Multiple contemporaneous newspaper reports (Jan 9, 1901) state the Greene County Bank at Paragould closed/temporarily suspended due to a discovered shortage (~$30,000–$34,000) and that a receiver will be appointed and depositors paid. No run is mentioned. Classification: suspension leading to receivership/closure.
Events (2)
1.January 9, 1901Receivership
Newspaper Excerpt
A receiver will be appointed and depositors paid in full.
Source
newspapers
2.January 9, 1901Suspension
Cause
Bank Specific Adverse Info
Cause Details
Discovery of a large shortage in funds (reported as about $30,000–$34,000) leading directors to close the bank.
Newspaper Excerpt
Owing to a shortage, this bank has temporarily suspended. A receiver will be appointed and depositors paid in full.
Source
newspapers
Newspaper Articles (11)
1.January 9, 1901The Providence NewsProvidence, RI
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Article Text
DOORS CLOSED. Green County Bank Suspends on Account of a Shortage. Parahould, Ark., Jan. 9.-The Green County Bank has closed its doors and posted the following notice: "Owing to a shortage, this bank has temporarily suspended. A receiver will be appointed and depositors paid in full." It is admitted there is a shortage of $34,000, but Cashier W. H. Ritter claims that no irregularities can be ascertained and that there has been no misuse of the bank's funds. Chancellor Robinson has appointed two expert accountants to make an examination. The bank is capitalized at $30,000. and the last official statement shows its deposits aggregated $66,126.
2.January 9, 1901The Age-HeraldBirmingham, AL
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Article Text
Arkansas Bank Closed. Little Rock, January S.-A Gazette special from Paragould, Ark., says: The Greene County Bank closed its doors today. No statement has been issued, and no cause assigned.
3.January 9, 1901Waterbury DemocratWaterbury, CT
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Article Text
ANOTHER BANK SUSPENDS. Depositors Will Be Paid in Full, How. ever, by the Receivers. Paragould, Ark, Jan 9.-The Greene county bank has closed its doors, and posted the following notice: "Owing to a shortage, this bank has temporarily suspended. A receiver will be appointed and depositors paid in full." It is admitted there is a shortage of $3,000, but Cashier W. H. Ritter claims that no irregularities can be ascertained and that there has been no misuse of the bank's funds. Chancellor Robinson has appointed two expert accountants to make an examination. The bank is capitalized at $30.000, and the last official statement shows its deposits aggregated $66,126.
4.January 9, 1901The Evening TimesWashington, DC
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Article Text
ARKANSAS BANK SUSPENDS. Notice Posted That There Is a Shortage In Funds. PARAGOULD, Ark., Jan. 9.-The Greene County Bank has closed its doors, and posted the following notice: "Owing to a shortage, this bank has temporarily suspended. A receiver will be appointed and depositors paid in full." It is admitted that there is a shortage of $34,000. but Cashier W. H. Ritter asserts that no irregularitles can be found, and that there has been no misuse of the bank's funds. Chancellor Robinson has appointed two expert accountants to make an examination. The bank is capitalized at $30,000 and the last official statement shows its deposits aggregated $66,126.
5.January 10, 1901Bryan Morning EagleBryan, TX
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Article Text
Arkansas Bank Closed. Paragould, Ark., Jan. 9.-The Green County bank closed its doors Tuesday morning and posted the following notice: "Owing to a shortage this bank has temporarily suspended. A receiver will be appointed and depositors paid in full." The shortage amounts to $34.000, but who the defaulter is, is unknown.
6.January 10, 1901The Ohio DemocratLogan, OH
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Article Text
Bank Qu ts. Paragould, Ark., Jan. 9.-The Greene County bank has closed its doors. No statement has been issued and no cause assigned.
7.January 12, 1901The Irish StandardMinneapolis, Saint Paul, MN
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Article Text
Shortage Closes a Bank. Paragould, Ark., Jan. 9. - The Greene county bank has closed its doors and posted the following notice: "Owing to a shortage of $34,000, this bank has temporarily suspended. A receiver will be appointed and depositors paid in full."
8.January 12, 1901The Van Buren PressVan Buren, AR
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Article Text
Closed Its Doors Paragould, Ark.,Jan. 9.-The Greene county bank closed its doors yester. day. No statement has been issued and no cause is assigned.
9.January 15, 1901The Conway Log CabinConway, AR
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Article Text
The town marshal of Ashdown published a notice authorizing any citizen to arrest tramps and turn them over to him to be worked on the public streets. Dr. James Hale, of Osceola, was perhaps fatally shot by the accidental discharge of his revolver. In stooping over the weapon dropped from his pocket. The impact with the floor caused it to explode, the ball entering the doctor's chin. The county judge of Conway county granted a petition for prohibition in the town of Morrilton. The petition was signed by 1,265 citizens. The doors of the Green County Bank at Paragould were closed by order of the directors on the 8th. The officers of the bank gave as a reason for suspension that a shortage of about $30,000 had been discovered, but the depositors will be paid in full.
10.January 17, 1901Griggs CourierCooperstown, ND
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Article Text
Shortage Closes a Bank. Paragould, Ark., Jan. 9. - The Greene county bank has closed its doors and posted the following notice: "Owing to a shortage of $34,000, this bank has temporarily suspended. A receiver will be appointed and depositors paid in full."
11.January 18, 1901The Ely MinerEly, MN
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Article Text
Shortage Closes a Bank. Paragould, Ark., Jan. 9. - The Greene county bank has closed its doors and posted the following notice: "Owing to a shortage of $34,000, this bank has temporarily suspended. A receiver will be appointed and depositors paid in full."
