10947. Clarksdale Bank & Trust Company (Clarksdale, MS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
January 25, 1896
Location
Clarksdale, Mississippi (34.200, -90.571)

Metadata

Model
gpt-5-mini
Short Digest
680e5cf4

Response Measures

None

Description

Articles (Jan 25–31, 1896) report the Clarksdale Bank and Trust Company made a partial assignment to Walter P. Holland; this indicates a failure/closure (assignee named) rather than a mere temporary suspension. No run or depositor agitation is reported. Classified as suspension leading to closure with an assignee (receivership-like).

Events (2)

1. January 25, 1896 Receivership
Newspaper Excerpt
The Clarksdale Bank and Trust Company... made a partial assignment to Walter P. Holland this morning.
Source
newspapers
2. January 25, 1896 Suspension
Cause Details
Bank made a partial assignment (insolvency/failure) resulting in suspension/closure.
Newspaper Excerpt
The Clarksdale Bank and Trust Company, of Clarksdale, Miss., made a partial assignment to Walter P. Holland this morning.
Source
newspapers

Newspaper Articles (2)

Article from New-York Tribune, January 26, 1896

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Article Text

TROUBLES OF BUSINESS MEN. Memphis, Jan. 25.-The Clarksdale Bank and Trust Company, of Clarksdale, Miss., made a partial assignment to Walter P. Holland this morning. The complete statement of assets and liabilities is not yet known, but it is thought all depositors will be paid. The liabilities to other banks amount to $42,000; Memphis National Bank, $20,000; Continental National Bank of Memphis, $10,000; Mercantile Bank, Memphis, $1,500; Louisville Banking Company, $5,700; Chemical National Bank, New-York, $5,000. It is probable that the amount due depositors will reach $50,000. Columbus, Ohio, Jan. 25.-W. H. Bedine, bank examiner, has discovered $129,000 overdrafts in the Farmers' National Bank of Portsmouth, Ohio, reported closed a few days ago. Chicago, Jan. 25.-The Hogg-Anderson Woollen Company, wholesale dealers in woollens, have confessed judgment for $50,000. Mendota, Ill., Jan. 25.-John Wade. a well-known stock dealer of Lamoille, has made an assignment. Estimated liabilities. $36,000; assets, $13,000. Metamora, III., Jan. 25.-The assignee of Peter Schertz, a banker and grain dealer, who recently failed, made a statement yesterday showing the liabilities to be $102,000 and the assets $80,000. Minneapolis, Jan. 25.-A statement of the assets and liabilities of the City Bank, filed yesterday, shows the assets to be $481,995 and the liabilities $437,313. The bank examiner has discovered that three days before the suspension many thousands of dollars were drawn out in the form of promissory notes. A total of $57,470 was loaned to directors and the total deposits of the stockholders were but $7,500.


Article from The Union Times, January 31, 1896

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Article Text

TELEGRAPHIC TICKS. Gen. Weyler, the new captain-general, has set sail for Cuba from Spain. At Middletown. N. Y., the Deckertown silk mill has been burned; loss, $60,000. At St. Mary's, O., a wagon load of nitro-glycerine exploded, killing Sam Angel, the driver, and two horses. The wagon contained 760 quarts of the explosive. At Columbus, O., W. H. Bodine, bank examiner, has discovered $129,000 over drafts in the Farmers' National Bank of Portsmouth, Ohio. The Stevens Cotton Mill, belonging to the assigned estate of H. S. Shirk & Sons. of Lancaster, Pa., has been completely destroyed by fire. Loss $60,000; insurance $37,000. The English government has agreed upon the plan of a commission to settle the claims of the Canadian sealers seized prior to the sitting of the Paris tribunal of arbitration. There will be an English and American arbitrator who will act with the President of the Swiss republic as third man. At Richmond, Va., the ladies of the Confederate Memorial Society have determined to open formally the Davis mansion as a museum on February 22nd, the anniversary of the inaugnration of Mr. Davis as President of the Confederate States. Joseph Shakespeare, twice mayor of New Orleans, died Thursday, aged 58 years. The Clarksdale, Misa, Bank and Trust Company has assigned. Depositors will be paid. The Orange Jndd Farmer places the value of farm animals in the United States at $1,864,420,000, or $62,139,000 less than in 1894. The heavy decline has principally been in horses and mules.