gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d7b20df55de69640
Response Measures
None
Description
Court injunction and state actions led to receivership and effective winding up; supreme court found contracts usurious/fraudulent.
Events (3)
1.November 17, 1910Suspension
Cause
Government Action
Cause Details
State filed injunction to restrain the company from doing business; chancellor named a receiver and enjoined operations pending appeal.
Newspaper Excerpt
INJUNCTION AGAINST TRUST COMPANY GIVEN Jackson, Miss., November 17.-(Special.) Chancellor Lyell has granted the injunction asked for by the state to restain the Jackson Loan and Trust company doing business. F. M. West is named as receiver, under $10,000 bond...
Source
newspapers
2.November 25, 1910Receivership
Newspaper Excerpt
RECEIVER FOR TRUST CO. Court Holds That Its Transactions Are Contrary to Law. Jackson.-After having sat for four days hearing testimony ... the court appoints Fred M. West of Jackson as receiver ... the transactions are contrary to law and the public policy of the state, as well as the charter franchise.
Source
newspapers
3.July 4, 1911Other
Newspaper Excerpt
Loan Contracts Void Jackson, Miss., July 3.-In a decision rendered here the state supreme court held that the loan form contract written by the Jackson Loan and Trust company ... is fraudulent and usurious, and the company should be forced to quit business. ... reversal was ordered on the appointment of a receiver (technical grounds).
Source
newspapers
Newspaper Articles (10)
1.July 1, 1910Macon BeaconMacon, MS
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Article Text
Must Settle Its Loans. Guthrie, Okla., June 29-Bank Commissioner C. B. Cockrell today sent a letter to the Jackson Loan and Trust Company of Jackson, Miss., advising that if the company does not immediately settle with policyholders and agents in Oklahoma, a receiver will be appointed. More than 200 loan contracts have been made in Oklahoma, the cleints being promised certain returns after a number of monthly instalments have been paid. The bank commissioners has more than a hundred complaints from person over the state, who have received no returns. W. H. Coyle of Guthrie is on a $100,000 bond for the Company in Oklahoma. It withdrew from the state several months ago, without making statements with some of its contract holders and agents.
2.November 18, 1910The Birmingham Age-HeraldBirmingham, AL
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Article Text
INJUNCTION AGAINST TRUST COMPANY GIVEN Jackson, Miss., November 17.-(Specitl.) Chancellor Lyell has granted the injuction asked for by the state to restain the Jackson Loan and Trust company doing business. F. M. West is named as receiver, under $10,000 bond, and meantime the case may be appealed to the supreme court. The chancellor agrees that the company may give bond in the sum of $15,000 and continue business without a receiver. The company has been doing a great business it appears, but frequent complaints came to the attorney general that purchasers of certificates were unable to secure loans. It is not found to be insolvent, but the chancellor finds it is not operated according to its charter provisions.
3.November 25, 1910The Grenada SentinelGrenada, MS
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Article Text
RECEIVER FOR TRUST CO. Court Holds That Its Transactions Are Contrary to Law. Jackson.-After having sat for four days hearing testimony and arguments in the case of the state of Mississippi against the Jackson Loan & Trust Company, being an injunction asked for by the attorney.general to restrain the concern from carrying on business ending investigation by a receiver, Chancellor Lyell rendered a decree sustaining the motion of the state for a receiver, and denying the motion of the defendant to dismiss the bill of injunction. The court held that while the concern is not shown to be insolvent, an examination of the contracts made and entered into with customers satisfies it that the transactions are contrary to law and the public policy of the state, as well as the charter franchise. The court appoints Fred M. West of Jackson as receiver to furnish bond in the penal sum of $10,000, and meanwhile grants a supersedeas appeal to the supreme court in order to settle the principles of the case. The appeal bond is fixed at $1,000 and the defendant given ninety days in which to perfect the appeal.
4.December 5, 1910The Hattiesburg NewsHattiesburg, MS
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Article Text
HOME BUILDERS COMPANY. Jackson Company Put Into the Hands of a Receiver by the Chancellor. Jackson, Dec. 5.-Chancellor G. - G. Lyell has appointed Fred M. West receiver for the Interstate Home Builders Company, a corporation or concern which has been discovered to be a subsidiary to the Jackson Ioan and Trust Company, which by the direction of the court, on the application of the attorney general a few weeks ago, was placed in the hands of a receiver and its charter declared forfeited, owing to non-compliance with the provisions thereof. The writ is made returnable before the chancellor in vacation next Thursday.
5.April 25, 1911The Birmingham Age-HeraldBirmingham, AL
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Article Text
JACKSON BANKERS CHARGED WITH FRAUD Jackson, Miss., April 24.-(Special.)--J W. Crisler and F. A. Ward, officers of the Jackson Loan and Trust company, have been arrested here on indictments returned by the Oklahoma federal court at Guthrie, charging them and M. O. Bounds, manager of the Oklahoma branch. with using the mails to defraud. Both men will be released on $5000 bonda to secure their attendance on the federal court at Enid in June. Recently the Mississippi courts placed the affairs of the company in the hands of a receiver under ouster proceedings, and on the charge of doing business contrary to charter privileges.
6.July 4, 1911The Birmingham Age-HeraldBirmingham, AL
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Article Text
Loan Contracts Void Jackson, Miss., July 3.-In a decision rendered here the state supreme court held that the loan form contract written by the the Jackson Loan and Trust company of this city, is fraudulent and usurious, and the company should be forced to quit business. The concern has been operating extensively in several southern states. The ruling of Chancellor Lyells in the lower court was sustained on all points except the appointment of a receiver, and on this ground a reversal was ordered. It is estimated that the company has several hundred thousand dollars in outstanding contracts.
7.July 6, 1911The Bamberg HeraldBamberg, SC
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Article Text
Loan Contracts Usurious. Jackson, Miss., July 3.-In a decision rendered here to-day the State supreme court held that the loan form contract written by the Jackson Loan and Trust company of this city is fraudulent and usurious, and the company should be forced to quit business. The concern has been operating extensively in several Southern States. The ruling of Chancellor Lyell in the lower court was sustained on all points except the appointment of a receiver, and on this ground a reversal was ordered. It is estimated that the company has several hundred thousand dollars in outstanding contracts.
8.July 13, 1911Okolona MessengerOkolona, MS
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Article Text
LOAN CONCERN A FA&E. Career Jackson Loan and rust Company Nears End. Jackson.-The career of the Jackson Loan and Trust Company, a corporation which has been operating among the poorer class of people of the state, has been practically ended by a sweeping decision rendered by the Mississippi supreme court. The case was an appeal from the chancery court of the Fourth district of Hinds county, from a decree of Chancellor G. G. Lyell, holding that the contracts written by the company to be contrary to public policy. The court denounces the whole scheme and operative plan of the company as one to mislead and defraud the unwary. The chancellor held that a receiver should be appointed, but allowed bond to be given by the company in lieu of a receiver, and enjoined the company from doing further business pending the hearing by the supreme court. The court affirmed the decision of the chancellor on the main proposition, though the case is technically reversed for the reason, as given by the court, that Mississippi has no statute authorizing the appointment of a receiver in a suit by the state to wind up the affairs of a corporation.
9.July 14, 1911Greene County HeraldLeakesville, MS
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Article Text
LOAN CONCERN A FAKE. Career Jackson Loan and rust Company Nears End. Jackson.-The career of the Jackson Loan and Trust Company, a corporation which has been operating among the poorer class of people of the state, has been practically ended by a sweeping decision rendered by the Mississippi supreme court. The case was an appeal from the chancery court of the Fourth district of Hinds county, from a decree of Chancellor G. G. Lyell, holding that the contracts written by the company to be contrary to public policy. The court denounces the whole scheme and operative plan of the company as one to mislead and defraud the unwary. The chancellor held that a receiver should be appointed, but allowed bond to be given by the company in lieu of a receiver, and enjoined the company from doing further business pending the hearing by the supreme court. The court affirmed the decision of the chancellor on the main proposition, though the case is technically reversed for the reason, as given by the court, that Mississippi has no statute authorizing the appointment of a receiver in a suit by the state to wind up the affairs of a corporation.
10.January 23, 1913The Birmingham Age-HeraldBirmingham, AL
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Article Text
JACKSON CITIZENS GOING TO OKLAHOMA Several Summoned to Testify in Government Suit Tomorrow y Jackson, Miss., January 22.-(Special.) Several prominent citizens of Jackson have been summoned to appear as witnesses before the federal-court at Guthrie, Okla., January 24, in the case of the United States vs. C. F. Crisler and F. A. Ward of Jackson and R. O. Bonds of Oklahoma, who are charged with fraudulent use of the mails. Crisler was president and the others officers of the Jackson Loan and Trust company, a Mississippi corporation that did business all over the United States and which went into the hands of a receiver a year or more ago, on ouster proceedings institu-
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