10552. Raleigh National Bank of North Carolina (Raleigh, NC)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
3389
Charter Number
3389
Start Date
March 27, 1888
Location
Raleigh, North Carolina (35.772, -78.639)

Metadata

Model
gpt-5-mini
Short Digest
86727e3eb1c38799

Response Measures

None

Description

Contemporary articles (Mar 27โ€“28, 1888) report the suspension of the Raleigh National Bank of North Carolina and arrival of an examiner/controller after large funds were reported absconded (cashier/embezzlement). There is no mention of a depositor run or of the bank reopening in these articles; officials were sent to take charge, consistent with a suspension that leads to closure/official takeover.

Events (4)

1. September 7, 1885 Chartered
Source
historical_nic
2. March 27, 1888 Suspension
Cause
Government Action
Cause Details
Reports that bank funds had been absconded/embezzled; Comptroller/examiner dispatched to take charge leading to suspension by authorities or bank officers under regulatory oversight.
Newspaper Excerpt
OFF GONE THE WITH Controller and NATIONAL BANK OFFICERS of the Currency received word this morning that funds of the National Bank of Raleigh, N. C., have absconded with destination Canada. The Examiner and Controller immediately issued to proceed to Raleigh and were to-day ...
Source
newspapers
3. March 28, 1888 Other
Newspaper Excerpt
The announcement of the suspension National Bank of Raleigh to-day, where matters are always regarded with interest. Upon careful inquiry, however, it is learned that none of the banks of this city are sufferers. ... No losses in Petersburg by the Raleigh Bank Suspension- ... (Richmond Dispatch, Mar 28, 1888).
Source
newspapers
4. July 15, 1905 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (2)

Article from Evening Star, March 27, 1888

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Article Text

TO MONEY 3d RIVER 6th PROFESSIONAL page. SPECIAL 6th SUBURBAN SPECIAL SUMMER TRADES RESORT page. THE AKERS- 2d WANTED UNDERT (Board) 2d WANTED (Rooms)WANTED (Situation page. WANTED Houses) page. WANTED WANTED WANTED 4 3 OF AND PAGES STAR TO-DAY'S of and Notes Women the in Council, District The the and Budget, Crown Empero Congressprince, van and &C. News, Mitchell, TO-DAY Internal RECEIPTS nue, customs, $164,614; THE has issued GENERAL directions for Army tarriers shoeing horses. W THE CITY the Among ASHINGTON bills by the igned resterdas afternoon was of the that for the premises providing ington Washingt post-office. is to be to-day better reported he than to of been have the GEN. BARTLETT was yesterday. issued Dis PATENTS as trict smith and follows: W. orson for gasBennett, pressure Thomprogulator the act providing the the for the payment the joint machines. THE PRESIDENT of HAS the funeral resolution not relief now Hot Caroline J. W. Mr. Chief secretary of Justice; of the to waste Interior on and the the act for the Gal force of tion Charlotte CAPTAIN OF THE captain WATCH. of the been watch asked Mon- to watch laher, NEW of Maryland office Department Department take has charge 1s Mr. on Phineas private of the Post and his captain success of the R. He Infantry was a during 1862, day resign, Smith, The of new New WOONSOC York Voluntee in October, in W. the 44 and was months the war, service of thirteen AND NATIONAL INSTITUTION account the runeral of MUSEUM of Institute itution. The after THE a SMITHSONIAN will be Chief closed Justice 80-morrow Waite, on chancellor of Secretary the smithsonian AND GAUGERS following and appoint Chas STOREKEEPER has made Fred the Fischer, Ky. Jas. the Treasury Frank P. Wilson, Covington, Berlin gauger, Center, Woolf, and Jas. Ga Ohio, Factory, ments: A. Goodwin, eeper gaugers, Fuller, and storekeeper gauger. and the has Treasury an envelope Troup CONSCIENCE The contribution of of $10 in Wm. received postmarked conscience Philadelphia, M. has been DIXON Hudgins, Matthews county, Chesterneid Va., County, Va. appointed VIRGINIA POSTMASTERS. postmaster and Chas. T. at Henley at winterpock, been having cavalry, Army has board, retiring of absence. found MAJ. incapacital FRANK BENNETT, for been granted indefinite by an leave Buck, of AN AMERICAN minister MURDERED at Lima, IN Peru, has on the 5th the American Department Mr. of the J. M. Clark, Peruvian authori- matter. state of February, of by Indians. stigation of the capt. ties United have States instituted an Wm. R. Maize, for 20th active in ARMY ORDERS. been found further capacitated orders. capt. fantry. having granted leave until ordered to Fort Wayne, Thos. service. Haskell, 23d infantry, temporary duty been capt. found inB. Robinson for active Detroit, JOS.T.! Mich., 19th for infantry, service, having ordered to proceed capacitated and await retirement. commissioner has of general home COL. WM. LUDLOW, been engaged Engineer by the manager. National fill of Heating the District, Co. in arrangement the capacity that in enable charge him of to Col. the light-houses are this He has office made in of addition the supervisory to Philadelphia those and district. require alLudiow's dutie constant traveling. has Whitney most THE MONITOR TERROR the Secretary Philadel- ironordered the transfer from of Cramp's yard, clad monitor Terror navy .yard at League for nearly Island. fifteen This the phia, vessel to has the been comp at cramp's inpletion, yard and the action of Secretary years awaiting 18 regarded as significant. OFF GONE THE WITH Controller and NATIONAL BANK OFFICERS of the Currency rec cashier ived National of the word FUNDS. this The morning that Bank the of president Raleigh, funds N. C. of have the of abscone the State ded with destination large portion 18 thought instructions to be Canada. to Bank take charge of the bank. bank. The Examiner controller Their immediately Tate to proceed issued to Raleigh and were to-day Senators AMONG Berry, THE PRESIDENT'S with Representatives F. G. CALLERS McLeod, Hot Lehlbac Springs, h, Ark., and Cockrell, Reed and Washington and Mr. D. Harlan. Justice Breckinridge(Ky.) Harlan and his son, Rev. Richard long SPRECKLES, the sugar king. had this a mornCLAUS with commissioner Colman industry in ing, conference relative to the future of commissioner the sugar gave Mr. the Spreckies United the States. facts of The the recent with experiments sorghum, and the by the Agricultural Department he hopes to do with the beet-seed; Mr. Spreckles stated Pacific what coast. Mr. Spreckles stated that 18 now that the beet he has imported will plant 25 in tons the or present season erecting on 2,000 163 farmers acres of land. Watsonville, Mr. Spreckle Cal., to work up of beet this a factory at expects that the output and product, and will reach 5,000 tons, when next asked sugar this year Commit ssioner Colman, If the the year 10,000 this morning tons. by a STAR beet reporter said: "Not sorghum would antagonize is only another string between to our at all. The shall beet have grand wedding enough to bow. sorghum We and beets, and tial ma nufacture festivities but also supply sweets, not a only goodly for share the nup of what we now import. The Case of Capt. Selfridge. ON BOARD THE OMAHA AT PANAMA WITNESSES U. S. S. Omaha, which arrived at the Panama The night, has among its passengers wit Saturday nesses in the case of Capt. Thomas O. Selfridge, as whose trial by purt-martial will take place made. as the necessary preparations can be in soon The charge against him is criminal carelessness to certain shells which failed at first explode that he fired while engaged in target practice gathered near a Chinese town. When group of natives four and around shells they The exploded, captain killing was given his wounding choice of a others. trial in China or in this country, it and is he chose the latter alternative, on account, would have to for thought, of the fact that have it detailed been duty on the sary trial certain officers with whom he


Article from Richmond Dispatch, March 28, 1888

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Article Text

STATE REPUBLICANS. TIMEANDPLACE OF HOLDINGTHESTATE CONVENTION. No Losses in Petersburg by the Raleigh Bank Suspension-A Sheriff IndictedMunicipal Politics. (Correspondence of the Richmond Dispatch.] PETERSBURG, March 27, 1888. The Republican State Committee will meet at the residence of the chairman, General William Mahone, in this city, on Thursday the 29th instant. The obmeeting is to decide of holding the ject time of and the place State as to con- the is to to the vention, national which appoint delegates convention and adopt a party platform. It is said RePetersburg and South publicans Side of that the of the are in favor of holding the convention in Petersburg, but it is also understood that bids for the convention will also be made from other pointsnotably Richmond. The only hall in Petersburg suitable for the accommodation of such a body is the Academy of Music, which up to this time has been virtually closed to political no matter of But a formal assemblages, character. application whatever having been made for the use of the building for the Republican convention a meeting of the directors has been called to consider the matter. The Republican Executive Committee is composed of thirty congressional object from each of members-three district. The Thursday's meeting is primarily, as above stated, to name the time and place of holding the State matters may, tion. informally Other however, conven- be discussed, such, for instance, as the plan to be adopted for party of ganization and government, which has recently been 80 prominently to by the letter of the Wise, front Hon, brought John In this connection it no has stated S. that expression come may be to the public from General Mahone reference to Mr. Wise's lett Whatever in he has said has been committed to the care of his immediate and personal friends. The public are, therefore, somewhat at a loss in the premises, and may be said to be divided in as to purposes and effects of the The the opinion letter. announcement of the suspension National Bank of a sensation here of caused the State decided Raleigh to-day, where North Carolina matters are always regarded with interest. Upon careful inquiry, however, it is learned that none of the banks of this city are sufferers. as none of them had any financial dealings with that bank. At the recent session of the grand jury of Prince George county Sheriff Youngblood was indicted for negligence in allowing the late escape of two negro prisonersi the jail. These fugitives, as announced in the Dispatch, captured in subsequently county and Charles were City returned to prison. The indictiment will come up for trial at the April term of the court, but it is not believed it will come to much. Two well-known young men of this city were before a full bench of magistrates this morning, charged with attempted housebreaking. They were acquitted of the charge. We have had four consecutive days of clouds and rain, with scarcely an interval of sunshine. The ground everywhere is saturated with water, all farming operations are in abeyance, and the streams are high. Mrs. Yager, wife of Captain Yager, of the Richmond and Petersburg railroad, died this morning of consumption, after an illness of several months. She leaves one child. New candidates for the Republican nomination for city offices are springing most is in progress. The electioneering up, and the persistent kind city of convention will probably be held some time next month, and from present pearances will be a lively body. Among the addition to the list of aspirants is colored man for the office of commis. sioner of the get. The does he will hardly revenue-anomination colored brother most of the voting here but gets very few of the good-paying offices. ROBIN ADAIR