Nogales Building & Loan Association

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 1, 1932*
Location: Nogales, Arizona (31.340, -110.934)

Metadata

Model: gpt-5-mini
Short Digest: a321c526

Response Measures

None

Description

Article reports the building & loan went into receivership about six years earlier and its assets were sold by the state superintendent of banks in October 1938. No run is mentioned. OCR errors in the clipping corrected (e.g., purchaser Harry Ransom, sealed bids Oct 10).

Events (3)

1. January 1, 1932* Suspension

Cause: Government Action
Cause Details: Entered receivership approximately six years before 1938 (state superintendent involvement).
Newspaper Excerpt: The building and loan association went into the hands of a receiver about six years ago.
Source: newspapers

2. October 10, 1938 Receivership

Newspaper Excerpt: Sealed bids were received up to 5 p. m. October 10th at the office of the superintendent of banks. For the sum of $8,010.00, Harry Ransom of Tucson bought all of the assets of the Nogales Building & Loan Association here Thursday. The assets, totaling as worth $53,391.88, were divided as follows: ... . The building and loan association went into the hands of a receiver about six years ago. (Article published 1938-10-15.) Harry Ransom was the highest bidder. Assets ... were sold by the State Superintendent of Banks. (Extracted from clipping.) Note: OCR errors corrected where obvious (e.g., purchaser name and amounts).
Source: newspapers

3. October 15, 1938 Other

Newspaper Excerpt: Assets Of Building And Loan Association Bought By Tucsonan ... The assets, totaling as worth $53,391.88, were divided as follows: Real estate (book value) $27,232.34, ... sealed bids were received up to 5 p. m. October 10th at the office of the superintendent of banks.
Source: newspapers

Newspaper Articles (1)

1. October 15, 1938 Nogales International Nogales, AZ

Article from Nogales International, October 15, 1938

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Article Text

Assets Of Building And Loan Association Bought By Tucsonan For the sum of $8,010.00, Harry real estate loans $3,729.72, contracts Ransom of Tucson bought all of $10,983.00; accounts receivable the assets of the Estate of the No$591.08; judgements against individuals $5,851.29; notes receivable $3,gales Building & Loan Association here Thursday. 922.16; furniture and fixtures State Superintendent of Banks $485.04, interest and fines $597.25. Lloyd Thomas was here from PhoeSealed bids were received up to nix for the sale. Ransom was the 5 p. m. October 10th at the office of the superintendent of banks. highest bidder. The building and loan associaThe assets, totaling as worth $53,391.88, were divided as follows: tion went into the hands of a reReal estate (book value) $27,232.34, ceiver about six years ago.