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: 20ca4599

Response Measures

None

Description

Bank closed and a receiver was appointed in early August 1896 because of irregularities by the cashier; by September 1896 the bank had reorganized and reopened. There is mention the assignment was to protect from a run, but no clear contemporaneous run event is described, so classified as a suspension with reopening.

Events (4)

1. August 1, 1896* Receivership

Newspaper Excerpt: has since, we understand, 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 on the part of the cashier (losses attributed to cashier), bank forced to close and placed in hands of a receiver
Newspaper Excerpt: The Spring River Bank, at Hardy was forced to close its doors one day last week and has since ... been placed in the hands of a receiver
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 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.