International Bank - Nogales, AZ

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: *
Location: Nogales, Arizona (31.340, -110.934)

Metadata

Model: gpt-5-mini
Short Digest: dfae42b4

Response Measures

None

Description

Article (The Oasis, 1911-01-07) recounts a prior failure of the International Bank in Nogales: officers Dessart and Swain 'wrecked' the bank, Judge Davis appointed Fred Herrera as receiver, and depositors recovered only about 5%. This describes a bank failure with a receiver assigned (closure). No explicit contemporaneous run is described in the excerpt. Date of the failure is not given in the article; recorded as prior to 1911. Bank type not specified in text.

Events (1)

1. * Receivership

Newspaper Excerpt: You recollect when John Dessart and L. F. Swain wrecked the International Bank? Well at that time Judge Davis appointed Fred Herrera receiver ... until depositors got only five per cent of their money.
Source: newspapers

Newspaper Articles (1)

1. January 7, 1911 The Oasis Arizola, Benson, Nogales, AZ

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Article Text

THE OASIS" ARGUMENT COUNTERED. One day this week THE OASIS editor met an old friend whom he has known intimately ever since he came to Nogales, an old line republican who usually follows his party through thick and thin, who said: "I have read the proposed constitution for Arizona, and I think it is a pretty good instrument; and as I want to see Arizona a state I shall vote for it." The editor advanced his objection to the provision whichextends the recall to the judiciary. Whereupon the old line republican said: "Now I read your argument against the recall last week, and I consider it a very clear presenta tion of the case from one point of view. Let me give you a statement from another point of view. You recollect when John Dessart and L. F. Swain wrecked the International Bank? Well at that time Judge Davis appointed Fred Her rera receiver at $10 per day, and kept him in the place until that per diem and legal fees in useless and unnecessary suits against insolvent people who had borrowed money from the bank absorbed all the assets that Dessart did not take until depositors got only five per cent of their money. Then beside that when a grand jury was called in regular term of court. with Dessart and Swain pres ent for appearance, Judge Davis took fright over a faked small pox scare in the jail, dismissed the grand jury, permitted Dessart and Swain to go on bonds that were no good; and they have never been brought to justice. You recollect all of that don't you? Well, then had Arizona been a state at tha time, with a constitution like the one now before her people, Judge Davis would have been recalled 8