gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a9a5a957ecafacdf
Response Measures
None
Events (3)
1.October 4, 1924Suspension
Cause
Government Action
Cause Details
State bank examiner A. T. Hammons arrived and ordered the bank and its two branches closed after reserves fell below the legal limit.
Newspaper Excerpt
The Bank of Winslow...failed to open its doors Saturday morning.
Source
newspapers
2.November 21, 1924Receivership
Newspaper Excerpt
Appointment of J. S. Dodson, chief bank examiner, as ex-officio receiver of the Bank of Winslow and its two branches at St. Johns and Holbrook was announced by Andrew T. Hammons, state superintendent of banks.
Source
newspapers
3.May 24, 1925Other
Newspaper Excerpt
BANK RECEIVER MAILS CHECKS TO DEPOSITORS ... Dodson ... today mailed checks to former depositors. first money paid depositors since the bank closed.
Source
newspapers
Newspaper Articles (20)
1.October 10, 1924The Winslow MailWinslow, AZ
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WINSLOW BANK WITH BRANCHES CLOSED DOORS LAST SATURDAY The Bank of Winslow, Winslow. Arizona, failed to open its doors Saturday morning. At the same time the two branch banks of the Bank of Winslow. one at Holbrook, county seat of Navajo county, and one at St. Johns, county seat of Apache county, were ordered closed following the arrival of State Bank Examiner A. T. Hammons, to investigate the condition of the Bank of Winslow. Bank Examiner S. J. Dodson is now in charge. Hammons was called in to take charge Friday evening, after a meeting of the bank's directors at which it was decided that the bank's reserve for the third time within two months had fallen below the legal limit. On both former occasions the reserve was built up to the satisfaction of the state official. The call to the examiner was made at that time to best conserve the interests of depositors and investors. Not a trace of suspicion is attached to the management of the bank, and confidence is expressed that within a few weeks or months the bank's affairs will have been straightened out and depositors will be paid dollar for dollar. No excitement prevailed either here or in the towns of the branch banks, depositors facing the tie-up of their resources with a greater patience and less ill-feeling than probably was ever manifest in the unexpected failure of a financial institution the size of the Bank of Winslow. Immediately after it became known Saturday morning that the bank had been closed. hurried efforts were made to interest Phoenix people in taking over the affairs of the bank. so that the close would be made as brief as possible. Negotiations were entered into with H. J. McClung, president of the Phoenix National, also president of the Arizona Central at Flagstaff with branches in several northern Arizona cities, and also an officer in a large Los Angeles bank. The stress of other business prevented Mr. McClung making a trip to Winslow as he had hoped he might. A message was received from McClung last evening from Los Angeles, by Sam Proctor, publisher of The Winslow Mail, as follows: "Find it impossible to postpone my trip which will require about two weeks. Sincerely trust everything will be worked out satisfactorily to all by the time I return." A meeting of depositors was held at Masonic hall last Sunday afternoon at which time a petition was sent to Governor Geo. W. P. Hunt, asking that in the event the appointment of a receiver was necessary that an outside man, and one who is an expert in banking matters be appointed. Another meeting of depositors was held Tuesday evening in the city hall at which a committee was named to conier with Mr. H. J. McClung in the event that he should come to Winslow to investigate affairs. At that time Mr. McClung had stated that it was possible that he might arrange his affairs so as to make the trip here. However, a larger business matter pending, which called him to British Columbia developed, and the wire of last night precluded the possibility of Mr. McClung's visit here for a matter of at least two weeks. On May 12, this year, the Bank of Winslow was reorganized, with the absorbtion of the Arizona State Bank of Winslow, and the Merchants and A Stockgrowers Bank of Holbrook. branch was established at St. Johns at that time. The bank was capitalized at one hundred fifty thousand dollars. Resources totaled more than one and three quarter millions. The last statement issued, at the close of business June 30, showed deposits subject to check of more than seven hundred fifty-one thousand, and total
2.October 31, 1924The Coconino SunFlagstaff, AZ
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PLANS LAUNCHED TO DECLARE DIVIDEND FOR WINSLOW BANK Announcement that negotiations are now in progress which may make possible the early payment of a dividend of approximately 25 cents on the dollar to depositors of the closed Bank of Winslow was made yesterday by State Bank Examiner A. T. Hammons. Developments have been favorable enough in regard to the institutio. that Mr. Hammons has not yet placed the institution in the hands of a receiver, although his department has taken it in charge. Mr. Hammons spent most of last week there going over the report of examiners and conferring with business men of Winslow. One plan now under consideration is to have another bank established there, to take over the paper of the closed institution which can be realized on at maturity. That move, it is believed, would make possible the immediate dividend of close to 25 cents on the dollar. Additional dividends would be paid as other "frozen" paper is liquidated, said Mr. Hammons. Most of the paper held by the closed bank is that of morally responsible persons who cannot possibly pay now, but who will eventually clear their obligations, Mr. Hammons said. Their lack of funds, he said is due to reverses suffered during the after war depression period.
3.October 31, 1924The Winslow MailWinslow, AZ
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of scarlet fever have been Winslow, especially among children. The homes are being put in strict quarantine, and there seems to be no danger of an epidemic becoming general. Democratic Rally This year's political campaign will wind up in a blaze of glory Monday night at a big rally at Kelly's Pastime hall. All of the county democratic candidates who can be in the city will appear on the platform and make brief addresses. Tools Being Repaired The tools and drills from the Holbrook oil well at Holbrook, were brought to the Old Trails Garage in Winslow this week for sharpening and repair. As soon as the equipment is in shape it will be returned to the well and drilling will he resumed. Jerome Beats Winslow Jerome came up out of the Verde valley Saturday afternoon and took a perfectly good football game away from the home boys by the score of 7 to 6. Tomorrow the Winslow boys will go to Holbrook and take their revenge out on the Holbrook team. Old-Timer Dies Jose A. Gonzales, an old-time resident of Winslow, died last week after a long illness. Jose suffered from stomach trouble and had been unable to work for some months. He had lived in Winslow for about thirty years. Concrete Mixer Broke The big concrete mixer being used on the highway work west of here broke down last week when work of pouring was started on the bridge in Tucker Flats. While new parts for the machine were being awaited a smaller mixer was used in minor concrete jobs on the road. Colored Revival Rev. P. P. Mellon, pastor of the First Baptist church of Flagstaff (colored) is holding revival services in Winslow this week at the colored church on East Third street. The meetings began Tuesday evening and will continue until Sunday evening. Hot Off The Wire A. telegram instrument will be installed in the office of the DavisBryan headquarters in The Mail building next Tuesday afternoon, and an operator will keep his ears glued to the ticker SO that Winslow people, if they are in touch with The Mail, will get their election dope just as fast as returns can be received from over the county, state and nation. Buys Crozer Place George Wrench, Santa Fe engineer, on Monday of this week purchased the Bill Crozer residence on West Second street, at the corner of Hicks avenue. Mr. Crozer is now located at Santa Rosa, California, but lived here until a few months ago. Mr. and Mrs. Wrench will move into the place they have just purchased and will rent their property on Third street. Puts Show on Bum The home talent show which was being planned by the Knights of Columbus of Winslow has been temporarily called off owing to the fact that two of the star performers have recently left town. They were Bud Friday and Ted Otera, both of whom had important roles in the play. Both were employed at the Bank of Winslow, and when the bank closed its doors Friday and Ortega left to fill positions in other cities. To Open Hotel Mrs. Mae Cummings, well-known Winslow business woman, will within a day or two open a hotel at 116 Kinsley avenue, which will be known as the Hotel Delmar. The hotel will be modern in all ways, with running hot and cold water, and other conveniences. Mrs. Cummings has been in the hotel business before in Winslow, at one time having been proprietor of the Statler. She more recently conducted the rooming house over the Opera house on First street. Not Loaded Down Russell Hall's new passenger airplane was loaded but not loaded down when he, W. W. Franklin and Melvin Rushing, made a business trip to Holbrook Tuesday. Not only were there three people in the plane, but a lot. of auto supplies, springs, etc., were carried. Next Sunday the three will take a bunch of supplies to Cooley for the Franklin-Overland company. Hall has been carrying a number of passengers on short flights above the city. Woman's Club Meeting The Women's club held one of their interesting meetings last Friday afternoon, and delegates to the Northern Arizona district convention at Clarkdale this week were elected as follows: Mrs. Bruce Matthie, Mrs. Des Mahoney, Mrs. E. T. Matthews and Mrs. E. E. Friday. An entertaining program was rendered, on which ap peared Miss Marie Carter, who gave
4.November 21, 1924The Coconino SunFlagstaff, AZ
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RECEIVER APPOINTED FOR BANK OF WINSLOW Appointment of J. S. Dodson, chief bank examiner, as ex-officio receiver of the Bank of Winslow and its two branches at St. Johns and Holbrook was announced by Andrew T. Hammons, state superintendent of banks.
5.January 16, 1925The Winslow MailWinslow, AZ
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Depositors of Defunct Bank Hold Live Session After the Santa Fe's big free show at Washington school auditorium Tuesday evening a lively session of the depositors of the defunct Bank of Winslow was called. A committee composed of E. I. Ammerman, Councilman Jes3 Hohn and Mrs. Margaret Schaefer reported on conditions as they had found them following inquiries made of Receiver J. S. Dodson.
6.February 13, 1925The Winslow MailWinslow, AZ
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ed a broken rib and severe cuts on his face. John St. Charles, a pioneer of the state and a business associate of his brother, Senator Keane St. Charles, of Kingman, died in Zelzah, San Fernando Valley, California, Wednesday evening, F. J., Boatright, official fuel conserver of the coast lines, was in Phoenix the past week. J. S. Dodson, receiver of the Bank of Winslow, arrived in Phoenix
7.March 27, 1925The Winslow MailWinslow, AZ
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(Copyright, W. N. U.) RECEIVER'S STAFF CHECKING CLAIMS ON DEFUNCT BANK Claim blanks from depositors in the defunct Bank of Winslow have all been filed, and Judge J. E. Crosby, Judge of the superior court J. S. Dodson, receiver, and Mrs. Stanley Pincetl, secretary, have begun the work of checking. Over 2500 blanks were filed with the receiver, each of which must be compared by each of the three inspectors and checked against the original records. The work is exceedingly tedious nd not more than about 50 a day can be checked. Mr. Dodson states that $160,000 has been paid on the bills receivable against the bank; $76,000 paid to the war finance board during the last few few weeks. Since the close of the old bank on October 3, the expense of operating, which includes all salaries, extra help, and bills of every kind, has been less than $4,000. All building belonging to the defunct bank have been rented and are bringing in $600 per month, which goes to the credit of depositors. Over $1200 has been collected on interest, which has also been turned over to the depositors' fund. The bank is interested in 27,000 head of cattle and 35,000 head of sheep, which outfits are being operated at no expense to depositors, but, owing to the state of the stock market, at no great gain. Mr. Dodson and his staff are working day and night to check up on the claim blanks, and exerting every energy to conserve the assets for the benefits of the depositors.
8.April 3, 1925The Winslow MailWinslow, AZ
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Dodson in Santa Fe. J. S. Dodson, receiver for the Bank of Winslow, left for Santa Fe Tuesday evening for a conference with Eugene Myer, head of the United States War Finance corporation. Mr. Dodson will return this evening.
9.May 22, 1925The Winslow MailWinslow, AZ
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# Many Visitors Attend
# Last Rotary Meeting
Included among the guests of the Rotary club at its noon luncheon Wednesday were Glenn Broderick, Dan Younkin, Sidney Sapp and Harold Prescott, from Holbrook; a Mr. Steiner, from Prescott, and J. S. Dodson, receiver for the Bank of Winslow.
The Rev. W. L. Martin presided as chairman and Walter Olds gave a short business talk.
10.May 24, 1925Albuquerque JournalAlbuquerque, NM
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BANK RECEIVER MAILS CHECKS TO DEPOSITORS
Winslow, Ariz., May Dodson, bank examiner the state, who has been charge here defunct Bank of Winssince the failure that in October, today to former depositors. sesented dividend the approved general claims and first money paid depositors since the bank closed., The largest check drawn for and the smallest for four cents.
11.July 24, 1925The Coconino SunFlagstaff, AZ
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BANK OF WINSLOW MAKES SOME GOOD COLLECTIONS It is said that collections are being made by the receiver of the Bank of Winslow in a most satisfactory manner. Report is that there is nearly er ugh on hand to pay another 10 ner cent dividend, though it is possible that 20 per cent may be paid by the first of October. This being the fact, the news is of a most gratifying nature to the depositors of that defunct institution.
12.August 7, 1925The Winslow MailWinslow, AZ
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Committee Composed Of Depositors Will Meet With Receiver A. T. Hammons, state superintendent of banks, met Tuesday evening at the office of the defunct Bank of Winslow with J. S. Dodson, receiver of the bank, and a committee of ten or twelve depositors which was appointed this week by Mr. Dodson to take part in all important conferences from this time on regarding the interests of the bank. The meeting was held for the purpose of discussing business conditions in the northern part of the state and the condition of affairs of the bank. Mr. Dodson stated at the meeting that he was preparing a list of unpaid notes which would be published in the near future to be distributed to the depositors' committee. He said also that the outlook for the future was most encouraging and that he was working overtime in order to pay a substantial dividend some time in the fall. By working in conjunction with the depositors' committee, he said, a better feeling would be established between the depositors and the bank officials and that this committee would be called together from time to time to discuss all important problems of the bank. Mr. Hammons, in a talk at the meeting, in addition to soliciting the sincere co-operation of all depositors to work with the receiver of the bank, pointed out that the Bank of Winslow had been closed ten months and that in that length of time each borrower had had a chance to adjust his affairs and should be in position to liquidate his indebtedness to the bank. In this connection Mr. Dodson said that, while he had no disposition to work any unnecessary hardships on the borrowers of the bank, he would make every effort to recover every dollar possible of the depositors' money. This applied especially to the cattlemen, he said, as he did not feel disposed to carry these loans indefinitely, and that he was insisting that these borrowers transfer their loans to other banks or loan companies. Mr. Dodson said Wednesday morning that the meeting Tuesday night had resulted in much good from the standpoint of both the depositors and the receiver, and that many suggestions had been offered by the depositors, who are vitally interested in the outcome of the affairs of the bank. The arrangement with the depositors' committee is proving very satisfactory, he said, as they are able to furnish him with information concerning the different borrowers and their financial standing which he would not be able to obtain otherwise, and also that they enable him to keep in closer touch with the depositors of the bank.
13.September 4, 1925The Winslow MailWinslow, AZ
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HOLDERS OF BANK STOCK MUST PAY UP IMMEDIATELY Rumors to the effect that an extension of time has been granted the stockholders of the defunct Bank of Winslow in the payment of the 100 per cent assessment announced in last Friday's issue of The Winslow Mail to have been levied against their stock, are untrue, according to a statement made by J. S. Dodson, receiver of the bank, in an interview yesterday morning. "It is being generally circulated about town," Mr. Dodson said, "that the stockholders of the bank have been given until January 1 to meet their liability. Such is not the case. The bank has been closed for 11 months, during which time the stockholders have had sufficient time to acquaint themselves with the state banking laws and to make arrangements for the payment of this assessment." Since the assessment has been levied, a number of stockholders already have paid their amounts in cash and the remainder of the stockholders' liability must be enforced for the protection of the depositors, Mr. Dodson said. Before the present banking code was passed, petitions and requests from all parts of the state poured into the legislature and governor, demanding that a banking code be passed that would give the depositors in all state banks a maximum amount of protection. Such a law passed and the superintendent of banks is compelled to enforce it. Mr. Dodson states that in his capacity as receiver of the Bank of "Winslow and a representative of the depositors of the bank that that law will be enforced without fear or favor. The recently-formed depositors' committee is proving a great help in bringing about a solution of the problems of the bank, he said. The last meeting of the committee with the receiver was held Wednesday night.
14.September 18, 1925The Winslow MailWinslow, AZ
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Bank Collections For Week Reported Good J. S. Dodson, receiver of the defunct Bank of Winslow, stated to The Mail this morning that collections of accounts in favor of the bank the past week have been very good indeed. Mr. Dodson reported the following payments:
15.January 15, 1926Douglas Daily DispatchDouglas, AZ
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MAY BAR JUDGE PHOENIX, Jan. 14.-J. E. Crosby, superior judge of Navajo county, was ordered today to appear before the state supreme court on January 30 at 10 a. m. to show, cause why he should not be prohibited from sitting in several legal matters which have grown out of the closing by the state bank examiner of the Bank of Winslow and its branches at Holbrook and St. Johns. The order to Judge Crosby was issued on the petition of A. T. Hammons, state superintendent of banks and ex-officio receiver for the Bank of Winslow.
16.May 7, 1926The Coconino SunFlagstaff, AZ
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14SW1SE4, E1/SE14SW%SE 1/4, Sec. 6 T. 15 N., R. 11 E., G. & S. R. M., 137.16 acres; the said sale to be made at the office of Sapp & McLaughlin, Holbrook, Arizona, on the 22nd day of May, 1926, at the hour of 10 o'clock in the forenoon. Dated this 5th day of May, 1926. A. T. HAMMONS, Superintendent of Banks of the State of Arizona, and exofficio Receiver and in charge of The Bank of Winslow, an insolvent banking corporation. May 7 to May 21st.
17.May 21, 1926The Coconino SunFlagstaff, AZ
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14SW%SE%, E1/SE%SW%SE 1/4, Sec. 6 T. 15 N., R. 11 E., G. & S. R. M., 137.16 acres; the said sale to be made at the office of Sapp & McLaughlin, Holbrook, Arizona, on the 22nd day of May, 1926, at the hour of 10 o'clock in the forenoon. Dated this 5th day of May, 1926. A. T. HAMMONS, Superintendent of Banks of the State of Arizona, and exofficio Receiver and in charge of The Bank of Winslow. an insolvent banking corporation. May 7 to May 21st. -Advertisement.
18.August 27, 1926The Winslow MailWinslow, AZ
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DEFUNCT BANK CASES SETTLED FEDERAL COURT PRESCOTT - Nearly a score of cases arising out of the closing of the Bank of Winslow and set for trial before the federal district court and the superior courts of Navajo and Apache counties were settled this week when attorneys for A. T. Hammons, state superintendent of banks, representing the defunct institution, and for the various plaintiffs which included White and the First National Bank of Albuquerque, settled the suits. The case which brought all this to a focus was that of the Albuquerque bank against Hammons and the Winslow bank, with George Jarvis, treasurer of Apache county, appearing as an intervenor. The settlement of the cases, which wipes the heaviest part from the calendars of the Apache and Navajo counties, was pursuant to the consent of Judge Crosby of Navajo county, before whom the receivership is recorded. The only litigation still remaining before the federal court is the claim of the Apache county treasurer against the Bank of Winslow and which, the attorneys for the bank have assured the various plaintiffs, will in no way affect the settlement of the other issues. Favour and Baker of this city represented the plaintiffs in the bank cases, D. E. McLaughlin and Judge Sidney Sapp appearing for Mr. Hammons and the Winslow bank, while the Apache county official is represented by Isaac Barth.
19.September 3, 1926The Coconino SunFlagstaff, AZ
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BANK OF WINSLOW TO PAY DIVIDEND 15 PERCENT OCTOBER 1 Winslow depositors who suffered financial loss when the old Bank of Winslow failed in 1924, will receive a dividend of 15 percent of their loss on or before October 1, according to a report phoned to Winslow yesterday by Judge Sidney P. Sapp of Holbrook. This dividend is the result of decisions recently rendered in Federal District court at Prescott, in which two claims were assigned to the Bank of Winslow. The assignment of the two claims resulted in a third claim being assigned to the bank without court action. The three claims totaled $48,900.00. The claim of C. S. White against the Bank of Winslow in the amount of $27,000.00 and the case of G. E. Greer, against the bank for $5,900.00, in which Greer and White acted as trustees, were assigned to the defunct local institution. In view of these assignments, the case of the First National bank of Albuquerque, N. M., for $16,000.00 was also assigned to the bank. According to Sapp and McLaughlin, Holbrook law firm which is representing the state banking department in the litigation, these assignments mean that depositors will receive the 15 per cent dividend in a short time. This dividend will make a total restitution to date of 40 percent. The first payment, which was made last fall was for 10 percent, and the second, for 15 percent, was made in the early part of this year.-Winslow Mail.
20.December 20, 1926The Winslow MailWinslow, AZ
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but promised to have a statement to make as soon as the full list of indictments was made public. He intimated that his statement would cover thoroughly his findings in connection with the bank's affairs as he found them through his year as receiver. Dodson Promises Statement Mr. Dodson was reticent about making a statement, when asked by a Daily Mail reporter what he thought of the indictments and said he did not care to make a statement about the conditions of the bank until the grand jury report had been made public. "Within the near future, however," Dodson said, "When the complete findings of the grand jury are made public, I promise to give a statement to the public. I believe I know as well as anyone, intimately the affairs of the Bank of Winslow, and was called to Holbrook to testify before the grand jury, but for some reason I was not called but was excused at the eleventh hour." The former chief examiner will leave this morning for Los Angeles on a business trip expecting to return to Phoenix the first of the year when he said he would make 2 statement. The Bank of Winslow closed its doors on October 4, 1924 and Dodson was in charge until November 1925.
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.
