Bank of Fordyce (Fordyce, AR)

Episode Information

Episode UID
2140951591571
Episode Type
Run β†’ Suspension β†’ Unsure
Bank Type
trust
Bank ID
214095159 hash
Start Date
November 17, 1930
Location
Fordyce, Arkansas (33.814, -92.413)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
df997413129f51ed

Response Measures

None

Description

The bank initially remained open while others in the A.B. Banks chain suspended, but it was forced to close at noon the same day due to a heavy run.

Events (2)

1. November 17, 1930 Run
Cause
Local Banks
Cause Details
Heavy runs triggered by the suspension of other affiliated banks in the A. B. Banks chain.
Newspaper Excerpt
Bank of Fordyce opened for business Monday morning, but a heavy run on deposits forced its closing at noon.
Source
newspapers
2. November 17, 1930 Suspension
Cause
Local Banks
Cause Details
Suspended at noon following a heavy run triggered by the failure of affiliated institutions.
Newspaper Excerpt
Bank of Fordyce, Fordyce; Exchange Bank of Dermott, and Sheridan, closed at noon, due to heavy runs this morning.
Source
newspapers

Newspaper Articles (3)

Article from Jonesboro Daily Tribune, November 17, 1930

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Article Text

BANKS CLOSED TEMPORARILY STATE CITIES Number of Banks Chain Suspend Business Today In Order to Protect Interest of Depositors. Will Open in Five Days After Precautionary Steps Taken. Thirty-two banks in which A. B. Banks, Arkansas financier, is interested, temporarily suspended business this morning, with announcements being made to the effect that they would reopen for business after five days. Capitalists viewed the closing of the banks with little alarm, expressing the belief that the banks are all absolutely solvent and that their temporary closing is for the protection of depositors and to avoid runs that might have resulted from the present panicky condition of the state. Fortunately, no Jonesboro banking interests were in any way connected with any of the banks that closed, according to statements made this morning. The following United Press dispatch tells of the temporary closing of the banks: LITTLE ROCK, Ark., Nov. 17.β€”The following banks in which A. B. Banks company is interested suspended business temporarily this morning: Bank of Altheimer, Altheimer; North Arkansas Bank, Batesville; Bank of Bauxite, Bauxite; Benton Bank and Trust Company, Benton; Arkansas State Bank, Carlisle; Bank of Carthage, Carthage; Farmers Bank, Casa; Bank of Clarendon; Farmers Bank, Dardanelle; Eudora Bank and Trust Company, Eudora; Hampton State Bank, Hampton; Cleburne County Bank, Heber Springs; Merchants and Planters Bank, Helena; Arkansas Bank and Trust Company, Hope; Bank of Houston, Houston; Merchants and Planters Bank, Humphreys; First National Bank, Junction City; Merchants and Farmers Bank, Junction City; Cleveland County Bank, Kingsland; Chicot Trust Company, Lake Village; American Exchange and Trust Company, Little Rock; First State Bank, Osceola; Bank of Pangburn, Pangburn; Perry State Bank, Perry; Merchants and Planters Bank and Trust Company, Pine Bluff; Victoria Bank, Strong; First State Bank, Thornton; Bank of Wabbaseka, Wabbaseka; Grant County Bank, Sheridan; Exchange Bank and Trust Company, Dermott. Bank of Fordyce, Fordyce; Exchange Bank of Dermott, and Sheridan, closed at noon, due to heavy runs this morning.


Article from Hope Star, November 17, 1930

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Article Text

Four Million Is Withdrawn From Little Rock Bank Suspension of American Exchange Followed By Others CALDWELL BLAMED A. B. Banks Takes Him Out, But Excited Public Forces Suspension BY UNITED PRESS LITTLE ROCKβ€”Suspension of the Bank of Fordyce, and the Exchange Bank & Trust Co. of Dermott, on Monday brought the total of suspended A. B. Banks & Co. institutions to 33. Telephone advices to the United Press from Fordyce said that the Bank of Fordyce opened for business Monday morning, but a heavy run on deposits forced its closing at noon. LITTLE ROCK, (AP)β€”A. B. Banks & Co. announced Monday that 31 banks in Arkansas with which it is affiliated suspended payment Monday morning to depositors for a period of five days. Seven other affiliated banks advised the company that they are remaining open. The company has not heard from nine other banks as to what action they are taking. There are 47 banks in the group. The 31 banks which suspended were: Bank of Altheimer; North Arkansas Bank of Batesville; Bank of Bauxite; Benton Bank & Trust Co.; Arkansas State Bank of Carlisle; Bank of Carthage; Farmers Bank of Carlisle; Bank of Clarendon, Farmers Bank of Casa; Hampton State Bank; Heber County Bank of Heber Springs; Merchants & Planters Bank of Helena; Bank of Houston; Cleveland County Bank of Kingsland; Chicot Trust Co. of Lake Village; American Exchange Trust Co. of Little Rock; First State Bank of Morrilton; Arkansas Trust Co. of Newport; Bank of Pangburn; Perry State Bank; Merchants & Planters Bank & Trust Co. of Pine Bluff; Victoria Bank of Strong; First State Bank of Stuttgart; Citizens Bank of Thornton, Bank of Wabbaseka; First National Bank of Junction City; Merchants & Planters Bank of Junction City; Eudora Bank & Trust Co.; Grant County Bank of Sheridan; First State Banks of Osceola; Arkansas Bank & Trust Co. of Hope. Largest Bank in State The decision of the American Exchange Bank, largest in the state, late Sunday night, to suspend payment Monday morning and close for a period of five days, resulted in the closing of the other smaller banks over the state. A. B. Banks is president of the Exchange Bank and interested in forty-six others in the state. With the exception of the American Exchange Bank here, the Merchants & Planters Trust Co. at Pine Bluff, and the Merchants & Planters Bank at Helena, the others are comparatively small banks. J. J. Harrison, vice-president of the Banks company, said that he expected "at least half" of the closed banks to reopen. The temporary closing of the American Exchange of Little Rock as permitted under a state law, is attributed to public hysteria, resulting from the placing of Caldwell & Co., of Nash- (Continued On Page Four)


Article from The World-News, November 17, 1930

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Article Text

pany, Newport; Bank of Pangburn, Pangburn: State Perry: Merchants Trust Company. Pine Bluff: Bank Star Star Victoria Bank Strong: State Bank, Stuttgart; Citizens and Bank of Wabbaseka, The following banks affiliated with Banks Company mained open for business, the comannounced: The Bank of Fordyce and the First National Bank, Fordyce: Bank Harrisburg, Harrisburg First National Mineral Bank of phens, Stephens, and Bank of Waldo, Waldo. Efforts were being made at City to merge the First National Bank and the Merchants and Farmers and open one of them today, officials said. Chicago Nov affiliated the National Bank Kentucky drastically the Chicago stock market opening compared with closing price Saturday of Sales midsession today had reachtotal of shares, while the sales last 9.800. stock has sold 25 this and last mark was today the to and then slipped back Ky., Nov. City National Bank Paducah today nounced the of the First National Bank the Mechanics Trust and Savings Bank Paducah. James Utterbach president the City Bank, had all assets of the other local and had guaranteed their deposits. Directors the First National Bank, which was affiliated with the Bancothat closing the Bank Kentucky had not the First National of They added the National Bank owed and owed them nothing. BAPTISTS HERE FOR GENERAL ASSOCIATION MEETING TOMORROW CITY ITEMS Mark's Gathering. Mark's Lutheran who the during the will be welcomed gathering held the church Wednesday evening o'clock. Charles Smith, president Roanoke college, will make brief talk at this time. Committee to Meet. The of the Mary Louise home meet Wednesday o'clock the home number important matters will be discussed, and all members are urged to be New Director Arrives. Effie Kendrick, recently named the cafeteria, has the city. She assume her new duties morning Miss Kendrick native of Georgia, but comes here Orleans, where has sistant cafeteria of that city. Children's Book Talk. Miss Mary Roselle, children's 11brarian the Roanoke public library, will speak to parents the subjects books for children Tuesday morning at The viously announced Wednesday morning Suffering Injured Knee. near Boone taken Lewis-Gale hospital late suffering from badly lacerated knee as result of an automobile accident of on Mount road, about six miles from Crystal Spring The Crystal Spring Association meet afternoon the usual hour, nounced yesterday. The meeting was to have been held last but was poston the death mother the school Bertha Starritt. principal, Wreck Victims Improve. Mrs. Fred Lorenzen and daughters, Helen and Hazel, slightly injured an cident which occurred Armistice between Roanoke and Salem, are able to be out again. (Continued From Page One.) To Give Womanless Wedding. bentfit the church buildFor ing fund. Circle No. the WomAuxiliary of the West End Presbyterian will sponsor the "Womanless Wedsentation evening o'clock tomorrow the over the and Cafeteria Street. Hernwill be in charge of the don music. tists Virginia have chosen Roanoke their in 1897, 1910, 1917 in 1923. The white Baptists of Virginia numThey have 1,154 churches, 743 ministers 1,140 Bible Schools, Baptist Young Peoples Unions, Women's Missionary Undistrict which standhospital with 103 beds, orphanage at Salem which cares 275 children. seven academies, three junior colleges and one universiaccording to reports prepared for Seize and Liquor Cargo. tomorrow Stanley. Roanoke County of Virginia last liceman captured for automobile loaded 105 Buick for missions and education. of liquor on Friday night, gallons after chase from the W. Cammack will conduct opening session Road. through after organization and Northeast and an address welcome will ended the Bonsack Road, outside delivered by Angell. the city limits. One of the two sponse will made by Dr. Cecil other. cupants Cooke. Moses, faces prohibition charge. Among the other opening day speaktaken to Salem and later supplied ers are Frank Crump, bond. Eugene Sallee, both has Burn Car and Wreck One resented the denomination foreign Thleves will deliver an address Saturday night. Christ in Services will police another burned, at noon when that Frank Kaplan reported will be preached by Dr. been stolen. his had land whose subject will few minutes later fire company Greatest called street at Buzzard Rock president of the where Kaplan's machine Ford Richmond, will speak Police the car appearmorrow the ed been fired from the inside. "Higher World was backed into The report the committee ditch flames flared up presented by the sped Studebaker second car Tiffany. Tuesday night owned Riley Collins, touring address will Porter who wrecked at Church Avenue and his subject, "Must We First Street, W., shortly Fight Again?" was reported stolen. The driver fied. called to move the Speaking "Thomas Jefferson and Garland damaged vehicle away. Governor John Pollard will appear the program Pol- Pupils pupils of the Jamison has active Sixth will group songs the the for many school afternoon at o'clock from stahaving served moderator Friday WDBJ Those the the Peninsula Baptist Association while will last for about lived Williamsburg. which thirty program. minutes, will be children Dr. Richard pastor of CalMrs. Baptist will serve rooms of Mrs. vary Mrs. Virginia Mameeting which Beulah Painter and pastor scheduled adjournment at soncup. Thursday Planning Consolidation. article in the Daily to New the the National Credit Company and Dun Office are planning successful the the negotiations are individual will retain agencies but known the Dun Corporabe the Dun Company For 89 operation. been world-wide organiza257 offices and over operating states the States and themservices.