Bank of Pratt City (Pratt City, AL)

Episode Information

Episode UID
6531013191333
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
653101319 hash
Start Date
January 23, 1911
Location
Pratt City, Alabama (33.540, -86.869)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
c0a094e52e81c190

Response Measures

None

Description

Sources show a court-ordered receivership and permanent closure; no clear independent run prior to suspension.

Events (3)
1. January 23, 1911 Receivership
Newspaper Excerpt
Receiver named for Bank of Pratt City ... Charles H. Abbott was appointed to take charge of the business of the bank; bond fixed at $25,000
Source
newspapers
2. January 23, 1911 Suspension
Cause
Government Action
Cause Details
Chancery court decree appointing a receiver following bank examiner's report finding insolvency
Newspaper Excerpt
Chancellor A. H. Benners issued a decree ... and Charles H. Abbott was appointed to take charge of the business of the bank
Source
newspapers
3. May 2, 1912 Other
Newspaper Excerpt
Receiver's sale ... the real estate owned by the Bank of Pratt City, including the bank building, furniture and fixtures, will be sold ... May 2 at 12 o'clock noon
Source
newspapers

Newspaper Articles (10)
1. January 24, 1911 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, January 24, 1911

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Article Text

TRAGIC SIDE OF FAILURE BY C. H. MANDY There was considerable excitement in stitution. The more conservative of them fairly large depositors, Pratt City yesterday morning when it hopefully of the situation and became known that the Bank of Pratt out the fact that the matter was City had gone in the hands of a receiver. hands of the court, and that crie As is usual with the failure of banks in clamorings and threats were una industrial centers, quite a number of and that the legal course would 1 small depositors, some of them aged peosued. ple and widows, had their life savings in It was small comfort to the m the bank and to this class the failure of however, and there was many an the bank is a tragedy. The news of the heart in the little city last night, closing of the bank by order of the court statement of the bank examiner spread rapidly and a crowd assembled the assets of the bank were anythi around the doors, many with anxious exencouraging. pression and tearful eyes, hoping against There are those who predict a hope. Others made futile threats and better showing when the final sett were loud in their denunciation of those comes and to this hope the small who had charge of the affairs of the in- tor clings.

2. January 24, 1911 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, January 24, 1911

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Article Text

RECEIVER NAMED FOR BANK OF PRATT CITY Capital Stock of Institution Was Owned By Defuct Guarantee Bank and Trust Company Following a bill of complaint filed in chancery yesterday morning by Aattor. ney General Robert C. Brickell, praying that the Bank of Pratt City be placed in the hands of a receiver, Chancellor A. H. Benners issued a decree to this effeet, and Charles H. Abbott was appointed to take charge of the business of the bank, which will involve the collecting of its assets and the paying of its liabilities. The bond of the receiver was fixed at $25,000. The petition was filed by Attorney General Brickell following a report made by Assistant Bank Examiner L. S. Hosmer, who was directed to make the investigation. The report of Examiner Hosmer contains among others the following articles: W The entire-capital stock of the Pratt City bank was owned by the defunct Guarantee Bank and Trust company of Birmingham, Ala., which is now in the hands of the receiver. "5. The item of banking house and real estate carried at $17,000 is greatly in excess of the true value of the property, said property not being worth more than $7000. "6. From a careful estimate of the loans now carried by said bank, there will be a loss of not less than $20,000 by reason of worthless paper now carried. "10. That in view of the insolvent condition of the affairs of said bank on the date above mentioned, that in his judgment it is necessary that a competent person be appointed receiver of the said Bank of Pratt City immediately to protect the interests and rights of the creditors and depositors of the said band." According to a statement by G. M. Wehb, who was formerly president of the bank, the affairs of the bank had been recently in the hands of Wilbur Atkinson and his assistant. Mr. Webb. stated that he resigned the presidency of the bank about 60 days ago.

3. February 17, 1911 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, February 17, 1911

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Article Text

REPORT ON BANK OF PRATT CITY A report on the condition of the Bank of Pratt City, bankrupt, was filed yesterday in chancery by Charles H. Abbott, who was appointed as receiver by the court last January 23. In making a short resume of the history of the bank the report shows that

4. February 17, 1911 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, February 17, 1911

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of character, poise and depth of understanding." W. B. Leedy "I am very much pleased with the selection," said Mr. Leedy. "All of the men named are fine, and they will give the city excellent service." Webb W. Crawford "Oh! they could not have been beaten," cried President Crawford of the American Trust as he swung aboard the train for Montgomery. "That selection if positively made will be bully. I am very much pleased. I hope it will not be changed in the slightest." Judge H. B. Abernethy "The selection of the commissioners was very good," said Judge Abernethy. "I am very much pleased with the three men named. They are all high-toned men and infinitely capable." Horace Shropshire "I am greatly pleased over the selection, said H. E. Shropshire, Jr. "The men are all capable, have a broad knowledge of municipal politics and will serve in masterly style." B. A. Pepperman "A man on the outside has very little conception of the intricate work of the city," said Mr. Pepperman. "And when they come in they are at once dismayed at the changes from their set notions. Thus mistakes are made. But the three new commissioners are men eminently capable and will rule justly." Dr. Charles Whelan "I am very much pleased with the three commissioners and know they will do the work well," said Dr. Charles Whelan. Fergus W. McCarthy "I am very much gratified over the selections made," said Mr. McCarty. 'They are capable men and know the game well." the Bank of Pratt City was originally incorporated in 1907 with a capital stock of $25,000. W. M. Drennen was president: Tom Stobert, vice president; Wilbur Atkinson, cashier, and Henry Donaldson, assistant cashier. In 1909 the entire capita! stock was acquired by the City Bank and Trust company through W. M. Drennen, and its affairs were conducted by Wilbur Atkinson and Henry Donaldson, cashier and assistant cashier. A sum of $4000, which represents 40 shares of the capital stock held in the City Bank and Trust company, and $1054.61, a balance due by the Guarantee Bank and Trust company, which went into the hands of the receiver, are accounted for in the report of the investigation made by the receiver. The assets of the bank amount to $80,767.28, and the liabilities, including deposits to the amount of $49,544.45 and the capital stock of $25,000, will amount to the same. The value of the real estate in the assets is $17,650. This, however, it is stated will not be realized in full, nor will a large part of the loans and discounts, of which many are said to be of an extremely doubtful nature.

5. April 18, 1912 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, April 18, 1912

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Article Text

Receiver's Sale Under and by virtue of an order and decree of the chancery court of Jefferson county, made and enrolled on the 9th day of April, 1912, I, Charles H. Abbott, as receiver of the Bank of Pratt City, will sell at public outcry to the highest bidder for cash, in front of the banking room lately occupied by the said bank, in the town of Pratt City, Ala., on Thursday, the 2d day of May, 1912, at 12 o'clock noon, the following described real estate, to-wit: (a) The lot on which the bank building is situated, being more particularly described as follows: Commence at the southwest corner of block 2 and run east 25 feet, thence north 50 feet, thence west 25 feet, thence south 50 feet to a starting point, according to a map of the northwest quarter of the northwest quarter of section 29, township 17, range 3 west, as surveyed and platted for W. D. Young by H. L. Wheeler, recorded in volume 33, page 271. (b) Begin at the southeast corner of W. S. Brown's lot, now owned by James Meagher, Sr., running 70 feet along the side, thence west 104 feet, thence north 105 feet, thence in a southeasterly direction 110.1 feet to beginning, in the northwest quarter of the northwest quarter of section 29, township 17, range 3 west, survey recorded in volume of deeds 33, page 271. (c) Begin at the northwest corner of the southeast quarter of the northeast quarter of section 20, township 17, range 3 west, running east 210 feet, thence south 504 feet, thence east 229.7 feet, thence south 321 feet, for a starting point; then run west 135 feet, thence south 84 feet, thence east 135 feet, thence north 84 feet to the starting point. (d) Lots 1, 2 and 3, in block 32, Ensley Land company's adition to Pratt City. (e) The west half of lot 7, in block 1, survey of part of the southeast quarter of the northeast quarter of section 30, township 17. range 3 west, for J. M. Huey, 50x100 feet. (f) Lot 8, according to map and survey made by Corry & Hall of the north half of lot 2. Said lot 2 is shown by a map and survey made for Leonard McCoo by W. H. Harvey. Said lot 8 fronts on an alley for 50 feet and running back of uniform width for 100 feet in the southwest quarter of the southwest quarter of section 20, township 17, range 3 west. (g) Lot 2, in block 9, of Ensley Land company's addition to Pratt City. The lot on which the bank building is located, with improvements thereon and the furniture and fixtures, including 1 iron safe, 1 vault, desks and other personal property now stored in the banking room lately occupied by said Bank of Pratt City, will be offered for sale together and separately. The above listed real estate wil be offered separately and together and sold to the best interest of the estate, subject to the confirmation of the chancery court. CHARLES H. ABBOTT, Receiver of Bank of Pratt City. 4-11-3t-th

6. April 30, 1912 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, April 30, 1912

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RECEIVER'S SALE THE REAL ESTATE OWNED BY THE BANK OF PRATT CITY, INCLUDING THE BANK BUILDING, FURNITURE AND FIXTURES, WILL' BE SOLD BY THE RECEIVER AT PRATT CITY, MAY 2, AT 12 O'CLOCK N AT PUBLIC OUTCRY.

7. May 1, 1912 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, May 1, 1912

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RECEIVER'S SALE THE REAL ESTATE OWNED BY THE BANK OF PRATT CITY, INCLUDING THE BANK BUILDING. FURNITURE AND FIXTURES, WILL BE SOLD BY THE RECEIVER AT PRATT CITY, MAY 2, AT 12 O'CLOCK NOON AT PUBLIC OUTCRY.

8. May 1, 1912 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, May 1, 1912

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RECEIVER'S SALE THE REAL ESTATE OWNED BY THE BANK OF PRATT CITY, INCLUDING THE BANK BUILDING. FURNITURE AND FIXTURES, WILL BE SOLD BY THE RECEIVER AT PRATT CITY, MAY 2, AT 12 O'CLOCK NOON AT PUBLIC OUTCRY.

9. May 1, 1912 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, May 1, 1912

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Article Text

RECEIVER'S SALE THE REAL ESTATE OWNED BY THE BANK OF PRATT CITY, INCLUDING THE BANK BUILDING, FURNITURE AND FIXTURES, WILL BE SOLD BY THE RECEIVER AT PRATT CITY, MAY 2, AT 12 O'CLOCK NOON AT PUBLIC OUTCRY.

10. May 2, 1912 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, May 2, 1912

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Article Text

RECEIVER'S SALE THE REAL ESTATE OWNED BY THE BANK OF PRATT CITY, INCLUDING THE BANK BUILDING, FURNITURE AND FIXTURES, WILL BE SOLD BY THE RECEIVER AT PRATT CITY, MAY 2, AT 12 O'CLOCK NOON AT PUBLIC OUTCRY.