Guaranty State Bank (Fort Worth, TX)

Episode Information

Episode UID
37001871503
Episode Type
Run → Suspension → Closure
Bank Type
state
Bank ID
3700187 routing
Routing Number
37-0018
Start Date
March 16, 1925
Location
Fort Worth, Texas (32.725, -97.321)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
ebe67f74588f5ac0

Response Measures

None

Description

Contemporary reports attribute the trouble to idle gossip/rumor; bank was placed in hands of state commissioner and liquidated.

Events (3)
1. March 16, 1925 Run
Cause
Rumor Or Misinformation
Cause Details
Contemporary accounts say idle gossip and rumors created a small run when bank opened.
Measures
Directors closed the bank and placed affairs in hands of the state banking commissioner.
Newspaper Excerpt
A brief run on the Guaranty State Bank... caused members of the board of directors to vote to close the bank about 9:30 a. m.
Source
newspapers
2. March 16, 1925 Suspension
Cause
Government Action
Cause Details
Directors voted to close and placed the bank in hands of the state banking commissioner for protection of depositors.
Newspaper Excerpt
Affairs of this bank are in the hands of the banking commissioner of the State (notice on front door).
Source
newspapers
3. April 10, 1925 Receivership
Newspaper Excerpt
State funds will be given Fort Worth State Bank to liquidate accounts... Banking Commissioner here checking books of insolvent institution. (Record-Telegram, Apr 10, 1925).
Source
newspapers

Newspaper Articles (9)
1. March 16, 1925 The Houston Chronicle Houston, TX
Article from The Houston Chronicle, March 16, 1925

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Article Text

FORT WORTH STATE BANK CLOSES DOORS Fort Worth Texas, March 16. The Guaranty State Bank Main and Eighth streets, closed its doors this morning On the front door appeared the following notice "Affairs of this bank are in the hands of the banking commissioner of the State R. J. Rhome is president of the urday that the State Bank was to be consolidated with another the deal was not completed. "The bank opened usual today Williams small on the bank the board of of this run they decided that in the interest of the bank should be placed in the hands of state The did not know what caused Todd residing Sunday as the of fall in the Port where he Death due to Internal caused by accidental fall from an the result of an made who The negro died in amon the GRAY WINS ON FOUL Texas March Gray of San Antonio was fouled in the fourth round the over "Tiger" Joe company scheduled for athletic fair

2. March 16, 1925 Fort Worth Star-Telegram Fort Worth, TX
Article from Fort Worth Star-Telegram, March 16, 1925

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Article Text

GUARANTY BANK IS CLOSED BY DIRECTORS A brief run on the Guaranty State Bank, Eighth and Main Streets, Monday morning caused members of the bord of directors to vote to close the bank about 9:30 a. m. The run began when the bank opened and 15 minutes later, the bank closed its doors. "This action was taken," Deputy State Banking Commissioner W.A. Williams who is now in charge said, "by the bank directors who believed It best for the protection of No statements was made of the bank's condition other than that its stock is $100,000, its surplus and profit $17,000 and deposits R. Rhome president of the clearing house, is also president of (CONTINUED ON PAGE 4)

3. March 16, 1925 Wichita Falls Times Wichita Falls, TX
Article from Wichita Falls Times, March 16, 1925

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Article Text

GUARANTY STATE BANK FORT WORTH CLOSES ITS DOORS FORT WORTH. March 16 Guaranty State Bank, Main Eighth closed doors Monday front door appeared the \ffairs of this bank are in the hands of the banking of Rhome is president of the reported unofficially State Bank was another bank. However, the deal was not The bank opened as usual Monday at Deputy BankWilliams. small run on the bank caused the board of directors to go into this they cided the should be placed the hands the state sioner bank officials did not caused the

4. March 16, 1925 San Angelo Evening Standard San Angelo, TX
Article from San Angelo Evening Standard, March 16, 1925

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Article Text

SHUTS Guaranty State of Fort Worth in Hands of State Commissioner Interest of Depositors. By the FORT WORTH, March Guaranty State Bank of Fort Worth closed doors morning. On the door appeared the following notice: "Affairs of this bank are in the hands of the Banking Commissioner of the State of Rhome President. It was reported Saturday that the bank was to be consolidated with another bank. However, the deal was completed. "The bank opened usual said Deputy ing Williams. small run bank caused the board directors to go into session Because this run they decided that in the interest of the depositors bank should be placed the hands the The bank officials do not know caused the run.

5. March 17, 1925 The Houston Post Houston, TX
Article from The Houston Post, March 17, 1925

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Article Text

FT. WORTH BANK CLOSES DOORS Small Run Causes Action, Deputy State Banking Commissioner Says. (Associated Press.) FORT WORTH. Texas, March 16. The Guaranty State bank, Main and Eighth streets, closed its doors Monthe front door appeared the following notice "Affairs of this bank are in the of hands of the banking commissioner the State of R. J. Rhome is president of the bank. urday that the Guaranty State bank was to consolidated with another bank. However, deal was not the completed. The bank opened as usual Monday at said Deputy Banking Commissioner "A the bank caused the board of run on directors into session. Because of this run they decided that in the interest of the depositors the bank should be placed in the hands of The bank officials did not know what caused the

6. March 17, 1925 The Waco News-Tribune Waco, TX
Article from The Waco News-Tribune, March 17, 1925

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Article Text

Fort Worth Bank Closes Its Doors After Short Run By The Associated Press FORT WORTH, March 16.—The Guaranty State bank, Main and Eighth streets, closed its doors Monday morning. On the front door appeared the following notice: "Affairs of this bank are in the hands of the banking commissioner of the state of Texas." R. J. Rhome is president of the bank. It was reported, unofficially Saturday that the Guaranty State bank was to be consolidated with another bank. However, the deal was not completed. "The bank opened as usual Monday at 9 a. m." said Deputy Banking Commissioner Williams. "A small run on the bank caused the board of directors to go into session. Because of this run, they decided that in the interest of the depositors, the bank should be placed in the hands of the state commissioner. The bank officials did not know what caused the run."

7. March 17, 1925 The Waco News-Tribune Waco, TX
Article from The Waco News-Tribune, March 17, 1925

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Article Text

By The Associated Press FORT WORTH, March 16.—The Guaranty State bank, Main and Eighth streets, closed its doors Monday morning. On the front door appeared the following notice: "Affairs of this bank are in the hands of the banking commissioner of the state of Texas." R. J. Rhome is president of the bank. It was reported, unofficially Saturday that the Guaranty State bank was to be consolidated with another bank. However, the deal was not completed. "The bank opened as usual Monday at 9 a. m." said Deputy Banking Commissioner Williams. "A small run on the bank caused the board of directors to go into session. Because of this run, they decided that in the interest of the depositors, the bank should be placed in the hands of the state commissioner. The bank officials did not know what caused the run."

8. April 10, 1925 Fort Worth Record-Telegram Fort Worth, TX
Article from Fort Worth Record-Telegram, April 10, 1925

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Article Text

NON-INTEREST DEPOSITS TO BE TAKEN UP State Funds Will Be Given Fort Worth State Bank to Liquidate Accounts. Texas Banking Commissioner Here Checking Books of Insolvent Institution. hearing deposits of the Guaranty State Bank will be paid off beginning early next week from State guaranty funds Payments will be the Fort Worth made through State This announcement made yes terday by Marcus Bright. president of the Fort Worth State Bank under advisement of Banking Commissioner who has been in Fort Worth several days checking over the assets of the Guaranty State Bank. Strenuous efforts were made by directors friends of the Guaranty State Bank to save the in stitution form going upon the rocks. H. Long. vice president of the bank. offered to put up $50.000 out of his funds to save the bank. if possible. GOSSIP TO BLAME Austin yesterday gave The Record some of the details of the struggle to prevent bank from He expressed the opinion that idle gossip and rumors created run on the bank for which not "The bank would have been merged another Fort Worth he not the run occurred just as did. This prevented negotiations under way from maturing with the result the bank doors were closed. The merger referred to Mr. Aus tin had been under for some time, was made known yes terday. and would have taken place at the close of business the day the bank closed had not the run curred. BI SY CHECKING UP Tellers and have been busy checking up all accounts gether with the assets of the institu tion. This checkup it is ed. be completed this week and enable the Banking Commissioner to direct the payments from the State fund to depositors of interest bearing ac counts. Mr Austin said yesterday Arrangements have about been completed for placing in the hands of President Marcus Bright of the Fort Worth State Bank ample funds liquidate non-interest bearing counts of the Guaranty State Bank. Referring to the of banks throughout Texas, Mr. Austin said that all banking institutions were en joying very healthy business and that he found little cause for dis"Texas banks are sound and solid. and there plenty of money avail

9. August 6, 1925 The Courier-Gazette McKinney, TX
Article from The Courier-Gazette, August 6, 1925

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Article Text

Pithy, Pointed Paragraphs By J. BRICE COLLINS. All normal people would like to be popular, but sometimes some think the price too high. America has become the modern alibi for straying into forbidden paths. One of the most valauble admonitious St. Paul gives us is: "Prove all things. Hold fast that which is good.' There is a vast physical difference between animals of the same breed. For instance some rats, hogs and hyenas are quadrupeds and some are bi-peds. When I hear some swell professionals an delericals prate about "service" I am compelled to conclude that they hold the same opinion of the people that Barnum held. Real service and altrucism are synonymous There can be no real service in the moral or religious sense without sacrifice. I believe it to be psychologically time that when a man arrives at the point where he is willing to face the exact truth about himself, he has also reached the point where he can better estimate the character of others. But in neither instance is the exact truth apt to contribute to his happiness. I am glad to record on the authority of a famous publisher that the demand for serious non- fiction works like Well's Outline of History and Papini's Life of Christ is increasing. I want to say again in this column that I regard the latter as the greatest book ever printed in any language except the Bible. The Fort Worth Record in a story about the failure of the Guaranty State Bank of Fort Worth, quoted Commissioner Auctin thus: "I believe that idle gossip and rumors created a run on the bank for which it was not prepared." "Idle gossipers" and rumor spreaders belong to the most dangerous class of near-criminals. This instance is recurrent proof. If they can not be segregated they should, at least, be ostracised. Some years ago Sam Mayfield, of Fort Worth had a dream, and after years of unremitting effort his dream will soon come true. Sam Mayfield - was fired with zeal to help misfits and the down-and-outs. He rented a vacant store-room up on Main street, and the Union Gospel Mission was launched. Services have been held informally every night in the week through the year. The publican, the sinner and the harlot have been welcomed. -When Mayfield couldn't get some preachers or laymen to talk he filled in. Bishops and backwoods pastors have spoken there, and hundreds who would not have felt welcome in a "regular" church have been spiritually and physically rehabitated. And now the people who have money have "come across" and will build for this God's man a permanent home to cost $175,000. No derelict will be turned away. Mayfield has been ministering to the physical needs of 65 daily for some time. When the new home is completed its capacity will be 200. And if 200 misfits come every day he will clothe and feed them, and hunt a joh for each of them. Mayfield says: "You can't stick a few pennies in his pocket. If he is cold, hungry, fired and sore at the world and without funds, it would be wasting good time and effort."