515. Bank of Mineral Springs (Mineral Springs, AR)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
August 4, 1921
Location
Mineral Springs, Arkansas (33.876, -93.919)

Metadata

Model
gpt-5-mini
Short Digest
00eaecd7

Response Measures

None

Description

Articles indicate the Bank of Mineral Springs was already suspended by Aug 4, 1921 and had a receiver (T. J. Dillard). In May 1922 a court order permitted the receiver to liquidate and pay depositors 100%, indicating permanent closure and wind-up. No run is mentioned.

Events (3)
1. August 4, 1921 Receivership
Newspaper Excerpt
T. J. Dillard, former president and present receiver of the suspended Bank of Mineral Springs, was notified by the state banking commissioner that he had displaced Judge W. P. Feazel of Nashville, as attorney for the institution by the appointment of A. D. DuLaney of Ashdown.
Source
newspapers
2. August 4, 1921 Suspension
Cause
Government Action
Cause Details
Bank was suspended and placed under a receiver by the state banking commissioner; suspension is government action.
Newspaper Excerpt
Mineral Springs, Aug. 4-On last Thursday T. J. Dillard, former president and present receiver of the suspended Bank of Mineral Springs, was notified by the state banking commissioner...
Source
newspapers
3. May 27, 1922 Receivership
Newspaper Excerpt
Mineral- Springs Bank to Pay all Creditors ... Judge Shaver had on Thursday issued an order permitting the receiver to pay off all the depositors and to liquidate at once all the liabilities of that institution. All will be paid the full 100 per cent.
Source
newspapers

Newspaper Articles (2)
1. August 6, 1921 The Little River News Ashdown, AR
Article from The Little River News, August 6, 1921

Click image to open full size in new tab

Article Text

DuLANEY NAMED ATTORNEY Ashdown Attorney Will Complete the Business of Bankrupt Bank. Mineral Springs, Aug. 4-On last Thursday T. J. Dillard, former president and present receiver of the suspended Bank of Mineral Springs, was notified by the state banking commissioner that he had displaced Judge W. P. Feazel of Nashville, at attorney for the institution by the appointment of A. D. DuLaney of Ashdown. Mr. DuLaney made his first visit to this city Saturday in his new capacity Saurday. It is stated by Mr. Dillard that after a conference with Mr. DuLaney it was decided to employ a certified accountant to make a thorough audit of the accounts of the bank, covering a period of several years, and that such a person has been arranged for. Mr. Dillard stated that this would entail a considerable expense, but that it seems to be the only way to arrive at the true condition of the institution, and to place responsibility for misdeeds if any have been commited.

2. May 27, 1922 The Little River News Ashdown, AR
Article from The Little River News, May 27, 1922

Click image to open full size in new tab

Article Text

Mineral- Springs Bank to Pay all Creditors Hon. A. D. DuLaney, atorney for the State Banking Department in the matter of the defunct Bank of Mineral Springs, stated Friday that Judge Shaver had QR Thursday issued an order permitting the receiver to pay off all the depositors and to liquidate at once all the liabilities of that institution. All will be paid the full 100 per cent. Mr. DuLaney has been interested for several months in assisting in the collection of accounts due the bank. He stated that the liquidation at this time was due to the fact that the Dillard and Kent interests, who were stockholders, had mortgaged all their property that the full amount might be raised and settled up.