Bank of La Grange (La Grange, NC)

Episode Information

Episode UID
3104203891338
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
310420389 hash
Start Date
June 5, 1911
Location
La Grange, North Carolina (35.307, -77.788)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
130b047e56048a14

Response Measures

None

Description

Closed by the state Corporation Commission for irregularities; a receiver was appointed immediately.

Events (2)
1. June 5, 1911 Suspension
Cause
Government Action
Cause Details
Ordered closed by the state Corporation Commission following examiner's report citing irregularities, $12,000 of overdrafts and unsecured paper.
Newspaper Excerpt
Bank of LaGrange at LaGrange, Lenoir county, was ordered closed this afternoon by the Corporation Commission on the report of the State bank examiner.
Source
newspapers
2. June 6, 1911 Receivership
Newspaper Excerpt
The Corporation Commission has procured the appointment of T. R. Rouse as temporary receiver to wind up the affairs of the Bank of La Grange, which was closed yesterday on account of its bad financial condition and mismanagement.
Source
newspapers

Newspaper Articles (3)
1. June 5, 1911 The Richmond Virginian Richmond, VA
Article from The Richmond Virginian, June 5, 1911

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Article Text

BANK IS CLOSED FOR IRREGULARITIES (Special to The Richmond Virginian.) RALEIGH, N. C., June 5.-Bank of LaGrange at LaGrange, Lenoir county, was ordered closed this afternoon by the Corporation Commission on the report of the State bank examiner. Officers of the institution were criticised in October and promised to comply with the law, but thirty days after examination, it is alleged irregularities began. The bank has 12,000 of overdrafts and unsecured paper. John R. Wooten is president and L F. Davis is cashier. It is probable that depositors will be paid in full, A receiver will be appointed.

2. June 6, 1911 The Richmond Virginian Richmond, VA
Article from The Richmond Virginian, June 6, 1911

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Article Text

T. R. ROUSE, RECEIVER FOR BANK OF LA GRANGE (Special to The Richmond Virginian.) RALEIGH, N. C., June 6.-The Corporation Commission has procured the appointment of T. R. Rouse as temporary receiver to wind up the affairs of the Bank of La Grange, which was closed yesterday on account of its bad financial condition and mismanagement. The appointment was procured last night from Judge Whedbee, of the Supreme Court. and is effective at once. Mr. Rouse is the cashier of the Rouse Banking Company, of La Grange.

3. June 9, 1911 The Durham Recorder Durham, Hillsboro, NC
Article from The Durham Recorder, June 9, 1911

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Article Text

Receiver for Bank of LaGrange. LaGrange.-T. R. Rouse, cashier of the Rouse Banking company, of LaGrange, took charge of the defunct Bank of LaGrange today to wind up its affairs. The appointment of Rouse as the receiver was procured by the corporation commission before Judge Whedbee, of Goldsboro.