International Bank of Nogales

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 1, 1904*
Location: Nogales, Arizona (31.340, -110.934)

Metadata

Model: gpt-5-mini
Short Digest: f06c8c69

Response Measures

None

Description

The articles describe a bank failure in 1904 (insolvency) with a receiver appointed; in Dec 1908 the receiver paid a final 6.5% dividend and the receivership was to be closed. There is no mention of a depositor run or a temporary suspension/reopening — this is a failure followed by receivership and closure. Bank type not explicit from the name, so set to unknown.

Events (2)

1. January 1, 1904* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank failed in 1904 from insolvency/losses of about $160,000; practically no assets beyond litigation proceeds.
Newspaper Excerpt: It will be remembered that this failure of 1904 was the worst on record, the bank failing to the amount of $160,000 and leaving practically no assets except what was covered by litigation.
Source: newspapers

2. December 11, 1908 Receivership

Newspaper Excerpt: Fred Herrera, receiver of the International bank of Nogales, has filed his sixth report... Six and one-half per cent dividends were paid by the receiver, which exhausts all the funds on hand, and the receivership will soon be closed.
Source: newspapers

Newspaper Articles (3)

1. December 11, 1908 Daily Arizona Silver Belt Globe, Miami, AZ

Article from Daily Arizona Silver Belt, December 11, 1908

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Article Text

Small Dividends Paid Fred Herrera, receiver of the International bank of Nogales, has filed his sixth report, and the court set the amount of his compensation and also that of Mr. Selim M. Franklin, his attorney. It will be remembered that this failure of 1904 was the wort failure on record, the bank failing to the amount of $160,000 and leaving practi cally no assets except what was covered by litigation. Six and one-half per cent dividends were paid by the receiver, which exhausts all the funds on hand, and the receivership will soon be closed.

2. December 12, 1908 Bisbee Daily Review Bisbee, AZ

Article from Bisbee Daily Review, December 12, 1908

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Article Text

TERRITORIAL AND COUNTY NEWS NIX TEACHER GLOBE API TERRITORIAL M'CUTCHEON REPORTS ON TRIP NOTES GUILTY OF ASSAULT CLAWSO THROUGH THIS RICH SECTION Veteran Give An Unruly Girl Student Frank Herrera, receiver of the In ternational Bank of Nogales, is preOutcome of Whipping Considered paring to wind up the affairs of the J. W. McCutcheon, who was in Ari- The Hachita, Freemont and other Too Severe. bank. It failed to the amount of gan St districts in that vicinity are actually zona recently, representing the El Paso $160,000 and has paid only 6 1-2 per producers with comparatively little exTimes, kept his eyes open and saw cent of the loss. NNW the the many opportunities for the future penditure. Couth .

3. December 13, 1908 Tombstone Epitaph Tombstone, AZ

Article from Tombstone Epitaph, December 13, 1908

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Article Text

RECEIVERSHIP CLOSED Six and One-Half Per Cent Is All That Creditors of International Bank of Nogales. Ariz.. Receive. Fred Herrera, receiver of the International bank of Nogales, has filed his 6th report, and the court set the amount of his compensation and airo that of Mr Selim M Franklin, hir attorney, It will be remembered that this failure of 1904 was the worst on record, the bank failing to the amount of $160,000 and leaving practically no assets except what was covered by litigation. Six and one half per cent dividends were paid by the receiver, which exhausts all the funds on ha nd R . and the receivership will soon be closed.