew S. Dowd, former assistant cashier.

13. September 28, 1916 The Mena Weekly Star Mena, AR
Article from The Mena Weekly Star, September 28, 1916

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GUILTY PLEA BY 2 BANK OFFICIALS Ball and Dowd Admit Conspiracy Falsifying Their Reports on Fort Smith Bank's Condition-$212.000 Shortage Exists. Fort Smith, Sept. 21.-P. A. Ball, cashier, and A. S. Dowd, assistant cashier, of the defunct American National Bank of this city. this morning, pleaded guilty to the charge of falsifying their reports to the comptroller of the currency as to the bank's conditions. The conspiracy and embezzlement charges against them still are to be heard. The trial of T. W. M. Moore, indicted on similar charges, was continued. The American National Bank closed its doors last March under orders from Bank Examiner Logan, who was made temporary receiver. An investigation by the federal jury showed a shortage of $212,000 in the bank's cash. Boone, Ball, Dowd and Assistant Cashier E. M. Dickenson were jointly indicted on charges of falsification of reports, and conspiracy, and embezzlement of the bank's funds, on separate indictments charging of which, it is asserted, Boone received $110,000; Ball $25,000; Dowd $17,000 and Dickenson $60,000. Dickenson confessed and assisted the federal experts in examining the bank's records. He was indicted yesterday in the state courts on a charge of grand larceny and in accepting $450 for deposit from an aged woman and making no account of it nor giving her any evidence of her deposit. The hearing of the assistant cashier on this charge has been set for October 3. He has not yet been placed on trial in the government case.

14. January 22, 1917 The Waxahachie Daily Light Waxahachie, TX
Article from The Waxahachie Daily Light, January 22, 1917

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SUITS AGAINST BANKERS CALLED AT FORT SMITH FORT SMITH, Ark., Jan. 22.Seventeen cases brought by H. P. Hilliard, as receiver for the American National bank, against parties alleged to be indebted to that institution were started in federal court here today. Suits in equity by Hilliard against three other parties and a suit against the receiver of the Security National bank of Oklahoma City, seeking to secure payment in full of remittances made to the bank for collection, are set for Feb. 7.