gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
5ce84681b9715dc9
Response Measures
None
Description
Bank voluntarily suspended in 1921 and reopened, but later closed permanently Feb 27, 1922 with a receiver appointed.
Events (6)
1.March 23, 1921Suspension
Cause Details
Voluntary suspension amid state banking distress; no specific rumor or insolvency cited in notices
Newspaper Excerpt
three Arizona banks today voluntarily closed their doors ... the Exchange Bank of Peoria
Source
newspapers
2.March 27, 1921Reopening
Newspaper Excerpt
The Exchange Bank of Peoria ... probably will be open the latter part of this week ... $10,000 in time deposits was pledged to the bank ... to be deposited for a year.
Source
newspapers
3.April 20, 1921Reopening
Newspaper Excerpt
the Exchange bank of Peoria is to open its doors today ... depositors have signed an agreement to accept certificates of deposit payable 12-16 months after April 1.
Source
newspapers
4.February 27, 1922Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed prior to appointment of receiver; later indictment alleges embezzlement by president two days before failure
Newspaper Excerpt
The Exchange Bank of Peoria closed its doors Feb. 27 of this year.
Source
newspapers
5.March 15, 1922Receivership
Newspaper Excerpt
Judge Frank H. Lyman ... ordered the institution into involuntary liquidation ... to name a receiver for the Exchange Bank of Peoria.
Source
newspapers
6.June 28, 1922Other
Newspaper Excerpt
C. F. Dalton, president of the Exchange Bank of Peoria ... arraigned ... on a charge of embezzlement ... alleged that Dalton appropriated $2,121.33 of the bank's funds two days before its failure.
ARIZONA BANKS CLOSE Phoenix Ariz Mar 23 Three Antz ona banks today voluntarily closed their doors and is fourth began demanding SINCE days notice of intention to with draw savings deposits except :11 emergood cases The three banks which suspended business were the Citizens' State bank of Phoenix the Central Bank of Wick enbury and the Exchange Bank of Peor11t Arizona Each was capitalized at $ 20 000 The Commercial National Bank of Phoenix today began requiring notice from depositors sixty days before sav accounts are withdrawn
2.March 24, 1921Bisbee Daily ReviewBisbee, AZ
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3 MORE BANKS IN STATE CLOSE PHOENIX, March 23.-Suspension of business by three Arizona banking institutions today overwhelmed the state banking department. in the of. fice of State Auditor Charles W. Fairfield, with work. The department was without enough examiners to take charge of the closed institutions so Mr. Fairfield appointed two temporary examiners. The banks closed and the men placed in charge of each were: The Citizens State Bank of Phoenix, with H. M. Moritz, deputy bank examiner in charge: the Exchange Bank of Peoria, with K. G. Freeland/ formerly assistant cashier of the Central Bank of Phoenix. in charge: and the Central Bank of Wickenburg, with E. L. Riggle in charge. The general appropriation bill passed at the last session of the legislature provides funds for two more deputy bank examiners but this. money will not be available until July first. The state has funds in all of the institutions which closed, but the money is said to be amply secured by bonds.
3.March 27, 1921Arizona RepublicanPhoenix, AZ
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EXCHANGE BANK OF PEORIA PROBABLY TO REOPEN THIS WEEK The Exchange Bank of Peoria, which voluntarily suspended business last Wednesday, probably will be open the latter part of this week as the result of the fine spirit being shown by the depositors and citizens of the Peoria community, it was announced yesterday. Added assurances that the Peoria bank will be opened on an amply strong footing was given yesterday afternoon when $10,000 in time deposits was pledged to the bank at an informal meeting of about 75 depositors. It took but ten minutes for the amount to be subscribed and deposited in the bank; It is not to be withdrawn for a year. The fact that the bank must be reopened on a solid and secure basis was emphasized by J. H. Smithey, examiner now in charge of the Exchange
4.March 27, 1921Bisbee Daily ReviewBisbee, AZ
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Deposits Pledged. Peoria Bank Will Reopen Very Soon J. H. PHOENIX. March 26. Smithey, state bank examiner in charge of the Exchange Bank of Peoria. which voluntarily suspended business last Wednesday, today declared that the bank would reopen as soon as he could complete checkng the books, which will take two or three days more. Mr. Smithey made nnouncement at a meeting of some of the larger depositors in the bank at which the depositors pledged themselves to leave funds amounting to approximately $10,000 in the bank for a year. The pledges were made in about 10 minutes. The meeting today was preliminary to one to be held by all depositors Monday night. at which efforts will be made to bring the pledges to a total of $25,000. Those at today's meeting said they were sure this goal could be reached. At the meeting today the depositors pledged themselves not only to leave present deposits in the institution, but to add to them. Business men of Peoria also have offered to take over deposits of all who wish to get their money at once by giving them merchandise worth the amount of their deposits. In his address Mr. Smithey declared that the bank must be reopened on a secure basis.
5.March 27, 1921Tombstone EpitaphTombstone, AZ
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3 MORE BANKS IN STATE CLOSE PHOENIX. March 23.-Suspension of business by three Arizona banking institutions today overwhelmed the state banking department, in the office of State Auditor Charles W. Fairfield. with work. The department was without enough examiners to take charge of the closed institutions so Mr. Fairfield appointed two temporary examiners. The banks closed and the men placed in charge of each were: The Citizens State Bank of Phoenix, with H. M. Moritz, deputy bank examiner in charge; the Exchange Bank of Peoria, with K. C. Freeland, formerly assistant cashier of the Central Bank of Phoenix, in charge; and the Central Bank of Wickenburg. with E. L. Riggle in charge. The general appropriations bill passed at the last session of the leg. islature provides funds for two more deputy bank examiners but this money will not be available until July first. The state has funds in all of the institutions which closed, but the mony is said to ze amply secured by bonds.
6.April 1, 1921Graham GuardianSafford, AZ
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PEORIA AND PHOENIX BANKS TO REOPEN SOON Phoenix-Charles W. Fairfield, state superintendent of banks, last Friday, announced that plans were being worked out whereby the Citizens State Bank of Phoenix, and the Echange Bank of Peoria, both of which voluntarily suspended business Wednesday, March 23d, would be reopened in the near future. He said depositors and bank officials were cooperating in arranging for the re-openings.
7.April 1, 1921The Coconino SunFlagstaff, AZ
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SALT RIVER VALLEY BANKS TO REOPEN SOON Reorganization of the Citizens' State bank of Peoria, and the Exchange bank of Peoria, will be completed soon and both institutions will reopen without a loss of a cent to the depositors, it was announced by Charles W. Fairfield, state superintendent of banks. Both banks voluntarily suspended business Wednesday.
8.April 3, 1921Tombstone EpitaphTombstone, AZ
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PHOENIX BANK WILL RE-OPEN IN FEW DAYS PHOENIX. March 27.-J. H. Smiteey. state bank examiner in charge of the Exchange bank of Peoria. which voluntarily suspended business last Wednesday. today declared that the bank would reopen as soon as he could complete checking the books which will take two or three days more. Mr. Smithey made his announcement at a meeting of some of the larger depositors in the bank. at which the depositors pledged themselves to leave funes amounting approximately to $10,000 in the bank for a year. The pledges were made in about ten minutes. The meeting today was prelimina to one to be held by all depositors Monday night at which efforts will be made to bring the pledges to leave deposits in the bank for a year to a total of $25,000. Those at today S meeting said they were sure this goal could be reached. At the meeting today the depositors pledged themselves in the institution. but to add to them. Business men of Peoria also have offered to take over deposits of all who wish to get their deposits. In his address Mr. Smithey declared that the bank must be reopened on a secure basis
9.April 27, 1921Weekly Journal-MinerPrescott, AZ
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FAIRFIELD HAS ONE BANK OPEN Deposit Slips With Deferred Installment Payments Arranged to Save Peoria Bank; Central Bank Outlook Brighter (Journal-Miner Capital Bureau) PHOENIX, April 20.-Under a plan of reorganization which has been approved by Chas. W. Fairfield, state bank superintendent and auditor, the Exchange bank of Peoria is to open its doors today. An increase has been made in the bank's surplus, though not in its capital. The depositors have signed an agreement to accept certificates of deposit, payable 12, 13, 14, 15 and 16 months after April 1, each payment representing a fifth part of the original deposit. The plan for the reopening of the Central bank of Phoenix is still meeting with favorable consideration, and it is stated on good authority that the bank will reopen shortly, without the necessity of going thru an expensive receivership.
10.March 3, 1922Arizona RepublicanPhoenix, AZ
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BENEFIT IN PEORIA BY WOMAN'S CLUB PEORIA, Mar. 2-The Peoria Woman's club will give a benefit play at the grammar school auditorium, Friday night, March 3. The money derived from the play will be used to further the interests of the library which was recently opened by the club for community use. In order that all will be interested in the play the ladies have secured good talent to give the play and a small admission fee will be charged. The Young People's league of Phoenix will present the play entled "Every Youth." This is a moral play produced in three acts and is well worth the while of the people and the admission fee is very small considering the quality of the play presented. Depositors Meet The depositors of the Peoria Exchange bank met Tuesday evening at the woman's club house and the hall was filled to capacity. There was some discussion on ways and means and finally a committee consisting of A. E. Haage, O. W. Jennings and Julius Caplan were appointed to keep the depositors informed concerning the status of affairs of the bank. This same committee was commissioned to work in unison to secure a local man appointed receiver for the bank in case a receivership was needed. Baby Burned The infant son of Mr. and Mrs. Andy Cox. who died Wednesday was buried this afternoon in the Glendale cemetery. Banquet Postponed The banquet which was to be given this evening in honor of the "Willing Worker" Sunday school class of the Presbyterian church has been postponed on account of the funds with which the banquet was to be given were in the Exchange bank when it closed, Personals The 16-year-old son of Mr. and Mrs. H. C. Allred who had been critically ill with pneumonia is reported to be about the same. R. P. Davie formerly of Marinette was a guest of Mr. and Mrs. Roy Barton over Monday and Tuesday. Harty Newman who for the past two weeks has been in Los Angeles on business returned last night. Will Deatsch who has been down with the flue for some time is able to be out and around again.
11.March 15, 1922Arizona RepublicanPhoenix, AZ
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TO NAME RECEIVER FOR PEORIA BANK Judge Frank H. Lyman will hold a meeting in his court room with those interested in the affairs of the Exchange Bank of Peoria for the purpose of appointing a receiver for that institution at 1 o'clock this afternoon. Acting upon a complaint filed by Attorney General W. J. Galbraith against officers and directors of the bank, Judge Lyman yesterday ordered the institution into involuntary liquidation and enjoined the defendants against transacting any further business for the bank. The Exchange Bank of Peoria closed its doors Feb. 27 of this year.
12.March 17, 1922Arizona RepublicanPhoenix, AZ
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of making Glendale known as a baseball town and last Sunday Allen demonstrated his ability by holding the hard-hitting White Sox to one bingle and one scratch that the score let go for a hit. Returns From El Paso. Bert Meyers, local manager for Crutchfield and Woolfolk, returned this morning after a two-weeks' absence spent over near El Paso, where he has been looking after the moving of a cantaloupe loading shed for his company. He reports that the storm is general and that at the present the mountains around El Paso are snowcapped. Appointed Receiver. Many people of the town of Glendale and the surrounding district will be glad to hear of the appointment of R. M. Lyle, a prominent business man and rancher, as receiver for the Exchange Bank of Peoria. Rate Hearing. Truck growers of the Glendale distriet who are interested in the rate case that will be called before the corporation commission tomorrow at the office of the commission. are urged to be present to present their claim. The Phoenix Railway Company asks an increase in rates for the hauling of this produce and have petitioned the commission for the increase. Information concerning the case may be obtained from the secretary of the Commercial Club. Matinee Musical Program. The program given at the Matinee Musical Wednesday afternoon by the children of Glendale under the joint direction of Miss Claire Canom and Miss Islay Rogers was one of the best that the club has so far put on this year. The musical was given at the grammar school auditorium and a large and appreciative audience was present. Miss Canom attends to the proper technique in piano work. while Miss Rogers does the voice coaching for the programs. The following is the program given: Song-Glee Club girls. Piano, "Lullabye" (Billbro)-Josephine Tinker. Voice, "Chinese Nursery Rhimes" (Bainbridge Crist): (a) "Lady Bug;" (b) "The Old Cow:" (c) "Mausie Brown;" (d) "The Old Woman"Jape Pearson. Violin, "Song Without Words." (minuet) (Greenwold)--George Walters. Piano, "Tarantelle" (Dennee)-Jane Pearson. Voice, "Algerian Folk Song"-Lena and Lucile Howell.
13.March 18, 1922Arizona RepublicanPhoenix, AZ
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PEORIA HAS SAINT PATRICK'S PARTY PEORIA, March 17.-The Peoria Civics Club gave a St. Patrick's Rook party last evening at the Woman's clubhouse and a large number of people turned out for the party, considering the inclement weather. An admission fee of 25 cents was charged. Seven tables enjoyed the evening's entertainment and the winner of each four hands advanced to the next table, no prizes being offered. Boards Meet. The Peoria school board met last evening in regular session and considered a number of items of regular business. The question of hiring teachers was the main business of the evening and all but two teachers were hired for the coming year. Snow on Mountain. The recent rains have also been ac. companied by snow and the White Tanks mountains west of town were capped with snow this morning. The snow on the mountains north of town was farther down on the mountain side than any time this winter. Bank Open. R. M. Lyle assumed his official duties today as receiver of the Exchange Bank of Peoria and those who have personal papers in the vault may secure them now. Reported Better. Mrs. J. D. Lynch, who has been se. riously ill from flu, is reported to be very much better. Mr. Lynch, who has been here during the past week, was able to return to Gila Bend. where he is in charge of the Halstead lumber yard. Return to Work. C.C. Winkle and S. B. Thomas, who have been ill for the past week, are able to return to their work.
14.March 29, 1922Arizona RepublicanPhoenix, AZ
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year in the Peoria district, the Salt River valley irrigation ditch crew was in the Peoria district cleaning the ditches during the week. Building House C. O. Stevens of the Peoria Lumber company is constructing a new bungalow in the west part of town. Visits Wickenburg R. M. Lyle, receiver for the Exchange bank of Peoria, was a visitor in Wickenburg yesterday, attending to business matters of the bank. Leaves for California Monroe Burton left this morning for California, where he expects to locate.
15.May 30, 1922Arizona RepublicanPhoenix, AZ
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BANK DEPOSITORS COMMITTEE MEETS; NO REPORT YET MADE PEORIA, May 29-A committee representing the depositors of the deunct Exchange Bank of Peoria. accompanied by C. C. Brooks, clerk for the receiver, R. M. Lyle, made a business trip to Phoenix attending to matters relative to the bank. As yet no definite report has been received of the work accomplished. Business Houses to Close All business houses in Peoria will remain closed today in honor of Memorial day. Club Meeing Held Later The meeting of the Peoria Woman's club, which was to have been heid today has been postponed until June 5. This meeting will be the last that will be held until the second week in September, All members should make a concerted effort to be present. Going on Vacations No wthat the weather is beginaing to hit hot in big league style, the citizens of Peoria are planning of vacations and it is rumored that this week will see several families journey to the coast and to the mountains. To Conduct Series of Revivals Rev. W. A. Burcher of Pennsville, Ohio, a nationally known evangelist of the church of Christ, arrived this week to conduct a series of evan gelistic gospel meetings. the first one being given last evening. These meetings will be held in the grammar school auditorium and everyone is cordially invited. Rev. Mr. Burcher has been an evangelistic worker for the past 22 years and during that time has conducted meetings in 16 different states. He is here with two assistants. the local choir and local music aiding in the work. He will remain in Peoria for an indefinite
16.June 28, 1922Arizona RepublicanPhoenix, AZ
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EMBEZZLEMENT IS CHARGED AGAINST FORMER BANK HEAD C. F. Dalton, President Of Exchange Bank of Peoria, Closed Last February, Accused Of Appropriating $2,121. Charles F. Dalton, president of the Exchange Bank of Peoria until that institution closed its doors February 27, last, was arraigned before Judge R. C. Stanford in the superior court yesterday on a charge of embezzlement preferred by the special county grand jury in an indictment alleging that Dalton appropriated $2,121.33 of the bank's funds two days be.ore its failure. As in the case of other defendants against whom warrants have been returned by the present grand jury Dalton was not placed under arrest until he had voluntarily presented himself at the sheriff's office. He waived reading of the indictment and furnished $5,000 bail. Judge Stanford set Friday at 1:30 o'clock as the time for hearing Dalton's plea. No New Indictments C. F. Gerard, assistant county.atcontinued to direct the investorney, tigations of the grand jury yesterday but no new indictments were returned. As witnesses from Peoria continued to appear for examination yesterday there is the presumption that the jury is extending its investigations into the affairs of the defunct Exchange Bank of Peoria. Through legal proceedings instituted by Attorney General W. J. Gal braith a receiver was appointed for the Peoria bank soon after it closed its doors. Prior to the closing last February the bank had closed and reopened again in the spring of 1921.
17.April 21, 1923Arizona State MinerWickenburg, AZ
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# Sheriff's Notice of Sale on Execution and Order of Sale No. 17444.
In the Superior Court of Maricopa County, State of Arizona:
Alex Silva, Plaintiff, vs. Leroy A. Bechtol and Rebecca Bechtol, his wife, and The Exchange Bank of Peoria, a corporation, R. M. Lyle, Receiver, Defendants. No. 17444
Under and by virtue of an Execution and Order of Sale issued out of the Superior Court of Maricopa County, State of Arizona, and to me as Sheriff, duly directed and delivered in an action wherein Alex Silva was Plaintiff and Leroy A. Bechtol and Rebecca Bechtol, his wife, and the Exchange Bank of Peoria, a corporation, R. M. Lyle, Receiver, were Defendants.
Whereas, on the 4th day of April, 1923, Alex Silva recovered a judgment in the Superior Court of Maricopa County, State of Arizona, against Leroy A. Bechtol and Rebecca Bechtol his wife for the sum of Two Thousand Four Hundred Forty-one and 50/100 ($2441.50) Dollars with interest thereon at the rate of eight (8) per cent per annum from said date until paid, and plaintiff's costs taxed and allowed at Twenty-one and 10/100 ($21.10) Dollars and all accruing costs, including cost of sale, together with a foreclosure of plaintiff's mortgage lien as against each and all of said defendants upon the following described premises, to-wit.
Lot Numbered Ten (10) in Block Thirty-two (32) in the town of Peoria, Arizona, a sub-division of part of Sections Twenty-six (26) and Twenty-seven (27) in Township Three (3) North of Range One (1) East of the Salt River Base and Meridian in Maricopa County, Arizona, together with all water rights and
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.
