390. Bank of Higden (Higden, AR)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
July 30, 1914
Location
Higden, Arkansas (35.573, -92.203)

Metadata

Model
gpt-5-mini
Short Digest
4fe65b91

Response Measures

None

Description

Newspaper reports state the Bank of Higden closed its doors last week (early Aug 1914) and federal and local authorities later charged a director with receiving deposits while the bank was insolvent. By June 1915 the bank's assets were sold by the receiver. No article describes a depositor run prior to suspension; the sequence is a suspension/closure followed by receivership and asset sale.

Events (2)
1. July 30, 1914 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed after becoming insolvent; director charged with receiving deposits knowing bank was insolvent and mail-fraud allegations pointing to internal malfeasance
Newspaper Excerpt
the defunct Bank of Higden which which closed its doors last week
Source
newspapers
2. June 2, 1915 Receivership
Newspaper Excerpt
Attorney Thomas Poe of Little Rock purchased the assets of the defunct Bank of Higden, including notes, accounts motgages and real estate, for $975.
Source
newspapers

Newspaper Articles (2)
1. August 6, 1914 Pine Bluff Daily Graphic Pine Bluff, AR
Article from Pine Bluff Daily Graphic, August 6, 1914

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Article Text

HIGDEN BANKER IN U. S. PRISON Eugene B. Causley Charged With Using Mails to Defraud. Little Rock, Aug. 5.-Eugene B. Causley, said to have been a director of the defunct Bank of Higden which which closed its doors last week, was arrested here last Sunday at the Grand hotel by Deputy United States Marshal L. F. Madden on a charge of using the mails to defraud. Monday Sheriff W. G. Hutton received a warrant from the sheriff of Cleburne county charging Causley . with receiving deposits at the bank knowing it was insolvent. Causley waived an examining trial Monday before Commissioner W. S. Allen and his bond was fixed at $2,000, and the bond on the charge from Cleburne county was fixed at $1,000. He has not yet made either bond and is being held in the Pulaski county jail, but claims that he will be successful in making the bonds tomorrow morning. Causley was also a director of the Higden Lumber company, which went into the hands of a receiver at the time the bank failed. He is one of the most prominent citizens of that place. It is alleged by the federal authorities that Causley did considerable business with a trust company of Joplin, Mo., and corresponded through the mails to solicit business to defraud. The Bank of Higden was organized about three years ago and is said to have enjoyed a good business up until the past few months.

2. June 2, 1915 Judsonia Weekly Advance Judsonia, AR
Article from Judsonia Weekly Advance, June 2, 1915

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Article Text

Preliminary survey work on a road to be built from Ravenden Springs to Ravenden, eight miles, was started here by one of the surveying parties of the State Highway Department. Attorney Thomas Poe of Little Rock purchased the assets of the defunct Bank of Higden, including notes, accounts motgages and real estate, for $975. To date, 4,008 bales of cotton. worth $160,000, have been shipped from Kingsland. The amount makes the 1914-15 season the largest in the history of the town. Cattle are dying in some sections of Stone county. It is thought the deaths have been caused by the fever tick. Nine thousand crates of strawberries have been shipped from Horatio this season. At the receiver's sale of the Arkansawyer Publishing Company's effects, the plant was bid in by A. A. Tindall and W. C. Moore of Stuttgart for $1,050. If the sale is confirmed by the chancery judge, it is understood that the plant will be combined with that of the Review and Booster. D. C. Dodson of St. James, Stone county -tho has quite a reputation as a violis maker, has made a fine violin whx he will send to President Wilson