Bank of Ensley (Ensley, AL)

Episode Information

Episode UID
6463009991561
Episode Type
Run โ†’ Suspension โ†’ Closure
Bank Type
state
Bank ID
646300999 hash
Start Date
January 1, 1930*
Location
Ensley, Alabama (33.510, -86.886)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
33ad39ff570777f9

Response Measures

None

Description

Articles report a heavy silent run and a shortage from embezzlement leading to closing and liquidation.

Events (3)

1. January 1, 1930* Run
Cause
Bank Specific Adverse Info
Cause Details
Depositor loss of confidence amid an unknown shortage later revealed as approximately $300,000 misappropriated by employees.
Newspaper Excerpt
he had withstood heavy, silent run
Source
newspapers
2. January 10, 1930 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended/closed after discovery of a roughly $300,000 shortage due to confessed misappropriation by assistant cashier and head teller.
Newspaper Excerpt
closed Jan. 10, 1930; which closed its doors several days ago
Source
newspapers
3. June 26, 1930 Receivership
Newspaper Excerpt
state supreme court ... held that Dent Green, state superintendent of banks is the proper person to act ... receiver ... affairs of the Bank of Ensley
Source
newspapers

Newspaper Articles (11)

Article from Birmingham Post-Herald, January 16, 1930

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Article Text

WESTERN DISTRICT City meeting of the Ensley Friday lowship night Echols Angwin Chapel with the elected officers of the charge. Special music by the McDonald be Quartet and others in the Ensley district. Officers of the organization M. Harvice president: Mrs. M. Jones, secretary Dye, chaplain. and B. Martin and B. Jones Real Estate Board To Meet Members the tate Board of department Fairfield Senior High School held Friday in the school lunchroom. Missionary Meeting Held An MethMissionar the Besdistrict held Wednesday Ensley First Methodist Church with Mrs. K. Grimes, president, in the feature was an address by Dr. W. Pearson. church, on "What Are the Mission- Forces of the World?" He said the greatest the today not more churches ministers, but real Christianity men and women who their lives God. All departments missionary discussed by chairCourse Started study the Bible division the Sunday School manual Wednesday night the Hunter Street Baptist Church under the direction of Dr. Moye, pastor. The course will be continued in connection with the week services, the pastor Kiwanis Meeting Postponed meeting the Ensley Club scheduled for Thursday at the Ensley Methodist until Dr. Herbert A. said Due the drive being made Ensley for funds reopen the Bank of Ens ley and the fact that all stores would closed Thursday, the club board postpone the meeting. Dr.


Article from New Britain Herald, January 22, 1930

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Article Text

BANK EMPLOYES CONFESS THEFTS Alabama Men Used Money to Buy Real Estate Birmingham. Ala., Jan. 22. Misappropriation of approximately $300,000 of the funds of the Bank of Ensley, a suburban institution which suspended business recently has been confessed according to the county solicitor, by Earl Friend and Herman Smith. former assistant cashier and head teller respectively. Solicitor George 1. Bailes, who said the pair told him they used the money to buy real estate during a land boom in this region two years ago. has placed Fricks and Smith in jail on embezzlement charges. Bail for each has been set at $50.000. When the men were arrested yes. terday a depositors committee an. nounced that approximately SO per cent of the shortage is expected to be realized through bonds of $50,000 each carried by the pair and through the sale of their real UState.


Article from The Knoxville Journal, January 22, 1930

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Article Text

BANKERS ADMIT Alabama Quiz Shows Alleged Misappropriations. BIRMINGHAM Ala., Jan. 21 (AP). County Solicitor George Lewis Bailes announced tonight that two former employes of the bank of Ensley which closed its doors sev. eral days ago, have confessed to approxima $300,000 of bank funds while em ployed in the institution. The two employes, Earl Fricks, former head and assistant cashier, and Herman Smith, former head teller, placed in jail today. Balles said the two men declared that the money used to buy real estate during the boom period in Ensley years citizens' depositors which has seeking to raise approximately permit and the Bank of the said they hoped cent. through bonds carried the two men and through estate which has been signed over to bank.


Article from The Birmingham Post, June 26, 1930

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SUPREME COURT UPHOLDS GREEN a cates Appointment Of Dryer As King Receiver June 26 Personals, Announcement (Special.) Official tape which has delayed the trial of Sam BE C. King, president of the defunct made worth Mare Bank Ensley. and blocked liquidation the bank's affairs FOR unwound rapidly Thursday. The state supreme court in ruling by Judge William H. Thomas vacated appointment of E. H. Best of Dryer receiver for the King estate and held that Dent Travel, Opportunity Green, state superintendent of banks is the proper person to act HAVE parties as receiver. It was announced at the office the attorney general that J. W. Brassell, attorney Help Wanted- emale would be Birmingham early netx week to confer with the Jefferson county solicitor todignified preparation for the King emNaperville bezzlement and auditors of the Bank of Ensley were preparCan Immediately ing to submit their 1800 page repleasing to Green at his office here Dignified Monday. company Dryer appointed receiver house 10 Lincoln Life by the Jefferson county circuit Since Jefferson county courts work will go into recess for the summer the of week there Write Box Fairview, is little possibility Mr. King be brought to trial before the fall term in October. spare


Article from The Birmingham Post, July 3, 1930

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Article Text

PROTEST BILL FOR $36,708 IN BANK AUDIT Green's Attorney Here Claims Charge Is Too High COURT INQUIRY Petition Wants Court To Set "Adequate Sum' For Service Holding bill of for auditing the affairs of the defunct Bank of Ensley far excess of fair equitable compensation for the services rendered" H. Anderattorney for Dent Green, bank superintendent, G. Lockhart, liquidating agent and positors of the Bank of Ensley, formally protested payment in petition filed in chancery court Thursday. The bill was rendered several days ago by the auditing firm Amason Hargrove, which company completed the audit of the Bank of Ensley several days after continued work since Jan. 29. The petition filed by Anderton Thursday, addition protesting against the high cost of the audit, seeks have the court hear evidence the matter and ascertain actual reasonable expenses that have been incurred said auditors. Claim Unjust Tax.' Also, the petition claims the bill the auditing firm would be "unjust and unconscienable tax upon the funds of the Bank of Ensley liquidation, which funds should far as possible, conto unfortunate creditors and depositors of defunct The petition out that at the time Banks Green retained the auditors vestigate the affairs of the Bank of Ensley, they were warned that their compensation would have approved by the circuit courts and they agreed upon that fact matter Paid $25 Per Day In copy of the itemized which is contained in the shown that principals and senior auditors were paid $25 day for their work and that junior auditors were paid day. Pay for assistants to the auditors ranged from to day.


Article from The Birmingham News, October 20, 1930

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Article Text

SAM KING UNDER BOND OF $80,000 Former Ensley Bank Official Faces New Indictments Sam C. King. former Bank of Ensley vice and cashier, was under bond Monday on 25 indictments on charges out of failure the bank King, already under bond on nine charging zlement, false and deposits the was additional by Grand Saturday The new indictments two charges embezzlement, five of receiving deposits while bank was and four of the as borrower. the embezzlement charges were $10,000 and and $2,500 the other charges The be set for trial 10. King slated trial Bonds to made Monday by Earl former sistant cashier, and Herman on returned charges of the ing of the They scheduled to face trial returned by a previous Grand Jury charges in connection the ARRESTS FRENCH FLIER French flier. who cracked up his plane Oct. near in an flight from Paris to was Monday on charges of flying over Russia He be brought to for interrogation.


Article from The Birmingham Post, November 13, 1930

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IS ASKED MISTRIAL SECOND SESSION AS OF TRIAL IS STARTED Court Rules Auditors Can Give Facts Of Personal Knowledge Only; Affairs Of Bank Are Aired In Testimony State attorneys asked mistrial the case King shortly after p.m. Trial of Sam C. King, was delayed when the afternoon session opened Thursday while attorneys checked the eligibility of Frank Vance, juror, to sit on the case. The state informed Judge John McCoy that Vance owed the Bank of Ensley $350 and that his Mrs. Alice Pearson, was at one time employed King secretary. Mrs. Vance when called at her home said she did not know whether her sister was ever employed as secretary had worked objection the Bank Ensley. questions of the state to put State's Attorney Jim Long Foot. 1225 Bush blvd., examiner the state would mistrial for the state banking department information he has found former auditor the AmeriTrust Savings With more than merged with the First National still due depositors and other creditors of the Bank of Ensley The state was attempting to in cash hand, have Foot testify to the legal Lockhart, receiver for the reserve the bank, when the bank, testified. fense objected the introduction of records unless Foot made King is charged with receiving the records deposits, while knowing the bank Foot told the court the records failing condition were made asistants working Lockhart's testimony was the under him. Judge McCoy ruled highlight the morning session Foot must keep his own of court, which was sonal knowledge. Foot said he the rapid of the trial, not know anything concerning expected to one of the longest the lega, reserve personally. and most bitterly fought in the Shortage In 1926 county's history. Gray Tate, assisting the state, Lockhart also testified that he had Foot some taken been able collect only (TURN PAGE 000 in cash from notes due the bank, and had offset an additional $90,000. Defense Wins Point. The defense won the first important legal point in the when Judge McCoy, presiding over the trial, ruled auditors could testify only to facts established by themselves and could not testify concerning information obtained other auditors under their The morning was also marked heated controversy between Roderick of defense counsel and Long, assistant solicitor is acting chief prosecutor. Heated Exchange. heated exchange between torneys occurred after Judge McCoy had declared recess about o'clock. Assistant Solicitor Long objected to the presence of Charles Denegre, attorney, in the courtroom. He attempted to have him sworn witness and excluded from the room. Beddow, defense attorney, objected unless Long really intended using Denegre in his case. Judge McCoy sustained Beddow, but until the had rowed. Long told the court, his objection to because he sat near the jury continually whispered King and defense counsel. did not like his courtroom attitude, Long said. He also said Denegre fense counsel in selection of the jury. Denies Connection Beddow denied Denegre was connected with the defense and free born American had right the courtroom. Some men would resent Long's remarks. don't think what he said had any right to said in this courtroom. right, let him resent and sic him on Long retorted. come on now. get out of this tommyrot, Judge called Beddow said. minute gentlemen can settle the judge said. you intend to Denegre he asked Long. Long said. "Then he right be the courtroom,' the judged plied. The defense scored point prior to the recess when the


Article Text

MRS. KING FAILS CIRCULATION OF TO TAKE STAND TELEGRAM GAINS State Balked In Effort To Combined Paper Launched Hear Her Testimony By The state failed in an attempt Saturday to place Mrs. Sam King on the stand in her husband's trial on charge of accepting deposit the Bank of Ensley knowing the bank was failing condition. James McK. Long, assistant solicitor, said the state wished to whether had loaned more than $21,000 to the bank. The defense objected and the state withdrew its request. H. Cummings, for 18 years manager of the Wylam branch of the bank, continued his testimony regarding the financial condition the bank, Saturday. The defense attempted to show that there the bank and that he did not know the condition of the until few hours before closed. Figures taken from the daily trial balance book showed that the amount of deposits the bank close business Jan. 10. 1930, the date of its closing, were greater than the close of business Jan. These figures showed deposits Jan. 10 and deposits on The assets of the bank were given on Jan. and on Jan. 10. Cummings declared that could not tell there had been silent run on the bank Jan. new money might have been put in to offset that taken out. United NEW of morning newspaper replace World, and competition among other New York morning papers for its circulation, marked the representing merger of the New York Telegram and the World papers established by Joseph Pulitzer. The appeared Friday with dispatches the United Press Association, Associated Press, the Newspaper Enterprise and the Newspaper liance. the afternoon Associated Press franchise would be retained. Other marked newspapers the passing the Morning World with advertising in rival publications calling attention to their merits. The enjoyed tremendous circulation for the day, the result of combined culation of the papers with limited duplication, increased terest in the reborn papers (TURN TO THREE)


Article Text

QUESTION BANK ASSETS IN TRIAL Liquidating Agent Heard In Sam King Case Lockhart, liquidating agent the defunct Bank of Ensley, examination Tuesday in the trial of Sam King, as the state attempted to show that stock of the Paramount Coal Co., carried on the books as an asset, never sued. was proceeding slowly after Judge John McCoy over. ruled motion for entered while H. Cumformer the branch, was being questioned. The mistrial motion came late Monday after McK. Long, assistant solicitor, objected to question about Cummings by Roderick Bedcounsel for who charged with accepting deposit the bank failing knowing condition. closed 10, 1930. remember that Beddow director of the City Bank and Trust Co., and he allowed the bank open before the capital stock was paid here he trying tell and how to run said Long. Beddow replied that Long's statement was of the dirtiest ever made courtroom.' He asked that the be Beddow argued nothing could erase the remark which Long had made.


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More About (Continued from Page One) mother supporting the family by selling and odd about small town in which they lived. Atttended College Later went to Transylvania college at Lexoington and he his way there by carrying newspapers. When he was 20 he heard of the opportunities the city Birmingham offered, and he He started at the Ensley steel pushing wheel and using pick and at an later given place timekeeper's office $60 month. After working as timekeeper for than year, King took job in store Ensley and worked there until the store was The sale of the drug store was responsible for King's becoming connected with the Bank of Ensley. friend got him with the bank runner. His salary was a month. King 27. His climb in the bank was rapid. He had bitious and he had honesty and to After as for year, collection year later he made years later he made and in seven years after he entered the bank, he became cashier at the age of 34. year later King and Robert Chadwick offered chance controlling interest in the bank Ramsay and and took the chance. King went and put over his part of the deal. He executive dent of the Chadwick president. Wrote Life Insurance King was making "big money" before be became executive vicepresident. For more than five years had been making much $10,000 annually, writing life insurance. From the time King and Chadwick the bank proswere erected Ensley and Wylam. The capital from and the surplus from $200,to $300,000. King said it was in 1929, when several in county closed, that his began having trouble. He said that months before the institution closed, it withstood heavy, silent run. Jan. 10 we had to close," he said, "because lack of confidence in the institution, and an unknown shortage of about $300,000, in spite of the fact my about $450,000 in bank in an effort save Since has failed King has times in nection closing stitution. He was tried October, 1930, and the case ended in a misHe was tried in March, May and October, acquitted each time. He was to go on trial again MonKing is the father of four children.


Article Text

BANKER GUILTY BIRMINGHAM. Ala. Jan 26 Sam C. King, former millionaire ecutive vice president of the now funct Bank of Ensley suburb, was convicted federal here today on charges of mailing false reports of the bank's condition prior to its fallure on Jan 10. 1930