742. Security Trust & Savings Bank (Yuma, AZ)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
September 21, 1931
Location
Yuma, Arizona (32.725, -114.624)

Metadata

Model
gpt-5-mini
Short Digest
4d3d85e1

Response Measures

None

Description

The bank failed to open on Sept. 21, 1931 and was later described as defunct with a receiver (Roscoe F. Rupp) named by Oct. 30, 1931. No articles describe a depositor run; therefore this is classified as a suspension that led to closure/receivership. Cause not specified in the pieces provided.

Events (2)
1. September 21, 1931 Suspension
Cause Details
Article reports the bank failed to open on Sept. 21, 1931; no explicit cause (rumor, correspondent failure, or bank-specific insolvency) is given.
Newspaper Excerpt
FAILS TO OPEN YUMA, Ariz., Sept. 21.-(UP) The Security Trust and Savings bank, largest financial institution in the Yuma valley, failed to open its doors today.
Source
newspapers
2. October 30, 1931 Receivership
Newspaper Excerpt
Roscoe F. Rupp, Yuma accountant, has taken charge of the defunct Security Trust and Savings Bank of Yuma, Ariz. Rupp was recommended to be named receiver at a mass meeting of depositors held in Yuma . . . The bank curity Yuma, Ariz., Trust and Savings Bank of failed Sept. 21, 1931 . . . . (article date Oct. 30, 1931).
Source
newspapers

Newspaper Articles (3)
1. September 21, 1931 The World Coos Bay, OR
Article from The World, September 21, 1931

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Article Text

Today's Late News Flashes 23 DROWNED MANILA, P. L, Sept. 21.(UP) Twenty-three persons were drowned when a typhoon capsized a small boat off Negros today, according to reports received here. Highways in the southern island were inundated by the storm, but the force of the typroon was spent before it reached Manila. BOURSE NEAR LOWS PARIS, Sept. 21-(UP)Prices on the Bourse were around the lows at the close today. Bank of France closed at 125,000, against 14,290 Saturday; Suez at 11,350, against 12,500; Royal Dutch, 1,175, against, 1,370 and Canadian Pacific 407, against 451. FAIL TO OPEN Pittsburgh, Sept. 21.-(UP)Two Pittsburgh banks and subsidiary of one failed to open their doors today, the board of directors taking the action in the case of one bank and its subsidiary and the state closing the second institution. FAILS TO OPEN YUMA, Ariz., Sept. 21.-(UP) The Security Trust and Savings bank, largest financial institution in the Yuma valley, failed to open its doors today. The bank's last statement, dated July 10, 1931, gave the following figures: Loans and discounts $241,611,42; capital stock $50,000; surplus $40,000; deposits, $534,635.46; savings $152,033.76. It was the fourth bank to close here within 18 months. BANK CLOSED GARDNERVILLT, Nev., Sept. 21-(UP)-The Douglas county Farmers bank failed to open its doors this morning. Obligations of the bank were aproximately $120,000, and there was $20,000 cash on hand. Capitalization was $50,000. VALUABLE JEWELS STOLEN WHEATLY HILLS. L. I., Sept. 21.-(UP)-Jewels valued at $45,000 were stolen last night from the home of Elisha Walker, prominent New York banker, officials announced today. Two pearl necklaces and two diamond bracelets were among the jewelry taken. ELEVEN KILLED TOKIO, Sept. 21-(UP)Eleven persons were killed in violent earthquake that struck two Japanese prefectures today. Nine were killed in Saltama prefecture and two in Gumma prefecture. Many more were seriously injured. CAMPS TO CONTINUE SALEM Ore., Sept. 21-(UP) The 1932 National Guard encampment will be at Camp Clatsop and Fort Stevens as usual, Major General George A. White Said today.

2. September 21, 1931 The Spokane Press Spokane, WA
Article from The Spokane Press, September 21, 1931

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Article Text

Yuma (Ariz.) Bank Closes Its Doors Sept. Security Trust and largest Yuma valley, to open doors today the fourth bank close here within months

3. October 30, 1931 The Coolidge Examiner Coolidge, AZ
Article from The Coolidge Examiner, October 30, 1931

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Article Text

Southwest News Items Plans are nearing completion for the proposed Indian Hospital to be erected in Winslow, Ariz., at a cost of approximately $150,000. The Arizona State Fair this year will be from November 9 to 15, inclusive, at Phoenix There will be auto and horse races, stock shows and music furnished by two different bands. A ten-acre tract to be converted into an athletic field for Santa Fe, N. M., public schools has been purschool board Rechased from the by the American Santa Fe School of search. The purchase price was $3,000. The Chloride gold mine located of work a Arizona, twenty miles re-opened northwest giving Kingman, to crew of forty-five men. Cliff Carpenter aunounces that new equipment costing approximately $50,000 is being installed. The New Mexico Highway Commission awarded to E. J. Maloney of Gallup contracts for building the federal land project roads between Isleta and Los Lunas and at Laguna. Maloney's low bids on both projects were $109.195.29 and $84,916.15, respectively. Roscoe F. Rupp, Yuma accountant, has taken charge of the defunct Seas receiver. The bank curity Yuma, Ariz., Trust and Savings Bank of failed Sept. 21, 1931. Rupp was recommended to be named receiver at a mass meeting of depositors held in Yuma. Arthur J. McQuatters was named receiver for the Apache railway, operating between Holbrook and McNary, according to papers filed in Federal Court in Phoenix. Interest payments of $216,800 were defaulted. Thirty-five persons are employed by the line. Development of the site of the Sacramento Methodist summer assembly, near Artesia, N. M., is expected to proceed rapidly now with the completion of the organization of the board of control. The camp site has already been mapped and a survey is nearing completion. A full summer of archeological activity has been concluded by Dean Byron Cummings, head of the archeology department at the University of Arizona June state Arizona museum. and director From June of the 7 to 20, Doctor Cummings was in old Mexico and other countries of central America. One of the finest bands in the southwest, Winslow's Santa Fe all-Indian band, will play every day at the Arizona state fair, November 9 to 16, inclusive. At the famous La Fiesta de Los Angeles which was recently celebrated, this band was one of the surprise features. Arizona ginned 5,222 bales of the 1931 cotton crop prior to Sept. 17, according to a report issued by the DePhoenix. was Maricopa partment county of Commerce in in first place with 2,401 bales. Yuma county was second with 1,576. The total of last year's ginning was 10,443 bales. Work on this year's crop is still in progress. Rosie Villalous, 10-year-old Gallup girl, believes in miracles is now run "like other four girls" able after to spending and now play for years she as a Mr. in reand returned Mrs. cripple. to Tony her Rosie, Villalous, home daughter Gallup of Gallup, of cently from four months treatment in Denver's children's hospital where she was sent by the McKinley County Welfare Society. New Mexico had no local roads surfaced in 1930 but in previous years a total of 343 miles had been surfaced out of the 38,442 miles of existing miles were of local county roads. and A township total of 35,833 roads surfaced during 1930 according to the Bureau of Public Roads of the U. S. Department of Agriculture. At the end of the year the total mileage of county and local roads surfaced was 467,338. The depression in the "date" industry has ended at the University of Arizona in Tucson. Men students of the university at a recent mass meeting computed costs of a "date" at $1.98, voted that the coeds should pay one-half of the expense because of "critical business conditions" and agreed unanimously that the girls could ask for "dates" with propriety. The coeds, led by heads of thirty-two sororities and honor organizations, said "O. K.' Once the silver mining center of the world, Tombstone, scene of the recent "Helldorado," pageant, has one of the most glamorous and picturesque pasts of any town in the southwest. Today is just what its name suggests, a monument to the dead past. Half a century ago when its fabulously rich silver mines were pro-