First National Bank (Texarkana, TX)

Episode Information

Episode UID
306501092
Episode Type
Suspension โ†’ Reopening
Bank Type
national
Bank ID
30650 national
Charter Number
3065
Start Date
December 1, 1890
Location
Texarkana, Texas (33.425, -94.048)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e3fb4738c162e2be

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1895-04-01
Date receivership terminated
1896-12-18
OCC cause of failure
Fraud
Share of assets assessed as good
20.2%
Share of assets assessed as doubtful
10.4%
Share of assets assessed as worthless
69.4%

Description

Some articles identify Texarkana as Ark.; contemporaneous coverage uses both AR and TEX addresses.

Events (4)

1. October 26, 1883 Chartered
Source
historical_nic
2. December 1, 1890 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Cash shortage found in vaults (~$6,000โ€“$7,000); cashier had large interests and allegedly tried to float liabilities; apparent bank insolvency/embezzlement concerns.
Newspaper Excerpt
The First National Bank of this city suspended this morning.
Source
newspapers
3. January 19, 1891 Reopening
Newspaper Excerpt
The First National Bank of Texarkana Ark. which suspended last November, reopened Monday.
Source
newspapers
4. April 1, 1895 Receivership
Source
historical_nic

Newspaper Articles (13)

Article from Richmond Dispatch, December 2, 1890

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A National Bank Suspends, TEXARKANA, ARK., December 1.-The First National Bank of this city suspended this morning. Several heavy depositors will be badly crippled. The bank officials claim that the losses will be only temporary, as their assets are $225,000 and their liabilities $150,000.


Article from The Morning Call, December 2, 1890

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BUSINESS FAILURES. Assignment of a Boston Wholesale Firm. Suspension of Banks. NEW YORK, Dec. 1.-Arthur & Ketchum, stock-brokers, have assigned. BOSTON, Dec. 1.-Winslow, Reed & Watson, wholesale dealers in teas, coffees and spices, have assigned. Winslow says the immediate cause of the failure is stringency in the money market. He has no idea of the amount of liabilities and assets. PITTSBURG, Dec. 1.-An Indiana (Pa,) special says the Deposit Bank has failed. The liabilities and assets are unknown. The closing of the doors of the Deposit Company is the result of the failure of B. K. Jamison & Co., Philadelphia. The latter had in their possession cash and securities of the Deposit Company amounting to $45,000 at the time of the suspension. The officials say the deposits aggregate $141,000, and the assets are three times as large. An early resumption is expected. The chief stockholder, White, spent some time in Philadelphia, trying to recover securities or money from the Jamisons, but was unable to do so. He stated to-day that the bank is solvent and will pay dollar for dollar, and all they wanted was time enough to turn the securities into money. The principal depositors express confidence in the bank. TEXARKANA (Ark.), Dec. 1.-The First National Bank suspended this morning. The bank officials assert that the embarassment will be only temporary, as their assets are $255,000 and liabilities $150,000. GUTHRIE (Ind. T.), Dec. 1.-President Ragsdale of the Commercial National Bank, which suspended last week, has been arrested under an indictment charging him with a violation of the banking laws.


Article from Omaha Daily Bee, December 2, 1890

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Dr. Birney cures catarrh. Bee bld. g Failure in T xarkana. TEXARKANA, Ark., Dec. 1.-The First Na tional bank suspended this morning. The bank officials assert the embarrassment will be only temporary as their assets are $255,000 and liabilities $150,000.


Article from The Portland Daily Press, December 3, 1890

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GENERAL NEWS. Several stores in Coaticook, Que., burned yesterday. Loss $70,000; insurance, $30,000. The business part of Colliowood, a suburb of Cleveland, O., burned yesterday. Loss $50,000. Steamer Bear arrived at San Francisco yesterday from Behring Sea. She reports no evidence of marauders at the seal islands. The first national bank at Texarkana, Ark., suspended Monday. It is the oldest bank in the city. The cause of the suspension is not stated. Three more elections officers were found guilty of conspiracy in Jersey City, N. J., yesterday. In all 67 were indicted and 15 have been tried and convicted. The strike of coal miners in Alabama went into effect Monday and 6000 of the 8000 quit work. The operators state that they will fill the vacant places with negroes. Three Lowell, Mass., hotel keepers have been fined $100 and costs each for keeping liquor nuisances. They were convicted on "spotter" evidence, the police refusing to act. Wm. A. Hunnewell, candidate for alderman in Boston, is charged under the new law with circulating an anonymous circular flecting on the character of another candidate. A company composed of Saugus, Mass., and Kittery parties, propose to establish a route in Kittery and vicinity for gathering milk for the Boston market. The new company is said to be strongly backed finanetally*


Article from Fort Worth Daily Gazette, December 3, 1890

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BUSINESS. RUN ON THE KEYSTONE BANK CONTINUES. PHILADELPHIA, PA., Dec. 2.-The run on the Keystone national bank continues to-day with unabated vigor. All persons presenting checks for $100 or tess were paid in currency, but any whose demands exceeded that amount are given clearing house due bills. By an arrangement with the clearing house banks these due bills will be honored at any bank. Towards 1 o'clook the run seems to have been broken and a long line of depositors waiting their turns rapilly dwindled down, and no new arrivals took the places of those who left. TEXARKANA'S SUSPENDED BANK. Special to the Gazette. TEXARKANA, TEX., Dec. 2.-There are no new developments concerning the suspension of the First national bank here. It is said that only $7000 cash was found among the effects. Cashier Kelsep had large interests in several enterprises here and it is said attempted to float the liabilities of the East Side waterworks and electric light company for large amounts. A special bank examiner from Washington will take charge to-night, and a statement may be expected. There has been no run on the other banks here, but the deposits in every case are largely increased.


Article from San Antonio Daily Light, December 4, 1890

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Texarkana Bank Busted. TEXARKANA, Tex., December 4.The First National Bank of this city has suspended. This is the oldest banking institution in this city, and has had the confidence of the community for many years. The last report of Its condition showed it to be in a healthy state, and the blow fell without previous warning.


Article from Delaware Gazette and State Journal, December 4, 1890

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The First National Bank of Texarkana, Ark., has suspended. The bank officers claim that the losses will be only temporary, as their assets are $225,000, and their liabilities $150,000.


Article from Fort Worth Daily Gazette, December 5, 1890

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BUSINESS. FAILURE AT BOWIE. pecial to the Gazette. BOWIE, TEX., Dec. 4.-Evans Bros. of this city were closed by attachment yesterday. It was thought that they would be able to at once adjust the mat. ter, hence no mention was made in the newspapers, but instead of adjusting, this morning attachments were run for about $15,000. Common report says the liabilities will reach $35,000 and that the assets will only be about $8000. In con. versation with Mr. Evans this morning he stated that the liabilities would not exceed $25,000 and that the assets would amply reach $12,000. This is the great. est failure that Bowie has ever had, and its effect will be felt in all classes of bus. iness in the city. Some time since the dry goods men inaugurated a war among themselves and sold goods at and below prime cost. To this is ascribed their failure. TEXARKANA'S FIRST NATIONAL BANK. Special to the Gazette. TEXARKANA, TEX., Dec. 4.-Examine! Spalding has charge of the effects of the First national bank here, and nothing I developed except that about S6000 was all the cash found in the vaults. FAILURE AT CORSICANA. Special to the Gazette. CORSICANA, TEX., Dec. 4.-Ben Hr. man, a dry goods dealer here, executed a deed of trust to-day to secure the Corsicana national bank and other home creditors for the amount of $3000. Noth. ing is known as to the assets or other lia. bilities. A NEW JERSEY MANUFACTURING COMPANY FAILS. PASSAIC, N. J., Dec. 4.-The Ritten. house manufacturing company went into the hands of a receiver yesterday. The concern employes 700 or 800 hands in the manufacture of woolen blankets, shawls and a variety of plush used in covering railroad car seats. Edward H. Ammidown, president of the American protective tariff league, owns nine-tenths of the stock, and is president of the corporation. The liabilities aggregate nearly $1,000,000, and nominal assets, consisting principally of mill machinery and stock of manufactured goods, are estimated at $800,000. W. Barbour, the widely known thread manufacturer of Patterson, and Belfast, Ireland, was appointed receiver. He qualified at once and took formal possession of the plant. J. M. Moore, attorney of and stockholder in the corporation, said the company had been running at a loss for two years, and were storing a great deal of their product in anticipation of the passage of the McKinley tarif bill. They had been borrow. ing money, and the recent stringency in the money market crippled them. It is also said that Ammidown, either for himself or for the company, put 8 million dollars in wool during the months of June and July, intending to take advantage of a rise in the market following the passage of the new tariff bill. The rise never came and the result has been a loss instead of the anticipated profit.


Article from The Times, December 5, 1890

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Failure of a Texas Bank. TEXARKANA, Tex., Dec. 2.-The First National bank of this city has suspended. The cause of the suspension is not stated. This is the oldest banking institution in the city and has had the confidence of the entire community for many years. A meeting of the stockholders has been called, but no promise is made for an early resumption of business. It is understood that the assets of the bank are amply sufficient to meet all liabilities. There are four other banks here, all in good condition to successfully meet any kind of panic that may ensue.


Article from The Progressive Farmer, December 9, 1890

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FOREIGN NEWS. AN ARKANSAS BANK SUSPENDED. TEXARKANA, Arksas, Dec 2-The - First National bank, of this city, suspended yesterday Several heavy depositors were crippled. Tue bank officers assert the losses will only be temporary, as their assets are $225,000 and their liabilities $150,000. -- Charleston News.


Article from Oxford Eagle, December 11, 1890

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The First national bank of Texarkana, Ark. . has suspended


Article from Fort Worth Daily Gazette, December 11, 1890

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BUSINESS. ATTACHMENTS AT DECATUR. Special to the Gazette. DECATUR, TEX., Dec. 10.-The Schwab clothing company of St. Louis attached the C. C. Jones stock of dry goods for $2353, and Naumburg, Kraus, Lauer & Co. of New York for $3120.47. WILL RESUME BUSINESS. Special to the Gazette. TEXARKANA, TEX., Dec. 10. - The stockholders and officers of the First National bank held a meeting last night, which lasted until 12 o'clock. It was the sense of the meeting to open up business again, and depositors could call. and get their money or let it remain in the bank, as they saw flt. The bank will be doubly strong should it resume business as we learn it can secure all the money that is needed to place it upon its former financial footing. We have talked to several connected with the bank, and they expressed a firm belief that the First national bank would again resume business, and that very soon. TWO FAILURES AT CLARKSVILLE, TENN. CLARKSVILLE, TENN., Dec. 10.-The Franklin bank of this city was suspended this morning. It is a private bank, capital stock $50,000. Assets and liabilities unknown. Kendrick, Pettus & Co., a large tobacco firm, made an assignment to-day. Their liabilities are $41,000, statement of assets not yet been made. CLOSED ON ATTACHMENT. DENVER, CoL., Dec. 10.-The grocery and importing house of John H. Carleton was last evening closed on attachments. The liabilities are $24,000; assets unknown.


Article from The Times, January 20, 1891

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to the sea King, and Captain Bethell WHB OI dered to pay the damages, This the captain refused to do. and one night he shipped his auchors and silled for San Francisco, A Pe: ruvian man-of war was sent in pursuit, but the -ea King eluded her. Fire broke out at 2 o'clock Monday morn ing in the Ave-story brick building occupied by Walbridge & Co., Bhifalo, as a general hardware store. and in less than twenty minutes the whole building and its immense stock valued at $200,000, was destroyed. The cause of the fire is unknown, The escape of some of the firemen from failing walls was almost miraculous, The total loss is about $225,000. The insurance will cover over $200,000. Mr. Walbridge will rebnild. Valley Station, Col. is greatly excited over the noding of the body of Ranchipan Beardslay in his cabin on Saturday with a bullet-hole thr ough his brain. Beardsley had been dead several days. and is supposed to have been assassinated by Ben Booyer, a negro. who had been having questionable relaions with a white woman and was exposed by Boardsley, The latter was from New York If Booyer is caught he will be lynched Between four and five hundred pounds 0, opium. valued at about $7.00 was seized at the Broadway wharf. Oakland, Saturday, while being taken aboard a ferryboat for San Francisco in an express wagon. The driver of the wagon said ne had been directed by 8 man giving the name of Henry Rule, to bring the opium to this city, where the latter would alspose of it. William Bugbee, a farmer. of Lyme, Connecticut. eat some poison alder recently and drew it. together with other cordwood, to his kitchen woodpile. One stick of the poisonous wood WPS put into the kitchen blove, and the noxious fumes of the burning stick overpowered both the farmer and his wife, A physician h d a hard struggle to save Mrs. Bugbee's life. Secretary Noble, in speaking of the Indian situation. Sunday, said he believed the Indians had no legitimate use for fire-arms and therefore should be required to dispose of them He proposed to give the hostile sioux all opportunity as well as an incentive 10 earn his own living. Rumors are afloat that the Chicago, Milwaukie and St. Paul railroad telegrapti operators strike will extend to the Alton and the Illinde Central Nothing definite can be ascertained as to the intentions of the operators on either road Mrs. Mollie Barry, of No. 1,003 California avenue, St Louis, Mo., gave her eight-yearold daughter Mamie, a dose of 'Hough on Rats Saturday afternoon and then took a large quantity of the same poison herself. The mother is dead and the child cannot live. The suicide of Mayor H. 8. Branham, of Litchfield, Minn while temporarily deranged. led to the closing up of the bank in Litchfield, of which Mr. Branham was the cashier. A receiver will be appointed, Lia bilities from $50,000 to $100,000; assets unknown. Ben K. Police, who was arrested in Fort Worth. Texas, Sunday, was formerly City Register of Memphis, Jenn and is a defaulter to the amount of 36.000. There are several indictments pendiogagainst him. Supreme Treasurer Krause of the Patrons of Industry, of Port Huron, Mich,, is $1,400 short in his accounts He says that he used the money in establishing the organ of the order. He promises to repay the amount If given time. Mis Wilbur Barker, teacher at the BassettStreet Public School, in 8 racuse, N. was shot Ave times yesterday by her husb end in the class.r om. Jealousy was the cause of the sho ung. The regular annual meeting and banquet of the Society of the A rmy and Navy of the Confederate states in Baltimore was largely attended. The meeting was held at the Confederate headquarters. The Democrate of the Pennsylvania House and Senate, in joint caucus, nominsted Chauncey F. Black for United States senator last night The First National Bank of Texarkana Ark. which suspended last November, reopened Monday. William M, Evarts was renominated the Senate by the Republican caucus at Albany last night. Demoeratic members of the Indiana Legislature have nominated Senator Voorhees by acclamation to succeed himself. The Republicans nominated G overnor A. P. Hovey, The treachery of the whites in murdering old Few Talls and wounding his squaw came very near ruining General Miles, plans, and greatly complicated the situation,