Bank of Tarboro - Tarboro, NC

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 25, 1898
Location: Tarboro, North Carolina (35.897, -77.536)

Metadata

Model: gpt-5-mini
Short Digest: 69ed48b815e7239e

Response Measures

None

Description

Article (Mar 25, 1898) describes alleged embezzlement by the cashier Mehegan, discussion of 'assignment' of the bank and expectation that the bank will be 'given up' and a receiver/assignment papers involved. No explicit run is described; the bank appears to be facing closure/assignment because of internal theft, so classified as a suspension leading to closure/receivership.

Events (2)

1. March 25, 1898 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Alleged embezzlement/theft by cashier Mehegan; directors and a letter from the president accuse Mehegan of stealing funds leading to an assignment of the bank.
Newspaper Excerpt: a letter accusing Mehegan having robbed the Bank at Tarboro... the assignment papers... will give up that bank
Source: newspapers

2. * Receivership

Newspaper Excerpt: The assignment papers... thought by that we for put might thirty get days... the hands of a receiver time to the bank... 'will give up that bank.'
Source: newspapers

Newspaper Articles (1)

1. March 25, 1898 The News & Observer Raleigh, NC

Article from The News & Observer, March 25, 1898

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Article Text

THEY CAN'T GIVE BOND AWAITING THE RETURN OF GOV. RUSSELL THE REQUISITION NOT YET GRANTED Hearing of the Bench Warrant Set For of Tuesday--A Letter Accusing Mehegan Having Robbed the Bank at Tarboro. It is now believed that G. the Mehegan defaulting and Ge.. bank officers-James Abberille, Latham-of the may will give up that bank, T. J. or taken any funds from they bank have embezzled assignment. co making an assets to before "The bank has sufficient said Mehegan, its er every liability, "The amount due $6,000 and president, depositors sufficient yesterday only funds about to cover were the amount. drawn there are "The assignment papers who is now by Holton, the attorney He was the bank's athe followed me ne torney prosecuting and had us. a letter from my instruc- funds and awaited where the have and were could tions have all found this out trouble would avoided. in charge been the cashier, Tarboro, was my busi such of Latham, the bank 1 was that in I could statements not leave. of ness being daily he sent bank, me and when the condition I told him to matters the crash Almost came of the regarding have Holton did with me This Holton communica didn't understand. gethe not do. were great disappointed gone. I ou think ting can 'We here promise in regard to find some to Holton him had sensational before some intimation this develop- slander thing ments I think he instituting a the of is over. our intention him of and so trial he fied and feel suit against We are awaiting show that the afof the bank are attempted to escape confident State. fairs time that have we we can We in proper were apprised shape. At no that And re of or the telegrams had been he had quisition conceal papers ourselves. being to sent Tarboro asked. and us difficulty when the officer in finding came and bringing no here.' What was the cause of the assign- withment's Mr. Latham allowed of money the that drawal Why, of a large interest amount and should unable not to have reresulting was there been taken on out. paper We 80 were as to bridge so had over to discount our depression and to the to Latham go the My instructions wall. the hands of a were receiver time to the bank in thought by that we for put might thirty get days. Mehegan's on our I feet account again.' of the This was had nothing to say. It lie in the whole about transaction. tool of Mehegan said Latham are that young he was men, simply business. the of them a married man. Both Mehegan is with years He is old. a large fine Latham looking is fellow, boyish in very swell airs. With his red hair one size and and hang-dog appearance. expression Mehegan he makes has that the look brazen think of Uriah Heep. of the fellow hands shake would hold skin you after and your then health. at the and To see inquire him with would his grand not think airs there Yarborough eheriff's one eye on him of all Sheriff the time. Shelwas Through a the kindness the hotel and not in were jail. ley The they bench are warrant at heard on which before they Judge arrested will be The postponement to allow Clark Tueeday Mr. Joe Martin, of Tarboro, Governor to The be here. fight now is not before and the nothing court be can Governor but before done the until his return, which will hear may be to-night. attorneys and The after his decision off or the in matter the will either he entirely If the Govern- hahands of the court. requisition a the acknowledges the Governor's right beas or corpus will test over the to Georgia authori- by to turn the men bond was fixed ties. Mehegan's at $3,000 and Latham's been at $2,000. Judge Clark Neither of them have yet able to give the bond. here yesterday morn- were The men the arrived 4 o'clock train. They of Edgeing on by Sheriff Shelley. Stalling brought combe county, and Deputies and Wiggans. attorneys, Messrs. Donnell Gilliam, GilTheir of Tarboro, and Henry A. them. liam. Wilson, came here to represent who took of Sheriff Covington, of Georgia, also came the bench warrant to returned Tarboro, to Georgia L. vesterday with the party. afternoon, He leaving Mr. J. C. Harrie to represent him. if the matter comes to a trial, from When does, it is said that a letter the Tarit ever Shackelford, president of evidence Mr. bank, will be put in states that horo against Mehegan. This letter that bank Mehegan was connected with 1897: 1895, to September, from June, after he got into the bank cov- the that soon began to steal its money, and defendant his guilt by false entries banks; ering up accounts with other these fraudulent discharged because of file that he was and that there is now on to the written thefte. confession of Mehegan's directors acknowledging this guilt. Shackelford goes on to say that Mr. was bonded in a safe deposit the Mehegani and he thinks he robbed company bank to pay off the threaten- company and Abbeville get out of the prosecution ed them. Sheriff by Covington says the wrought people up of Abbeville bank are failure, very much and that the trial over be the a very interesting one. While many in will he says he found out that AbbeTarboro the recommendations shown in forof ville by Mehegan and Latham were geries. Governor Russell is expected back to and when he returns the requisiday, tion will be argued before him.