Bank of Horatio (Horatio, AR)

Episode Information

Episode Type
Run → Suspension → Closure
Start Date
August 8, 1930
Location
Horatio, Arkansas (33.938, -94.357)
Bank Type
state
Routing Number
81-0364

Metadata

Notes

Newspapers attribute closures to heavy withdrawals linked to regional drought; state banking department assumed control.

Events (3)

1. August 8, 1930 Run
Cause
Local Shock
Cause Details
Heavy withdrawals triggered by local drought-related distress undermining bank liquidity
Newspaper Excerpt
Heavy Runs By Depositors Said To Have Been Cause of Bank Failure
Source
newspapers
2. August 8, 1930 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed following heavy runs; contemporaneous reports cite insolvency/failure into state banking department
Newspaper Excerpt
The Bank of Horatio closed its doors Friday morning.
Source
newspapers
3. August 10, 1930 Receivership
Newspaper Excerpt
passed into the hands the state banking department Both banks attributed the closing to the failure of their [crops].
Source
newspapers

Newspaper Articles (2)

Article from McCurtain Gazette, August 9, 1930

Click image to open full size in new tab

Article Text

HORATIO BANK CLOSED DOORS LAST FRIDAY

Heavy Runs By Depositors Said To Have Been Cause of Bank Failure

The Bank of Horatio closed its doors Friday morning. The second run was made on the bank. Oh Boy, this Hoover prosperity is coming in chunks. They are failing all over the country. Our Idabel National is solid and is receiving new depositors daily.


Article from Star Tribune, August 10, 1930

Click image to open full size in new tab

Article Text

conference federal dry he pointed that the feed rates with the roads already by distress ed in their plan At least request cordance been already Illinois which asked mission to in some Tennessee

CROP REPORT MONDAY, TO BE GLOOMY Chicago Aug report issued Monday August and be gloomy docu ment Since August damage has been inflicted vegetables fruit and feed stuffs shortage of milk and butter veloping the great districts of southern and northern and to general heat around the city, but the rainfall was slight

IOWA GETS FIRST RAIN SINCE Cedar Aug fell out today the first July the drouth but too late large part of the corn half inch fell this causing overflow The downpour the county was much heavier. in some places cloud The was accompanied by high wind

OHIO CROPS HALF drouth lower the production of crops Ohio 50 per cent with corn, hay and potatoes the worst director of the Ohio agricultural experiment station here. today Wheat, said will suffer the least.

BANK FAILURES LAID TO DROUTH Little Ark Aug Prolonged drouth today was held responsible for the failure of two banks Bank of Horatio. in south west Arkansas capitalized at $35. 000, and the bank of Cove. capital and with deposits. passed into the hands the state banking department Both banks attributed the closing to the failure of their

NEBRASKA GOVERNOR ORDERS SURVEY

Lincoln ernor Arthur will not take part in President ference of governors at Washington next he today unless he that Nebrashas been damaged by drouth care advertise No raska state unessential the explained. He said he believed the crop yet net fair yield if rains are experienced. definitely the status of Nebraska, Governor rected the state department of agricuulture make an immediate sur vey of crop conditions

CENTRAL CANADA COOLER, GETS RAIN Aug in the were couraged by drop temper. ature of degrees from the heat of the Light showers fell central southern and border Manitoba and SasMedicine Hat eastern Alberta. was the only point in the western part Canada where the temperature exceeded degrees

FOREST FIRE SEEN FROM HOOVER CAMP

Orange Aug studying the drouth today President Hoover had brought more sharply his by sweeping forest fire just seven miles from his lodge As the flames toward the Rapidan camp. of marines turned out to supplement the efforts forest rangers and volunteer fighters There danger the lodge The blaze broke in Pine Grove hollow during the night

RED CROSS CHAIRMAN ASKED TO STAND

Aug. Cross chairmen throughout the United States asked today "stand by be ready drouth on the call of PresiHoover letter from John Barton Payne said the disaster call might for two three might not come but added: the President for the and be prepared follow his lead. Chapter the drouth urged act at once people are