Article Text
Bank Suspends. Albany, Ga., Jan. 17.-The Com mercial bank did not open today. It suspended payment pending action of the state authorities on its application for a receiver. Its assets are said to be $191,000; liabilities, $123,000,
Commercial Bank (Albany, GA)
Episode Information
- Episode UID
3970512091225- Episode Type
- Run → Suspension → Closure
- Bank Type
- state
- Bank ID
-
397051209hash - Start Date
- January 17, 1902
- Location
- Albany, Georgia (31.579, -84.156)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
45f3a956780ed189
Response Measures
None
Description
Temporary receiver appointed; later business-failures lists treat the bank as failed.
Events (3)
1.
January 17, 1902
Receivership
- Newspaper Excerpt
- On application of the Board of Directors, Judge W. N. Spence has appointed Morris Weslosky temporary receiver of the institution.
- Source
- newspapers
2.
January 17, 1902
Run
- Cause
- Bank Specific Adverse Info
- Cause Details
- A quiet month-long run with deposits falling from nearly $100,000 to about $58,000 and inability to meet clearing-house checks.
- Measures
- Directors sought appointment of a temporary receiver; applied to state court.
- Newspaper Excerpt
- The suspension of the Commercial Bank was the result of a quiet run which had been in progress for nearly a month past
- Source
- newspapers
3.
January 17, 1902
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Bank suspended payment after being unable to meet its checks and following sustained withdrawals; directors filed for a temporary receiver.
- Newspaper Excerpt
- The bank has suspended payment, pending action by the proper authorities.
- Source
- newspapers
Newspaper Articles (18)
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Article Text
Receiver Asked for a Bank. Albany, Ga., Jan. 17.-Application for a temporary receiver has been filed by the directors of the Commercial Bank of Albany. The bank did not open for business today. Liabilities were estimated at $123,000; assets, $191,000.
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Article Text
ALBANY BANK CLOSES Commercial Instituion With Heavy Liabilities and Assets Suspends. Albany, Ga., Jan. 17.-The Commercial bank closed its doors today. The liabilities are $125,000, assets $191,000.
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ALBANY BANK SUSPENDS. The Commercial Unable to Meet Its Checks-Assets Far in Excess 01 Liabilities. Albany, Ga., Jan. 17.-The Commercial Bank of Albany failed to open its doors at the usual hour this morning, and the following notice appeared posted at the door, where it had been placed during the night: "The bank has suspended payment, pending action by the proper authorities. T. M. Carter, president. S. G. Turner, cashier." The suspension of the Commercial Bank was the result of a quiet run which had been in progress for nearly a month past, during which time the deposits had fallen from nearly a hundred thousand to about fifty-eight thousand dollars. Yesterday in the clearing house the balance was heavily against the Commercial in favor of the other banks of the city, and it had to acknowledge inability to meet its checks. The directors were in session all during the afternoon and up to a late hour last night, and it was hoped that arrangements could be made whereby the bank could carry on its business as usual, but it was finally decided that to suspend payment would be the wisest course. To your correspondent an official of the bank gave the following statement to-day: The assets consist of bills receivable to the value of $170,722.75, and real estate worth $21,000. a total of $191,722.75. Liabilities due depositors, $58,117.16 (of which $33,000 was held subject to check), and bills payable outstanding amounting to $65,000, a total of $123,117.10. From these figures it is seen that the assets are $68,505.65 in excess the liabilities. During the last thirty days the bank has redeemed $38,000 of its bills payable. It is believed that the depositors will be paid in full. On application of the Board of Directors. Judge W. N. Spence has appointed Morris Weslosky temporary receiver of the institution. The Commercial Bank has a capital of $79,000, and was organized in 1888. T. M. Carter is president. S. G. Turner cashier, and N. R. Dehon, assistant cashier.
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Article Text
Georgia Bank Fall. Albany, Ga., Jan. 17.-The Commercial bank of Albany has suspended payment pending the appointment of a receiver.
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A Georgia Bank Quits. Albany, Ga., Jan. 18.-An application for a temporary receiver has been filed by the directors of the Commercial bank of Albany. The bank did not open for business. The liabilities of the bank are estimated at $123,000, with assets of $191,000 in bills receivable and real estate.
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Article Text
An application for a temporary receiver has been filed by the directors of the Com. mercial Bank of Albany, Ga.
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Article Text
ALBANY BANK SUSPENDS AFTER RUN OF A. MONTH ALBANY, Ga., Jan. 17.-The Commercial bank of Albany did not open for business this morning and a notice posted on the door stated the bank had suspended payment pending action by proper authorities. A quiet run had been going on for one month past and the bank was yesterday unable to meet its checks in the clearing house. The bank's capital was $79,000, reduced from $100,000, and notice had been given that it would be converted into a national bank. The liabilities are bills payable, $65,000; deposits, $58,117.10. Assets are estimated at $170,000 in bills receivable and $21,000 in real estate. It seems certain that depositors will be fully paid. The directors have applied to Judge Spence to have Morris Weslosky appointed temporary receiver pending action of the state authorities. The bank was organized in 1888. The bank's officers are: T. M. Carter, president: S. G. Turner. cashier, and T. M. Carter, R. E. Carter, M. Weslosky, John Mock, H. N. Parker, W. W. Pace, T. N. Woolfolk, S. G. Turner, directors. While the failure of the Commercial bank has created considerable excitement here, there is a general feeling that the depositors will be paid dollar for dollar. The honesty and integrity of the officers of the bank are not questioned, and this has done a great deal to lease the situation.
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Article Text
Georgia Bank Closes. Albany, Ga., Jan. 17.-An application for a temporary receiver was filed by the directors of the Commercial bank of Albany and the bank did not open for business today. The liabilities are estimated at $123,000; assets, $191,000.
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Article Text
Georgia Bank Closes. Albany, Ga., Jan. 17.-An application for a temporary receiver was filed by the directors of the Commercial bank of Albany and the bank did not open for business today. The liabilities are estimated at $123,000; assets, $191,000.
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Article Text
Bank at Albany, Ga., Suspends. An application for a temporary receiver has been filed by the directors of the Commercial Bank of Albany, Ga. The liabilities of the bank are estimated at $123,000, with assets of $191,000.
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Article Text
BUSINESS FAILVRES. Jan. 10-Cleveland, 0., Euclid Trust & Savings Co.; $1,500,000. 11-Painesville, 0., People's bank; $173,000. 14-Chicago, Geo. H. Phillips, "corn king," fails for second time in 7 months. 17-Albany, Ga., Commercial bank; $123,000. 28-Bellwood, Neb., Platte Valley state bank. Feb. 10-Detroit, Mich., City savings bank, on account of shortage of Vice President Frank C. Andrews. 25.-Belmont (0.) national bank. 26-Burnett, Tex., private bank of W. H. Westfall & Co. Mar. 3-Elkhart, III., State bank. 15-Wanatah, Ind., Julius Conitz, banker. 20-Americus, Ga., People's bank; $30,000. Apr. 4-St. Paul, U. S. Saving & Loan Co.; $800,000. 24-Algonac (Mich.) Banking Co.'s bank; $32,000. Jun. 3-Chicago, John A. & Alexander Davidson, marble contractors; $1,391,838. 13-Charleston (S. C.) Exposition Co., placed in receivers' hands; $450,000. 30-Murdock, Neb., German state bank; $37,000. Jul. 3-New York city, M. P. Anderson, real estate operator; $1,535,212. 29-Brooklyn, N. Y., Malcolm Brewing Co.; $800,000. Aug. 16-Elgin, Ill., Obadiah Sands Butter corporation, $445,000. 20-Cleveland, O., Forward Reduction Co., booming Texas oil; $500,000. 24-Elnora (Ind.) bank; $10,000. Sep. 2-New York, American bicycle trust. Oct. 7-Oto, Ia., bank of F. H. Cutting & J. T. Willett: $20,000. 16-New York, Gillman, Son & Co's banking house; $200,000. Nov. 5-Richmond, Va., Leon L. Strause, leaf tobacco; $300,500. 13-Boston. Central national bank. Dec. 8-Omaha, W. H. Bennett Co.'s. department store.
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BUSINESS FAILVRES. Jan. 10-Cleveland. O., Euelid Trust & Savings Co.: $1 1,500,000. II-Painesville, O. People's bank: $173,000 Chirago, Geo. H. Phillips, "corn king, falls for second time in 7 months. 17-Albany, Ga., Commercial bank: $123,000 2-Bellwood. Neb., Platte Valley state bank Feb. 10-Detroit, Mich. City savings bank. on account of shortage of Vice President Frank c. Andrews Il-Belment (0) national bank Burnett Tex., private bank of W. R. Westfall & Co. Mar. 1-Elkhart, III., State bank. II-Wanatah Ind., Julhia Center banker. Americus, Ga., People's bank: $30,000. Apr 4-BL Paul, U. S. Saving & Loan Co.: $800,000. N-Algonaç (Mich.) Banking Co.'s bank; $32,000 Jun. 3-Chicago, John A. & Alexander Davideen. marble contractors $1,891,888. II-Charlesten (S. C.) Exposition Co., placed in receivers' hands: $450,000. as Murdeck, Neb., German state bank: $37,000 Jul. -New York city, M. P. Anderson, real estate operator; $1,580,242 20-Brooklyn. N. X4 Malcolm Brewing Co.: $800.000. Allg 16-Elgin, IIL. Obadlah Bands Butfor corporation, $445,000. 20-Clayeland, O., Forward Reduction Co., beening Texas all: $500.000. 24 Kloora (Ind) bank $10.000. step -New York American bioycle trust. -Treaton. N. In National Balt Ca sell $800,000.
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BUSINESS FAILVRES. Jan. 10-Cleveland, O., Euclid Trust & Savings Co.; $1,500,000. 11-Painesville, O., People's bank; $173,000. 14-Chicago, Geo. H. Phillips, "corn king," fails for secona time in 7 months. 17-Albany, Ga., Commercial bank; $123,000. 28-Bellwood, Neb., Platte Valley state bank. Feb. 10-Detroit, Mich., City savings bank, on account of shortage of Vice President Frank C. Andrews. 25.-Belmont (0.) national bank. 26-Burnett, Tex., private bank of W. H. Westfall & Co. Mar. 3-Elkhart, Ill., State bank. 15-Wanatah, Ind., Julius Conitz, banker. 20-Americus, Ga., People's bank; $30,000. Apr. 4-St. Paul, U. S. Saving & Loan Co.; $800,000. 24-Algonac (Mich.) Banking Co.'s bank; $32,000. Jun. 3-Chicago, John A. & Alexander Davidson, marble contractors; $1,391,838. 13-Charleston (S. C.) Exposition Co., placed in receivers' hands; $450,000. 30-Murdock, Neb., German state bank; $37,000. Jul. 3-New York city, M. P. Anderson, real estate operator; $1,535,212. 29-Brooklyn, N. Y., Malcolm Brewing Co.; $800,000. Aug. 16-Elgin, Ill., Obadiah Sands Butter corporation, $445,000. 20-Cleveland, O., Forward Reduction Co., booming Texas oil; $500,000. 24-Elnora (Ind.) bank; $10,000. Sep. 2-New York, American bicycle trust. Oct. 7-Oto, Ia., bank of F. H. Cutting & J. T. Willett; $20,000. 16-New York, Gillman, Son & Co's banking house; $200,000. Nov. 5-Richmond, Va., Leon L. Strause, leaf tobacco; $300,500. 13-Boyton. Central national bank. Dec. 8-Omaha, W. H. Bennett Co.'s. department store.
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BUSINESS FAILVRES. Jan. 10-Cleveland. O., Euclid Trust & Savings Co.; $1,500,000. 11-Painesville, O., People's bank: $173,000. 14-Chicago, Geo. H. Phillips, "corn king," fails for second time in 7 months. 17-Albany, Ga., Commercial bank; $123,000. 28-Bellwood, Neb., Platte Valley state bank. Feb. 10-Detroit, Mich., City savings bank, on account of shortage of Vice President Frank C. Andrews. 25.-Belmont (O.) national bank. 26-Burnett, Tex., private bank of W. H. Westfall & Co. Mar. 3-Elkhart, III., State bank. 15-Wanatah, Ind., Julius Conitz, banker. 20-Americus, Ga., People's bank; $30,000. Apr. 4-St. Paul, U. S. Saving & Loan Co.; $800,000. 24-Algonac (Mich.) Banking Co.'s bank; $32,000. Jun. 3-Chicago, John A. & Alexander Davidson, marble contractors; $1,391,838. 13-Charleston (S. C.) Exposition Co., placed in receivers' hands; $450,000. 30-Murdock, Neb., German state bank; $37,000. Jul. 3-New York city, M. P. Anderson, real estate operator; $1,535,212. 29-Brooklyn. N. Y., Malcolm Brewing Co.; $800,000. Aug. 16-Elgin, III., Obadiah Sands Butter corporation, $445,000. 20-Cleveland, O., Forward Reduction Co., booming Texas oil; $500,000. 24-Elnora (Ind.) bank: $10,000. Sep. 2-New York, American bicycle trust. Oct. 7-Oto. Ia., bank of F. H. Cutting & J. T. Willett: $20,000. 16-New York, Gillman, Son & Co's banking house: $200,000. Nov. 5-Richmond, Va., Leon L. Strause, leaf tobacco; $300,500. 13-Boston, Central national bank. Dec. 8-Omaha, W. H. Bennett Co.'s. department store.
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BUSINESS FAILVRES. Jan. 10-Cleveland, O., Euclid Trust & Savings Co.; $1,500,000. 11-Painesville, O., People's bank: $173,000. 14-Chicago, Geo. H. Phillips, "corn king," fails for second time in 7 months. 17-Albany, Ga., Commercial bank; $123,000. 2S-Bellwood, Neb., Platte Valley state bank. Feb. 10-Detroit, Mich., City savings bank, on account of shortage of Vice President Frank C. Andrews. 25.-Belmont (O.) national bank. 26-Burnett, Tex., private bank of W. H. Westfall & Co. Mar. 3-Elkhart, III., State bank. 15-Wanatah, Ind., Julius Conitz, banker. 20-Americus, Ga., People's bank: $30,000. Apr. 4-St. Paul, U. S. Saving & Loan Co.: $800,000. 24-Algonac (Mich.) Banking Co.'s bank; $32.000. Jun. 3-Chicago, John A. & Alexander Davidson, marble contractors; $1,391,838. 13-Charleston (S. C.) Exposition Co., placed in receivers' hands; $450,000. 30-Murdock, Neb., German state bank; $37,000. Jul. 3-New York city, M. P. Anderson, real estate operator; $1,535,212. 29-Brooklyn, N. Y., Malcolm Brewing Co.; $800,000. Aug. 16-Elgin, III., Obadlah Sands Butter corporation. $445,000. 20-Cleveland, O., Forward Reduction Co., booming Texas oil; $500,000. 24-Elnora (Ind.) bank: $10,000. Sep. 2-New York. American bicycle trust. Oct. 7-Oto. 1a., bank of F. H. Cutting & J. T. Willett: $20,000. 16-New York, Gillman, Son & Co's bank. ing house: $200,000. Nov. 5-Richmond, Va., Leon L. Strause, leaf tobacco: $300,500. 13-Boston Central national bank. Dec. 8-Omaha, W. H. Bennett Co.'s. department store.
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BUSINESS FAILVRES. Jan. 10-Cleveland, O., Euclid Trust & Savings Co.; $1,500,000. 11-Painesville, 0., People's bank; $173,000. 14-Chicago, Geo. H. Phillips, "corn king," fails for second time in 7 months. 17-Albany, Ga., Commercial bank; $123,000. 28-Bellwood, Neb., Platte Valley state bank. Feb. 10-Detroit, Mich., City savings bank, on account of shortage of Vice President Frank C. Andrews. 25.-Belmont (0.) national bank. 26-Burnett, Tex., private bank of W. H. Westfall & Co. Mar. 3-Elkhart, III., State bank. 15-Wanatah, Ind., Julius Conitz, banker. 20-Americus, Ga., People's bank; $30.000. Apr. 4-St. Paul, U. S. Saving & Loan Co.; $800,000. 24-Algonac (Mich.) Banking Co.'s bank; $32,000. Jun. 3-Chicago, John A. & Alexander Davidson, marble contractors; $1,391,838. 13-Charleston (S. C.) Exposition Co., placed in receivers' hands; $450,000. 30-Murdock, Neb., German state bank; $37,000. Jul. 3-New York city, M. P. Anderson, real estate. operator; $1,535,212. 29-Brooklyn, N. Y., Malcolm Brewing Co.; $800,000. Aug. 16-Elgin, III., Obadiah Sands Butter corporation, $445,000. 20-Cleveland, O., Forward Reduction Co., booming Texas oil; $500,000. 24-Elnora (Ind.) bank; $10,000. Sep. 2-New York, American bicycle trust. Oct. 7-Oto, la., bank of F. H. Cutting & J. T. Willett: $20,000. 16-New York, Gillman, Son & Co's banking house; $200,000. Nov. 5-Richmond, Va., Leon L. Strause, leaf tobacco; $300,500. 13-Boston. Central national bank. Dec. 8-Omaha, W. H. Bennett Co.'s. department store.
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BUSINESS FAILVRES. Jan. 10-Cleveland. O., Euclid Trust & Savings Co.; $1,500,000. 11-Painesville, O., People's bank: $173,000. 14-Chicago, Geo. H. Phillips, "corn king," fails for second time in 7 months. 17-Albany, Ga., Commercial bank: $123,000. 28-Bellwood, Neb., Platte Valley state bank. Feb. 10-Detroit, Mich., City savings bank. on account of shortage of Vice President Frank C. Andrews. 25.-Belmont (O.) national bank. 26-Burnett, Tex., private bank of W. H. Westfall & Co. Mar. 3-Elkhart, Ill., State bank. 15-Wanatah, Ind., Julius Conitz. banker. 20-Americus. Ga., People's bank: $30,000. Apr. 4-St. Paul, U. S. Saving & Loan Co.; $500,000. 24-Algonac (Mich.) Banking Co.'s bank; $32,000. Jun. 3-Chicago, John A. & Alexander Davidson, marble contractors; $1,391,838. 13-Charleston (S. C.) Exposition Co., placed in receivers' hands; $450,000. 80-Murdock, Neb., German state bank; $37,000. Jul. 3-New York city, M. P. Anderson, real estate operator; $1,535,212. 29-Brooklyn, N. Y., Malcolm Brewing Co.; $800,000. Aug. 16-Elgin, Ill., Obadiah Sands Butter corporation, $445,000. 20-Cleveland, O., Forward Reduction Co., booming Texas oil; $500,000. 24-Elnora (Ind.) bank: $10,000. Sep. 2-New York, American bicycle trust. 80-Trenton, N. J., National Salt Co. ("salt trust"); $300,000.