1.
April 30, 1906
Newport Daily Independent
Newport, AR
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NK OF NEWPORT SUSPENDS. Ferguson Probably Appointed ceiver by Chancellor Humphries and Bank May Pay Depositors in Full. T Bank of Newport has sused and on the front door day morning appeared a noto this effect, stating that the directors of that institution had deemed it advisable to suspend business and ask the appointment of a receiver, vouchsafing to the depositors as full protection and consideration of their interests as possible. The announcement came as a shock to the great majority of people, though a number. of large depositors had withdrawn their accounts owing to prevalent rumors of its impaired condition by reason of a heavy loan, which the borrower had failed to make good. The deposits of this, the oldest bank in the city, having been established in 1889, were nearly $200,000 and its failure falls heavily upon a large number of people. Not many business firms, but a large clientele of farmers, wage earners and people of small means were depositors in the suspended institution. One heavy loan as stated, was responsible for the suspension of the bank, and this would have been largely recovered, but for a year of unusual rains, which prevented sawmill operation and us the payment of incurred obligations: PAY DEPOSITORS IN FULL. To a reporter for the Independent Mr. R. M. Johnson, the cashier, stated that the finances of the bank, outside of the one bad loan were in excellent shape and they held little other paper that was not absolutely good. He bravely proposed to turn over his home and other property for the settlement in full of every depositor's claim and stated that he believed and hoped the bank would meet every such obligation. A call has been made upon the stockholders for the payment of the remainder of the stock, $25,000. The paid in capital of the bank has been $25,000, with a suplus of $35,000.
2.
May 1, 1906
The Salt Lake Tribune
Salt Lake City, UT
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Newport Bank Fails. LITTLE ROCK Ark., April 30.-The Bank of Newport, at Newport, Ark, falled to open for business today. It has deposits of over $100,000. The closing almost caused a panic in Newport business circles, as practically every house in the city was affected.
3.
May 1, 1906
The Waxahachie Daily Light
Waxahachie, TX
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BANK CLOSED. Its Failure to Open Monday Nearly Resulted In a Panic. Newport, Ark., May 1.-Bank of Newport did not open Monday. Following notice was posted on a door: "The directors have decided to clase until matters are adjusted." The bank, which is capitalized at $50,000 and has deposits of over $100,000. is one of the most prominent in the state. Asmets are not obtainable. The closing almost caused a panic in Newport business circles, as practically every house was affected. The trouble is supposed to have been caused by the failure of the bank to collect more than a $100,000 loan made to a manufacturing firm a year ago.
4.
May 1, 1906
The Salt Lake Herald
Salt Lake City, UT
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Little Rock. Ark., April 30.-The - Bank of Newport, at Newport, Ark., failed to open for business today. It has deposito of over $100,000. The closing almost caused a panic in Newport business circles, as practically every house in the city was affected.
5.
May 2, 1906
The Nevada County Picayune
Prescott, AR
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BANK OF NEWPORT CLOSES DOORS Reason Given for Suspension Is Large Loan Made Lumber Concern Which Has Suffereed Heavy Losses Recently. Newport, April 30. - The Bank of Newport established in 1889, the oldest of the local banks, with deposits of nearly $300,000, closed its doors this morning. A placard announced its suspension with the statement that a receiver had been applied for. At a meeting of the directors held yesterday evening it was decided to suspend business, and one of the members or the board, Attorney J. M. Stayton, was dispatched to Mammoth Spring to ask of Chancellor J. C. Humphries the appointment of a receiver who will probably be Alcorn Ferguson of this city. The announcement of the suspension came as a shock to a great majority of the people, though a number of large depositors had withdrawn their accounts owing to a prevalent rumor of its impaired condition by reason of a large loan made to a large lumber company which, through the past year, suffered heavy losses on account of excessive rains and inability to operate. Cashier R. M. Johnson says all depositors will be paid in full.
6.
May 2, 1906
Bryan Morning Eagle
Bryan, TX
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BANK CLOSED. Its Failure to Open Monday Nearly Resulted In a Panic. Newport, Ark.. May 1.-Bank of Newport did not open Monday. Following notice was posted on a door: "The directors have decided to close until matters are adjusted." The bank, which is capitalized at $50,000 and has deposits of over $100,000. is one of the most prominent in the state. As sets are not obtainable. The closing almost caused a panic in Newport business circles, as practically every house was affected. The trouble is supposed to have been caused by the failure of the bank to collect more than a $100,000 loan made to a manufacturing firm a year ago.
7.
May 3, 1906
Newport Daily Independent
Newport, AR
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MASS MEETING OF DEPOSITORS Held (At the Court House Wednesday Evening Asks That T.D. Kinman Be Appointed CoReceiver of Bank. At a mass meeting of depositors of the Bank of Newport, held at the court house WednesJay evening attended by about 200 people, probably half of whom were depositors in the suspended institution, action was taken toward the securing of Capt. T. D. Kinman as a coreceiver to act with the already appointed receiver, Alcorn Ferguson. Dr. C. West called the gathering to order and Judge L. Lippmann was chosen chairman and E. A. Shaver, secretary. The desire of the majority of the depositors seemed to be to have Captain T. D. Kinman to act as a co-receiver with Mr. Ferguson in the settlement of the bank's affairs and a committee consisting Dr. C. Wes M. M. Stuckey and G. L. Grant was appointed to draw up and present the necessary petition to Chancellor Humphries at Salem. The petition was drawn up and signed by a large number of depositors and Attorney G.L. Grant was despatched to Salem to secure the action of the chancellor. He left Thursday morning and is expected to return Friday. The confidence of those assembled was expressed in Mr. Ferguson by inviting him to address them, which he did. He stated that he had sought the assistance of Capt. Kinman, whose knowledge of the bank's affairs was much to be desired at this time, but the latter had been prevented, owing to the duties of another position. Mr. Ferguson took occasion to deny the various reports circulated purporting to express his opinion of the condition of the bank and declared that he would know no one in the administration of his duties as receiver. Depositor, stockholder, director and officer should all be treated alike, but naturally the depositors had his greatest sympathy. A committee named by the chair selected the following committee L. Lippmann. E. C.
8.
May 3, 1906
Ottumwa Tri-Weekly Courier
Ottumwa, IA
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AN ARKANSAS BANK CLOSES. Every Business Firm in Newport Affected by Failure of Institution. Little Rock, Ark., May 2.-The Bank of Newport, Newport, Ark., failed to The open for business yesterday. following notice was posted on the doors: "The directors have decided to close until matters are adjusted." George W. Decker is president and R. M. Johnson cashier. The bank is one of the most prominent in that section of the state. The capital stock is $50,000, with deposits of more than $100,000. The closing almost caused a panic in Newport business circles as practically every house in the city was affected: The trouble is supposed to have been caused by poor collections.
9.
May 4, 1906
Newport Daily Independent
Newport, AR
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One Receiver As Yet. Up to press hour Friday afternoon no word had been received from G. L. Grant, despatched to Mammoth Spring with a petition from some sixty depositors of the Bank of Newport, asking the appointment of Capt. T. D. Kinman as a co-receiver with Mr. Alcorn Ferguson of the suspended bank. Captain Kinman is however assisting Mr. Ferguson in his work, which is tedious and may require some time before a statement of the bank's condition can be given out.
10.
May 5, 1906
Newport Daily Independent
Newport, AR
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NOT READY TO REPORT. Committee Named by Depositors Meeting Asks Further Time Before Report-Judge Humphries in Missouri. The committee named by the meeting of depositors: of the Bank of Newport, Wednesday evening, consisting of Dr. C. West, E. C. Waterman and L. Lippmann are not as yet able to make a report and no meeting will be held tonight as had been previously announced. Receiver Ferguson is still busy in getting ready for a statement and has sent Judge L. Lippmann to Homan to look into the affairs of the Kelley Lumber Co., and report upon what the bank will be able to recover upon their paper. Mr. Ferguson is doing all in showinwer to make as good a bank as por he ureditors of the have confidence m his desire to treat all concerned fairly, as well as in his good judgment and ability. NO WORD FROM CHANCELLOR. Dr. C. West is in receipt of a letter from Attorney G. L. Grant, bearer of the petition of depositors asking the appointment of Capt. T.D. Kinman as co-receiver, stating that Chancellor Humphries is in Springfield, Missouri and would be there several days. Mr. Grant expected to leave at once for that city. A well known attorney, speakto an Independent reporter, said that the chancellor could not act in the matter while out of the state, as such an appointment would not be valid, and it may be a good many days before the action of the court upon this petition will be known.
11.
May 7, 1906
Newport Daily Independent
Newport, AR
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CAPTAIN KINMAN NAMED. Chancellor Humphries Appoints Him Co-Receiver With Alcorn Ferguson of Bank of Newport. Chancellor Humphries has appointed Capt. T. D. Kinman coreceiver with Alcorn Ferguson of the Bank of Newport and on Monday he assumed jointly with Mr. Ferguson charge of the suspended bank's affairs. Attorney G. L. Grant returned Sunday night from Springfield and Mammoth Spring whither he had been sent with a petition for Capt. Kinman's appointment. The receivers are still at work and are not yet in a position to make the statement keenly anticipated by the creditors and general public.
12.
May 8, 1906
Newport Daily Independent
Newport, AR
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COLLATERAL IN DISPUTE. Suit Brought By Certain Depositors to Secure Restoration of Collateral Held by Bank of Newport's Bondsmen. Suit was instituted Monday by certain depositors of the Bank of Newport, acting through their attorneys, Campbell & Suits, to secure the return of the collateral held by the bondsmen who became sureties for the Bank of Newport in the loan made by the county on October 9, 1905 of $45,421.23 to the suspended bank. The moneys loaned by the county are continually being drawn upon for current expenses and at the time of the bank's suspension, the amount due the county was $24,923.79. Upon this point, the books of the bank and the County Treasurer tally to a cent, the county commissioners of ao s, consisting of W. R. T R. W. Anderson and w. I. Robinson having gone over this matter. The sureties for the Bank of Newport in this loan from the county required the bank to put up indemnifying collateral in the sum of about $24,000. This collateral was paper due the bank. Since the failure of the Bank of Newport, the county treasurer has been able to make arrangements with the First National bank to meet all demands of the county and this was effected by the putting up on the part of the sureties of the Bank of Newport, the collateral in dispute.
13.
July 4, 1907
The Monticellonian
Monticello, AR
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Will Pay 60 Per Cent. The claims of the depositors of the Bank of Newport, represented by Senator Clarke, totaling about $108,000, will be settled on a compromise basis of 42 per cent net, which with the 18 per cent net divided paid out by the receivers, makes a total of 60 cents on the dollar.
14.
July 5, 1907
The Forrest City Times
Forrest City, AR
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Will Pay 60 Per Cent. The claims of the depositors of the Bank of Newport, represented by Senator Clarke, totaling about $108,000, will be settled on a compromise basis of 42 per cent net, which with the 18 per cent net divided paid out by the receivers, makes a total of 60 cents on the dollar.
15.
July 5, 1907
The Newark Journal
Newark, AR
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Miss Annie French will teach the summer school at Maple Springs, near Oil Trough. John and J. C. Rogers arrived home Tuesday from a business trip over in White county. Mr. and Mrs. J. O. Turner of Newport spent Sunday in the city, the guests of Mrs. Mollie Porter. Mrs. Felix Hartgraves of Tuckerman spent Sunday here, attending the Missionary Rally and visiting friends. J. C. Gibson and Toos Jernigan came down from Sulphur Rock Saturday to attend the funeral of J. W. Stone. H. A. Gire extends you a cordial invitation to call at his new barber shop and have your whiskers amputated. Misses Pearl Morgan, Lizzie Leggett, Mamie McLendon and Fannie Hazelrigg of Moorefield spent Sunday in the city. Thos. Greenhaw, a prominent young business man of Tuckerman spent Sunday in the city, the guest of his sister, Mrs. J. E. Porter. The attention of our readers is called to the announcement of A. F. Mlller & Co., of Magness, in today's paper. This is a good, reliable firm and will treat you right. For Sale.-Nice home of ten acres, between Newark and Magness; good five-room house, good large log barn, fine well of water, good smokehouse and small orchard. Will be sold at a bargain. Apply to Henderson Real Estate Company. Claude H. Hogan, cashier of the Independence County Bank returned Monday morning from New York, after an absence of four weeks. He suffered an attack there from appendicitis, and was quite sick on the way home, but is much better now.-Batesville Guard. The city council held its regular monthly meeting Monday night, but transacted no business of importance except to pass an ordinance providing for the collection of an occupation tax to assist in maintaining a night marshal. The complete ordinance will be found in another column. The claims of the depositors of the defunct Bank of Newport, represented by Senator Clarke, total ing about $108,000, will be settled on a compromise basis of 42 per cent net, which, with the 18 per cent paid by the receivers some time ago, makes a net total of 60 cents on the dollar. The Journal received a cotton bloom through the mail Wednesday from our old friend. J. H. Murphy, who lives near Hope. He writes that crops are three weeks late in his county (Hempstead) and of poor stands generally, but in good growing condition. He says the crops will be 50 per cent short. with favorable weather until made and gathered, but says they expect to get 20 to 30 cents a pound for their cotton this fall. Rev. Will Hockaday, a former traveling man, preached to a
16.
July 11, 1907
Woodruff County News
McCrory, AR
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# Will Pay 60 Per Cent.
The claims of the depositors of the Bank of Newport, represented by Senator Clarke, totaling about $108,000, will be settled on a compromise basis of 42 per cent net, which with the 18 per cent net divided paid out by the receivers, makes a total of 60 cents on the dollar.
17.
March 20, 1908
The Newark Journal
Newark, AR
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IN HANDS OF RECEIVER Newport, March 17.-The PondDecker Manufacturing Company, owners of the electric light plant and the real property upon which the Newport Stave Company is operating its plant, was placed in the hands of Charles G. Henry as receiver today by order of Chancellor George Humphries of Salem. The assets and liabilities of the company are not yet known, but there are many heavy outstanding claims dating from several years prior to the failure of the Bank of Newport. A receiver was asked for by the American National bank of Fort Smith, represented by Gustave Jones. The amount of their claim is about $3,500. The president of the company, George W. Decker, was formerly president of the Bank of Newport, which failed about two years ago.