10506. Merchants & Planters Bank (Milton, NC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 17, 1904
Location
Milton, North Carolina (36.539, -79.209)

Metadata

Model
gpt-5-mini
Short Digest
cfac3aae277e84de

Response Measures

None

Description

Newspaper reports (Nov 17–18, 1904) state the bank examiner declared the Merchants and Planters Bank of Milton insolvent and the Corporation Commission / judge appointed a receiver. No mention of a depositor run; the bank was placed in receivership (closure).

Events (2)
1. November 17, 1904 Other
Newspaper Excerpt
Judge O. H. Allen appointed as receiver Julius Johnson, Esq., of Yanceyville... Mr. Johnson's bond was fixed by the court at $20,000.
Source
newspapers
2. November 17, 1904 Receivership
Newspaper Excerpt
The Corporation Commission appoints Clarence Johnson receiver for the Merchants and Planters Bank, at Milton, Caswell county, which the bank examiner declared insolvent a few days ago.
Source
newspapers

Newspaper Articles (2)
1. November 18, 1904 The Times Dispatch Richmond, VA
Article from The Times Dispatch, November 18, 1904

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Article Text

THANKSGIVING Clarence Johnson Appointed Receiver of a Caswell County Bank (Special to The Times-Dispatch.) RALEIGH, N. C., Nov. 17.-Governor Aycock issued to-day his proclamation for the observance of Thursday, November 24th, as Thanksgiving Day, and urges all the people to "pause and make acknowledgement of the source from whence comes all their blessings. and renew their strength for the accomplishment of better things." The Corporation Commission appoints Clarence Johnson receiver for the Merchants and Planters Bank, at Milton, Caswell county. which the bank examiner declared insolvent a few days ago.

2. November 18, 1904 The News & Observer Raleigh, NC
Article from The News & Observer, November 18, 1904

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Article Text

MR. JULIUS JOHNSON RECEIVER Judge Allen Names Him to Take Charge of Falled Milton Bank. Corporation Commission Rogers returned last night from Wentworth, where he went to apply for a receiver for the failed Merchants and Planters' Bank, of Milton. Judge O. H. Allen appointed as receiver Julius Johnson, Esq., of Yanceyville, a most reellent selection. Mr. Johnson's bond was fixed by the court at $20,000.