376. Citizens Bank (Harrison, AR)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
December 17, 1930
Location
Harrison, Arkansas (36.230, -93.108)

Metadata

Model
gpt-5-mini
Short Digest
48eb3597

Response Measures

Full suspension, Books examined

Description

The Citizens Bank & Trust Co. of Harrison suffered runs/gradual withdrawals and failed to open on Dec 17, 1930 (linked to the Hudspeth/American Exchange group). It reopened by March 1931, then was one of nine Hudspeth-controlled banks that closed again (Sept 1–2, 1931) after Hudspeth's letter and investigation; depositors forcibly obtained cash. The September closures were taken over by state examiners and appear permanent in the coverage. Cause of initial run and December suspension linked to failures in the Hudspeth/American Exchange bank group (information about other local banks). The September collapse is tied to bank-head misconduct/condition of the chain (bank-specific adverse information).

Events (5)

1. December 17, 1930 Run
Cause
Local Banks
Cause Details
Heavy withdrawals prompted by the collapse/connection to the Hudspeth/American Exchange bank group (news of Little Rock American Exchange failure and Hudspeth's ties).
Measures
None reported besides attempts to make bank remain open; bank failed to open.
Newspaper Excerpt
Gradual withdrawals for several days forced the closing.
Source
newspapers
2. December 17, 1930 Suspension
Cause
Local Banks
Cause Details
Suspension/failure to open caused by heavy withdrawals tied to Hudspeth/American Exchange group's collapse.
Newspaper Excerpt
The Citizens' Bank and Trust Company ... failed to open this (day) leaving only one banking institution in the city.
Source
newspapers
3. March 1, 1931* Reopening
Newspaper Excerpt
the Citizens Bank and Trust company, which closed in December and opened recently . . . began missing small amounts of (cash). (March 10, 1931 article referencing that the bank closed in December and 'opened recently')
Source
newspapers
4. September 1, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closure followed a letter from A.T. Hudspeth and revelations/charges about his conduct (warrant issued charging acceptance of deposits while banks were insolvent); panic and state intervention followed. State examiners took charge.
Newspaper Excerpt
nine of his banks closed following receipt of a letter from him ... The banks closed were: Citizens Bank and Trust company ... All closed last November following runs which bank officials said were brought about by Hudspeth's connection with the B. Banks group.
Source
newspapers
5. September 2, 1931 Other
Newspaper Excerpt
County Collector Dan Hale and former Sheriff L. M. Martin ... entered the bank armed with pistols ... locked three officials in the bank and expressed determination to remain until the bank vault opened today; depositors obtained cash from closed banks.
Source
newspapers

Newspaper Articles (13)

Article from The Courier News, December 17, 1930

Click image to open full size in new tab

Article Text

TWELVE Bank and Trust of Harrisont and Affiliated Institutions Close. LITTLE Dec. iccked by the closing of more than four score state and national banks month ago. felt the strain of second upthrust when group banks, whose affairs were closeinterwoven. closed their doors today. The institutions suspending iness today included some of largest in the northwestern section. The group was headed by owns shares in all the affected institutions. The of the group is the Citizens Bank and Trust company Harrison, of which Hudspeth rice-president. The bank was capiInlized at $100,000. and deposits gregated more than $1,000,000 was generally conceded in banking circles here today the collapse was directly attributable the November crash. which carried the Banks group, consisting of more than 40 banks and headed by the American Exchange Trust company of Litle Rotck. reported that Hudspell: held large block of stock In the Little Rock bank. The closed banks declined make any statement other than say the suspension caused by heavy withdrawals of the past two weeks. resulting from the failure Caldwell and company. Nashville, banking house, and difficulties encountered by the Banks group. Two national banks were among those closed today. They the First National Bank of Harrison and the First National Bank of reka Listed among the banks closed today The Citizens St. Joseph: Citizens Bank and Trust company. Harrison; First National Bank, First National Bank, Eureka Springs: Bank of A1Alpena Pass: Bank of North Arkantas, Everton: Bank of Lead Hill. Lead Hill: American Exchange Bank, First State Marshall: Citizens Bank. Yellville: Bank Filippin. Bank of Tyatt. the last two of which are brauches of the Citizens Bank Mississippi Bank Closes ABERDEEN Miss.. Dec. 17. (UP) On an order of the board of directors the Commercial Bank and Trust company. one of three banks here, failed to open today. and affairs were turned over to the state tanking for liquidation Capital of the bank was with $15,000 sinking fund. The bank statement Issued 1930 showed deposits of $118,000 with savings accounts deposited totaling


Article from The Boston Daily Globe, December 17, 1930

Click image to open full size in new tab

Article Text

BANKS CLOSED Eight State Institutions and Two Nationals LITTLE ROCK, Ark, Dec 17 (A. P.) State Banking Department toannounced the closing of 10 banks day Northwest Arkansas. Eight State banks the group were placed in charge of the State Bank Commisand two were turned to the United States Walter E. Taylor, State Banking said Hudspeth Harrison, director the closed American Exchange Bank and Trust Company of Little Rock, had an terest in nine of the banks closing today. Taylor declared Hudspeth's connection with the Little Rock bank caused heavy withdrawals from the others. of the closed banks at Harrison. These the Citizens' Bank and Trust Company, the largest in the group and the National Bank The Citizens' Bank at St small was the only one in the group with which Hudspeth is not Taylor The 10 banks had total deposits of the time of the last bank call on Sept Their total capital surplus then were given as $383, Others closing American Exchange Bank, First National Bank, Eureka Springs: Bank of Leadhill: Bank of Pass, and First State Bank, The closing of the American Exchange Bank and Trust Company at Little Rock on Nov 17 has been folliquidation of approximately 90 banks the State. About third of these have reopened.


Article from The Boston Daily Globe, December 17, 1930

Click image to open full size in new tab

Article Text

GRADUAL WITHDRAWALS FORCE BANK TO CLOSE HARRISON Ark, Dec 17 (A The Citizens' Bank and Trust Company and the First National Bank here failed to open this leaving only one banking institution in the city Officials said gradual withdrawals for several days forced the closing.


Article from The Courier News, March 10, 1931

Click image to open full size in new tab

Article Text

Took Cash From Vault of Citizens Bank at Harrison Is Charge. HARRISON, Ark., March 10. (UP brother of Ed Mays, prominent St. Louis banker, arrested here late Monday charges of grand larceny. announced by officials today. He was released on $1,000 bond and his hearing was set for Saturday. Mays came here recently collect notes owed to the Grand National Bank of St. Louis by the Citizens Bank and Trust company, which closed In December and opened recently. While here. according to Hudspeth, vice president of the company, he had to the bank recently began missing small amounts of About $50 in was marked currency and placed in the vault and Monday was After banking gone. hours Mays was arrested and part the found in his money possesIt was identified by bank employes.


Article from The Courier-Journal, September 2, 1931

Click image to open full size in new tab

Article Text

Farmers Get Funds From Closed Bank Armed Depositors Demand Money Another Arkansas Institution. Little Rock, Ark., Sept (Wednesday) Arkansas Gazette says three officials the Citizens' Bank Harrison. which closed yesterday following disappearance A. Hudspeth, controlling officer. were held prisoners in the bank for several hours by depositors entered and demanded their money The Gazette says the two depositors armed with pistols. When told the time lock the vault was set for o'clock in the morning. they locked the three officials in the bank and remained until shortly suaded the men to release them. The the two positors Former M. Martin. Harrison, and County Collector Dan Hale The three officials were Claude Alexander vice president Dan cashier and Ernest sistant cashier bank examiner was demanded county funds and Martin requested $5,000 deposits. FARMERS GET CASH. Ark., Sept. ing meeting directors of the closed First State Bank late today. group of farmers demanded and redeposits. Bank officials said the depositors got between and Sheriff Ray Hogg said there no but farmers quietly but firmly demanded their money Pay. ments said until all the was exhausted. search for Hudspeth today after nine the Mar shall closed receipt letter the Public. the blame and say. ing that "when this is in print, I'll be Canada warrant charging Hudspeth with accepting deposits while knew his banks insolvent was issued special grand jury investigate sought Deposits the banks about All closed last November following which bank officials brought peth's connection with the A. B. M. Banks group Hudspeth's letter said he left 000 worth his home depositors that affairs were properly managed "the banks will pay dollar cashier the bank Marshall nephew Hudspeth said bank offiout under prothat they refusing to responsibility While didn't see any weapons the men armed Hudspeth and meant


Article from Evening Star, September 2, 1931

Click image to open full size in new tab

Article Text

INVASION OF BANKS FOR FUNDS PROBED Depositors Who Took Money in Arkansas Closings May Face Charges. By the Associated Press. LITTLE ROCK, Ark., September 2.Authorities today investigated the reported invasion of two of the nine suspended A. T. Hudspeth Banks by depositors who demanded their moneysuccessfully in one case-as a Nationwide search for the head of the chain got under way. In Marshall, Ark., officials of the First State Bank said a group of about 25 townsmen and farmers quietly entered the institution after it closed yesterday and told the directors, in meeting, they wanted their money. $5,000 Deposits Paid Out. There was no disorder. A. A. Hudspeth, cashier, nephew of A. T. Hudspeth, said, But it was easy to see they were mad and meant business." Deposits totaling approximately $5,000 were paid out to the men. Officials of the Citizens Bank & Trust Co. at Harrison, Ark., said County Collector Dan Hale and former Sheriff L. M. Martin of Harrison, entered the bank armed with pistols. Informed that the funds were in the vault, protected by a time lock, they locked three officials in the bank and expressed determination to remain until the bank vault opened today. However. State Senator Roy Milum, Prosecuting Attorney Jack Holt and others persuaded them to release the officials. Claude Alexander, vice presidert: Dan Holms, cashier, and Ernest Tims. assistant cashier. Examiner Allowed to Leave. A State bank examiner. checking the bank's affairs, was allowed to leave. The officials said Hale asked for $30.000 in county funds and Martin $5,000. Prosecuting Attorney Holt said it was "up to the grand jury" whether action would be brought against the two depositors. At Marshall. A. A. Hudspeth said bank examiners were expected today. He said the deposits were paid under protest, and this and the possibility of bringing charges would be discussed with the examiners. The head of the chain of banks, A. T. Hudspeth, left Friday for St. Louis with the announced intention of borrowing funds there. Yesterday a letter was received from him. addressed to the public. which said, "When this is in print I'll be in Canada." He assumed responsibility for the condition of the banks, but said, "I tried hard to make them go." A warrant charging him with accepting deposits in banks while knowing them to be insolvent has been issued by Prosecuting Attorney Holt.


Article from Clarion-Ledger, September 2, 1931

Click image to open full size in new tab

Article Text

Redouble Efforts To Find HARRISON, Ark., Sept. nationwide search Hudspeth, prominent Arkansas financier, was instituted today ter nine of his banks closed lowing receipt letter from him the blame for closings and saying that "when this is print, I'll in Canada. of arrest charging with acceptance posits his banks to insolvent was issued Prosecuting Attorney Jack Holt, also sought special grand jury probe activities of Hudspeth. Closing of the banks left two Arkansas counties without banking facilities. Deposits nine institutions were slightly more $2,000,000. The banks closed were Citizens Bank and Trust and company, the Peoples Saving bank, both of Harrison: First bank. Marshall: Yellville; American Exchange, Leslie; Bank of Alpena, Alpena Pass; Bank of Lead Hill, Lead Hill; Bank of North Arkansas, Everton, and the Bank of Flippin, at Flippin. All closed last November following runs which bank officials said brought about by Hudspeth's connection with the B banks group. Hudspeth was director the largest bank-the Little of which was followed the suspension closing 146 other banking institutions Arkansas. nine stitutions involved today re-opened during the last few months. Hudspeth's letter assumed blame for condition his banks "although tried hard to make them Hudspeth's letter said he had turned over worth of and his home here to sold for benefit of depositors, and that affairs properly managed banks pay every dollar owed."


Article from The Tampa Tribune, September 2, 1931

Click image to open full size in new tab

Article Text

NINE ARKANSAS FINANCIER FLEES Leaves Letter Assuming Blame for Failures Ark. Sept. clated search for Hudspeth, prominent Arkanfinancier, was instituted today after nine of his banks closed following receipt letter from him addressed the public," assuming blame for the closings and saying that "when this is in print, I'll in Canada." warrant of arrest Hudspeth with acceptance of deposits knowing his banks to insolvent was issued by Prosecuting Attorney Holt. sought special grand jury session to probe activities of Hud- speth. Closing of the banks left two north Arkansas counties without banking facilities. Deposits of the nine institutions were slightly more than The banks closed were: Citizens Bank company, and the Peo ples Savings bank, both of Harrison: First State bank, Marshall: Citizens bank, Yellville: American Exchange Leslie: Bank Alpena, Alpena Pass: Bank Lead Hill, Lead Hill: Bank of North Everton and the Bank of at Flippin. All closed last November following runs which officials said brought by Hudspeth's connection the Banks Hudspeth the state's largest Exchange Little closing of which by the suspension or closing of other banking tions Arkansas. The nine institutions involved today re-opened during the last few months Assumes Blame Hudspeth's letter assumed blame for condition of his banks, "although tried hard them The letter said he had turned worth property and his home sold for benefit of that affairs properly managed "the banks will pay dollar "Words cannot express my the letter only own life out but my folks and quite of my friends affected years will Canada this but Harrison will never off mind well the other places which interested. Because most the banks in this immediate section involved. Holt said there "expression" of resentment against Farmers Get Deposits MARSHALL Sept. Entering meeting directors the closed First State bank today, group of farmers demanded ceived deposits totaling, bank officials said, $4500 $5000 First State of nine Hudspeth chain which closed morning. Sheriff Hogg said there no order that the farmers quietly but firmly demanded their money. Payments continued. he said, until all the bank's currency was exhausted


Article from The Atlanta Constitution, September 2, 1931

Click image to open full size in new tab

Article Text

SEARCH IS INSTITUTED MISSING BANKER HARRISON, Ark., Sept. A nationwide T. Hudspeth. prominent Arkansas financier, was instituted today after nine of his banks closed following receipt letter from the Public, blame the closings and saying this is in warrant of arrest charging Hud. speth with acceptance deposits, knowing banks to be insolvent. by Prosecuting Attorney Jack Holt, sought special jury to probe activities of Hudspeth. Closing the banks left two north Arkansas counties without banking facilities. Deposits of the nine institutions were slightly more than $2,000,000. The banks closed were: Citizens Bank and Peoples Savings both of son First Marshall Citizens bank, American Exchange. Bank Pass: Bank of Lead Hill, Lead Hill: Bank Arkansas, ton, and the Bank Flippin, at FlipAll closed last November following which officials brought about by Hudspeth's the B. Banks group. Hudspeth was director in state's American Exchange Little closing of which was by of 146 banking institutions Arkansas. The nine tutions involved today reopened during the last months. Hudspeth's assumed blame condition of his banks, 'although tried hard letter he had $100,000 his home here to for benefit depositors. that affairs properly managed "the banks will pay dollar owed. cannot express my feelings.' the continued. only life out, my folks and quite my friends will affected years to come. Canada before this is in print, but Harrison will never my mind well as the places in which interested. Holt said he did not believe Hudspeth had gone to He police many cities, to the search. most of the banks in this involved. Holt said there was much "expression of resentment against Hudspeth. Besides his banking Hudspeth in many busiof this H. Daugherty. examiner from the state took charge the institutions. pending arrival of other officials from Little Rock.


Article from Norfolk Daily News, September 2, 1931

Click image to open full size in new tab

Article Text

PATRONS SEARCH FOR HEAD OF ARKANSAS CHAIN IS STARTED $5,000 PAID DEPOSITORS County Collector and Former Shep Iff Are Reported to Tave Entered Bank With Pistols and Demanded Money Little Rock, Ark., Sept. Authorities today investigated the reported invasion of two the nine suspended Hudspeth banks by depositors who demanded their in one search the head of the chain got underIn Marshall, Ark., officials of the First State bank said group of about twenty-five townsmen and farmers quietly entered the institution after closed yesterday and told the directors, in meeting, they wanted their money. Deposits totaling approximately $5,000 paid out to the men. Officials of the Citizens Bank and Trust company Harrison, said County Collector Dan Hale and Former Sheriff Martin Harrison, entered the bank armed with pistols. Officials Released Informed that the funds were in the vault, protected by time lock, they locked three officials the bank and expressed determination to remain until the bank vault opened today. However, State Senator Roy Milum, Prose* cuting Attorney Jack Holt and othe persuaded them to release the officials. state bank examiner, checking the bank's affairs, was allowed to leave. The officials said Hale asked for $30,000 in county funds Martin $5,000. Prosecuting Attorney Holt said it was the grand jury" whether action would be brought against the two depositors. The head of the chain of banks, Hudspeth, left Friday Louis the tention of borrowing funds Yesterday letter was received from him, addressed to the public, which said "when this be in Canada."


Article from The Commercial Appeal, September 2, 1931

Click image to open full size in new tab

Article Text

TWO ARE INDICTED ON ATTACK COUNTS Farmer and Negro Who Battled Officers Face Assault to Murder Trials. E. F. Ketchens. farmer, who shot Deputy Aubrey Clapp gun battle on Castalia Avenue, and Willie Hill, negro, who bit and clawed Deputy Louis Kahn in battle on Southern Avenue, were indicted on charges of assault to murder by the busy grand The inquisitors returned jury 33 true bills and ignored two cases Ketchens shot Clapp while the lat. ter and Deputy W. Hildebrand were trying warrant on him for assaulting his law. Mrs. J. H. Ketchens, 1050 South Rembert The officers say he started shooting without warning. Ketchens claims that the officers told him who they and that they opened fire without explaining their business. Ketchens once was sentenced to life imprisonment for killing W. H. Causey, traveling on the old Kate Adams, but the case was reversed. Posse Caught Hobo. Hill, hobo, was shot by special agents after he had attacked Deputy Kahn when the latter went out to arrest him for trespassing. The negro's teeth nearly bit through the deputy's little finger in fight for the officer's pistol. Hill got the gun and escaped. but was shot down later by posse of agents. John File and James Avent, youths, indicted for robbery, with Carl Flannagan as prosecutor. Flannagan said they robbed him of $42.25. Murphy was indicted for assault to murder for an alleged knife attack upon Henrietta Garrett, St. Charles. Four indictments charging forgery also were returned. T. Marks was charged with forging $3.95 check on R. T. Clarkson Company, Inc., Oliver Banks with forging $5 on the Nail Drug C. A. Gruder forging $2.25 check on Lewis Sons Company, and Anderson with forging $24 check on the Banks Grocery Company. Indicted on Fraud Charge. W. H. Monsarrat was indicted for fraudulent breach of trust, the dictment charging that he took belonging to the Bob Bruce Tire Company, where he was employed. Henderson Briggs also was indicted on like charge with Rosie Jackson, 400 Pontotoc, prosecutor. She charges he made away with an $80 Willie Lemmons was Indicted for and larceny indict ments read against Newton Scruggs Charlie McKinney, Burrell Colgan Woodrow Noblin, Curley Burros Louise Carter. Albert Conley and George Covington were indicted for drunken driving, and Marcellus Chambliss for beating board bill. Pistol were against Willie Hill, Burrell Colgan, Willie Johnson, John Duncan and Bob Howdy. EXPECT MANY EXHIBITS. Fifteen Communities Will Have Booths at County Fair. BLYTHEVILLE, Ark., Sept. Fifteen community exhibits and large number of individual entrants are expected in the sixth annual Mississippi Oct. County Fair, Sept. 28 to With more than $1,400 in cash prizes, besides large number and ribbons for championship men, and children from all parts of this large county plan to enter their best chick ens, pigs, hand work, preserves, cakes, vegetables and other products which will demonstrate an active year on the part of those interested in and home making. The Chamber of Commerce sors the annual fair. Last year, despite the drouth, the fair was great success with enough money cleared to wipe out all indebtedness accrued in the past three years. Co-operating with the Chamber of are the county agricultural and home agents. Plans already show that the swine and poultry shows will be even twice as large as those of last year and 15 communities have made reservations for booths this year in comparison with nine last year. of Harrison, who also sought a special grand session to investigate activities of Hudspeth. Attorney Jack Holt, of Harrison, who also sought special grand jury session to investigate activities of Hudspeth. Deposits of $2,000,000. Closing of the banks left two North Arkansas counties without banking facilities. Deposits of the nine institutions were slightly more than $2,000,000. The banks closed were Citizens Bank Trust Company and the Peoples Savings Bank, both of Harrison: First State Bank, Marshall; Citizens Bank, Yellville: American Exchange, Leslie: Bank of Alpena, Alpena Bank Leadhill, Bank of North Arkansas, Everton, and the Bank of Flippin, at Flippin. All closed last following runs which bank officials said were brought connection with the B. Banks group. Director in Lit Roc Bank. Hudspeth director in the American Exchange at Little Rock the closing of which was followed by the suspension closing of 146 other bank ing institutions in Arkansas The nine institutions today reopened during the last few months. Hudspeth's blame for condition his banks, though tried hard to make them go. Hudspeth's letter said that he had turned $100,000 of property and his home here to be sold for benefit of and that were properly managed, banks will pay every dollar "Words cannot express my feelings, the letter only is my own life stamped out but my folks and quite few of my friends will be affected for years to come. will be in Canada this is in print but Harrison will never be off my mind as well as the other places in which was interHolt said he did not believe Hud speth had gone Canada He wired police of many cities, however, to aid in the search. Because most of the banks in this immediate section were involved, Holt said there much "expression" of resentment against Hud. speth Besides his banking connections, Hudspeth was interested in many business enterprises of this section. H. A. Daugherty, examiner from the state bank department, took charge of the institutions pending arrival of other officials from Little Rock.


Article from The Macon Telegraph, September 2, 1931

Click image to open full size in new tab

Article Text

BANKS CLOSE; SEARCH BEGUN FOR FINANCIER Hudspeth Assumes Blame For Closing of Nine Institutions in Arkansas WARRANT ISSUED FOR HIM "I'll Be in Canada Before This Is in Print," He Writes "To The Public" HARRISON. Ark., Sept. (P)-A nation-wide for Hudspeth. prominent financier, instituted today after nine his banks closed receipt from him addressed the assuming blame the closings saying that "when this is in print, in Canada. warrant arrest charging Hudspeth with acceptance deposits knowing his banks be insolvent was issued Prosecuting Attorney Jack Holt, who also special grand session to probe activiHudspeth. Closing banks left two Arkansas banking facilities. Deposits of the nine institutions slightly $2,000,000. The banks closed were: Citizens Bank Trust and the Peoples Savings bank, both Harrison: First State bank, Marshall: Citizens bank, Yellville: American Exchange Bank Alpena, Alpena Bank Lead Hill, the Bank of Flippin, at Closed in November All closed last November following bank officials said brought by nection the banks group. Hudspeth state's Exchange Little closing which was followed by the suspension closing 146 other banking institutions Arkansas The institutions involved re-opened during the few Hudspeth's letter assumed blame for his tried hard Hudspeth's letter had turned $100,000 worth of property and his home here to be sold for benefit depositors, that affairs properly managed banks will pay every dollar "Words cannot feel. express my my own life stamped out, my Priends affected for come Canada before this in print but Harrison never my mind other places which interBecause most of the banks in this immediate Holt said there much (Continued Next to Last Page)


Article from The Star Progress, September 3, 1931

Click image to open full size in new tab

Article Text

Prosecuting Attorney Says He Believes Bank's Head Planned flight After his home was Searched. Harrison, Ark., Sept. 1.-Jack Holt, prosecuting attorney, revealed Tuesday night that photographs and other papers were found destroyed at the home of Hudspeth, prominent financier, whose group of nine banks in Northwest Arkansas closed Tuesday after ceipt letter from Hudspeth saying "When this is in print, I'll in Canada.' The prosecuting attorney said he had been unable to locate Mrs. and her son and daughter, who left Friday for Cleveland, Okla., ostensibly to visit relatives. Hudspeth left also on that date, he to borrow money at St. Louis which to pay county deposits which were to have been withdrawn Tuesday from his banks. Holt said he was informed the Hudspeths had not arrived at Cleveland. Bank examiners were working Tuesday night, checking affairs of the institutions. Holt said he found several photographs of Hudspeth destroyed and evidence of destruction of other papers, he said, led him to lieve Hudspeth had planned flight. Holt instituted nationwide search for the bank head after he issued warrant charging him with acceptance of deposits knowing his banks to be insolvent. Entering meeting of directors of the closed First State bank at Marshall late Tuesday, group of citizens demanded and received deposits totaling, bank offiicals said between $4,500 and $5,000. The First State bank was one of nine of the Hudspeth chain which closed Tuesday morning. Ray Hogg, sheriff, said there no disorder, but that the farmers quietly but firmly demanded their money. Payments continued, said, until all the currency in the bank was exhausted. Closing of the banks Tuesday left two counties without banking facilities, as well as Harrison. posits of the nine banks were slightly more than $2,000,000. The banks that closed were, Bank North Arkansas, Everton, Bank of Flippin, at Flippin, the First State Bank at Marshall; Citizens Bank and Trust Co., and the Peoples Savings bank, Harrison; The bank at Yellville: American Exchange, Leslie: Bank of Alpena, Alpena Pass; Bank of Lead Hill, Hill. All of these institutions closed last year during the banking collapse, following runs which bank said were brought by Hudspeth's connection with the B. Banks group. The nine institutions had reopened during the last few months. Hudsptth's letter assumed blame for the condition of his banks. His letter said he had turned over $100,000 worth of property and his home here to be sold for the benefit of depositors, and that if af fairs were properly managed, "the banks will pay every dollar owed. Holt said he did not believe that Hudspeth had gone to Canada, but did not reveal the source of the information upon which he based belief. Because most of the banks in this immediate section were volved, Holt said there was much "expression" of resentment against Hudspeth. H. A. Daugherty, examiner from the satate bank department, took charge of the institutions pending arrival of other officials from Little