Bank of Stephens - Stephens, AR

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: December 30, 1930
Location: Stephens, Arkansas (33.411, -93.070)

Metadata

Model: gpt-5-mini
Short Digest: 17515743

Response Measures

None

Description

The Bank of Stephens was reported closed at the end of December 1930 and then reported reopened on 1931-01-08 after reorganization and new financing. The articles do not describe a depositor run specifically on this bank; closure appears to be an administrative/state action and the bank subsequently resumed operations.

Events (2)

1. December 30, 1930 Suspension

Cause: Government Action
Cause Details: Notified state banking authorities / bank closed and taken in charge by state banking department (context: commissioner involvement noted in article about nearby bank closures).
Newspaper Excerpt: Bank of Stephens Also Was Closed
Source: newspapers

2. January 8, 1931 Reopening

Newspaper Excerpt: the Bank of Stephens at Stephen Ouachita county, which closed several days ago, reopened for bustness today following reorganization and new financing of the institution.
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. December 31, 1930 McCurtain Gazette Idabel, OK

Article from McCurtain Gazette, December 31, 1930

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Article Text

ASHDOWN'S ONLY BANK SUSPENDED Bank Commissioner Notified To Take Charge-Bank of Stephens Also Was Closed Ashdown, Ark., Dec. 30.-The First National Bank of Ashdown, closed its doors at 2 p. m., Tuesday and notified the Arkansas state bank commissioner to send examiners to take charge. Withdrawal of $78,000 in deposits within the past 60 days was asserted to be the cause of the bank's failure. "I think some plan of reorganization will be worked out," C. E. May, president, stated. "Liquidation for the benefit of remaining stockholders probably would be very slow, though our collection of paper has not been unduly difficult. "Part of the withdrawals were natural outgo, but deposits have been scant, and believe that business conditions and general hysteria accounted largely for the run." The president said he had been ill for the past week and was not in sufficient touch Tuesday to estimate the probable recovery by depositors. Hiram G. Sanderson and N. C. McCrary are vice presidents, and J. Miller Johnson, cashier. The failure leaves this city without bank. Two years ago the First National merged with the old Arkansas State Bank, retaining the former name. The First National succeeeded the Little River County Bank about 18 years ago. Its present capital stock is $50,000. Stock was distributed among about 15 or 20 owners. There was said to be a division of opinion among the latter Tuesday as to whether an attempt at reorganization would be feasible. The bank's paper was declared to be in excellent shape, having borne close serutiny by the board of directors; and it: was predicted that liquidation eventually would protect all depositors. Two Arkansas Banks Suspend Little Rock, Dec. 30.-Two banks Tuesday notified the state banking department of closing for liquidation and two others suspended for five days. The suspended banks are the Citizens Bank and Trust company, of England, and the Bank of Chidester, at Chidester. (First Published Dec. 31-Out Jan. 31, 1931) State of Oklahoma, McCurtain County, SS. IN DISTRICT COURT Maggie Loman Austin, guardian of Wilson Loman and Frank Lomon, Minors, plaintiff, W. L. Gragg, Loma Gragg and Geo. T. Arnett, defendants. NOTICE OF SHERIFF'S SALE No. 7342 Notice is hereby given that in pursuance of an Order of Sale issued out of the District Court of McCurtain County, Oklahoma, on the 31st day of December, 1930, in an action wherein Maggie Loman Austin, guardian of Wilson Loman and Frank Loman, minors, was plaintiff, and W. L. Gragg, Loma Gragg, and Geo. T. Arnett, were defendants, directed to me, the undersigned sheriff of McCurtain county, commanding me to levy upon and sell without appraisement the following described property. S½ of SW% section 7, Twp. 8 S, Range 25 East, situated in McCurtain County, Oklahoma to satisfy a judgement and decree of foreclosure in favor of said plaintiff and against said defendants, obtained and made in said court on the 21st day of March, 1930, for the sum of $1122.00 with interest thereon at per cent per annum from the 21st day of March, 1930; $90.00 attorney's fees, costs $50.00, and costs accruing. will on the 31st day of January, 1931, at the hour of 10 o'clock a. m., on said date at the front door of the court house in the city of Idabel, in said county and state, offer for sale and sell to the highest bidder for cash, the said property above described, or so much thereof as will satisfy the judgment with interest and costs. Witness my hand this the 31st day of December, 1930. CHAS. R. HOLMAN. Sheriff of McCurtain County, Oklahoma. By D. P. Willingham, Deputy. Tom Finney, Attorney. tor's prescription called Thoxin which works on an entirely differer principle from ordinary medicine It has a quick double action, it re lieves the irritation and goes dired to the internal cause. Thoxine contains no harmful drug is pleasant tasting and safe for th whole family. Guaranteed to giv better and quicker relief for cough or sore throats than anything yo have ever tried or you can have you money back. 35c, 60c, and $1.00 bo tles. Sold by Rexall Store, and other good drug stores.

3. January 8, 1931 The Daily World Helena, AR

Article from The Daily World, January 8, 1931

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Article Text

STATE CAPITOL BRIEFS Farley of Union county. father of 13 living children who were ported to be in destitute um stances, was released today from the state penitentiary "where he was serving a sentence of one year for violating the prohibition law He was released on an indefinite furlough, issued by Governor Parnell The prisoner gained his freedom upon recommendations of citizens of Union county. who represented that the children need their father's support and have been in need of food and clothing several weeks. Farley was convicted last December The governor also granted indefinite furloughs to James T. Wilson of Mississippi county. serving two years for forgery. and to W. D Brown, sentenced from Jackson county to four years for robbery Walter E. Taylor. state banking commissioner. was advised that the Bank of Stephens at Stephen Ouachita county. which closed sev eral days ago, reopened for bustness today following reorganization and new financing of the institution. The Bank of Lowell at Lowell, Benton county, closed today and was taken in charge by the state banking department. Routine business relating to the operation of the institution. approval of the financial report of Superintendent Brown for the past