Globe National Bank (Globe, AZ)

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ARIZONA BANK SUSPENDS

Globe, Ariz., Nov. 5.-The Globe National bank, capital $50,000 deposits $300,000 temporarily suspended today. Heavy drafts on cash on hand with no cash coming in from outside banks, forced the suspension.

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ARIZONA bank SUSPENDS

Globe, Ariz., Nov. 6.-The Globe national bank suspended today.

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Globe, Arizona, Bank Quits. Special to the Herald. Globe, Arizona, Nov. 6.-The Globe National Bank suspended today. Heavy drafts on its cash with no outside assistance possible forced the action on the bank.

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NATIONAL BANK OF GLOBE, ARIZONA, FORCED TO CLOSE By Associated Press. GLOBE, Ariz., Nov. 5.-The Globe National bank, with a capital of $50,000, and deposits of $300,000, temporarily suspended this morning. Heavy drafts on cash on hand with no cash coming in from outside banks forced the action. The full

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The Globe National Bank, of which A. G. Smith is cashier held a directors meeting this week, at which it was decided to suspend business temporarily. In a statement Mr. Smith assured depositors that the bank was solvent. Other Globe banks adopted the clearing house system.

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TREASURY DEPARTMENT, Office of the Comptroller of the Currency, Washington, D. C. November 9, 1907. Notice is, hereby given to all persons who may have claims against The Globe National Bank, Globe, Arizona, that the same must be presented to John H. Page, Receiver, with the legal proof thereof, within three months from this date, or they may be disallowed. WM. B. RIDGLEY, Comptroller of the Currency.

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TREASURY DEPARTMENT, Office of the Comptroller of the Currency, Washington, D. C. November 9, 1907. Notice is hereby given to all persons who may have claims against The Globe National Bank, Globe, Arizona, that the same must be presented to John H. Page, Receiver, with the legal proof thereof, within three months from this date, or they may be disallowed. WM. B. RIDGELY, Comptroller of the Currency.

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erts has returned from a visit to his old home in Cornwall, England, making the trip on the new Cunard liner Lusitania. While in midocean Mr. Roberts read the news of the suspension of the Globe National bank in the Cunard Daily Bulletin, a paper printed aboard ship and containing information received from all parts of the world by wireless telegraphy. The news of the bank's closing was contained in a five-line paragraph dated Globe, Ariz., and was printed less than twenty-four hours after the suspension of the bank. The paper is a souvenir that is highly valued by Mr. Roberts. The Lusitania on that trip brought $7,000,000 in gold to New York from England.

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TREASURY DEPARTMENT, Office of the Comptroller of the Currency, Washington, D. C. November 9, 1907. Notice is hereby given to all persons who may have claims against The Globe National Bank, Globe, Arizona, that the same must be presented to John H. Page, Receiver, with the legal proof thereof, within three months from this date, or they may be disallowed. WM. B. RIDGELY, Comptroller of the Currency.

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LOCAL FINANCIAL SITUATION.

While the present financial situation is blamed largely on New York financiers who, as has been shown, have the prosperity of the entire country in the palms of the hands, the local situation is in a large measure due to incidents that date back some time before Wall street put on the screws. Over two months ago a rumor, started through design or ignorance, became current on the streets, resulting in a run on the Globe National bank, which was checked after a few days. But in that short time there had been a rather severe drain on the available cash resources of the bank. At the time the rumor was put in circulation the bank was in splendid condition and the cashier had left the city on his vacation. No publicity was given the matter and in a few days it had been completely dissipated. Then came the sudden locking of the New York bank vaults against the rest of the country and the banking business was abruptly paralyzed resulting in the organization of clearing house associations throughout the country. This followed runs started on some of the largest banks of New York City in which millions were withdrawn by frenzied depositors. There had been rottenness exposed in a few financial institutions and confidence in even the strongest banks was either weakened or completely shattered. Quicker than any epidemic the fever of distrust spread and other banks were forced to suspend, not being able to realize on their securities on such abruptly precipitated notice. Several of these banks have subsequently resumed operations.

When Globe was struck by the financial stringency, rumors which were thought to have been dead and buried were revived and the bank which was first the partial victim of distorted public opinion was the first to suffer. That another should follow so soon after is not remarkable, as with the vault doors of its correspondents closed against it, rendering it helpless, it was in no position to withstand the same exaggerated feeling, fostered by unfounded rumors and further distorted and enlarged under the microscope of a constantly growing distrust that could not be checked.

This is the end of bank suspensions in Globe for with two victims this unseen but crushingly felt force must be content. The three banks remaining in operation have benefited to a very great extent by the withdrawals from the institutions which were forced to suspend and their resources are many times greater than they were previous to the present stringency. All of them are under territorial control and the bank examiner who is directly in charge of them, receiving daily reports in person, states that they are absolutely sound and able to meet every obligation. The examiner has no local interests and his statement must be taken at its full worth. Regarding the two suspended banks, of which circumstances have placed him in control, he has given out no statements but it is our sincere belief that those who have entrusted their funds to their keeping will have little cause for regret when their affairs are finally brought out of the chaotic condition into which unforseen events have thrown them.

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Notice to Depositors Receiver's Certificates are now ready for all creditors who have made legal proof of their claims against the Globe National Bank. H. D. MARSHALL, Jr., Receiver.

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of Clifton was appointed referee in bankruptcy vice J. F. Cleaveland, re-signed, and his bond fixed at $1,000. Thomas Smith was named United States commissioner at Clifton to succeed Mr. Cleaveland.

In the case brought in the United States court by H. D. Marshall, Jr., receiver of the Globe National bank, against George Ashby and Old Dominion Commercial company and George W. Shute garnishees, judgment was rendered for the garnishees, but execution of judgment was suspended pending the hearing of a motion for a new trial, which was continued for the term.

Judgments were rendered for the receiver of the GlobeNational bank against L. E. Wightman, H. P. Wightman, W. H. Butler, and H. J. Sims, also in the case of the receiver against L. E. Wightman and H. P. Wightman and in the case by the same plaintiff against F. C. Morello. In the case against A. J. Ross and G. J. Ridenour, garnishee, judgment was rendered for

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Marshall Returns-H

D. Marshall, Jr., receiver of the Globe National bank returned last evening from Bisbee where he was sent by the comptroller of currency to take charge of the First National bank of that city when its condition became known. Mr. Marshall caused the arrest of its president and cashier for alleged irregularities. Sev. eral days ago he turned over the bank to Permanent Receiver Lakin.

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GLOBE BANK RESUMES

Globe, Ariz, May 23.-The Globe Na. tional bank, which closed Its doors Nov. 4, after a running lasting several days, reopened this morning prepared to pay all depositors. The bank's capital is $50,000.

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Globe Bank Reopens

Globe, Ariz., May 23.-The Globe National bank, which closed its doors November 4, after a run lasting several days, reopened this morning prepared to pay all depositors. The bank's capital is $50,000.

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Globe, Ariz., Bank Reopens. GLOBE Ariz. May 23.-The Globe National Bank. which closed its doors November 4. after a run lasting several days. reopened today and prepared to pay all depositors. The bank's capital is $50 000.

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THIS BANK OPENED AGAIN

Arizona Institution Failed During Panic, But Paid Out. By Associated Press. Globe, Ariz., May 23.-The Globe National Bank, which closed its doors November 4, after a run lasting sev eral days, re-opened to-day prepared to pay all depositors. The bank's capital is $50,000.

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Bank Has Reopened

Globe, Ariz., May 25.-The Globe National bank, which closed its doors Nov. 4 after a run lasting several days, reopened Saturday, prepared to pay all depositors. The bank's capital is $50,000.

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Bank Reopens

Globe, Aris., May 25.-The Globe National Bank, which closed its doors November 4, after a run lasting sev. eral days, has reopened and is prepared to pay all deposits. The bank's capital is $50,000.