836501547 83650
national
4be54c2737ebcc52Capital injected, Full suspension, Books examined
Other: Receivership and appointment of auditors/receiver; state banking department took charge of related small banks and reorganization plans underway.
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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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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 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 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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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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BIG BANK FAILURE Macon. Ga., Nov. Fourth National bank of Macon with capital of $500,000 and resources listed nt more than $11,000,000. closed its doors Morduring run of withdrawals The bank had deposits of around $9,000,000.
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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
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MRS. FRANKLIN NAMED IN SUIT Assessment on Stock Sought by Receiver For Bank Herbert Pearson, receiver of the Fourt National bank of Macon, terday brought action in the U. S. District court here against Mrs. Fannie Boyd Franklin, of Butts county, asking judgment of $1,000, stockholders' on 10 shares of stock. The bank receiver is represented by the law firm of Jones, Jones, Johnston and Russell.
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tion filed Superior court yesterday by Herbert Pearson, receiver for the Fourth National bank of Macon, to recover a $13,400 stock assessment. Mr. Harrold is said to have owned 134 shares of the Fourth National stock when the institution closed its doors in November, 1929. The bank receiver is represented by the law firm of Jones, Jones, Johnston and Russell. STUDENTS TO GIVE SHOW COCHRAN, Ga., Jan. 11.-Students of the Middle Georgia college here will present minstrel Tuesday eveunder the direction of Miss Rachael Tant of Atlanta. Several of the leading men of the city also been asked to participate in the show.
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BANK RECEIVER NAMED IN TWO EQUITY SUITS Herbert Pearson. receiver for the defunct Fourth National bank here, was made defendant in two suits in equity filed in United States district court Tuesday Each action seeks to obtain preferential liens on funds on hand at the bank One asking for brought by Oscar Dooley, trustee for the Bankers Trust company. Atlanta and the other brought by Cochran. liquidator of the Commercial Bank and Trust company. of West Palm Beach. Fla The latter action asked for The notices were served by James Dent. U. marshal
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