7234. Bank of Hartford (Hartford, KY)

Bank Information

Episode Type: Suspension → Run → Closure
Bank Type: state
Start Date: March 1, 1926*
Location: Hartford, Kentucky (37.451, -86.909)

Metadata

Model: gpt-5-mini
Short Digest: 9010930f

Response Measures

Full suspension, Books examined

Other: Liquidating agent appointed; criminal prosecutions and civil suits follow.

Description

The Bank of Hartford was taken over by the state banking department and closed in March 1926 (articles reference closed on March and state examiners). It remained in liquidation (liquidating agent disbursing dividends Sept. 28, 1926). Hundreds of depositors made a post-closure withdrawal ('mild run') when invited to receive a 25% dividend; criminal prosecutions and suits against officers followed. Sequence: suspension/closure in March 1926, later depositor run during liquidation (Sept. 28, 1926).

Events (4)

1. March 1, 1926* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank was insolvent (liabilities exceeded assets), taken over by state banking department; later indictments and suits alleging embezzlement, insolvency and improper dividends.
Newspaper Excerpt: the bank was taken over by the banking department ... the bank was closed on March
Source: newspapers

2. April 10, 1926 Other

Newspaper Excerpt: There will be meeting of the depositors and stockholders of the Bank of Hartford, now in the hands of the banking ... for the purpose of plans, organization and taking steps to protect their interest in the liquidation.
Source: newspapers

3. September 28, 1926 Run

Cause Details: Deposit holders assembled to receive a formally-invited 25% dividend from the liquidating agent, producing a large in-person withdrawal event on dividend disbursement day.
Measures: Payments made by the liquidating agent (formal invitations sent; 25% dividend paid out)
Newspaper Excerpt: Neither a steady rain nor a smallpox epidemic ... failed to halt hundreds of depositors from making a mild run on the defunct Bank of Hartford today.
Source: newspapers

4. * Receivership

Newspaper Excerpt: Suit ... filed ... by Glover H. Gray, attorney for the liquidating agent of the bank ... the bank was closed on March ... deposits of more than $300,000 and liabilities totaling more than $400,000.
Source: newspapers

Newspaper Articles (6)

1. March 30, 1926 The Hustler Madisonville, KY

Article from The Hustler, March 30, 1926

Click image to open full size in new tab

Article Text

REVIEW BANKS OF THE STATE FRANKFORT. Ky., March 26 (AP) State Inspector and Examiner T. Scott Mayes, in report REORGANIZATION to Governor Fields, made public today, approved management of the state banking department from July 1923. to December 3, OF BANK LOOMS 1925. Receipts of $117,545.27 exceeded expenditures of 876.31 by $17,667.96 in that period. Dur ing the fiscal year ended June 1925, the banking department Prominent Hartford Citizens made 726 examinations of banks. Interested in Payment of At that time 471 banks in the Depositors. state has capital assets of $269, During the fiscal year 1924-1925, there were ten failures, two of Reorganization of the Bank of Hartthese voluntary liquidations. ford seems likely today as silk combina activities of the banking depart county are expressing more confiment, seven were convicted and dence in their ability to resusciare serving penitent sentences tate the old institution under an while four cases are pending in understanding with the state bankcourt. ing department that such action all depositors of the Bank of Hart BRIEF COURT SESSION ford. Judge Ruby Laffoon held a The banking department of the brief of circuit court Frisession day. No cases were called for state is encouraging this position trial at the session. Four civil of the interested and will cases, besides the two common- lend its aid toward this reorganiwealth cases against John Booth, zation. In view of this situation the banking department, which were included in the call for the has completed its audit of the special term of circuit court. affairs of the bank, is withholding its report of the conditions of the Mrs. Zack Richards. March bank and Deputy State Banking DAWSON Ky. Examiner S. A. Phillips will leave -Four days after the burial of 26. her husband, Zack Richards, of for Frankfort tomorrow without the Kirkwood Springs section, Mrs divulging the condition of the Richards, 87, was interred by his bank when it was taken over by side in the old Beulah cemetery. him ten days ago. She died Wednesday night of sen- One of the former officers of flity Two children, George and the bank is taking a leading part William Richards, both of the in the reorganization wealthiest people of the of bank the and the Kirkwood Springs country survive. this movement, it is said. The TRUSTEE NAMED. state banking department is in Mrs. Ben Evans, of Earlington. terested in the depositors being receiver in the Arthur Clark Bowlpaid in full. es bankrupt case, was appointed trustee at a meeting of creditors REVIVAL IN PROGRESS/ in this city late Wednesday. The EARLINGTON, Ky., March 26.meeting was adjourned until April

2. April 11, 1926 The Owensboro Messenger Owensboro, KY

Article from The Owensboro Messenger, April 11, 1926

Click image to open full size in new tab

Article Text

BANK DEPOSITORS Gather Monday Afternoon At Hartford Courthouse With Commissioner Hartford, Ky., April 10-There will be meeting of the depositors and stockholders of the Bank of Hartford, now in the hands of the banking the here on Monday, April o'clock for the purpose of plans, organization and taking steps to protect their interest in the liquidation. The audit of Ohio county has been completed and the auditors have taken record Louisville where will be copied before being made public, which is expected week.

3. August 14, 1926 Birmingham Post-Herald Birmingham, AL

Article from Birmingham Post-Herald, August 14, 1926

Click image to open full size in new tab

Article Text

BANKERS SUED Suit Seeks To Recover Dividends Paid After Insolvency (By Associated Press) Ky., to $100,000 from for mer officers directors the Bank of Hartford was filed in the Ohio county circuit court here today by Glover H. Gray, attorney for the liquidating agent of the bank named in the W. Ford, president: Rowan Holbrook, vice president: H. R. Lee Simmerman, Parks. Bladk and J. H. B. Cardirectors. The petition alleges that the bank was closed on March this ing deposits of more than $300,000 and liabilities totaling more $400,000. It claimed that in recent years the authorized and paid out $10,000 dividends. alleged that the bank insolvent the time dividends were Their recovery is asked of the defendents.

4. September 29, 1926 The Owensboro Messenger Owensboro, KY

Article from The Owensboro Messenger, September 29, 1926

Click image to open full size in new tab

Article Text

DEPOSITORS PAID FIRST DIVIDEND $75,000 Disbursed By Liquidating Agent of Defunct Hartford Bank. Hartford, Ky., Sept. 28.-Neither a steady rain nor a smallpox epidemic in one section of Ohio county failed to halt hundreds of depositors from making a mild "run" on the defunct Bank of Hartford today. The depositors had been sent formal invitations to take part in the "run" to the extent of twenty-five per cent of their deposits in the bank at the time it was closed last March. Late this afternoon the indications were, according to Glover H. Cary, attorney for the liquidating agent, that none of the depositors would send "regrets." Nearly $5,000 was paid out today as the first dividend of twenty-five per cent. It was announced that the liquidating agent hopes to pay another dividend early next spring. The bank failed with deposits of more than $300,000. There are more than 1200 depositors.

5. March 5, 1927 The Owensboro Messenger Owensboro, KY

Article from The Owensboro Messenger, March 5, 1927

Click image to open full size in new tab

Article Text

COURT WILL CONVENE ON Twenty Criminal Prosecutions Growing Out of Failure of Bank of Hartford Are Pending. The Ohio Circuit court will be convened here Monday, March in regular term, with an unusually docket of both criminal and civil actions. Twenthe criminal upon indictment of parties in connection with failure the Bank Hartford, which closMarch 1926. large portion the other cases are for violations of the prohibition laws. Attorney GloH. Cary said last night the would be ready trials. At former term of Rowan Holbrook was given years prison on forgery charge. He serving the sentence. The grand jury has been summoned for service first day of the term. while the petit jurors report for duty on Tuesday, the second day of the term. There no actions set down for trial the first day of the term that day will be consumed impaneling instructing the grand jury, submission of motions and entering orders only. Following list of criminal actions for trial: Second Day. March 8th C. false tries; E. Simmerman, deiving deposits in insolvent bank; Rowan Holbrook, receiving deposin bank; Hunter, receiving deposits in insolvent bank; W. H. Parks, posits in bank Hunter, Hunter, Hunt O. Hunter, making entries: Hunter, receiving in bank. cases; W. H. Parks, embezzlement; Holbrook, ceiving in insolvent bank, ery: Rowan making false entries; R. Lee ceiving in insolvent bank Hunter, false entries. Third Day, March 9th Starling against her Mark woman Howard. driving: Walter Snead, having still in possession: Walter Snead, moonshine whisky; Walter Snead. having liquor Earl Evans, still in possession; Walter Snead ing Martin Pharris, giving cold check: Arnold chicken Arnold chicken stealing: Walter manufacturing Walter Snead, having still in Guy being drunk in place; Shelby Kelly drunk in public place; Buel Huntthe property of other: Ed Ed in entering the ginseng garden another: Willie Calloway, grand larceny; George and Fletch Wilson, forgery; Roy Ricard. shootpublic highway: Roy malicious nhooting Jim Hall, drunk public place: Jim Hall, operating automobile intoxicated: Jim Hall, in railroad HomRansome, grand larceny. Below the list of civil actions for trial: Seventh Day, March Henry Continental Mary W. Fraim: Evansville Supply Wiggins: Gulf fining Co. Charles Clara Embry vs. Aetna Insurance Lee Watt Leach; O. Burns, Eighth Day. March 15 Ida H. Rockport Coal Ellis, Buell Midkiff. al.: Mike Edge Buell Mike Edge Buell Co., Rockport H. Porter Horton Coal Dave Goodall, lor, Dave Goodall, H. Dave Goodall, vs. Francis GoodChesFrisby, vs. H. Taylor, Edith Taylor, Mrs. M. Fox, H. Stom, et Marvin Grant, vs. Rockport Coal Co.: Ellinwood W. Hudson: Ernest Ray Hoover. James Ellis, etc.; John H. Barnes, Bellamy, John H. Barnes, Martha Medcalf, John H. Barnes, al., vs. Mary Norris: John H. Barnes, et vs. L. Griffith: John H. Barnes, John H. Barnes, Tanner: John vs. W. Brown: John Barnes, vs. Arthur Whitehouse; John H. Barnes, Westerfield; John H Barnes, et Hanna; John H. Barnes, Johnson: John H. E. Marvin, Huntet Guenther Hdwr. VS. Harry M. Malin. Hiley Kessinger Coal Mining Co.; Gertrude Cook, Business Men's Accident Association: W. Ball, National UnInsurance Co:; Eli M. Haylor, Allen King list citizens for summonses have been is. sued for grand jury service: Otha Veachel Westerfield, Johnson, Dud Grant, C. Farmer, Leach, John R. Daniel, Murphy, E. Williams, Allen Moxley, Chinn. Shelby Rock, Haw. Keown. William Vance, Ozna Shultz, Iris Render, H. Rhoads, Orville Tichenor, Bishop, Edwin Mason. Crowder. Those summoned for petit jury are as follows: Ira Hale, W. man, King. W. H. French, Jesse Hoover, N. Romans, Wood, Isaac Cooper, M. Ross, Alvin Ward Gentry, land, Ellis Coy, Ed Tabor, Ray Elvis RenRichardson, Cox, Rex Charlie Smith, Luther Elliott. W. McDaniel, Wilson Williams. Leonard Archie Asa Kelley, Crowe.

6. March 10, 1927 The Owensboro Messenger Owensboro, KY

Article from The Owensboro Messenger, March 10, 1927

Click image to open full size in new tab

Article Text

PROGRESS Only Five Jurors Accepted By Both Sides; 90 More Names Are Drawn. Hartford, Ky., March progress was made today in curing jury in the case of the against Hunaccused of making false tries while cashier of the Bank of Hartford. closed year ago by the When adjourned this afternoon only five jurors, acceptable both the state and defense, had accepted. after twenty names had been exhausted, Judge George Wilson drew the names of 150 citizens from the jury wheel and directed the sheriff to have them in court by noon today. large number these men were court, but when examined, majority of them they had forman opinion as to the guilt or innocense of the defendant. When the panel was exhausted, Judge Wilson drew ninety additional names and directed the sheriff have them in court by o'clock tomorow afternoon. expected jury will be chosen by tomorrow night. Rowan Holbrook, former vice president of the defunct bank, serving two year sentence in the Eddyville charge of forgery connection with the failure of the bank, route Hartford tonight to testify for the state.