587. Bank of Star City (Star City, AR)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
November 17, 1930
Location
Star City, Arkansas (33.943, -91.843)

Metadata

Model
gpt-5-mini
Short Digest
e19be506

Response Measures

None

Description

The Bank of Star City is listed among ~30 Arkansas banks that 'suspended business today for five days' by action announced Nov 17, 1930. The suspension was a temporary, department-authorized five-day close (to be reopened), with no specific run on this bank described in the articles.

Events (1)
1. November 17, 1930 Suspension
Cause
Government Action
Cause Details
State banking department/company announced temporary five-day suspension of payments for affiliated Banks Company institutions; ordered/authorized closing to conserve assets and reopen after five days per Arkansas provision for temporary closings.
Newspaper Excerpt
The bank of Altheimer... Merchants Planters Company, Pine Bluff: Bank of Star City, Star City: ... suspended business today for five days
Source
newspapers

Newspaper Articles (3)
1. November 17, 1930 New Britain Herald New Britain, CT
Article from New Britain Herald, November 17, 1930

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Article Text

THIRTY ARKANSAS BANKS CLOSED 5 DAYS BY ORDERS (Continued From First Page) could have forced the closing of this strong bank." Soon after Caldwell & Company was placed in receivership, Mr. Banks anounced the Caldwell & Company's interest in the American Exchange Trust Company had been bought by Little Rock capitalists. The Pine Bluff bank was the second largest in the group and the Helena institution the third largest Banks was a director and a former president of the bank. The American Exchange Trust Company in Little Rock had deposits of approximately $15,000,000 OD September 24, the date of the last bank call. The Pine Bluff bank on September 24 had deposits of approximately $2,638,000 and the Helena bank at the close of business Saturday had deposits of $726,000. officials said. List of Institutions The banks in which Mr. Banks and assistants are interested and which suspended business today for five days were announced by the company as follows: The bank of Altheimer, Altheimer: North Arkansas Bank. Batesville; Bank of Bauxite, Bauxite; Benton Bank and Trust Company, Benton: Arkansas State Bank, Carlisle; Bank of Carthage, Carthage; Farmers Bank, Casa: Bank of Clarendon, Clarendon: Farmers Bank, Dardanelle: Hampton State Bank, Hamnton: Cleburne County Bank. Heber Springs: Merchants and Planters Bank, Helena; Bank of Houston, Houston: Merchants and Planters Bank, Hunphrey: Cleveland County Bank. Kingsland; Chicot Trust Company, Lake Village: AmericanExchange Trust Company, Little Rock: First State Bank, Morrilton: Arkansas Trust Company, Newport: Bank of Pangburn. Pangburn: Perry State Bank, Perry: Merchants and Planters Bank and Trust Company, Pine Bluff: Bank of Star City, Star City: Victoria Bank, Strong: First State Bank. Stuttgart: Citizens Bank Thornton. and Bank of Wabbaseka Wabbaseka; The Arkansas Bank and Trust Co., Hope: Peoples Bank McRea: and the Endora Bank and Trust Co., Endora. The following banks affiliated with the A. B. Banks and Company remained open for business, the company announced: The Bank of Fordyce and the First National Bank, Fordyce; Bank of Harrisburg, Harrisburg: First National Bank, Mineral Springs: Bank of Stephens, Stephens, and Bank of Waldo, Waldo. Efforts were being made at Junction City to merge the first National Bank and the Merchants and Farmers Bank. and open one of them today, officials said.

2. November 17, 1930 News-Record Neenah, WI
Article from News-Record, November 17, 1930

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Article Text

PROTECT DEPOSITORS Kentucky, Arkansas Affected United Paul Keyes receiver to date the affairs of the national Bank of Kentucky at Louisville today by Comptrolof the Currency John W. Pole. The Louisville bank suspended operations today when its directors voted turn its affairs comptroller of the Keyes veteran member of the comptroller's staff. Louisivlle, Louisville Security bank and the American Mutual Savings bank, the latter negro-owned operated, closed today after the National Bank of Kentucky and the Louisville Trust company failed to open for business. The Security bank was affiliated with the National bank which was taken over by the federal comptroller of currency. The negro bank was affiliated with the Trust company which was placed in the hands of the state banking commissioner. The four banks combined aggregatin All of the institutions were declarsolvent, but that sary to close them conserve the and protect cerditors, positors and all others concerned. Jefferson City, northMissouri banking closed their doors today rect result failure last the State Savings Loan Trust company of Quincy, Ill. All the institutions had deposittheir surplus funds the nois bank, and were forced to close their doors to protect depositors. Little Rock, AmeriExchange Trust company Little Rock, of which Banks president, and 15 banks affiliated with the Banks company, closed today, the state banking partment announced today. The action was taken, plained, under an Arkansas permitting bank to close rarily for period of five days, after which it must be reopened placed the hands of the state banking department. Springfield, Illinois banks the number of failures in the state since Friday to five. The Bartlett and Wallace State bank, Clayton, and the Timewell State bank, Timewell, were closed today, State Auditor Oscar Nelson announced. All the closings were in tion with the failure of the State Savings Loan and Trust company, Quincy, of which the Timewell and Clayton institutions respondents. The Timewell bank deposits of $150,000 and the Clayton bank $500,000. Pine Bluff, Merchants Bank and Trust comPine Bluffs, and Smaller banking institutions in southeastern Arkansas, failed open their doors today. The smaller instituions Bank of Star City, Bank of Altheimer, Eudora Bank Trust company, the Bank of Wabbaseka, First State bank of Stuttgart, ChiTrust company of Lake Village, and the Merchants and Planters bank of Humphreys. Helena, Merchants Planters bank of Helena, closed today. Officials announced they regarded the institution solvent but closing to protect itors. Louisville, national bank Kentucky, capitalized and affiliated bank, the Louisville Trust Company, failed today and the taken by national bank examiner. notice posted by the board directors and signed Russell Mooney, national bank examiner, said national bank solvent that had been closed

3. November 17, 1930 The Birmingham News Birmingham, AL
Article from The Birmingham News, November 17, 1930

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Article Text

PAYMENTS HALTED BY 30 BANK UNITS Suspension For Five Days Announced By Houses In Arkansas Towns LITTLE ROCK. Ark., Nov. 17-(P) Banks Company announced 30 banks in Arkansas with affiliated. suspended depositors for period of five days. Eight other affiliated banks advised the Banks Company they open. The company had heard early Monday from others as to what they were taking The the board of directors the Exchange Trust of Little Rock. the largest bank in the Sun day night suspend payments and close for five days resulted in the temporary closing of the others, the announced Banks, president of the Exchange, is in the others. The banks in which Mr. Banks and are which pended for the follows Bank Altheimer, Altheimer: North Arkansas Batesville: Bank of Bauxite. Bauxite: Benton Bank Company Bank. Carlisle: Bank Carthage, Carthage: Farmers Casa Bank Clarendon, Clarendon: Farmers Hampton State Bank, HampCounty Heber Merchants Planters Bank. Bank Houston. Planters Bank, Humphrey Cleveland County Bank, Kingsland: Chicot Trust Comchange Trust Little Rock: First State Bank. Morrilton Arkansas Trust Newport: Bank Pangburn. Pangburn: State Merchants Planters Company, Pine Bluff: of Star City, Star Victoria Bank. Strong: First State Bank, Stuttgart: Citizens Bank, Thornton: Bank Wabaseka: Bank Trust Company Bank and the Eudora Bank & Trust Company, The following banks affiliated with Mr. Banks remained open for busithe company Bank Fordyce and First NationBank. Fordyce: Bank of Harrisburg. Harrisburg First National Bank, Mineral Springs Bank Stephens. Stephens, and Bank of being at Junetion to merge the First Nationand & Farmers Banks and open one them. officials said. Kentucky National Bank Is Closed By Directors National Bank placed the hands of the national examiner Monday was posted on the door of the bank shortly after "This bank under the direction the comptroller of the currency charge Russell Mooney, national examiner. Closed by order the directors Louisville Trust Company, an affiliated also has been ordered closed. The trust company directors' said that in the opinion of its officers directors the Action taken by the directors of the Bank of Kentucky was conserve the bank for the benefit of its creditors,' the ressaid National Bank of Kentucky originally known Bank Kentucky, was 1834. with capital stock of $5,000,000. advertised than $50,000,000. James B. Brown president.