1.
March 23, 1921
The Evening Herald
Albuquerque, NM
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THREE BANKS IN ARIZONA CLOSE DOORS Fourth Demands 60-Day Notice of Savings Withdrawals BY THE ASSOCIATED PRESS PHOENIX Ariz, March 23.Three Arizona banks today voluntarily closed their doors and a fourth began demanding 60 days notice of intention to withdraw savings deposits except in emergency cases The three banks which suspended business today were the Citizen's State Bank of Phoenix, the Central Bank of Wickenburg, and the Exchange Bank of Peoria, Arizona Each of these institutions was capitalized at $25,000. Method of Closing. The method of closing followed by each of these banks was very similar to that used by the Central Bank of Phoenix when it suspended business Monday morning Before time to open this morning each of the three placed a notice on the front door stating that the bank had voluntarily suspended and that its affairs were in the hands of Charles W. Fairfield, state auditor and superintendent of banks Both Mr. Fairfield and bank officials refused to make statements this morning, saying that nothing would be known regarding the condition of the banks until the state auditors had completed their work. Require Notices The Commercial National Bank of Phoenix today began requiring notice from depositors 60 days before savings accounts are withdrawn It also announced that certificates of time deposits would be paid only when due. Officials of the bank declared the institution was able to meet all demands against it. but believed 10 wise to require the notice as a precautionary measure They said that exceptions would be made in favor of depositors who showed they really needed their money immediately
2.
March 24, 1921
The Wheeling Intelligencer
Wheeling, WV
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ARIZONA BANKS CLOSE Phoenix Ariz Mar 23 Three Antz ona banks today voluntarily closed their doors and is fourth began demanding SINCE days notice of intention to with draw savings deposits except :11 emergood cases The three banks which suspended business were the Citizens' State bank of Phoenix the Central Bank of Wick enbury and the Exchange Bank of Peor11t Arizona Each was capitalized at $ 20 000 The Commercial National Bank of Phoenix today began requiring notice from depositors sixty days before sav accounts are withdrawn
3.
March 24, 1921
Bisbee Daily Review
Bisbee, AZ
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3 MORE BANKS IN STATE CLOSE PHOENIX, March 23.-Suspension of business by three Arizona banking institutions today overwhelmed the state banking department. in the of. fice of State Auditor Charles W. Fairfield, with work. The department was without enough examiners to take charge of the closed institutions so Mr. Fairfield appointed two temporary examiners. The banks closed and the men placed in charge of each were: The Citizens State Bank of Phoenix, with H. M. Moritz, deputy bank examiner in charge: the Exchange Bank of Peoria, with K. G. Freeland/ formerly assistant cashier of the Central Bank of Phoenix. in charge: and the Central Bank of Wickenburg, with E. L. Riggle in charge. The general appropriation bill passed at the last session of the legislature provides funds for two more deputy bank examiners but this. money will not be available until July first. The state has funds in all of the institutions which closed, but the money is said to be amply secured by bonds.
4.
March 25, 1921
The Copper Era and Morenci Leader
Clifton, AZ
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3 MORE BANKS IN STATE SHUT DOWN BUSINESS Phoenix, March 23,-Three Arizona banks today voluntarily closed their doors and a fourth began demanding sixty days' notice of intention to withdraw savings deposits except in emergency cases. The three banks which suspended today were the Citizens State Bank of Phoenix, the Central Bank of Wickenburg, and the Exchange Bank of Peoria, Arizona. Each of these institutions was capitalized at $25,000. The method of closing followed by each of these banks was very similar to that used by the Central bank of Phoenix when it suspended business Monday morning. Before the time to open this morning, each of the three placed a notice on the front door stating that the bank had virtually suspended and that its affairs were in the hands of Charles W. Fairfield, state auditor and superintendent of banks. Both Mr. Fairfield and bank officials refused to make statements this morning, saying that nothing would. be known regarding the condition of the banks until the state auditors had completed their work. The Commercial National bank of Phoenix today began requiring notice from depositors sixty days before savings accounts are, withdrawn. it is also announced that certificates of time deposits would be paid only when due. Officials or the bank declared the institution was able to meet all demands against it, but believed it was wise to require the notice as a precautionary measure. They said that exeptions would be made in favor of depositors who Shimmed they really needed their money immediately.
5.
March 27, 1921
Tombstone Epitaph
Tombstone, AZ
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3 MORE BANKS IN STATE CLOSE PHOENIX. March 23.-Suspension of business by three Arizona banking institutions today overwhelmed the state banking department, in the office of State Auditor Charles W. Fairfield. with work. The department was without enough examiners to take charge of the closed institutions so Mr. Fairfield appointed two temporary examiners. The banks closed and the men placed in charge of each were: The Citizens State Bank of Phoenix, with H. M. Moritz, deputy bank examiner in charge; the Exchange Bank of Peoria, with K. C. Freeland, formerly assistant cashier of the Central Bank of Phoenix, in charge; and the Central Bank of Wickenburg. with E. L. Riggle in charge. The general appropriations bill passed at the last session of the leg. islature provides funds for two more deputy bank examiners but this money will not be available until July first. The state has funds in all of the institutions which closed, but the mony is said to ze amply secured by bonds.
6.
March 30, 1921
Bisbee Daily Review
Bisbee, AZ
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PHOENIX BANK TO OPEN AGAIN Action Is Decided Upon At Meeting Of Stockholders Held Yesterday PHOENIX, March 29. Announcement was made here tonight by otficers and depositors of the Citizens State Bank of Phoenix, which voluntarily suspended operations a week ago. that the institution will reopen its doors for business the latter part of this week or the first of next. This action was decided upon at a meeting of more than 600 of the depositors this afternoon. at which a plan of operation was agreed upon. A move has also been started by officers and depositors of the Cen tral Bank of Phoenix, which voluntarily suspended March 21, to reopen that institution within the next few days. it developed at a meeting of the depositors tonight.
7.
April 1, 1921
Graham Guardian
Safford, AZ
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PEORIA AND PHOENIX BANKS TO REOPEN SOON Phoenix-Charles W. Fairfield, state superintendent of banks, last Friday, announced that plans were being worked out whereby the Citizens State Bank of Phoenix, and the Echange Bank of Peoria, both of which voluntarily suspended business Wednesday, March 23d, would be reopened in the near future. He said depositors and bank officials were cooperating in arranging for the re-openings.
8.
April 3, 1921
Tombstone Epitaph
Tombstone, AZ
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PHOENIX BANK TO REOPEN PHOENIX. March 29.-Announce ment was made here tonight by officers and depositors of the Citizens State Bank of Phoenix. which voluntarily suspended operations a week ago, that the institution will reopen its doors for business the latter part of this week or the first of next. This action was decided upon at a meeting of more than 600 of the depositors this afternoon. at which a plan of operation was agreed upon. A move has also been started by officers and depositors of the Central Bank of Phoenix, which voluntarily suspended March 2. to reopen that institution within the next few days, it developed at a meeting of the depositors tonight.
9.
April 13, 1921
Bisbee Daily Review
Bisbee, AZ
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A.B C COMPANY HOLDS ELECTION The annual meeting of the stockholders of the Arizona-Bisbee Copper company was held here yesterday afternoon and the following officers were re-elected to office: Ned Creighton of. Phoenix, president; James Letson. D. F. McGarry of Los Angeles: W. P. Kyne of San Francisco. and J. E. Murphy of Douglas, directors. Creighton who arrived here yesterday from Phoenix, reported that the company is not carrying on any development work on the property at present. Speaking of conditions in Phoenix Creighton said that both the Citizens and Peoria banks will reopen either this week or early next week, but that it is problematical whether the Central bank will reopen or go into the hands of a receiver. The success of the banks in resuming business he ascribed to a great extent to the skiliful handling of State Auditor Fairfield.
10.
April 17, 1921
Tombstone Epitaph
Tombstone, AZ
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CITIZENS' STATE BANK OF PHOENIX OPENS WEDNESDAY PHOENIX. April 13.-The Citizens' State Bank of Phoenix, which voluntarily closed its doors on March 23, will reopen for business this morning, it was announced by Cashier L. L. Steward. According to the announcement, depositors will be permitted to make withdrawals as usual There was no change in the organization of the bank. The same officers who controlled bank's affairs prior to its suspension will remain at its head, according to Mr. Stewart.
11.
April 17, 1921
Tombstone Epitaph
Tombstone, AZ
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CITIZENS' BANK AT PHOENIX IS RE-OPENED PHOENIX, April 14. - The Citizens State Bank of Phoenix, which voluntarily suspended business three weeks ago, reopened for business today. The interior of the bank was decorated with large floral offerings sent by the other banks of the city The as evidence of their good will. reopening was authorized by Charles W. Fairfield, state superintendent of banks.
12.
April 20, 1921
Arizona Republican
Phoenix, AZ
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EXCHANGE BANK OF PEORIA WILL REOPENTODAY Institution Resumes Business Just One Month After Suspension Stronger In Every Way It is Declared The Exchange bank of Peoria which voluntarily closed its doors on March 23 will reopen again this morning for business. Just one month from the day the bank decided to suspend business, it resumes banking stronger in every way than it has been for many months. The reopening of the bank is the cause of general rejoicing among the residents of Peoria who almost to an individual have stood by the institution, confident in their regard for the business ability of the officials and their belief that the bank soon would resume. Practically the same plan employed by the Citizens state bank of Phoenix in reopening that institution was used by the patrons and officials of the Peoria bank. it was onnounced by Charles W. Fairfield, superintendent C1 state banks. Practically 95 per cent of the depositors have signed an agreement to allow their deposits to remain in the bank for one year or more. They have co-operated with the state bank superintendent in every way tending toward the resumption of business which was predicted by Mr. Fairfield shortly after he examined the affairs of the institution following its closing. Steady withdrawal of deposits of the Exchange Bank of Peoria started when the Glendale bank closed its doors. It had a branch in Peoria and there was considerable uneasiness occasioned in that town. The failure of the Central bank in Phoenix to open about a month ago added to the financial difficulties as it was a correspondent of the Peoria institution. are bright now and the But bank the resumes skies business stronger than ever. The reserve, which had been run down, has been made good by Peoria people, and under the plan of reopening, the surplus is to be increased $10,000 within the next 60 days. The deposits of the bank at the time of closing was $142,000. The capital stock is $25,000. The officers of the bank are Charles F. Dalton, president; J. M. Hall, vice president; P. Latham, vice president: and L. A. Bechtol, cashier. The bank was organized in 1917. "Everyone has stuck by us." declared Charles F. Dalton. president of the Exchange Bank of Peoria, over the telephone last night. "There has not been a knocker. We believe we are stronger than when the bank was closed." This is the second bank in the valvey to be reopened within a short time through the combined efforts of the bank officials, the state bank superintendent and the depositors. The Citizens State Bank of Phoenix, which failed to open at the same time a month ago, was reopened a few days ago. Recently the state effected a consolidation of the Security Bank and Trust Company of Tucson and the Tucson National bank.
13.
April 22, 1921
Graham Guardian
Safford, AZ
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CITIZENS' STATE BANK OPENED WEDNESDAY Phoenix-The Citizens' State Bank of Phoenix, which voluntarily closed its doors on March 23d, reopened for business Wednesday morning. According to the announcement, depositors will be allowed to make withdrawals as usual. There was no change in the organization of the bank. The same officers who controlled the bank's affairs prior to its suspension will remain at its head.
14.
April 23, 1921
The Border Vidette
Nogales, AZ
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Phoenix, April.-The Citizens' State Bank of Phoenix, which voluntarily suspended business three weeks ago, reopened for business today. The interior of the bank was decorated with large floral offerings sent by the other banks of the city as evidence of their good will. The reopening was authorized by Charles W. Fairfield, state su. perintendent of banks.