Eudora Bank (Eudora, AR)

Episode Information

Episode UID
81033471571
Episode Type
Suspension → Reopening
Bank Type
state
Bank ID
8103347 routing
Routing Number
81-0334
Start Date
November 17, 1930
Location
Eudora, Arkansas (33.110, -91.262)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
18d8d0f78133965b

Response Measures

None

Events (2)
1. November 17, 1930 Suspension
Cause
Macro News
Cause Details
Affiliated banks suspended for five days amid a panicky statewide banking condition after Exchange Trust action; precautionary group suspension to protect depositors.
Newspaper Excerpt
Eudora Bank and Trust Company, Eudora; ... temporarily suspended business this morning, with announcements being made to the effect that they would reopen for business after five days.
Source
newspapers
2. January 2, 1931 Reopening
Newspaper Excerpt
The Eudora Bank as successor to the closed Eudora Bank and Trust Company at Eudora; announced reopening of three banks today.
Source
newspapers

Newspaper Articles (4)
1. November 17, 1930 Jonesboro Daily Tribune Jonesboro, AR
Article from Jonesboro Daily Tribune, November 17, 1930

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Article Text

BANKS CLOSED TEMPORARILY STATE CITIES Number of Banks Chain Suspend Business Today In Order to Protect Interest of Depositors. Will Open in Five Days After Precautionary Steps Taken. Thirty-two banks in which A. B. Banks, Arkansas financier, is interested, temporarily suspended business this morning, with announcements being made to the effect that they would reopen for business after five days. Capitalists viewed the closing of the banks with little alarm, expressing the belief that the banks are all absolutely solvent and that their temporary closing is for the protection of depositors and to avoid runs that might have resulted from the present panicky condition of the state. Fortunately, no Jonesboro banking interests were in any way connected with any of the banks that closed, according to statements made this morning. The following United Press dispatch tells of the temporary closing of the banks: LITTLE ROCK, Ark., Nov. 17.—The following banks in which A. B. Banks company is interested suspended business temporarily this morning: Bank of Altheimer, Altheimer; North Arkansas Bank, Batesville; Bank of Bauxite, Bauxite; Benton Bank and Trust Company, Benton; Arkansas State Bank, Carlisle; Bank of Carthage, Carthage; Farmers Bank, Casa; Bank of Clarendon; Farmers Bank, Dardanelle; Eudora Bank and Trust Company, Eudora; Hampton State Bank, Hampton; Cleburne County Bank, Heber Springs; Merchants and Planters Bank, Helena; Arkansas Bank and Trust Company, Hope; Bank of Houston, Houston; Merchants and Planters Bank, Humphreys; First National Bank, Junction City; Merchants and Farmers Bank, Junction City; Cleveland County Bank, Kingsland; Chicot Trust Company, Lake Village; American Exchange and Trust Company, Little Rock; First State Bank, Osceola; Bank of Pangburn, Pangburn; Perry State Bank, Perry; Merchants and Planters Bank and Trust Company, Pine Bluff; Victoria Bank, Strong; First State Bank, Thornton; Bank of Wabbaseka, Wabbaseka; Grant County Bank, Sheridan; Exchange Bank and Trust Company, Dermott. Bank of Fordyce, Fordyce; Exchange Bank of Dermott, and Sheridan, closed at noon, due to heavy runs this morning.

2. November 17, 1930 The Birmingham News Birmingham, AL
Article from The Birmingham News, November 17, 1930

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Article Text

PAYMENTS HALTED BY 30 BANK UNITS Suspension For Five Days Announced By Houses In Arkansas Towns LITTLE ROCK. Ark., Nov. 17-(P) Banks Company announced 30 banks in Arkansas with affiliated. suspended depositors for period of five days. Eight other affiliated banks advised the Banks Company they open. The company had heard early Monday from others as to what they were taking The the board of directors the Exchange Trust of Little Rock. the largest bank in the Sun day night suspend payments and close for five days resulted in the temporary closing of the others, the announced Banks, president of the Exchange, is in the others. The banks in which Mr. Banks and are which pended for the follows Bank Altheimer, Altheimer: North Arkansas Batesville: Bank of Bauxite. Bauxite: Benton Bank Company Bank. Carlisle: Bank Carthage, Carthage: Farmers Casa Bank Clarendon, Clarendon: Farmers Hampton State Bank, HampCounty Heber Merchants Planters Bank. Bank Houston. Planters Bank, Humphrey Cleveland County Bank, Kingsland: Chicot Trust Comchange Trust Little Rock: First State Bank. Morrilton Arkansas Trust Newport: Bank Pangburn. Pangburn: State Merchants Planters Company, Pine Bluff: of Star City, Star Victoria Bank. Strong: First State Bank, Stuttgart: Citizens Bank, Thornton: Bank Wabaseka: Bank Trust Company Bank and the Eudora Bank & Trust Company, The following banks affiliated with Mr. Banks remained open for busithe company Bank Fordyce and First NationBank. Fordyce: Bank of Harrisburg. Harrisburg First National Bank, Mineral Springs Bank Stephens. Stephens, and Bank of being at Junetion to merge the First Nationand & Farmers Banks and open one them. officials said. Kentucky National Bank Is Closed By Directors National Bank placed the hands of the national examiner Monday was posted on the door of the bank shortly after "This bank under the direction the comptroller of the currency charge Russell Mooney, national examiner. Closed by order the directors Louisville Trust Company, an affiliated also has been ordered closed. The trust company directors' said that in the opinion of its officers directors the Action taken by the directors of the Bank of Kentucky was conserve the bank for the benefit of its creditors,' the ressaid National Bank of Kentucky originally known Bank Kentucky, was 1834. with capital stock of $5,000,000. advertised than $50,000,000. James B. Brown president.

3. January 3, 1931 The Morning Union Springfield, MA

Article Text

Affairs of New York Bank "Scrambled." NEW YORK, Jan. 2—(AP) The intermingled financial affairs of four subsidiary corporations of the closed Bank of United States were described today as a "corporation omelet" at a bankruptcy hearing on the affairs of the corporations. Carl J. Austrian, representative at the hearings for Joseph E. Broderick, state superintendent of banks who closed the institution last Dec. 11, offered this comment on the situation after Saul Singer, vice-president and chairman of the bank's executive committee, testified on the financial structure of the four companies. Singer declared all four were solvent. The subsidiaries, which went into bankruptcy last Wednesday, are the Bankus Corporation of New York, the City Financial Corporation, the Municipal Financial Corporation and the Delaware Bankus Corporation. After long and involved testimony, counsel for the receiver asked Singer, "If a man had 100 shares of City Financial he then received 56 units, each unit made up of one share of Bankus Corporation and one share of Bank of United States. Is that right?" "Yes, that's right," the witness replied. In response to a question as to how much had been raised for the corporations from the public, Singer said $33,500,000 had been raised and then an additional $14,700,000 had been borrowed, making a total of $48,200,000. Mississippi Banks Close. JACKSON, Miss., Jan. 2—(AP) Withdrawals by depositors today was given as the reason for the closing of five Mississippi banks taken over by state and Federal departments. The closed banks were the First National Bank of Pontotoc, with deposits of $600,000 and capital stock of $125,000; Bank of Pontotoc, deposits $534,000 and capital stock $100,000; Citizens' Bank at Winona, deposits $260,000 and capital $25,000; Bank of Blue Mountain with deposits of $179,000 and capital $10,000; Bank of Derma with deposits of $50,000 and $10,000 capital. Arkansas Banks Reopen. LITTLE ROCK, Ark., Jan. 2—(AP) State Banking Commissioner Walter E. Taylor announced the reopening of three banks today. Those reopening are: The Eudora Bank as successor to the closed Eudora Bank and Trust Company at Eudora; the Bank of Salem at Salem and the Farmers' Bank at Casa. Alabama Bank Closed. MONTGOMERY, Ala., Jan. 2—(AP) Dent F. Green, state superintendent of banks, announced late today the People's Bank of Gilbertown had closed. Capital stock was listed at $15,000 with a surplus of $3000. Deposits on Nov. 20, 1930, were $61,880.

4. January 3, 1931 Chattanooga Daily Times Chattanooga, TN

Article Text

LOCAL MARKETS Butter, and Ess Co.) candled colored Leghorn colored (up to lbs.) Stags lbs. Roosters Ducks 10c Butter Fruits and Vegetables. Quota Co. 88 Arkansas Blacks. 138 Rome Beauty fancy, bushels bushels Flemish extra fancy 2.75 Beauty, fancy. 110-120-135s extra Oranges. 126 Oranges, bushels Oranges. special Cranberries. Rhubarb. Canadian. 100 Tomatoes. Fla crate Cabbage. per 100 Brown Beauty 100 lbs. 100 round sweet. per bushel Onions. pounds Parsley dozen Lettuce dozen dozen Bank Suspensions. JACKSON. Miss., Jan. 2 (AP) Withdrawals by depositors today caused five Mississippi banks to close their doors. Combined deposits affected in the national bank, approximated The closed were the First National Bank of Pontotoc, deposits of $600,000 and capital stock of $125,000 Bank of Pontotoc, deposits. $534.000 and capital stock, $100,000; zens bank. deposits, $260.000 and capital $25,000; Bank of Blue with deposits of $179,000 and capital, Bank of Derma, with deposits of $50,000 and $10,000 capital. LITTLE ROCK, Ark., Jan. (AP) State Banking Walter E. ylor announce today the reopening of three banks. closing of one and suspension of another Those reopening were the Eudora bank as successor the closed Eudora Bank and Trust company, at Eudora: Bank of Salem. reorganized at Salem, and the Farmers bank, at Closing of the Interstate National bank at and suspension for five days of the Bank of Marvell, at Marvell. left Phillips county without a banking institution. MONTGOMERY, Ala., Jan. 2 (AP) Dent Green, of banks. announc late today that the Peoples bank, of had its doors. Supt. Green was informed by President W. Rudder that bank been today upon approval of the board of directors, asked that state banking department take over the firm's affairs. Capital stock was listed at $15,000, with surplus of Deposits on Nov. 20, 1930, were $61,880. Supt. Green attributed the bank's