Merchants & Miners Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: October 30, 1924
Location: Ray, Arizona (33.183, -110.998)

Metadata

Model: gpt-5-mini
Short Digest: 539f746b

Response Measures

None

Description

Article states the bank closed its doors October 30, 1924 and calls it the failed Merchants and Miners Bank. A surety company recovered on a fidelity bond and is suing the former cashier, suggesting bank-specific malfeasance or losses. No mention of a depositor run; closure appears permanent.

Events (2)

1. October 30, 1924 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank closed and is described as failed; suit against former cashier and recovery on fidelity bond imply embezzlement or officer malfeasance led to failure.
Newspaper Excerpt: According to the complaint, the bank closed its doors October 30, 1924
Source: newspapers

2. * Receivership

Newspaper Excerpt: the failed Merchants and Miners bank at Ray ... the state subsequently recovered $6,244.61 on a fidelity bond written by the company.
Source: newspapers

Newspaper Articles (1)

1. November 15, 1927 The Arizona Republic Phoenix, AZ

Article from The Arizona Republic, November 15, 1927

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Article Text

Surety Firm Sues Former Ray Banker Sult to recover from John B. Quinn, formerly cashier of the failed Merchants and Miners bank at Ray and now of Phoenix, was filed yesterday in the United States district court by the National Surety company of New According to the complaint, the bank closed its doors October 30, 1924, and the state subsequently recovered $6,244.61 on a fidelity bond written by the company. As