State Trust Company (Wilmington, NC)

Episode Information

Episode UID
6308493891360
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
630849389 hash
Start Date
April 29, 1913
Location
Wilmington, North Carolina (34.226, -77.945)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
eaae8ba960824066

Response Measures

None

Description

Articles state the corporation commission put the concern out of business for conspiracy to defraud; OCR shows both State and States Trust variants.

Events (2)
1. April 29, 1913 Receivership
Newspaper Excerpt
C. W. Stacy, of Wilmington, ... has been made receiver for the State Trust company, the receivership being on application of Charles Ross ... Judge Frank Carter named Charles Ross of Lillington as receiver for the States Trust Company, the Wilmington concern ... the corporation commission charges with conspiracy to defraud.
Source
newspapers
2. April 29, 1913 Suspension
Cause
Government Action
Cause Details
North Carolina Corporation Commission put the company out of business for conspiracy to defraud in formation of country banks.
Newspaper Excerpt
the States Trust company, Wilmington, had opened before the corporation commission put the concern out of business on the ground that there was conspiracy to defraud.
Source
newspapers

Newspaper Articles (2)
1. April 30, 1913 The Richmond Virginian Richmond, VA
Article from The Richmond Virginian, April 30, 1913

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Article Text

MOSER IS NAMED BANK EXAMINER RALEIGH, N. C., April 29.-D. M. Moser has been appointed receiver for the Bank of Claremont, Catawba county one of the four banks that the States Trust company, Wilmington, had opened before the corporation commission put the concern out of business on the ground that there was conspiracy to defraud. C. W. Stacy, of Wilmington, and not Charles Ross. of Hamlet, has been made receiver for the State Trust company, the receivership being on application of Charles Ross, who is receiver for the Bank of Angier, one of the chain of banks closed.

2. May 1, 1913 The Review High Point, NC
Article from The Review, May 1, 1913

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Article Text

FOR THE STATE TRUST COMPANY HOPE TO FIND SOMETHINGASSETS INVISIBLE. THE SMITH CHASE WRONG Alabama Authorities Refuse Extradition, Wishing to Try Banker on Charge of Embezzlement Within Borders of That State. Raleigh.-Judge Frank Carter named Charles Ross of Lillington as receiver for the States Trust Company, the Wilmington concern that the corporation commission charges with conspiracy to defraud in the formation of country banks in many sec toins of the state. Mr. Ross is already receiver for the Bank of Angier, one of the chain of banks of the State Trust Company was organizing. The petitioners for the receivership are business men who have subscribed to stock in the company. The office in Wilmington has been found to have only an old typewriter, quantities of very pretentious stationery and the poorest lot of office furniture in an obscure back room. The receivership is named in the hope of finding some assets somewhere, rather than to take charge of anything worth while now to exist. It now develops that North Carolina cannot extradite Ector E. Smith, president of the States Trust Company after all the effort and stir that has been made to this end. A letter came to Governor Craig from the governor of Alabama to the effect that since the order was made a week ago honoring North Carolina's requisition for Smith, it has been found that there is a charge of embezzlement against him in Jefferson county, Ala., and that Smith must be held in Alabama awaiting the action of the Jefferson county court. The habeas corpus hearing that thwarted North Carolina officers in bringing him back last Monday was set for hearing Monday of next week and Attorney General Bickett was leaving for Alabama with Solicitor Norris to make the fight for the extradition, but this action in holding up the requisition stops the whole matter indefinitely.