Merchants National Bank (Little Rock, AR)

View Charter #1648 on SPMC View balance sheet

Episode Information

Episode UID
164800900
Episode Type
Run Only
Bank Type
national
Bank ID
16480 national
Charter Number
1648
Start Date
December 11, 1874
Location
Little Rock, Arkansas (34.746, -92.290)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
beaf0c2cf209eb7c

Response Measures

Accommodated withdrawals, Public signal of financial health

Receivership Details

Depositor recovery rate
73.6%
Date receivership started
1893-02-06
Date receivership terminated
1908-09-30
Share of assets assessed as good
28.6%
Share of assets assessed as doubtful
26.0%
Share of assets assessed as worthless
45.4%

Events (3)
1. April 2, 1866 Chartered
Source
historical_nic
2. December 11, 1874 Run
Cause
Local Banks
Cause Details
Run caused by suspension of Stoddard Bros. & Co. and damaging reports about that bank, which triggered withdrawals from other local banks.
Measures
Permitted prominent business men to examine bank condition; paid checks up to regular closing hour.
Newspaper Excerpt
There was a slight run on the other banks-Merchant's National and Brodie's-for a short time, but they were well supplied with means and were not affected.
Source
newspapers
3. February 6, 1893 Receivership
Source
historical_nic

Newspaper Articles (2)
1. December 12, 1874 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN
Article from Memphis Daily Appeal, December 12, 1874

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Article Text

LITTLE Rock was considerably excited yesterday over financial matters, caused by the suspension of the bankinghouse of Stoddard Bros. & Co. A run was made on all the other banks, with what result is not stated. The assets of the suspended bank are greater than the liabilities.

2. December 15, 1874 The Van Buren Press Van Buren, AR
Article from The Van Buren Press, December 15, 1874

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Article Text

Stoddard's Bank Suspended. From the Little Rock Republican of Saturday. we get the following in regard to the suspension of Stoddard & Bros., Bank at Little Rock This, we believe, is one of the mushrooms that spring up under the Clayton & Co's dynasty: Considerable excitement prevailed in moneyed circles yesterday on account of the suspension of the bank of Stoddard Brothers & Co. The bank did not open at the usual hour. and of course, rumor was busy for a time, and as many stories as there are sections in Gantt's digest, were bandied about the streets during the morning. The suspension was caused by a damaging report sent from here by the correspondent of the St. Louis commercial agency that the institution was in a fail ing condition. The report coming back, caused a run on the bank. Wednesday and Thursday, all checks, however, being paid up to the regular hour of closing Thursday. In an interview with Mr. John Stoddard, we learned that the assets of the are more than fifty per cent. above the liabilities. and depositors will receive their money as soon as collections can be made, and the suspension will be but temporary. The commercial agent denies that he sent the report to St. Louis that the bank was in a failing condition, but claims that he said it was not doing as much business as formerly, and was weakened by funds drawn out by the county collector. There was a slight run on the other banks-Merchant's National and Brod ie's-for a short time, but they were well supplied with means and were not affected. Several prominent business men called at these institutions and were permitted to examine into their condition, and we are assured they found them even in a better state than was anticipated.