First National Bank (Starkville, MS)

View Charter #3688 on SPMC View balance sheet

Episode Information

Episode UID
368801123
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
36880 national
Charter Number
3688
Start Date
July 15, 1893
Location
Starkville, Mississippi (33.450, -88.818)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
265ec9493ea34170

Response Measures

None

Receivership Details

Depositor recovery rate
40.0%
Date receivership started
1893-08-09
Date receivership terminated
1899-02-27
OCC cause of failure
Fraud
Share of assets assessed as good
29.1%
Share of assets assessed as doubtful
33.9%
Share of assets assessed as worthless
37.0%

Description

Closure appears tied to the nationwide financial stringency of summer 1893; receiver appointed Aug 9, 1893.

Events (4)
1. April 30, 1887 Chartered
Source
historical_nic
2. July 15, 1893 Suspension
Cause
Macro News
Cause Details
Closed as a result of the financial stringency/panic of July 1893 (general money stringency).
Newspaper Excerpt
The First National bank closed its doors yesterday.
Source
newspapers
3. August 9, 1893 Receivership
Source
historical_nic
4. August 9, 1893 Receivership
Newspaper Excerpt
Comptroller Eckels today appointed W. G. Sykes, receiver of the First National Bank of Starkville, Miss.
Source
newspapers

Newspaper Articles (11)
1. July 15, 1893 Asheville Daily Citizen Asheville, NC
Article from Asheville Daily Citizen, July 15, 1893

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Article Text

Their Doors Closed. STARKSVILLE, Miss., July 15.-The First National bank closed its doors yesterday. Its depositors will be paid in full. CARMILLS, III., July 15.- The old banking house of Hayes & Webb made a general assignment ,yesterday. Assets, $216,267; Liabilities $180,000. KANSAS CITY, Mo., July 15.-The Northrup bank of Kansas City, Kan., of which J. S. Chick of the national bank of Kansas City which failed yesterday is also president, closed its doors this morning. RICHMOND, Va., July 15.-Speet & Spect, jewelers, have assigned. Liabilities $10,000; assets $17,000.

2. July 16, 1893 The Times Richmond, VA
Article from The Times, July 16, 1893

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RUN ON KANSAS CITY BANKS. The Failure of One Institution Precipitates a General Storm-Bank Failures. KANSAS CITY, MO., July 15.-The failure of the Bank of Kansas City yesterday précipitated runs on three-fourths of the large banks in the city to-day, and Delaware and Ninth streets, the bank streets, were thronged as they have not been In years. Crowds were on every corner and before and around every large bank. At 10 o'clock there were two long double rows of depositors in the Metropolitan and Missouri National Banks. The New York Life building, In which they are located, was thronged. The Metropolitan had two paying tellers at work and the Missouri National had three. All the banks paid out money fast, but the greatest excitement was about the Bank of Commerce, the two named just above, and the First National. The Bank of Commerce had three stalwart policemen before the door, and none except those who had business with the bank were allowed to enter. There had been rumors about the bank, which has a paid-up capital of $2,000,000. for some time, and last night the stockholders, realizing that the institution was in danger, owing to the excitement, signed a pledge passing their estates into the bank's assets. The sum total was about $4,000,000. About noon confidence had been in a large measure restored, and the runs were stopped. except on the Missouri National, which continued slowly. Unless some bank falls the crisis for the Immediate present is passed. STARKVILLE, MISS., July 15.-The First National Bank closed its doors yesterday, as a result of the financial stringency. It is believed that depositors will be paid in full. The bank has a paid up capital of $50,000. CARMI, ILL., July 15.-The old banking-house of Hay & Webb made a general assignment yesterday. The assets are $216,267. and liabilities $180,000. Hay & Webb have been In business for thirtyfive years. The stringency of the money market is the chief cause of the failure. KANSAS CITY, MO., July 15.-The Northrup Bank, of Kansas City, Kansas, of which J. S. Chick, of the National Bank of Kansas City, which failed yesterday, was also president, closed its doors this morning. Bank Examiner C. W. Galbreath took charge of the suspended Kansas City National Bank this morning. There was a run on the National Bank of Commerce as soon as that concern opened for business this morning. In the statement made yesterday the condition of the bank was shown to be good, and the officials assert that they will be able to stand a long run, which, however, they think will not be necessary. But little excitement prevails, and it is thought the bank will pull through all right. as it ranks with the strongest in the city.

3. July 21, 1893 The Pascagoula Democrat-Star Pascagoula, MS
Article from The Pascagoula Democrat-Star, July 21, 1893

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Jackson pulls night prowlers. Clinton sports a mineral well. Woodville makes war on dogs. Vicksburg has a fine new hotel. Watermelons glut the markets. Vicksburg jail has 60 prisoners. Liberty bas a theatrical troupe. "Clean up" is the universal cry. Rosedale has a fine crop of dogs. Good deal of sickness at Siding. Forest reports a saw mill failure. Vicksburg has let up on baseball. Professional baseball wasn't in it. Yallabousha erops suffer for rain. Too much rain in Jasper county. The Coast pear crop is splendid. Stock is dirt cheap in Lee county. Chickens sells for 121/20 at Ripley. Port Gibson has passed a hog law. Electric lights agitate Port Gibson. Cotton in the delta is sorry and late. Raymond wants a military company. Grenada complains of weedy streets. Corn crop is generally large and fine. The baseballists are burying the bat. The Meridian Tribune has come to life. Greenwood still clamors for a cannery. Claiborne county reports army worms. F.B. Miller, mayor of Quitman is dead. Rain is wanted in the Meridian territory. Watermelons go for a nickle in Ellisville. A Monroe farmer has four acres in onions. Hog erop is unusually large in Lauderdale. The cotton caterpillar is reported at Natchez. F. E. Gottseelig, Starkville, has assigned. M. Tucker, Wilkinson, killed his step-child. D. L. Dalton is Shannon's new postmaster. A steam laundry would please Hattiesburg. A matrimonial club is Eastabutchie's boast. August 1st Chickasaw will vote on whiskey. Loafers and sickness plentiful in Ellisville. Cotton worms have appeared in Adams co. The Crystal Springs Meteor has suspended. Winona has organized a Horticultural Society. The Natchez Oil Mills will sink an arterian well. The hoop factory at Hickory is far behind with orders. Jackson pays over half the personal tax of Hinds county. Edmund Down, a wealthy colored man of Magnolia, was waylaid the other night and shot to death. Col. Nick McLean, of the Edwards House, Jackson, is dead. Greenwood uses a windmill to draw water from the public well. Miss Edith Baker has been appointed postmaster at Raymond. A Perry county man raised this season 5,000 pounds of wool. Greenwood will use forty million brick in various improvements. Lightning at Hamburg the other day killed a man, child and horse. Sardis has organized a Confederate Camp with fifty-three members. Wesson has completed her high school building at a cost of $17,000. The last issue of the Belan Times did not contain a single local news item. The First National Bank at Starkville has succumbed to the financial depression. The last thing a little Enterprise darkey did before he died was to drink a lot of coal oil. Rosedale is dull and lonesome, so many of her citizens having gone off for the summer. The Progress says Water Valley is doing her part towards supporting the World's Fair. Judge Mayers has appointed A. B. Crocker, of Forest, stenographer of the Eight Judicial District. A Daleville man has a cow that yields per day two pounds of butter and forty-two pounds of milk. The Columbus Riflemen are contemplating a Biloxi trip instead of their proposed visit to the World's Fair. The yonng ladies of Sardis will organize a matrimonial endeavor association to be known as a Cooking Club. Rev. E. L. B. McClellan, pastor Corinth Cumberland Presbyterian Church, will go to California to reside. The Copiah Signal says the yellow freestone is the only peach that can be shipped north with any assurance of success. A number of lumbermen recently met at Brookhaven and filed a protest against the increase of railroad rates on lumber. Mr. R. B. Clark, of Shannon, has the appointment of Commisoioner to award premiums on cotton at the World's Fair. Thomas Touchstone, whose parents live in Wesson, was found dead and his body badly mutilated near Meridian last week. The Jefferson county Supervisors are asked tolevy an extra 3-mill tax to run the public schools eight mon the instead of four. Henry Fleming, a Columbus negro murderor was taken. from the iail and hung. last

4. July 25, 1893 The Progressive Farmer Raleigh, Winston-Salem, Winston, NC
Article from The Progressive Farmer, July 25, 1893

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DENVER. Col., July 18-The Com mercial National Bank has closed its doors. The notice posted on it says: "This bank has gone into liquidation by order of the board of directors. The National Bank of Cammerce has closed its doors. Ex Governor Jeb A. Cooper is president of this bank. CINCINNATI, July 18 -Mrs. Mary Anna Kauffmann, wife and executrix of the late John Kauffman, made a personal assignment last evening Liabilities $100,200 She owns a large portion of the Kauffman brewery, which went in 0 assign ment last Friday. TOLEDO, 0, July 18.-Citizens' bank of Ada, the most prominent one in Hardin county, failed to open its doors this a. m. Its owner, Peter F. Ahlfield, has controlled it over a quarter of a century and is one of the wealthiest men of that section. FORT SCOTT, Kansas, July 18.-The First National bank of this city, the oldest financial institution in southeastern Kansas, has suspended payment. DENVER, Col., July 18.-The McNamara dry goods company, one of the largest houses in the west, was closed on attachments this morning. Philadelphia, July 18.-John Mc Connell, manufacturer of morocco, has failed. Liabilities, $200,000. INDIANAPOLIS, Ind., July 18.-Geo. Schoolfield, dealer in horses and mules, has made an assignment. Liabilities, $50,000. NEW YORK, July 18.-Wall street is again in an excited condition to day, and there are very declines caused by the reported embarrassment of a large London house. The market is in a panic. KANSAS CITY, July 17.-A special special from Topeka, Kansas, says: State Bank Examiner Breidenthal says, Hood & Kincaid's bank, at Pleasanton, Kansas, has failed, and is in the hands of Deputy State Bank Commissioner Osborne. The capital stock is $80,0.0 No statement is given. Breidenthal has information of a number of other bank failures in the State, but he declines to give the names until he has taken possession. STARKVILLE, Miss., July 15.-The First National bank closed its doors yesterday at the result of the financial stringency. It is believed that the depositors will be paid in full. The bank has a paid up capital of $50,000. ST. LOUIS, July 15.-Sheriff Stead has taken possession of the office and books of Milo T. Bogard, one of the largest real estate men in the city. Bogard is also heavily interested in many building and loan associations. RICHMOND, Va., July 15.-Spott & Spott, Jewelers, have assigned. Their liabilities ale $10,000; assets $17,000.

5. August 10, 1893 Grand Rapids Herald Grand Rapids, MI
Article from Grand Rapids Herald, August 10, 1893

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Notes About the Capitol. Comptroller Eckels yesterday appointed receivers of national banks as follows: W. G. Sykes, receiver of the First National bank of Starkville, Mississippi, and E. W. Knight, Jr., receiver of the Stockgrowers' National bank of Miles City, Montana. The president did not come to the white house yesterday, but remained at Woodley, his country place. There are urgent matters requiring his consideration, to which he can give only quiet and uninterrupted attention in his country retreat. It is understood that Speaker Crisp has determined to place Representative Aldrich on the committee on District of Columbia. The gold in the treasury was yesterday $3,157,857 above the$100,000,000 gold reserve. No nominations were sent in to the senate yesterday.

6. August 10, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, August 10, 1893

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Gold in the Treasury. WASHINGTON, Aug. 9.-The gold in the treasury is today $3,157,853 above the $100,000,000 gold reserve. Comptroller Eckels today appointed receivers of national banks as follows: W. G. Sykes, receiver of the First National Bank of Starkville, Miss., and E. W. Knight Jr., receiver of the Stock Growers' National bank, of Miles City, Mont.

7. August 10, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, August 10, 1893

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Gold in the Treasury. WASHINGTON, Aug. 9.-The gold in the treasury is today $3,157,853 above the $100,000,000 gold reserve. Comptroller Eckels today appointed receivers of national banks as follows: W. G. Sykes, receiver of the First National Bank of Starkville, Miss., and E. W. Knight Jr., receiver of the Stock Growers' National bank, of Miles City, Mont.

8. August 15, 1893 Mississippi Leader Jackson, Brookhaven, MS
Article from Mississippi Leader, August 15, 1893

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Dr. W. G. Sykes, of Aberdeen, has been appointed receiver of the the suspended National Bank of Starkville. on a salary of $2,500 a year.

9. August 18, 1893 The Pascagoula Democrat-Star Pascagoula, MS
Article from The Pascagoula Democrat-Star, August 18, 1893

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Bacon is down. The pistol must go. Quarantine is the thing. Oil and water won't mix. Some marry going on. Beef is cheap at Logtown. Gloster is growing town. Liberty has an egg famine. Meridian ships lots of fruit. Dogs overrum Hattiesburg. Travel to Chicago is brisk. Teachers' Institutes galore. Hancock county reports oil. Neshoba county owes $3,000. Society rests at Yazoo City. Liberty improves her streets. Jasper has had too much rain. Brandon wants a gab-stopper. Ripley's streets need weeding. Jackson has only three saloons. Jones county has meat to sell. Byhalia has been Joe Jonesed. Logtown lumber mills are bysy. Yellow fever scare has subsided. New Albany ships lots of lumber. State melish is at Cooper's Well. Where is Detective Sommers at ? Protracted meetings everywhere. Lauderdale has a training school. Biloxi is sick of negro excursions. Museadines are ripe on the Coast. Spelling beesenliven Brookhaven. Circuit court in Rankin this week. Senatobia has 78 business houses. There are only set wet counties. Magnolia has Bible study school. Biloxis visited by Mormon elders. Judge Cayee is decidedly popular. Poor fruit is marketed in Grenada. Clock peddlers are doing the State. Brandon had a hailstorm last week. Brandon sports a new livery stable. Bridge builders are busy in Jasper. Hay is making while the sun shines. Incendiary fiends bother Greenville. Gloster has 50 pound water melons. Pass Christian regatta on the 26th. Bicycles are "a sight" in Columbia. The cotton worm is in Clay county. Friar's Point chickens have cholera. Chicken thieves flourish at Meridian. Ellisville arrests train-jumping boys. The first bale of cotton is about due. Too much rain in South Mississippi. Peaches 10c a bushel at Yazoo City. Fights are frequent in Smith county. The editors go to Chicago next week. Heavy dews full in North Mississippi. Some horse thieves in Rankin countr. Indians and negroes fill Neshoba's jail. Yazoo City complains of dull business. Winston county has a mammoth cave. Editor Hulf and bride visited Chicago. The festive water-melon is about gone. Grenada grand jary found 9 true bills. Steamboats are plying the Tombigbee. Snuff-dipping is practiced in Winston. Lightning struck the Union courthouse. Hon. W. R. Morrison visited Columbus. Hattiesburg has a matrimonial society. W. C. Worthington, Columbus, is dead. The Brandon Call is lively young 'un. Young men are scaree in Bay St. Lonis. The Tupelo Journal wants a rabbit foot. Vicksburg enjoys fish-frys and baseball. Starkville wageth war on worthless dogs. Certified checks are the thing nowadays. Baseball amounts to a craze in the delta. Starkville's bank has resumed business. A Union co. white cap is penned for life. The penitentiary officials are catching it. Coast hotels report satisfactory business. Meridian builds a $50,000 Masonie temple, It'll soon be "books" with school children. Ten Lawrence white caps were sentenced. A change in the jury system is advocated. Horseback riding is popular in Senatobia. The Jackson Grocery Company has failed. The Paulding Review continually improves. Meridian defeated another whisky petition. Cotton seed convention at Fayette on 19th. A bull gored to death an Independence man. Col. J. D. Bills wants the Corinth postoflice. Sweet potatoes ripe. Where's the 'possum It has rained on North Mississippi drougth. The Oxford Globe cusses deadbeat readers. Dr. W. G. Sykes, of Aberdeen, has been appointed receiver of the Starkville First National Bank. The Illinois Central shops at McComb City, have for the present suspened about one hundred hands. Woodville used to have a mayor who would get on a spree and the next day open court and fine himself. Judge Wood, of the State Supreme Court, and Miss Marks, of Dallas, Texas, were recently married. The Brandon Call says the plumed crest of Mississippi's next Governor already looms above the horizon of the future. And he's a young Democrat too. The Walthall Warden editor is going to the World's Fair in September, and wants some kind of a clamp to keep his mouth shut 80 be won't eatch so many gnats. A Greenville man set a loaded gun trap to eatch a chicken thief, and he forgot it when he entered the hen house so there was a funeral next day. He caught the load in his stomach and died soon afteward. Some Jackson society people raided a Rankin county water melon patch. The farmer slipped up and took possession of their conrevances, and refused to deliver until they had paid $1 for every melon eaten and destroyed by them. Capt. T.D. Harris tells a Brandon Call man that he has seen over 100 drunken men in the court square there at one time. When be was marshal in 1857, the V. & M. road had about 1200 Irishmen employed, encamped near there, and one Saturday there were 80 many drunken men cursing and making mischief on the streets that before night he had the jail and calaboose full, and had nine chained to a china tree near the court house.

10. August 24, 1893 Iuka Reporter Iuka, MS
Article from Iuka Reporter, August 24, 1893

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STATE NEWS. Sardis has a cooking club. Mormon elders are preaching in Bilox.i' Lee county will soon hold a special election. September 25th, for County Treasurer. The Illinois Central have laid off one hundred men at their shops at McComb. In Chickasaw and Clay counties the army and boll worms are getting in their work. The increase of business caused the Boomville cannery to employ fifty more girls. Price Chishalm, one of the white caps tried in New Albany, was sentenced to the penitentiary for life. In Calhoun, Lafayette, Pontotoc and Chickasaw counties, the popular order the Grange is being revived. Dr. W. G. Sykes, of Aberdeen, has been appointed receiver of the First National Bank at Starkville. The colored Baptists of this State number 185,000, but during their revival meetings there seems to be several millions. Mr. Lee McMillan, of Carroll county, has been appointed Bill clerk of the document room. at Washington, D. C., at $1.400 a year. Attorney-General Johnson decides that Boards of Supervisors cannot change the assesment of lands in general. The Woodville Courier has changed hands. Schloss and Johnson retiring, and McGehee and Lewis assuming control. The state Board of health met at Jackson and quarentined against persons and baggage and freight from Pensacola Florida. Hon. David Johnson, of Itawamba county has received an appointment at Washington city as an official of the sergant at Arms Department, at a salary of $1,400. The Jackson banks have adopted the certified check system. The Vicksburg banks have adopted the same system, and will not cash checks for more than fifty dollars. George+Herndon, an Aberdeen boy, has patented a valuble process for making shoes which greatly decreases the cost. A company has been formed and capitalized at $500,000 to use the patent.

11. May 8, 1894 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, May 8, 1894

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Telegrams Made Terse. The Abbott-Bowen fight at New Orleans yesterday was declared a draw. The Griffo-Murphy fight at Boston last evening was won by Griffo in the eighth round. The stated Treasury balance at Washington yesterday was $123,518,000, of which $95,460,000 was in gold. The strikers have gained their point of a complete shut-down in the Connellsville (Pa.) coke region. The Comptroller of the Currency has declared a first dividend of 30 per cent. in favor of creditors of the First National Bank of Starkville, Miss. There was serious rioting in Vienna, Austria, yesterday upon the part of striking builders' laborers. Several men were wounded and seven arrests were made. The disquieting news from Central America and South America has caused the Navy Department to assign several ships to localities where American Interests may ba endangered through prospective hostilities. The trial of the Commonwealers. Coxey, Browne, and Jones, charged with violating May 1st the act regulating the use of the Capitol ground. at Washington, was continued yesterday, Coxey himself being one of the witnesses examined. The striking miners at Whitwell, Tenn., having been given notice to take their tools out of the mines and to vacate the property, some of them are leaving the town. Two hundred convicts have been put into the mines at Tracy City. The Supreme Court of South Carolina yesterday heard the Florence injunction and habeas corpus cases, which are designed to kill the dispensary law of 1893, and to settle the question of prohibition or free liquor, and announced that it would render its decision to-day. Another severe shock of earthquake was felt at Athens and in the Talante District, Greece, yesterday. Passengers on board a steamer traversing the straits state that they distinctly saw the earth trembling to such an extent as to cause part of the fortifications of Chaleis to fall. A special from Knoxville, Tenn., says: Attorneys for the employees of the East Tennessee, Virginia, and Georgia railroad system filed in the United States Circuit Court here to-day a bill restraining the receivers of the road from reducing salaries 10 per cent., as was announced for. May 1st. The case will be heard before Judge Lurton, in Cincinnati, May 15th. A special from Birmingham, Ala., says: A mob numbering from 200 to 500 went to Price's mines at Horse Creek Sunday night, blew up the bollers and other mine machinery with dynamite, and fired 100 shots into the company's store and houses. No one was hurt. The mob then went to Victoria mines, and blew up several freight cars loaded with coal, and turned others loose down the mountain, wrecking them. Great excitement prevails in the county, and Governor Jones has been appealed to for protection.