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Reproduced from the Unclassified I Declassified Holdings of the National Archives

DECLASSIFIED
Authority ( M / h

/
,

FED ER A L R E SE R V E BANK
OF D ALLAS

if
J

h4iCava?
' 1
i

1-4

March 10, 1933
’
Sr




■* <-•-

Federal Reserve Board
Washington, D* C*
Attention: Mr* E. L* Snead, Chief
Division of Bank Opera­
tions
Gentlemen:
Please refer to our lett eg^,q £»,Sebruaj^R
7 regarding your letter of Ja^iiary 19, B-869a* I
am enclosing a list of banks from which we obtain­
ed additional information regarding restrictions
on withdrawals of deposits for 1932 and January,
1933* I am also aiclosing a report ft>r Februaiy,
1933#
Yours very truly,

Assisiamc Feaeral Reserve Agent

■

Reproduced from the Unclassified I Declassified Holdings of the National Archives

____
d e c l a s s if ie d ""^ '

Authority

TELEGRAM
t

— rD'

FEDERAL RESERVE SYSTEM
(LEASED W IR E SERVICE)

23gb 20
Dallas Feb 28 911am

FEB 2 3 1S33

V 1 6 , 3 (fj)

RECEIVED AT W ASHINGTON, D. C.

Boards
i
Sr-

Washn

Referring telegram FeSlruary 14

re closing human halecenter texas

am now informed that institution resumed business February 23
Walsh
1023am

Dist. No.
Ciass

..

Dale

Caniia!

Dhrst
eis
Popirs’n.
Goimty


a—ii9 0 i
V 8 f O C N K TP t T N O T C ;
. . i T R M N l m I O IIB
http://fraser.stlouisfed.org/IMS
Federal Reserve Bank of St. Louis

Reproduced from the Unclassified I Declassified Holdings of the National Archives

D ECLASSIFIED
Authority U A J\s

TELEGRAM
FEDERAL RESERVE SYSTEM
/7 '

(LEASED W IRE SERVICE)

375gy 50

RECEIVED AT W ASHINGTON, D. C.

Dallas Feb 14 444pm

Board
Washington

1st* Nat. Bank

y
+

Referring your B«*869*A January 19 Am informed that human Hale-Center
Texas head office territory closed on February 9 under special holiday
declared by Civil Authorities have no information as to probable date
bank will resume operations but will keep you informed of developments.




Walsh

704pm

Reproduced from the Unclassified I Declassified Holdings of the National Archives

DECLASSIFIED *
Authority U A Jh

]d

\

F. R. Board

Form St. 6386c
Nov. 1929

CffiGMTIZATIQIS, UQIIIMTIONS, CONTERSIOlTS,
M D OTHER
OF MEMBER A1TD NOFiffiMBER B A M S

(Except bank suspensions, consolidations, mergers or absorptions;
affiliations with banking chains or groups; and establishment or
discontinuance of branches)
Effective date of change Jan, 5 t 1935___ Federal Reserve District
Character of chango

Eleventh

Resumption following suspension_____

Nome fmflfelocation of
American National Bank
Member or
bank before change ___ McLean, Texas___________________ nonmembor ^ ^ > e r
Uame and location of
bank after change

.isferiean National Bank
McLean, Texas_______ ___________

Capi tal $ 25,000______

Surplus.
and pro'fits $ 139,000________

Condition figures are as of

January 5, 1955

Member or
nonmembor A j m
V e ber

Loans and
investments $ 10*7,000
__________ _

Is the above change in status final or merely preliminary to a further change,
■ and if preliminary , what further change is contemplated?
Final__________

In the case of conversions and successions, were financial difficulties
responsible to any extent for the change in status?
_____________

Remarks:
(In the case of suspended banks reopened for business, give the change in
capital account, the assessment paid by stockholders, etc,)
There was no change in capital structure* No assessment was made on stock­
holders but there were some voluntary payments* Written agreement with
depositors restricting withdrawals*




Reproduced from the Unclassified / Declassified Holdings of the National Archives

_____ _____________

DECLASSIFliEb~*
■

'

Authority

tflOi&Ol)
F. R. Board
Form St. S3S6b
November 1929
Date of suspension

BANKSUSPENSIONS
5, 1953

Federal Heserve District Eleventh

Name an^. location
_
:Iembey or
of barilfeAmerican National Bank, McLean, Texas______nnn.mem'her
Loans and
Capital $ 25,000______ _
investments $139,000 Gross deposits $

107,000

Borrowings from federal Heserve Bank $29,730*

None______

Condition figure's are as of

From other "banks

$

M«mher

January 5, 1933

Closing directed by ________ Board of D i r e c t o r s _________________
Causes- of suspension: Check in the appropriate column those of the following
which apply, either as primary or contributing causes, amplifying the
indicated causes with such supplementary data as may be available.

Pr imary
cause
1. Slow, doubtful or worthless paper

Contributing
cause

X

2, Failure of banking correspondent

(Name of failed correspondent)
3. Failure of other large debtor
(Name of failed debtor and connection
with bank, if any)
Defalcation
5. Heavy withdrawals
6. Other causes (specify)

HSMABKS;
*At tin© of closing




y

Reproduced from the Unclassified I Declassified Holdings of the National Archives

I

DECLASSIFIED •

I Authority U A f t \ ? A C i a i_

FEDERAL RESERVE BANK
OF DALLAS
February 7, 1933

C. C. W A L S H
C H A IR M A N O F T H E B O A R D
AND FE D E R A L R E SE R V E A G E N T

i f

Federal Reserve Board
Washington, D. C*

•0

attention Mr. 1. L. Smead, Chief,
Division of Bank/Operations
Gentlemen!
Referring to your letter of JanuaryT9, 1933, B-869a, and
supplementing my letter of January 23, 1933, I am enclosing two lists
showing the names and locations of the banks in this district which,
according to the information that we have been able to obtain, imposed
restrictions upon withdrawals of deposits during the year 1932, and
during the month of January, 1933, respectively.
Due to the fact that no systematic record of these restric­
tions has heretofore been kept, either by ourselves or the chief national
bank examiner, our records in most cases do not show the exact periods
during which these restrictions were operative, and some cases do not
show whether the banks obtained waiver agreements from their depositors.
We are endeavoring to obtain these additional details by
correspondence with the banks themselves, and if successful in these
efforts, will forward the information to you promptly upon receipt.




Yours very truly,

Federal Reserve Agent

Reproduced from the Unclassified I Declassified Holdings of the National Archives

I
DECLASSIFIED * '
I Authority

FEDERAL RESERVE DISTRICT

Eleventh

BANKS ’
7HICH DURING JADTUAHT, 1933, ?/ITSOUT ACTUALLY CIOSBFG, OBTAINED DI
POSIT CBS’ 7AI\TER AGRE3HHS1TS, OR TTHECH RESTRTCTED DEPOSIT ^ZTHDRAHALS

Demand
Tiias depo si t
Obtained
deposits
withdrawals
depositors*
withdrawals restricted bewaiver
restricted
yond terras of
agreements_______ *_______ by-laws*_____
Effective
Period during which
date
Effective

American National Bank
McLean, Texas

1- 5-33

1- 5-33

to

The Bloomburg State Bank
Bloomburg, Texas

Not known

1-20-33

to

McAllen State Bank
McAllen, Texas

Not known

1-18-33

to

Clyde National Bank
Clyde, Texas

No

1- 3-33

to

**No date set.




12-31-33

**

Reproduced from the Unclassified I Declassified Holdings of the National Archives

DECLASSIFIED *
Authority j j A l h

TELEGRAM
FEDERAL RESERVE SYSTEM

^

(LEASED W IRE SERVICE)

^

.

,

RECEIVED A T W ASHINGTON, D. C.

204gb
Dallas Jan 27
Board
Washn

; We are advised tftSt citizens bank unincorporated venus
texas closed temporarily on twenty sixth, amjpncieavoring
obtain information as-: period of suspension
to
Walsh
204p

s. M n iifD n m « « sum
T u rr iD w ma




Reproduced from the Unclassified I Declassified Holdings of the National Archives

DECLASSIFIED *
Authority ( /A /h

FEDERAL RESERVE DISTRICT

Eleventh

SUPPLEMENT TO •LIST OF BANKS WHICH DURING- 1932 AND JANUARY, 1933, WITHOUT ACTUALLY CLOSING, OBTAINED DEPOSITORS * WAITER AGREEMENTS, OR WHICH
RESTRICTED DEPOSIT WIEHDRAWAIS

Demand
Time d eposi t
Obtained
deposits
withdrawals
depositors*
withdrawals restricted bewaiver
restricted
yond terras of
agreements________*________ by-laws*_____
Period during which
Effective
effective
date
'W

Citizens National Bank
Brownwood, Texas

*.
<
Further information not available

First State Bank
Rochester, Texas

Further information not available

First State Bank
Yernon, Texas

No

6-

4-32

to

Indeterminate

San Angelo National Bank
San Angelo, Texas

1- 4-32

1- 4-32

to

10- 1-32

First National Bank in
Stamford, Texas

2-17-32

2-17-32

to

11- 1-33

11-29-32

11-29-32

to

12- 1-33

First National Bank
Lockney, Texas
First National Bank
Harlirgen, Texas

No

5- 8-32

to

Clyde National Bank
Clyde, Texas

1- 2-32

1- 2-32

to

12-31-32

Woodson State Bank
Woodson, Texas

No

1- 8-32

to

Indeterminate

RESTRICTIONS DURING JANUARY, 1933
Clyde National Bank
Clyde, Texas

1- 3-32

1- 3-32

to

2-15-34

The Bloomburg State Bank
Bloomburg, Texas

1-12-33

1-12-33

to

1-15-34

McAllen State Bank
McAllen, Texas

NO

1-18-33

to

2-21-33

^Restrictions maintained only a short time.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

DECLASSIFIED •
Authority U A l h

0<2L

FEDERAL RESERVE DISTRICT

Eleventh

mo, 3
BANKS M I C H CORING FEBRUARY, 1933, wITHOTJT ACTUALLY CLOSING, OBTAINED
DEPOSITORS’ WAIVER AGREEMENTS, OR WHICH RESTRICTED DEPOSITS WITHDRAWALS

Obtained
depositors’
waiver
agreements
Effective
date

Demand
depos it s
wi thdrawals
restricted
*

Time deposit
withdrawals
restricted be­
yond terms of
by-laws*
Period durang which
effective

First National Bank
Hale Center, Texas

2-23-33

2-23-33

to

12-31-33

First National Bank
Meadow, Texas

2-23-33

2-23-33

to

3- 1-34




Reproduced from the Unclassified I Declassified Holdings of the National Archives

DECLASSIFIED •
Authority

(COPY)

FEDERAL BSS1R7SS BANK OF DALLAS
January 23, 1933

tf /
~~ •
~
Federal Heserve Board
Ifcshington, D. C.
Attention Mr. X. L. Sinead, Chief,
Division of Bank Operations
Gentlemen:
Reference i s made to your le tte r o f January 19, 1933* B - 869-a .
The statement of bank suspensions and reopenings during 1932 , enclosed with
your le tte r, has been checked against our records and found in agreement
therewith.
I t is noted that you desire advice as to whether ansr banks in
our d istric t closed during the calendar year 1932 under special holidays de*clared by c iv il authorities. According to our records, only three such
closings occurred in our d is t ric t, as follows:
Nam and location of bank:
e

Date bank
closed:

Date bank
resumed
operations:

Duration of holldar
Number
From To
of days:

First National Bank, Lockney,
Texas

11-29-32

12-4- 32

5

11-29-32

12-3-32

, American Nat*1, McLean, Texas

12-22-32

1-5- 33

12

12-22-32

1-2-33

Clyde National, Clyde, Texas

12-31-32

1 -3 -3 3

1

12-31-32

12-31-32

It is also noted that you desire a li s t o f a l l banks which, during

1932 * without actually closing, (1 ) obtained agreements from depositors to waive
or sir render a portion of their deposits, or, (2) with or without signed agree­
ments of depositors, restricted demand deposit withdrawals in any way or time
deposit withdrawals beyond the terms of their bylaws. H iile i t i s , as you say,
d iffic u lt to obtain c o m p l e t e data with regard to such banks, we are preparing
to furnish you as complete a l i s t as can be obtained from our records, and w ill
forward it to you as early as practicable, which should be within the ne*t few
days.
As requested, we w ill in the future wire you advice of a l l banks
reported closed under special holidays declared by c iv il authorities, including
the date of closing tend the dates of the beginning and ending of the holiday .
fNtre advices w ill also be sent you covering any reported extensions of the
periods of such holidays.
As instructed, we w ill furolifeh you with monthly reports hereafter
covering bankB itoidi obbain depositors1 waiver agreements, or whicii otherwise
place restrictions upon demand or time deposit withdrawals.
Yours Very tru ly,
(SIGNED) C. C. H a l*
Federal Reserve Agent




Reproduced from the Unclassified I Declassified Holdings of the National Archives

DECLASSIFIED
Authority O A J h ? * ( ) £ £ ,

T i u e i i

Balias Jan

6

Smead
^

Washn

7
.?
.
m
Tour wire 5 ^ your information that american natl bank me lean texas
reopened yesterday is correct.

Chief examiner collier informs me

that sufficient amount of frozen assets have been removed by cash
and large percentage of deposits restricted as will probably
insure banks continued operations.

Note your request that in

future when bank closes under holiday declared by civil authorities
my telegraphic report so state.
When wiring on

3r&

Will be governed accordingly.

it was my information that bank was permanently

closed.




Walsh

'7
•
/

Reproduced from the Unclassified I Declassified Holdings of the National Archives

DECLASSIFIED •
Authority

t~jL- "1

TELIG-Hi-M

/ -

Dallas

Jan. 3

Board
Washn

American national bank McLean Texas head office territory closed
today by order its board of directors and affairs in charge national
" bank examiner following is status with us rediscounts $29,730*37
additional collateral held $»320.32 cash letters and collections
outstanding 3* 609»01 reserve balance 632.00 capital stock paid in

900.00 suspension in culmination of badly extended condition
result of weak management and depressed agricultural conditions
mclean community




Walsh

‘x ( i l )

^

/

Reproduced from the Unclassified I Declassified Holdings of the National Archives

DECLASSIFIED Authority j M l h j c o ^ A .

F E D M A L RESERVE DISTRICT

Eleventh.

BANES WHICH HIRING- 1932, WITHOUT ACTUALLY CLOSING, OBTAINED DEPOSITORS*
WAIVER AGREEMENTS, OR M I C H RESTRICTED DEPOSIT WITHDRAWALS

DemairL
Time deposit
Obtained
deposits
withdrawals
depositors’
withdrawals
restricted bewaiver
restricted
yond terras of
agreements________*_________ by-laws*_____
Effective
Period during which
Date
Effective

Merchants National Bank
Brownsville, Texas

No

3-11-32

to

Citizens National Bank
Brownwood, Texas -

1- 4-32

1-

to

Clyde National Bank
Clyde, Texas

Yes**

Firs1>-tjoleraaii National Bank
Coleman, Texas

2- 2-32

First National Bank
Harlingen, Texas

Yes**

Not known

First National Bank
Lockney, Texas

Yes-verbal**#

Not known

First National Bank in
Monday, Texas

1-18-52

1-18-32

to

San Angelo National Bank
San Angelo, Texas

1- 4-52

1-

to

First National Bank
Stamford, Texas

Yes**

First National Bank
Jayton, Texas

Not known

5-28-32

to

Woodson State Bank
Woodson, Texas

Not known

1- 8-32

to

First State Bank
Rochester, Texas

Not known

5-14-32

to

First State Bank
Vernon, Texas

Not known

6
-

to

4—32

3-25-32

Not known

2- 2-32

to

4-32

12-31-55

12-19-52

Not known

4-32

5- 3-32

♦♦Effective date not known
# Early in year some of depositors agreed not to withdraw their balances without
30 days or more notice* When the bank reopened on December 4, 1952, it restrict­
ed withdrawals of all old depositors.



Reproduced from the Unclassified I Declassified Holdings of the National Archives

DECLASSIFIED *
Authority j /A /h

2 i

FEDERAL RESERVE B A M OF DALLAS

December

3,

1932

Federal Reserv^^Board
Washington, D. C.
Gentlemen:
The reserve balances carried with us by the First
National Bank, Lockney, Texas, have shown a continuous
average deficiency during six consecutive months, beginning
May l 6 1932.
,
In accordance with your regulations, I addressed a
letter on this subject to each member of the bank's board
of directors under date of November 7» 1932, and a enclosing
m
copies of a reply received from President Artie Baker on be­
half of his directors.
The subject bank has been in continuous difficulties
throughout the present year, due partly to economic conditions
and partly to weak management. The bank has exhausted its
credit with all existing credit agencies and, as a result of a .
continuous withdrawal of deposits, it recently declared a
moratorium on its deposit liabilities, under which it has -sus­
pended payments to its depositors until December 5.
It appears that the suspension of the:
bank is inevitable.
Under these circumstances, I see nothing that could be accomplish­
ed by disciplinary action on the part of the Comptroller's Depart­
ment or the Feder 1 Reserve Board, and I, therefore, recommend
that no action be taken in connection with this case.
Yours very truly,

C. C. Walsh,
Federal Reserve Agent.
WJEiMM




Reproduced from the Unclassified I Declassified Holdings of the National Archives
declassified

•

Authority

FEDERAL RESERVE BANK
OF DALLAS

0

^ovp^S^^B*)
o '1
^1

C .C .W A L S H
C H A IR M A N O F T H E B O A R D
AND F E D E R A L R E S E R V E A G E N T

co
fx>

ir i(c>

V-V

x
W 'X
;.r o

V?/\’

Feddfjkl Reserve Board
Washington, D. C.

' L f " 0v
Attention Mr. E. L. Smead, Chief
Division of Bank Operations

Gentlemen*
acknowledge receipt of Mr. Smead*s telegram of November 3, 1932,
as followss
"Please furnish statement showing name and location of each
bank in your district which is now or has been at any time this
year on so-called moratorium basis, stating in each cases
(1) whether brought about by holiday declaration of local
authorities or in some other specified way;
(2) whether for purpose of
a. readjusting capital structure, /
b. deferment of deposits,
J
J
c. surrender by depositors of a portion
of deposits;
(3) whether bank stopped receiving and paying deposits for
any period and, if so, dates of cessation and resumption and con­
ditions of resumption; and
(4) conditions under which your bank continued to handle
items on such banks, if it did so.
Please mail such information unless there are only few such
banks in your district as to which information can be wired.H
Referring to the above telegram requesting information respecting
banks which have been on the so-called moratorium basis this year in the Eleventh
Federal Reserve District, I em pleased to submit the following information which
we have been able to obtain with reference to such banks in the head office and
branch territories*
Head Office Territory
First National Banka Jayton, Texas
(1) Our records do not show whether a holiday was declared by local
authority or some other authority.
(2) a. Records do not show.
b. Deferment of deposits.
c. Records do not show.
(3) Limited withdrawal of deposits was permitted on and after March 30,
oi^oepos
1932.

Bank closed on May 3, 1932




Unclassified / Declassified Holdings of the National Archives
d e c l a s s if ie d

A th
u ority

•

t

Board - Washington
Page 2

(4)
Items forwarded direct to bank for remittance and such checks
as were dishonored on account of restriction of deposits were returned to our
endorsers for that reason.
Woodson State Bank, Woodson, Texas, (Nonmember)
(1) Information not available from our records.
(2) Information not available from our records*
(3) Only limited withdrawals of deposits permitted on and after
January 8, 1932. Restrictions still in force, so far as we know*
(4) Items forwarded direct to bank for remittance and such checks
as were dishonored on account of restriction of deposits were returned to our
endorsers for that reason.
San Antonio Branch Territory
Merchants National Bank, Brownsville, Texas
(1) Effective by declaration of bank's board of directors*
(2) a. For readjustment of capital structure.
b. Deferment of deposits.
c. Surrender by depositors of a portion of deposits.
(3) Only limited withdrawals of deposits permitted on and after
March 11, 1932. However, not later than March 20, 1932, bank discontinued
receiving deposits but continued paying deposits on restricted basis, -which
continued until closing on March 25, 1932.
u ) Items forwarded direct to bank for remittance.
First National Bank, Harlingen, Texas
(1) Declaration of partial moratorium by bank's board of directors.
(2) a. Readjustment of capital structure,
b. Deferment of deposits.
(3) Bank did not stop receiving deposits* Payment of deposits re­
stricted to nominal weekly withdrawals. Resumption of payments never offici­
ally declared. However, our information is that purpose of partial.moratorium
was to enable refusal only of such demands as represented unneeded withdrawals
and apparently such demands kave now ceased.
(4) Items forwarded in open mail for remittance.
Houston Territory
The Houston Branch territory did not have any banks which would come
under this classification.
El Paso Territory
The El Paso Branch territory did not have any banks which would come
under this classification*




Reproduced from the Unclassified I Declassified Holdings of the National Archives

_______

j

dec T ass “ Te d
if

*

Authority_U ^ lbja

f '

Board - Washington
Page 3

In summary, while the Board did not call for it, I am listing
the names of banks that went on a moratorium basis in our district during
the latter part of 1931, giving, as far as our records show, the dates
that these restrictions became effective. Most of the banks in this group
restgj^cted their daily withdrawals to an amount not exceeding $10. You are
familiar with the unsettled conditions which existed in September and October
of last year, and most of the banks that are named in this additional list
were affected thereby.*#
All of the items drawn on these banks were forwarded to them direct
for remittahce and were returned unpaid to our endorsers for the reason of
restrictions on deposits when.*they were returned to us for that reason by the
drawee banks. We did, however, remove the names of two banks from our par
list when the practice of limiting withdrawals of deposits first put in its
appearance in our district. These banks were the Commercial State Bank of
Ranger and the First State Bank of Comanche. The Comanche bank was later
restored to the par list, but the Ranger bank is still a non-par bank.
I also again make reference to the moratorium declared by all banks
situated in the Rio Grande Valley, which limited deposit withdrawals to a
nominal amount. Each bank was permitted to use its own discretion as to 'which
payments to depositors might be refused, the sole purpose of the moratorium
being to enable each bank to refuse such payments as appeared to represent
withdrawals for the purpose of transfer or hoarding. Up to the present time
there has been no declaration of resumption of payments. However, it is our
understanding that conditions gradually quieted and payments have been re­
sumed in many instances. This same explanation applies to many of the banks
named below, particularly in the western section of our district.
Member or
Nonmember

Name

Location

First National Bank
First National Bank
Plainview National Bank
First National Bank
Woodson State Bank
First National Bank
First State Bank
First State Bank
Clyde National Bank
First State Bank
F. &M. State Bank
First National Bank
F. 8 M. National Bank
t

Levelland, Texas
Littlefield, Texas
Plainview, Texas
Santa Anna, Texas
Woodson, Tex&s
Jayton, Texas
Rochester, Texas
Vernon, Texas
Clyde, Texas
Comanche, Texas
DeLeon, Texas
Goree, Texas
Hamlin, Texas

rf ^




^

tjJ c . -

f)

j A

.

Member
Member
Member
Member
Nonmember
Member
Member
Nonmember
Member
Nonmember
Member
Member z
?
Member

^-J4 d :1 Q

Date Noticed
Bv Us
9-23-31
9-23-31
9-14-31
10-8-31
1- 8-32
3-30-32
5-18-32
6- 4-32
10-19-31

10-10-31

>'£-31
.f

jr

t*, ..

&*
>*
£

~

Reproduced from the Unclassified I Declassified Holdings of the National Archives

DECLASSIFIED •
Authority U A Jh

Board - Washington
Page 4

Member of
Nonmember
Name

Location

Famers State Bazik
F i r M State Bank
Commercial State Bank
First State Bank
First National Bank
Rotan State Bank
First National Bank

Haskell, Texas
McCaulley, Texas
Ranger, Texas
Roby, Texas
Rotan, Texas
Rotan, Texas
Stamford, Texas

Date Noticed
By Us_______

Nonmember
Nonmember
Nonmeirber
Member
Member
Nonmember
Member

10-6 -31
12-23-31 >du^t6
.C i h j
) M n f 4-i

f

I
regret that we have been unable to secure more satisfactory dates
for the beginning and termination of the moratorium declared in the various
"banks listed. However, if you desire something more specific than I have here
with submitted, we will take the matter up with the various banks and make an
effort to secure the same.

i
| «




Yours very truly,

(

FederalReserve Agent

Reproduced from the Unclassified / Declassified Holdings of the National Archives

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