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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.
Globe National Bank (Globe, AZ)
Episode Information
- Episode UID
819301295- Episode Type
- Run → Suspension → Reopening
- Bank Type
- national
- Bank ID
-
81930national - Charter Number
- 8193
- Start Date
- November 4, 1907
- Location
- Globe, Arizona (33.394, -110.786)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
239c3761155319c7
Response Measures
Capital injected, Partial suspension, Full suspension, Books examined
Other: Receivership was appointed (H. D. Marshall Jr. as receiver) and bank was later reopened on local capital; legal actions and attachments pursued by receiver.
Clearinghouse involved: Yes (loan, examination, or other measures)
Events (6)
1.
April 25, 1906
Chartered
- Source
- historical_nic
2.
November 4, 1907
Run
- Cause
- Rumor Or Misinformation
- Cause Details
- Runs attributed to silly stories and rumors of instability circulated about the bank
- Measures
- Other local banks adopted clearing house restrictions limiting cash payouts; bank made statements assuring depositors it was solvent and would pay dollar for dollar
- Newspaper Excerpt
- which closed its doors on November 4, after two bad runs
- Source
- newspapers
3.
November 5, 1907
Suspension
- Cause
- Rumor Or Misinformation
- Cause Details
- Heavy drafts following runs and lack of assistance from outside banks forced temporary suspension
- Newspaper Excerpt
- temporarily suspended today. Heavy drafts on cash on hand with no cash coming in from outside banks forced the suspension.
- Source
- newspapers
4.
November 19, 1907
Receivership
- Newspaper Excerpt
- J. H. Page, territorial auditor, who has been named as receiver for the Globe National bank, left for Phoenix Sunday morning on official business and is expected to return to Globe this evening. H. D. Marshall, Jr., receiver of Globe National Bank files attachment ... H. D. Marshall, Jr., receiver of the Globe National bank returned last evening ... took charge ... as permanent receiver, National Bank Examiner Page transferring his duties to the First National bank. H. D. MARSHALL, Jr., Receiver. (multiple articles documenting appointment and actions.)
- Source
- newspapers
5.
May 23, 1908
Reopening
- Newspaper Excerpt
- The Globe National bank, which closed its doors Nov. 4, after a run lasting several days, reopened this morning prepared to pay all depositors.
- Source
- newspapers
6.
January 11, 1910
Voluntary Liquidation
- Source
- historical_nic
Newspaper Articles (20)
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Another Bank Closes. Globe, Ariz., Nov. 6 -The Globe National Bank suspended today, heavy drafts on its cash with no assistance from outside banks available forcing the action. The financial agent is on hand. The bank has a capital of $50,000 and deposits of about $300,000. Casbier Schmid: says all depositors will be paid in full.
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ARIZONA BANK IS EMBARASSED GLOBE, Ariz., Nov. 5.-The Globe National Bank, with a capital of $50,000; deposits $300,000, suspended temporarily today. The bank has the full legal reserve on hand. The cashier says that the bank will pay dollar for dollar. All banks here have gone on a clearing house basis and refuse to pay out more than $10 cash at one time.
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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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yesterday. Hold up Pension Vouchers. Washington, Nov. 6.-Word reached the treasury department yesterday that because of the reluctance to part with the currency they have on hand, national banks throughout the country are declining to cash pension vouchers, disbursing officers' drafts and other obligations of the government. Treasurer Treat took measures to relieve this condition and sent telegraphic advices to all subtreasuries to make prompt payments in currency to all persons holding such checks or drafts of what may be due them. These advices were as follows: "Any national bank forwarding to any sub-treasury office checks of United States disbursing officers, including pension checks for payment thereof, if properly endorsed when presented and said endorsements guaranteed by any national bank, currency will be shipped in payment thereof by express." Treat is taking all possible steps to relieve the tension caused by the money stringency and is, sending out hundreds of telegrams daily explaining the situation and suggesting remedial measures. Another Bank Suspends. Globe, Ariz., Nov. 6.-The Globe National bank, capital $50,000, deposits $300,000, temporarily suspended yesterday. Heavy drafts on the cash on hand with no cash coming in from outside banks forced suspension.
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San Carlos Indian agency, is a business visitor in the city. D. W. Wickersham returned to Safford Sunday morning after spending a week in the city on business. J. W. Waddle, Joe Cline and Ray Gillen of Cline are visitors in the city on business in the county building. E. F. Kellner has returned from Phoenix, where he spent a week with Mrs. Kellner, who is wintering in the Capital city. Mrs. Dolph Baatz is expected home this evening from San Francisco, where she has been purchasing holiday goods for the People's Store. Chuck Rogers, formerly sheriff of Gila county, who is now residing at Santa Monica, Cal., is shaking hands with Globe friends and looking after his local business interests. Judge and Mrs. F. S. Nave arrived home Sunday evening from Phoenix, where they spent fair week, the judge also attending to his duties as associate justice of the supreme court. Sheriff J. H. Thompson and Mrs. Thompson returned Saturday night from San Antonio, Texas, where they spent several weeks with their daughters, who are attending school there. Wiley E. Jones and George H. Crosby prominent Gila valley attorneys, are in Globe attending district court. Attorney Jones is looking after the legal interests of the Gila Valley railroad. Former Undersheriff Dave Heron came in from his silver mine Sunday, being summoned as a grand juror, but was excused by Judge Nave and returned to his mine yesterday afternoon. J. H. Page, territorial auditor, who has been named as receiver for the Globe National bank, left for Phoenix Sunday morning on official business and is expected to return to Globe this evening. Judge A. C. Baker of Phoenix arrived in the city Sunday evening on business in the district court. He is associated in the defense of R. H. Daniels, who will be tried for murder during the present term of court. Charles Edwards, one of the leading cattlemen of the Tonto country, is in Globe on district court business. Charley says that the range in that section is in the finest condition it has ever been at this time of the year and that the cattle business is flourishing.
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SHORT STORIES OF THE CITY Special Meeting of Masons-There will be a special communication this evening of White Mountain Lodge, No. 3, F. & A. M., for work in the M. M. Visiting brethren cordially invited. By order of the W. M. Baptist Services-Rev. R. D. Latter will conduct regular services at the Baptist church Sunday morning and evening, The morning subject will be: "Have Faith in God;'' evening, "The Ruler Who Was Almost Persuaded to Be a Christian." Services and Sunday-school at the usual hours. Paid Up Meat Bill.-The case against Mr. and Mrs. Ed Williams, charged with an alleged attempt to defraud their creditors, was dismissed after it had been taken to the grand jury room for investigation. The meat bill of the Globe Wholesale Meat company, which caused the action, was paid and the prosecution dropped. Governor Leaves Today.-After a day and two nights in Globe, Governor Joseph H. Kibbey and B. A. Fowler leave this morning. The governor will stop off for a day at Safford, where he will renew old acquaintances, and Mr. Fowler will return to Phoenix. New Receiver in Charge.-H. D. Marshall Jr. of St. Louis yesterday morning took charge of the affairs of the Globe National bank as permanent receiver, National Bank Examiner Page transferring his duties to the First National bank. Message from Santa.-The Palace Pharmacy has received an interesting message from Santa Claus, which is publishel in the shape of a regular open letter in their advertising space on page six. It will be found of interest to old as well as young people. Read it. After the Poundmaster.-There will be an interesting trial in Judge Thomas' court today following a complaint made yesterday by Supervisor Ryan against
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Documents Filed For Record. Arizona Copper Co. file proof of labor on 142 lode and 9 placer claims. J. N. Warden and wife to Bianes & Valdez, bill of sale, $700, 260 stock goats. Richard N. Campbell locates I claim in Copper mt. dist. New England & Clifton Copper Co. file proof of labor on 20 claims in Greenlee dist. H. D. Marshall, Jr., receiver of Globe National Bank files attachment vs. H. P. and L. E. Wightman for $2250 on 37 acres in sec. 2, 4 s, 22 e and n 1 lot 2, blk. 45, Pima. H. D. Marshall, Jr., receiver Globe National Bank, files attachment vs. L. E. Wightman, Wm. H. Butler and S. J. Sims, $5000 upon same land as above, also nw, se and W t se ne, 24, 6 s, 24 e and S 1/2 nw sw, and tract in nw, 33, 5 s, 24 e, lots 3 and 4, blk. 56, and part lot I, blk. 46, Pima (property in Globe). Julius Gribbert and James Talamantes claim 160 acres each and water rights on Eagle creek. Isaac and R. N. Campbell locates 1 claim in Copper mt. dist. John H. Cluff, widower, to E. S. Kimball and R. A. Shipp, deed, $3000, 65 acres in W 1 nw, 29, 6 s, 25 e. Hyrum Brinkerhoff and wife to w. H. and Edw. M. Claridge, deed, $100, 361 acres in se, 35, 6 s, 25 e. Carolota G. Valdez et al to Rev. Emile Barrett, bill of sale, $500, lumber house in Metcalf. Shannon Copper Co. files proof of labor on 9 claims in Greenlee dist. D. L. Dorsey locates 1 claim in Greenlee dist. J. P. Weatherby files proof of labor on 1 claim in Aravaipa dist. Simon Cisneros locates 2 claims in Greenlee and Copper mt. dist. Advance Mining Co. files proof of labor on 9 claims in Black Rock dist. and 19 claims in Clark dist. Robert Coalson et al locate 1 claim 40 mi. ne of Clifton. A. Hannum and wife to R. L. McAllister, deed, $300, lot 1, blk. 5, Smith's add., Safford.
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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 NATIONAL BANK WILL REOPEN TODAY Great Confidence Felt in the Future of the Institution. Globe, Ariz., May 22.-(Special.)The Globe National Bank, which closed its doors on November 4, after two bad runs, will re-open tomorrow morning at 9:30 o'clock. The bank will be re-opened entirely on local capital. The directorate is: Dr. W. A. Holt, president; E. M. White, vice president; Pat Rose, vice president; A. G. Smith, cashier; Fred C. Griffin, A. W. Snyder and J. J. Keegan, all Globe men. The capital stock is $50,000 and the surplus and profits $7,636.65. Much confidence is expressed in the institution and the first day's de+ posits will greatly exceed the amount drawn out.
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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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and this clears away any suspicion of a cloud on the title. Next week the work of building a stockade for the sinking a well at the site prisoneryand will be commenced, and from that time on work will be pushed in earnest and the walls of the new institution will soon be looming up. And if the predictions of some of the gentlemen to be connected with the work, come true, by the middle or latter part of next January, the building will be so far completed as to be ready for the prisoners." GLOBE NATIONAL REOPENSThe Globe National Bank which suspended November 5, 1907, after two runs had been made upon it, opened for business again Saturday morning. Concerning the reopening the Silver Belt says: The bank is being reopened with a capital stock of $50,000 and surplus and profits amounting to $7.all 4636.66, preparédato depositors in full. The officers are: Dr. W. A. Holt, president; E... M. White, vice presidents Pall Rose, vice president; A. G. Smith, cashier. The directorate includes the foregoing and A. W. Synnor. Fred C. Griffin and J. J. Keegan. While no outside capital is identified with the banks now, it is understood that negotiations are pending for the injection of new capital from New York City. It is also understood that the same interests which are identified with the Miami Copper company will be affiliated with the Globe National. When the bank suspended last November, it had more than its legal reserve of 25 per cent of its deposits on hand and could have survived the financial panic if the depositors had refrained from the runs on it. which were caused by silly stories circulated about its alleged instablity. A month
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LATE NEWS NOTES. General. A cablegram received from Kingston, Jamaica, from MinisterRuiz of Colombia reports that a tornado has destroyed the port and town of Santa Marta, Colombia. The New York anti-bucket shop bill was made a law Saturday when Governor Hughes signed the measure passed by the legislature. According to a poll taken by New Orleans representatives, prohibition will carry thirty votes in the house for state dryness and a majority for prohibition exempting New Orleans. A monument in memory of the late Senator Marcus A. Hanna was dedicated at Cleveland, 0., in the presence of many distinguished guests and thousands of spectators. The special train, bearing 500 students of the agricultural college to the Oklahoma state field meet at Oklahoma City, crashed into a special car near Ripley. Conductor Allen was killed and twenty students severely injured. The death is announced of Francois Coppee in Paris. He was a French poet and dramatist and was born in 1842. The Globe (Ariz.) National bank, which closed its doors November 4, after a run, has re-opened prepared to pay all depositors. W. R. Davis, private secretary to the late Governor John Sparks, died at his home in Carson, Nev., Saturday. Through the death of Governor Sparks and his secretary, business in the state buildings has been brought to a standstill. Train service on the Mississippi Central railroad from Natchez to Hattiesburg was inaugurated Saturday. The road is to be extended to Scranton, Miss. The second section of Southern Pacific train No. 16, known as the Oregon express, was wrecked at Pinole, Cal. One man was killed and four injured. Marshall, aged 9, and Derwood, aged 7, the sons of Bay Cunningham, were drowned in a creek near their home, two miles from Newburg, Texas. The Frisco jury in the case of Abraham Ruef, charged with bribery, has disagreed, the jury standing six for conviction and six for acquittal. Montgomery has been selected for the location of the Pythian temple in Alabama and made the permanent headquarters of the Knights of Pythias of the state. The diocese and council of the Episcopal church in Alabama unanimously adopted a resolution, Bishop Beckwith concurring, looking to the division of the diocese. Thirty-five thousand coal miners of Missouri, Kansas, Oklahoma and Arkansas, members of the United Mine Workers of America, who have been on strike since March 1 last, have voted to return to work. Captain Samuel D. McAllister of the Thirty-eighth company of coast artillery, has mysteriously disappeared from his station at the Presidio in Frisco. James Brimmingstall, aged 40, is under arrest at Dowagias, Mich., charged with six murders, Following a personal difficulty, Monroe M. Harrell, a newspaper man, aged 32, formerly of Oklahoma City, was shot and instantly killed in El Paso, Texas, by J. E. Mitchem, proprietor of the El Pase Evening News. The graduate land tax bill, which, by excessive taxation, seeks to prevent the owning of more than 640 acres of land by one person in Oklahoma has been sent to the governor for his signature. The next annual convention of the American Bankers' association will be held in Denver during the week beginning September 27. The Old Dominion paper mills, owned and operated by the American Strawboard company, which have been closed since November last, have resumed operations with a full force. In the Elkhorn and Pocahontas coal fields more than two thousand miners, who have been idle owing to slack business, resumed work Monday. The New York National City bank has engaged $1,300,000 gold for export. This makes a total of $32,155,000 engaged for export on the present movement. Frederick Clark, 21 years of age, Gertrude O'Brecht, 19, and her sister, Bertha, 22 years old were drowned by the upsetting of a canoe at Walkerton, Ont., which shot over a dam in the Saugeen river. Washington. A train on the Jersey Central rail-