gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
aff339ae4040be7a
Response Measures
None
Description
Failure driven by apparent embezzlement/insolvency; receiver appointed and criminal charges followed.
Events (3)
1.January 13, 1904Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed due to insolvency/shortfall of funds and alleged embezzlement by officers; promised resumption failed.
Newspaper Excerpt
January 13th the institution closed its doors
Source
newspapers
2.January 27, 1904Receivership
Newspaper Excerpt
it was decided to put the institution into the hands of a receiver, and Fred. Herrera was agreed upon. His appointment was recommended by the territorial auditor to Judge Davis, and Judge Nichols said last night that he supposed the appointment was made yesterday.
Source
newspapers
3.February 1, 1904Other
Newspaper Excerpt
John Dysart, president, and L. R. Swain, cashier, of the International Bank, were arrested ... on warrants charging them with embezzling $21,000 ... The bank closed its doors three weeks ago ... the Territorial Bank Examiner made an examination and asked the court to appoint a receiver
Source
newspapers
Newspaper Articles (20)
1.January 28, 1904Arizona RepublicanPhoenix, AZ
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THE NOGALES BANK FAILURE Fred Herrera Has Probably Been Appointed Receiver. Territorial Auditor Nichols returned yesterday morning from Nogales, where he went to look into the affairs of the suspended International bank, which closed its doors nearly two weeks ago. President John Dessart, of the bank, announced on the morning of the suspension that the bank would resume on the following Monday. At that time announcement was made that the bank would be opened on the next Monday. It was found impossible to make the necessary arrangements for/ resumption. When Judge Nichols arrived at No. gales he brought about a meeting of the officers of the bank and the creditors. It was decided to put the institution ito the hands of a receiver, and Fred. Herrera was agreed upon. His appointment was recommended by the territorial auditor to Judge Davis, and Judge Nichels said last night that he supposed the appointment was made yesterday.
2.January 30, 1904The Williams NewsWilliams, AZ
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The industrial school at Benson has 15 pupils, the last addition being a Papago Indian. The International bank of Nogales, which promised to resume buisness last Monday, failed to make good. The burglar who, in Tucson, a few nights since, robbed a nickle-in-theslot machine of about $80, were certainly utterly devoid of professional courtesy. It is said that in Phoenix the Mexican consul tries to spring a new wife on the community every year. They won't stand for it, and a row has resulted. In thirteen years Phoenix has had only two snows. One of these, the last one, was five years ago, and the people suspended business and everything else to have asnowball frolic. N.P. Sessions, one of the most popular traveling men to make Searchlight, has been transferred by his house, the Pacific Coast Hardware & Steel company, to run through old Mexico. Thursday, February 11, the great battle of ballots will be fought in Safford, Layton, Thatcher, Pima, Central, Eden, Hubbard and Matthewsville precincts to decide whether or not the people shall declare for local option. M.C. Sharpneck came in yesterday from the properties of the Ideal Company, on Groom creek, and left last evening for Kirkland to start up his mill on ores from the Homestake mine, which latter property he purchased some time ago. -Prescott Courier. The principal producers of gold and silver in Arizona are the Congress mine, in Yavapai county; the Commonwealth mine, in Cochise; the Fortuna, in Yuma; the King of Arizona, in Yuma, and the Octave, in Yavapai, whose combined production is estimated at $4,500,000. Some heavy shipments have also been made from the Consolidated mines at Tombstone, whose production for 1904 will doubtless be heavy. One of the most sensational killb ings ever enacted in Graham counh ty occured in Safford Friday afternoon at 3 o'clock. Lawrence Wish S h shot his stepfather, Dr. C. L. Wish, through the heart, killing him instantly, says the InternationalAmerican. The doctor had been calling upon a patient and as he S emerged from the door he was shot e down. Various rumors are rife as to the motive for the killing. It is rumored that the doctor had been e making systematic efforts to poison S his wife and son, and that the latter, . hearing of it, took revenge on his f father.
3.February 2, 1904The San Francisco CallSan Francisco, CA
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BANK ACCUSES ARIZONA MEN President and Cashier of an Institution That Failed Recently Are Arrested at Night CHARGE OF EMBEZZLEMENT Prominent Citizens in the Southwest Go to Jail Because of Alleged Failure to Pay Coin NOGALES, Ariz., Feb. 1.--John Dysart, president, and L. R. Swain, cashier, of the International Bank, were arrested at 1 o'clock this morning at their respective residences by Sheriff Turner of Santa Ciara County, on warrants charging them with embezzling $21,000 belonging to the firm of P. Sandoyal & Co., bankers of that city, which was on deposit in the bank at the time of the recent failure. President Dysart was in bed when Sheriff Turner Came to serve warrants, but was taken at once to the county jail, where he found Swain under arrest. An hour later L. H. Rehart, one of the directors, was served with a warrant while in the lobby of the Montezuma Hotel and locked up on a, similar charge, The imprisoned men have not yet furnished bonds. The bank closed its doors three weeks ago, the officials promising it would resume on the following Monday, but it. failed to do so, whereúpon the Territorial Bank Examiner made an examination and asked the court to appoint a receiver President Dysart is one of the best known
4.February 13, 1904The San Francisco CallSan Francisco, CA
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Indicted Bank Officials Give Bail. TUCSON, Ariz., Feb. 12.-John Dysart. president of the suspended International Bank of Nogales; R. Allyn Lewis, vice prsident, and L. H. Rhuart, director, were released from the Santa Cruz County jail to-day on bonds. Cashier Swain will be brought to this city to-morrow on a writ of habeas corpus. The officials of the bank have been in jail for the last two weeks.
5.February 13, 1904The News-HeraldWickenburg, Martinez, AZ
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LOCAL TAILINGS Fitted and unfitted horseshoes at * Carmichael's. R. L. Comfort, the Phoenix cigar man, was in town yesterday. Aaron Goldberg, one of the leading merchants of Phoenix, has gone to Prescott on business. Herman Voge, one of the leading liquor dealers of Arizona, was in the city, yesterday. looking after business interests in this neck of the woods. Mrs. E. R. Stauffer, wife of the manager of the Prescott Electric Company's telephone at Congress, has gone to Prescott to spend some time with friends. Mr. and Mrs. H. D. Williams, who have been visiting here at Mr. Williams' brother, F. E. Williams, have gone to Los Angeles, where they will spend some time seeing the sights and recuperating. Prof. McMahon, the boxing master of Prescott, was knocked down and robbed the other night. He very foolishly had the large sum of $107 on his person. Few people have so much money, and fewer carry it with them. August Koppe says that the blacksmith shop is still for sale. He has swung the hammer long enough. He is anxious to get the worry of the shop off his hands, and will be glad to give some good man a bargain. Governor Brodie passed through the other day on his way to help settle some trouble between Indians and whites, over lands in Northern Arizona. Phoenix papers say he is looking after some other things on the side, namely: Roosevelt delegates. The International Bank at Nogales has suspended. Part of the of the officers are in jail, and two of them had a fight, the other day, one nearly choking the other. Perhaps the saying that "when rogues fall out honest men get their dues" is applicable in this case, but, 'may be, they will not be able to do any more than find out who got away with their dues.
6.May 7, 1904The OasisArizola, Benson, Nogales, AZ
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voices, appealing eyes, and the frou of silks and satins.
But none of the considerations such as enumerated have counted with those who have struggled to control the municipal government of Nogales: the promised millenium has come, the town is "wide open", and good times will now proceed to return immediately to the line city. With exclusion of the women from the saloons prosperity deserted the place, trade languished, every body lost money and the International Bank collapsed. Now that the women have been restored to the saloons prosperity will straightway return, goods laying unsold upon the shelves of our merchants will go off like hot cakes, everybody will make money, and no doubt the receiver of the International Bank will shortly begin declaring dividends to depositors. Hurrah for the good times now so plainly in sight!
7.June 25, 1904The Coconino SunFlagstaff, AZ
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R. Allyn Lewis, one of the defendants charged with wrecking the International bank at Nogales and skinning the depositors to a fare-you-well, arrived from New York this week and was in Phoenix Monday. His trial will come up at Nogales next week.
President John Dassart of the defunct bank, became insane brooding over the fate of the bank. Dassart has the sympathy of his old-time friends, who believe that he was not responsible for the looting of the bank, which was a clean job, as only about $300 (Mex.) was found in the bank vault when the receiver got hold of the vault key.
8.September 10, 1904The Border VidetteNogales, AZ
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NOTICE. In my absence during the month of September, all persons having claims against the International Bank will please leave same with Mr. Geo. K. French at his office in said bank. F. HERRERA, Receiver International Bank. 9-3-4-t.
9.September 17, 1904The Border VidetteNogales, AZ
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3-t. Secretary. NOTICE. In my absence during the month of September, all persons having claims against the International Bauk will please leave same with Mr. Geo. K. French at his office in said bank. F. HERRERA, Receiver International Bank. 9-3-4-t.
10.September 24, 1904The Border VidetteNogales, AZ
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winner. NOTICE. In my absence during the month of September, all persons having claims against the International Bank will please leave same with Mr. Geo. K. French at his office in said bank. F. HERRERA, Receiver International Bank. 9-3-4-t.
11.December 24, 1904Arizona RepublicanPhoenix, AZ
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# GENERAL LEWIS IN TOWN
The Nogales Litigation Has Been Transferred to Pima County,
General R. Allyn Lewis of New York arrived in the city yesterday. He came to the territory this time on account of the litigation pending at Nogales growing out of the affairs of the late International Bank. He took a change of venue, and the cases were sent to Pima county, where they will be tried at the next term of court. Genera Lewis was accompanied to the city by his attorneys, Street & Alexander, who also acted on the part of the county of Santa Cruz and established a lien on the property of the bank in the hands of Receiver Fred Herrera to secure the money of the county which was in the bank at the time of the failure.
General Lewis was in New York at the time of the excitement on account of the attack upon Amalgamated Copper and the beginning of the controversy between Col. W. C. Greene and Thomas W. Lawson. For several years Mr. Lewis has been more or less intimately associated with Col. Greene in the affairs of Greene Consolidated, and at one time was a heavy holder of that stock.
12.June 23, 1905Bisbee Daily ReviewBisbee, AZ
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What has become of the International Bank failure at Nogales. That institution was cleaned out to the last dollar. When the receiver got possession of the till it contained less than $500 and the greater part of what was cft by the theiving officials was "Mex." So far no one has been punished and none of the money has been returned to the depositors. The collapse of the Arizona Savings and Investment company calls to mind the Nogales affair, which when first announced created a sensation in the border own, but which has been allowed to steal away into obscurity that is not creditable to Arizona.
13.July 1, 1905The OasisArizola, Benson, Nogales, AZ
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RECEIVER WANTS MONEY. Settling of Busted Bank Matters Occasion Three More Suits. Three more suits have been filed in the district court by Fred Herrera, receiver for the defunct International Bank of Nogales. All are for the recovery of money alleged to have been lent to and paid out for the defendants named, by the International Bank, previous to the date of its closure. Suit is brought against Robert J. Kerr for $1,323.07; against George B. Earnshaw for $698.35; against Harry K. Chenoweth and Elisa E. de Chenoweth for $376.15.
14.July 14, 1905Western LiberalLordsburg, NM
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Three more suits have been filed in the district court of Santa Cruz county by the receiver of the International bank of Nogales. All the suits are for the recovery of money alleged to have been lent to and paid out for the defendants named in the suits by the bank previous to the date of its closing.
Three more suits have been filed in the district court of Santa Cruz county by the receiver of the International bank at Nogales. All the suits are for the recovery of money alleged to have been lent to and paid out for the defendants named in the suits by the bank previous to the date of its closing.
16.November 4, 1905The OasisArizola, Benson, Nogales, AZ
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QUITE A DIFFERENCE. Arizona has never had a bank defaulter in its history. The territory is somewhat behind the times in this respect. Ohio today has thirteen bank presidents in the penitentiary, but Arizona is not up to Beveridge's idea of "high civilization. -Phoenix Enterprise. How about the International Bank in Nogales? November 30th, 1903 the report filed with the territorial bank examiner presented resources aggregating two hundred and five thousand dollars, and deposits amounting to one hundred and fifty-five thousand dollars. Six weeks later-January 13ththe institution closed its doors, and the receiver could not find in the bank sufficient value to wad the traditional shot gun. Money, securities and everything but the safe and furniture gone. By aid of the courts he has succeeded in wresting some little property from those who had it. It is true, as says the enterprise, that Ohiosends her defaulting bank presidents to the penitentiary. Arizona don't. That's the difference.
17.June 24, 1906Arizona RepublicanPhoenix, AZ
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EXECUTION RESISTED BY MRS. R. ALLYN LEWIS In the Case of the Suit by Receiver Herrera of International Bank. Suit was filed in district court yesterday by Laetitia M. Lewis against Fred Herrera, receiver of the International Bank of Nogales, and J. E. Walker, sheriff, to prevent the sale of certain property claimed by the defendant under a judgment rendered against her and her husband, R. Allyn Lewis, in favor of Herrera. The amount of the judgment was $5371. The property levied upon consists of the north twenty-five feet of lots 1 and 3 in block 75 of the city and lots 10 and 12 and the west twenty-five feet of lot 8 in block 16 and lots 3 and 4 in block 2 and lot 2 in block 1 of Simms' addition to the city of Phoenix. It is claimed by the plaintiff that all this has been separate property since August 25, long before the failure of the-International Bank, in which her husband was involved, and more than a year before the appointment of Herrera as receiver. Another reason why she thinks the injunction against the sale of the property should be ordered is that the matter has not yet been settled in the courts. When Herrera began trying to save something out of the wreck of the bank he took notice of the above described property and began suit for possession of it in the name of the bank. It was alleged in his complaint that the deed by which the property had been conveyed to Mrs. Lewis was fraudulent and he asked that the deeds be set aside. Herrera was granted judgment and Mrs. Lewis and her husband appealed ao the territorial supreme court, where the judgment of the lower court was affirmed. Thereupon an appeal was taken to the supreme court of the United States, where the matter is now pending. In view of this situation of <the case the injunction is asked for. The date set for the sale of the property is June 26.
18.June 30, 1906The OasisArizola, Benson, Nogales, AZ
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Another Injunction. The execution in the case of the Territory against R. Allyn Lewis, under which property in Maricopa county, alleged to belong to the defendant, was to have been sold this week, has been returned to Nogales unsatisfied, the sale having been prevented by injanction once more. The fight for the property involved already has been up to the supreme court of the territory and may go there again. In the suit against Mr. R. Allyn Lewis, growing out of the collapse of the International bank in this city, the territory, through Mr. Fred Herrera, receiver, secured judgment against Mr. Lewis. To satisfy the jadgment an execution was asked for and was issued against property in Maricopa county alleged to belong to Mr. Lewis. The papers in the case were sent to Maricopo county and were returned unsatisfied, with the statement that Mr. Lewis had no property in that county. It was shown that the property in question was in the name of Mrs. Lewis, it having been deeded to her by her husband previous to the closure of the bank. Suit was next brought in the district court in Maricopa county to have set aside the deeds of transfer, and the deeds were SO set aside by the court. On appeal to the supreme court the finding of the district court was affirmed and the property was advertised for sale to satisfy the judgment. The papers were again returned to Santa Cruz county, arriving here yesterday morning, with the information that the sale had been prevented by injunction again.
19.June 9, 1908Daily Arizona Silver BeltGlobe, Miami, AZ
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The receiver of the defunct International bank at Nogales has declared a dividend of 6½ per cent. This will amount to about $9,000.
20.December 11, 1908Daily Arizona Silver BeltGlobe, Miami, AZ
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Small Dividends Paid Fred Herrera, receiver of the International bank of Nogales, has filed his sixth report, and the court set the amount of his compensation and also that of Mr. Selim M. Franklin, his attorney. It will be remembered that this failure of 1904 was the wort failure on record, the bank failing to the amount of $160,000 and leaving practi cally no assets except what was covered by litigation. Six and one-half per cent dividends were paid by the receiver, which exhausts all the funds on hand, and the receivership will soon be closed.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
