Gastonia Banking Company (Gastonia, NC)

Episode Information

Episode UID
2487285391259
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
248728539 hash
Start Date
November 30, 1904
Location
Gastonia, North Carolina (35.262, -81.187)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e4fc99533d1ede37

Response Measures

None

Description

Articles report state examiner taking charge and receiver sought; small discrepancy in president's middle initial (F. vs E.) in later recall.

Events (2)

1. November 30, 1904 Receivership
Newspaper Excerpt
The Corporation Commission ... to take charge of the Gastonia Banking Company ... until a receiver is appointed; appointment being requested immediately; the corporation commissioners think the bank insolvent on account of excessive loans on poor securities.
Source
newspapers
2. November 30, 1904 Suspension
Cause
Government Action
Cause Details
Corporation Commission ordered state bank examiner to take charge citing insolvency from excessive loans and poor securities.
Newspaper Excerpt
The Corporation Commission to-day ordered State Bank Examiner Ellington to take charge of the Gastonia Banking Company, a state institution, until a receiver is appointed.
Source
newspapers

Newspaper Articles (10)

Article from The Savannah Morning News, December 1, 1904

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Article Text

EXAMINER IN CHARGE. Receiver Wanted for the Gastonia Banking Company. Charlotte, N. C., Nov. 30.-The Corporation Commission to-day ordered State Bank Examiner Ellington to take charge of the Gastonia Banking Company, a state institution, until a receiver is appointed, the appointment being requested immediately. John F. Love is president, and Joseph A Page, cashier. The capital stock is $100,000; total resources and liabilities, $281,000; due depositors, $136,000. The corporation commissioners think the bank insolvent on account of excessive loans on poor securities.


Article from The Birmingham Age-Herald, December 1, 1904

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Article Text

Bank In Charge of Examiner. Charlotte, N. C., November 30.-The corporation commission today ordered State Bank Examiner Ellington to take charge of the Gastonia Banking company, a state institution, until a receiver is appointed. John F. Love is president, and Joseph A. Page cashier. The capital stock is $100,000. Deposits, $136,000. The corporation commissioners think the bank insolvent.


Article from The News & Observer, December 1, 1904

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Article Text

BANK IS INSOLVENT RECEIVER'S STORY Corporation Commission W. J. Edwards Takes the Stand in Case to Reto Apply for Receiver for move Him. Gastonia Banking Co. (Special to News and Observer.) The Corporation Commission yesterday directed State Bank Examiner J. Lumberton, N. C., Nov. 30.-The hearing in the case of the Southern C. Ellington to take charge of the money, credits and assets of the GasSaw Mill and Lumber Company on tonia Banking Company and to hold motion to remove Receiver W. J. Edthe same in his possession until the wards was commenced today at 2 commission had an opportunity to foro'clock at the court house before the nially apply for a receiver for the special master, H. F'. Seawell, to whom bank. the matter was referred by Judge The assets of the bank are techniPritchard on the first hearing at Ralcaliy $280,000, and the liabilities of an e gh, November 12th, for the purpose equal amount. The bank is due de of taking evidence and finding the positors $136,000 and its capital stock facts. is $100,000. The complainants, Robert L. ForThere is no special cause assigned rest and others, were represented by for the solvency of the institut on extheir attorneys, R. E. Lee, Esc. of cept the general one of over-extenLumberton, and Iredell Meares, Esq. sion of loans. of Wilmington. The defendant W. J. The officers of the bank are: Jno. F. Edwards, was represented by his Love, president; and Jas. A. Page. council, Duncan E. McIver, Esq., of cashier. Sanford, and by McIntyre and LawCorporation Commissioner Rogers rence and McLean and McCormick, of left yesterday afternoon- for Chariotte the Lumberton bar. to make application to Judge W. R After reading the pleadings and afAllen for a receiver for the insolvent fidavits and some preliminary discusbank. the complainants put un the


Article from The News & Observer, December 1, 1904

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Article Text

Mr. S. L. Rogers, of the Corporation Commission, left yesterday for Charlotte, where he goes to apply to Judge W. R. Allen, now holding court there, for a receiver for the Gastonia Banking Company, which has failed.


Article from The Times Dispatch, December 1, 1904

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Article Text

Gastonia Bank Fails. (Special to The Times-Dispatch.) RALEIGH, N. C., Nov. 30.-The North Carolina Corporation Commission to-day ordered State Bank Examiner J. O. Ellington to take charge of the Gastonia Banking Company, Gastonia, and hold Its assets until a receiver could be appointed. J. F. Love is president and J. A. Page cashier. The capital is $100,000 and the resources and liabilities $281,000, according to the last quarterly report. Amount due depositors, $136,000. The failure of the bank is attributed to excessive loans and insufficient securities,


Article from The Fulton County News, December 7, 1904

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Article Text

Gastonia Bank in Trouble. Charlotte, N. C. (Special). - The Corporation Commission ordered State Bank Examiner Ellington to take charge of the Gastonia Banking Company, a State institution, until a receiver is appointed, the appointment being requested immediately. J.F. Love is president and Joseph A. Page cashier. The capital stock is $100,000; total resources and liabilities, $281,000; due depositors, $136,000.


Article from The Pickens Sentinel-Journal, December 7, 1904

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Article Text

THIS BANK IN BAD WAY. Concern at Gastonia, N. c., to Be Placed in Receiver's Hands. The North Carolina corporation commission Wednesday, ordered Bank Examiner Ellington to go to Gastonia and take charge of the Gastonia Banking Company, until the judge of that district appoints a receiver. Application for such appointment is to he made at once. The total resources and liabilities of the bank are $281,000; capital stock $100,000; amount due depositors $136,000.


Article from The County Record, December 8, 1904

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Article Text

Gastonia Bank Fails. Gastonia, N. C., Special.-Quite a sensation was sprung here Wednesday afternoon, when State Bank Examiner J. O. Ellington closed the doors of the Gastonia Banking Company at 2 o'clock, and took charge of the assets, pending the appointment of a receiver. The failure of this well-known financial institution came as a complete surprise to the citizens of the town. Mr. John F. Love, a prominent cotton mill man, is president, and Mr. James A. Page is cashier.


Article from Highland Recorder, December 9, 1904

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Article Text

Gastonia Bank in Trouble. Charlotte, N. C. (Special). - The Corporation Commission ordered State Bank Examiner Ellington to take charge of the Gastonia Banking Company, a State institution, until a receiver is appointed, the appointment being requested immediately J. F. Love is president and Joseph A. Page cashier. The capital stock is $100,000; total resources and liabilities, $281,000; due depositors, $136,000.


Article from The Charlotte Observer, December 1, 1924

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Article Text

TWENTY YEARS AGO TODAY. Bank receiver to be asked for the Gastonia Banking Company. Doors closed yesterday by J. O. Ellington, Bank Examiner. John E. Love is president of the bank, and James A. Page cashier. Amount due depositors said to be $138,000. General belief that the bank will pay creditors in full. Rev. A. Shorter Caldwell of Barium Springs has accepted a call to the pastorate of the Presbyterian Church at Albemarle and will move his family there next month. South Carolina Baptists will hold their State Convention at Chester. Among the ministers from North Carolina are Rev. Dr. A. C. Barron and Rev. J. A. Adams of Charlotte. Miss Nannie G. Mebane, daughter of Mrs. E. C. Mebane of Greensboro, was married yesterday to Mr. John Tabb Donoho, of Milton, the ceremony being performed by Rev. Dr. E. W. Smith, pastor of the First Presbyterian Church. The cantaloupe growers of the vicinity of Maxton have organized for the marketing of their crop under the name of the Maxton Growers Association. The officers are H. C. McNair, president; A. E. McCormick, vice president, and Roy McNair, secretary-treasurer. Event of high social interest in Maxton was the marriage of Miss Annie Lane MacRae, and Mr. R. M. Williams, which was solemnized in the Presbyterian Church, the minister being Rev. Dr. H. C. Hill. Miss Mary Fuller Roberson of Fayetteville was maid of honor, and Dr. L. R. Kirkpatrick, best man. The marriage was of Statewide social note. Miss Carrie Etta Wearn and Mr. Ralph Perkins Conley, were married yesterday at the minister being Rev. Dr. T. F. Marr, of Tryon Street Methodist Church. Shortly after the ceremony they left for Lenoir where a reception will be tendered them by the groom's mother. The groom is a native of Lenoir but now a resident of Charlotte. Mr. and Mrs. W. W. Hagood will celebrate the fifth anniversary—the wooden wedding—Tuesday evening, cards having been issued by them to several hundred friends. Miss Lucile Withers, student at the Baptist University for Women at Raleigh, comes home tonight on a visit to her parents, Mr. and Mrs. B. F. Withers. Accompanying her will be Miss Mary Johnston, of Thomasville. Mr. W. W. Supplee, president of the Supplee Hardware Company of Philadelphia, who has been a guest of Mr. W. W. Watt for several days, left last night for home. Governor-elect R. B. Glenn, of Winston, is a guest at the Buford Hotel. Mr. D. H. Anderson leaves this morning for Havana, Cuba, for a stay of several months. The Aeriel Male Quartet of this city will give a concert at Monroe on the evening of December 2, for the benefit of the Ladies' Aid of the Methodist Church.