Bank of Maxton - Maxton, NC

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 1, 1924*
Location: Maxton, North Carolina (34.735, -79.349)

Metadata

Model: gpt-5-mini
Short Digest: 184a9e1f

Response Measures

None

Description

Article (Robesonian, 1925-12-21) states the Bank of Maxton 'failed last year' and that 'receivers for the Bank of Maxton' exist. No mention of a depositor run; the bank was closed and placed in receivership. OCR in headline shows typos (Manton, AGANIST) — corrected here.

Events (1)

1. January 1, 1924* Receivership

Newspaper Excerpt: receivers for the Bank of Maxton, which failed last year.
Source: newspapers

Newspaper Articles (1)

1. December 21, 1925 The Robesonian Lumberton, NC

Article from The Robesonian, December 21, 1925

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Article Text

W. R. McNEILL GETS JUDGMENT AGANIST A MANTON BANK Robeson County Persons Principals in Case in Scotland County Court. Laurinburg, Dec. 21.-A case on the civil docket of Superior court at Laurinburg in which Robeson county parties were principals, was of special interest. W: R. McNeill was the plaintiff in a suit against the People's Bank of Maxton, receivers for the Bank of Maxton, which failed last year. It appears that the Bank of Maxton had borrowed from Mr. McNeill $10,000 in Liberty bonds, and had given him as security mortgage on some real estate in the town of Maxton together with some other credits. The Bank of Maxton in turn took the $10,000 in government bonds and used them as collateral to SC. cure a loan of $9,000 at another bank. In course of time the Bank of Maxton was closed. Attorneys for Mr. McNeill are said to have advised him to pay the loan of $9,000 which the Bank of Maxton was owing and redeem his $10,000 in Libcrty bonds. He did this and paid the $9,000 plus $180 interest. and got back his $10.000 Liberty bonds. But still he was out the $9,180. and he brought suit against the People's Bank 03 Maxton, receivers for the Bank of Maxton. to recover. The court awarded him judgment in that sum. He still holds the mortgage on the Maxton real estate and has recovered his Liberty bonds. but is out $9,180 for which the court gave him a judgment.