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The Prescott Daily News
Prescott, Nevada County, Arkansas
What is this article about?
National Bank Examiner Smith is investigating the State National Bank in Little Rock, which closed on June 23 after being suspected of instability. The city has over $20,000 deposited there, protected by bond, and it is believed the bank will fully repay depositors.
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WILL PAY ITS DEPOSITORS
National Bank Examiner Smith Investigating Affairs of Bank. Little Rock has Over $20,000 Funds Deposited There.
Little Rock, June 23.-National Bank Examiner Smith designated for that duty by the Comptroller of the Currency, is investigating affairs of the State National Bank, which closed its doors last Saturday. No statement of the condition of its affairs has been made public since the last report in March, and it is known that there has been a considerable change since that in its affairs, particularly in the amount of its deposits. The closing of this bank has caused no excitement whatever, as many of the banks had been expecting it, and it has occasioned no particular surprise among the people, who had suspected for some time that it was "shaky."
Many interests have money tied up in the bank, among them the city of Little Rock, which has a balance of over $20,000 in its vaults. The bank was the depository of the city treasurer, Claude Ringo, but the city is amply protected by bond. It is generally believed that the bank will, in time, pay dollar for dollar all its depositors.
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Domestic News Details
Primary Location
Little Rock
Event Date
June 23
Key Persons
Outcome
bank closed last saturday; no excitement or surprise; city of little rock has over $20,000 deposited, protected by bond; generally believed to pay dollar for dollar all depositors.
Event Details
National Bank Examiner Smith is investigating the affairs of the State National Bank, which closed its doors last Saturday. No public statement since March report; considerable change in affairs, especially deposits. Many interests, including the city, have money tied up; bank was depository for city treasurer Claude Ringo.