Bank of Preston (Preston, GA)

Episode Information

Episode UID
2258147391547
Episode Type
Run → Suspension → Unsure
Bank Type
state
Bank ID
225814739 hash
Start Date
November 28, 1928
Location
Preston, Georgia (32.066, -84.537)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e4e1c6fb3f292212

Response Measures

None

Description

Closures followed heavy runs after the Fourth National Bank of Macon failed; articles mention efforts to reorganize but do not confirm reopening.

Events (2)
1. November 28, 1928 Run
Cause
Local Banks
Cause Details
Heavy withdrawals triggered by the failure of the Fourth National Bank of Macon, which created a regional financial scare.
Measures
Bank suspended operations/closed after heavy withdrawals.
Newspaper Excerpt
The institutions were closed after heavy runs Tuesday due to the financial scare that followed closing of the Macon bank.
Source
newspapers
2. November 28, 1928 Suspension
Cause
Local Banks
Cause Details
Suspension/closure following runs provoked by the Macon bank failure.
Newspaper Excerpt
Eight small Georgia banks were closed today as result of the failure Monday of the Fourth National Bank of Macon ... The institutions were closed after heavy runs Tuesday due to the financial scare that followed closing of the Macon bank.
Source
newspapers

Newspaper Articles (10)
1. November 28, 1928 The Birmingham Post Birmingham, AL
Article from The Birmingham Post, November 28, 1928

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Article Text

EIGHT GEORGIA BANKS CLOSED Institution Drags Small Ones Down United MACON, Nov. 28. Eight small Georgia banks were closed today result of failure bank, Macon, with listed reof more than With the exception the Citizens' bank, of Fort Valley, capitalized at other institutions, Bank of Byronville, Irwinton bank, Bank of Preston, Citizens' Bank company, of Culloden, Bank of Bradley, Farmers' Merchants' bank, of Gordon, Farmers' bank, of at from $15,000 to were closed aftheavy runs due to the scare that followed ing of the Macon bank. All the banks are located in the Georgia peach With Clyde J. Edwards in charge of an audit, and Claude Gilbert, named of the Fourth National plans under today to adjust affairs could be cared for. Exact cause of the run was concealed, altho circles said recent investments had turned out poorly.

2. November 28, 1928 The Oregon Daily Journal Portland, OR
Article from The Oregon Daily Journal, November 28, 1928

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Article Text

Eight Banks Of Georgia Close; Concealed Macon. Ga., Nov. Hearts of Celery Georgia banks were closed today the Fourth result of the failure Monday National bank of with listed resources of more than bank With the exception of the Citizens Fort Valley, $100,000, the other institutions, capitalized the Bank Bank of Byronville, Irwinton bank, Preston, Citizens Bank pany Farmers' of Culloden, Bank of Bradley, comand Merchants' bank of and Farmers' bank of Byron

3. November 28, 1928 Pasadena Star-News Pasadena, CA
Article from Pasadena Star-News, November 28, 1928

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Article Text

EIGHT BANKS CLOSE IN GEORGIA PEACH BELT Failure of Macon Institution Is Cause of Run on Accounts MACON, Ga., Nov. small closed today as result the failure Monday of the Fourth National Bank Macon, listed resources of more than $11,000.000. With the exception of the CitiBank Fort Valley, talized at the other insti- capiBank Byronville, Irwinton Bank, Bank of Preston, Citizens Bank Company of CulloBank of Bradley, Farmers & Merchants Bank Gordon and Farmers Bank italized from $15,000 to $25,- The institutions closed were heavy Tuesday due financial followed closing the Macon bank. All banks are located in the Geopeach belt. Exact cause the run was conrealed. although financial circles recent investments had turned poorly.

4. November 28, 1928 The Pittsburgh Press Pittsburgh, PA
Article from The Pittsburgh Press, November 28, 1928

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Article Text

NINE BANKS CLOSED Eigh Shut After Collapse of One in Macon. By The United Press. Macon, Ga., Nov. 28.-Eight small Georgia banks were closed today as result of the failure Monday of the Fourth National Bank of Macon, with listed resources of more than $11,000,000. With the exception of the Citizens Bank of Fort Valley, capitalized at $100,000, the other institutions. the Bank of Byronville Irwinton Bank, Bank Preston. Citizens Bank Co. of Culloden, Bank Bradley, Farmers &, Merchants Bank of Gordon and Farmers Bank of were capitalized at from $15,000 to $25,000. The institutions were closed after heavy runs Tuesday due to the financial scare that followed closing of the Macon bank. All the banks were located in the Georgia peach belt.

5. November 28, 1928 Evening Courier Camden, NJ
Article from Evening Courier, November 28, 1928

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Article Text

GEORGIA BANK'S FAILURE MAKES 8 OTHERS CLOSE Ga., Nov. 28 Georgia closed today result of the failure Monday of the Fourth National Bank of listed resources of more than With of the Citizens $100,000, Bank of Fort Valley, capitalized other the Bank of Irwinton of Preston, Company Culloden, Bank of and of Gor don and Bank of Byron were capitalized at from $15,000 to $25,000. The closed after runs Tuesday due to the financial that closing All the banks cated in the Georgia

6. November 28, 1928 The Brooklyn Daily Times Brooklyn, NY
Article from The Brooklyn Daily Times, November 28, 1928

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Article Text

EIGHT MORE BANKS CLOSE IN GEORGIA Failures in Peach Belt Due to Collapse Yesterday of $11,000,000 Institution. Macon, Ga., Nov. small Georgia banks closed today as the failure Monday of the Fourth National Bank of Macon, with listed resources of more than $11,000,000. With the exception of the Citizens Bank Fort Valley, capitalized at the other institutions, the Bank of Byronville, Irwinton Bank, Bank Preston, Citizens Bank Company Culloden, Bank of Bradley, Farmers Merchants Bank of Gordon, Farmers Bank of Byron were capitalized at from $15,000 to The institutions were closed after heavy runs due the financial that followed closing of the bank. All he banks located in the With Clyde Edwards in charge of an audit, Gilbert, named receiver of the Fourth National here, plans under today to adjust affairs so creditors cared for Exact cause of the run concealed, although circles recent turned out poorly.

7. November 28, 1928 The Times-News Twin Falls, ID
Article from The Times-News, November 28, 1928

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Article Text

MACON, GEORGIA. BANKS COLLAPSE rescue Eight Institutions Fall When He Run Starts on Them After Breaking of $11,000,000 Bank the MACON, Ga., Nov. 28 Eight small Georgia banks were closed today as result of the failure Monday of the Fourth Notional Bank of Macon, with listed resources of more than $11,000.000 With the exception of the Citizens Bank of Fort Vallev, espitalized at $100,000. the other stitutions, the Bank of Byronville. Irwinton Bank, Bank of Preston, Citizens Bank Company of Culloden, Bank of Bradley, and Merchants Bank of Gordon. Bank Byron were capitalized at from $15,000 to $25,000. The institutions were c'osed afheavy runs Tuesday due to the financial scare that followed closing of the Macon bank. All the banks are located in the Georgia peach belt. Exact cause of the run was concealed. although financial circles said recent investments had turned out poorly.

8. November 28, 1928 The Ogden Standard-Examiner Ogden, UT
Article from The Ogden Standard-Examiner, November 28, 1928

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Article Text

EIGHT BANKS CLOSE WHEN ONE FAILS MACON, Ga., Nov. Eight small Georgia banks were closed today as result of the failure Monday of the Fourth National bank of Macon. with listed resources of more than With the exception of the Citizens' bank of Fort Valley. capitalized at $100,000. the other institutions. the Bank of Byronville, Irwinton bank, Bank of Preston, Citizens Bank company of Culloden, Bank of Bradley, Farmers and Merchants' Bank of Gordon, and Farmers' Bank of Byron capitalized at from $15,000 to $25,000. The institutions were closed after heavy runs Tuesday due to the financial scare that followed closIng of the Macon bank All the banks located the Georgia peach belt. Exact cause of the run was con. cealed, although financial circles said recent investments had turned out, poorly.

9. November 29, 1928 The Altus Times-Democrat Altus, OK
Article from The Altus Times-Democrat, November 29, 1928

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Article Text

EIGHT GEORGIA BANKS CLOSED MACON. Ga. Nov. Eight small Georgia banks were closed today as result of the failure Monday of the Fourth National Bank of with listed resources of more than With the exception of the Citizens bank of Fort Valley, capitalized $100,000. other institutions. the bank of Byronville and Bank of Irwinton: Bank of Preston. Citizens Bank company of Culloden. Bank of Bradley, Farmers and Merchants Bank of Gordon. and Farmers bank of Byron were capitalized at from $15,000 $25,000 The institutions were closed after heavy runs Tue day due to the financial scare that followed closing of the Macon bank

10. November 30, 1928 The News Paterson, NJ
Article from The News, November 30, 1928

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Article Text

EIGHT MORE BANKS CLOSED IN GEORGIA Shut-Down of Fourth Nation- Merchants Bank of Gordon, the Bank of Culloden and Bank of Preston The State bank examiner will charge once and every effort will be made to reorganize and reopen the banks as soon as possible. What caused the run on the Macon not known. One reports lays to rumors regarding the dropping egotiations for the sale Fourth National to syndicate of Atlanta The Citizens Bank of Fort Valley is declared by its officers to be vent and the suspension to desire to conserve assets. President Edwin Martin said had capital of $100,000 and and surplus undivided profits of There was run the bank fol. lowing news of the run in the Fourth The Byron bank had capital stock