Holbrook State Bank Failure Shocks Arizona
A landmark bank collapse strikes Holbrook as the Holbrook State Bank closes for liquidation after a run of deposits. President Raynolds admits the bank was solvent days earlier, while accusations point to Joshua Raynolds of Albuquerque guiding losses through to receivership. Bank examiner Munch arrives to audit assets amid calls for a receiver and local bankers pledge aid to depleted depositors.
MENTIONED IN THIS ARTICLE
Arizona
Southwest
Holbrook State Bank
Holbrook
Raynolds
First National Bank of
Albuquerque
Joshua Raynolds
Phoenix
Winslow
Holbrook State
Holbrook Bank
Joshua
Captains of Finance
Josh
Sapp
L. E. Carron
L. B. Cadwell
J. M. Patterson
Chas. Cooley
Crosby
Superior Court
Apache Railway
L. B. Putney Mercantile Co
Navajo County
Cir
Thomas
Merchants’ and
Munch
Gossipy town notes mix with Holbrook events
Local gossip cites President Raynolds declining to comment on a defunct bank and readers recall investors lacking faith. Holbrook merchants tout Christmas gifts at Wetzler Supply Co and The Tog gery Shop with sales and ads for silk shirts and suits. County officials award medical supplies contract to Dr. Samson and Holbrook News. state attorneys meet with the new attorney general.
MENTIONED IN THIS ARTICLE
Board of Supervisors
Dr. Samson
Winslow
The
Holbrook News
Greer
Phoenix
Arizona Governor Sees Upward Economic Trend
Governor Thomas J Campbell returning from Washington said top financiers expect the worst to pass and conditions to improve. He urged thrift and warned against rent profiteering in Phoenix and Tucson. He cited national housing talk, unemployment concerns, and a Chicago backed hundred million dollar fund to boost foreign buying and copper demand. He advocated limited legislation in Arizona if voluntary remedies work.
MENTIONED IN THIS ARTICLE
Arizona
Thomas J= Campbell
Washington
Gov
Sproule
Campbell
Phoenix
Tucson
East
Smith
New York
Harrisburg
Rio Grande
New Mexico
Chicago
Congress
Harding
Pacific Coast
Ralph Cameron
Give the Young Men a Chance Recruit Visit
Sergt E B Davis and Cpl S A Sinthicum of the Los Angeles recruiting station will be in the city December 16 to 20 offering short term enlistment in the U S Army. One year options in the 19th Infantry at Camp Sherman Ohio 82nd Field Artillery at Fort Bliss Texas or 32nd Infantry at Presidio California. Three year enlistment allows assignment to any post. Benefits include uniforms medical dental care laundry and tailor services with pay ranging from 80 to 103 85 dollars. Enlistments neared quota in November and the window closes soon.
MENTIONED IN THIS ARTICLE
Sergt
E. B. Davis
Cpl. S. A. Sinthicum
Los Angeles
U. S. Army
19Th Inf
Camp Sherman
Ohio
82Nd Field Artillery
Fort Bliss
Texas
Presidio
Calif
Senate Extends Mine Assessment Period Six Months
A telegram from United States Senator Phipps reports the senate approved extending the mine assessment work period by six months for lode and placer mining claims and shale oil locations. The message says favorable action is anticipated in the House of Representatives.
MENTIONED IN THIS ARTICLE
United States
Phipps
Senate
House of Representatives
Holbrook Drug Company Announcement
Holbrook Drug Company offers continued cordial service and satisfactory prices for Christmas needs. All outstanding checks on the Holbrook State Bank endorsed or issued by us will be paid at face value.
MENTIONED IN THIS ARTICLE
Holbrook State Bank
Holbrook Drug CO
Raynolds Arrest Sparks Talk of Wider System
L. M. Raynolds was arrested on a criminal complaint charging feloniously opening a bank and receiving deposits after knowing the bank insolvent. He will face a preliminary hearing before Justice Easley Saturday at 10 oclock as authorities probe the alleged Raynolds System.
MENTIONED IN THIS ARTICLE
L. M. Raynolds
Easley
Raynolds
Bank Failure Won’t Hit Holbrook Oil Field Progress
The Raynolds bank collapse will not hinder Holbrook oil development. WELLS AT Zuni Holbrook and Adamana report continued drilling success and capital remains ample. The only unsupported business is the Raynolds System bank.
MENTIONED IN THIS ARTICLE
Raynolds Bank
Holbrook
Zuni
Adamana
Raynolds
Holbrook Oil Field Delays Hamper Early Sand Target
Timbera and a new engine arrived for the Holbrook Oil Company and were moved to the well. Drilling continues with precautionary material and a hoped update after year’s start. Major Caldwallader and Field Agent Dolman just completed a northern Arizona tour aiding ex service men with vocational training and hospital costs guidance.
MENTIONED IN THIS ARTICLE
Timbera
Holbrook Oil Company
Caldwallader
Flagstaff
Winslow
Holbrook
Cadwallader
Field
Carroll G. Colman
Heard Building
Phoenix, Ariz
Phoenix
The
Federal Board For Vocational Education
Copper Miners Cut Wages and End War Bonus
Wages cut by Calumet and Arizona Mining and Copper Queen unit of Phelps Dodge affect about 4000 workers effective January 1. A one dollar daily cut for those at or above 5.85 and eighty cents per shift for those under 5.35, with a 20 percent pay cut for non daily/shifted payers. War era service bonus ends. Also notes Near East Relief appeal for orphans in Armenia and Syria amid winter hardship.
MENTIONED IN THIS ARTICLE
Calumet and Arizona Mining Company
Copper Queen
Phelps-Dodge Corporation
United States
Warren
Calumet
Arizona
Near East Relief
Armenia
Syria
League of Nations
Armenian Republic
Also Mentioned on This Page
C.H. Jordan
Wetzler’s
Anson Smith
Mohave County
Kingman
Jesse
Hulet
Wetzler Supply Co
Wetzier's
Creswell
John A. Freemen
Supreme Court
Federal Court
Bisbee
White Mountains
Goldwyn Moving Picture Company
Holbrook Drug Company
Holbrook Oil Field
adaMaNaé
Jordan
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