State National Bank (Albuquerque, NM)

View Charter #7186 on SPMC View balance sheet

Episode Information

Episode UID
718601489
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
71860 national
Charter Number
7186
Start Date
January 17, 1924
Location
Albuquerque, New Mexico (35.084, -106.651)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
4c66414181676368

Response Measures

None

Receivership Details

Depositor recovery rate
60.2%
Date receivership started
1924-04-14
Date receivership terminated
1926-06-22
OCC cause of failure
Run
Share of assets assessed as good
42.2%
Share of assets assessed as doubtful
35.2%
Share of assets assessed as worthless
22.6%

Description

Articles state the bank closed Jan 16–17, 1924 and a federal receiver took charge in April 1924.

Events (4)
1. March 28, 1904 Chartered
Source
historical_nic
2. January 17, 1924 Suspension
Cause
Government Action
Cause Details
Bank closed its doors Jan 16–17, 1924 and subsequently placed in receivership; closure appears due to insolvency leading to federal receiver actions.
Newspaper Excerpt
The bank closed on the morning of January 17.
Source
newspapers
3. April 14, 1924 Receivership
Source
historical_nic
4. April 14, 1924 Receivership
Newspaper Excerpt
Francis A. Chapman, United States National bank receiver, ... left last Friday for Albuquerque, N. M., to take charge of the State National bank there.
Source
newspapers

Newspaper Articles (12)
1. April 25, 1924 The Sidney Telegraph Sidney, NE
Article from The Sidney Telegraph, April 25, 1924

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Article Text

SIDNEY MEN RECEIVERS OF ALBUQUERQUE BANK Francis A. Chapman, United States National bank receiver, and assistant Charles Mann left last Friday for Albuquerque, N. M., to take charge of the State National bank there. Mr. and Mrs. Chapman will make their residence at Albuquerque while winding up the affairs of the bank. Mr. Mann will assist him probably two or three months. Harry Wilson, assistant to Receiver Chapman, who has been in charge of the First National bank at Chappell for several months, has taken charge of the affairs of the First National bank of Sidney. He was formerly associated with the winding up of the affairs of the Sidney bank. The assets and property of the Chappell bank have been sold and the receivership of that bank has practically come to a close.

2. July 27, 1924 El Paso Times El Paso, TX
Article from El Paso Times, July 27, 1924

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Article Text

Bank Receiver Sues to Collect on Note SANTA FE, N. M., July 26.—Francis A. Chapman, receiver of the State National bank of Albuquerque, filed suit in federal court today against Joe Mangum, Kay Mangum, Thomas K. D. Maddison, receivers of the State Trust & Savings bank of Albuquerque, Frank B. Mapel, receiver of the Gallup State Bank of Gallup; Levi Hughes, receiver of the Livestock & Agricultural Loan company of New Mexico, and T. A. Pierce, trustee. Judgment is asked against the Mangums for $25,000 and $8,000 with interest. It is prayed that a chattel mortgage, dated October 10, 1922, be declared a valid first lien on all property desired in the complaint, to secure the judgment, that the property be sold and a receiver named. It is alleged that the Mangums, who live in San Juan county, executed a promissory note for $25,000 to the State National bank of Albuquerque, and another for $8,000, which had been made to the Mangums by Tom Rogers.

3. September 26, 1924 The Santa Fe New Mexican Santa Fe, NM
Article from The Santa Fe New Mexican, September 26, 1924

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Article Text

BANK RECEIVER SUES ON STOCK ASSESSMENTS Two suits were filed today in the U. S. District Clerk's office by Francis A. Chapman, receiver of the State National Bank of Albuquerque, to recover on stock assessments. One suit was against T. J. Ross, for $10,000, on an assessment ordered on 100 shares at $100 each. The other suit is against Thomas De Lallo for $2,500 on 25 shares at $100 each. Plaintiff's attorneys are Downer and Keleher, of Albuquerque.

4. October 8, 1924 The Santa Fe New Mexican Santa Fe, NM
Article from The Santa Fe New Mexican, October 8, 1924

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Article Text

BANK RECEIVER SUES MERRITT FOR $14,962 Albuquerque, N. M., Oct. 8.—F. A. Chapman, receiver of the State National bank, has filed suit in the federal district court against Ross M. Merritt for $14,962.67. Of this amount $1,000 is alleged to be due as stockholders' liability and the rest on promissory notes. He also filed suits against Antonio Ortiz for $2,115; against W. L. Childers for $427.98 and against F. A. Sahd for $2,536.18, all alleged to be due on promissory notes.

5. October 16, 1924 The Santa Fe New Mexican Santa Fe, NM
Article from The Santa Fe New Mexican, October 16, 1924

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Article Text

KASEMAN SUED FOR $100,000 BY DUKE CITY BANK RECEIVER Charging that the sum was withdrawn from the now defunct State National bank of Albuquerque just before it closed its doors and "appropriated to the individual use and benefit of the defendant", F. A. Chapman, receiver of the bank, has filed suit in the federal court against George A. Kaseman, former stockholder and director in the bank, for $100,000. This suit is similar to one filed by the depositors some time ago, but later dismissed on motion of the depositors. Another suit by the depositors against Kaseman for $59,315.54 also was dismissed. The complaint in the $100,000 suit alleges: That after the closing of the bank on January 16, Roy McDonald, vice president of the institution, in a telephone conversation, directed the federal reserve bank at El Paso, Texas, to transfer out of funds of the State National bank of Albuquerque on deposit in that institution $50,000 to the New England National bank of Kansas City to the credit of G. A. Kaseman and $25,000 to the City National bank of El Paso, to the credit of G. A. Kaseman. And further, that on the morning of January 17, the State National bank of Albuquerque telegraphed to the New England National bank of Kansas City instructing that institution to transfer $25,000 of the funds of the State National bank to the credit of G. A. Kaseman. The bank closed on the morning of January 17.

6. November 25, 1924 The Santa Fe New Mexican Santa Fe, NM
Article from The Santa Fe New Mexican, November 25, 1924

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Article Text

BANK RECEIVER FILES SUIT FOR $500 ON A STOCK ASSESSMENT Suit was filed in the U.S. district clerk's office here today by Francis A. Chapman, receiver of the State National bank of Albuquerque, against Mrs. Jane L. Walsh Dunlap, asking judgment for $500 and interest. Suit is over an assessment on five shares of stock. George S. Downer, of Albuquerque, is attorney for plaintiff.

7. December 20, 1924 The Santa Fe New Mexican Santa Fe, NM
Article from The Santa Fe New Mexican, December 20, 1924

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Article Text

FILE PETITIONS IN BANKRUPTCY Two voluntary bankruptcy petitions have been filed in the U. S. District court. Frank Knoblock, Jr., of Magdalena, lists debts of $22,443.95, (unsecured claims) and $150, (taxes due the state) and assets of $400, including a half interest in two lots in Magdalena, which he values at $300, five head of horses at $75 and wearing apparel at $25. Among the debts are First National bank of Magdalena, $420; same, $1,695.17; same, $2,665.22; same, $121.20; same, $147.46; same, $325; Becker-Mactavish Co., Magdalena, $1,653.47; same, $505.45; MacDonald Co., Kelly, $607; all on notes); Becker-Mactavish Co., $210.09 (goods bought on open account); Federal Reserve bank, Dallas, Tex., $5,425.25; First National bank of Magdalena, $5,513.73; Bank of Magdalena, $3,150.91 (on judgments). John Jones of Quemado lists debts of $33,633.98, including $1,050 taxes, and $32,583.98 secured claims and assets of $1,192. The secured claims are State National bank, Albuquerque, $18,727.66; State Trust & Savings bank, Albuquerque, $13,856.32. BANK RECEIVER SUES ON NOTES Francis A. Chapman, receiver of the State National bank of Albuquerque, filed suit in the U. S. District court against Frank M. Gomez, Toney Gomez, Refugito R. de Gomez and Jose P. Gomez on promissory notes. The receiver asks judgment for $3,000 with interest at 8 per cent from Dec. 14, 1923; the amount of interest on $3,000 from Dec. 14, 1923, at 8 per cent; the amount of interest on $4,121.23 from Dec. 14 at the same rate; 10 per cent on the amount found due and unpaid for attorney's fees and court costs.

8. March 15, 1925 El Paso Times El Paso, TX
Article from El Paso Times, March 15, 1925

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Article Text

TEN NEW MEXICO BANKERS INDICTED Federal Grand Jury Reports at Santa Fe Scoring National Laws. SANTA FE, N. M., March federal grand jury here late today indicted number prominent New Mexico bankers, including a group involved in the failure of the State Bank and Trust company and the State National bank, of Albuquerque. Violation and conspiracy to violate the federal banking laws are alleged. Defendants named are: J. B. Herndon, Roy McDonald, George A. Kaseman, Ross and Dr. M. K. Wylder, of Albuquerque: Cecil E. Bigelow, Henry T. Brewer, Jr., former bank aminer: Guy W. Blakely, H. Smith, of Roswell, and W. D. Murray, of Silver City. in some cases numerous indictments are brought against the same individual. The national banking laws were heavily scored in report by the grand jury. "It appears," says the report, "that some provision other than those now provided in our laws should be made to punish those responsible for such con. The report recommends laws providing criminal prosecution for granting of excess loans prohibiting formation of livestock loan companies by banks to take care their excess loans; penalization for excessive loans to officers and directors. making all overdrafts part of the bank's prohibiting man from acting as an officer of two banks and control stock by one individual or family: forbidding bank examiners to borrow money from examined banks; and requiring approval of loans in writing by discount commitfee. It is recommended that no tional bank be allowed to accept de. posits while insolvent. John R. Gaunt, former head of the defunct Reserve bank at Reserve, N. M., and postmaster there, was sentenced to two years in Leavenworth and a $5,000 fine for fraud in connection with $100 postal order. M. Nell Smith, assistant cashier of the bank. was given a year and day in the prison, and Mrs. Ida Jones, assistant postmaster, was fined $250.

9. October 13, 1925 The Santa Fe New Mexican Santa Fe, NM
Article from The Santa Fe New Mexican, October 13, 1925

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Federal Court Federal Judge Neblett today sustained the defendant's motion in the case of Nova E. Myrick, because the suit has not been brought within six years after the date of the patent on the homestead. An order was signed by Judge Neblett in the case of the state of New Mexico vs. the State National bank of Albuquerque, N. M., and Francis A. Chapman. receiver of the State National bank of Albuquerque The order sustains the demurrer and dismisses the bill of complaint. In the matter of Almon P. Orier, bankrupt. Judge Noblett signed order disqualifying R. P. Fullerton referee in bankruptcy. If orders the matter be referred George C. Tay lor another referee in bankruptcy in this court. Judge Neblett signed an order allowing payment of attorney's fees in the case of Joseph S. Skarda. bankrupt further orders the payment of other expenses in connection with the case.

10. December 10, 1925 Albuquerque Journal Albuquerque, NM
Article from Albuquerque Journal, December 10, 1925

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ASSIGNMENTS OF ERROR FILED IN FEDERAL COURT Appeal Has Been Taken in the Case of the State Against the State National Bank and Chapman Mail for train No. 2 now closes James N. Bujac, assistant atat 1:40, instead of at Mr. Spitz torney general. and James W. said, because of the change in train Norment, delinquent tax collector schedule. for Bernalillo county, filed in federal court here Wednesday, assignments of error on which the state will rely in its appeal from the judgment of Judge Colin Neblett in federal court at Santa Fe the case of the state vs. the State National bank and Francis A. Chapman, receiver. The case will go to the circuit court of appeals at Denver for trial. This is case in which Norment, on behalf of the State, sued the closed bank and its receiver DAIRY to collect delinquent 1904 and FOR SALE OR LEASE 1923 taxes amounting to $15,266.15. The suit was filed on Established dairy; only experAugust 3. 1925 in the state court lenced dairyman need apply. here. It was transferred to the 400 West Gold federal court at Santa Fe. The defendant demurred on the ground that taxes could not be collected Correct Teaching Method from an insolvent bank in the on hands of a receiver. Judge NebSAXOPHONE lett sustained the demurrer and TROMBONE DRUMS dismissed the suit on October 9. by The assignment of error charges that the court erred in overruling FRED K. ELLIS the plaintiff's motion to remand Studio, 1026 Forrester Phone 302-3 the case to the state court, that it erred in not overruling the defendants' demurrer and in dismisNOTICE sing the complaint.

11. January 6, 1926 Albuquerque Journal Albuquerque, NM
Article from Albuquerque Journal, January 6, 1926

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RETAIN CASE VS. SURETY CO. Sandoval County Commissioners Engage Sedillo and Venable. Subject to Approval of State Officials The Sandoval county commissioners at meeting at Bernalillo Tuesday afternoon decided to retain Sedillo and John Venable as attorneys for the county its suit against the National Surety company to recover Sandoval county money on deposit in the State National bank of Albuquerque when it closed its doors on January, 17. 1924. This federal case and therefore out of the jurisdiction of Mr. Sedillo and Mr. Venable district attorney and assistant district attorney. The Sandoval county commissioners retain them, incounsel. Mr. Sedillo brought the suit, which was for against the surety district court soon after took office year ago. The was transferred federal where judgment of secured for the county being amount due after the deduction of dividends paid the county by the bank The appealed the case, and the to prosecute in the circuit court of appeals. Mr. Sedillo, with them, suggested that they special as he and Mr. Venable did not care to continue the case in federal court. The wished to Mr. Sedillo and Mr. Venable, they were already millar with the case, voted pay retainer of subthe of Judge Milton Helmick, Comptroller H. Carter and Governor T. Hannett.

12. September 17, 1926 Albuquerque Journal Albuquerque, NM
Article from Albuquerque Journal, September 17, 1926

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VENABLE RETURNS FROM ARGUING CASE IN APPEALS COURT John Venable, assistant district attorney, returned Thursday evening from Denver, where he argued before the U. S. circuit court of appeals the case of the National Surety company, appellant, vs. the State of New Mexico, for the use and benefit of Sandoval county, appellee. The decision in the case, which involves about $7.000 of Sandoval county funds formerly on deposit in tHe State National bank of Albuquerque, has not yet been Sandoval CO nty sued originally to recover $17,500 and was given judgment in federal court at Santa Fe for $12,500, which represented the amount deposited less 30 per cent dividend paid by the bank ceiver. Another 30 per cent divident reduced the sum under litigation to $7,000.