713. Stockmens State Bank (St Johns, AZ)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 31, 1922
Location
St Johns, Arizona (34.500, -109.377)

Metadata

Model
gpt-5-mini
Short Digest
6d2c8704

Response Measures

None

Description

Bank (Stockmen's/Stockman's/Stockmens State Bank) closed Dec 31, 1922 and was placed in receivership/liquidation. No run is described in the articles. OCR variants of the name (Stockmen's, Stockman's, Stockmens) noted. Receiver H. P. (or H. J./H. P./H. J. Platt appears in texts) Platt administered liquidation; sale of assets March 10, 1923; first dividend paid Nov 16, 1923; court adjudged bank insolvent by Jan 1924. Classified as suspension_closure because the bank suspended and was liquidated/receivered and did not reopen.

Events (4)
1. December 31, 1922 Suspension
Cause
Government Action
Cause Details
Bank closed and placed in receivership/being liquidated by state banking authorities/court after insolvency determination.
Newspaper Excerpt
The bank closed its doors on December 31, 1922, and since that time the receiver and the state bank department have been engaged in liquidating the assets of the institution.
Source
newspapers
2. March 10, 1923 Receivership
Newspaper Excerpt
Notice is hereby given that... will sell at Public Auction on Saturday, the 10th day of March, 1923... In the Matter of the Liquidation of Receivership, Stockmen's State Bank... DOANE MERRILL, State Superintendent of Banks. By GILBERT E. GREER, Special Deputy Supt. of Banks. (sale notice for receivership liquidation).
Source
newspapers
3. November 16, 1923 Other
Newspaper Excerpt
Checks are now being drawn by Henry P. Platt, receiver of the Stockmen's State bank of St. Johns in payment of the first dividend in the liquidation of the affairs of the bank... The dividend will amount to 15 per cent of the amount of claims against the bank.
Source
newspapers
4. January 4, 1924 Other
Newspaper Excerpt
Demand has been made by Receiver H. J. Platt of a 100-per cent assessment on the capital stock of the Stockman's State bank of St. Johns. The superior court has adjudged the bank insolvent and has determined its assets to be $89,543.45 and its liabilities $141,831.66.
Source
newspapers

Newspaper Articles (4)
1. February 23, 1923 The Coconino Sun Flagstaff, AZ
Article from The Coconino Sun, February 23, 1923

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Article Text

NOTICE OF SALE (Sheep) In the Superior Court, County of Apache, State of Arizona. In the Matter of the Liquidation of Receivership, Stockmen's State Bank, Docket No. 480. Notice is hereby given that, pursuant to an order of the Superior Court made and entered on the 9th day of February, 1923, the undersigned will sell at Public Auction on Saturday, the 10th day of March, 1923, at 2 o'clock P. M., of that date at the front door of the County Court House in St. Johns, Apache County, Arizona, the following described property: All those certain sheep known and designated as the Frank Golsarry sheep and being approximately 1000 head more or less and now being and running at or near the Hay Hollow, Apache County, Arizona. The said sheep will not be present at the time of the sale, but are running and ranging in a separate band and may be inspected prior to said date and upon application will be shown to any parties interested. DOANE MERRILL, State Superintendent of Banks. By GILBERT E. GREER, Special Deputy Supt. of Banks. 3-24-3-2-2t

2. March 2, 1923 The Coconino Sun Flagstaff, AZ
Article from The Coconino Sun, March 2, 1923

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Article Text

NOTICE OF SALE (Sheep) In the Superior Court, County of Apache, State of Arizona. In the Matter of the Liquidation of Receivership, Stockmen's State Bank, Docket No. 480. Notice is hereby given that, pursuant to an order of the Superior Court made and entered on the 9th day of February, 1923, the undersigned will sell at Public Auction on Saturday, the 10th day of March, 1923, at 2 o'clock P. M., of that date at the front door of the County Court House in St. Johns, Apache County, Arizona, the following described property: All those certain sheep known and designated as the Frank Golsarry sheep and being approximately 1000 head more or less and now being and running at or near the Hay Hollow, Apache County, Arizona. The said sheep will not be present at the time of the sale, but are running and ranging in a separate band and may be inspected prior to said date and upon application will be shown to any parties interested. DOANE MERRILL, State Superintendent of Banks. By GILBERT E. GREER, Special Deputy Supt. of Banks. 3-24-3-2-2t

3. November 16, 1923 The Coconino Sun Flagstaff, AZ
Article from The Coconino Sun, November 16, 1923

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Article Text

BANK OF ST. JOHNS RECEIVER PAYING FIRST DIVIDENDS Checks are now being drawn by Henry P. Platt, receiver of the Stockmen's State bank of St. Johns in payment of the first dividend in the liquidation of the affairs of the bank, according to an announcement made by Andrew T. Hammons, state superintendent of banks. The dividend will amount to 15 per cent of the amount of claims against the bank. The bank closed its doors on December 31, 1922, and since that time the receiver and the state bank department have been engaged in liquidating the assets of the institution. A total of $11,403.05 will be paid out to the creditors of the bank as the first dividend. Approval of the payment has been made by the superior court of Apache county and by Mr. Hammons. The amount refunded to the creditors represents the portion to date which has been received on the paper of the bank. About 200 creditors of the bank will receive checks representing 15 per cent of their claims against the institution. Some of the checks have already been sent out, Mr. Hammons said, and the rest will be mailed within a few days. Mr. Hammons in company with Wayne Hubbs, state treasurer, visited the bank last week.

4. January 4, 1924 The Coconino Sun Flagstaff, AZ
Article from The Coconino Sun, January 4, 1924

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Article Text

FULL ASSESSMENT OF ST. JOHNS BANK STOCK ASKED Demand has been made by Receiver H. J. Platt of a 100-per cent assessment on the capital stock of the Stockman's State bank of St. Johns. The superior court has adjudged the bank insolvent and has determined its assets to be $89,543.45 and its liabilities $141,831.66. The assessment is on a normal stock par value of $40,000, but, as many of the stockholders are insolvent, the receiver expects to realize less than half this sum from the levy. The final loss to the creditors probably will be about $35,000.