370. Arkansas National Bank (Hot Springs, AR)

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
2832
Charter Number
2832
Start Date
May 27, 1884
Location
Hot Springs, Arkansas (34.504, -93.055)

Metadata

Model
gpt-5-mini
Short Digest
894ec5d9391282f3

Response Measures

None

Description

Multiple contemporaneous newspaper reports (May 27โ€“28, 1884) state a run commenced on the Arkansas National Bank of Hot Springs following a panic triggered by the run/closure of the Hot Springs National Bank after its president's reported absence. Reports indicate the Arkansas National was understood to be in good condition and did not close; by May 28 ordinary business withdrawals only. Classified as run_only (no suspension or closure of Arkansas National reported).

Events (2)

1. December 5, 1882 Chartered
Source
historical_nic
2. May 27, 1884 Run
Cause
Local Banks
Cause Details
Panic contagion from the run and closure of the Hot Springs National Bank (president reported absent and accused of falsifying accounts) led depositors to withdraw from Arkansas National.
Newspaper Excerpt
A run has commenced on the Arkansas National bank, which is understood to be in good condition.
Source
newspapers

Newspaper Articles (10)

Article from The Portland Daily Press, May 28, 1884

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Article Text

FINANCIAL. More About the Grant Failure. Individual Assignments of the Grant Brothers. NEW YORK, May 27.-Individual schedules in the assignments of Frederick D. Grant and Jesse R. Grant to James McNamer were filed to-day. The schedules of Frederick D. Grant show the following statement. The debts and liabilities amount to $2,215,066 made up as follows: Creditors other than preferred, $820,000; preferred, $243,966; contingent liabilities, $10,000; par value of securities borrowed from Grant & Ward, $1,140,800; assets nominally worth $1,990,013; actually unknown. Schedules in the assignment of Jesse R. Grant show debts and liabilities to the amount to $95,429 and assets nominally worth $131,950; assets actually worth unknown. Jesse Grant makes an affidavit as to the cause of the difference between the nominal and actual value of the assets and says he is unable to state the actual value of the assets and monies because Grant & Ward's property is in the hands of an assignee and receiver and no schedules have been made showing the assets of the firm. United States District Attorney Root lodged a warrant for the arrest of Ferdinand Ward at the Ludlow street jail to-night on complaint of Bank Examiner Scriba who charges that Ward aided and abetted President James D. Fish in misappropriating the funds of the Marine Bank. Donnell, Lawson & Simpson, the brokers who failed in the recent panic, will probably soon resume as most of their creditors have accepted a proposition made by the firm and the assets are being rapidly converted into available funds by the assignee. The Metropolitan Bank. A meeting of the Metropolitan bank directors was held this morning. The president stated that the deposits had diminished about $9,000,000 since the suspension, but show no further diminution this week. George J. Seney to-day in consideration of $350,000 transferred to the Metropolitan national bank 137 paintings in his residence, No. 4 Montague Terrace, Brooklyn. Run Upon an Arkansas Bank. HOT SPRINGS, May 27.-The Hot Springs national bank closed its doors to-day owing to a run on the bank caused by the reported absence of President Andrew Bruon. The liabilities are $40,000. A run has commenced on the Arkansas national bank of Hot Springs which is understood to be in good condition. There is great excitement. The Peun Bank's Affairs. PITTSBURG, Pa., May 27.-The directors of the Penn bank have been making an examination of its accounts to-day and find one with D. Wilson & Co., which shows over checking to an extent of $240,000. No such firm is known in this city aud it is supposed to represent accounts of a number of persons lately operating on the wrong side of the oil market and who have been ailowed to draw to the extent named. The account of a prominent oil dealer was found to be overdrawn $97,000. These two accounts represent $7,000 in excess of the entire capital and surplus of the bank. Cause of Suspension of Strong's Bank. GREENBAY, Wis., May 27.-The cause of the suspension of Strong's bank here yesterday is stated in the following note left by president Henry Strong who departed for the Eas Saturday night "owing to the failure of several banks in this vicinity last winter, and the general demoralization of financial matters lately and also owing to some villainous reports circulated about our own bank, our deposits have greatly decreased 80 that in the last three or four months we have had to pay out over $100,000. Feeling that we cannot convert the assets rapidly enough to meet the demand for money we deemed it best in justice to all to close the bank and wind up its affairs." The belief exists generally that depositors will not meet with much loss. The directors find that the assets amount to about $350,005, and liabilities to $340,000.


Article from The Democratic Leader, May 28, 1884

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Article Text

A Rumor Causes a Run. HOT SPRINGS, Ark., May 27.-The Hot Springs National bank closed its doors to-day owing to a run on the bank caused by the reported absence of President Andrew Brown. The liabilities are $40,000. A run has also commenced on the Arkansas National bank, which is understood to be in good condition. There is great excitement.


Article from St. Paul Daily Globe, May 28, 1884

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Article Text

THE HOT SPRINGS NATIONAL. HOT SPRINGS, May 27.-The Hot Springs National bank has closed its doors owing to a run on the bank caused by the reported absence of President Andrew Bruon. The liabilities are $40,000. A run was commenced on the Arkansas National bank, which, it is understoon, is in good condition. There is great excitement. This afternoon a warrant was issued in Hot Springs for President Bruon's arrest, charged with falsifying the bank accounts, but he could not be found. One of the directors telegraphed that the bank assets properly handled will pay all depositors without an assessment, but leave the stockholders nothing. The Arkansas Valley bank is all right. It has been learned that Bruon arrived at Little Rock on Friday, but was not seen until to-day, when he bade good bye to a woman named Steel, who went north on the afternoon train. Bruon is married, but the Hot Springs Gazette says, it is discovered he became infatuated with the woman and abandoned his wife for her.


Article from The Semi-Weekly Miner, May 28, 1884

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Article Text

Runs on Banks. HOT SPRINGS, May 27.-The Hot Springs National bank closed its doors, owing to a run on the bank caused by the reported absence of President Andrew Bruon; liabilities, $40,000. A run has commenced on the Arkansas National bank, Hot Springs, which is understood to be in good condition. Great excitement prevails.


Article from Alexandria Gazette, May 28, 1884

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Article Text

ANOTHER BANKER MISSING.-The Hot Springs National Bank, at Hot Springs, Ark., closed its doors yesterday, owing to a run on the bank, caused by the reported absence of its president, Andrew Bruon. Its liabilities are $40,000. A run was commenced on the Arkansas National Bank of Hot Springs, which is understood to be in a good condition. A warrant was issued for the arrest of President Bruon on a charge of having falsified the bank's accounts, but he could not be found. It has been learned that Bruon arrived in Little Rock on Friday last, but was not seen by his acquaintances until yesterday, when he bade good-bye to a woman named Steel, who went north on the afternoon train. Bruon is a married man, and the Hot Springs Gazette says it has been discovered that he became infatuated with the woman mentioned, and abandoned his wife for her.


Article from The Rock Island Argus, May 28, 1884

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Article Text

Bank Failure at Hot Springs. LITTLE ROCK, Ark., May 28.-A Hot Springs special says the Hot Springs National bank closed its doors, owing to a run on the bank caused by the reported absence of President Andrew Brown with a balance to his debit of $40,000. The run commenced on the Arkansas National bank, of Hot Springs, which, it is understood, is in good condition. There is great excitement at Hot Springs.


Article from The Dallas Daily Herald, May 28, 1884

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Article Text

A Panic at Hot Springs. LITTLE Rock, Ark., May 27.-The Demo crat's Hot Springs special says; The Hot Springs National bank closed its doors owing to a run on the bank, caused by the reported absence of President Andrew Bruen. Liabilities, $40,000. A run has commeneed on the Arkansas National bank, of Hot Springs, which it is understood isin good condition. There is great excitement st Hot Springs. LITTLE Rook, May 27.-This afternoon a worrant was issued in Hot Springs for President Bruon's arrest. He is charged with falsifying the bank's accounts, but be could not be found. 0.0 of the directors telegraphs that


Article from Memphis Daily Appeal, May 29, 1884

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Article Text

New Clarendon Hotel, Enlarged. A. J. KERR, PROP'R L. D HUNT, M'GR. RATES-$2 and $2 50 per day. D B Adams, Ky J W Maeon, Term H Crittenden, Ark T Townsend. city C M Francis, La Z T White, Miss W H Raynor. Miss S H Lytton, Ky K F Bailey, Mo A A Knox, Tenn G Drake, Md W P Turbiville, Mies Miss Wright, Ark W A Spratlin, Miss M Henderson, Ky P C Cole, III W M Graham, Ala J M Biggers, N Y M Anderson, Ala J R Cank &w, Tex W H Revis, Ark Miss A Wood, Tenn W H Fisher, La I E H Ayres, Tenn M N Miller, Ala J R Taner, Ark W H Robinson, Ark M Pointer, Miss -Jale Miss JH Egan, La G W Kagsuma, Meara. Ark M is T H McClung, Ala T T Scudder, III W R Haney, Miss SS Young, river. R Cheatham, Ark The Financial Situation at Hot Springs. Hor SPRINGS, May 28.-The financial storm yesterday was followed by a clear sky. There was no run on the Arkansas National Bank to-day, and no money was drawn out except for ordinary business purposes. Many people have confidence in some of the directors of the suspended Hot Springs National Bank, and think they will make the shortage good.


Article from The Emporia Weekly News, May 29, 1884

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It Has Reached Hot Springs. LITTLE Rock, May 27.-The Democrat's Hot Springs special says: The Hot Springs National bank closed its doors owing to a run on the bank caused by the reported absence of President Andrew Bruon. Liabilities, $40,000. A run commenced on the Arkansas National bank at Hot Springs, which 18 understood to be in good condition. Great excl'ement at Hot Springs.


Article from Weekly Phoenix Herald, May 29, 1884

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Article Text

FIRST MESSAGE. ROCKPORT. Mass., May 28-The first message by the commercial cable was received at Rockport yesterday afternoon. AN ARKANSAS BANK CLOSED. HOT SPRINGS, Ark., May 28-The Hot Springs National Bank closed its doors yesterday, owing to a run on the reported absence of the President, Andrew Brown. Liabilities, $40,000. A run has commenced on the Arkansas National Bank, at Hot Springs, which is understood to be in good condition. Great excitement.. WILL RESUME. NEW YORK, May 27.-The West Side bank claims that it will shortly resume. Nothing is known of the whereabouts of the defaulting teller, Hinckley,