Plainview National Bank (Plainview, TX)

Episode Information

Episode Type
Suspension → Closure
Start Date
September 12, 1931
Location
Plainview, Texas (34.191, -101.723)
Bank Type
national
Charter Number
9802
Alt. names
Third National Bank

Metadata

Receivership Details

Depositor recovery rate
26.0%
Date receivership started
1931-09-16
Date receivership terminated
1938-04-29
Share of assets assessed as good
20.8%
Share of assets assessed as doubtful
59.0%
Share of assets assessed as worthless
20.2%

Notes

Receivership reported and receiver named in multiple articles; closure preceded by alleged preferential withdrawals.

Events (4)

1. June 29, 1910 Chartered
Source
historical_nic
2. September 12, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed amid insolvency concerns and alleged preferential withdrawals by insiders immediately before closing.
Newspaper Excerpt
the institution closed last September 12
Source
newspapers
3. September 16, 1931 Receivership
Newspaper Excerpt
Frank A. Blankenbeckler is bank receiver and seven bonding companies also are defendants.
Source
newspapers
4. September 16, 1931 Receivership
Source
historical_nic

Newspaper Articles (12)

Article Text

Plainview Bank Being Reorganized

(Special Globe) Bept. Plainview National Bank did open for business posted the doore the said: order of the board rectors, this bank suspended pending plans."

NAUTILUS IN NORWAY HARSTAD, Norway, Sept. 15 submarine Nautilus in com mand of Hobert Wilkins, rived off Senja the northern coast of Norway today and will piloted the harbor here the day.


Article Text

Hale Sait Is Transferred To Federal Court In City

PLAINVIEW. Jan 13. (Special) The suit of Hale county. through County Judge E. C. Abernathy et al. against bonding corporations and the receiver of the Plainview National bank has been transferred to United States District court at Lubbock. Frank A. Blankenship is bank receiver and seven bonding companies also are defendants. The suit was brought by Judge Abernathy and other county officials in an effort to obtain judgment against certain directors of the Plainview National bank who signed a bond of $85.000 a secur:ty for county school funds in the depository bank. and to obtain judgment against the surety companies for the bonds they had executed in connection with desigation of the bank as depositors for county funds.


Article Text

School Heads File Suit Against Bank

PLAINVIEW, Feb. 13. (AP) — The trustees of the Plainview Independent School district have filed suit to recover part of the $32,308 on deposit in the Plainview National Bank at the time it closed.

The suit is based on the plea that the funds were illegally accepted since the bank had not been designated depository for school funds, and that the money, therefore, was not the property of the bank but merely in trust.

Suit was filed in federal court, naming the bank the receiver, Frank A. Blankenbeckler, and the Federal Reserve Bank of Dallas as defendants. The suit asks for an injunction to prevent funds of the bank from being moved.


Article Text

Official Records

Warranty Deeds Filed in clerk 18. 1932. other Feb. block original town LubJohnson Feb South block Building Loan block CrestBudding Loan block Buford 1931, Parkland Reserve Realty lot block block block Johnston Feb block original and block Franklin Bond and Mortgage company addition Bond company Realty addition Reserve of June other block Lumber other consideration lot block 62, Overton addition.

Courts DISTRICT COURT the Plainview National suit for deposit allegedly receiver for the Plainview National receiver for the National certificate deposit illegelly receiver for Charlie deposit certificate deposit certificate of deposit receiver National for deposit in Momer for deposit allegedly illegally receiver Plain. National for deposit allegedly


Article Text

Bank Failure Being Echoed

Eight Suite Are Filed Here By Bank Receiver Seeking Return Of Some $33,000 By Several Defendants

Eight suits filed by F A. Blank. enbeckler, receiver for the Plainview National bank in U. S. District court here ask return of total of more than $33,000 allegedly drawn fro mthe bank immediately before the institution closed last September Preference of credalleged. Suits are against: Charlie Clements. district judge, for total of $16,203.45 Mrs. Charlie Clements. $1.045: F. J. Tillery, $3,060.46 Beck and Lon Robinson, $921.18: Looper and Homer Looper, $2.000; E C. Hunter, $1,700: L. Largent. $459.99; R. Q. Silverthorne. $8,204.4 "Payment." it is alleged "was not paid the usual course of business of said bank. but on the contrary it was paid by such bank contemplation of insolvency and with the intent on the part of said bank and its officers thereof to prefer said creditor over its other credi-

Received Notes

Silverthorne. it is alleged. presented check for the amount of his deposit. Sept. 12 and received five notes amounting to the face of the check Mrs. Clements on Sept. 12 W05 paid in full for $1.000 certificates of deposit and in addition $45 in interest. it is set out. Tillery purportedly drew out he had on deposit and paid full value $2,000 certificate of deposit Bept. 12. J. Peck and Lon Robinson allegedly drew out deposit of Sept. 12. R. D. Looper and Homer Looper, on the same date. it alleged drew $3,000 which they had on deposit. The charge is made that C. Hunter and Hunter drew $1.700 Sept. 12 On Sent 10, the petition sets out, Mr. Clements drew check for $5,108.43. and Sept. 12 checked for $600 and cashed certificate of deposit for $10,000 In addition. it is charged he received $495 interest.


Article Text

Official Records

New Autos Registered owner Chryster coupe by R. H. Martin, of Lubbock Chryster owner. coupe by Dr. Zachary of

Marriage Licenses Tom' Roberts Lubbock and Miss Blanche Feaster Colorado. Courts COURT Jackson for debt and foreclosure Inc. Rhodes et for debt and foreclosure. Mortwage company of Maryland. Inc. Rhodes suit debt foreclosure Fort Worth Building and Loan debt. Mortgage company of Inc. suit debt COURT Blankenbeckler. DISTRICT receiver of the Shelby bank receiver of Plainview National bank, vs. C. Green. on receiver National on bank stock vs. Hanley son et


Article Text

Further Claims Filed

Three Additional Suits Are Entered In Local Court In Connection With Closing Of Plainview Bank

Three suits which have been filed in District court here bring about $40.000 the moneys alleged illegally withdrawn from the Plainview National bank just prior to its closing last September 12. Defendants are Pelham Clements from whom is sought: Mrs. Robert Clements vir. who allegeddrew out $200 Sept. 12: and RobRoy Clements. $500. Blankenbecker. bank receiver. plain-

Favoritism Charged Basis of the suits the allegathat the payments were made an attempt favor bank depositors. The petition naming Pelham Clements sets out that on Sept. 1931. the Hale county drew check on the bank for $18.195.37. The check, is have paid terest on county road bonds then outstanding held by bank officials until after the institution failed. Clements was assistant cashier. and according the petttion customers. with approximate amounts deposits. included Depositors Listed Charles Clements, brother the of assistant cashier. Mrs. Charles Clements. Bettic Joc

See BANK CLAIMS. Page


Article Text

BURLESON MAN COUNTY'S BANK DIES OF WOUND CASE NEAR END

John Shirley, 65. found wounded on the front steps of his home near Burleson Sunday night after he had shot his son. Bardin. died in a Fort Worth hospital at 4:30 o'clock Thursday morning. Services will be conducted at 2 m. Friday Weiler Funeral Home and burial will be in Burleson. Shirley was farmer and resided four south of Burleson. He admitted. shortly after he was brought to a hospital here. that he had shot his son. Bardin Shirley is in All Saints Hospital recovering from wound in his groin. The elder Shirley is survived by his wife five other sons, David and Halford Shirley Burleson Clyde. A. J. and Ezra Shirley. Abilene; three daughters. Mrs. L. R. Ayers, Fort Worth Mrs. Roy Giles, Abilene, and Miss Mildred Shirley, Burleson.

By Associated Press LUBBOCK June Close of testimony for the plaintiffs in the case of Hale County against the American Indemnity Company and other bonding concerns in which the county seeks covery of surety for its deposits in the closed Plainview National Bank, was near this afternoon in Federal Distriet Court here. Three members of the commissioners court of Hale County testified at the morning session. They were Carrol Bird. Finney and G. W Whitfield Sheriff Nath Burkett testified, as did J. Wayland. county clerk, and F. A. Blankenbeckler. bank The commissioners testified as to alleged to have been made by J. D. Steakley, active vice president of the bank until closed. concerning the condition the bank in March, 1931. and of its ability to secure bond for a county depository and its ability to meet demand by the county for payment of its funds on check or draft.


Article Text

NOTICE OF EXECUTION SALE.

The State of Texas County of Comanche

By virtue of an order of sale issued out of the United States District Court for the Northern District of Texas, at Lubbock, on a judgment rendered in said court on the 31st day of May, A. D. 1932, in favor of F. A. Blankenbeckler, as Receiver of the Plainview National Bank, and against C. V. Bryson and Roy Irick, No. 99 At Law in such court, I did, on the 10th day of August, A. D. 1932, at 10 o'clock A. M., levy upon the following described real property situated in the County of Comanche, State of Texas, as the property of the said C. V. Bryson, to-wit:

Acres Survey Abstract 136 C. F. Adams 29 5 B. B. B. & C. Ry 81 640 V. Campbell 151 14 Jno. Duncan 257 151 Geo. Dickens 280 460 E. T. Ry. Co. 298 110 J. B. Grimes 387 562 D. Millican 648 320 M. J. Maynard 661 160 J. Pomeroy 761 320 Thos. Cypert 851 181 Wm. Shroeder 853 212 P. H. Tubbs 935 95 Thos. Toby 949 160 J. L. Welch 1033 320 Q. Meade 1298 320 F. E. Welch 1440 146 J. V. Townsend 1601 160 J. C. Welling 1608 253 H. L. Oberthier 1879

And on the 4th day of October, 1932, being the first Tuesday in said month, between the hours of ten o'clock A. M. and four o'clock P. M., on said day, at the court house door of said county, I will offer for sale, and sell at public auction, for cash, all the right, title and interest of the said C. V. Bryson in and to said property.

Dated at Fort Worth, Texas, this the 10th day of August, A. D. 1932.

SAM L. GROSS, United States Marshal By D. A. CAMPBELL, Deputy. (3-4-5-6)


Article Text

Official Records

Courts

NINETY NINTH COURT CLARK JUDGE PRESIDING Britton Mrs. D. McCalley suit DISTRICT COURT tional Blankenbeckler. bank, suit receiver company $2.000 Plainview Frank Na- A. for funds legedly Frank tied closing of the bank. National suit debt receiver for Plainview agreed ents judgment perition for acceptance of Bank and Trust Lubbock Hotel company, company vs Blankenbeckler. receiver bank, suit for Frank Plainview National bank, Shepard, for debt. for Plainview National suit for debt. for Plainview National bank, H. Harp Frank receiver Plainview National bank, suit for receiver for Plainview National Douglas Burns suit for debt. Intentions to Wed Chas. and Marjorie Lubbock. Ann Aintworth. both Miss


Article Text

Federal Court Is Adjourned

Short Night Session Is Held Here Tuesday And Judgment Rendered; Other Decisions Given During Day

Adjournment for the term was taken by Judge William H. Atwell for the United States district court for the Northern District of Texas. shortly after 8:30 o'clock last night. A brief night session was held in order to write into the court records a judgment in the case of the Massachusetts Bonding and Insurance Co. vs. L. J. Halbert, et al. Judgment for the plaintiff in the case of Samuel E. Smith vs. R. E. Swain, was given by Judge Atwell at the close of hearing of evidence at the morning session. W. D. Girand, attorney for F. A. Blankenbeckler. receiver for the Plainview National bank. took a default judgment in the case against T. L. Thurman. Judgment was for $725.53 on a note and foreclosure and also for vendor's leins amounting to $4,090, with interest. Motions by Mr. Girand as attorney for the bank receiver and L. E. Elliott for the plaintiff were overruled. Witnesses heard were: F. A. Blankenbeckler. Guy M. Johnson. Walter Struve, A. N. Redinger and K. Stone. Judgments were given by Judge Atwell for the defendants and prorated out of a balance of $2,652.09 which the bonding company had offered the court as the balance on its bond of $5,000 for L. J. Halbert. a warehouseman. Total amount of judgments was $4,008.78 and this was prorated on a basis of 66.1 per cent. Amounts were: Guy M. Johnson, $184.41: Walter Struve, $597.67: A. N. Redinger, $480.07; A. M. Smith, $504.90; J. K. Stone. $141.61 and the receiver of the Plainview National bank. $745.11.


Article Text

Plainview—The Plainview National Bank (receiver) 55, Queen City—Guaranty Bond State Bank 2, Roxton—The First National Bank of Roxton 4, Roxton—The First National Bank of Roxton 25, San Antonio—Commonwealth Bank and Trust Company *80, Sanger—The First National Bank of Sanger 15, Valley Mills—First National Bank 30, Vernon—The First State Bank 35, McCaulley—First State Bank of McCaulley

Insurance Company.

Dallas—The Praetorians 250,

Mortgage Companies.

Aransas Pass—Guaranty Bond and Mortgage Company 8, Houston—Federal Intermediate Credit Bank of Houston (repaid in full) 1,250, Henrietta—Henrietta Agricultural Credit Corporation 20, Fort Worth— Regional Agricultural Credit Corporation of Fort Worth, Texas. Regional Agricultural Credit Corporation of Fort Worth, Texas. Regional Agricultural Credit Corporation of Fort Worth, Texas. Regional Agricultural Credit Corporation of Fort Worth, Texas. Regional Agricultural Credit Corporation of Fort Worth, Texas. Regional Agricultural Credit Corporation of Fort Worth, Texas.

Preferred Stock Subscription.

Paris—First National Bank

Previously Authorized but Withdrawn or Canceled in Pa

Ranger—Commercial State Bank Rule—The Farmers State Bank Wichita Falls—The City National Bank of Wichita Falls Houston—The Carter Investment Company

*No part disbursed through April 15.