gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
6326d644733a49f8
Response Measures
None
Receivership Details
Depositor recovery rate
63.3%
Date receivership started
1928-04-19
Date receivership terminated
1936-03-18
OCC cause of failure
Fraud
Share of assets assessed as good
71.8%
Share of assets assessed as doubtful
18.2%
Share of assets assessed as worthless
10.0%
Description
Closure followed discovery of a large cash shortage and the cashier's suicide; receiver later appointed.
Events (4)
1.February 4, 1909Chartered
Source
historical_nic
2.April 19, 1928Receivership
Source
historical_nic
3.April 19, 1928Suspension
Cause
Bank Specific Adverse Info
Cause Details
Discovery of a $234,000 shortage in the bank's accounts and the suicide of the cashier D. M. Ausley.
Newspaper Excerpt
the bank had been closed by the directors ... disclosure that there was shortage of $234,000 in his counts Thursday
Source
newspapers
4.June 9, 1928Receivership
Newspaper Excerpt
C. L. Williams, National Bank receiver, with the U. S. Treasury, has entered upon his duties as permanent receiver for the Commercial National Bank of Statesville, taking the place of J. W. Dalton, who had been acting as receiver since the bank was closed, April 19th.
Source
newspapers
Newspaper Articles (18)
1.April 20, 1928The Macon NewsMacon, GA
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Article Text
Bank Suspended After Discovery Of Big Shortage
STATESVILLE. April M. Ausley cashier of the Commercial National bank. and disclosure that there was shortage of $234,000 in his counts Thursday were followed closely by announcement that the bank had been closed by the rectors Mr. Ausley. who organized the bank 20 years ago. shot himself his hotel room Wednesday few hours after national bank examiners had work on his books The shortage was by Turner. of the bank. The death of Mr. Ausley was lowed closely by the suicide Mrs. Nola Carpenter 44. for several years with the bank and later with the Tarhelia Loan and Investment company. Mrs. Carpenter however. had had no connection with the bank during the last few years and her suicide was attributill She resigned as of the loan company several months ago.
2.June 10, 1928The News and ObserverRaleigh, NC
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Article Text
NEW RECEIVER PLACED IN CHARGE OF BANK
Statesville, June 9.-C. L. Williams, National Bank receiver, with the U. S. Treasury, has entered upon his duties as permanent receiver for the Commercial National Bank of Statesville, taking the place of J. W. Dalton, who had been acting as receiver since the bank was closed, April 19th, the day following the suicide of the cashier, D. M. Ausley. Mr. Williams stated today that an official statement of the condition of the bank will be issued as of June 30th.
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3.June 14, 1928Watauga DemocratBoone, NC
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Article Text
STATE NEWS BRIEFS C. L. Williams, national bank receiver, has been appointed permanent receiver for the Commercial national bank of Statesville, which has been closed since April 19, the day following the suicide of the cashier, D. M. Ausley. The grand chapter of the North Carolina Order of the Eastern Star, opened its 23rd annual convention in Raleigh Monday morning, with the grand matron ,Mrs. Alice H. Parker of Farmvlile, presiding. The sessions will close Wednesday afternoon. Thomas Maslin, former president of the defunct Merchants Bank and Trust Company, Winston-Salem, sentenced at the September, 1927, term of Forsyth superior court to serve from five to eight years in the state prison for embezzling funds, was taken to Raleigh Saturday to begin serving his sentence. He had been at liberty on $15,000 bond, pending the appeal to the higher court. Four deaths and injuries to two small girls resuletd from automobile accidents in the two Carolinas Sunday. Katherine and Dorothy McNeill, 12 and 7, were instantly killed near Lumberton when they ran from behind a car in which they had returned from Sunday school and were struck by a passing automobile. William D. Edwards, 19, of Guilford College, was killed when he was knocked down by an automobile near his home and was run over. T. E. Walters of Lancaster, S. C., died from injuries received early in the day when his automobile crashed near Lancaster, S. C. Raleigh, June 10-Science and religion are partners and the truly scientific man and the Christian man are the best friends in the world, said Dr. E. Y. Mullins, president of the Southern Baptist Theological seminary, in a sermon here tonight. "Science cannot get rid of the reflection of God in man's nature, neither can it get rid of the conviction of God in man's mind," he said. "That is, science cannot get rid of conscience. Man can control his thoughts, emotions, will, but he cannot control his conscience. Science cannot destroy the experience of God in man's life, neither can it get rid of the revelation of God in Christ Jesus."
4.June 14, 1928Watauga DemocratBoone, NC
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Article Text
STATE NEWS BRIEFS
Williams. national bank receiver. has been permanent the Commercial national bank of Statesville, which has been closed since April 19, the day following the suicide of the cashier, Ausley. The grand chapter the North Carolina Order of the Eastern Star, opened its 23rd annual convention in Raleigh Monday morning, with the grand matron Mrs. Alice H. Parker presiding. The sessions will close Wednesday afternoon. Thomas Maslin, former president of the defunct Merchants Bank and Trust Company, Winston-Salem, sentenced at the September, 1927, term of Forsyth superior court serve from five eight years in the state prison for embezzling funds, was taken Raleigh Saturday to begin serving his sentence. He had been liberty on $15,000 bond, pending the appeal the higher court. Four deaths and injuries two small girls resuletd from automobile accidents the two Carolinas SunKatherine and Dorothy McNeill, 12 and were instantly killed near Lumberton when they ran from behind car which they had turned from Sunday school and struck passing automobile. William Edwards. of Guilford College, was killed when he was knocked down by automobile his home and run over. Walters of Lancaster, died from injuries received early in the day when his automobile crashed near Lancaster, Raleigh, June and religion partners and the truly scientific man and the Christian are the best friends in the man world, said Dr. Mullins, president of the Southern Baptist Theological seminary, in sermon here tonight. "Science cannot get of the reflection of God in man's nature, neither can get rid of the conviction of God in man's mind," "That is, science cannot conscience. Man can control his thoughts, emotions, will. but cannot control his conscience. Scicannot destroy the experience of God in man's life, neither can rid of the revelation of God in Christ Jesus."
Published six afternoons a week and Sunday mornIng by The Goldsboro Publishing Company at 105 B. James Street, Goldsboro, N. C.
All rights of republication of special dispatches herein are also reserved.
Entered at the postoffice in Goldsboro, N. C., as second class-mail matter.
Tuesday Afternoon, October 29, 1929.
BANKS ARE SAFE
Former directors of the National Bank at Fayetteville have been charged with gross negligence and violation of the National Banking Act. At New Bern, a United States bank examiner and his assistant are in charge of the First National Bank, which failed to open its doors last Saturday. At Statesville, capiases were asked in Federal Court yesterday for officers of the Commercial National Bank of Statesville, which closed its doors a year and a half ago. In the Statesville case, a grand jury is reported to have found that false entries, overdrafts, and other acts leading to a shortage in the accounts of the bank had been committed. The ugly tongue of rumor is declared to have caused the trouble at New Bern through causing a run on the bank by whispering it was not safe. And at Fayetteville it is charged that directors of the bank violated the law by making loans of the bank's funds to themselves and approving loans made to concerns in which they had an interest. They are also charged with failing to make proper examination into the affairs of the bank at regular intervals. The three cases give interesting example of the ills from which banks may suffer-criminality, outside gossip, and insufficient attention to what is correct and necessary in the conduct of such institutions. Losses in all the cases are of far great. er effect than failure of ordinary commercial enterprises because such a number of people in the community and the general trust and mutual credit of the community are involved. Bankers carry a responsibility greater than those of most people. Proof that most of them carry it well is found in the small proportion of banks, as compared with other kinds of business, which get into trouble. stocks without any careful consideration of how much dividends the individual stocks actually paid or any of the other things which would be considered by a man or woman putting out money so as to receive an income from it over a number of years. Main Street first over-expanded the stock market and then exploded it. Wall Street tried to save the fragments. The fact that Wall Street saved the fragments for itself merely indicates that most Wall Streeters have more sense and knowledge about stocks than most Main Streeters. That is the truth that hurts.
SUBSCRIPTION IN ADVANCE Delivered by Carrier: One Year $8.00 Six Months 4.00 Three Months 2.00 One Month .70 By Mail In Wayne, Johnston, Sampson, Duplin, Lenoir, Greene, and Wilson Counties One Year $6.00 Six Months 3.00 Three Months 1.50 One Month .60 Outside of Counties Named One Year $8.00 Six Months 4.00 Three Months 2.00
6.January 21, 1932The News and ObserverRaleigh, NC
Article Text
COMPROMISE REACHED IN HARD FOUGHT CASE
Receiver of Closed Bank Sues Hotel Company On Unpaid Notes
Statesville, Jan. the end of hard fought legal battle United States District court here, the case the receiver of the Commercial National Bank against the Henkel Hotel Company was settled this afternoon but the exact terms will not be made known until in open court tomorrow morning. The original claim of the defunct bank receiver against the hotel company was on notes alleged have been unpaid, aggregating $50,000. The plaintiff suited $30,000 of these notes during trial. The late Ausley, cashier of the defunct Commercial National Bank, whose doors closed next day after Ausley's death April 18, 1928, was at the same time treasurer of the hotel company, of Vance Hotel. Following the closing bank number notes of the hotel company were found the late cashier's desk and vaults the bank with evidence they had been paid. In ting up claim $37,000 the hotel company alleges that D. M. Ausley, as secretary hotel company, used funds of that coming into his for the benefit of the and that the hotel company received no Its acount. By the terms of the agreement in case the trial will be terminated Thursday with agreement by coun sel either side. number of other cases in which the defunct Commercial National Bank is plaintiff snd local citizens are defendants are the calendar for trial later this week.
7.December 9, 1932Kingsport TimesKingsport, TN
Article Text
Bank Receiver Drops From Sight
STATESVILLE, N. C., Dec. 9. (AP)—A national bank receiver who disappeared three hours before he was to have turned his office over to another, was the object of a widespread search today.
Although secrecy marked the affair, it was learned that the department of justice has been called in to aid in the hunt for Earl W. Jones, receiver of the Commercial National Bank of Statesville.
8.December 9, 1932Kingsport TimesKingsport, TN
Article Text
Although secrecy marked the affair, it was learned that the department of justice has been called in to aid in the hunt for Earl W. Jones, receiver of the Commercial National Bank of Statesville.
At 9 a. m. Monday Jones drove out of a filling station after filling his automobile with gasoline. He has not been seen in Statesville since. At noon he was to
Bank Receiver Missing By Associated Press STATESVILLE, N. C., Dec A national bank receiver who disappeared three hours before he was to have turned his office over to another, was the object of widespread search today It was learned that the Department of Justice has been called in to aid in the hunt for Earl W. Jones, receiver of the Commercial National Bank of Statesville.
10.December 10, 1932The ItemSumter, SC
Article Text
Bank Receiver Is Missing Today
Statesville, Dec. No word had been received today of the whereabouts Earl Jones, bank receiver. disappeared from Statesville Monday Jones, for years recevier the National Bank Statesville, was last seen shortly before he to have gone his duties with W. H. Spradlin sent to Jones The the general said Spradlin made receiver because of reduced He also bank Winston-Salem Elkins
Police Continue Hunt For Jones
Dec. word had been today of the Earl bank receiver. disappeared from Statesville Monday Jones, for two years receiver of the National bank of Statesville, was last shortly before he gone his duties with H. Spradlin, sent to relieve Jones The office the comptrollergeneral at Washington said Spradlin was receiver economy because reduced work. He receiver of bank WinstonSalem and one at
12.December 14, 1932The Charlotte ObserverCharlotte, NC
Article Text
MORE ABOUT
BANK RECEIVER
STARTS ON SECOND FRONT. clients of Hugh Mitchell, attorney for the Jones family, informed him that they saw Mr. Jones on highway No. 10, apparently headed toward Asheville, about o'clock that afternoon.
At that time, the women told Mr Mitchell, Mr. Jones was in front of the automobile apparently examinIng the front of the machine. The place where he was seen is about seven miles from Statesville. Police in the larger cities of the state have been asked to conduct TURKEY search for the missing man and the automobile he was last seen in. Mr. Jones, who sang in the choir DINNER of the First Presbyterian church, was described as being five feet eight inches tall, weighing 175 35c pounds, and having sandy hair. When last seen he was wearing dark blue suit, light felt hat, black shoes, and salt and pepper colored Fith Floor top coat. He took no extra clothing or toilet articles with him, Mrs. Dining Room Jones said. Close friends here are of the opinion that Mr. Jones is in seclusion in remote section of the mountains of western North Carolina, following such life as Col. Raymond Robins lived during the period he suffered from amnesia. Mr. Mithcell said friend of Mr. Jones reported he had seen the receiver in Altanta, Ga. Authorities there are now checking this report, stated. When the Commercial National bank closed in 1928 Mr. Jones came to Statesville from Wilmington as assistant to Mr. Williams who was acting receiver. Upon the latter's death in 1930, Mr. Jones was appointed receiver HAD APPOINTMENT He was scheduled to have met Mr. Spradlin at the bank about 12 o'clock on the day he disappeared. Mr. Spradlin notified the comptroller of the currency in Washington, who relayed the message to the department of justice in Washington who sent agents into the field to help locate the missing person. check is now being made of the bank's books. which is expected to be completed today, it was stated.
13.December 23, 1932The Atlanta ConstitutionAtlanta, GA
Article Text
STATE ORDERS ARREST OF BANK RECEIVER
District Attorney Frank C. Patton, Morganton. said here today he had ordered arrest of Earl W. Jones, former Statesville bank receiver, pending audit of his books and that he "probably will charged with violation of his trust. Jones, under arrest in Wilmington, where he was found days ago after having Decem5. was receiver the Commercial National bank of Statesville.
14.December 23, 1932Statesville Record and LandmarkStatesville, NC
Article Text
Patton Declines Comment on Instruetions on Jones
Morganton, Dec. United States attorney for western district of North Carolina, declined to last night his instructions to New Hanover county officers to hold Earl W. Jones former receiver for the Commercial National bank at Statesville, who missing for two weeks.
15.December 26, 1932News and RecordGreensboro, NC
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IN HOSPITAL
Bank Receiver to Be Very III. rey of Detroit island. receiver of the National Tomorrow bank of Statesville, released bond last in hope on charges of probably and embezzlement of placed in hospital here early today. condition was of his family en route home. New York, Dec. discovered Wilmington ing physicians physicians said he was the rymore, mental trouble. Pre- leave her missing for two She has been
16.December 27, 1932The Charlotte ObserverCharlotte, NC
Article Text
EARL JONES VERY ILL
Former Banker Receiver Taken Hospital.
STATESVILLE, Dec. Earl former bank in hospital here day and described seriously Jones became relatives said, route home Saturday night. He had been under $5,000 bond from the counfor appearcourt April for misapplying and funds. was specifically charged with taking some $1,600 small sums from Commercial National bank while its receiver here in 1931 and 1932.
17.February 1, 1933News and RecordGreensboro, NC
Article Text
COST BIG ITEM. Creditors the Commercial National Statesville, which closed doors April 18, 1928, are wondering whether the economy government can't be applied to the settlement the businational banks. The report receiver of December 31. 1932, shows that there been lected disbursed to creditors them, per There in the the receiver troller of the currency cash and the uncollected assets and stock subscriptions total The set great store near million uncollected debts. Their attention centered time the fact officials the government had on the salvaging job for little more than four years and eight months the time the report and that the salvaging cost them at the rate of proximately year. At same rate cost the remainder the collections, any may be largethe has been lifted. Figures for comparative such cases. affairs the were in more usual no doubt. But that is considered excessive and creditors ready join in mand bank reform that liquidation banks prevails, foundation, receiverships expensive. The notion that those handle the affairs have too interest the that they proceed the theory that creditors anyhow the should liberal the yield. must mind, that the salvaging are the supervision the of the United States and cost are made approval higher where reform must begin there any reform. CLARK.
18.April 25, 1933The Charlotte NewsCharlotte, NC
Article Text
Trial Of Former Bank Receiver Is Continued
Statesville, April 25.-(P)-The case against Earl W. Jones, charged with misapplication of funds from the Commercial National bank here while acting as receiver recently. was continued in federal court here until October because of Jones' physical condition
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
