Farmers & Traders Bank (Atlanta, GA)

Episode Information

Episode UID
64001371519
Episode Type
Suspension โ†’ Closure
Bank Type
state
Bank ID
6400137 routing
Routing Number
64-0013
Start Date
July 12, 1926
Location
Atlanta, Georgia (33.749, -84.388)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
c4a99e84e96de0f4

Response Measures

None

Description

Contemporary reports state the Farmers & Traders Bank was closed in July 1926 and later subject of grand-jury/indictment actions; closure appears permanent.

Events (1)

1. July 12, 1926 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Grand-jury indictment alleges fraudulent insolvency and misconduct by bank officers (W. D. Manley); bank closed early in July during chain collapse tied to Bankers' Trust failure.
Newspaper Excerpt
allowed the Farmers and Traders Bank become fraudulently insolvent on July 12
Source
newspapers

Newspaper Articles (13)

Article from Brownsville Herald, July 16, 1926

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HEAD OF BANK SHOOTS SELF J. R. Smith, Atlanta Financier, Found Dead in Home ATLANTA, Ga., July 16.-(A))-J. R. Smith. president of the Atlanta Real Estate Board and a director of the Bankers Trust Company, for which a receivership was designated in federal district court here yesterday, shot himself at his home in Morning-side. a suburb. early today. Mr. Smith was dead when found. The body was found by a servant. attracted by a shot. The door of Mr. Smith's room was locked and the servant broke it down with an axe. His daughter, Mrs. Julia Lifsey, was among the first to reach the body. The entire load of a shotgun had entered his abdomen. Belief was expressed that he fired the shot with his toe. Several letters found beside the body were turned over to the coroner who announced that an inquest would be held later in the day. Mr. Smith was a former member of the firm of J. R. Smith and W.S. Rankin Company. Later he had been connected with the Sylvan Hills and Morningside addition. In addition to having been a director of the Bankers Trust Company, he also was a director of the Farmers and Traders Bank of Atlanta, which was closed early this week.


Article from Greenfield Daily Recorder, July 16, 1926

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ATLANTA, Ga., July Smith, president of the Atlanta real estate board, and director the Bankers' Trust company for which receivership designated federal district court here yesterday shot himself at his home in Morningside, suburb, early today Mr. Smith was dead when found by servant attracted by shot. The door of Mr. Smith's room was locked and the servant broke it down His daughter, Mrs. Julia Lifsey, was among the first to reach the The load of shot gun entered his abdomen. Belief pressed that he fired the shot with Several letters found beside the body turned over the coronthat inquest probably would be held later in the Smith former member was the realty Smith and Rankin Company. Later he been connected the Sylvan Hills Morningside Development projects. In addition having been director the Bankers Trust company, he also was director of Farmers and Traders Bank Atlanta, which was closed early this The suicide came as climax to the bankruptcy proceedings against the Bankers Trust Company and the closing of 70 state banks, many which members chain 120 Georgia and Florida for which the Bankers Trust Company served financing agent. Today the Georgia State banking department that 13 additional banks have closed their doors Georgia and in Florida since yesterday. The closings brought the total number that have suspendoperations this week to 83 two states. The state banking department tributed their closings bankruptey proceedings of the Bankers Trust Petition for receivership was brought days ago in court here board receivers designated and temporary granted restraining officers of the company from ing in manner status of the banks. The petition was brought by the Bank of Umatilla. Florida.


Article from Daily Kennebec Journal, July 17, 1926

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# Director Involved # Atlanta Trust Co. # Commits Suicide Atlanta, Ga., July 16.-(AP)-J. T. Smith, president of the Atlanta Real Estate Board and a director of the Banker's Trust Company for which a receivership was designated in Federal district court here yesterday shot himself at his home in Morningside, a suburb, early today. Mr. Smith was dead when found. The body was found by a servant, attracted by a shot. The door of Mr. Smith's room was locked and the servant broke it down with an axe. His daughter, Mrs. Julia Lifsey, was among the first to reach the body. The entire lead of a shotgun had entered his abdomen. Belief was expressed that he fired the shot with his toe. Several letters found beside the body was turned over to the coroner, who announced that an inquest probably would be held later in the day. Mr. Smith was a former member of the realty firm of J. R. Smith and W. S. Rankin Company. Later he had been connected with the Sylvan Hills and Morningside development projects. In addition to having been a director of the Bankers' Trust Co., he also was a director of the Farmers' and Traders' Bank of Atlanta, which was closed early this week. The suicide came as a climax to the bankruptcy proceedings against the Bankers' Trust Company and the closing of seventy state banks, many of which were members of a chain of 120 in Georgia and Florida for which the Bankers' Trust Company served as financing agent. Today the Georgia State Banking department announced that 13 additional banks have closed their doors in Georgia and one in Florida since yesterday. The closing brought the total number that have suspended operations this week to 83 in the two states.


Article from The Miami News, August 14, 1926

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COURT HEARING IN MANLEY IS POSTPONED Boykin Seeks Delay Until Bank Receiver Plea Is Heard Aug. Hearing on petition for guardian for Manley, indicted Atlanta banker, set for today, was postponed by order of Judge John D. Humphries in superior court. The order application Solicitor John Boykin, asked for writ prohibition, delaying the guardianship hearing until Sept. two days receivers of the Bankers Trust Atlanta, which Manley president, will given hearing in federal court their petition require Manley turn over them all alleged assets $500,000. Judge Humphries will decide next Tuesday whether the writ of prohibition granted delay the guardianship hearing until Sept. Manley, who was indicted yesterday grand jury charge felony in connection with the closing recently the Farmers Traders Bank Atlanta, under $25,000 bond today. Sheriff Lowry said he had served warrant for Manley's arrest banker's Atlanta home last night and bond had been ranged. Manley's attorneys had reported that their was ill Milledgeville hospital. The petition whose hearing postponed today was filed by terson, Manley. Asking for guardian administer affairs the the petition alleged that Manley was mentally affairs. The grand jury which indicted Manley had investigating the closing Trust Atlanta, which followed by the closing 83 banks Georgia and The institution fiscal agent for the 83 banks.


Article from Tampa Bay Times, August 14, 1926

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Atlanta Banker Is Indicted on Felony Charges (Continued From Page One) lowed the closing of the parent The today charged that Manley allowed Farmers and Traders bank fraudulently on July last. The was signed Boykin. hearing on petition asking that appointed Manley's affairs schedordinary. This filed by Joe Patterson, alleged that the official incapacitatto conduct his own affairs. Manley further litigation result the bank's closing. Rethe Bankers Trust company Atlanta have filed petition court asking that Manley be required to the "personal The receivers charged that the banker withheld alleged assets with intent the This petition will heard September


Article from The Tampa Tribune, August 14, 1926

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ACTION FOLLOWS LENGTHY INQUIRY Jury Finds Accused Allowed Farmers Bank 'to Become Fraudulently Insolvent' ATLANTA, Ga., Aug. indictment charging was returned against Manley, of the Farmand Traders Bank, by the Fulton jury, investigated the closing of the bank. warrant was issued for the arrest Manley, whose reported in hospital at Milledgeville, Ga. Manley also president of the Bankers Trust This institution agent for banks Georgia followed the closing of the parent institution here. The indictment today charged that Manley allowed the Farmers Traders Bank fraudulentinsolvent' July 12, signed by Solicitor John Hearing Scheduled hearing asking that Manley's for suit, filed by Joe the bank official mentally incapacitated to conduct his Manley faces further litigation result the Trust Atlanta district court asking that Manley be turn the ceivers receivers charged defendant bankers withheld alleged assets with intent defraud the petition will be heard Lengthy Inquiry Today's action the grand jury lengthy body into the affairs ing which head. various of Georgia have questioned. The council of the Georgia Bankers' Association. meeting (Continued on Page 3)


Article from The Baltimore Sun, August 14, 1926

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BANK OF FELONY Fails, Kellogg's Callers Manley, President Of Two Institutions, Indicted By Grand PATIENT HOSPITAL Charged With Allowing One Of Concerns To Become Fraudulently Insolvent. Atlanta, Aug. 13 indictment charging felony returned late day against Manley, president the Farmers and Traders Bank by the Fulton county grand which investigated the recent closing the bank. warrant issued for the arrest of Manley, whose reported hospital Ga. Manley the BankTrust of Atlanta, This was fiscal agent for banks Georgia whose closing followed the closing the parent here. Guardianship Hearing Today. indictment charges Manley lowed the Farmers Traders Bank become fraudulently insolvent" July hearing on petition asking that guardian to administer Manley's affairs for tomorThis filed by Joe Patterson, Manley's alleged that the bank official incapacitated conduct own affairs. Receivers Suing For $500,000. Manley faces further litigation bank's closing. Receivers result the Bankers Trust Company Atlanta have filed petition Federal District Court asking that Manley required to turn over the ceivers assets" aggregating $500,000. The charged the banker withheld the leged assets intent defraud the institution's creditors. This petition heard September The action the grand jury today after lengthy inquiry body into the affairs of the two banking institutions which Manley head. number witnesses from various Georgia have been questioned. executive council of the Georgia Bankers' meeting here yesterday, adopted resolution asking Walker direct the Attorney General to in the investigation facts the closing of the Bankers Trust Company


Article from The Commercial Appeal, August 14, 1926

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HEAD OF BANK FACES FELONY CHARGE Manley, Reported III in Hospital, to Be Arrested. FRAUDS ARE ALLEGED President of Bank Whose Closing Led to Suspension of Business In 83 Smaller Banks Throughout ATLANTA, Ga., Aug. indictment charging a felony was returned late today against W. D. Manley, president of the Farmers and Traders Bank of Atlanta, by the Fulton County grand jury, which investigated the recent closing of the bank. warrant was issued for the arrest of Manley, whose attorneys reported he ill in a hospital at Milledgeville, Ga. Manley is also president of the Bankers' Trust Company of Atlanta, now in receivership. This institution fiscal agent for 83 banks in Georgia whose closing quickly followed the closing of the parent institution here. indictment today charged that Manley Bank licitor official July signed by John asking that before by Manley's that ficial mentally conduct his own Manley litigation Trust Atlanta have filed petition in court Manley turn the charged that the defendant banker assets tent the itors. This petition be heard Today's action of the grand came inquiry which number witnesses from various Georgia council Georgia Bankers' meeting adopted closing Bankers Trust Company Atlanta.


Article from The Herald-Sun, August 14, 1926

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GEORGIA BANKER IS INDICTED BY ATLANTA COURT W. D. Manley, President Defunct Trust Company, Is Charged With Felony WARRANT ISSUED FOR HIM Charge Is in Connection With The Handling of the Affairs Of the Farmers and Traders Bank: Trust Company Affairs Are Also Under Investigation felony returned late today against W Mauley of the and Traders Bank of Atlanta. by the Fulton grand which the recent clos of the bank. warrant was for the arrest of Manley he hospital at Ga. Manley Also president of the This stitution fiscal for 83 followed the closing of the parent The today charged that allowed the and Traders bank become on July last, signed Solicitor General Boykin hearing petition that to administer is sche for before an dinary This Suit. filed by Joe Pat Manley's leged that the bank mentally to conduct his own Manley faces further litigation result of the bank's Receivers Banker's Trust company of Atlanta have filed petition in federal district asking that Manley be made to turn over to the receivers sonal assets' aggregating The receivers charged that the defendant banker withheld the al leged with intent to de fraud the This petition will be heard Septem ber Today's action of the grand jury came after by that body into the affairs of the two banking of which Manley is head number of wit from parts of Goor been The executive council the of Georgia Bankers' meet asking Governor Walker to the of "all the facts the Bankers' Trust company of Atlan


Article from The Macon News, August 14, 1926

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Aug. 14. felony turned Friday against W. Manley, president Farmers' and Traders' Atlanta, Fulton jury. investigated the recent closing of the issued for the ported hospital Manley president of the Bankers' Trust Company Atlanta, in institufiscal agent banks Georgia folclosing of the parent inindictment Friday charged Manley allowed the Farmers' Traders' bank become fraudinsolvent" July official accusation signed by John hearing petition asking that guardian be appointed adminisManley's afafirs scheduled for ordinary. This suit, by Joe Patterson. Manley's alleged that the bank official incapacitated to conduct faces further litigation result the closing. Rethe Trust Comhave petition court asking Manley be required receivers that the defendant banker the alleged assete the credThis petition will be heard of the grand jury after lengthy inquiry that affairs the which Mannumber of witnesses various parts of Georgia have questioned. executive council the GeorBankers' association. meeting resolution Governor direct to the the facts surthe Bankers the full support of the the the "amazed and which closing of banks Georbetter than they


Article from The Macon Telegraph, August 14, 1926

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AGAINST W. D. MANLEY Warrant Issued For Arrest of Financier, III in Milledgeville OTHER LITIGATION PENDING Receivers of Defunct Bank Claim He Is Holding Out Half Million ATLANTA. Ga., Aug. 13. An indictment charging felony returned late today against W. Manley, president the Farmers and Traders Bank of Atlanta, by the Fulton grand jury, which vestigated recent closing of was issued for the arrest reported was ill in hospital Milledge- Manley is president also of Bankers Atlanta, 83 banks Georlosing quickly follow the closing of the parent institution The indictment today charged that Manley allowed the Farmers and become fraudulently insolvent" on July the official signed by Solicitor John Boykin. hearing petition asking that guardian Manley's affairs scheduled for morrow before an ordinary. This suit, filed Joe Patterson, Manleys' that the bank offiincapacitated to conduct his Suit for Assets Filed Manley faces further litigation as result closing. the Bankers Company filed petition Federal court here, that Manley be required turn asking to the "personal assets" gregating receivers charged that the defendant banker withheld alleged assets with intent defraud the creditors. This will be heard Sept. Today' action the came lengthy by that body the affairs banking of which Manley number witnesses from various of Georgia have been council of the Georgia Bankers' terday, adopted Walker direct the asking Attorney General investigation of the facts the Bankers' Trust ComAtlanta. the full support of the State the ecution parties." the council declared of the associawere "amazed and at which permitted the closing banks in Georgia time when Georgia are better than they have been in the past five years.


Article from Evening Star, August 18, 1926

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MANLEY GUARDIAN HEARING TO BE SOON Son-in-Law's Plea That Banker Is Mally Incapable to Be Considered August 23. By the Associated Press. ATLANTA, August 18.-Dissolving a temporary writ of prohibition against guardianship proceedings for W. D. Manley, indicted Atlanta bank. er, the Fulton County Superior Court has set August 23 as the date for hearing the guardianship request of Joe Patterson, Manley's son-in-law. who says the banker is mentally incapacitated. Solicitor General John A. Boykin of Fulton County. has opposed the guardianship proceedings on the ground that it was a move to take Manley from the jurisdiction of the Superior Court. Superior Judge Humphries. however, ruled that the hearing will not remove the banker from trial September 2 on an indictment for felony in connection with the recent closing of the Farmers' and Traders' Bank of Atlanta of which he was president. At the felony trial, receivers for the defunct Bankers' Trust Co. of Atlanta will present a petition to require Manley. head of the institution. to turn over to them alleged assets of $500,000. The Bankers' Trust Co. was fiscal agent for approximately 85 small banks in Georgia, which suspended operations following the bankruptcy proceedings of the Atlanta bank.


Article from The Tampa Times, September 2, 1926

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LIGHT. thought impossible that there could any longer of at least, in regard to the recent flurry which bowled over number Georgia and Florida banks that were links what stands revealed weak bank chain. held certain officers the defunct Bankers Trust company, which brought all the trouble, would not brought forward nesses what happened. has turned out In its issue of Aug. 26, the Banker, published New York and of the counoutstanding banking and nancial magazines, carried under an Atlanta date line this of officer of the BankTrust company" to why what happened did happen: Bankers Trust company and allied could have pulled through everything righted except Florida which was part responsible for the disruption of the rehabilita- would seem that the ida state chamber of commerce, the Florida Bankers' association, the other or both, should immediately take matter up the American Banker, to the end that the actual facts of this chapter our experiences shall set by that publication. There no doubting that the carrying that statement in the Banker calculated to do Florida great and altogether deserved harm. In meantime an Associated Press Atlanta terday calculated to shed great light upon this matter. said that the assistant solicitor general Atlanta circuit had asked the Georgia state banking department indictments against Manley, the head of the Bankers Trust company, in every Georgia county which he financed bank and, also, that this action closely followed the presentation to the Fulton county, Georgia, grand jury indictments against Manley and other officers of his bank. charging larceny after trust and that they allowed the Farmers and Traders Atlanta, member of the Bankers Trust chain, fraudulently insolvent during their ministration." Information also given this press dispatch named in these indictments are Manley, Adams, trustee: Paul Baker, and John Russell, assistant secretary and trustee the Farmers and Tradbank. Wonder grows if any these who the statement carried in the American Banker. something have defendant in criminal proceedings, possible defendant such proceedings, to forestall conviction in the courts by unloading their wrong before door of state. that the fact appears that Manley and his associates against whom indictments have been returned and against more indictments are being sought should illumine the whole far as arriving and what are responsible happened concerned. No thought any grand jury's dicting the state Florida business tertained. Officers the an almost invariable way going after those who the proof shows to guilty they criminal proceedings We rather upon the judgment the Atlanta solicitor general fixing the cause of the aster than upon all the statements which Manley any crowd make the columns the American Banker or for other columns. Florida doesn't deserve what the American Banker has done her by the publication referred She appreciate Whole and immediate should made have the American Banker the facts the Florida nothing fear from truthful setting forth these facts. no satisfaction to know that weather conditions in Kansas such are here out. Certainly regret to know that many farmers in Kansas who have depended upon this year have witnessed its total destruction and that much the Kansas not fit for fodder, which means whole year's work tirely lost. But weather conditions are what they are and, spite attempts men have made change them our opinion, always be beyond mortal control. impressed, however, the difference sas and Florida in regard weather crops. With abundance artesian water able, close the top of the ground, no Florida farmer need have his crops burned he the little trouble and not large expense necessary provide irrigation. Even those do to do without hope here. the such others can be in and harvest reached. Making from not an uncomthing with Florida farmers. This another of the things which make Florida most desiraplace for farming. OUR HIGH POINT. Hasn't been that class rush where angels fear tread? And that brings wonder what has come the Florida chamber commerce that has clared that old whether Mountain, Lake Wales, Mount Pleasant, Quincy, the highest point Florida must determined, and Herman Gunter, geologist, that he taking steps to determine just If perchance Mount Pleasant said the highest put the commerce and state geologist upon notice that they may expect Jack ington and his Lake Wales Highlander down upon them like the proverbial of brick. Should be that Iron Mountain said the highest that the rooters Mount Pleasant may be relied upon to perform similar capacity. Hasn't been said that better sleeping dogs sleep? But seems that the chamber of geologist are like almost else that they much learn. Then, too, source trouble looms. No made of the peaks of Pasco the eminences about Clermont. Carl Taylor Don Lochner haven't been heard from sign that they rather indication that biding while they sharpen their knives and load their guns, they may properly. By no stretch the imagination can conceived they will permit hills which they have diligently nursed, about and to which have sung much and long, When state chamof the state geologist emerge from they have invited they will probably repeating that less famous query: the thunder the cyclone As for shall not accept quietly finding which may be made that either Iron MounMount Pleasant the highest point in Florida. say that entry own, because know that the Dade City the Clermont Press will not let accept quietly. That they won't long Carl lor Don live and have aught with which trust will be long time. NEEDNT GET The suggestion. "made some quarters United that Canada handed country for cellation the British debt appears agitated Thomas, labor member the British parliament. There no necessity for the gentleman's excited. The United States Canada have much common. can foretell what future holds store the of relationship between the peoples? But whatever store will develop naturally, by reason of the tiguity and other mon interests. union eventually brought about doubt of the of annexation will have to be by common consent. Uncle be relied never want Canada unless wants Uncle Sam. can any little boy girl the class tell off hand, which one of the Florida republican parties that some candidates for county When death claimed W. yesterday, the city Tampa and this section of indeed the entire state, suffered civic loss great the personal sustained by and immediate friends. He long resident of Tampa, come here counsellor; good citizen; the valued friend of an exceedingly large number. Those are measurably acquainted with the facts know that much that has come to Tampa in the growth and progress builded upon foundations laid Beckwith his ciates the years far behind us. His along this line never knew until striken what proved to be his last illness. vision of Tampa of Florida was always large, accompanied tism which valuable and marked with some other visions with which have acquainted. Though many importuned do Mr. would public but he served member council. Howhe had large interest public affairs. his perhaps more largely than those any other individual, that sulted in construction of the first bridge across the Hillsborriver, LaFayette street. The same concerning of public necessities. however, he chose his and lend private the exception which has been cited. probably advised people regarding Tampa and this west coast section Florida, with which he markably intimately acquainted, than has other two individuals. His advice sought relied upon because was well known that he himself liable. In the passing of this man more link been taken from the ever chain which links Tampa of the present Tampa the past. The getting be notably few. There never any large number them of the Beckwith standard. Many in Tampa share the personal and sorrow which has befallen the family of the ceased. may be said that the work Tampa and progress and worthy of ing But when worker like H. lost the loss great. WHAT'S WORTH DOING. There far more truth than bunk in the old saying that whatworth doing worth ing When Roger Wolfe Kahn decided short time ago to embark career band leader he immediately encountered the opposition of his father, Otto Kahn, the well known banker and opera patron. The father stood for music its highest, most thetic form. The son disKahn thing he could discourage the lad. Roger, has orchestras bearing his name, making of money and has decided buy night in York. And his family. cording the boy seeing earnest. has relented. There nothing bad about jazz orchestra leader. Nor necessarily anything lowbrow you good Roger Kahn have demonstrated that he succeed his chosen business better than any other and quite sensible on the part the father withdraw his rental The case somewhat similar the career youth named Yoelson. rabbi, curred his family's displeasure announcing had chosen stage career. For years there estrangement. Then, when was demonstrated the boy had chosen the career that he seemed, above all others, be fitted for the family relented. The boy known to millions today. Jolson. fortune. no matter large, away through management time. The picture of the young heir, lolling of foreign pleasure resorts, referring business matters underlings not long. That sort finance practiced, usually terminates abruptly. The shiftless heir, if stays rich no longer idle; he longer rich. As for the old-timers, the love the game in their blood. Take census the outstanding financial lights of this and the average probably well above fifty. Some the wheat the kings, the railroad kings generation hard work their desks