Bank of Wynne - Wynne, AR

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 27, 1914
Location: Wynne, Arkansas (35.225, -90.787)

Metadata

Model: gpt-5-mini
Short Digest: 6b534c41

Response Measures

None

Description

Contemporary articles report the Bank of Wynne closed last Saturday and that the state bank commissioner appointed the former cashier as special deputy to liquidate the bank's affairs. The closure is attributed to the bank's connection/financial relations with the Bankers' Trust Company of St. Louis, which appears to have caused losses. No article describes a depositor run on the Bank of Wynne itself (other banks mobilized precautionary funds), and a receiver/special agent was appointed, so this is classified as a suspension leading to closure/receivership. Dates taken from articles: appointment reported July 27, 1914.

Events (2)

1. July 27, 1914 Receivership

Newspaper Excerpt: Bank of Wynne, Wynne, Ark., in the hands of a special agent of the State Bank Commissioner, ... Leen W. Quick, who was appointed receiver for the Bankers' Trust Company, ... report states ... Bank of Wynne ... in the hands of a special agent of the State Bank Commissioner, and State National Bank of Little Rock, Ark., in process of liquidation ...
Source: newspapers

2. July 27, 1914 Suspension

Cause: Correspondent
Cause Details: Bank's inability to continue was caused by its connection/financial relations with the Bankers' Trust Company of St. Louis, which had losses and was placed in receivership.
Newspaper Excerpt: J. S. Carpenter, who was cashier of the Bank of Wynne, which closed last Saturday, has been appointed by State Bank Commissioner Davis as special deputy commissioner to liquidate the affairs of the bank.
Source: newspapers

Newspaper Articles (3)

1. July 29, 1914 Pine Bluff Daily Graphic Pine Bluff, AR

Article from Pine Bluff Daily Graphic, July 29, 1914

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Article Text

CASHIER OF CLOSED BANK IS RECEIVER At Request of Patrons of Bank of Wynne, Cashier Carpenter Placed in Charge. Little Rock, July 27.-J. S. Carpenter, who was cashier of the Bank of Wynne, which closed last Saturday, has been appointed by State Bank Commissioner Davis as special deputy commissioner to liquidate the affairs of the bank. This is the first time the cashier of a bank has been appointed to such a position, but it was found that the people of Wynne have confidence in the officials of the bank, and the appointment gives general satisfaction. It is probable that arrangements will be made for a reorganization. The assets are about $114,000, the deposits $76,000, and the capital stock $25,000. The bank's inability to continue was caused, according to Mr. Davis, by its connection with the Bankers' Trust company of St. Louis, with which a number of Arkansas banks have financial relations. Through the efforts of the bank department the bank of Wynne was recently able to realize on over $30,000 of its Bankers' Trust Co. assets. It is generally believed that with judicious handling of the assets, the depositors will be paid in full.

2. July 31, 1914 The Forrest City Times Forrest City, AR

Article from The Forrest City Times, July 31, 1914

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Article Text

Goes to Rescue. When news reached this city of the failure of the Bank of Wynne, the Bank of Eastern Arkansas went nobly to the rescue of the Cross County Bank in case there should have been a run made on it, and Assistant Cashier Campbell took the first train for that city carrying with him about a "peck of money," which was placed at the disposal of the Cross county Bank. That was a neighborly thing to do, and the officers of the Cross County Bank fully appreciated the kindness. A letter from its president to President Fussell, of the local institution, acknowledges the courtesy and returns thanks on the part of the stockholders and officers of the Cross County Bank. He further stated that the situation there is now normal and that their Bank is opening new accounts, sustained very few withdrawals, and its business is moving along about as usual, and the same as though there had been no failure.;

3. October 7, 1914 Corpus Christi Caller and Daily Herald Corpus Christi, TX

Article from Corpus Christi Caller and Daily Herald, October 7, 1914

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Article Text

ST. LOUIS BACKERS OF TEXAS RAILROAD ARE WITHOUT CASH REPORT SHOWS BANKERS TRUST CO. MADE INVESTMENTS IN ARKANSAS. ST. LOUIS. Oct. 0.-Leen W. Quick. who was appointed receiver for the Bankers' Trust Company, which was the chief backer of the San Antonio, Uvalde & Gulf. last Tuesday, made a report today to Circuit Judge MeQuilin stating that the books of the company show direct liabilities of $1,336,740.97, with 8789 cash on hand. which has been seized by the United States revenue collector and therefore is not available top use The report states "the following companies and institutions, in which the Bankers' Trust Company is financially interested are in the hands of receivers or liquidators: San Antonio, Uvalde & Gulf Railroad Company, in the hands of receivers appointed by the United States District Court sitting in San Antonio: Cross 8 Farming Company, receiver appointed by the court of Bexar county: Bank of Wynne, Wynne, Ark., in the hands of a special agent of the State Bank Commissioner, and State National Bank of Little Rock, Ark., in process of liquida tion, under the direction of the Comp(roller of the Currency. "The books show the ownership of several tracts of real estate for which no deeds of abstracts of title are in the office of the company." Litigation pending includes suit by the city collector of St Louis against the Bankers' Company for $18,639 78 taxes in land controversy involving some 14.000 acres of land in Mississippi county, Arkansas, and against the company in Bexar county, Texas, for $11,000 by an attorney on a claim for fees,