524. Mountain Home Bank (Mountain Home, AR)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
August 5, 1906
Location
Mountain Home, Arkansas (36.334, -92.385)

Metadata

Model
gpt-5-mini
Short Digest
2f8cd703

Response Measures

None

Description

Multiple articles (Aug 1906) report the Mountain Home Bank suspended payment and was placed in the hands of a receiver; articles describe insolvency (assets illiquid, heavy loans/real estate) rather than a rumor-driven run. Bank is identified explicitly as a private institution (Log Cabin Democrat). Dates derived from newspaper reports (Aug 5, 1906 report).

Events (2)
1. August 5, 1906 Receivership
Newspaper Excerpt
The institution closed its doors and was placed in the hands of a receiver.
Source
newspapers
2. August 5, 1906 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended because of insolvency/illiquid assets: loans and real estate values left institution unable to meet obligations (assets estimated $40,000, liabilities $24,000 but much in mineral real estate not cashable).
Newspaper Excerpt
The Mountain Home Bank has suspended payment.
Source
newspapers

Newspaper Articles (5)
1. August 3, 1906 Sharp County Record Ash Flat, Cave City, Evening Shade, AR
Article from Sharp County Record, August 3, 1906

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Article Text

NORTH ARKANSAS. What Is Happening In This Immediate Part Of The State. There are three prisoners in the Independence county jail. Randolph county has half a dozen candidates for county judge. Will Edmunds, aged 42 years, a wealthy farmer of Jackson county, died Monday. The residence of Mrs. Charles Parker, near Maynard, burned last week. Loss $900. Mrs. Ed Perry of Independence county was placed in the asylum for the insane last week. Lon Hutchison, night watchman at Cotter, was run over and killed by a train last Friday. The Confederate Veterans of Izard county are holding their annual reunion at Newberg this week. A census shows Newport to have 950 children of school age, of whom 490 are whites and 460 negroes. J. R. Elmore, a Baxter county farmer, this season produced 75 bushels of potatoes on half an acre of ground. The sheriff of Baxter county captured three wagon loads of blind tiger whiskey and beer at Cotter a few days ago. Evangelist Eichelberger of Ft. Smith recently held a great revival meeting at Barren Fork. There were many conversions. The statement of the financial condition of Izard county shows the county to have over five thousand dollars in the treasury. A vigorous no-license campaign is to be waged in Jackson county, and the temperance people have raised a fund to carry it on. There is to be a big democratic rally one mile east of Catheytown 11. Hons. August S. Brundidge and Clay Sloan will be the primcipal orators. Thomas Hess of Marcella, Stone county, is building a dam across a creek near his property and will use the power to run a saw and grist mill. The Mountain Home Bank susthe first part of the week. came as a pended The suspension Mountain Home shock to the people of and Baxter county. W. F. Cothron, clerk of Stone county, died last week of consumption, aged 39 years. The governor has appointed W. O. Ross to fill the vacancy. Fulton county is in debt nearly $19,000, according to the statement just issued by the clerk. The indebtedness was only reduced $330 the past twelve months. Elder W. E. Sherrill, Baptist, and Rev. I. D. McClure, Methodist, are carrying on a controversy in the Melbourne Times that threatens to end in a debate from the platform. In the Randolph circuit court last week, Bud Strickland was convicted of carnal abuse and given a year in the penitentiary. John Norris was also sent up for a year for stealing cattle. Col. John T. Morgan, a veteran of the Mexican and civil wars, died at his home in Independence county last week, aged 79 years. All his life but three years was spent in Independence county. The Baxter County Citizen

2. August 6, 1906 The Daily Ardmoreite Ardmore, OK
Article from The Daily Ardmoreite, August 6, 1906

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Article Text

BANKING INSTITUTIONS CLOSE. One in Arkansas Takes Two in indian Territory with it. Ardmoreite Special Mountain Home, August 5.-It has not yet been announced just what the liabilities and the assets of the Moun tain Home Bank are. The institution closed its doors and was placed in the hands of a receiver. There were three banks in the chain. as follows: At Mountain Home, operated by Rudolph Brown: at Comanche, I. T., by Capt. C. W. Brown, father of Rudolph and Steve: at Rush Springs, I. T., by Steve Brown. Steve and Rudolph Brown are sons of Capt J. W. Brown who was the power back of the three institutions. The assets of the Mountain Home Bank are estimated roughly at $40,000. and the liabilities $24.000. Of the assets, there is about $20.000 in realestate, mostly mineral lands that cannot be cashed for anything like the valuation gvien at this time. Capt. Brown says they will pay every cent if he is given time, but it will ruin him. J. W. Baker, the county treasurer, had approximately $12,000 on deposit in the bank. and it will utterly ruin him. Hon. Jerry South lost about $500 on deposit. There were many depositors who had sums of from $5 to $3,000 in the bank. Brown's wife and her brother, Cliff Livingstone, have a store and owed some money to the bank, which will greatly embarass them. The failure has caused a general upheaval in business circles.

3. August 9, 1906 The Log Cabin Democrat Conway, AR
Article from The Log Cabin Democrat, August 9, 1906

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Article Text

After whipping a deputy constaa of the peace on a eral ble, bystanders justice and Sunday, seva South Hot Springs preacher "Bud" Davis preached two sermons The attempt of the deputy constable to bully citizens who had remonstrated with him for beating his horses, was the cause of it all. The Mountain Home Bank has suspended payment. It is a private institution with capital of $10,000, which the last report showed fully paid in, the surplus at that time showing $2,500, with deposits amounting to $40,000. Loans were stated to be $40,000 with cash on hand of $12,500. Mrs Mary Jane Wignall, of Vandervoort, Polk county is an heir "to part of Russell Sage's millions. She will, under a bequest of the will giving $25,000 to each nephew and neice, get that amount, that is unless she joins with others who are contesting for more, in which case she may get a large sum, or nothing. The Times-Democrat report of the cotton crop in Arkansas gives general conditions as pointing to largest crop in the history of the state; insects are doing only little damage at this time. Labor is scarce, but there seems to be enough to cultivate the crop. Since the departure of over a hundred men from Fort Logan H. Roots some time ago for the march from Fort Sill, Okla., to Fotr Riley, Kan., the Fort has assumed a lonesome air, only twenty soldiers being there to "keep company" with one another. President Harvie Jordan of the Southern Cotton Association has accepted the invitation of the Business Men's League of Hot Springs for the meeting of the executive committee there September 6 to The Gravette Fruith Growers' Association has been receiving protests from growers in that vicinity regarding unsatisfactory prices paid by non-resident buyers. Maj. Gen. W. H. Haynes of the Arkansas State Guard has received a shipment of twenty-three boxes of uniforms, making it possible to carry out the full orders regarding the trip to Fort Riley, Kansas. Two men robbed a saloon in the wild western style on a Sunday sethe proceeds curing $80, the of illegal police liquor selling. It is said are looking for them but it might be best to let them go. A Little Rock Machinists' lodge has instructed its representatives to the Central Trades' Council to vote against the proposed Labor Day hot parade, saying that a march in the sun would be harder than work. A Fort Smith bar-tender has patented a device for saving ice, all of which may go to show that some good may come out of the Nazareth of liquor selling. Robert Eaton, a negro, has escaped from the state farm. He has but one leg, and was sent up for twenty-one years for havng killed a peddler near Little Rock and robbing him. Gov. Davis offered six rewards in one day for as many men, five of whom are wanted in Nevada county for burglary committed on March 23. Lawrence A. McLaughlin of Jonesboro, has been admitted as a midshipman to the Annapolis Naval Academy. The Little Rock school board wants 900 desks and 5,400 square feet of blackboard for the schools of that city. The proprietor of a Little Rock skating rink was arrested for having work done on his establishment or Sunday. The Crossett Lumber Company will bring settlers to locate on a large tract of land which it owns near the town. The board of directors of the Mur-

4. January 25, 1907 Sharp County Record Ash Flat, Cave City, Evening Shade, AR
Article from Sharp County Record, January 25, 1907

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money. Jones has brought suit for the recovery of the money. Both appeared before the mayor and paid fines for gaming. The school directors of Baxter county have employed legal counsel to bring suit against the bondsmen of ex-County Treasurer Baker for the recovery of several thousand dollars of school funds, which that official had deposited in the Mountain Home Bank when it failed some time ago. J. H. Douglas of Pocahontas has filed suit for damages in the sum of $2,125 against Prof. J. W. Campbell, principal of the Pocahontas school, and the board of directors of that school. A son of Douglas was suspended from school for alleged drunkenness. Of the amount sued for, $2,000 is asked for the humiliation connected with the incident and $125 is designated as the cost of placing the boy in another school.

5. December 6, 1907 Sharp County Record Ash Flat, Cave City, Evening Shade, AR
Article from Sharp County Record, December 6, 1907

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the penitentiary, has been pardoned. Fire destroyed the home of John Frekenburger, a farmer near Pocahontas, a few days ago, while the family was away from home. Tom Jones, who lived near Mountain Home, was killed a few days ago. While felling timber, a tree fell upon him and crushed him. The County Judge of Izard county has called a meeting of the road overseers for the discussion of the best methods of road making. Fred Marks of Powhatan and Mrs. Elizabeth Robinson of Strawberry were placed in the asylum for the insane at Little Rock recently. The Roberts gin at Pocahontas was destroyed by fire last 9 week. Ninety bales of cotton were destroyed, and the entire loss was $9,000. At Grand Glaise, Jackson I county, last week Clifton Ross, a 9-year-old boy, was shot and killed by his brother, who was handling a shot gun. The bondsmen of J. W. Baker, former Treasurer of Baxter county, have paid $6,080, of the $8,568 Baker had in the Mountain Home Bank at the time of its failure. A bootblack at Newport had $85 in the bank, and becoming scared on account of the panic, drew his money out. It was stolen from him the first night after he withdrew it. Federal Court will convene at Batesville next Tuesday. Judge Trieber decided to begin the term on Tuesday, instead of on Monday as heretofore, to avoid travel on Sunday by those having to attend. When the candidates for Governor were at Melbourne, an aged gentleman entered the court house just before the speaking began and said in a loud voice, much to the amusement of the crowd: "I am for Jeff Davis be gob." A woman giving her name as Mrs. Harvey and her home as West Plains, Mo., gave birth to a son in the waiting room of the depot at Hoxie one night last week. The agent took up a collection and bought a cot and bedding for the woman and some clothing for the infant, and sent them to West Plains on the next train. William Childers, one of the best known citizens of North Arkansas, died at Imboden last week, aged 63 years. Mr. Childers was for many years a power in politics in Lawrence county. During his terms as Sheriff and Collector, he announced through the papers that "poor white men and widows may pay their taxes in beeswax, coonhides, fat pigs or sweet potatoes." "