Article Text
Bank Closes Its Doors. Charlotte, N. C., Feb. 10.-As the result of a run of ten days the bank of Dunn. a State institution. today closed its doors. The capital is $22,000; assets. $115,000. Depositors will probably be paid in full.
Bank of Dunn (Dunn, NC)
Episode Information
- Episode UID
93360491250- Episode Type
- Run → Suspension → Closure
- Bank Type
- state
- Bank ID
-
9336049hash - Start Date
- February 10, 1904
- Location
- Dunn, North Carolina (35.306, -78.609)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
79f13fb6a1faba86
Response Measures
None
Description
Another Dunn bank had recently failed, suggesting local contagion.
Events (3)
1.
February 10, 1904
Run
- Cause
- Local Banks
- Cause Details
- Protracted ten-day run; nearby Merchants' and Farmers' Bank had recently closed, indicating local contagion.
- Newspaper Excerpt
- As the result of a run of ten days the Bank of Dunn, a state institution, on the 10th, closed its doors.
- Source
- newspapers
2.
February 17, 1904
Suspension
- Cause
- Government Action
- Cause Details
- Corporation Commission ordered the bank closed and the State Bank Examiner took charge following insolvency report.
- Newspaper Excerpt
- State Bank Examiner J. O. Ellington notified the Corporation Commission ... he finds the Bank of Dunn insolvent, and the commission instructed him to take charge and hold the assets until a receiver can be appointed.
- Source
- newspapers
3.
February 20, 1904
Receivership
- Newspaper Excerpt
- Judge W. R. Allen ... appointed J. C. Clifford, of Dunn, receiver for the Bank of Dunn, which was recently closed by the Commission upon the report of State Bank Examiner Ellington.
- Source
- newspapers
Newspaper Articles (18)
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Article Text
North Carolina Bank Failure. CHARLOTTE, N. C., Feb. 11.-As the result of a run for ten days the Bank of Dunn, a state institution, has closed its doors. The capital is $22,000; assets, $115,000. Depositors will probably be paid in full.
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Article Text
State Bank Closes Its Doors. Charlotte, N. C., February 10,--As the result of a run of ten days the Bank of Dunn. a state institution. today closed its doors. The capital is $22,000: asets, $115,000. Depositories will probably be paid in full.
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Article Text
North Carolina Bank Failure. CHARLOTTE, N. C., Feb. 11.-As the result of a run for ten days the Bank of Dunn, a state institution, has closed its doors. The capital is $22,000; assets, $115,000. Depositors will probably be paid in full.
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WEST AND SOUTH. The doors of the Citizens' national bank, of McGruder, Tex., were closed, with liabilities of $134,603. At Eldora, Ia., E. S. Blydenburg, convicted of killing his wife, has been sentenced to life imprisonment. The Bank of Dunn, N. C., a state institution, after a run of ten days, closed its doors. W. T. White, of Cleveland, O., has been made president of the National Association of Automobile Manufacturers. Whilesitting at his desk in Evansville, Ind., Charles F. Gould, aged 55, editor of the Evening Bulletin, fell dead. The Iowa democratic convention to select delegates to the national convention will be held in Des Moines on May 4. At the age of 60 years, John A. Roche, mayor of Chicago from 1887 to 1889, died suddenly of heart disease. In Chicago a banquet 40 feet under Jackson boulevard, in the Illinois Telephone company's tunnel, was given by the latter to 1,200 guests. At Bedford, Ind., John McDonald, under arrest on a charge of murdering Miss Schafer, collapsed when taken to the scene of the crime. Judge Pratt, of the Waterloo district court, has declared the Iowa antitrust law unconstitutional. The cattle raisers and shippers of the west charge railroads with conspiracy and with making freightrates excessive. Miss Hulda Nelson, in a fit of insanity at Fort Dodge, Ia., killed her mother, a wealthy widow, and then committed suicide.
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Ms the result of a run of ten days the bank of Dunn. N. C., a state institution, on the 10th, closed its doors. The capital was $22,000; assets, $115,900.
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DUNN'S OTHER BANK CLOSED State Bank Examiner in Charge Until Receiver Can be Appointed. (Special to The Times-Dispatch.) RALEIGH, N. C., Feb. 17.-State Bank Examiner J. O. Ellington notified the Corporation Commission this morning that he finds the Bank of Dunn La insolvent, and the commission instructed him to take charge and hold the assets until a receiver can be appointed. It was only a few days ago that the Merchants' and Farmers' Bank, the only other bank of the town, closed its doors and W. A. Stewart was appointed receiver. The president of the Bank of Dunn is L. J. Best and the cashier J. W. Purdle. The capital was $20,000, and the last report showed resources of the bank were $57,075.29; deposits subject to check amounted to $25,144.70, and time certificates of deposit, $2,406.70.
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CAUSED GREAT SURPRISE. Bank Had Ample Cash on Hand to Meet Its Demands. (Special to The Times-Dispatch.) DUNN, N. C., Feb. 17.-It came as a flash of lightning from a clear sky, the announcement that the Bank of Dunn had been closed by the Corporation Commission early this morning. There had been no run on the bank, and It had ample cash on hand to meet Its demands. The cause of the order of the commission closing the bark is not known. The failure of the two banks here in such quick succession has seriously disturbed business conditions, but the energetic citi zens of Dunn are sure that It is only temporary, and they are undaunted.
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Bank of Dunn Goes to Wall. Raleigh, N. C., Feb. 18.-Another bank at Dunn has failed. Last week the Farmers and Merchants' bank there went to the wall after a run for several days and will not resume business. Today the corporation commission directed Bank Examiner Ellington to take charge of the Bank of Dunn. The bank's last report to the corporation commission is dated Jan. 22 and showed liabilities aggregatin $62,545.
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As the result of a run of ten days the bank of Dunn, N. C., a state institution, on the 10th, closed its doors. The capital was $22,000; assets, $115,000.
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Article Text
After a run of ten days the Bank of Dunn, N. C., a state institution, closed its doors. Winsor T. White, of Cleveland, O., has been made president of the National Association of Automobile Manufacturers. Baltimore decided to ask for federal troops to patrol the fire-swept district, as the militiamen are needed by their employers in the effort to save business. Mayor McLane decided not to ask for outside aid at present. Secretary Taft told the house committee on insular affairs that slavery had been abolished in the Philippines by legislative action taken there. Charles F. Gould, aged 55, editor of the Evening Bulletin, fell dead while sitting at his desk in Evansville, Ind. Ice gorges in the Susquehanna river were causing great damage at Wilkesbarre, Pa., and other places. Paul Misik, convicted of the murder of Charles O'Brien, was hanged at Hartford, Conn. The Equitable national bank of New York city closed its doors, with deposits of $395,273. A banquet forty feet under Jackson boulevard, in the Illinois Telephone company's tunnel, was given by the latter to 1,200 guests in Chicago. James McDonald, under arrest at Bedford, Ind., charged with the murder of Miss Schafer, collapsed when taken to the scene of the crime. The Iowa antitrust law has been declared unconstitutional by Judge Pratt, of the Waterloo district court. Cattle raisers and shippers of the west charge railroads with conspiracy and with making freight rates excessive. President Roosevelt issued a proclamation, insisting that the citizens of the United States maintain strict neutrality in the Russo-Japanese war. August W. Machen in the postal trial in Washington concluded his testimony and the defense announced that it rested its case. In a fit of insanity at Fort Dodge, Ia., Miss Hulda Nelson killed her mother, a wealthy widow, and then committed suicide. Harlan W. Whipple, of Chicago, has been elected president of the American Automobile association. Two children, aged three and five years, of John E. Butler, were cremated in his home at Superior, Wis. Continued cold weather is a bar to spring trade in the west. Charles E. Kruger was hanged at Greensburg, Pa., for killing Constable Harry Bierer on July 9 last. At Syracuse, N. Y. the American exchange national bank closed its doors with liabilities of $500,000. Three students were expelled from McAllister university at St. Paul for hazing another student. Twenty-five independent tobacco manufacturers formed a league at a Boston meeting to fight the alleged combine. The South Carolina legislature has established a state department of commerce and immigration to secure desirable settlers. Secretary Hay's note regarding the integrity of China makes Washington the center of the world's diplomacy regarding the Russo-Japanese war. Baltimore will gain a more modern business district through the fire, according to the plans now being prepared. The banks have resumed operations and great progress was made in clearing the streets. A Great Northern passenger train at Pennock. Minn., collided with a freight train and four persons were killed.
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WEST AND SOUTH. Burglars dynamited the safe of a bank at Ravia, I. T., and secured $1,700. The governor of Illionis has issued a proclamation fixing April 22 as Arbor and Bird day. In a collision at the Southern railway crossing at Waterloo, Va., four persons were killed. At Steubenville, O., four men were crushed to death by the caving in of a pile of iron ore at a mine. The death of Philip Keifer, a wealthy retired manufacturer, occurred in Dayton, O., aged 102 years. The doors of the Citizens' national bank, of McGruder, Tex., were closed, with liabilities of $134,603. At Eldora, Ia., E. S. Blydenburg, convicted of killing his wife, has been sentenced to life imprisonment. The Bank of Dunn, N. C., a state institution, after a run of ten days, closed its doors. W. T. White, of Cleveland, O., has been made president of the National Association of Automobile Manufacturers. While sitting at his desk in Evansville, Ind., Charles F. Gould, aged 55, editor of the Evening Bulletin, fell dead. The Iowa democratic convention to select delegates to the national convention will be held in Des Moines on May 4. At the age of 60 years, John A. Roche, mayor of Chicago from 1887 to 1889, died suddenly of heart-disease. In Chicago a banquet 40 feet under Jackson boulevard, in the Illinois Telephone company's tunnel, was given by the latter to 1,200 guests. At Bedford, Ind., John McDonald, under arrest on a charge of murdering Miss Schafer, collapsed when taken to the scene of the crime. Judge Pratt, of the Waterloo district court, has declared the Iowa antitrust law unconstitutional. The cattle raisers and shippers of the west charge railroads with conspiracy and with making freight rates excessive. Miss Hulda Nelson, in a fit of insanity at Fort Dodge, Ia., killed her mother, a wealthy widow, and then-committed suicide
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Application for Receiver. The Corporation Commission last night forwarded to Judge W. R. Allen, at Winston, an application for the appointment of a receiver for the Bank of Dunn, recently closed by the Commission upon report of State Bank Examiner John O. Ellington. Mr. W. B. Jones, Jr., of this city, conveyed the Commissioner's application to Judge Allen. The Commission did not name anyone as desired by it for the position. Several have applied for the appointment, and the Commission thinks that by this time the judge has probably been able to make a selection.
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Bank Receiver. (Special to The Times.Dispatcit.) WINSTON-SALEM. N. C., Feb. 20.Judge W. R. Allen, to-day appointed J. C. Clifford, of Dunn, receiver for the Bank of Dunn, recently closed by the Corporation Commission upon report of State Bank Examiner Ellington. Mr. Clifford was recommended by the Corporation Commission,
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MR. J. C. CLIFFORD RECEIVER. Appointed by Judge Allen to Take Charge of the Bank at Dunn. The Corporation Commission yesterday was notified by Judge W. R. Allen, who is holding court at Winston, that he had appointed Mr. J. C. Clifford, of Dunn, receiver for the Bank of Dunn, which was recently closed by the Commission upon the report of State Bank Examiner Ellington. The appointment of the receiver by Judge Allen was in response to the application of the Corporation Commission sent to the Judge at Winston by the hand of Mr. W. B. Jones, of this city. Now Mr. John O. Ellington, the State Bank Examiner, who has been in charge of the bank's affairs since it was closed, will turn everything over to Mr. Clifford.
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Business Failures Jan. 14-Auburn (Ind.) Farmers' bank. 16-Mt. Ayr (la.) Citizens' bank; $450,000. 2-Cleveland (0.) Produce Exchange bank and branches at Belford, Hudson and Defiance. 23-Elkhart (Ind.) Nat. bank. 30-New York, A. B. Baxter & Co., cotton brokers; $2,000,000, Feb. 2-New Orleans, Kirby Lumber Co. and Houston Oil Co Clarksburg (W. Va.) Traders' Nat. bank. )-McGruder (Tex.) Citizens' Nat. bank. 10-New York Equitable Nat. bank Bank of Dunn, N. C. II-Syracuse (N. Y.) Exchange Nat. bank; 15-Pella $500,000. (la.) Savings bank. Tanton &-Opelika (Ala.) bank; $150,000 (Mass.) bank; $600,000. Mar. 2-Le Sueur (Minn.) bank; $95,000. II-Garden Grove and Coin (la.) banks. 18-Daniel Sully, New York cotton king; 21-Lonaconing $17,000,000. (Md.) Savings bank. 22-Riverside (Cal.) bank E. O. Miller, banker, Providence, la National bank of Holdeny Ind. T., suspends opera81-Union tions. Trust, Boston; $1,600,000 Federal Trust, Cleveland; $1,000,000. Apr. 4-Capital Nat. bank, Guthrie, Okla.; $1,033,000 W. B. Mack, New York.
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Business Failures Jan. 14-Auburn (Ind.) Farmers' bank. 16-Mt. Ayr (la.) Citizens' bank; $450,000. 22-Cleveland (0.) Produce Exchange bank and branches at Belford, Hudson and Defiance. 23-Elkhart (Ind.) Nat. bank. 80-New York, A. B. Baxter & Co., cotton brokers; $2,000,000. Feb. 2-New Orleans, Kirby Lumber Co. and Houston Oil Co. Clarksburg (W. Va.) Traders' Nat, bank. 9--McGruder (Tex.) Citizens' Nat. bank. 10-New York Equitable Nat. bank Bank of Dunn, N. C. 11-Syracuse (N. Y.) Exchange Nat. bank; $500,000. 15-Pella (Ia.) Savings bank. 28-Opelika (Ala.) bank; $150,000 Tanton (Mass.) bank; $600,000. Mar. 2-Le Sueur (Minn.) bank; $95,000. 11-Garden Grove and Coin (Ia.) banks. 18-Daniel Sully, New York cotton king; $17,000,000. 2i-Lonaconing (Md.) Savings bank. 22-Riverside (Cal.) bank....E. O. Miller, banker, Providence, la National bank of Holdenville, Ind. T., suspends operations. 81-Union Trust, Boston: $1,600,000...Federal Trust. Cleveland; $1,000,000.
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Business Failures Jan. 11-Auburn (Ind.) Farmers' bank. 16-Mt. Ayr (Ia.) Citizens' bank; $450,000. 22-Cleveland (0.) Produce Exchange bank and branches at Belford, Hudson and De23-Elkhart flance. (Ind.) Nat. bank. 80-New York, A. B. Baxter & Co., cotton brokers; $2,000,000. Feb. 2-New Orleans, Kirby Lumber Co. and Houston Oil Co. Clarksburg (W. Va.) Traders' Nat. bank. 9-McGruder (Tex.) Citizens' Nat. bank. 10-New York Equitable Nat. bank Bank of Dunn, N. C. 11-Syracuse (N. Y.) Exchange Nat. bank; $500,000. (Ia.) Savings bank. $150,000 Tanton Mar. (Minn.) bank; $95,000. 11-Garden Grove and Coin (la.) banks. 18-Daniel Sully, New York cotton king; 2e of Holdenville, Ind. T., suspends opera81-Union tions. Trust, Bocton; $1,600,000 Federal Trust, Cleveland: $1,000,000.