Bank of Ulm - Ulm, AR

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: August 15, 1914
Location: Ulm, Arkansas (34.576, -91.461)

Metadata

Model: gpt-5-mini
Short Digest: 47c4d1bf

Response Measures

Full suspension

Other: Robbery triggered withdrawals; receiver later appointed.

Description

Bank was robbed in mid-August 1914, which precipitated a run and temporary closure (Aug 15). Within days/weeks the bank was declared insolvent and a receiver appointed (Aug 26, 1914). OCR corrected minor date references (articles report robbery on Aug 11; closure reported Aug 15; receiver appointed Aug 26).

Events (3)

1. August 15, 1914 Run

Cause: Bank Specific Adverse Info
Cause Details: Daylight robbery of the vaults (initially reported ~$1,200, later audit showed $3,000 taken) sparked depositor withdrawals.
Measures: Bank officers announced temporary closing to adjust business; failed to open for business while books/audit and investigation proceeded.
Newspaper Excerpt: Run Was Started After Robbers Had Looted the Vaults. ... the Bank of Ulm ... closed its doors today. Officials in a statement said the closing is only temporary, and that it was caused by the robbery and a run of depositors, which started yesterday.
Source: newspapers

2. August 15, 1914 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Temporary suspension of payments/operations following the robbery and resulting run; low cash on hand relative to deposits reported ($211.14 cash on hand vs $13,000 deposits).
Newspaper Excerpt: The Bank of Ulm ... failed to open for business this morning. The officers of the bank in their statement say that it is closed temporarily only, to allow them to adjust their business, when it will again be opened for business.
Source: newspapers

3. August 26, 1914 Receivership

Newspaper Excerpt: The Bank of Ulm ... has been declared insolvent by the bank commissioner, and L. G. Selig ... has been appointed receiver. ... it is understood ... that the deposits amount to $13,000 and that the assets will hardly pay 50 per cent of the amount.
Source: newspapers

Newspaper Articles (3)

1. August 16, 1914 Tulsa Daily World Tulsa, OK

Article from Tulsa Daily World, August 16, 1914

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Article Text

ROBBED BANK IS CLOSED Run Was Started After Robbers Had Looted the Vaults. LITTLE ROCK Ark., Aug. 15.-The Bank of Ulm, at Ulm, Ark., which was the victim of a daylight robbery Tuesday, closed its doors today. Officials in a statement said the closing is only temporary, and that it was caused by the robbery and a run of depositors, which started yesterday. It was at first announced that the robbers secured about $1,200. Later it was announced that an audit of the bank showed the amount taken to be $3,000.

2. August 16, 1914 Pine Bluff Daily Graphic Pine Bluff, AR

Article from Pine Bluff Daily Graphic, August 16, 1914

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Article Text

BANK OF ULM, ROBBED OF $2000, CLOSES DOORS Officers Say Suspension Is Temporary Only-No Arrests Made. Stuttgart, Aug. 15.-The Bank of Ulm, which was robbed on the evening of the 11th inst. by two men, failed to open for business this morning. The officers of the bank in their statement say that it is closed temporarily only, to allow them to adjust their business, when it will again be opened for business. The detectives who are working on the case, were in this city last night working on a clew but learned that their man had left here for Little Rock or Hot Springs early yesterday morning. They state that they are sure of the right parties, and that arrests will follow within a day or two. At a late hour tonight no arrests had been made. Local officers stated they were unable to say if there were other suspects than the man followed here or not. It was stated that the books of the institution show deposits amounting to $13,000, with cash on hanad of $211.14.

3. August 27, 1914 Pine Bluff Daily Graphic Pine Bluff, AR

Article from Pine Bluff Daily Graphic, August 27, 1914

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Article Text

BANK OF ULM IS NOW INSOLVENT Stuttgart Bank Appointed Receiver for Institution Recently Robbed. Stuttgart, Aug. 26.-The Bank of Jlm, which it was claimed was robbed by daylight robbers on the afternoon of August 6, has been declared insolvent by the bank commissioner, and L. G. Selig, assistant cashier of the Exchange bank of this city has been appointed receiver. Mr. Selig went to Ulm today to Investigate conditions, but will not give out any statement as to the assets and liabilities of the bank. It is understood, on good authority, however, that the deposits amount to $13,000 and that the assets will hardly pay 50 per cent of the amount. Martin Kroff, who was arrested at Marshall charged with forgery in connection to a note sent there by the bank commissioner from the Bank of Ulm for collection, was vice president of the defunct institution, and it is claimed owed the bank $7,600.00 when its doore closed, but this statement the received will neither deny or affirm, simply stating that he has no information to give out at this time.