Bank of Greenville (Greenville, MS)

Episode Information

Episode UID
9715410591104
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
971541059 hash
Start Date
December 23, 1891
Location
Greenville, Mississippi (33.410, -91.062)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
ab4951ee307d37c8

Response Measures

None

Description

Reports vary on liabilities (some articles state $500,000, others $1,000,000).

Events (1)
1. December 23, 1891 Suspension
Cause
Local Shock
Cause Details
Successive overflows causing short crops and the low price of cotton weakened the bank's position; chancery court closed bank and receiver appointed.
Newspaper Excerpt
The bank of Greenville, at Greenville, Miss., has suspended. ... President Pollock has been appointed receiver.
Source
newspapers

Newspaper Articles (13)
1. December 23, 1891 Asheville Daily Citizen Asheville, NC
Article from Asheville Daily Citizen, December 23, 1891

Click image to open full size in new tab

Article Text

BANK FAILURE. A Bad Blow to Washington Coun. ty, Mississippi. VICKSBURG, Miss., Dec. 23.-The bank of Greenville, at Greenville, Miss., has suspended. The first intimation of the suspension was the following notice posted on the door of the bank-"Closed by order of the chancer court of Wash ington county. The bank is in the hands of a receiver. The chock of this intelligence was so great that when it reached the circuit court the attendant council told the presiding judge that this failure was such a calamity that no one present was in any condition to transact business, and the court adjourned at once. It is feared that this is but the pre cursor of other financial misfortunes, all the result of the depression in cotton. The liabilities are stated to be $500,000; assets more than that amount,comprising, among others, $150,000 in first mortgages on Washington county securities to the amount of $150,000. The failure is due to the successive overflows, entailing short crops, and to the low price of cotton. The bank has been the financial bulwark of the entire county, being the wealthiest in this state.

2. December 23, 1891 Evening Star Washington, DC
Article from Evening Star, December 23, 1891

Click image to open full size in new tab

Article Text

Suspension of a Mississippi Bank. VICKSBURG, MISS., Dec. 23.-The bank of Greenville, Miss., suspended yesterday afternoon. United States Senator White of Louisiana, representing the Whitney National Bank of New Orleans and other creditors, was in Greenville yesterday. President Pollock has been appointed receiver. The liabilities are stated at $1,000,000. The assets are fully equal to that amount.

3. December 24, 1891 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, December 24, 1891

Click image to open full size in new tab

Article Text

FAILURES. VICKSBURG, Miss., Dec. 23.-The bank of Greenville, at Greenville, Miss., suspended yesterday, and its own president, Mr. Pollack, was appointed receiver. The liabilities are $1,000,000, with assets about the same, consisting of $750,000 in first mort gages on Washington county real estate, $150,000 in county securities, and $100,000 in other securities equally as good. The failure is due to successive overflows runing the crops, and the low price of cotton. The bank was one of the wealthiest in the state. The other banks at Greenville believe that the failed bank's creditors are

4. December 24, 1891 Telegram-Herald Grand Rapids, MI
Article from Telegram-Herald, December 24, 1891

Click image to open full size in new tab

Article Text

FAILED FOR A BIG SUM. Leading Financial Institution of Mississippl Goes to the Wall. VICKSBURG, Miss, Dec. 23. - The bank of Greenville, at Greenville, Miss., suspended Tuesday afternoon, United States Senator White, of Louisiana, representing the Whitney national bank of New Orleans and other creditors. was in Greenville Tuesday. President Pollock has been appointed receiver. The liabilities are stated at $1,000,000. The assets are fully equal to that amount, comprising $75,000 in first mortgages on Washington county real estate and county securities to the amount of $150,000. besides other securities, a total fully equal to the liabilities. The failure is due to two successive overflows, entailing short crops, and to the low price of cotton. It is a well-known fact that the bank has been the financial bulwark of the entire county. the wealthiest in the section for years. The utmost sympathy is expressed for President Pollock. The banks of this city express the belief, based on personal knowledge, that the creditors will be paid in full. Nevertheless the blow is a heavy one to the Yazoo Mississippi delta, the bank'ooperations being by no means confined to Washington county.

5. December 24, 1891 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, December 24, 1891

Click image to open full size in new tab

Article Text

VICKSBURG, Miss., Dec. 23.-The bank of Greenville, of Greenville, Miss., has suspended. President Pollock has been appointed receiver. Liabilities, $500,000, with assets in excess of this amount.

6. December 24, 1891 The Morning Call San Francisco, CA
Article from The Morning Call, December 24, 1891

Click image to open full size in new tab

Article Text

CONDENSED TELEGRAMS. NEW YORK, Dec. 23.-John Chattellon & Sons' scale factory was burned this morning. Loss $115,000; fully insured. KANSAS CITY, Dec. 23.-An ammonia tank in Armour's packing establishment exploded this morning. Four men were killed. TRENTON (N. J.), Dec. 23.-Early this mornIng Cook & Hancock's Crescent Pottery was burned. Loss $100,000, fully insured. VICKSBURG. Dec. 23.-The Bank of Greenville, at Greenville, Miss., has suspended. President Pollock was appointed receiver. Liabilities $500,000, with assets in excess of this amount.

7. December 24, 1891 The Olympia Tribune Olympia, WA
Article from The Olympia Tribune, December 24, 1891

Click image to open full size in new tab

Article Text

TELEGRAPHIC TALES. Jules Simon is dying in Paris. The bank of Greenville, Miss., has suspended. Hon. John A. J. Creswell, postmaster general under Grant, is dead. John Challdon & Sons' scale factory in New York, was destroyed by fire. Loss, $115,000. Fully insured. Samuel D. Warncastle, collector of internal revenue for twenty-third district of Pennsylvania, has been removed for neglect of duty. A fire in Sacramento destroyed Baker & Hamilton's agricultural implement warehouse and all the stock. Loss $155,000, partly insured. Two firemen were seriously injured by an explosion. A cargo of dynamite at Antwerp which was being discharged from a lugger to a lighter explodod, shattering one vessel and sinking the other. Twenty men were killed and injured. The steamer City of Pueblo arrived in San Francisco from Tacoma, and reports being struck by heavy sea off Cape Flattery which badly battered the vessel and shifted her cargo. Three men were severely injured, one having his ribs and arm broken.

8. December 26, 1891 Huntsville Gazette Huntsville, AL
Article from Huntsville Gazette, December 26, 1891

Click image to open full size in new tab

Article Text

BANK FAILURE. One of Mississippi's Soundest Institutions Broke. The Whole State Is Shocked Over the Event. / The Bank at Greenville Closes Its Doors - Surprise and Sympathy Expressed Throughout the State-Court Adjourns on Account of the Occurrence-A Receiver Appointed. VICKSBURG, Dec. 24.-The Bank of Greenville, Miss., has suspended. The first intimation of suspension was the following notice posted on the door of the bank: "Closed by order of the chancery court of Washington county. Bank in the hands of a receiver." The shock of this intelligence was great. When it reached the circuit court, then in session, attendant counsel told the presiding judge that this failure was such a calamity that no one present was in any condition to transact business, and the court adjourned at once. It is feared that this is but a precursor of other misfortunes, all the result of the depression in cotton. President Pollock was appointed receiver. Liabilities stated at $500,000. The assets are more than that amount. Comprising among others $750,000 in first mortgages on Washington county real estate and county securities to amount of $150,000. It is a well known fact that the bank has been the financial bulwark of the entire county, the wealthiest in this state, for years. The utmost sympathy is expressed for President Pollock, whose ability and integrity is distinguished. The banks of this city express belief, based on personal knowledge, that the creditors will be paid in full. Nevertheless the blow is a heavy one, the bank's operations being by no means confined to Washington.

9. December 31, 1891 Wood County Reporter Wisconsin Rapids, WI
Article from Wood County Reporter, December 31, 1891

Click image to open full size in new tab

Article Text

FAILED FOR A MILLION. A Greenville (Miss.) Bank Forced to Close its Doors. VICKSBURG, Miss., Dec. 23.-The Bank of Greenville, at Greenville, Miss., closed its doors at 2 o'clock yesterday afternoon. The bank is in the hands of President Pollock, who has been appointed receiver. The liabilities are stated to be $1,000,000, while the assets are supposed to fully equal that amount. The f ilure is due to the recend depressions in cotton. The general impression among the banks of this city is that the debtors will be paid in full.

10. January 1, 1892 The Weekly Union Times Union, SC
Article from The Weekly Union Times, January 1, 1892

Click image to open full size in new tab

Article Text

ONE OF MISSISSIPPI'S SOUNDEST BANKS Broke.-Vicksburg. Dec. 23.-The Bank of Greenville, Miss., has suspended. The first intimation of suspension was the following notice posted on the door of the bank: "Closel by order of the chancery court of Washing:on county. Bank in the hands of a re. receiver."

11. January 1, 1892 The Weekly Union Times Union, SC
Article from The Weekly Union Times, January 1, 1892

Click image to open full size in new tab

Article Text

The Bank of Greenville, Misissippi, suspended on the 22d Dec. It was considered the sougdest Bank in the State, and its failure caused universal surprise.

12. January 1, 1892 The Weekly Union Times Union, SC
Article from The Weekly Union Times, January 1, 1892

Click image to open full size in new tab

Article Text

ONE OF MISSISSIPPI'S SOUNDEST BANKS BROKE.-Vicksburg, Dec. 23.-The Bank of Greenville, Miss., has suspended. The first intimation of suspension was the following notice posted on the door of the bank : "Closed by order of the chancery court of Washing:on county. Bank in the hands of a rereceiver."

13. January 1, 1892 The Iola Register Iola, KS
Article from The Iola Register, January 1, 1892

Click image to open full size in new tab

Article Text

THE SOUTH. THE famous "Block 97" case, the state of Texas vs. Bacon and Graves, which involves the title to a whole block of land in Scurry county, over 374,000 acres, was recently decided in the district court at Colorado, Tex., in favor of the state. The defendants gave notice of appeal. UNITED States troops had two skirmishes the other night in Texas with Garza's rebel band. The result was not known definitely. It was rumored that the outlaws had federal troops besieged. BILLY MEYERS, "Streator Cyclone," defeated Carroll of Australia in a fortythree round fight in New Orleans the other night. THE Bank of Greenville, Miss, heretofore regarded as one of the richest in the state, has suspended, with $1,000,000 assets and liabilities. JOHN A. CRESWELL, ex-postmastergeneral, died at Elkerton, Md., on the 28d. DR. R. A. KINLOCH, a noted surgeon of Charleston, S. C., is dead. THE notorious Bob Sims' band of outlaws in Choctaw county, Alabama, shot three people dead, mortally wounded two others, wounded three more and burned the house. They proposed to burn other houses. EX-UNITED STATES SENATOR HEREFORD, of West Virginia, died at his home in Monroe county, that state, of pneumonia.