Fort Smith National Bank - Fort Smith, AR

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 4995
Charter Number: 4995
Start Date: January 4, 1912
Location: Fort Smith, Arkansas (35.386, -94.399)

Metadata

Model: gpt-5-mini
Short Digest: 747bfa55

Response Measures

None

Description

Article (Pine Bluff Daily Graphic, Jan 4 1912) reports the Fort Smith bank under a receiver (Receiver Dowd) with cashier E. D. Martin jailed and the receiver unable to explain discrepancies. No run is described; the bank is in receivership/closed. Cause assigned as bank-specific adverse information (mismanagement/alleged asset discrepancies and virtually no paid-in capital).

Events (4)

1. May 1, 1895 Chartered

Source: historical_nic

2. December 9, 1897 Voluntary Liquidation

Source: historical_nic

3. January 4, 1912 Receivership

Newspaper Excerpt: Receiver Dowd of the Fort Smith bank ... Receiver Dowd says he has information showing that early in December the Siloam Springs bank had but $40. ... Cashier E. D. Martin of the Fort Smith bank is still in jail none of his associates having as yet come to his aid.
Source: newspapers

4. January 4, 1912 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Alleged accounting discrepancies, virtually no paid-in capital, assets of one bank played against another; cashier jailed for related issues
Newspaper Excerpt: Receiver Dowd of the Fort Smith bank has not yet been able to explain this alleged discrepancy ... only $3,500 of actual cash had been in the local bank. Cashier E. D. Martin of the Fort Smith bank is still in jail
Source: newspapers

Newspaper Articles (1)

1. January 4, 1912 Pine Bluff Daily Graphic Pine Bluff, AR

Article from Pine Bluff Daily Graphic, January 4, 1912

Click image to open full size in new tab

Article Text

of the bank. Receiver Dowd of the Fort Smith bank has not yet been able to explain this alleged discrepancy and said unqualifiedly that be did not think it could be explained. He said that only $3,500 of actual cash had been it in the local bank. Receiver Dowd says he has information showing that early in December the Siloam Springs bank had but $40. He says he is of the opinion that both banks were organized with practically njo paid-in capital and that the alleged assets of one bank were played against those of the other. The officers of the Siloam Springs bank announced today that it did not open because of having no funds, but that money had been received from Kansas City during the day, and that the doors would be opened tomorrow to pay off the remaining deposits, which amount to less than $5,000. Cashier E. D. Martin of the, Fort Smith bank is still in jail none of his associates having as yet come TO his aid.