Merchants & Planters Bank - Pine Bluff, AR

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: *
Location: Pine Bluff, Arkansas (34.228, -92.003)

Metadata

Model: gpt-5-mini
Short Digest: e6e7f38e

Response Measures

None

Description

The article (Jan 29 1932) states the banks of Altheimer and Wabbaseka have been closed for more than a year and are in the process of liquidation, indicating suspension followed by receivership/closure. No run is mentioned. Exact suspension/receivership dates are not given in the excerpt.

Events (2)

1. * Receivership

Newspaper Excerpt: In the state of Arkansas there are some 190 small banks closed, and in the process of liquidation. When these banks began popping, potential receivers began circling like buzzards on the trail of a fallen prey. ... Although they have been closed for more than a year, no dividend has been paid.
Source: newspapers

2. * Suspension

Cause: Voluntary Liquidation
Cause Details: Bank is closed and in the process of liquidation; deposits tied up and no dividends paid.
Newspaper Excerpt: The banks of Altheimer and Wabbaseka are good illustrations of what the depositors of the small banks can expect. Although they have been closed for more than a year, no dividend has been paid.
Source: newspapers

Newspaper Articles (1)

1. January 29, 1932 The Indianapolis Times Indianapolis, IN

Article from The Indianapolis Times, January 29, 1932

Click image to open full size in new tab

Article Text

Too Many Receivers (From the Pine Bluff (Ark.) Commercial) In the state of Arkansas there are some 190 small banks closed, and in the process of liquidation. The greatest amount of good to the greatest number of people in this tragic instance could be achieved by eliminating unnecessary waste and extravagance in the liquidation of these small banks. When these banks began popping, potential "receivers" began circling like buzzards on the trail of a fallen prey. Instead of organizing our banking department to meet the emergency, by creating a central receiver to handle all of them, they were handed out one and two at a time, and the cost of liquidation will consume a large part of the deposits. It is not too late now to bring about a few reforms in the liquidation of these small banks, by zoning the state and consolidating the receiverships. J. E. Williams, receiver for the Merchants and Planters bank here, who has shown a good record, informs us that he could have liquidated a dozen small banks from headquarters in Pine Bluff at the same time. The banks of Altheimer and Wabbaseka are good illustrations of what the depositors of the small banks can expect. Although they have been closed for more than a year, no dividend has been paid. And the same is true of other small banks in the state. We don't say the cost of liquidating these banks is too high. But we do say the depositors of these banks are entitled to something and would have received a fair dividend had the banks been grouped under one receivership, along with others in this section of the state. If the cost of liquidating banks continues to eat up the assets, then it would be better to abandon any further attempts at liquidation. If what is due the depositors is going to be paid receivers and special attorneys, then it would be better to wipe the slate clean.