Accommodated withdrawals, Public signal of financial health, Capital injected, Full suspension, Books examined
Other: Receivership and reorganization efforts (appointment of auditors/receiver, plans to increase capital and reorganize the bank) were undertaken.
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Bank With Assets Above $11,000,000 Is Closed During Run By the Associated Press. MACON, Ga., November 26.-The Fourth National Bank of Macon, with capital of $500,000 and resources listed at more'than $11,000,000, closed its doors at 11 a.m. today during a run of withdrawals.
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NATIONAL BANK AT MACON, GA., CLOSES AFTER HEAVY "RUN" By The Associated Press Macon, Ga., Nov. 26.-The Fourth National Bank of Macon with capital of $500,000 and resources listed at closed its more than $11,000,000, doors m., today during a run of withdrawals.
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BANK CLOSES DOORS Macon, Nov. 26. (AP) The Fourth National bank of Macon, with capital of $500,000 and resources listed at more than $11,000,000, closed its doors at 11 a. m., today during a run of withdrawals. The bank had deposits of around $9,000,000.
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GEORGIA BANK CLOSES. Fourth National bank of Macon. with capital of $500,000 and resources listed at more than $11.000.000 closed ILS doors at 11 a. m. today during a run of withdrawals The bank had deposits of around $9,000,000
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'RUN' CLOSES DOORS OF BANK IN GEORGIA MACON, GA., Nov. 26.-(P)-The Fourth National bank of Macon, with capital of $500,000 and resources listed at more than $11,000,000, closed its doors at 11 a. m. today during run of withdrawals. The bank had deposits of around 9,000,000.
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BANK CLOSES MACON, Ga., Nov. 26.-(P)-The Fourth National Bank of Macon, with capital of $500,000 and resources listed at more than $11,000,000 closed its 11 m. today during a run at of withdrawals.
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Forces Bank Georgia to Close Macon, Nov. 27 the largest banks in Georgia, the Fourth National bank of Macon, was closed today after which also closed a subsidiary bank at Bryson, Ga.
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MACON, GA., BANK CLOSES. MACON, Ga., Nov. 27.-The Fourth National Bank of Macon closed Monday during run. The bank in its last report listed resources totaling in excess of $11,000,000.
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EIGHT BANKS CLOSE IN GEORGIA PEACH BELT Failure of Macon Institution Is Cause of Run on Accounts MACON, Ga., Nov. small closed today as result the failure Monday of the Fourth National Bank Macon, listed resources of more than $11,000.000. With the exception of the CitiBank Fort Valley, talized at the other insti- capiBank Byronville, Irwinton Bank, Bank of Preston, Citizens Bank Company of CulloBank of Bradley, Farmers & Merchants Bank Gordon and Farmers Bank italized from $15,000 to $25,- The institutions closed were heavy Tuesday due financial followed closing the Macon bank. All banks are located in the Geopeach belt. Exact cause the run was conrealed. although financial circles recent investments had turned poorly.
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NINE BANKS CLOSED Eigh Shut After Collapse of One in Macon. By The United Press. Macon, Ga., Nov. 28.-Eight small Georgia banks were closed today as result of the failure Monday of the Fourth National Bank of Macon, with listed resources of more than $11,000,000. With the exception of the Citizens Bank of Fort Valley, capitalized at $100,000, the other institutions. the Bank of Byronville Irwinton Bank, Bank Preston. Citizens Bank Co. of Culloden, Bank Bradley, Farmers &, Merchants Bank of Gordon and Farmers Bank of were capitalized at from $15,000 to $25,000. The institutions were closed after heavy runs Tuesday due to the financial scare that followed closing of the Macon bank. All the banks were located in the Georgia peach belt.
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EIGHT GEORGIA BANKS CLOSED Run on Reserve Agent Is Blamed; Reopening Promised MACON, Ga., Nov. 28.-(P)-The affairs of eight Georgia banks were in the hands of the state banking department today as a sequel to the closing of the Fourth National bank of Macon Monday. The Macon bank was their federal reserve agent. In each case officers assured depositors of protection and announced that reorganization and reopening would be effected as soon as possible. Heavy withdrawals brought about by a "financial scare" over the condition of the Fourth National, were blamed in every instancee. Meanwhile, the directorate of the Fourth National was busy arranging conferences looking toward reorganization and capitalization at $750.000 instead of $500,000 as at present. While officers of the Fourth Natiosal yesterday were issuing a statement which said a two-hour run Monday was due to "baseless rumors connected with the collapse of negotiations for sale of the institution to Atlanta financiers, the city commission was passing a resolution of confidence in its officers and directorate.
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EIGHT MORE BANKS CLOSE IN GEORGIA Failures in Peach Belt Due to Collapse Yesterday of 000,000 Institution. Macon, Ga., Nov. Georgia closed today of the failure Monday of the Fourth National Bank Macon, with tisted resources of more than With the exception of the Citizens Bank Fort Valley, capitalized at $100,000. the other institutions, the Bank of Byronville, Irwinton Bank. Bank of Preston, Bank Company of Culloden, Bank of Bradley, Farmers and Merchants Bank Gordon, and Farmers Bank of Byron were capitalized at from The institutions closed after heavy runs Tuesday due to the financial scare that followed closing of the Macon bank. All he banks are located in the With Clyde Edwards in charge the Fourth Na. tional here, plans under today to affairs so creditors cared Exact cause the run was concircles said investments had turned out poorly.
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EIGHT BANKS CLOSE WHEN ONE FAILS MACON, Ga., Nov. Eight small Georgia banks were closed today as result of the failure Monday of the Fourth National bank of Macon. with listed resources of more than With the exception of the Citizens' bank of Fort Valley. capitalized at $100,000. the other institutions. the Bank of Byronville, Irwinton bank, Bank of Preston, Citizens Bank company of Culloden, Bank of Bradley, Farmers and Merchants' Bank of Gordon, and Farmers' Bank of Byron capitalized at from $15,000 to $25,000. The institutions were closed after heavy runs Tuesday due to the financial scare that followed closIng of the Macon bank All the banks located the Georgia peach belt. Exact cause of the run was con. cealed, although financial circles said recent investments had turned out, poorly.
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EIGHT BANKS IN FLU EPIDEMIC GEORGIA CLOSE HITS FILM FOLK HEAVY MACON HOUSE CAUSED CLOSING OF THE OTHERS MACON. Ga., Nov The affairs of eight Georgia banks were in the hands of the state banking department today as sequel to the closing of the Fourth National bank of Macon Monday. The Macon bank was their federal reserve agent. In each case officers assured depositors of protection and announced that reorganization and reopening would be effected as soon as possible. brought about by "financial scare" over the of the Fourth National. were blamed in every instance. Meanwhile, the directorate of the Fourth National was busy arranging conferences looking toward organization and capitalization instead of $500,000 as present. While officers of the Fourth National yesterday were issuing statement which said two hour run Monday was due "baseless rumors" connected with the collapse of negotiations for sale of the institution to Atlanta financiers, the city was passing resolution of confidence in its officers and directorate HOLLYWOOD. Cal., Nov. 28.-(P) -Thirteen motion picture stars and two directors were confined to their beds today with attacks of influenza. What was described as "mild epidemic" struck the film colony Sunday when Clara Bow and John Gilbert, screen actors were brought down with the disease. Others under physicians' care include Lois Wilson, Monte Blue, Mr. and Mrs. Richard Barthelmess, Mary Philbin, Loretta Young. Sally Phipps, Jean Arthur. Ruth Taylor, William Haines and Buster Keaton, actors, and W. Murnau and Edward In the Metropolitan district of Los Angeles 502 new cases of influenza were reported yesterday, bringing the total for the month to 2,163 cases. Deaths total 41. In San Diego, Dr. E. Lessem, city and county health officer. announced he would issue an order tolay closing the city schools for an indefinite period beginning December because of the prevailence of influenza among the students.
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BARRETT NAMED 8 BANKS CLOSE Interstate Transit Awards Runs Follow Shutdown of Post to Taxi Expert W. Barrett until recently vice manager the De has been appointed the Interstate Inc. announced Wednesday by general passenger public relations director of the comBarrett will be in charge of the Cincinnati and Before associating with the De Luxe Co. last the Zumstein Taxi cab Inc., operates buses between Louis Louisville Larger Institution United GA. small Georgia banks were closed today result failure Monday of Fourth National Bank of Macon. with listed resources of than With exception the Citizens Valley. capitalized the from The closed after due the financial that followed the Macon All are peach Plans under today affairs so creditors could be cared for
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Eight More Georgia Banks Close Today MACON, Ga., Nov. Eight small banks closed today result of the failure Monday the Fourth National Bank Macon, with listed resources of more than $11,000,000. The institutions were closed after heavy runs Tuesday due to financial scare followed closing of the of the Macon bank All the banks were located in the Georgia peach With Clyde Edwards, in charge of audit, and Claude Gilbert an receiver of Fourth named National here, plans were underway affairs so creditors today adjust could be cared for.
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EIGHT GEORGIA BANKS CLOSED MACON. Ga. Nov. Eight small Georgia banks were closed today as result of the failure Monday of the Fourth National Bank of with listed resources of more than With the exception of the Citizens bank of Fort Valley, capitalized $100,000. other institutions. the bank of Byronville and Bank of Irwinton: Bank of Preston. Citizens Bank company of Culloden. Bank of Bradley, Farmers and Merchants Bank of Gordon. and Farmers bank of Byron were capitalized at from $15,000 $25,000 The institutions were closed after heavy runs Tue day due to the financial scare that followed closing of the Macon bank
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Georgia Editors Say DANGER OF FALSE The failure of Middle Georgia open business following closing of the Fourth National Bank of Macon has caused widespread apprehension the part of depositors and just another of what will closing of the Fourth Namors do. tional necessary because of rumor. followed the bank found impossible to assets without shutting its doors. As soon this happened depositors all the surrounding section struck with sudden fear and their various banks closed for safety's Those which closed include the Bank Byromville, capitalized $15,000; Bank Bradley, capitalized $15,000; Bank Preston, capitalized at $15,000; Farmers Merchants Bank of Gordon, capitalized at Citizens Bank Fort Acthe Fort cording Valley the voted Monday. Mr. Martin ing the bank solvent and the was only The bank had the last financial the bank the profits All the other good condition closing and of the presidents declare that they will all re-open within short closings was tributed by the news the closing the Fourth Bank at Macon succession. National the approved agent for other banks and officials are certain the affairs the Macon readjusted all the banks will open good With work, the directors of the National are holding working out plans relieve situation for the the plans being has the ganization bank take over the Fourth National and start This new bank, should organized, would capital stock $750,000. has been shown that the whole affair was brought about through baseless rumor. Such rumors hard suppress once started for there rumor quite interesting positor alleged his bank. The closings reflection upon the financial situation Georgia people other the learn the closings small the will form to the reported state whole starts the original rumor. cases such rumors of some depositors might they about the banking their heads and work to prevent Times HIGHWAY BUILDING Next on the program, matter of course. must be the and means "coming going". Every those days back sandy were the dry days, swollen the the passing the sured, and the lizzie" hailed means being able fifteen miles per hour, including balking cranking up. have seriously in our minds that duty pleasure, boost for roads. and season our voice has been raised for them. Progress though us desire, has outdistanced the accomyet great been the change, the everlasting pleading, and argument acknowledged be necessity the an found accomplish become obsolete. Real roads being temporary construction scorned. The narrow broad And considered speed of dozen years Several organizations polled represenour adherents but they putting thorns our roses. peeved. help highway, refund bond first give We don't any promises, are tired second the first Oh, stand not big don't far big do, gas tax the Fords and far the fellow We objection and contact. Let's play the you. Charlton County Herald.
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DIVIDEND CLAIMS PROVE NUMEROUS Many Depositors Apply for Money at Fourth National Bank There was quite an active demand for the 15 per cent dividend. just announced, at the Fourth National bank," yesterday Receiver Herbert Pearson has reduced the force of employes operating under the receivership to minimum, but in. stead of having one clerk to wait on customers yesterday, as he announced. he placed two clerks at the windows. In that way congestion was relieved. There were not more than dozen or so persons in line at time. yesterday morning. The bank re-opened at 3 o'clock, yesterday afternoon, and continued open until o'clock, but there were
BANK IS DUE FRIDAY Defunct Fourth National to Make Five Per Cent Payment to Depositors Payment of five per cent divi. dend depositors defunct Fourth will begin in old the of Cherry and Third has been M Dudley The amount to be distributed totals stated When this money paid the depositors will have received 80 cent of their deposits the time the closed in 1928 The old bank quarters are being reopened for the distribution of money limited office the office in the First National bank explained All depositors will be quired to present their receiver's certificates show proof claim. The in the old buildwill for ing which as ample for depositors their funds town have mailed notification of the dividend