Article Text
BANK SUSPENDS AT TUCUMCARI By Associated Press. Tucumcari, N. M., Jan. 22. The International Bank of Commerce closed its doors here today. Its affairs, it is stated, are badly complicated. Deposits aggregate $160,000.
International Bank of Commerce (Tucumcari, NM)
Episode Information
- Episode Type
- Run → Suspension → Closure
- Start Date
- January 22, 1912
- Location
- Tucumcari, New Mexico (35.172, -103.725)
- Bank Type
- state
- Routing Number
95-0039
Metadata
Notes
Directors ordered closure after withdrawals; state examiner took charge and a receiver was later appointed.
Events (3)
1.
January 22, 1912
Run
- Cause
- Bank Specific Adverse Info
- Cause Details
- Uneasiness after former president's departure and heavy lending/rediscounts led depositors to withdraw funds.
- Measures
- Directors closed the bank; state bank examiner took charge.
- Newspaper Excerpt
- the past president ... recently left Tucumcari, caused uneasiness in the mind of depositors creating a run which resulted in the closing of the bank.
- Source
- newspapers
2.
January 22, 1912
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Ordered closed by directors following withdrawal of several large accounts and precautionary measures to keep funds intact.
- Newspaper Excerpt
- The International Bank of Commerce closed its doors here today. Its affairs, it is stated, are badly complicated.
- Source
- newspapers
3.
June 21, 1912
Receivership
- Newspaper Excerpt
- I. A. L. Flemister, agent for H. B. Jones, Receiver of the International Bank of Commerce of Tucumcari, New Mexico ... will ... offer for sale ... under said mortgage; and that I will apply the proceeds ... which at the date of said sale will be the sum of $1491.35, and costs of sale; that I have been duly appointed by said H. B. Jones, Receiver, as his agent ... (notice dated Jun 21, 1912).
- Source
- newspapers
Newspaper Articles (14)
Click image to open full size in new tab
Click image to open full size in new tab
Article Text
JOERNS HOPES TO PAY DOLLAR FOR DOLLAR. Has Taken Charge of International Bank of Commerce Which Was Closed. --Special to the New Mexican. Tucumcari, N. M., Jan. 24.State Bank Examiner John Joerns arrived last night via French and has taken charge of the International Bank of Commerce of Tucumcari which closed its doors on Monday noon. From a superficial examination made by Mr. Joerns the assets and liabilities as shown by the books are $201,400. Until the examiner has made a thorough examination it will not be possible to state the losses. Mr. Joerns, however, states that in his opinion based on his present knowledge of conditions, there is a good likelihood of the possibility of a liquidation whereby all depositors and creditors may be paid in full. The closing of the bank will not seriously affect any other banking institutions. Too much money loaned necessitated heavy rediscounts coupled with the fact that the past president of the bank W. F. Buchanan, recently left Tucumcari, caused uneasiness in the mind of depositors creating a run which resulted in the closing of the bank. A. E. Carter, recently resigned as postmaster, is the president of the bank.
Click image to open full size in new tab
Article Text
INTERNATIONAL BANK IS CLOSED Was Placed In the Hands of the State Bank Examiner Monday After noon, at 1:00 O'Clock A sensation was caused Monday after noon when the news became generally known that the International Bank of Commerce had closed its doors and that the affairs of the bank were in the hands of the Bank Examiner Inquiry however, revealed the fact that the bank had been ordered closed by the directors of the bank. While no statement has been made officially by the bank officials it is un derstood that the action was taken foi lowing the withdrawal of several large accounts and was taken as a precaution ary measure to insure keeping the funds of the bank intact. The state bank examiner arrived in the city Tuesday and commenced mak ing examination of the affairs of the bank and while he has made no official statement it is said by those in a por sition to know. that the depositors will be paid in full. The closing of the bank caused great inconvenience and excitement and much talk but there was nothing in the form of a panic. Knowing the directors and officers of the bank as they do, the de positors were apparently confident that all possible would be done to straighten out the affairs of the bank A director of the International made the statement last night that without doubt the depositors would be paid one hundred cents on the dollar. This will be welcome news to the people who had their money in the bank. Deposit- were taken into the bank up to the noon hour Monday and those who had made deposits that day were at terwards notified and allowed to with draw the amounts of their deposits This in a great measure tended to re store confidence The branch bank at Montoya was closed by orders of the bank officials W. F. Buchanan was formerly presi dent of the International Bank and re cently sold his interests to A. R. Car ter. postinaster. Mr. Joerns, bank examiner. state< that the bank has notes amounting to about $120,000 Bills payable about $60,000, with deposits of *75,000 and has an equity in the bank building of about *20,000. It is their earnest et fort to get things in shape so deposit OIS may 8002 realize something. w
Click image to open full size in new tab
Article Text
H, B. JONES APPOINTED DEPUTY BANK EXAMINER Tucumcari, N. M., Feb. 8.-State auditor John Joerns, has appointed H. B. Jones, of this city, president of the First National bank, deputy bank examiner to continue the work on the defunct International Bank of Commerce of Tucumcari, until a receiver has been appointed for that institution. It is understood that Mr. Jones was the choice of practically all of the stockholders of the International bank,
Click image to open full size in new tab
Article Text
EDUCATORS MEET TO-DAY State Funds Lost in Tucumcari Bank Made Good by Surety Co. CARIZOZO COUNTY SEAT CASE Good Roads Congress Will Meet In Santa Fe on Wednesday, April 3d. to Federal Judge William H. Pope appointed J. B. Underwood United of day Willard, Torrance county, a States commissioner. Lake Urton Lands Restored. secretary of the interior has The entry the lands withdrawn Guadastored under the to Lake Urton project, lupe county Postoffice Affairs. A postoffice has been established Ernest Colfax county. postUnderwood Sugarite, has been appointed been ap Jesse Tanner has master. pointed postmaster at Judson, New Mexico. Services for General Dow. the Memorial exercises in honor of Memorial General Neal Dow, will be held the late at 8 o'clock p. m., March 20 in hall of the House of Representata- made by Short speeches will be and by other There legislators tives. will De good music rendered. persons later The program will be published Agricultural College Regents Organize. The Board of Regents of the New and College of Agriculture Mechanic Mexico Arts has organized by electWilliam Alexander Sutherland, May, ing president of the board; and V. B. W. E secretary and treasurer. Dr. of Garrison was re-elected president the college. Board of Pharmacy. The state board of pharmacy will in Santa Fe May 13 17. There state will meet probably be a meeting of the the of pharmacists at but this has not the association same time, members yet of been announced. The Las E. G. Murphy, East president A J. E board Vegas, are: treasurer; Fischer, W. Santa Fe, secretary and CruNutting, Raton; P. Moreno, Las ces, G. S. Moore, Roswell. Bank Loss Made Good. National Surety Company of City has Department of Mexico New The York notified Insurance the $9,892.57 New that it has forwarded a check for payment for the loss of state money in deposited in the defunct International Bank of Commerce of ucum- the cari. The payment was made on demand of the treasurer and collector of Quay county for county money deposited in the bank. District Court. Judge David J. Leahy of Las Veis sitting on the bench in the district gas court this morning in cases, in there is a large number, E. C. Abbott is of which which Judge disquali- called fied. The petit juries were this forenoon. Judge Abbott went to Clovis yesterday and will be absent the for two weeks trying cases in court of Judge John T. McClure, of the fifth judicial district. Supreme Court. state supreme court reconvened afternoon. Case No. this The 1453, Ohio, First National Bank of Sandusky et V. D. B. Smith and W. Smith, was Gertrude al., appellees, appellants, afternoon argued and submitted. This hearings in the writ of habeas corpus proceedings took place, the writ being returnable today. Canavan is under Alsentence for contempt of court at buquerque. Carrizozo County Seat Case. Thomas B. Catron council for Lincoln and John Y. Hewitt representing Carrizozo and the county commissionthe Lincoln county seat controagreed to submit the of injunction on ers dissolution versy, in stipulation matter Abbott of Court Judge E. C. Fe within the next few involved in this case to in The Santa District point dissolu- at days. this is the motion for the injunction now commissioners tion the hearing county of the restraining from Carrizozo completing the building at the case may be court of the is While the supreme appealed speedy state hear it thought it will be given a ing in both courts. Judge Hewitt will leave in a day or two for the capital -Carrizozo Outlook. Board of Education. Board of met The State Education the today at the capitol. This is first meeting of the new board and it will at once plunge into the consideration of proposed school legislation. H. H. Roberts of Las Vegas, of the New State president Frank Mexico C. Hill Normal University, and c. of of Reswell, county superintendent were in the city evenother members of board ing. Chaves, The last the arrived during the course of the day. are: C.M. of the State at heir tendent names Normal Light, School superinM. D. Taylor, Aztec; Montoya of Bonifacio Silver City; of Bernalillo, Sandoval county superintendent county. It is probable that the educommittees of the will meet cational of legislatare both with houses the this afternoon to discuss needAt this will on the ed board board legislation. pass qualifications session grade the of institute conductors; eighth examinations and promotion and pro-
Click image to open full size in new tab
Article Text
# NOTICE OF MORTGAGEE'S SALE NOTICE IS HEREBY GIVEN, That I. A. L. Flemister, agent for H. B. Jones, Receiver of the International Bank of Commerce of Tucumcari, New Mexico, under the power of chattel mortgage given by H. S. Burnham and W. E. Mundell to International Bank of Commerce of Tucumcari, New Mexico, dated Nov. 4th, 1911, and recorded on the 23rd day of November, 1911, in book 8 of Chattel Mortgages, page 151, Records of Quay county, New Mexico, given to secure a note of even date therewith for $1381.15 with interest from date until paid at 10 per cent per annum, and ten per cent of the amount thereof attorney's fees in case of legal proceedings for collection thereof, which mortgage conveyed the property hereinafter described for sale, will on the 39th day of July, A. D., 1912, at the hour of ten o'clock in the forenoon of said day, at Howe's Wagon yard on the corner of First and Center Streets in the City of Tucumcari, New Mexico, offer for sale and sell at public auction for cash the following described property, towit: Forty-four head of neat cattle, some of which are branded O. K. on left hip, thirty-four head are registered shorthorn cattle and known as the Burnham cattle; located in Quay county, New Mexico; and that said sale will be made under the provisions of said mortgage; and that I will apply the proceeds of said sale to the satisfaction of the indebtedness aforesaid, which at the date of said sale will be the sum of $1491.35, and costs of sale; that I have been duly appointed by said H. B. Jones, Receiver, as his agent, to take possession of said property and make said sale. A. L. Flemister, Agent for said Receiver, Postoffice, Castleberry, N M. Harry H. McElroy, Tucumcari, New Mexico Attorney for Receiver 6-7-4t
Click image to open full size in new tab
Article Text
# SUMMONS FOR PUBLICATION In the District Court of the Eighth Judicial District of the State of New Mexico, within and for the County of Quay. H. B. Jones, receiver of the International Bank of Commerce of Tucumcari New Mexico, plaintiff, vs. Reubin Doss, et al., defendants, No. 1083. The defendant Reubin Doss is hereby notified that plaintiff has filed an action againt you in the above styled court and cause whereby he seeks to recover judgment against you on account of your promissory note of November 11th, 1911, to International Bank of Commerce of Tucumcari, New Mexico, on which there remains due and unpaid the sum of $100.00, with interest thereon from December 10th, 1911, at the rate of ten per cet per annum, and ten per cent of the amount thereof for attorneys fees as provided by said note, and that under a writ of attachment issued in said cause your property, to-wit, Northeast quarter of section seven, township ten, north, of range thirty-one east, N. M. P. M., lying and being in Quay count", New Mexico, has been attached, and you are further notified that unless you enter or cause to be entered, your appearance in said cause and defend said action, on or before the 14th day of September, A. D., 1912, judgment will be rendered against you for the amounts above stated, and your said property will be sold to satisfy said judgment. Harry H. McElroy, of Tucumcari, New Mexico, is plaintiff's attorney. D. J. Finegan, County Clerk W. R. Coplen, Deputy
Click image to open full size in new tab
Article Text
# MORTGAGEE'S SALE NOTICE IS HEREBY GIVEN, That I, Samuel H. McElroy, Agent for H. B. Jones, Receiver of the International Bank of Commerce of Tucumcari, New Mexico, under the power of a certain mortgage deed made and executed by the Jordan Mercantile Company, by T. M. Jordan, and T. M. Jordan and Lucy Jordan, to the International Bank of Commerce of Tucumcari, New Mexico, and now owned and held by H. B. Jones, Receiver of said Bank, dated October 12, 1911, given to secure a note of $300.00 of even date therewith, with interest at 10 per cent per annum from January 11, 1912, until paid, and 10 per cent of the amount thereof attorney fees, which mortgage was given on the property hereinafter described, will on the 28th day of August, 1912, at the hour of ten o'clock in the forenoon of said day, at the front door of the Anderson Building on Center street between 2nd and 3rd streets, at Tucumcari, New Mexico, sell at public auction the following property, towit: All of the goods, wares, merchandise and fixtures of the Jordan Mercantile Company, heretofore located in the store of the Jordan Mercantile Company at San Jon,, New Mexico. That said sale will be made in accordance with the provisions of said mortgage, and that I will apply the proceeds of said sale to the payment of said note and the costs of sale. That I have been duly appointed by said H. B. Jones, Receiver aforesaid, to make said sale. Samuel H. McElroy, Agent for H. B. Jones, Receiver aforesaid, Mortgagee. 4t Aug 2-23 4t
Click image to open full size in new tab
Article Text
H. B. JONES, Receiver Int rnational Bank of Commert Tuenmeari, N. M Disappointed Office Seekers. A man will get so mad because the Job be wanted was given to someone else That he will spend weeks fighting the appointing power. purely on
Click image to open full size in new tab
Article Text
RECEIVERS NOTICE I am now prepared to accept bids on the following described property owned by the International Bank of Commerce Tucumeari, N. M.. SE% NW½ and SW 1/4 NE% and lots 2 and 3 See 4 Twp 10N Rng 31 E., containing 159 61-100 acres, Quay county, N. M. Lot 5 Block 13 OT Tueumeari, N. M. Lot 5 in Block 8 of Gamble addition to Tuenmeari. Lots 9 and 10 block 8 Rock Island addition, Tucumcari, N. M. H. B. JONES, Receiver Int reational Bank of Commerce Tuenmeari. N. M.
Click image to open full size in new tab
Article Text
RECEIVERS NOTICE I am now prepared to accept bids on the following described property owned by the International Bank of Commerce Tuenmeari, N. M.. SE% NW½ and SW½ NE% and lots 2 and 3 See 4 Twp 10N Rng 31 E., containing 159 61-100 acres, Quay county, N. M. Lots D, E, and F Chenault's SubDiv. of lots 8, 9, 10, 11, 12 of Block 18 OT Tucumeari. Lot 5 Block 13 OT Tueumeari, N. M. Lot 5 in Block 8 of Gamble addition to Tueumeari. Lots 9 and 10 block 8 Rock Island addition, Tucumcari, N. M. H. B. JONES, Receiver Int mational Bank of Commerce N. M
Click image to open full size in new tab
Article Text
RECEIVERS NOTICE I am now prepared to accept bids on the following described property owned by the International Bank of Commerce Tueumeari, N. M. SE% NW½ and SW½ NE% and lots 2 and 3 See 4 Twp 10N Rug 31 E, con taining 159 61-100 acres, Quay county N M. Lots D, E, and F Chenault's SubDiv. of lots 8, 9, 10, 11, 12 of Block 18 OT Tucumcari. Lot 5 Block 13 OT Tucumcari, N. M. Lot 5 in Block 8.0f Gamble addition to Tucumeari. Lots 9 and 10 block 8 Rock Island addition, Tucumcari, N. M. H. B. JONES, Receiver Int rnational Bank of Commerce Thenracari. N. If
Click image to open full size in new tab
Article Text
All the news in the News. Read it RECEIVERS NOTICE I am now prepared to accept bide on the following described property owned by the International Bank of Commerce Tucumeari, N. M. Lots D, E, and F Chenault's SubDiv. of lots 8, 9. 10, 11, 12 of Block 18 oT Tucumeari. Lot 5 Block 13 OT Tueumeari, N. M. Lot 5 in Block 8 of Gamble addition to Tucumeari. Lots 9 and 10 block 8 Rock Island addition. Tucumcari, N. M. H. B. JONES, Receiver Int rnational Bank of Commere. Thenmeari. N. M
Click image to open full size in new tab
Article Text
# Notice for Publication In the District Court of the Eighth Judicial District, State of New Mexico, County of Quay. H. B, Jones, Receiver of the International Bank of Commerce of Tucumcari, New Mexico, plaintiff, vs. U. S. Water and Steam Supply Company. defendant. No. 1481. The defendant U. S. Water and Steam Supply Company is hereby notified that said plaintiff has commenced an action against you in the above named court and cause whereby plaintiff seeks to quiet title in himself in and to the following property and real estate lying and being in Quay County, New Mexico, towit. West half of northeast quarter and east half of northwest quarter, or the southeast quarter of the northwest quarter, the south-west quarter of the northeast quarter, and lots two and three, of section four, in town-ship ten north of range thirty-one east. N M. P. M., and for general relief in the premises, and for costs of suit. And you are further notified that unless you enter your appearance herein on or before the 26th day of December A. D., 1914, judgment by default will be rendered against you and relief prayed by plaintiff granted and decreed. J. D. Cutlip of Tucumcari. New Mexico, is attorney for plaintiff. D. J. Finegan, Clerk of said Court. By W. R. Coplen, Deputy. [SEAL]