735. Bank of Winslow (Winslow, AZ)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
October 4, 1924
Location
Winslow, Arizona (35.024, -110.697)

Metadata

Model
gpt-5-mini
Short Digest
d7a6bdc2

Response Measures

None

Description

The Bank of Winslow was closed by the state bank examiner in early October 1924 after reserves fell below the legal limit. The state banking department took the institution in charge and a receiver (J. S. Dodson, later A. T. Hammons as ex-officio receiver) administered the defunct bank. No run or depositor agitation is described in the articles; the closure was by regulatory action and the bank remained defunct with receivership litigation and eventual dividend distributions.

Events (4)
1. October 4, 1924 Suspension
Cause
Government Action
Cause Details
State Bank Examiner A. T. Hammons ordered the main bank and its branches closed after the bank's reserve had fallen below the legal limit for the third time within two months.
Newspaper Excerpt
The Bank of Winslow, Winslow, Arizona, failed to open its doors Saturday morning. At the same time the two branch banks ... were ordered closed following the arrival of State Bank Examiner A. T. Hammons, to investigate the condition of the Bank of Winslow.
Source
newspapers
2. October 10, 1924 Receivership
Newspaper Excerpt
Hammons was called in to take charge Friday evening ... Bank Examiner S. J. Dodson is now in charge. ... The call to the examiner was made at that time to best conserve the interests of depositors and investors.
Source
newspapers
3. October 17, 1924 Other
Newspaper Excerpt
The inventory of the Bank of Winslow, with branch banks at Holbrook and St. Johns, was filed Tuesday morning with the clerk of the superior at Holbrook by Bank Examiner ... The inventory fills an even one hundred pages of tightly spaced type matter ... The report discloses the banks had depositors to the number of 1,597, divided as follows: Bank of Winslow, 759 ... total deposits ...
Source
newspapers
4. October 31, 1924 Other
Newspaper Excerpt
Announcement that negotiations are now in progress which may make possible the early payment of a dividend of approximately 25 cents on the dollar to depositors of the closed Bank of Winslow was made yesterday by State Bank Examiner A. T. Hammons.
Source
newspapers

Newspaper Articles (19)
1. October 10, 1924 The Winslow Mail Winslow, AZ
Article from The Winslow Mail, October 10, 1924

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WINSLOW BANK WITH BRANCHES CLOSED DOORS LAST SATURDAY The Bank of Winslow, Winslow. Arizona, failed to open its doors Saturday morning. At the same time the two branch banks of the Bank of Winslow. one at Holbrook, county seat of Navajo county, and one at St. Johns, county seat of Apache county, were ordered closed following the arrival of State Bank Examiner A. T. Hammons, to investigate the condition of the Bank of Winslow. Bank Examiner S. J. Dodson is now in charge. Hammons was called in to take charge Friday evening, after a meeting of the bank's directors at which it was decided that the bank's reserve for the third time within two months had fallen below the legal limit. On both former occasions the reserve was built up to the satisfaction of the state official. The call to the examiner was made at that time to best conserve the interests of depositors and investors. Not a trace of suspicion is attached to the management of the bank, and confidence is expressed that within a few weeks or months the bank's affairs will have been straightened out and depositors will be paid dollar for dollar. No excitement prevailed either here or in the towns of the branch banks, depositors facing the tie-up of their resources with a greater patience and less ill-feeling than probably was ever manifest in the unexpected failure of a financial institution the size of the Bank of Winslow. Immediately after it became known Saturday morning that the bank had been closed. hurried efforts were made to interest Phoenix people in taking over the affairs of the bank. so that the close would be made as brief as possible. Negotiations were entered into with H. J. McClung, president of the Phoenix National, also president of the Arizona Central at Flagstaff with branches in several northern Arizona cities, and also an officer in a large Los Angeles bank. The stress of other business prevented Mr. McClung making a trip to Winslow as he had hoped he might. A message was received from McClung last evening from Los Angeles, by Sam Proctor, publisher of The Winslow Mail, as follows: "Find it impossible to postpone my trip which will require about two weeks. Sincerely trust everything will be worked out satisfactorily to all by the time I return." A meeting of depositors was held at Masonic hall last Sunday afternoon at which time a petition was sent to Governor Geo. W. P. Hunt, asking that in the event the appointment of a receiver was necessary that an outside man, and one who is an expert in banking matters be appointed. Another meeting of depositors was held Tuesday evening in the city hall at which a committee was named to conier with Mr. H. J. McClung in the event that he should come to Winslow to investigate affairs. At that time Mr. McClung had stated that it was possible that he might arrange his affairs so as to make the trip here. However, a larger business matter pending, which called him to British Columbia developed, and the wire of last night precluded the possibility of Mr. McClung's visit here for a matter of at least two weeks. On May 12, this year, the Bank of Winslow was reorganized, with the absorbtion of the Arizona State Bank of Winslow, and the Merchants and A Stockgrowers Bank of Holbrook. branch was established at St. Johns at that time. The bank was capitalized at one hundred fifty thousand dollars. Resources totaled more than one and three quarter millions. The last statement issued, at the close of business June 30, showed deposits subject to check of more than seven hundred fifty-one thousand, and total

2. October 17, 1924 The Winslow Mail Winslow, AZ
Article from The Winslow Mail, October 17, 1924

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INVENTORY OF BANK EXAMINER IS FILED WITH CLERK OF COURT The inventory of the Bank of Winslow, with branch banks at Holbrook and St. Johns, was filed Tuesday morning with the clerk of the superior at Holbrook by Bank Examiner Examiners have been working J.S. court Davis Dodson. Dodson day Monday, and and night, since a week ago was this report, which late Monday to finished prepare contains evening. inventory a conof the three banks, statements of an acindividual solidated The full statement receivable, each; note of bill or the of the three banks, the the borrower, the the due count each of every date with and name given, the date due, the name of every amount on deposit at note amount; and the was depositor the an time acclosed its doors; of the stocks, securestate, furniture ities, the counting bank real institutions; bonds, and fix- the of the three of owners and the of in the savings names tures their deposits amount accounts; what certificates of deposit; was branch and other of the three due time every to phase minute banks, banks' detail. and liabilities and resources in The inventory fills an even one hundred pages of tightly spaced typematter, and, if the whole rewas in newspaper type, it would port in written regular printed fill about form, forty-five or fifty columns. A brief and incomplete analysis of the lengthy report discloses that the the banks had depositors to of 1,597, divided as Bank of Winslow, number three In the 759, of follows: $626,- with subject to check in the Holbrook with $171,719.61 to depositors, 346,97; deposits branch, depositors subject 491 check, and at St. Johns, 347 with $79,915.31 subject to check. The depositors of course were mostfrom Winslow and Navajo county, but ly quite a number of depositors resided in New Mexico and California, and one depositor in the Bank of Winslow, Anna Bauerbach, lives at Muscatine, Iowa. The total sum in the three savings accounts is $215,238.79 The Bank of Winslow had 520 savings deposits with total on deposit of $101,169.23. The a Holbrook bank had 135 depositors represented in the savings account deand $9,099.93 on At St. Johns there were 100 partment, savings deposit. deposit. depositors, with $14,959.63 on were in the three 322 time 29 of were the old Arizona over There from deposits, which State banks Bank. held of Winslow held containing in all the sum deposits, The Bank bank 256 time had of $376,610.84. The Holbrook with Johns there were but the 83 St. time deposits, $62,740.38. four $1,417.75. of At time deposit accounts, with in time of Winslow ranged way Bank The sums deposit all latter the in sum the from $9.00 to $60,000, the held by The Navajo County Live, Stock company. Other large depositors among the time depositors were Chas. with $10,450; Beatrice F. Bly, and The Wm. H. Kirsch $12,000 Dagg company with $20,000. individual accounts to from one cent to check The vary subject three above There were acof one cents two held by men, counts fifty report, thousand. mentioned Winslow in An- the and one by a Prescott depositor. Prescott man held an account two and a deposit other of cents, Winslow of party. three cents was kept by a were out of the 759 depositors Bank of Winslow 67 There in the deposits Two below $1, and 29 above $1,000. accounts above one The exact of $50,000. ranged $30,000 figure is and mentioned account the above last account $54,and was the of Wm. H. Dagg. The 902.57, personal Dagg amounted Mercan- to tile company's deposit $34,986.47. The 491 individual deposits subto check of the Holbrook branch much as the Bank of 18 over $1,000; over with ranged ject deposits Winslow, six deposits four over $10,000, and of the latter held state treasurer. Hubbs, $5,000; $32,500. Other by Holbrook Wayne large depositors in the branch at were J. S. Hulet as trustee. $19,000; J. S. Hulet as receiver, $21,000; Navajo county treasurer, $9,621.35 and the of Holbrook, $5,000. had $20,000 seat Dagg town branch. deposited with Wm. the H. the individual acat the St. Johns of Apache was county county counts Among the branch, deposit heaviest. the Two accounts were held by the counone an inactive account of $32,000, ty, $12,937.67. There and the other account were but seven other amounted to more than $1,000 accounts Bank each. that of In the note case of the were held a total of 525 from modest amounts notes, Winslow varying $40,000. of $100 or less to almost The nad for third name)

3. October 31, 1924 The Coconino Sun Flagstaff, AZ
Article from The Coconino Sun, October 31, 1924

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PLANS LAUNCHED TO DECLARE DIVIDEND FOR WINSLOW BANK Announcement that negotiations are now in progress which may make possible the early payment of a dividend of approximately 25 cents on the dollar to depositors of the closed Bank of Winslow was made yesterday by State Bank Examiner A. T. Hammons. Developments have been favorable enough in regard to the institutio. that Mr. Hammons has not yet placed the institution in the hands of a receiver, although his department has taken it in charge. Mr. Hammons spent most of last week there going over the report of examiners and conferring with business men of Winslow. One plan now under consideration is to have another bank established there, to take over the paper of the closed institution which can be realized on at maturity. That move, it is believed, would make possible the immediate dividend of close to 25 cents on the dollar. Additional dividends would be paid as other "frozen" paper is liquidated, said Mr. Hammons. Most of the paper held by the closed bank is that of morally responsible persons who cannot possibly pay now, but who will eventually clear their obligations, Mr. Hammons said. Their lack of funds, he said is due to reverses suffered during the after war depression period.

4. October 31, 1924 The Winslow Mail Winslow, AZ
Article from The Winslow Mail, October 31, 1924

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of scarlet fever have been Winslow, especially among children. The homes are being put in strict quarantine, and there seems to be no danger of an epidemic becoming general. Democratic Rally This year's political campaign will wind up in a blaze of glory Monday night at a big rally at Kelly's Pastime hall. All of the county democratic candidates who can be in the city will appear on the platform and make brief addresses. Tools Being Repaired The tools and drills from the Holbrook oil well at Holbrook, were brought to the Old Trails Garage in Winslow this week for sharpening and repair. As soon as the equipment is in shape it will be returned to the well and drilling will he resumed. Jerome Beats Winslow Jerome came up out of the Verde valley Saturday afternoon and took a perfectly good football game away from the home boys by the score of 7 to 6. Tomorrow the Winslow boys will go to Holbrook and take their revenge out on the Holbrook team. Old-Timer Dies Jose A. Gonzales, an old-time resident of Winslow, died last week after a long illness. Jose suffered from stomach trouble and had been unable to work for some months. He had lived in Winslow for about thirty years. Concrete Mixer Broke The big concrete mixer being used on the highway work west of here broke down last week when work of pouring was started on the bridge in Tucker Flats. While new parts for the machine were being awaited a smaller mixer was used in minor concrete jobs on the road. Colored Revival Rev. P. P. Mellon, pastor of the First Baptist church of Flagstaff (colored) is holding revival services in Winslow this week at the colored church on East Third street. The meetings began Tuesday evening and will continue until Sunday evening. Hot Off The Wire A. telegram instrument will be installed in the office of the DavisBryan headquarters in The Mail building next Tuesday afternoon, and an operator will keep his ears glued to the ticker SO that Winslow people, if they are in touch with The Mail, will get their election dope just as fast as returns can be received from over the county, state and nation. Buys Crozer Place George Wrench, Santa Fe engineer, on Monday of this week purchased the Bill Crozer residence on West Second street, at the corner of Hicks avenue. Mr. Crozer is now located at Santa Rosa, California, but lived here until a few months ago. Mr. and Mrs. Wrench will move into the place they have just purchased and will rent their property on Third street. Puts Show on Bum The home talent show which was being planned by the Knights of Columbus of Winslow has been temporarily called off owing to the fact that two of the star performers have recently left town. They were Bud Friday and Ted Otera, both of whom had important roles in the play. Both were employed at the Bank of Winslow, and when the bank closed its doors Friday and Ortega left to fill positions in other cities. To Open Hotel Mrs. Mae Cummings, well-known Winslow business woman, will within a day or two open a hotel at 116 Kinsley avenue, which will be known as the Hotel Delmar. The hotel will be modern in all ways, with running hot and cold water, and other conveniences. Mrs. Cummings has been in the hotel business before in Winslow, at one time having been proprietor of the Statler. She more recently conducted the rooming house over the Opera house on First street. Not Loaded Down Russell Hall's new passenger airplane was loaded but not loaded down when he, W. W. Franklin and Melvin Rushing, made a business trip to Holbrook Tuesday. Not only were there three people in the plane, but a lot. of auto supplies, springs, etc., were carried. Next Sunday the three will take a bunch of supplies to Cooley for the Franklin-Overland company. Hall has been carrying a number of passengers on short flights above the city. Woman's Club Meeting The Women's club held one of their interesting meetings last Friday afternoon, and delegates to the Northern Arizona district convention at Clarkdale this week were elected as follows: Mrs. Bruce Matthie, Mrs. Des Mahoney, Mrs. E. T. Matthews and Mrs. E. E. Friday. An entertaining program was rendered, on which ap peared Miss Marie Carter, who gave

5. March 27, 1925 The Winslow Mail Winslow, AZ
Article from The Winslow Mail, March 27, 1925

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(Copyright, W. N. U.) RECEIVER'S STAFF CHECKING CLAIMS ON DEFUNCT BANK Claim blanks from depositors in the defunct Bank of Winslow have all been filed, and Judge J. E. Crosby, Judge of the superior court J. S. Dodson, receiver, and Mrs. Stanley Pincetl, secretary, have begun the work of checking. Over 2500 blanks were filed with the receiver, each of which must be compared by each of the three inspectors and checked against the original records. The work is exceedingly tedious nd not more than about 50 a day can be checked. Mr. Dodson states that $160,000 has been paid on the bills receivable against the bank; $76,000 paid to the war finance board during the last few few weeks. Since the close of the old bank on October 3, the expense of operating, which includes all salaries, extra help, and bills of every kind, has been less than $4,000. All building belonging to the defunct bank have been rented and are bringing in $600 per month, which goes to the credit of depositors. Over $1200 has been collected on interest, which has also been turned over to the depositors' fund. The bank is interested in 27,000 head of cattle and 35,000 head of sheep, which outfits are being operated at no expense to depositors, but, owing to the state of the stock market, at no great gain. Mr. Dodson and his staff are working day and night to check up on the claim blanks, and exerting every energy to conserve the assets for the benefits of the depositors.

6. September 4, 1925 The Winslow Mail Winslow, AZ
Article from The Winslow Mail, September 4, 1925

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HOLDERS OF BANK STOCK MUST PAY UP IMMEDIATELY Rumors to the effect that an extension of time has been granted the stockholders of the defunct Bank of Winslow in the payment of the 100 per cent assessment announced in last Friday's issue of The Winslow Mail to have been levied against their stock, are untrue, according to a statement made by J. S. Dodson, receiver of the bank, in an interview yesterday morning. "It is being generally circulated about town," Mr. Dodson said, "that the stockholders of the bank have been given until January 1 to meet their liability. Such is not the case. The bank has been closed for 11 months, during which time the stockholders have had sufficient time to acquaint themselves with the state banking laws and to make arrangements for the payment of this assessment." Since the assessment has been levied, a number of stockholders already have paid their amounts in cash and the remainder of the stockholders' liability must be enforced for the protection of the depositors, Mr. Dodson said. Before the present banking code was passed, petitions and requests from all parts of the state poured into the legislature and governor, demanding that a banking code be passed that would give the depositors in all state banks a maximum amount of protection. Such a law passed and the superintendent of banks is compelled to enforce it. Mr. Dodson states that in his capacity as receiver of the Bank of "Winslow and a representative of the depositors of the bank that that law will be enforced without fear or favor. The recently-formed depositors' committee is proving a great help in bringing about a solution of the problems of the bank, he said. The last meeting of the committee with the receiver was held Wednesday night.

7. October 6, 1925 The Winslow Mail Winslow, AZ
Article from The Winslow Mail, October 6, 1925

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SUITS AGAINST WINSLOW BANK ASK FOR $161,909 The Judgments totaling $161,909 against the defunct Bank of Winslow and State Superintendent of Banks A. T. Hammons, as receiver of the institution, are sought in complaints filed last week in the United States District Court, district of Arizona, Prescott division. The First National Bank of Albuquerque, New Mexico, is complainant in the larger action, seeking judgment in the sum of $137,210.56. This amount, the complaint claims, is due the plaintiff on notes held by it. The Merchants and Stockgrowers Bank also is made defendant in this action. In addition to the judgment, the Albuquerque financial institution petitions for an order to enjoin the bank and Receiver Hammons from paying any other claims of the defunct bank or from disposing of its assets in other manners. C.S. White is the complainant in the other action, directed specifically against Mr. Hammons as receiver of the defunct bank. He asks judgment in the sum of $28,924, as the assignee of John R. Hulet, trustee a depositor in the bank to that extent. Mr. White alleges that his claim against the bank has been duly and legally presented to the receiver and his only response after repeated overturs, has been a formal denial blank, which read as follows: "Your claim against the Bank of Winslow was rejected for the following reasons." According to the plaintiff, no reasons were stated for rejecting the claim.

8. October 9, 1925 The Coconino Sun Flagstaff, AZ
Article from The Coconino Sun, October 9, 1925

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TWO SUITS AGAINST WINSLOW BANK ASK $161,909 VERDICTS Judgments totaling $161,909 against the defunct Bank of Winslow and State Superintendent of Banks A. T. Hammons, as receiver of the institution, are sought in complaints filed in the United States district court, district of Arizona, Prescott division. The First National bank of Albuquerque, N. M4, is complainant in the larger action, seeking judgment in the sum of $137,210.56. This amount, the complaint claims, is due the plaintiff on notes held by it. The Merchants and Stockgrowers bank also is made a defendant in this action. In addition to the judgment, the Albuquerque financial institution petitions for an order to enjoin the bank and Receiver Hammons from paying any other claims of the defunct bank or from disposing of its assets in other manners. C. S. White is the complainant in the other action, directed specifically against Mr. Hammons as receiver of the defunct bank. He asks judgment in the sum of $28,924 as the assignee of John R. Hulet, trustee, a depositor in the bank to that extent. Mr. White alleges that his claim against the bank has been duly and legally oresented to the receiver and his only response, after repeated overtures, has been a formal denial blank, which read as follows: "Your claim against the Bank of Winslow was rejected for the following reason." According to the plaintiff, no reasons were stated for rejecting the claim.

9. October 30, 1925 The Coconino Sun Flagstaff, AZ
Article from The Coconino Sun, October 30, 1925

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WINSLOW BANK RECEIVER REMOVED TO PHOENIX Word was received in Holbrook early this week to the effect that J. S. Dodson, receiver of the defunct Bank of Winslow since his appointment last fall, had resigned the receivership, and the state banking department issued an order to remove the offices from Winslow to Phoenix. The office will be closed after the affairs are cleaned up this week. The resignation of Mr. Dodson does not come as a surprise, since he has at different times mentioned such intentions during the summer and early fall, having other business interests in view to occupy his attention. However, it is said that recent action taken by the Babbitt Brothers in protest to a receivership fee asked, may have possibly precipitated the action taken by Mr. Dodson in resigning from his post. The removal of the receivership offices from Winslow is in line with the governor's recent proposal, in the matter of conservation, and as announced through the press of this county a few weeks ago, it is reported. The business of the defunct Bank of Winslow will be conducted in the offices of the State Banking department at Phoenix, and will require the services of a stenographer, thus reducing the operating expenses to a minimum, which should be welcomed by the depositors. The legal end of the business will be conducted by Attorneys Sapp & McLaughlin, as in the past, in the matter of collections for the defunct Bank of Winslow on a commission basis.-Holbrook Tribune.

10. January 15, 1926 Douglas Daily Dispatch Douglas, AZ
Article from Douglas Daily Dispatch, January 15, 1926

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MAY BAR JUDGE PHOENIX, Jan. 14.-J. E. Crosby, superior judge of Navajo county, was ordered today to appear before the state supreme court on January 30 at 10 a. m. to show, cause why he should not be prohibited from sitting in several legal matters which have grown out of the closing by the state bank examiner of the Bank of Winslow and its branches at Holbrook and St. Johns. The order to Judge Crosby was issued on the petition of A. T. Hammons, state superintendent of banks and ex-officio receiver for the Bank of Winslow.

11. January 22, 1926 The Winslow Mail Winslow, AZ
Article from The Winslow Mail, January 22, 1926

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SUE ON FIFTY NOTES OF OLD DEFUNCT BANK TOTAL $45,000 Suit on more than fifty notes due to the old defunct Bank of Winslow, is being brought this week by Sapp & McLaughlin, attorneys for the receiver, according to announcement of S. B. Smith, representing A. T. Hammons, receiver of the bank, who was in Winslow on business in connection with settling of the affairs of the defunct institution. According to Mr. Smith, the notes being sued on will aggregate in the neighborhood of $45,000, and there yet remains notes totaling about $200,000 which will be collected by suit also as soon as the present ones are started, which will be within the next few weeks. "Due to the fact that debtors of the defunct bank, have not shown a willingness to pay up, the suits were instituted as a last resort, Mr. Smith said, while here Wednesday, in discussing the legal action, "and unless many more against whom we hold notes will make an effort to pay up by the time these suits are disposed of, we will of necessity be forced to bring similar action against them," he added. The present suits will be filed in Holbrook during the latter part of this week or the first part of the next, by attorneys Sapp & McLaughlin.

12. May 7, 1926 The Winslow Mail Winslow, AZ
Article from The Winslow Mail, May 7, 1926

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# COUNTY CLERK # SUMMONED IN # FEES DISPUTE PHOENIX — George E. Waite, clerk of the superior court of Apache, county, has been cited by the supreme court in an alternative by the court, to appear on May 8, 1926, at 10 o'clock and show cause why the writ should not be made permanent. The alternative writ directs the clerk to file, without charging any fee, the demurrers and plea in bar, of Andrew T. Hammons, state superintendent of banks and ex-officio receiver of the Bank of Winslow, in the case of George Jarvis, county treasurer of Apache county against Hammons as receiver of the bank. According to the petition filed by Mr. Hammons asking for the writ of mandamus, Waite, as clerk of the court, refused to file the demurrers and plea in bar for Mr. Hammons without the payment of a filing fee. Mr. Hammons, in his petition, states, that he had obtained an opinion from the office of the attorney general which stated that as a state official he did not have to pay the filing fee, and that he sent both the papers to be filed and the opinion to the clerk on April 20. On April 22, the clerk refused to file them and sent them back, acting under an opinion from the county attorney of Apache county that a fee must be collected. The question as to whether Mr. Hammons, as ex-officio receiver of the bank, is a state official, will be the main point to be determined in the hearing of the matter. He contends that he is, while Apache county officials contend that he is not acting in the capacity of a state officer in that instance.

13. May 7, 1926 The Coconino Sun Flagstaff, AZ
Article from The Coconino Sun, May 7, 1926

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APACHE CLERK WON'T TRUST STATE FOR FEES An unusual question in law presented itself to the supreme court which in an alternative writ of mandamus cited George E. Waite, clerk of the Apache county superior court to appear May 8, and show why the writ should not be made permanent. The writ directs the clerk to file without fee the demurrers and pleas in bar of Andrew T. Hammons, state superintendent of banks and ex-officio receiver of the Bank of Winslow in the case of George Jarvis, Apache county treasurer against Hammons. Hammons petition says Waite refused to file the papers without payment of a filing fee. Attorney General Murphy ruled that Hammons, as a state official, was not required to pay a fee. The question of whether he is a state official while acting as ex-officio receiver of the bank will come up at the hearing. o

14. July 30, 1926 The Coconino Sun Flagstaff, AZ
Article from The Coconino Sun, July 30, 1926

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WINSLOW BANK FILES SUIT FOR BIG SUM A suit filed by A. T. Hammons as state bank superintendent, against T. M. Quebedeaux for the collection of more than $36,000 alleged to be due the plaintiff as receiver for the defunct Bank of Winslow on two notes was begun in the federal district court before Judge Fred C. Jacobs and a jury. The bank examiner, in his complaint, alleges that Quebedeaux, under the firm name of the Aztex Sheep company, borrowed money on two notes from the Winslow bank, which subsequently failed, one note being for $29,920.14, signed on April 1, 1924, and the other for $8,209.78 on May 12 of that year. Payments have been made on both of the notes but a total of $36,629.92, with interest at eight percent and attorney fees of ten percent remains to be paid, the complaint states. In resisting the case, the defendant alleges that at the time the notes were signed, he was acting in the capacity of manager for the Aztex Sheep company, a concern operated by the Arizona State bank, and that at no time did he appear as principal in the matter, nor was he individually concerned in the loan. The banking department is represented by Sidney Sapp and D. E. McLaughlin of Holbrook and Ellis and Byrne of Winslow. The attorneys for the defendant include C. B. Wilson and C.H. Jordan of this city and Joseph H. Morgan of Prescott.

15. August 27, 1926 The Winslow Mail Winslow, AZ
Article from The Winslow Mail, August 27, 1926

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DEFUNCT BANK CASES SETTLED FEDERAL COURT PRESCOTT - Nearly a score of cases arising out of the closing of the Bank of Winslow and set for trial before the federal district court and the superior courts of Navajo and Apache counties were settled this week when attorneys for A. T. Hammons, state superintendent of banks, representing the defunct institution, and for the various plaintiffs which included White and the First National Bank of Albuquerque, settled the suits. The case which brought all this to a focus was that of the Albuquerque bank against Hammons and the Winslow bank, with George Jarvis, treasurer of Apache county, appearing as an intervenor. The settlement of the cases, which wipes the heaviest part from the calendars of the Apache and Navajo counties, was pursuant to the consent of Judge Crosby of Navajo county, before whom the receivership is recorded. The only litigation still remaining before the federal court is the claim of the Apache county treasurer against the Bank of Winslow and which, the attorneys for the bank have assured the various plaintiffs, will in no way affect the settlement of the other issues. Favour and Baker of this city represented the plaintiffs in the bank cases, D. E. McLaughlin and Judge Sidney Sapp appearing for Mr. Hammons and the Winslow bank, while the Apache county official is represented by Isaac Barth.

16. September 3, 1926 The Winslow Mail Winslow, AZ
Article from The Winslow Mail, September 3, 1926

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liability is statutory, and being correct on this contention the third question will automatically be adjudicated. Inasmuch as the capital stock of the defunct Bank of Winslow amounts to $150,000, a hundred percent levy against the stock under the statute would mean that a like amount should be paid to the receiver to be distributed as dividends to the depositors. There is no reason to believe that, if the banking department's contentions are upheld and the suit is won. that at least $100,000 can be co1lected from the stockholders, Mr. Sapp said here yesterday, in whic event a dividend of from 10 to 15 percent can be paid depositors. So far one dividend of 25 percent has been paid and another of 15 percent is to be paid immediate ly, making a total of 40 percent. I' the present suit is won, togethe with realization on other assets th department expects to realize on Sapp declared, that he believes the dividends in excess of 75 percer # will eventually be paid depositors in the defunct bank.

17. September 3, 1926 The Coconino Sun Flagstaff, AZ
Article from The Coconino Sun, September 3, 1926

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BANK OF WINSLOW TO PAY DIVIDEND 15 PERCENT OCTOBER 1 Winslow depositors who suffered financial loss when the old Bank of Winslow failed in 1924, will receive a dividend of 15 percent of their loss on or before October 1, according to a report phoned to Winslow yesterday by Judge Sidney P. Sapp of Holbrook. This dividend is the result of decisions recently rendered in Federal District court at Prescott, in which two claims were assigned to the Bank of Winslow. The assignment of the two claims resulted in a third claim being assigned to the bank without court action. The three claims totaled $48,900.00. The claim of C. S. White against the Bank of Winslow in the amount of $27,000.00 and the case of G. E. Greer, against the bank for $5,900.00, in which Greer and White acted as trustees, were assigned to the defunct local institution. In view of these assignments, the case of the First National bank of Albuquerque, N. M., for $16,000.00 was also assigned to the bank. According to Sapp and McLaughlin, Holbrook law firm which is representing the state banking department in the litigation, these assignments mean that depositors will receive the 15 per cent dividend in a short time. This dividend will make a total restitution to date of 40 percent. The first payment, which was made last fall was for 10 percent, and the second, for 15 percent, was made in the early part of this year.-Winslow Mail.

18. December 20, 1926 The Winslow Mail Winslow, AZ
Article from The Winslow Mail, December 20, 1926

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but promised to have a statement to make as soon as the full list of indictments was made public. He intimated that his statement would cover thoroughly his findings in connection with the bank's affairs as he found them through his year as receiver. Dodson Promises Statement Mr. Dodson was reticent about making a statement, when asked by a Daily Mail reporter what he thought of the indictments and said he did not care to make a statement about the conditions of the bank until the grand jury report had been made public. "Within the near future, however," Dodson said, "When the complete findings of the grand jury are made public, I promise to give a statement to the public. I believe I know as well as anyone, intimately the affairs of the Bank of Winslow, and was called to Holbrook to testify before the grand jury, but for some reason I was not called but was excused at the eleventh hour." The former chief examiner will leave this morning for Los Angeles on a business trip expecting to return to Phoenix the first of the year when he said he would make 2 statement. The Bank of Winslow closed its doors on October 4, 1924 and Dodson was in charge until November 1925.

19. October 14, 1927 The Coconino Sun Flagstaff, AZ
Article from The Coconino Sun, October 14, 1927

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Reverse Judgment In Bank Failure Judgement rendered by the superior court of Yavapai county in the case of George Jarvis, treasurer of Apache county, against A .T. Hammons, state superintendent of banks, was reversed in an opinion of the state supreme court released this week. The suit was brought by Treasurer Jarvis on behalf of Apache county to establish preferred lien on funds in the hands of the receiver in its favor, against Hammons, acting as receiver for the Bank of Winslow, an insolvent banking corporation. The Bank of Winslow was designated as county depository for Apache county and qualified to accept deposits of public funds up to the amount of $30,000. The bank furnished surety bonds for that amount. At the time the insolvent banking corporation was taken over by the receiver, it owed Apache county $67,111.43. The superior court gave judgment in favor of the receiver, which in the decision of the supreme court is ordered reversed and the case remanded with directions.