American Bank & Trust Company (Clovis, NM)

Episode Information

Episode UID
95003171362
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
9500317 routing
Routing Number
95-0031
Start Date
June 18, 1913
Location
Clovis, New Mexico (34.405, -103.205)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d4dff500a71e8ee9

Response Measures

None

Events (3)
1. June 18, 1913 Suspension
Cause
Government Action
Cause Details
Closed by the state bank examiner after investigation found insufficient good assets and low cash to meet deposits.
Newspaper Excerpt
Clovis, N. M., June 18.-The American Bank and Trust Co., a state institution, failed to open its doors for the day's business at 9 o'clock yesterday morning. On the door was posted a notice to the effect that the bank was in the hands of Howell Earnest, traveling auditor and bank examiner.
Source
newspapers
2. July 10, 1913 Receivership
Newspaper Excerpt
Union Mortgage Company as Receiver of the American Bank and Trust Co., which was recently closed by the State Bank Examiner. Mr. Dennis will remove the bank records to the office of the Union Mortgage Co.... The appointment of Mr. Dennis ... meets with the general satisfaction of the depositors.
Source
newspapers
3. December 18, 1914 Other
Newspaper Excerpt
AMERICAN BANK PROPERTY SOLD AT RECEIVER'S SALE Depositors of Institution Will Get Their Pro Fata Share of Proceeds of Sale Soon. ... the sale brought over $4,000.00, which he will distribute to the creditors of the defunct American Bank & Trust Company as soon as possible.
Source
newspapers

Newspaper Articles (16)
1. June 18, 1913 Santa Fe New Mexican Santa Fe., Santa Fe, NM
Article from Santa Fe New Mexican, June 18, 1913

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CLOUIS BANK IS CLOSED BY BANK EXAMINER Clovis, N. M., June 18.-The American Bank and Trust Co., a state institution, failed to open its doors for the day's business at 9 o'clock yesterday morning. On the door was posted a notice to the effect that the bank was in the hands of Howell Earnest, traveling auditor and bank examiner. Traveling Auditor Earnest had been here since Sunday, investigating the bank's affairs, and it was thought until last night that the institution's affairs could be straightened out and the bank be permitted to continue business. However, a thorough investigation of the books of the institution revealed the fact. according to statements today of local bankers, that there was but $10,000 worth of good paper out of $40,000, and $6,000 cash on hand to meet deposits aggregating something over $30,000. It is reported that numerous local business firms and depositors heard the bank was in difficulties as early as last week and these withdrew their deposits, although there was not a perceptible run on the bank. L. C. West, a prominent banker of t Oklahoma, and brother of the attorT ney general of that state, is president of the institution, and in a statement issued today he promises that in time e e all of the depositors will be paid.

2. June 19, 1913 The Clovis News Clovis, NM
Article from The Clovis News, June 19, 1913

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the prominent financial standing of all these men, it is therefore, no wonder that the people were taken by surprise when informed of the financial condition of the institution and the subsequent closing of its doors. At a conference of the officers of the First National Bank and the Clovis National Bank and those of the defunct institution held Monday night, an effort was'made to have the banks above named take over the affairs of the American Bank and prevent its closing. To this end, the two banks above named offered to give $5000.00 cash apiece and furthermore, the president of the closed institution, Mr. L. C. West, offered to give $15,000.00 which offer was supplemented by one of $2,000.00 by W.A. Foyil, but it appears that all of this was rejected by the Bank Examiner as unsatisfactory. The latest statement to be given by those who are familiar with the banks condition is that although the stockholders may never realize a cent on their investment. that the depositors will be paid practically all in time. In the mean-time they will await the action taken by the Receiver.

3. July 10, 1913 The Clovis News Clovis, NM
Article from The Clovis News, July 10, 1913

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Union Mortgage Company as Receiver of the American Bank and Trust Co., which was recently closed by the State Bank Examiner. Mr. Dennis will remove the bank records to the office of the Union Mortgage Co., opposite the News office on Grand Ave., where he has more còmmodious quarters. The appointment of Mr. Dennis, who is one of our most conservative business men, meets with the general satisfaction of the depositors.

4. July 24, 1913 The Clovis News Clovis, NM
Article from The Clovis News, July 24, 1913

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Notice. Notice is hereby given that I, the undersigned, have been duly appointed' Receiver for American Bank & Trust Company, by the District Court of Curry county, New Mexico. That I have full charge and control of the property and assets of said bank and have full power and authority to collect all debts due said bank and to pay out and distribute to the creditors of said bank any and all moneys coming into my hands as such Receiver. Notice is further given that all claims against said bank must be proven by the sworn affidavit of the creditor. his agent or attorney and filed with me on or before the 15th day of September, 1913. CHAS. E DENNIS, Receiver for American Bank and

5. July 31, 1913 The Clovis News Clovis, NM
Article from The Clovis News, July 31, 1913

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Notice. Notice is hereby given that I, the undersigned, have been duly appointed Receiver for American Bank & Trust Company, by the District Court of Curry county, New Mexico. That I have full charge and control of the property and assets of said bank and have full power and authority to collect all debts due said bank and to pay out and distribute to the creditors of said bank any and all moneys coming into my hands as such Receiver. Notice is further given that all claims against said bank must be proven by the sworn affidavit of the creditor, his agent or attorney and filed with me on or before the 15th day of September, 1913. CHAS. E. DENNIS, Receiver for American Bankand Trust Company. J17-A7.

6. September 4, 1913 The Clovis News Clovis, NM
Article from The Clovis News, September 4, 1913

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Notice of Suit. In the District Court of Curry county, New Mexico. To J. W. Stilwell, Mary A. Stilwell, Alice Stilwell and L. Ashby: You will hereby take notice that a suit has been filed and is now pending in the District Court of Curry county, New Mexico, in which Chas. E. Dennis as Receiver for American Bank & Trust Co., is plaintiff, and you the persons to whom this notice is addressed are the defendants, and that said suit is numbered 661 on the civil docket of said court, You will further take notice

7. October 21, 1913 Albuquerque Morning Journal Albuquerque, NM
Article from Albuquerque Morning Journal, October 21, 1913

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CLOVIS DEPOSITORS TO RECEIVE DIVIDEND FROM FAILED BANK (SPECIAL DISPATCH TO MORNING JOURNAL) Santa Fe, N. M., Oct. 20.-Acting under instructions of the district court, Receiver C. E. Daniels, for the defunct American Bank & Trust Co. of Clovis, will make a payment of 15 per cent to the depositors and the office is busy making out a check to each and every individual in compliance with that order. It is now thought another payment will be made before a great while. A complete statement by the receiver of the business transactions up to date has been made out and filed with Judge Richardson, of the Fifth judicial district.

8. October 24, 1913 The Kenna Record Kenna, NM
Article from The Kenna Record, October 24, 1913

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NEW MEXICO IN BRIEF Western Newspaper Union News Service. Dates for Coming Events. Nov. 23-26.-Meeting New Mexico Educational Association at Albuquerque. Howard Mielenz of Dexter has been appointed a notary public by Governor McDonald. The Federation of Women's clubs held a pleasant and profitable meeting at Santa Fé. It will require fifty stock cars to ship the 15,000 sheep acquired by E. C. Chambers, a buyer at Gallup. Albert Kauzlowski, a miner, employed at the Heaton mine, near Gallup, was killed by a powder blast. Governor McDonald has disposed of a large number of cattle, owing, it is said, to short feed on his Carrizozo ranch. Judge Pope of Santa Fé, sentenced Nez, a Navajo Indian, to four months in jail for opening a mail sack and taking out a letter. The Rev. George Splinters, rector and dean of the parish of Bernalillo, and well known in Santa Fé, died after an illness of eleven days. The Savings bank of Taiban was closed by the state banking department, and L. B. Waters placed in charge pending further developments. Judge Pope, at Santa Fé, sentenced several prisoners who had been convicted in U. S. District Court, among them being some for selling liquor to Indians. Attorney General F. W. Clancy went to El Paso to be present during the taking of testimony in the boundary suit between the state of Texas and the state of New Mexico. Clovis was so eager for silos, that the Chamber of Commerce offered a premium of $25 for each one constructed in that section; twenty have resulted from the crusade to date. James Lynch of Roswell, on trial at Clovis a second time for the murder of City Marshal Roy Woofter at Roswell two years ago, entered a plea of guilty to murder in the second degree. Ira Brown, colored, who in November, 1909, was sentenced from Luna county to the state reform school for from five to six years, has been pardoned conditionally by Governor McDonald. Paroles were signed by Governor McDonald in the cases of W. P. Kookeen and Frank Rice, both of Chaves county, who had served their minimum sentence. Both men have work offered them. The Hope Community Irrigation Company filed a dissolution notice with the State Corporation Commission. This company organized about two years ago it is said, but never commenced business. "Sweet Potato" Charley of near Hagerman claims he can raise on portions of his farm 59,820 pounds of sweet potatoes per acre, which, at two cents per pound, should increase his bank account $1,196.40. The body of Ben Reddinger, who disappeared from camp in the Manzano mountains foothills near Albuquerque, was found by a searching party. It is believed that his death was. caused by heart failure. Two convicts at the state penitentiary made their escape by sawing their way out through the roof of the ice house. Del Rexford, one of the prisoners, was overtaken and taken back to prison within a few hours. Governor McDonald signed a requisition to the governor of Oklahoma, asking for the return to New Mexico of L. C. West, president of the American Bank and Trust Company of Clovis, which was closed several months ago. A sale of 16,076 acres of state lands in Luna county will be held Dec. 8. Chadwick and Deyo, contractors for the grading on the new branch line of railroad running from near Whitewater to the Burro Mountains, have practically finished the job and tracklaying has been in progress for several days. Ninety-five cars of cantaloupes were shipped from Roswell and South Springs this season off of 450 acres; 600 were planted. Portales has shipped this season forty-four cars; Artesia and Lakewood, 3; Fort Sumner, thirty-six cars. Agua Nergra grant, in Guadalupe county, recently changed hands at a price said to be in the neighborhood

9. November 13, 1913 The Clovis News Clovis, NM
Article from The Clovis News, November 13, 1913

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Notice of Suit. IN THE DISTRICT COURT OF CURRY COUNTY, NEW MEXICO. Chas. E. Dennis, Receiver for American Bank & Trust Co., Plaintiff, vs. J. H. Ritter, Defendant.

10. December 18, 1913 The Clovis News Clovis, NM
Article from The Clovis News, December 18, 1913

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Notice of Sale of Real Estate Under Attachment. Whereas on the 6th day of December 1913, in an action pending in the District Court of Curry County, New Mexico. in which Chas. E. Dennis, as Receiver for American Bank & Trust Company was plaintiff, and John R. Anderson was defendant, said action being numbered 676 on the civil docket of said court. judgment was rendered against said defendant in the sum of $1986.56. together

11. December 25, 1913 The Clovis News Clovis, NM
Article from The Clovis News, December 25, 1913

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Notice of Sale of Real Estate Under Attachment. Whereas on the 6th day of December 1913, in an action pending in the District Court of Curry County, New Mexico. in which Chas. E. Dennis, as Receiver for American Bank & Trust Company was plaintiff, and John R. Anderson was defendant, said action being num-

12. December 18, 1914 The Clovis News Clovis, NM
Article from The Clovis News, December 18, 1914

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AMERICAN BANK PROPERTY SOLD AT RECEIVER'S SALE Depositors of Institution Will Get Their Pro Fata Share of Proceeds of Sale Soon. According to court order the New Train Schedule final step in closing the affairs of the defunct American Bank & A new time table will be issued Trust Company was taken on the first of the year and it is Saturday when Receiver C.E. now certain that it wiil include a Dennis. conducted a sale disposschedule of the new Galveston ing of the remaining property to Pacific daylight train. It is and securities. The sale of the stated on good authority that securities disclosed the fact that this new train will include two offic ers of the bank had loaned Frisco sleepers from the east themselves from $500.00 o and through sleepers from Gal$1800.00 on their personal notes veston to Los Angeles or San and had also overdrawn their Francisco. The train will be account. Mr. Dennis informs made up here and this equipthe NEWS that the results of ment maintained to its final the sale were satisfactory and destination. This will give brought over $4,000.00, which towns west of Clovis in New he will distribute to the creditors Mexico daylight train service, as soon as possible and he is ena n accomodation which they deavoring to effect this settlehave long desired. It will also ment before Christmas. give them a double daily train The following statement was service. given out by the Receiver o the press regarding the sale: Masons Elect Officers The bank building was bought Clovis Lodge A. F. and A. M. by Jere Haggard, cashier of the No. 40 held its annual election Citizens' Bank of Albuquerque. of officers for the ensuing year, The price paid was $2,950. The Tuesday night. As the date of Albuquerque bank was one of installation, Dec. 27 (St John's the heaviest losers in the Ameriday), falls on Sunday this year, can Bank & Trust Company failthe installation of officers will ure, but Mr. Haggard's good be held on Monday. Dec. 28. judgment in buying the building The following officers were undoubtedly will help his bank elected: to recover at least a portion of P. A. La Shier, Worshipful the loss. Master. W. H. Land, a Fort Sumner R. L. Pryor, Senior Warden. banker, bought the notes and W. I. Luikart, Junior Warden. judgment, Notes aggregated W. S. Carmack, Treasurer. $20,001.46, and Mr. Land paid A. J. Whiting, Secretary. $425 for the lot. Several thousBert Curless, Tyler. and dollars worth of judgments The other efficers of the lodge brought only $120. Six or seven are appointive and will be an thousand dollars worth of notes nounced later. had been charged off the books, for which there was no offer. Best Postoffice Several scattering lots in Clovis were sold, also a small equity Postoffice inspector. Mark in a farm north of town. Williams made an examination A surprising feature of the of the Clovis postoffice in his defunct bank is the fact that rounds recently and complimentofficers, stockholders and emed postmaster, A. B. Wagner on the first class condition of the ployees of the bank owed the bank $16,347.78 when its doors office. He said that the Clovis were closed, which left an inpostoffice was in the best condebtedness of less than $4,000 dition of any he had examined by outside parties. in his district, which comprises Mayor, Cash Camey, surprised New Mexico, Arizona, a part of the natives by demonstrating Colorado and a part of Texas. that he is a first class auctioneer. He also spoke highly of the

13. December 25, 1914 The Clovis News Clovis, NM
Article from The Clovis News, December 25, 1914

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Depositors Being Paid. The final payment of the creditors of the failed American Bank and Trust Company is being arranged this week by the receiver, C.E. Dennis. District Judge, G. A. Richardson, of Roswell, passed through the city last Friday and signed the order for final settlement from the proceeds of the sale of bank property and securities held on December 12th. The pro rata payment will be small.

14. January 4, 1915 The Evening Herald Albuquerque, NM
Article from The Evening Herald, January 4, 1915

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DEFUNCT BANK PAYS 11 PERCENT DIVIDEND Clovis, N, M., Jan. 4.-Those who were left Cholding the sack" at the demise of the American Bank and Trust company received another divIdend check shortly before Christmas, the amount being 11 per cent on their claims. This brings the total paid to 36 per cent and a further dividend of one per cent is expected soon. Receiver Charles E. Dennis states that this will complete the payments the bank can make.

15. March 12, 1915 The Evening Herald Albuquerque, NM
Article from The Evening Herald, March 12, 1915

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what was done at said meeting is vague and indefinite but your committee finds that although the governor of New Mexico and the traveling auditor at the time they so met with the officials of said bank knew that T. R. H. Smith the president of said bank was undesirable in every way in connection with banking matters and had no financial resources, had deliberately deceived the traveling auditor's office and that the bank at that time was insolvent, the capital stock being impaired at least to the extent of 150 per cent, yet not a thing was done from that time on by either the governor or the traveling auditor to require the affairs of said bank to be placed in a better condition. That although during all that time the governor and the traveling auditor knew that the funds of the state college were deposited in said bank no steps were taken by either the governor or the traveling auditor to protect said funds in any way. That neither the governor nor the traveling auditor notified either directly or indirectly any member of the board of regents of said schools, that said bank was in a precarious condition, so that the funds of said school could be protected. That the traveling auditor has attempted to justify his action on the theory that he had notified the board of regents of such condition it would have caused a run on said bank and the institution would have been closed. However, in connection therewith we wish to state that prior to the closing of the American Bank and Trust company, of Clovis, N. M., a telegram was sent from the traveling auditor's office to the treasurer of Curry county,

16. March 13, 1915 Albuquerque Morning Journal Albuquerque, NM
Article from Albuquerque Morning Journal, March 13, 1915

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Dereliction Charged. That although during all that time the governor and the traveling auditor knew that the funds of the state college were deposited in said bank no steps were taken by either the governor or the traveling auditor to protect said funds in any way. That neither the governor nor the traveling auditor notified either directly or indirectly any member of the board of regents of said school, that said bank was in a precarious condition, so that the funds of said school could be protected. That the traveling auditor has attempted to justify his action on the theory that had he notified the board of regents of such condition it would have caused a run on said bank and the institution would have been closed. However, in connection therewith, we wish to state that prior to the closing of the American Bank and Trust company, of Clovis, N. M., a telegram was sent from the traveling auditor's office to the treasurer of Curry county, directing him to withdraw the county funds from that bank. It may be suggested, however, that according to the testimony of the traveling auditor, said telegram was sent without his knowledge or direction, but was sent by a subordinate in his office, one W. L. Kegel. In connection with that matter it is very suggestive that although the traveling auditor knew of the falling condition of the American Bank and Trust company, of Clovis, no steps were ever taken by him to assist the treasurer of the county in protecting the county and state funds: that being done by said W. L. Kegel on his own initiative. Governor's Advice to Cox, We further find that in October, 1913, after the examination of the