732. Central Bank (Wickenburg, AZ)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: March 23, 1921
Location: Wickenburg, Arizona (33.969, -112.730)

Metadata

Model: gpt-5-mini
Short Digest: 46cfaedf

Response Measures

Full suspension, Books examined

Other: Receiver appointed and bank placed in receivership; state auditor/examiners took charge.

Description

Articles state a telegraphed false story that Wickenburg bank had suspended precipitated a run (Arizona Republican 1921-03-24). The bank voluntarily suspended March 23, 1921, and a receiver was sought/appointed in early April 1921; later records show the bank remained defunct. I mark the run as triggered by a discrete misinformation event (random_run=true).

Events (3)

1. March 23, 1921 Run

Cause: Rumor Or Misinformation
Cause Details: A telegraphed story falsely reporting that the Central Bank of Wickenburg had suspended, which led depositors to withdraw funds.
Random Run: Yes
Random Run Snippet: Telegraphed false report said bank had suspended; triggered run
Measures: Voluntary suspension of business (notice on door); affairs turned over to state auditor/superintendent of banks; state examiners placed in charge.
Newspaper Excerpt: The closing of the Wickenburg bank was precipitated by a story telegraphed ... that the Wickenburg bank had suspended, though it had not done so ... the run was inevitable
Source: newspapers

2. March 23, 1921 Suspension

Cause: Rumor Or Misinformation
Cause Details: Voluntary suspension following heavy withdrawals precipitated by false telegraphed rumors of suspension; state banking officials took charge pending examination.
Newspaper Excerpt: The three banks which suspended business today were ... the Central Bank of Wickenburg ... 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.
Source: newspapers

3. April 1, 1921 Receivership

Newspaper Excerpt: W. J. Galbraith, state's attorney general, today filed an application in superior court asking for the appointment of R. W. Baxter as receiver of the Central bank of Wickenburg. Baxter is a Wickenburg business man. The bank recently voluntarily suspended business.
Source: newspapers

Newspaper Articles (20)

1. March 23, 1921 The Evening Herald Albuquerque, NM

Article from The Evening Herald, March 23, 1921

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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

Article from The Wheeling Intelligencer, March 24, 1921

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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

Article from Bisbee Daily Review, March 24, 1921

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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 24, 1921 Arizona Republican Phoenix, AZ

Article from Arizona Republican, March 24, 1921

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THREE BANKS IN THE COUNTYFAIL TOOPEN DOORS YESTERDAY Three banks, one in Phoenix, the Citizens of Five Points, the Central Bank of Wickenburg and the Exchange Bank of Peoria, suspended operations yesterday morning from different causes, all of them more or less related to the closing of the Central Bank of Phoenix last Monday. The closing of the Wickenburg bank was precipitated by a story telegraphed to the Journal-Miner of Prescott on Monday in which it was stated that the Wickenburg bank had suspended, though it had not done so, and there was no probability that it would. It was well within the legal reserve, but the run was inevitable and yesterday morning after a conference with the state bank examiner it was decided not to reopen the bank for business. The Citizens bank of Five Points had also been subjected to a disastrous run on Tuesday. It too was well within the legal reserve and was in a prosperous condition, but without means to withstand the steady and heavy drain of a day upon it. The state banking department found itself overwhelmed with business and without provision for the employment of enough examiners for the closed institutions. Accordingly, K. G. Freeland, former assistant cashier of the Central bank, was sent by State Auditor Fairfield to take charge of the Peoria bank: E. L. Riggle is temporarily est charge of the Wickenburg bank, and H. M. Moritz, deputy bank examiner, of the Citizens bank. The general appropriation bill passed in the late legislative session provides for two more deputy bank examiners, but the funds appropriated will not be available before July 1. The state has funds in all of these institutions, all amply secured by bonds. There were wild rumors throughout the day of the suspension of other small banks in this county and of two outside the county, but there was no confirmation of them at the office of the state auditor. o

5. March 25, 1921 The Copper Era and Morenci Leader Clifton, AZ

Article from The Copper Era and Morenci Leader, March 25, 1921

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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.

6. March 26, 1921 Arizona Republican Phoenix, AZ

Article from Arizona Republican, March 26, 1921

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CITIZENS AND PEORIA BANKS TO OPEN SOON Reorganization Of Two Institutions Which Suspended Business AnnouncedDepositors Will Not Lose a Cent Reorganization of the Citizen's Bank at Five Points and the Exchange Bank of Peoria without loss of a cent to the depositors was the optomistic news given out yesterday by Charles F. Fairfield, state superintendent of banks. Mr. Fairfield declared that a resumption of business would be the matter of a short time as the banking department was at present working out a plan which he was confident would be effective in the reopening of the banks which closed their doors a few days ago. Mr. Fairfield said officers and directors of both institutions were cooperating with the state banking officials for the benefit and protection of the depositors who in turn were leading support to the plan which, in his opinion, will result in the opening of the banks within a brief period. The bank at Five Points and that in Peoria voluntarily suspended business on Wednesday when they turned over their affairs to Mr. Fairfield. The state bank superintendent immediately placed deputies in charge and has worked day and night himself to get the affairs of the bank in shape that plans might be made for the resumption of business, Mr. Fairfield not only believes that the banks will be opened soon but that the institutions will be stronger than ever before. That financial weakness did not cause the suspension of business is demonstrated by the quick manner in which the readjustment is being made, largely, it is said, through the efforts of Mr. Fairfield, Attorney General Galbraith said yesterday that he would institute proceedings in the superior court early in the week for the appointment of a receiver in the Central Bank of Wickenburg. Yesterday he received formal notice from the bank superintendent of the voluntary suspension of 0 business of the bank on Wednesday.

7. March 27, 1921 Tombstone Epitaph Tombstone, AZ

Article from Tombstone Epitaph, March 27, 1921

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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.

8. April 2, 1921 Bisbee Daily Review Bisbee, AZ

Article from Bisbee Daily Review, April 2, 1921

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ASKS FOR RECEIVER PHOENIX, Aprtil 1.-W. J. Gal braith, state's attorney general, today filed an application in superior court asking for the appointment of R. W. Baxter as receiver of the Central bank of Wickenburg. Baxter is a Wickenburg business man. The bank recently voluntarily suspended business.

9. April 15, 1921 The Holbrook News Holbrook, AZ

Article from The Holbrook News, April 15, 1921

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Southwest News From All Over New Mexico and Arizona (Western Newspaper Union News Service.) at Mining operations at Tombstone, one time the richest silver mining ) camp in the West, have practically ceased. Fire which threatened the city of Willcox, Ariz., destroyed several business houses and threatened the new Riggs Bank. Albuquerque's second troop of cavalry to be known as Troop E. was organized at a smoker held at the National Guard armory. The annual spring round-up for Guadalupe county was held in Santa Rosa, New Mexico, April 9 and 10. when over $1,000 in prizes were awarded to the winners. Directors of the Chamber of Commerce of Douglas, Ariz., unanimously voted down the plan placed before them to return to the daylight saving plan April 1 to October 1. The Fort Bayard, N. M., post of Veterans of Foreign Wars will stage a big roundup the first week in May, and the arena, grandstand and the bleachers are now under construction. Tomas Ramon, convicted of murder in thef irst degree in connection with the robbing of a mercantile store in Tempe some months ago, has appealed his case to the State Supreme Court. Francisco Ramones, escaped convict from Florence, was captured in Tucson by Sheriff Daniels and Deputy Hicks. Ramones was convicted of burglary and given a sentence of from two to three years. Mrs. Clarence V. Hopkins, wife of a prominent mining engineer and former official of the United Verde Copper Company, was rushed to the Prescott county jail to protect her from violence, following the throwing of a poisonous acid into the face of Miss Lucille Gallagher, a Jerome, Ariz., school teacher. The New Mexico Corporation Commission has been notified by the Santa Fé railway that the rate increases would be suspended for cattlemen shipping/their cattle from the drought stricken districts in the southwestern part of New Mexico to the northern and eastern districts, where they can get pasturage. The increases, which the railway will suspend, range from 25 to.35 per cent. Fire of undetermined origin at Clayton, New Mexico, destroyed five buildings occupied by fuel and feed companies and a grocery store. The loss was estimated at $50,000. The fire cut telephone and telegraph wires, and isolated the town from communication with outside communities. Help was obtained from neighboring towns and a bucket brigade succeeded in getting the fire under control. While Postmaster L. R. Bailey of Bisbee, Ariz., was working in his office two masked men, believed to be Mexicans, entered, and at the point of guns, forced him to open the postoffice vault. They escaped with about $50,000, according to information given out, $40,000 of which is said to have been in cash. Postmaster Bailey was found bound and gagged, having been beaten over the head, Deputy sheriffs captured Ramon Lazano and E. Corral and returned them to Silver City, N. M., where they are wanted to answer charges in connection with the killing of Ventura Bencoma, Silver City jailor. Bencoma was killed with an ax while asleep in the fail. Lozano and Corral, who were prisoners on misdemeanor charges, escaped shortly after the killing. according to officials of Grant county. W. P. Lathrop, for ten years manager of the branch bank of the Gila Valley Bank and Trust Company at Safford, Ariz., is wanted on a charge of embezzlement, The shortage is said to be in the neighborhood of $17,000. Lathrop left Safford about a month ago, on what was supposed to be his annual vacation. It has been announced at Jerome, Ariz., that the United Verde Copper Company's mine and the United Verde Extension mine, the two largest producers of copper in Yavapai county, would be shut down on April 15. Both mines curtailed production some time ago and at present are employing only about 50 per cent of their normal forces. The Postoffice Department report for the fiscal year ending June 30, 1920, just issued, shows that Raton leads the state of New Mexico in postal savings deposits. Twenty-seven accounts at that office show a total of $17,173, or $7,000 more than any other office in New Mexico. Albuquerque has thirteen depositors, with a total of $1,391, while Gallup has thirty accounts totaling $9,517. W. J. Galbraith, state's attorney general, has filed an application in Superior Court asking for the appointment of R. W. Baxter as receiver of the Central Bank of Wickenburg. Baxter is a Wickenburg business man. The bank recently voluntarily suspended business. Articles of incorporation of the Maricopa Country Club, formerly Morley's Country Club, have been filed at Phoenix. The club is incorporated for the purpose of "fostering a good fellowship, promoting social activity, recreation and entertainment." Two distinct earthquake shocks were felt/in Holbrook, Ariz., of about thirty seconds' duration. The first shock was marked, but the second seemed to taper off. traveling from east to west.

10. April 22, 1921 Carrizozo Outlook Carrizozo, NM

Article from Carrizozo Outlook, April 22, 1921

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From All Over New Mexico and Arizona (Western Newspaper Union News Service ) Mining operations at Tombstone, at one time the richest silver mining camp In the West, have practically ceased. Fire which threatened the city of Willcox, Ariz. destroyed several business houses and threatened the new Riggs Bank. Albuquerque's second troop of cavalry to be known as Troop E. was or. ganized at H smoker held at the Na tional Guard armory. The annual spring round-up for Guadalupe county was held in Santa Rosa, New Mexico, April 9 and 10, when over $1,000 in prizes were awarded to the winners. Directors of the Chamber of Commerce of Douglas, Ariz., unanimously voted down the plan placed before them to return to the daylight saving plan April 1 to October 1. The Fort Bayard, N. M., post of Veterans of Foreign Wars will stage a big roundup the first week In May, and the arena, grandstand and the blenchere are now under construction Tomas Ramon, convicted of murder in thef 1 degree in connection with the robbing of a mercantile store in Tempe some months ago, has appealed his case to the State Supreme Court. Francisco Ramones, escaped conviet from Florence, was captured in Tucson by Sheriff Daniels and Deputy Hicks Ramones was convicted of burglary and given a sentence of from two to three years. Mrs. Clarence V. Hopkins, wife of a prominent mining engineer and former official of the United Verde Copper Company, was rushed to the Prescott county fall to protect her from vio lence, following the throwing of a polsonous acid into the face of Miss Lucille Gallagher, a Jerome, Arlz., school teacher. The New Mexico Corporation Commission has been notified by the Santa Fé railway that the rate increases would be suspended for cattlemen ship ping their cattle from the drought stricken districts in the southwestern part of New Mexico to the northern and eastern districts, where they can get pasturage. The Increases, which the railway will suspend, range from 25 to 85 per cent. Fire of undetermined origin at Clayton. New Mexico, destroyed five build Ings occupied by fuel and feed companies and is grocery store. The loss was estimated at $50,000. The fire cut telephone and telegraph wires, and Iso lated the town from communication with outside communiti N. Help was obtained from neighboring towns and a bucket brigado succeeded in getting the fire under control. While Postmaster L. R. Balley of Bisbee, Ariz. was working In his office two masked men, believed to be MexJeans, entered, and at the point of guns, forced him to open the postoffice vault. They escaped with about $50,000. according to information given out, $40,000 of hich is said to have been in cash. Postmaster Balley was found bound and gagged, having been beaten over the head. Deputy sheriffs captured Ramon La zano and E. Corral and returned them to Silver City, N. M. where they are wanted to answer charges In connec tion with the killing of Ventura Ben coma Silver City jatlor. Bencoma was killed with an BX while asleep in the jail. Lozano and Corral. who were prisoners on misdemeanor charges, es caped shortly after the killing accord ing to officials of Grant county W P Lathrop, for ten years man ager of the branch bank of the Glla Valley Bank and Trust Company at Sufford, Arlz. is wanted on H charge of embezzlement The shortage is said to be in the neighborhood of $17,000 Lathrop left Safford about a month ago, on what was supposed to be his vnnual vacation It has been announced at Jerome Artz. that the United Verde Copper Company's mine and the United Verde Extension mine, the two largest pro ducers of copper in Yavapal county would be shut down on April 15. Both mines curtailed production some time ago and at present are employ ing only about 50 per cen of their normal forces. The Postoffice Department report for the fiscal year ending June 30, 1920, just issued, shows that Raton lends the state of New Mexico in post al savings deposits. Twenty-seven ac counts at that office show a total of $17,178. or $7,000 more than any other office in New Mexico. Albuquerque has thirteen depositors, with a total of $1,391. while Gallup has thirty accounts totaling $9.517 W.J. Galbraith, state's attorney general, has filed an application in Super for Court asking for the appointment of R. W. Baxter as receiver of the Central Bank of Wickenburg. Baxter is a Wickenburg business man. The

11. May 10, 1921 Arizona Republican Phoenix, AZ

Article from Arizona Republican, May 10, 1921

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GOLDEN EAGLE MINE IS TO BE REOPENED WICKENBURG, May 9. - F. C. Skadan of Los Angeles was in town last week on business connected with resuming operations of his mining property north of town, known as the Golden Eagle. Work will be started in a short time. This property was worked some few years ago and proved to be a very good mine. With the reopening of this claim, makes that vicinity quite lively onee more. The big steam shovel of the Santa Fe is still in operation tearing down the hill west of the depot. The earth is hauled away and made into a double track roadway west of town. With the completion of this work Wickenburg will have a much improved railroad yard. Paul Hannon. clerk at the Brayton Commercial store, was quite ill for a few days last week, returning to work Thursday. The vacancy in the store was filled by O. R. Jaycox. Receiver Baxter of the Central Bank has on file at the bank a copy of the report of the Central Bank which any depositor can examine by calling at the bank. Mrs. Marie Savage, daughters of Mr. and Mrs M. M. Fisher 3 ft Monday night for Aguila to spend a few days visiting her sister, Mrs. Fred Miller on their ranch 18 miles north of Aguila. Lou Carlebois, who has had several thousand sheep in this vicinity, left last week for his summer range in the northern part of the state. They have been shearing at his ranch two miles north of town. The pupils) of Miss Phillips' room in the Wickenburg school. comprising the fifth, sixth and seventh grades, accompanied by their teacher. enjoyed a picnic on the banks of the river last Friday. Mrs. Gladys Rogers of Phoenix, spent a few days last week visiting her parents, Mr. and Mrs. E. J. Ford. Adolph Kirk and family of Salome have moved into one of the Charley Miller residences on Second street north. Miss Marjorie Ford left last week for her new home in Roswell, New Mexico. C. H. Rolfe, agent for Standard Oil company at Glendale, drove up last week and spent a day with his friends, Granville Fain of Phoenix and Prescott was in town for a few days

12. August 6, 1921 Arizona State Miner Wickenburg, AZ

Article from Arizona State Miner, August 6, 1921

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A letter from Attorney Weldon J. Bailev of the 3d to our editor, brings to public notice the following petition as a last desperate move of Sprunger et als. to infiuence Judge Jenckes, who is in charge of Judge Stanford's Department of the Superior Court, to retain the deposed cashier and Receiver Baxter, in charge of the books, assets and accounts of the defunct Wickenburg Central Bank. It was filed on last Monday, the very day when the hearing was had for removal of Sprunger and his receiver on the petition of H. B. Watson, representing the depositors of said bank. It will be noticed that the usual "camouflage" of ringing in the chamber of commerce (?) of which the cashier was the directing head and secretary, the fire department, the mayor and Welfare Fund, and some obsolete firms now out of business, who in reality are debtors to the bank and morally oblicated to the depressed cashier for past favors. The petition was not presented in court, but was possibly intended as a clinching argument along with certain letters doubtless obtained on the "dollar for dollar" avowal, to influence the court, at the critical moment by the receiver's attorney. Right here it is only just. to state that several persons interviewed state that they signed the petition misapprenensively and others deny it altogether, which facts are to be presented the court if it ever sees the light of day there which is doubtful because it actually nullifies itself, and is without signature designating it as a properly endorsed court document: THAT ALL MAY KNOW In the Superior court of Maricopa County, State of Arizona. State of Arizona, plaintiff, vs. Central Bank of Wickenburg, et al., defendent. No. 14039. Petition of depositors. Come now the following depositors of the Central Bank of Wickenburg, in personam, and file herein their petition that the Receiver and His Assistant, continue to have charge of the affairs of said bank for the best interests of all concerned: Aguila Cattle Co. per V. A. Powell Brayton Com. Co. G. C. Wentworth Upton Oil Co., pr J. Campbell James Wickenburg Chamber of Commerce, pr R. K. Baxter Frank Tarbutton. Merchant, per Frank Tarbutton Blue Ribbon Bakery, per Floyd Kellis. Wickenburg Branch American Red Cross, per Allie M. Paul, secy. Hassayampa Invest. & Dev. Co. per W. S. Massey Town of Wickenburg per W E. Paul, Mayor Hyder Bros. Garage, per Chas, Hyder. Wickenburg Drug Co. per A. Gray, Mgr. N. B. Caldwell Meat Market per N. B, Caldwell Wickenburg Welfare Fund per Mrs. B. J. Witherlay Consolidated Vanadium Co. per W. S. Greene, Supt. Abe Lincoln Copper Co. per Ed W. Getten

13. August 7, 1921 Tombstone Epitaph Tombstone, AZ

Article from Tombstone Epitaph, August 7, 1921

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ATTACK WICKENBURG BANK RECEIVER AS UNSKILLED PHOENIX Ariz.. Aug. 5.-An attack is being made at Wivkenburg by the editor of a weekly paper and others, on the receiver actions of R. W. Baxtex. in charge of the bankrupt Central bank og Wickenburg, on the basis that the receiver is not skilled in such matter and has appointed the former mer cashier as an assistant. There has just been filed in the superior court a petition in support of Mr. Baxter, signed by about 100 Wickenburg residents and a dozen of the town's business men, with inclusion of the mayor and officers of the chamber of commerce.

14. June 27, 1922 Arizona Republican Phoenix, AZ

Article from Arizona Republican, June 27, 1922

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Four Claims Are Allowed Against Wickenburg Bank Four of the 17 preferred claims on the defunct Central Bank of Wickenburg were allowed by Judge R. C. Stanford yesterday afternoon and the others were taken under advisement. Claims allowed were: Bankers Trust Co., $1,650; B. H. Baxter, $37.50; E. H. Smith $58.33 and H. C. Sprunger, $23.47. The total amount of all preferred claims is $9,100. According to figures presented to the court by Willis H. Plunkett, who made an auditing of the affairs of the bank, there is, aside from the preferred claims, about $12,000 remaining with which to pay additional claims totaling $160,000. This means that the bank will be in a position to pay through its receiver something between 7 and 8 cents on the dollar. The Central Bank of Wickenburg closed its doors March 23. 1921.

15. July 18, 1922 Graham Guardian Safford, AZ

Article from Graham Guardian, July 18, 1922

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BANK OF PHOENIX (formerly Central Bank of Phoenix), a corporation, and R. W. BAXTER, as Receiver for the Central Bank of Wickenburg, a corporation,

16. July 18, 1922 Graham Guardian Safford, AZ

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# NOTICE OF SHERIFF'S SALE OF REAL PROPERTY. In the Superior Court of the State of Arizona, in and for the County of Graham. C. M. LAYTON, Plaintiff, vs. EUGENE CURTIS, PEARL CURTIS his wife, and CENTRAL FINANCE CORPORATION, a corporation. and Defendants, BANK OF PHOENIX (formerly Central Bank of Phoenix), a corporation, and R. W. BAXTER, as Receiver for the Central Bank of Wickenburg, a corporation, Interveners. Under and by virtue of a special execution and order of sale issued out of the Superior Court of the State of Arizona, in and for the County of Graham, in an action wherein C. M. Layton was plaintiff and Eugene Curtis, Pearl Curtis, his wife, and Central Finance Corporation were defendants, and the Bank of Phoenix (formerly Central Bank of Phoenix), a corporation, and R. W. Baxter as Receiver for the Central Bank of Wickenburg, a corporation, were interveners, upon a judgment rendered on the 23rd day of January, 1922, in favor of the said interveners and against the said defendants, Eugene Curtis and Pearl Curtis, his wife, for the sum of $6,784.50, with interest on $5,237.43 thereof at the rate of ten per cent. per annum from the date of said judgment until paid and on $1,547.07 thereof at the rate of six per cent per annum from the date of said judgment until paid, together with costs and disbursments taxed at the sum of $15.00, and in favor of said plaintiff and against said defendants, Eugene Curtis and Pearl Curtis, his wife, for the sum of $5,449.12 lawful money of the United States, with interest thereon from the date of said judgment at the rate of six per cent per annum until paid, and declaring said judgment for said interveners and said plaintiff to be a lien on on the following described real estate, lying and being in the County of Graham, State of Arizona, and particularly described as follows, to-wit: Beginning at the Northwest corner of the Northeast quarter of the Southeast quarter of Section 12. in Township 5 South, Range 23 East of the Gila and Salt River Meridian in Graham County. Arizona; thence South 160 rods; thence East 100 rods; thence North 160 rods; thence West 100 rods, to the place of beginning, and containing 100 acres, more or less. I am commanded to sell the above-described real estate at public auction to satisfy the lien of the interveners and of the plaintiff as in said

17. July 25, 1922 Graham Guardian Safford, AZ

Article from Graham Guardian, July 25, 1922

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BANK OF PHOENIX (formerly Central Bank of Phoenix), a corporation, and R. W. BAXTER, as Receiver for the Central Bank of Wickenburg, a corporation, Under and by virtue of a special execution and order of sale issued out of the Superior Court of the State of Arizona, in and for the County of Graham, in an action wherein C. M. Layton was plaintiff and Eugene Curtis, Pearl Curtis, his wife, and Central Finance Corporation were defendants, and the Bank of Phoenix (formerly Central Bank of Phoenix), a corpora-

18. August 1, 1922 Graham Guardian Safford, AZ

Article from Graham Guardian, August 1, 1922

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# NOTICE OF SHERIFF'S SALE OF REAL PROPERTY. In the Superior Court of the State of Arizona, in and for the County of Graham. C. M. LAYTON, Plaintiff, VS. EUGENE CURTIS, PEARL CURTIS his wife, and CENTRAL FINANCE CORPORATION, a corporation, Interveners. Defendants, and BANK OF PHOENIX (formerly Central Bank of Phoenix), a corporation, and R. W. BAXTER, as Receiver for the Central Bank of Wickenburg, a corporation, Under and by virtue of a special execution and order of sale issued out of the Superior Court of the State of Arizona, in and for the County of Graham, in an action wherein C. M. Layton was plaintiff and Eugene Curtis, Pearl Curtis, his wife, and Central Finance Corporation were defendants, and the Bank of Phoenix (formerly Central Bank of Phoenix), a corporation, and R. W. Baxter as Receiver for the Central Bank of Wickenburg, a corporation, were interveners, upon a judgment rendered on the 23rd day of January, 1922, in favor of the said interveners and against the said defendants, Eugene Curtis and Pearl Curtis, his wife, for the sum of $6,784.50, with interest on $5,237.43 thereof at the rate of ten per cent. per annum from the date of said judgment until paid and on $1,547.07 thereof at the rate of six per cent per annum from the date of said judgment until paid, together with costs and disbursments taxed at the sum of $15.00, and in favor of said plaintiff and against said defendants, Eugene Curtis and Pearl Curtis, his wife, for the sum of $5,449.12 lawful money of the United States, with interest thereon from the date of said judgment at the rate of six per cent per annum until paid, and declaring said judgment for said interveners and said plaintiff to be a lien on the following described real estate, lying and being in the County of Graham, State of Arizona, and particularly described as follows, to-wit: Beginning at the Northwest corner of the Northeast quarter of the Southeast quarter of Section 12, in Township 5 South, Range 23 East of the Gila and Salt River Meridian in Graham County, Arizona; thence South 160 rods; thence East 100 rods; thence North 160 rods; thence West 100 rods, to the place of beginning, and containing 100 acres, more or less. I am commanded to sell the above-described real estate at public auction to satisfy the lien of the interveners and of the plaintiff as in said judgment set forth, and NOTICE IS HEREBY GIVEN that I will on the 26th day of July, 1922, at two o'clock P. M. of said day, at the court house door situated in the town of Safford, County of Graham State of Arizona, sell at public auction for current lawful money of the United States of America, all the right, title, claim and interest of the said defendants, Eugene Curtis and Pearl Curtis, his wife, in and to the above-describ-

19. November 5, 1922 Tombstone Epitaph Tombstone, AZ

Article from Tombstone Epitaph, November 5, 1922

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LOST THE STATE OF ARIZONA $439,000.00 BECAUSE OF THE FAILURE OF THE CENTRAL BANKS OF PHOENIX, WICKENBURG AND WILLCOX. The Bond Shows That It Was Disapproved by Campbell July 28, 1920, but It Was Not Returned to the State Treasurer Until January 8, 1921 Law is Specific-Campbell Cannot Escape Responsibility On February 28, 1922, the Bank of Phoenix, formerly the Central Bank of Phoenix, went into the hands of a receiver. At the time the bank closed its doors it had on deposit funds of the State of Arizona in the amount of $339,000.00 and an additional amount of $100,000.00 in the Central Bank of Wickenburg and Central Bank of Willcox. It is now conceded that the depositors of the bank will receive but very little. if any, dividends, as a result of the receivership. and it is estimated they will get less than five cents on the dollar. The stockholders and depositors of the defunct bank naturally were much interested in the character of the man who was to be appointed receiver. On March 24, 1922. Andy Baumert. then and now National Committeeman of the Republican party for the State of Arizona. was appointed by Judge Joseph S. Jenckes receiver of the bank. It will be remembered that Judge Joseph S. Jenckes was appointed by Governor Thomas E. Campbell as judge of the Superior Court of Maricopa county. and it is asserted that the appointment of Andy Baumert, National Committeeman. was made at the suggestion or request of Governor Campbell. Andy Baumert, as the receiver of the bank. has not up to this time (October 20. 1922). filed any report or inventory of assets and liabilities of the institution. So far as the depositors and creditors are concerned. they do not know and have no means of knowing what notes or other obligations the defunct bank owns. On May 13. 1922. a petition was filed in the case for a disclosure of assets and claims. The records of the court do not show that any action granting this request was ever taken. One of the most important questions in connection with the present campaign is whether or not Governor Thomas E. Campbell will be called upon to render a report of his stewardship in connection with the banking situation in Arizona. During his administration there have been a number of bank failures in which thousands of depositors have been beggared. The State of Arizona it. seif has lost nearly half a million dollars as a result of these bank failures. The responsibility for these losses is placed by Governor Campbell upon the shoulders of former State Treasurer Harry S. Ross. The action of Governor Campbell in trying to shift the responsibility must not be permitted to pass unchallenged. Harry S. Ross alone must not be left to shoulder the responsibility. Governor Campbell must not be permitted by the public to escape his just share of the responsibility placed upon his shoulders by law. The laws of Arizona, paragraphs 4637 to 4655. Civil Code, 1913. provide for the selection of depositories of the state's public moneys. By it the Governor, Treasurer and the Auditor of the state are authorized and empowered to appoint and designate one or more banks having a paid-up capital of not less than ten thousand dollars to be depositories of the state. However, before any of the public moneys may be placed is a designated depository it must execute to the state a bond indemnifying the state against loss. The bond may be signed by personal* sureties or by a surety company doing business in the state, under the laws governing surety companies, and in either case the bond must be "approved by the Governor, Treasurer and Auditor of the state, who shall, at the time of approving the same, certify in writing thereon that they have made diligent personal investigation as to the sufficiency of the sureties thereon, and are satisfied that such bond is amply sufficient to protect the interests of the state." This bond is required to be deposited with the State Treasurer, who is forbidden by the law to make deposits in excess of the amount of bond. In lieu of the personal surety bond and the surety company bond above named, the depository may deposit with the State Treasurer "interest-bearing bonds of the United States or of the state, or any county, city, road district or school district of this state at par as security for public moneys." This section of the law of Arizona places certain duties upon the Governor of the State, which require him to pass upon the sufficiency of securities that are given as bonds to cover state deposits. The failure to comply with this section of Arizona's law is not the only place where Governor Campbell has fallen down in the enforcement of the laws and in his compliance with the duties as chairman of the board approving the bonds for state deposits. During the closing days of the 1919 session of the Arizona Legislature a bill known as "Senate Bill No. 190" was rushed through. and having passed both houses. remained with Governor Campbell for ten days. He, knowing the purpose of this measure, permitted it to become a law without his signature. Senate bill No. 190 made it possible for corporations like the Central Finance Corporation to transact business in the State of Arizona and to guarantee bank deposits for the State of Arizona on such

20. January 12, 1924 Arizona State Miner Wickenburg, AZ

Article from Arizona State Miner, January 12, 1924

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WICKENBURG AND VICINITY The new community hall project to a point of a site becomes hss selection developed where subscribed necessary. the dollars has been and the looks like a Mrs. Lightner Over Mr. 1000 and project visitors of surety. Long Beach were Wickenburg Sun day. Mrs. Lightner will be remembered as Miss Draga Earle, the daughter of Mrs. Dick Walcott, former resident of this city. a dozen members of the Maorder in Wickenburg are to form a permanent ning sonic Over long lodge lease here. planThey plan to take a on the upstairs portion of Lou Charlebois new hotel. the Catholic church is prorapidly. Cement will be on columns gressing Work on constructed retaining front both sides, in addition to the two towers. Soon as these are up, ConOrta will replace the roof and new addition in rear of the of tractor Matt Bunker Wenden Phoenix chancel. Garage passed through en route to last week. Mr. and Mrs. William Reedy and the Mary, were in from Cristo Mine leaders of the daughter, Monte Monday Presbyterian evening we are informed, ed for resumption church, Local a plan have and which comple- unfold- was their new church, delayed some C. Straughan, unavoidably ago. tion of B. local banker, months and is for the leads authority the building statement committee, representing that the as soon as the attorney Mission Board signs the papers. work of building will start. competitive examination for postin Wickenburg, master A under 1921. the Appli- president's order of May 10, should apply at for information blanks for postoffice cants examination. Wickenburg and the necwife and in Minstrel show essary Bill the Reedy, daughter, last residents evening, took of with a number of the Constellation, who helped make up the audience. Vine and R. A. Smith, elecfrom Prescott, trici Jerry ns, passed took thru dinWickenburg Wednesday and ner with Mrs. Olzer an old friend and former resident of Prescott. Miss Kitty Mautz. who has been her Mrs. of visiting Sayers Station, sister, returned Nick to Phoenix Oberon Tuesday. State Engineer Goodwin was in town Tuesday, Lee Stayton, brakeman on the "Parker Cut-Off," is taking a 30 day vacaion. Brakeman Shots is filling his place while he is away. Travelers over the Phoenix to Wicktell us is better condition ever been; also the enburg now in highway highway that than the west it road has toward the Colorado river is in first class condition. Leonard White of the Mildred Mine at Stanton was a visitor here Wednesday. Receiver Plunkett, who represents the legal arm of the Court in the unaffairs of the defunct Central is our soon in an visit settled Bank of Wickenburg, city expecting endeavor which to to clean up the affairs of the bank "went fluey" over two years ago. George Campbell was in from his stock ranch at Forepaugh Tuesday Emmett Morrison, accompanied by Mrs. Morrison, formerly Miss Lilly Akin, were Wickenburg visitors Wednesday. Harry Cowell is reported to be suffrom a bad case caused by injuries a oning fering of received blood pois- in fall several days ago. Harvey Grant of the Wickenburg Drug Company was reported quite ill the forepart of the week. The "S. and S." Darkey Minstrels Baxter's Hall last evening and a brass gave When everybody packed the enjoyed band good show. their street concert, Willie Worthington wondered how he got into Los Angeles so soon. It was a good show, and a welcome surprise to Wickenburg. The Abe Lincoln mine shipped another load of concentrates last week to the Hayden smelter. Ores of the Abe Lincoln mine, 13 miles northeast of Wickenburg, are self-fluxing. The returns indicate 4 3-4 per cent of copper. Direct shipping ore runs about 18 per cent, while the millheads 5 per cent, or thereabouts. Wickenburg is the shipping point. The barber shop building and fixtures to of the defunct is learned, belonging Wickenburg sold the Central depositors few days bank, it was a ago to Hy Thofern for $150. Mr. Beattie, clerk at Tarbutton's store, was in the deal. The shop occupies a 50-foot lot next to the Brayton company's store. Mrs. J. R. Dunn, widow of Jerry Dunn, the barber, who died December 29, is planning.to settle up the estate in Wickenburg, preparatory to leaving for California to live with her sister. On January 25 Congress announces