592. Victoria Bank (Strong, AR)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
November 17, 1930
Location
Strong, Arkansas (33.108, -92.335)

Metadata

Model
gpt-5-mini
Short Digest
0d3f1409

Response Measures

None

Description

Multiple contemporaneous newspapers report Cleveland County Bank (Kingsland, AR) was one of ~30 Arkansas banks that 'suspended business temporarily' and 'will reopen in five days' on Nov 17, 1930. The closing was a precautionary, coordinated suspension by A. B. Banks interests after the American Exchange Trust/Exchange Trust action; no firm evidence of a depositor run on this specific bank is given. Classified as suspension with reopening (no run).

Events (1)
1. November 17, 1930 Suspension
Cause Details
Coordinated, precautionary five-day suspension ordered by A. B. Banks/affiliated company to protect depositors after panicky conditions and suspension of the Exchange Trust; not described as government closure or liquidation.
Newspaper Excerpt
Thirty-two banks in which B. Banks, Arkansas financier, is interested, temporarily suspended business this morning, with announcements being made to the effect that they would reopen for-business after five days. ... Cleveland County Bank; Kingsland
Source
newspapers

Newspaper Articles (3)
1. November 17, 1930 Jonesboro Daily Tribune Jonesboro, AR
Article from Jonesboro Daily Tribune, November 17, 1930

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Article Text

BANKS CLOSED TEMPORARILY STATE CITIES Number of Banks Chain Suspend Business Today In Order to Protect Interest of Depositors. Will Open in Five Days After Precautionary Steps Taken. Thirty-two banks in which B. Banks, Arkansas financier, is interested, temporarily suspended business this morning, with announcements being made to the effect that they would reopen for-business after five days. Capitalists viewed the closing of the banks with little alarm, expressing the belief that the banks are all absolutely solvent and that their temporary closing is for the protection of depositors and to avoid runs that might have resulted from the present panicky condition of the state, Fortunately, no Jonesboro banking interests were in any way connected with any of the banks that closed. according to statements made this morning. The following United Press dis patch tells of the temporary closing of the banks: LITTLE ROCK, Ark., Nov. 17.The following banks in which A. B. Banks company is interested suspended business temporarily this morning: 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; Farmers Bank, Dardanelle; Eudora Bank and Trust Company, Eudora: Hampton State Bank, Hampton: Cleburne County Bank, Heber Springs; Merchants and Planters Bank, Henlena; Arkansas Bank and Trust Company, Hope; Bank of Houston, Houston Merchants and Planters Bank, Humphreys, First National Bank, Junction City: Merchants and Farmers Bank, Junction City: Cleveland County Bank; Kingsland, Chicot Trust Company, Lake Village; American Exchange and Trust Company, Little Rock; First State Bank, Osceola: Bank of Pangburn, Pangburn; Perry State Bank, Perry: Merchants and Planters Bank and Trust Company, Pine Bluff: Victoria Bank, Strong: First State Bank, Thornton, Bank of Wabsseka, Wabaseka: Grant County Bank, Sheridan; Exchange Bank and Trust Company, Dermott, Bank of Fordyce, Fordyce; Exchange Bank of Dermott. and Sheridan, clased at noon, due to heavy runs this morning.

2. 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.

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.