I worked in Potter's drug store from 1950-1954. I am unaware of any basement storage under that building. This looks more like the "Banner" building than the drug store. This could have been the store just North of the Banner building which was a "dry goods" store as I recall. I don't remember who owned it at that time. Fifty plus years does tend to dim the memory a bit.

You can make out the Clay County Bank building on the corner. You can see the building that would become the Piggott State Bank across the street. It is interesting to see that the buildings and their facades have survived so well through the years. Note the crane...was there a basement storage area?