10627. Bank of Wilkes (Wilkesboro, NC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
July 12, 1927
Location
Wilkesboro, North Carolina (36.146, -81.161)

Metadata

Model
gpt-5-mini
Short Digest
1e7de539b89e5d8d

Response Measures

None

Description

Articles from July 1927 describe the Bank of Wilkes as defunct and in liquidation, with a liquidation agent appointed and state Corporation Commission involvement. There is no description of a depositor run; the bank appears closed and in liquidation (permanent closure). Bank charter type not stated in articles, so set as unknown.

Events (3)
1. July 12, 1927 Receivership
Newspaper Excerpt
Liquidation Agent Smith today and stated ... had deposited funds in the bank ... await the liquidation
Source
newspapers
2. July 12, 1927 Suspension
Cause
Voluntary Liquidation
Cause Details
Bank described as defunct and in liquidation; state Corporation Commission involved in winding up affairs.
Newspaper Excerpt
Since steps have been taken, except in the regular way by the State Corporation Commission to straighten out the affairs of the defunct Bank of Wilkes ... depositors in the bank fear ... Liquidation Agent Smith today and stated ... had deposited funds ... await the liquidation
Source
newspapers
3. July 17, 1927 Other
Newspaper Excerpt
the liquidation of the defeunct Bank of Wilkes, the illness of its president, Clem Wrenn, and the chaotic condition in which the county's financial status seems to ... Small groups of interested citizens could be seen today about the closed bank and the county's growing list of notes ... another note ... brought here ...https:// (article discussing aftermath and alleged forgeries related to county notes).
Source
newspapers

Newspaper Articles (2)
1. July 13, 1927 Winston-Salem Journal Winston-Salem, NC
Article from Winston-Salem Journal, July 13, 1927

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Article Text

News From Northwest North Carolina Towns and Counties Wilkesboro People Seek to Punish Those Responsible for Bank Failure Many Think Clem Wrenn Is Well Enough to Reand Assist in Work Teachers Lose Deed for Roaring Gap Property Recorded By HAMPTON Wilkesboro, July 12-Since steps have been taken, except in the regular way by the State Corporation Commission to straighten out the affairs of the defunct Bank of Wilkes or to bring any of its officials to place of accounting for their stewardship, so to speak. depositors in the bank fear left for their and the desirous knowing they are ting anxious ing some person set sons in keeping things hushed Sells House It argued Wrenn of able straighten known that he his and Roaring Mrs Mamie lem: that the deed was written June by Mrs. June was and was last office Register Alleghany June The for sold been reported around The other uable noted transfer more than written there Teachers Hit Many some of going had they how much their funds they man came Liquidation Agent Smith today and stated had deposited funct bank for keeping some government papers, supposedly matters to That cation the There hundreds had the money hey possessed in bank await the and liquida tion File Judgments Today office of Clerk of Superior Court Stroud the assessment against in the bank The State Banking Law paragraph page the ration days from the of the filing of the notice the taking of any bank. in the Court the Corporation may levy equal stock liability of each stock holder the bank and shall the office the Clerk of the Superior Court, which shall be recorded in dexed as and have the judgment the Court of this State and the and and stance of Commis sion. issue against the delinquent said sessment be any in against of the State Receipts Rise the Hickory postoffice the fiscal ending 30. 1927 reached total an increase of the previous according to figures mitted by Postmaster H. MHThe receipts the year ending June 30. 1926 amounted The increase was made this year despite the fact that the largest in Hickthe Coast Brand Overall pany, had moved its shipping of. fice to Charlotte

2. July 18, 1927 The Charlotte Observer Charlotte, NC
Article from The Charlotte Observer, July 18, 1927

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Article Text

MONEY TANGLE STIRS Charges and Counter-Charges Fly Over Mystery Notes and Bank Crash. The Charlotte WILKESBORO, July 17.-A quiet here in direct contrast to the hectic days of crage, denial and counter charge that have marked the developments surrounding "he liquidation of the defeunct Bank of Wilkes, the illness of its president, Clem Wrenn, and the chaotic condition in which the county's financial status seems to Small groups of interested citizens could seen today about the closed bank and the county's growing list of notes, of which record. ANOTHER NOTE. Another note for $25,000. said to been given by the county of was brought here by Brown of the firm of Curtis and Sanger York and E. Wrenn. the Rockingham Investment of Reidsville Mr Wrenn is brother of Clem Wrenn and the note is said to have been put through his company by the contains the names of A. Brewer. chairman of the board of H Casey, torney the board the name, Walters" was affixed to secretary to the board The name of the county register of deeds Wallace who is clerk ex-officio to the board FAKE NAME This note said to have been sued March 22. name, B. Walters.' the other officials that the signaare R Dixon and company of Gasthat they hold yet another note: purported to have been issued by the county board of education $25,000. This was issued on December 1926 and due August 1927 Ferguson and M. Crysel been unable to find trace of record of such has the case in four outstanding notes that have been dis. covered The figures now stand at $125,000 of Board of Education notes and $25 board of commissioners outstanding and soon to fall for payment. some them past due, and with no available record the court house showing how the money was spent. claimed that some of the sig. are forgeries and money reached the county coffers.