Merchants National Bank (Rome, GA)

Episode Information

Episode UID
367001144
Episode Type
Suspension โ†’ Reopening
Bank Type
national
Bank ID
36700 national
Charter Number
3670
Start Date
April 27, 1895
Location
Rome, Georgia (34.257, -85.165)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
db93c8fded1b7abd

Response Measures

None

Description

Bank examiner placed in charge; president resigned at suspension.

Events (4)

1. April 14, 1887 Chartered
Source
historical_nic
2. April 27, 1895 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Short of ready money and heavily invested in real estate that could not be realized; board ordered temporary closure.
Newspaper Excerpt
This bank closed temporarily by order of the board of directors ... it is short of ready money.
Source
newspapers
3. August 8, 1895 Reopening
Newspaper Excerpt
The Merchants' National Bank of Rome, Georgia ... has been authorized to reopen its doors and resume business.
Source
newspapers
4. December 15, 1897 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (14)

Article from The Seattle Post-Intelligencer, April 28, 1895

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Article Text

Business Failures. Washington City, April 27.-A telegram was received today by Comptroller Eckels stating that the Merchants' National bank of Rome, Georgia, had closed. The bank has a capital of $170,000. San Francisco, April 27.-Rumble & Co., put and call operators on the produce exchange, suspended payment today on a


Article from Birmingham Age-Herald, April 28, 1895

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Article Text

IT WAS A SURPRISE. The Suspension of the Merchant's National Bank of Rome, Ga. Rome, Ga., April 27.-"This bank closed temporarily by order of the board of directors" was the notice posted on the closed doors of the Merchants' National bank this morning. The suspension of the bank was a great surprise. It is believed that all the depositors will be paid every dollar. The directors hope to reopen the institution soon, with a new president. The city's funds, amounting to several thousand dollars, were deposited in the bank. President Jack King has tendered his resignation. No statement can be obtained of the bank's affairs beyond the announcement that it is short of ready money.


Article from The Providence News, April 29, 1895

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Article Text

Georgia Bank Suspends. WASHINGTON, April 29.-The Merchants' National bank of Rome, Ga., has closed its doors. The bank has a capital of $100,DOO.


Article from New-York Tribune, April 29, 1895

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Article Text

COLLAPSE OF A GEORGIA BANK. Rome, Ga., April 28.-The suspension of the Merchants' National Bank yesterday was a great surprise. It is believed that all the depositors will be paid in full. The directors hope to reopen the institution soon with a new president. The city's funds, amounting to several thousand dollars. were deposited in the bank. President King has tendered his resignation, and the bank examiner has been placed in charge. The institution seems to have been overloaded with real estate, upon which It could not realize. The deposits amounted to $165,000.


Article from Evening Star, August 8, 1895

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Article Text

Will Resume Business. The Merchants' National Bank of Rome, Georgia, which suspended payment April 27, 1895, having fully complied with the conditions imposed by the controller of the currency precedent to resumption, and its capital stock being unimpaired, has been authorized to reopen its doors and resume business.


Article from The Evening Times, August 8, 1895

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Article Text

Bank of Rescue. The Merchants National Bank, of Rome, Ga., has been authorized by the Comptroller to reopen its doors and resume business. This bank suspended payment April 27, 1895, but has fully complied with the conditions imposed by the Comptroller of the Currency, and its capital stock is uninjured.


Article from Birmingham Age-Herald, August 9, 1895

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Article Text

Rome, Ga., Bank Authorized to Resume. Washington, Aug. 8.-The Merchants' National bank of Rome, Ga., has been authorized by the comptroller to resume business. The bank suspended April 27, 1895, but has fully complied with the conditions imposed by the comptroller of the currency, and its capital stock is uninjured.


Article from San Antonio Daily Light, August 9, 1895

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Merchant's National Resumes. WASHINGTON, Aug. 9.-The Merchant's National bank, of Rome, Ga., which suspended payment April 27, 1895, having fully complied with the conditions imposed by the comptroller of the currency, precedent to the resumption, and its capital stock being unimpaired, has been authorized to resume business.


Article from The Times, August 9, 1895

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A Bank to Resume. WASHINGTON, D. C., Aug. 8.-The Merchants National Bank of Rome, Ga. has been authorized by the Comptroller to resume business. The bank suspended April 27, 1895, but has fully complied with the conditions imposed by the Comptreller of the Currency, and its capital stock is uninjured.


Article from The Morning News, August 9, 1895

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Rome's Bank to Resume. Washington, Aug. 8.-The Merchants' National Bank of Rome, Ga., has been authorized by the controller to resume business. The bank suspended on April 27, 1895, but has fully complied with the conditions imposed by the Controller of the Currency and its capital stock is uninjured.


Article from The Indianapolis Journal, August 9, 1895

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General Notes. WASHINGTON, Aug. 8.-The Controller of the Currency has appointed Frank M. Wallace, of Pittsburg, a national bank examiner, to succeed A. F. Henlein, resigned. The Merchants' National Bank, of Rome, Ga., which suspended payment April 27, 1895, having fully complied with the conditions imposed by the Controller of the Currency precedent to resumption, and its capital stock being unimpaired, has been authorized to resume business. To-day's statement of the condition of the treasury shows: Available cash balance, $184,142,803; gold reserve, $104,118,662. At Indian Head, to-day, a test was made by Lieutenant Mason of the Leonard bulletproof shield cloth for the purpose of ascertaining its fitness for naval purposes. The official report will be made in a few days. A marriage license has been issued here to Marshall A. Cunning, of Indianapolis, and Hannah Anderson, of Washington. The President has refused a pardon in the case of Jim Billy, sentenced in. Texas to three years for assault with intent to rob. Among the cadets appointed to the Mili tary Academy at West Point is Charles Borders, of Winamac, Ind., as alternate. Postmaster-general Wilson left the city for a few days at Long Branch to-day. Third Assistant Craig is now acting as Postmaster-general, the first, second and fourth assistants being absent on vacations.


Article from Warren Sheaf, August 15, 1895

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WEST AND SOUTH. THE Iowa democrats in state convention at Marshalltown nominated the following ticket: For governor, Judge W. I. Babb, of Mount Pleasant; lieutenant governor, S. L. Bestow, of Chariton; superintendent of publie instruetion, Lyman B. Parshall, of Maquoketa; railroad commissioner, Col. George James, of Dubuque; supreme judge, Senator Thomas G. Harper, of Des Moines. The platform reaffirms the national platform of 1892, indorsing the money plank therein adopted, urges the repeal of -the mulct law and the enactment of a local option measure, favors the election of United States senators by a direct vote of the people and favors just and liberal pensions to all deserving veterans. WHILE drunk EL Hix, a laborer at Bigstone Gap, Va., fire to his home and he and four of his children.were cremated. A SCHOOL census of Nashville, Tenn., shows the population to be 82,374, of which 37,654 are negroes, an increase in one year of 8,268. ON Monday and Tuesday, September 16 and 17, 1895, the twenty-seventh reunion of the Society of the Army of the Tennessee will be held in Cincinnati. MISSISSIPPI democrats in convention at Jackson nominated A. J. McLaurin for governor. L. F. ELLIS, of Cleveland, was elected commander in chief at the national convention in Lima, 0., of the Union Veterans' union. IN a wreck on the Atlantic & Pacific railroad at Grant Station, N. M., twelve persons were reported killed and twenty-five wounded. THE Nebraska republican convention will be held at Lincoln October 2. AT Toledo, O., the old established book and stationery house of B. F. Wade & Co. failed. IN mass meeting the miners rescinded a resolution expelling all negroes from Spring Valley, III. AT a railway crossing in Decatur, Ind., Mrs. Henry Johnson and her three children were struck by an engine and one child was instantly killed and the others were fatally injured. FLAMES at Pendleton, Ore., consumed the Transfer hotel and several buildings and four persons lest their lives. IN Logan, Trego and Thomas counties in Kansas, black rust was said to be ruining hundreds of fields of spring wheat AT Peoria, III., Hearst, Dunn & Co., a large agricultural implement firm, failed for $133, 435; assets, $115,649. IN a railway wreck near Denver, Col., Rev. E. C. Wheeler, a Baptist evan, gelist, who had been in California with his car Emanuel; was killed. Several other persons were hurt. IN session at Minneapolis the United Typothete elected E. R. Andrews, of Rochester, N. Y., president and decided to meet in Rochester in August, 1896. AT his home in Lowell, Ind., Peter Surprise celebrated his 102d birthday. a AT Jacksonville, Fla., E. A. Smith, barber, dropped dead. Since his death it has developed that he was married to seven women. AT Rome. Ga., the Merchants' national bank which suspended payment April 27, 1895, was authorized to resume business. IN the 64th year of his age Howell Edmunds Jackson, associate justice of the supreme court of the United States, died at his residence at West Meade, Tenn., of consumption. BETWEEN the summit of Pike's Peak and army headquarters in Denver, a distance of 60 miles, heliograph communications were exchanged.


Article from The Gold Leaf, August 15, 1895

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Col. Burgwyn's Good Management. About four months ago the Merchant's National Bank of Rome, Ga., suspended. Soon thereafter Col. W. II. S. Burgwyn, bank examiner, was put in charge to wind up its business. This he has done with good success, the result being that the bank has again opened its doors, under new organization, as we see from the Rome Tribune of last Friday. That paper in speaking of the excellent management of our townsman since the affairs of the suspended bank were put in his hands, says this : Col. Burgwyn, the bank examiner, who bas SO faithfully guarded the trust confided to him, turned the affairs of the bank over to the new board of directors and the new officers were duly installed. In his excellent management of the affairs of the bank, enabling the stockholders to recover themselves and reorganize under such favorable terms. Col. Burgwyn deserves and has received the thanks of the stockholders and depositors of the bank together with all the people of Rome.


Article from Perrysburg Journal, August 17, 1895

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WEST AND SOUTH. AT his home in Lowell, Ind., Peter Surprise celebrated his 102d birthday. AT Jacksonville, Fla., E. A. Smith, a barber, dropped dead. Since his death it has developed that he was married to seven women. AT Rome. Ga., the Merchants' national bank which suspended payment April 27, 1895, was authorized to resume business. IN the 64th year of his age Howell Edmiunds Jackson, associate justice of the supreme court of the United States, died at his residence at West Meade, Tenn., of consumption. BETWEEN the summit of Pike's Peak and army headquarters in Denver, a distance of 60 miles, heliograph communications were exchanged. A DOG capsized a boat on the lake at Highland Park, Ill., and M. T. Green, president of the Chicago Lumber company, and Sorn Sorenson were drowned. THE doors of the Bank of Palouse, at Palouse City, Wash., were closed with liabilities of $65,000. HELEN C. STEWART, of Springfield, Mo., was appointed sheriff of Green county, to succeed her deceased husband. Mrs. Stewart, as far as known, is the first woman sheriff in the United States. FLAMES in the lumber piles of the Skillings, Whitney & Barnes Co. at Ogdensburg, N. Y., destroyed property valued at $150,000. IN San Quentin prison, California, Tremont Smith was hanged for the murder of two fishing companions. THE death of Mrs. Mary Winns occurred at Cincinnati, aged 108 years. NEAR Decatur, Ind., a horse became frightened and plunged off of a 30-foot embankment, and three prominent society women, Mrs. Mangold, Mrs. J. C. Paterson and her mother, Mrs. Erwin, were fatally injured. AT the Alpha home in Indianapolis Mrs. Kedzie Pierce. who had formerly been a slave in Virginia, died at the age of 123 years. THE assessed valuation of the state of Iowa is $558,985,292. LIGHTNING killed Arthur and C. J. Johnson (brothers) and A. C. Anderson near Odebolt, Ia. They bad taken refuge under a tree during a storm. FIRE destroyed the fertilizer factory