Bank of Guilford (Greensboro, NC)

Episode Information

Episode UID
6761172991189
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
676117299 hash
Start Date
January 4, 1899
Location
Greensboro, North Carolina (36.073, -79.792)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
36c65198e405eded

Response Measures

None

Description

Contemporary reports describe the action as voluntary liquidation and a receiver was appointed; depositors were being paid.

Events (2)
1. January 4, 1899 Suspension
Cause
Voluntary Liquidation
Cause Details
Directors asked for a receiver to wind up affairs after the bank had been losing money for some time; described as voluntary liquidation.
Newspaper Excerpt
The Bank of Guilford, of this county closed its doors to-day. A notice was posted stating that by order of the directors a receiver had been asked for to wind up the affairs of the bank.
Source
newspapers
2. January 5, 1899 Receivership
Newspaper Excerpt
Upon the application of some of the stockholders, the Bank of Guilford ... went into the hands of a receiver, Mr. J. S. Cox, this morning. The action is simply voluntary liquidation. The depositors will be paid in full.
Source
newspapers

Newspaper Articles (11)
1. January 5, 1899 The News & Observer Raleigh, NC
Article from The News & Observer, January 5, 1899

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THE BANK OF GUILFORD THE DOORS C OSED AND A RECEIVER ASK'D FOR. He Will Wind up the Business. Bank Losing Money for Some Time. Depositors Will be Paid. Greensboro, N. C., Jan. 4.-(Special.) -The Bank of Guilford, of this county closed its doors to-day. A notice was posted stating that by order of the directors a receiver had been asked for to wind up the affairs of the bank. The bank has been losing money for some time, and the announcement caused no surprise. It is stated that deposits will be paid in full.

2. January 5, 1899 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, January 5, 1899

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BANK CLOSES ITS DOORS. A Not Unexpected Event at Greensboro'. GREENSBORO', N. C., January 4.(Special.)-The Bank of Guilford, of this city, closed its doors to-day. A notice was posted stating that by order of the directors a receiver had been asked for to wind up the affairs of the bank. The bank has been losing money for some time, and the announcement caused no surprise. It is stated that the depositors will be paid in full.

3. January 6, 1899 Virginian-Pilot Norfolk, VA
Article from Virginian-Pilot, January 6, 1899

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GREENSBORO, ONE BANK ASKS FOR RECEIVER, ANOTHER INCREASES CAPITAL. Greensboro, N. C., Jan. 5.-Upon the application of some of the stockholders, the Bank of Guilford, organized here in 1889, went into the hands of a receiver , Mr. J. S. Cox, this morning. The action is simply voluntary liquidation. The depositors will be paid in full. Union bricklayers on Wharton & McAlister's new insurance building, struck this morning because two nonunion men were employed on the job. After investigating the claims of the various interests, Mr. Wharton promptly decided in favor of the union men, and the others were discharged. The question of wages was not involved. The Piedmont Bank to-day increased its capital stock to $100,000 and will be converted into a national bank as soon as authority is received from Washington. All the old officers were re-elected for the ensuing year. A semi-annual dividend of 4 per cent was declared.

4. January 13, 1899 Fisherman & Farmer Elizabeth City, Edenton, NC
Article from Fisherman & Farmer, January 13, 1899

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ALL OVER THE STATE. A Summary of Current Events For the Past Seven Days. While felling a tree in Rand~ olph county a man named Den ny Allred was killed by a limb. Jas, McRae, colored of New Hanover county, was killed Saturday by the accidental discharge of a gun. The citizens of Whiteville are getting up a petition, asking dis the Legislature to establish a pensary there. Continued ill health induced Mrs. James Young, of Stokes county, to commit suicide Mon> day by taking strichnine. A company with a capital of $3,500 has been organized at Ashboro, Randolph county, to establish a chair factory. Nannie Hill, colored, living near Winston, was arrested Tuesday, charged with strangling her eight days old baby. The Bank of Guilford, at Greensboro, closed its doors Cox Wednesday morning. J. .S. has been appointed receiver. In Gaston county, Saturday, the wife of Thomas Helton eloped with Asbury M. Abram, a married man, both leaving large families. The Democrats having gained control of the board of education of New Hanover county, all the negro school committeemen have been ousted. The our-year old son of David Thompson was burned to death in Union county, Tuesday during the temporary absence of his mother. Fire at Charlotte, Friday night, destroyed the buildings occupied by the Shaw-Howell Liddle Harness Company, and & Co., causing a $75,000 loss. Prof. John J. Blair has resigned the superitendency of the becity schools of Winston to come superintendent of the Wil mington public schools. Monday In Wilmington, night some one slipped into the residence of Mrs. M. L. Brown and left an infant on her bed. There is no clue to its identity. During the year 1898 there of were issued from the register deeds office in Halifax, 134 marriage license for the white race and 361 for colored, making 495 in all. Great indignation is felt in the ranks of Mecklenberg Camp Confederate Veterans, Charlotte, for against Senator Butler, asking the Federal government for pensions for Confederate soldiers, The 18 months old child of Ola Anderson, colored, of Caldwell county, was burned to death Monday night. The mother left the child alone in the house. The house was burned and the child with it. The eleven year old son of Jefferson Bishop, in Forsyth county, got his father's bottle and of whiskey Saturday night drank about half pint of the The boy died before aid could be medical liquor. summoned. While Rev. J. M. Rose, pass tor of the Morganton Presbyte rian church, was attending prayer meeting Tuesday night, a burglar entered the house and a stole ten dollars in cash and gold chain from the desk in the pastors's study. At Barnardsville, Buncombe county, Friday, the bursting of a machine in the pin factory of Mason and Dickinson, caused the death of J. B. Whittemore. A piece of the machinery was thrown through Whittemore's body, causing his death in three hours. During a drunken row in Ashe county, Saturday night, in which John Hampton, Joe Stans berry and John Goss were the participants, Hampton and Stan were shot at last accounts was Goss berry and killed not and expected to live,

5. September 5, 1899 The Times Richmond, VA
Article from The Times, September 5, 1899

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A FATHER MAKES AWFUL MISTAKE Gives His Son Poison by Accident for Other Medicine. WAS KILLED ALMOST INSTANTLY Bank of Gnilford Pays a Dividend-An Ignorant Man Violates the Internal Revenue Law-A Deaf Mute Held Upand Robbed. GREENSBORO, N. C., Sept. 4.-Special. Mr. C. A. Doggett, of Brown's Summit, Guilford county, made a mistake last night that resulted in the death of his three-year-old son. The child had been sick and calomel had been prescribed. Unfortunately Mr. Doggett mistook the morphine bottle for the calomel bottle and administered a dose to the little boy that killed him almost immediately. DIVIDEND ORDERED. In the case of J. S. Cox, receiver, against the Bank of Guilford, Judge Brown has ordered that the depositors be paid 40 cents on the dollar inside of thirty days. It is hoped that this will avoid the unpleasant features that are sure to result if there is a continuation of the suits on the bonds of the cashier, teller and book. keeper of this bank. District Attorney Holton has brought a libel suit for $666.87 worth of cigars owned by J. D. King, a cigar manufacturers of Winston and claims that the property should be forfeited to the government because King received five cigar boxes without destroying the revenue stamps. In his answer, filed to-day, King alleges that he is a very ignorant man, but that he has always tried to comply with United States laws, BAD ACCIDENT. While riding to church in a wagon yesterday, Mrs. Joseph Fields was thrown out and two of her ribs were broken and her head badly cut. There was a dastardly robbery commit. ted one mile from this place last night. A deaf and dumb man named Mitchell was walking thome along the railroad track, when he was suddenly seized by two men who choked him nearly to death and took from him the few dollars and other val. uables that he had on his person. Two men are being held by the police on sus. picion.

6. October 7, 1899 The News & Observer Raleigh, NC
Article from The News & Observer, October 7, 1899

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EXERCISES AT STATE NORMAL. Cases Disposed of in the Federal Court -Serious Accident. Greensboro, N. C., Oct. 6.-(Special.)-The opening exercises at the State Normal and Industrial College were held in the chapel yesterday morning. Dr. McIver asked the girls to sing the Long Meter Doxology. Then he read the Sermon on the Mount, and after a short sensible talk to the students lectures began. Mr. Jno. Barber, of this city, had the bad luck to have this leg broken yesterday while helping to lift some heavy lumber at this farm. The bone of the leg was broken in two places. The receiver of the Bank of Guilford is paying out 40 per cent. of déposits in the broken bank. The following cases were disposed of in the Federal court here today: L. Bucham, guilty of blockading, sentenced three months imprisonment and $100 fine. Samuel Troxber got off on payment of costs. Henry Williams and Joe Langley, case continued. Henry Saunders, Montgomery county, judgment suspended on payment of costs. Jno. Powell, of Orange county, guilty. Judgment suspended on payment of costs. Geo. May and James Soot. of Guilford county, guilty, four months in jail and $100 fine. Geo. and William. Lawson, Stokes. guilty. Judgment suspended on payment of costs. Hugh Williams, of Rockingham, not guilty. Jino. Bradsher, Alamance county, not guilty. Joe Freeland, Alamance county. Judgment suspended Col. Brooks and Ashbury Bates, Surry county. Guilty. sentence, three months in jail and $100 fine each. W. H. Jones, Wilkes county, case dismissed. Alonzo L. Davis, Surry county, called and failed. James Anderson, Wilkes county, case dismissed. Dr. Thomas, of Lexington, has located here.

7. January 4, 1901 The News & Observer Raleigh, NC
Article from The News & Observer, January 4, 1901

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PIEDMONT SHUTTLE WORKS. New Industry Organized. Rumor of Two New Cotton Factories For Greensboro. (Special to News and Observer.) Greensboro, N. C., Jan. 3.-Greensboro enters the new year with the most flattering prospects from a business standpoint. Several new, enterprises are under way, and two or three big enterprises are being organized. It is rumored that two new cotton factories, to employ several hundred operatives, will be built in the spring. The Piedmont Shuttle Works has just been organized here the papers being filed today. The incorporators are Mr. W. H. Bishop and Mrs. Caroline Bishop, of this city, and Mr. C. E. Fleming, of Spartanburg, S. C. The latter will manage the business. The concern will manufacture shuttles, bobbins and cotton mill supplies. It is the third enterprise of the kind recently organized here. The real estate market in Greensboro is quite active just now. A dealer informed the News and Observer correspondent today that he sold $16,500 worth of property the first two days of the year. Yesterday a new and substantial building on South Elm street, occupied by the Southern Express Company, was sold by Mr. E. P. Wharton for a handsome consideration. Matthew Howard, a young negro man, was arrested here today charged with committing rape, his victim being a 14year-old colored girl. The resignation of Mr. J. S. Cox as receiver of the defunct Bank of Guilford, will be acted upon at the coming special term of Guilford Superior court. If the resignation is accepted it is generally understood that Mr. J. Speight Hunter, of the Hunter Manufacturing and Commission Company, will be appointed receiver. Mrs. T. E. McRary, of this city, died at the home of her father, in Lexington, last night. She had recently recovered from a severe attack of typhoid fever and had gone to Lexington to recuperate. She leaves a husband, the chief clerk in United States Marshal Milliken's office, and a five-months-old daughter. Judge Boyd has gone to Asheville to hold a special term of the United States District court. Greensboro's oldest citizen, a negro 95 years old, died last night.

8. January 3, 1902 The News & Observer Raleigh, NC
Article from The News & Observer, January 3, 1902

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DEATH OF MR JOHN SCHENCK. The Hearing of the Bank of Guilford Cases Resumed. (Special to News and Observer.) Greensboro, N. C., Jan. 2.-Mr. John Schenck, who had been critically ill for months, died this morning. He suffered from something like cancer of the brain, and in addition, was totally blind and deaf. Previous to his affliction he was engaged in business in Charlotte as an electrical engineer. The deceased was a son of Judge and Mrs. David Schneck. The hearing of the Bank of Guilford cases was today resumed before the referee, Col. John N. Staples. The cases are brought by the receiver against some of the officers and directors of the defunct bank.

9. March 7, 1903 The News & Observer Raleigh, NC
Article from The News & Observer, March 7, 1903

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Greensboro, N. C., March 6.-Col. John N. Staples, referee in the case of Hunter, Receiver of the Bank of Guilford, vs. Bogart, cashier and his bondsmen, will resume the taking of testimony on March 12th. This case involving over $50,000 is a suit brought against the cashier of the insolvent bank and his bondsmen to make good the losses by the bank, and has been very strongly contested.

10. March 7, 1903 The Times Dispatch Richmond, VA
Article from The Times Dispatch, March 7, 1903

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A CARNEGIE LIBRARY Movement in Greensboro to Accept Offer of $25,000. (Special to The Times-Dispatch.) GREENSBORO, N. C., March 6.-At a meeting of a committee of ladies, representing the literary societies of the city, 18st night, a general mass meeting of citizens was called to meet in the OperaHouse on the night of March 13th to disBuss the enlargement of the present city public library and the acceptance of the offer of a $25,000 Carnegie library. PromInent speakers will be present and music will be furnished by the Normal College Woman's Orchestra. This committee of ladies for the past ten days have been instrumental in securing a donation from citizens of 250 new volumes and $54 cash for the city library. After the meeting on the 13th these books will be formally presented to the library, with appropriate talks. An act of the Legislature has just been passed concerning the proposed Carnegle library for Greensboro. Colonel John N. Staples, referee in the case of Hunter, cashier of the Bank of Guilford, vs. Bogart, cashier, and his bondsmen, will resume the taking of testimony on March 12th. This case involves over $50,000 and has been pending for two years. It is a suit brought against the cashier of the insolvent bank and his bondsmen to make good the losses by the bank, and has been very strongly contested. An idea of this can be had from the fact that Mr. Wetmore, the first witness yet examined, the expert accountant, has not yet been turned loose on cross-examination by the defense, although his testimony so far amounts to 200 typewritten pages. Z. V. Taylor and J. N. Wilson represent the plaintiff receiver. The defendants are represented by Messrs, King and Kimbali, Lewis Scott, Scales and Scales, Douglass and J. A. Barringer. The Executive Committee of the Associated Boards of Traue, through Secretary Hunter, of this city, are now making an effort to secure a conference with the authorities of the Southern Associated Railways, to be held in Washington on March 16th, to come to some understanding regarding the alleged discrimination in freights against North Carolina towns. Every effort so far to have an amicable adjustment of these maters, or to even get an authorized conference, have signally failed, and it would seem that if a meeting is ever agreed upon it will amount to nothing. Mr. John T. Rees, a popular young. business man or Greensboro, and Missi Nora Wood, the attractive daughter of: Mrs. Nan Wood, of the Central Hotel, were married last night by Rev. Dr. TurVEC

11. November 3, 1903 The Times Dispatch Richmond, VA
Article from The Times Dispatch, November 3, 1903

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NEGROES ARRESTED. Prisoners Sent to Work on County Roads-Bank Cases. (Special to The Times-Dispatch.) GREENSBORO, N. C., November 2.An important arrest was made by the police here this morning of three professional negro thieves in a negro suburb of the city known as Dublin. The men give their names as Jim Williams. of Trenton, N. J.; Carson Coggins, of Troy, N. Y., and Earle Sharpe, of Rock Hill, S. C. Saturday night a freight car was broken open and several boxes of shoes and dry goods stolen. The negroes were arrested, taken to the lock-up, and were tried before the Mayor this afternoon, and in default of ball were sent to jail. The sheriff took twenty prisoners to the county road force this morning. that being the number sentenced to hard labor ICT various offences by Judge Allen last week. The grand jury Saturday reported that they had thoroughly examined all the county offices and found everything in good condition. They strongly recommended the building of a workhouse by the county for the confinement and employment of boys and women who are convicted of violating the law, many of whom are now sent to the county chain gang to work and associated with hardened criminals. Superior Court for the trial of civil cases began this morning, to last for one week. What are known as the Bank of Guilford cases were called this morning. Judge Allen said that he understood that the lawyers and litigants were parleying with a view to a compromise, and that it might save time to take a recess, so that a full conference might be had between all parties. and court adjourned at 3 o'clock. The Bank of Guilford cases are twenty-five suits brought by stockholders of the Bank of Guilford against the Board of Directors of the bank for damages on account. of negligence on the part of the directors. The suits involve about $60,000, and by a previous order of court were consolidated into one case. The receiver has already paid out to depositors and creditors of the bank about ninety-five per cent. of their claims, and the stockholders claim that they are entitled to be paid by the directors.