Ouachita Valley Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: October 29, 1911
Location: Monroe, Louisiana (32.520, -92.077)

Metadata

Model: gpt-5-mini
Short Digest: b1e7c86a

Response Measures

None

Description

OCR in article spelled the bank name as Ouchata Valley Bank and the state as Ia.; corrected to Ouachita Valley Bank, Monroe, La. Article states the bank (among others) is now defunct or in the hands of receivers, indicating a receivership/closure. No run or depositor crowds are mentioned.

Events (2)

1. October 29, 1911 Other

Newspaper Excerpt: Context: promoter E. C. Drew of Monroe, La., arrested; several companies in which New Englanders invested are defunct or in receivers' hands, including Ouachita Valley Bank. This links the bank's failure to alleged promoter fraud.
Source: newspapers

2. October 29, 1911 Receivership

Newspaper Excerpt: The several companies, all of which are now defunct or in the hands of receivers, in which New Englanders are said to have invested money were ... Ouachita Valley Bank of Monroe, Ia., ... (Daily Kennebec Journal, Oct. 29, 1911). now defunct or in the hands of receivers confirms receivership/closure for the bank listed among defunct companies due to promoter's troubles.
Source: newspapers

Newspaper Articles (1)

1. October 30, 1911 Daily Kennebec Journal Augusta, ME

Article from Daily Kennebec Journal, October 30, 1911

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Article Text

Promoter Drew Under Arrest. Boston, Oct. 29.-E. C. Drew, of Monroe, La., who, it is alleged, has described himself as a "Financial doctor" and said to be one of the cleverest promoters in the country, was arrested, tonight, at a prominent hotel, charged with being a fugitive from justice in the Northern district of Alabama, where he is under heavy bonds for appearance for trial at the February term of the federal court. The federal authorities were led to believe that Drew proposed sailing from this port for Liverpool on Tuesday. People in New Haven, Hartford, Providence, Newport, Springfield, Portland, Biddeford, Bangor and Boston, as well as other places, are said to have been losers of money they invested in enterprises in which Drew is said to have been the leading spirit. The several companies, all of which are now defunct or in the hands of receivers, in which New Englanders are said to have invested money were the Chinere Land & Lumber Co, of Louisiana, San Juan Mining Co. of Denver, San Juan Bank & Trust Co. of Denver, Ouchata Valley Bank of Monroe, Ia., and the Fort Payne Fuel & Iron Co.