562. Bank of Pollard (Pollard, AR)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 18, 1930
Location
Pollard, Arkansas (36.431, -90.268)

Metadata

Model
gpt-5-mini
Short Digest
d311819a

Response Measures

None

Description

The Bank of Pollard was among four small Arkansas banks 'taken in charge by the state banking department' (articles list taken over for liquidation). The closures followed the suspension/closing of the American Exchange Trust Company and broader state-wide suspensions due to 'public hysteria' after that failure. No explicit depositor run on Pollard is described; action was by the state banking department (government takeover/liquidation).

Events (2)
1. November 18, 1930 Receivership
Newspaper Excerpt
the Bank of Pollard... taken over by the State Banking department for liquidation.
Source
newspapers
2. November 18, 1930 Suspension
Cause
Local Banks
Cause Details
Affected by closing of the American Exchange Trust Company (statewide panic/closures following that institution's suspension).
Newspaper Excerpt
the Bank of Pollard, were taken in charge by the state banking department.
Source
newspapers

Newspaper Articles (5)
1. November 18, 1930 The Daily World Helena, AR
Article from The Daily World, November 18, 1930

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Article Text

PLANS STARTED TO REOPEN ALL OR MOST BANKS A. B. BANKS CONFERRING RAPIDLY AS POSSIBLE WITH THE LEADERS OF 49 BANKS OPTIMISM FELT Officials Declare Most of Suspended sulting, from American Exchange ever Closing Little Rock, Nov. 18.-(AP). Financial leaders struck a note of uptimlsm today as negotiations went forward for the reopening 01 most of the forty-nine banks in the state closed or suspended in the past two days Nine additional small institutions closed under a fiv. day suspension or were taken over by the state banking department today One of these was in the so-called A. B. Banks group, as were most of those closing or ceasing business temporarily yesterday after the American Exchange Trust Company, Little Rock, suspended for five days. Although the institutions are known as the A. B. Banks group Mr. Banks, the controlling stockholder in most of them. explained they are separate units and not affiliated with the American-Exchange here Mr. Banks said he was conferring as rapidly as possible with the board of the various banks. including the American-Exchange, with view to reopening within the five day period or reorganizing and reopening soon. Officials said most of the suspended banks closed as a precautionary measure because of hysteria resulting from the AmericanExchange suspension. The banks suspending today for days were the bank of at Waldo, in the A. B. Banks group, and the following independent intitutions: of Manila at Manila Lepanto, the Viola State Bank at Viola, and the Bank of Pollard, were taken in charge by the state banking department. Both were independent units. State banking department officials nearly all the suspended banks were engaged in efforts to notices were received this mornstatements House Association Mr. Banks himelf, and others. The Clearing House said all banks in Little Rock and condition and able "to meet the hanking needs of the community.' Senator Joe Robinson and Governor Harvey Parnell expresed confidence in the soundness of the state's financial structure and a hope for the cooperaiton of the public with the banks & banks with Referring to the which he is associated, Mr. Banks, said he knew the people of these towns are gravely interested to know when the banks will be re"That will be determined," he added, "by the local boards with whom I am conferring as rapidly as possible As soon as they asthemselves by supand porting otherwise that capital or they are the of free from danger run, they will resume normal "In Little Rock the executive committee of the American-Exchange Trust Company is working on the problem but as yet has reported no plan

2. November 19, 1930 Paragould Soliphone Paragould, AR
Article from Paragould Soliphone, November 19, 1930

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Article Text

MANY ARE NEAR HERE Financial Leaders of Arkansas Strike Optimistic Plans The Press Little Rock. Nov. nancial leaders struck an timistic note today as negotiations went forward for the re-opening of most of the 52 banks in the state which have closed or have suspended business during the past Nine additional small stitutions closed under the five-day suspension law or were taken over by the State department today, one of these being in the so-called B. Banks group. Banks Makes Statement Although the institutions are known the Banks group and Mr Banks stockholder in most of them, he explained that they were separate units and unaffiliated with American Company here. Mr. Banks is conferring as rapidly possible with the various other bank boards with the view to reopening within the five-day period or reorganizing. or reopening soon. Officials said that most of the banks closed meaon of "public hysteria" following the closing of the American Exchange Trust Company yesterday The banks suspending for five days were: the Bank Waldo in the Banks group, and the following independents: People's Bank of Waldo, the Citizens State Bank Monette the Bank of Knobel and the Bank of Manila. The Bank of Leachville, the Bank of Pollard and the Bank of Lepanto taken over by the State Banking department for liquidation. Senator Joe Robinson and Govcrnor Parnell confidence in the soundness of the state's financial structure and asked for public co-operation. Rock Clearing Association issued on the soundhess of the Little Rock banks. Officers of Knobel Bank Joe Sellmyer president and Henry Sellmyer is cashier of the Bank Knobel. located Knobel, which suspended for five-day period about ten o'clock this morning.

3. November 19, 1930 The Times Shreveport, LA
Article from The Times, November 19, 1930

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Article Text

MORE BANKS IN Dearmont Named to Post Vacated Thirteen Small Institutions Are by L. S. U. Prexy Added to Suspended or Closed List Tuesday Little Rock, Ark., Nov. 18 (LP).Thirteen small Arkansas banks Tuesday were added to the list of closed suspended institutions in the state Tuesday night curtains were drawn and signs hung on 53 banks in every section of the state Of these. 45 have taken advantage of state law permitting suspension of business for five days. and eight have been taken over by the state banking department. Tuesday's suspensions, nine in number. were accounted for by officials in the same manner as those of "Closed to protect the depositors," the statements said. "We probably will reopen within five days The Viola State bank of Viola, the Bank of Lepanto. the Bank of Leachvile and the Bank of Pollard, the four institutions which were closed and taken over by the state banking department Tuesday were said in official statements. to have been affected by the closing Monday of the American Exchange Trust company of Little Rock. B. Banks. president of the American Exchange Trust company, one of the largest financial institutions in the state, Tuesday continued his conferences with boards of the out-state banks in which he holds large He reiterated his earlier reassuring statements that the small banks would reopen soon as their boards had obtained pledges from the communities. or by outside capital, against run Most officials felt any attempt to open one of the suspended banks as early as Wednesday might be met by heavy run Financial leaders agreed that difficulties of Caldwell and company. Nashville, Tenn., bankers. who were placed in the hands of a receiver last week, were responsible for the wave of financial hysteria. In few days after Caldwell and company receivership. more than $4,000,000 was withdrawn from the American Exchange Trust company. Senator Joseph T. Robinson pointed out. Lafayette, Nov. 18 (P).-Dr. W. S. Dearmont, professor of psychology and education at Southwestern Louisiana institute here, has been named by Dr. E. L. Stephens, president of Southwestern, as dean of the college of education subject to ratification by the state board of education. Doctor Dearmont succeeds Dean J. M Smith who has been elected president of Louisiana State university Both Doctor Smith and Doctor Dearmont have taken up their new duties. Doctor Dearmont has been connected with Southwestern since 1922.

4. November 19, 1930 The Montana Standard Butte, MT
Article from The Montana Standard, November 19, 1930

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Article Text

MORE ARKANSAS Institutions Take Advantage of State Law to Recoup Finances. LITTLE ROCK, Ark., Nov. 18.(UP)-Thirteen small Arkansas banks today were added to the list of closed or suspended institutions in the state. Tonight curtains were drawn and signs hung on 53 banks in every section of the state. Of these, 45 have taken advantage of state law permitting suspension of business for five days, and eight have been taken over by the state banking department. Today's suspensions, nine in number, were accounted for by officials in the same manner as those of yesterday. "Closed to protect the depositors.' the statements said. "We probably will reopen within five days.' The State bank of Viola, the Bank of Pepanto, the Bank of and the Bank of Pollard, the four institutions which were closed and taken over by the state banking department today were said, in official statements, to have been affected by the closing yesterday of the American Exchange Trust company of Little Rock. A. B. Banks, president of the American Exchange Trust company. one of the largest financial institutions in the today continued his conferences with of the out-state banks ests. in which he holds large interHe reteirated his earlier reassuring statements that the small banks would reopen as soon as their boards had obtained pledges from the communitles, run. or by outside capital, against a Most officials felt any attempt to open one of the suspended banks early heavy as tomorrow might be met by a run. Financial leaders agreed that difficulties of Caldwell and company, Nashville, Tenn., bankers, who were placed in the hands of receiver last week, were responsible for the wave of financial hysteria. In & few days after Caldwell and more than $4,000,000 was withdrawn from the American Exchange Trust company, Benator Joseph T. Robinson pointed out. or 45 picture theaters in Edinburgh, Scotland, and suburbs, 20 have talking pictures.

5. November 19, 1930 El Paso Times El Paso, TX
Article from El Paso Times, November 19, 1930

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Article Text

ADDITIONAL BANKS CLOSE 53 Financial Houses in Arkansas Now Shut. Little Rock, Ark., Nov. 18 (UP).Thirteen small Arknasas banks today were added to the list of closed or suspended institutions in the state. Tonight curtains were drawn and signs hung on 53 banks in every section of the state. Of these, 45 have taken advantage " state law permitting suspension of business for five days, and eight have been taken over by the state banking department. Today's suspensions, nine in number, were accounted for by officials in the same manner as those of yesterday. "Closed to protect the depositors," the statements said "We probably will reopen within five days." The State bank of Viola, the Bank if Lepanto. the Bank of Leachville and the Bank of Pollard. the four institutions which were closed and taken over by the state banking department today were said, in official statements, to have been affected by the closing yesterday of the American Exchange Trust Co. of Little Rock. Most officials felt any attempt to pen one of the suspended banks as early as tomorrow might be met by heavy run. Financial leaders agreed that difficulties of Caldwell & Co., Nashville, Tenn., investment bankers, who were placed in the hands of a receiver last week, were responsible for the wave of financial hysteria.