Bank of New Hanover (Wilmington, NC)

Episode Information

Episode UID
7987513191117
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
798751319 hash
Start Date
January 1, 1893*
Location
Wilmington, North Carolina (34.226, -77.945)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d34ead34532b884e

Response Measures

None

Description

The articles describe the liquidation and receivership proceedings following the bank's failure; the bank had a solvent branch in Wadesboro that was also placed in receivership.

Events (3)
1. January 1, 1893* Receivership
Newspaper Excerpt
At the time of the failure of the Bank of New Hanover a receiver was appointed.
Source
newspapers
2. June 19, 1893 Suspension
Cause Details
The articles discuss the aftermath of the failure and receivership but do not specify the immediate trigger of the 1893 suspension.
Newspaper Excerpt
When the Bank of New Hanover, at Wilmington, failed, its branch at Wadesboro' was entirely solvent.
Source
newspapers
3. April 26, 1897 Other
Newspaper Excerpt
the court ordered a dividend of 2 per cent. to be paid June 20, 1897, to depositors and creditors.
Source
newspapers

Newspaper Articles (8)
1. May 15, 1896 The News & Observer Raleigh, NC
Article from The News & Observer, May 15, 1896

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CAROLINA BEACH SOLD. The Property Bought In by the Original Owners for $3,600. Wilmington, N. C., May 14.-(Special.)-The property formerly belonging to the New Hanover Transit Company which was transferred and deeded to Mr. S. W. Skinner by Junius Davis, Esq., receiver for the Bank of New Hanover, comprising in part use railroal, locomotive, cars, hotel and other property was sold at public au tion to-day at 11:30 o'clock by Cronly and Morris, auctioneers, under authority of Mr. Skinner. Before the sale began Mr. John D. Bellamy, Jr., counsel for certain part owners of the property, announced that he wished to give notice that onethird of the property offered for sale belonged to Messrs. A. D. Brown, W. S. smith and J. C. Stevenson# Mr. A. G. Ricaud, representing the Seacoast railroad, had an option on this property for this and the coming season and the sale would have to be made subject to the option. The property was then sold subject to a mortgage of $4,500 and interest due Junius Davis, Esq., receiver, and was purchased by D. O'Connor, Esq., for $3,600. Mr. O'Connor adted in this matter for for the stockholders of the New Hanover Transit Company, and the cottage owners at Carolina Beach. Whether this purchase will succeed in opening Caronna Beach for the coming season is a question of great uncertainty. If the option claimed by the Seacoast Railroad Company can be enforced Carolina Beach will be closed during this and next season.

2. April 20, 1897 The Semi-Weekly Messenger Wilmington, NC
Article from The Semi-Weekly Messenger, April 20, 1897

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THE SUPERIOR COURT. Fourth Day's Session of the Spring Term Mr. George B. Elliott Admitted to the Bar-Cases Disposed of Yesterday. Pursuant to adjournment for recess on Wednesday, the superior court met yesterday at 10 a. m. George Rountree, Esq., introduced Mr. George B. Elliott who having been duly licensed as an attorney at law, was sworn in and admited to practice law in the courts of the state of North Carolina. Cases were disposed of as follows: Frank Swift vs. W. H. Howe and the Wilmington and Weldon Railroad Company, judgment for the plaintiff. The defendants made a motion far a new trial but the motion was overruled. An appeal was taken. The case of Mrs. Jennie T. Rittenhouse administratrix vs. the Wilmington Street Railway Company, for damages by reason of the fatal accident to her husband, was set as the first case for trial on the 1st Monday of the next term. Thomas B. Burnett vs. the Wilmington, Newbern and Norfolk railway, set for the first case for trial on the second Monday of the next term. The Singer Manufacturing Company vs. H. Merritt, judgment for the plaintiff for $40 and interest. M. E. Heyer, administratrix vs. W. E. Herring, time allowed to file pleadings. Non suits were entered in the following cases: John Maunder vs. J. H. Sweeney; The Ocean View Company vs. J. A. Hewlett; C. M. Bonham vs. E. H. Sneed & Co.; Corbett & Gore vs. Adrian & Vollers; H. and H. W. Catherwood vs. Adrian & Vollers; Cook & Bernhimer Company vs. Adrian & Vollers; Junius Davis, Esq., receiver of the Bank of New Hanover vs. Adrian & Vollers; E. K. Bryan assignee of Adrian & Vollers vs. J. D. Rogers; D. L. Gore vs. A. M. McKinnon; Sam Bear, Sr., vs. Andrew Smith et al; C. F. Batlage vs. Junius Davis, Esq., receiver et al; Louisville Packing Company vs. J. R. Turrentine; Hurlbert Bros. & Co., vs. M. P. Taylor, Jr., & Co.; W. A. Wright et al vs. W. N. & N. R. R. Co. J. H. Sharp vs. W. E. Mayo, time allowed to file pleadings. George R. French & Son vs. Durham Fertilizer Company, continued. Standard Oil Company vs. Harding Johnson, alias summons issued. E. J. Powers vs. J. F. Everitt, continued. Katz & Polvogt, continued. Worth & Worth vs. D. McMillan & Sons, judgment against those who have been served, alias summons for others. R. W. Hicks vs. J. N. Rivenbark, judgment. R. W. Hicks vs. Z. G. Thompson, judgment. M. S. Blossom et al vs. Henry Green et al, judgment. Decrees were issued in cases as follows: Iredell Meares et al receivers vs. Adolphus Thomas; Iredell Meares, et al, receivers vs. Alfred Jones; Iredell Meares, et al, receivers, vs. S. F. Yopp et al. The University of North Carolina vs. Silvia Jones et al, on trial. The court took a recess till 10 o'clock this morning.

3. April 23, 1897 The Semi-Weekly Messenger Wilmington, NC
Article from The Semi-Weekly Messenger, April 23, 1897

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THE THREE MAYORS. The Quo Warranto Proceedings Being Heard in the Superior Court - Four Claimants for the Mayoralty. Pursuant to adjournment for recess on Saturday, the superior court of New Hanover county met yesterday at 10 a. m., His Honor Judge James D. McIver presiding. Cases were disposed of as follows: Junius Davis, Esq., receiver of the Bank of New Hanover, VS. L. Vollers. Counsel for plaintiff gave notice of a motion to set aside the verdict given for the defendant and for a new trial. Iredell Meares, Esq., et al receiver vs. A. M. Wilson. On motion of the plaintiffs, the decree of foreclosure made at the January term was sticken out and the action dismissed at the plaintiff's cost. Mechanics Building and Loan Association vs. B. F. King, sixty days allowed to file pleadings. At 10:10 a. m. the cases involving the mayoralty of Wilmington were called, as follows: "State of North Carolina, in relation to W. N. Harriss et al, VS. S. P. Wright, et al." "State of North Carolina, in relation to H. McL. Green et al VS. S. P. Wright et al." In the first case Messrs. George Rountree and Iredell Meares appeared for Mayor Harriss and his board, Messrs. Bellamy & Bellamy and Ricaud & Bryan for Mayor S. P. Wright and his board, and Messrs. Herbert McClammy and Frank McNeill for Mayor Walker Taylor and Aldermen Springer, Yopp and Fennell. In the second case, Messrs. John D. Bellamy, Junius Davis, W. B. McKoy, and T. W. Strange appeared for Mayor M. McL. Green and his board, Messrs. Bellamy & Bellamy and Ricaud & Bryan for Mayor Wright and his board, and Messrs. McNeill and McClammy for Mayor Walker Taylor and Aldermen Springer, Yopp and Fennell. The complaints and answers in the case were read by the attorneys, and each side stated their contentions to the court. Messrs. George Rountree and Iredell Meares stated to the court that they would contend that the act of the general assembly, ratified March 9, 1897, under which the recent city election was held, was unconstitutional as a whole and as the appointment and election of the aldermen under its provisions was null and void, Mayor Harriss and his board of aldermen would hold over under the city charter which provides that "the mayor and aldermen shall serve for two years or until their successors are elected and qualified." Messrs. John D. Bellamy and T. W. Strange stated that they would contend that the act ratified March 9, 1897, was unconstitutional as a whole, and *hat Mayor H. McL. Green and THE rd of aldermen were duly elected the old chart and entitled to nees. ssrs. McNeill and McClammy stathat their contention was that the of March 9, 1897, was unconstitutional as to the section giving the governor authority LU appoint five aldermen, but is constitutional as to its other provisions; that the five aldermen elected are the legal aldermen, and that they voted for and elected Walker Taylor mayor. Marsden Bellamy, Esq., stated that his side would contend that the act ratified March 9, 1897, was constitutional as an entirety, and that Mayor Wright and the five aldermen elected and the five appointed legally constitute the mayor and board of aldermen. A. G. Ricaud, Esq., counsel for Mayor Wright et at, said the issues in all the cases were practically the same and moved to consolidate the cases. The counsel for the other claimants concurred and the cases were ordered to be consolidated. The court at 11:30 a. m. tock a recess till 3 p. m. At 3 o'clock the court met, and the counsel informed the court that argument on the issues involved would be made in the following order: Messrs: Meares, Strange, McClammy Ricaud Davis Bryan John

4. April 27, 1897 The Semi-Weekly Messenger Wilmington, NC
Article from The Semi-Weekly Messenger, April 27, 1897

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FOR MAYOR HARRISS. McIver stated that he was to render his decision in the involving the mayoralty of Wiland had the clerk to make following minute on the records as opinion: of section 2 of the act of 1897 is onstitutional and that no valid has been, held and that board as the Harriss board is entitled the offices of mayor and aldermen the city of Wilmington." attorneys of the several claimwere in court and from the above appeals were prayed by the H. McL. Green, C. L. SpenJames C. Munds, W. Catlett, and Mann on the one hand, by WalkPaylor. W. E. Springer, Owen Fenand W. E. Yopp on the other hand, also by S. P. Wright, H. Coleman D. J. Benson, Andrew J. HewB. F. Keith, John G. Norwood and Green. All the appeals were Notice of appeal in each case waived and the bonds on appeal case were fixed at $25. THE BANK CASE. court resumed the case of et al, vs. Junius Davis, receiver the Bank of New Hanover, was up. This is an action to dewhether the assets of the Wadesbranch of the Bank of New Hanshall be separated from the asof the bank at Wilmington and be apart for the benefit of the credof the Wedesboro bank, or shall stitute a part of the assets of the bank and he shared alike by the of both banks in common. Hon. R. T. Bennett and the Hon. A. Lockhart, of Wadesboro, apfor Mr. James A. Leak, receiver he branch bank at Wedesboro, and Rountree, Esq., and Eugene S. Esq., for Junius Davis, Esq. he Bank of New Hanover, of WilThis is an action to deLockhart consumed the greater of the morning in his argument. ling mainly with the facts. At p. m. the court took a recess till m. 3 p. m. the court met and Mr. khart finished his argument. He followed by Judge Bennett who arthe law points. In his introducremarks he said: We are not here to ask the court to a refined morality because it ches too far for practical purposes. have not been able to find in the rlish reports a precedent on all fours the facts in this case. It is algratifying to me in the discharge duties as lawyer and counsel to in the able reports of the English cases which investigate princicontested before the court, and they decide a question I am into take them as guides. There been a time in our state when we individual judges who were the of any of their contemporaries at or abroad. We had upon our court as associate and chief a gentleman whom I regard as greatest judge who ever served an rlish speaking community. I have every opinion of Lord Mansfield every/opinion of Chief Justice RufI believe Judge Ruffin to have

5. April 27, 1897 The Semi-Weekly Messenger Wilmington, NC
Article from The Semi-Weekly Messenger, April 27, 1897

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THE SUPERIOR COURT. THE SPRING TERM REACHED AN ADJOURNMENT YESTERDAY. Judge McIver Decides in Favor of the Wadesboro Branch of the Bank of New Hanover-The Assets Seperated From Those of the Parent Dividends for the Depositors of Both Banks. Pursuant to adjournment for recess on Friday evening, the superior court of New Hanover county, met yesterday at 10 a. m., His Honor Judge McIver presiding. The following cases were disposed of: Junius Davis, receiver of the Bank of New Hanover, vs. L. Vollers, et al judgment for defendant. The plaintiff made a motion for a new trial. Motion was overruled, whereupon the plaintiff took an appeal to the supreme court. Singer Manufacturing Company vs. H. Merritt, judgment for plaintiff for $40 and interest. Carolina Central Railroad Company vs. Wilmington Street Railway Company, 30 days allowed to file complaint, and 60 days to file answer as of this term. John S. Watters vs. the American Manufacturing and Export Company, receiver continued as to the assets of the company. Frank Swift vs. W. H. Howe and the Wilmington and Weldon Railroad Company judgment for defendants. Plaintiff appealed to the supreme court. Junius Davis, receiver of the Bank of New Hanover vs. H. G. Smallbones, judgment for plaintiff signed. The following cases were continued: Alex. Sprunt vs. William C. Peake; Homes & Sutton vs. W. C. Peake; Samuel Blossom and wife vs. M. G. Chadwick et al; Lula M. Clayton vs. Carolian Central Railroad Company; Joseph Silvy vs. The Inter-State Telephone and Telegraph Company; Mary McNeill vs. Robert McNeill. On motion of the attorneys for Junius Davis, Esq., receiver of the Bank of New Hanover. at Wilmington, the court ordered a dividend of 2 per cent. to be paid June 20, 1897, to depositors and creditors. On motion of the attorneys of Mr. James A. Leak, receiver of the branch bank of New Hanover, at Wadesboro, the court ordered a dividend of 2 per cent. to be paid to depositors and other creditors, May 1st. In the case of Holmes and Waters and S. McD. Tate, treasurer of the state of North Carolina vs. the Bank of New Hanover, Junius Davis, receiver, of the Bank of New Hanover, at Wilmington, and the branch of the Bank of New Hanover, at Wadesboro, in relation to the petition of W. A. Smith, the court rendered a decision separating the assets of the two banks. The following is a part of the judgment. "It is therefore ordered, adjudged and decreed by the court that the assets of the branch at Wadesboro now in the hands of James A. Leak, receiver, be applied to the payment of the debts contracted at, and due by said branch bank at Wadesboro. as distinguished from the debts contracted at, and due by the Bank of New Hanover at Wilmington, the parent bank, and that any surplus remaining after paying the expenses incident to the management of the trust by the received at Wadesboro, and the said branch be turned over to Junius Davis, receiver of the Bank of New Hanover at Wilmington, to be applied as the court may direct. It is further ordered that the costs incurred in this reference and adjudication be paid by Junius Davis, receiver of the Bank of New Hanover."

6. October 12, 1897 The Semi-Weekly Messenger Wilmington, NC
Article from The Semi-Weekly Messenger, October 12, 1897

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The Superior Court Pursuant to adjournment on Wednesday evening, the superior court met yesterday at 10 o'clock a. m., His Honor Judge Oliver H. Allen presiding. The case of T. B. Burnett against the Wilmington, New Bern and Norfolk Railroad Company for $5,000 damages for personal injury, was resumed and the argument begun on Wednesday was concluded by Marsden Bellamy, Esq., one of the plaintiff's counsel. The judge then charged the jury and they retired at 1:30 o'clock p. m. The following compose the jury: D. C. Bradley, A. S. Winstead, G. W. Grimstead, Richard Merrick, John W. Loftin, Decatur Sneed, J. S. Russ, C. T. Smaw, W. J. Stewart, James H. Howe, J. A. Everitt, J. Sternberger. The court took up and disposed of other cases as follows: T. C. Miller vs. Johnston Hooper, mistrial. City of Wilmington vs. D. W. C. Love et al, non suit. City of Wilmington vs. Mrs. A. S. Ellis, non suit. Louise W. Katz vs. Gerrett Walker et al., non suit. The B. F. Mitchell Company vs. C. M. Whitlock, judgment for defendant. Iredell Meares, receiver of the Carolina Inter-State Building and Loan Association, vs. Alfred Jones et al., final decree. Frank H. Blodgett vs. the Union Construction Company, judgment for plaintiff. Iredell Meares and P. B. Manning, receivers of the Carolina Inter-State Building and Loan Association vs. the Caroline and Virginia Investment Company, judgment for plaintiffs. Edmund Highsmith vs. the City of Wilmington, on demurrer, demurre* sustained. T. M. Trent vs. Sarah M. Trent, judgment for plaintiff. M. S. Finlayson vs. First National Bank, on account of the death of the plaintiff, new parties plaintiff were allowed and plaintiff was allowed to amend complaint. S. N. Weill & Co. vs. C. W. Kunold et al., judgment for plaintiff. Standard Oil Company vs. Harding Johnson, alias summons issued. Junius Davis, receiver of the Bank of New Hanover, vs. Isaac Bates, Henry O. Smallbones and Walter Smallbones, judgment for plaintiff on a promisory note for $8,950 with interest therein from the 30th day of July, 1892, and the costs of this action. D. D. Southerland vs. J. T. and G. F. Alderman, continued. Eliza Moore vs. T. A. Moore, continued. John S. Blossom et al., VS. W. B. McKoy et al., continued. J. J. Ward vs. W. H. Howard. judgment for casts against defendant. Marine Bank vs. Junius Davis, receiver of the Bank of New Hanover, continued. A. C. Wessell et all. vs. W. H. Howard et. al., continued. Finance Company of Pennsylvania vs. George Harriss, Son & Co., allias summons for T. B. Harriss. At 5:35 o'clock p. m. the court took a recess till 10 o'clock this morning. When The Messenger went to press this morning, the jury in the Burnett case was still out, not being able to agree. The prospects are that they will make a mistrial.

7. November 4, 1897 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, November 4, 1897

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ACROSS THE border. NEWS NOTES GATHERED IN THE NORTH STATE CAPITAL. An Interesting Case in the Supreme Court Growing Out of a Bank Failure-Public Libraries - Personal Mention-Brlefs. RALEIGH, N. C., November 3-(Special.)-In the Supreme Court to-dav there was argument in a peculiarly interesting case. When the Bank of New Hanover, at Wilmington, failed, its branch at Wadesboro' was entirely solvent. The question at issue is whether the assets of the branch shall be paid first to the creditors of that bank or be distributed among the general creditors of the Bank of New Hanover. Rountree and Martin argued the case to-day for the receivers of the Bank of New Hanover, and Bennett and Lockhart for the creditors of the branch at Wadesboro'. At the time of the failure of the Bank of New Hanover a receiver was appointed. The State Treasurer brought suit, saying that only he could move to appoint a receiver for a State bank. The judge before whom this question was argued decided that the Treasurer was right in his view, and then appointed the same gentleman as receiver. The question is whether the right of the Treasurer in this respect is not as absolute as that of the United States Comptroller of the Currency. State-Treasurer Worth left to-day for Guilford College for a few days' visit. Auditor Ayer has not done any editorial work on Senator Butler's paper since last July. The Senator is doing all the editorial work in person. Auditor Ayer intimated to-day that when the Senator returned to Washington he might again do the work. PUBLIC LIBRARIES. State-Librarian Cobb has completed the preparation of a list of the public libraries in the State. There are forty-five of them, with a total of 200,000 volumes. There is also a private library of 60,000 volumes, in Mitchell county, which is open to the public. The Presbyterian Synod of this State 1s in session at Salisbury, Rev. Dr. J. B. Shearer, president of Davidson College, presiding as moderator. To-morrow the synod goes to the Barium Springs Orphanage to dedicate a new building. The crop of acorns, nuts, and chestnuts is this year a very large one. ANOTHER MODEL VILLAGE. Following the example of James W. Tufts, of Boston, in his beautiful model village, Pinehurst, George Vanderbilt is creating a model village at Biltmore. Cotton is coming into market much more freely. Judge Robinson, of the Superior Court, insists that the Legislature is the only "jury" which can try Otho Wilson's Railway Commission title matter. The Judge does not at all relish the criticlams of the press upon his declination to allow a jury to try this case. There has been frost enough, though light, to wilt and slightly blacken the top leaves of the cotton-plants. The statement that, as a general thing, three-fourths of the cotton crop in this State is picked, appears to be about the correct one. The revenue collections in this district during October were the largest during the incumbency of Collector Simmons$131,000. Next week, at Rockingham, John Evans, the negro in jail here, is to be tried, on the charge of attempting to assault Miss Lily Cole October 23d. Sheriff Smith is here. He says It is generally believed that Evans is the guilty man, but that there is not the excitement about the matter that there was. He says It does not look like there will be any trouble. As there is some doubt as to guilt, it is, of course, a speclal time for the exercise of conservatism. Sheriff Jones, of this county, is informed that feeling in Richmond county is high against Evans. Among to-day's arrivals are W. A. Lash, of Walnut Cove; W. R. Allen, of Goldsboro'.

8. November 4, 1897 The Times Richmond, VA
Article from The Times, November 4, 1897

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NORTH CAROLINA NEWS. THE GOVERNOR BILLED FOR A SPEECH, BUT DID NOT APPEAR. Money Raised for a Monument to Vance. Judge Powell Coming to Kichmond. An Interesting Bank Case. RALEIGH, N, C., Nov. 3.-Special.-On the 11th there is to be a large gathering of ladies here to attend a big missionary meeting. It will be one of the largest gatherings of ladies ever held here. At the negro fair yesterday the Governor was billed for a big speech, but he got on the train and went to Wilmington and did not even send an excuse. Charlotte has raised $4,200 for a monument to Governor Vance. Asheville has already raised a shaft to his memory. Only a few hundred dollars has been secured for a memorial here and but little of that came from the citizens of Raleigh. The old Vance homestead in Charlotte was sold this week for $4,300. Governor Russell is being criticised for granting so many pardons, and also for granting them secretly. Many times a convict has been pardoned and no one outside of the penitentiary has been told. JUDGE PURNELL COMING. Judge Purnell is holding United States Court in Wilmington this week. He opens court here December 6them There are about 100 cases docketed for: the court here. On the 8th of November, Judge Purnell will be in Richmond, Va, to take up the Henzey-Langden case at Chambers. The sale of the Cumnock mines will be either confirmed or rejected. Judge Purnell will make his initial appearance on the Court of Appeals in Richmond. Chief Justice Fuller will preside. The hunting season is fully opened, and partridges are plentiful. A BANK CASE. In the Superior Court here there was today argument heard in an interesting case. When the bank of New Hanover failed, its branch bank at Wadesboro was solvent. The argument was on whether the assets of this branch shall be paid first to the creditors of this bank or be distributed to the general creditors of the Bank of New Hanover. A receiver was appointed when the bank failed, but the State Treasurer said he only had the right to move to appoint a receiver. It was decided he was right. The question to be decided is whether the Judge was right in upholding the State Treasurer's riea. PUBLIC LIBRARIES. There are forty-five public libraries in the State, according to a list prepared by the State Librarian. In these forty-five libraries. there is a total of 200,000 volumes There is also a private library of 50,000 volumes in Mitchell county that is opened to the public. Cotton is being brought in in much larger quantities within the last few days Haynes, who was convicted of murder in the first degree in Columbus county, has had his death sentence commuted to life imprisonment. He is scarcely more than an idiot. Solicitor Seawell, who prosecuted him, forwards a strong pett. tion for this commutation. The crop of acorns. nuts and chestnuts is very large this fall.