10976. Bank of Enterprise (Enterprise, MS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 1, 1919*
Location
Enterprise, Mississippi (32.174, -88.822)

Metadata

Model
gpt-5-mini
Short Digest
9bdae403

Response Measures

None

Description

Articles indicate the Bank of Enterprise was already defunct and in chancery receivership by Jan 1920; there is no mention of a depositor run. Attorney General prosecutions mentioned in 1919 imply bank-specific problems that led to failure. Dates of suspension/failure are not explicitly given in the snippets.

Events (2)

1. January 1, 1919* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Article references prosecutions and compelled payments to depositors for failures, implying bank-specific malfeasance or insolvency led to suspension/ failure.
Newspaper Excerpt
Prosecuted violators of our State Banking Laws and compelled the payment of hundreds of thousands of dollars to depositors by those responsible for the failure of the banks, as, for instance, the Union Bank & Trust Company of Meridian and the Bank of Enterprise.
Source
newspapers
2. January 16, 1920 Receivership
Newspaper Excerpt
sale under chancery receivership of the property of the old defunct Bank of Enterprise; the other six were mortgage or Trust Deed Sales.
Source
newspapers

Newspaper Articles (2)

Article from The Grenada Sentinel, July 25, 1919

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Article Text

ROSS A. COLLINS His Record of AchievementsPerformances, not Mere Promises 1. Broke up the Cotten Seed Trust and thereby saved the people of this State millions of dollars annually, besides turning into the Treasury of the State more than $125,000.00. 2. Kept down long-distance telephone rates for five months by suit instituted by him. thereby saving to the people of the State thousands of dollars daily. 3. Kept down monthly telephone rental rates by suit instituted by him, and thereby saved to the people of the State thousands of dollars monthly. 4. Kept the telephone companies from forming a giant telephone and telegraph combination which would have meant greater rates to the public. He also made the said companies pay to the State a penalty of $50,000.00 for such violation of the law. 5. Kept down the price of school books. thereby saving thousands of dollars annually to the parents of the school children of the State. 6. Kept down freight rates and saved the people of the State hundreds of thousands of dollars monthly. 7. Caused the Legislature to establish two rate experts for the benefit of the shipping public and provided for the payment of their salaries from collections made by him. 8. Supported the laboring man in every effort to better his conditions. 9. Kept every passenger train running in Mississippi, and even after rannouncements were made that they would be taken off, and he is the only Attorney General in the United States that did this. 10. Caused the Standard Oil Co. to pay a fine of $60,000.00 for violating the law of the State. 11. Fought for the enactment of the Child Labor Law and other laws in behalf of women and children 12. Fought all efforts of corporations opolize the landa of the State and did more to put farming corporations out of business than all other public officials combined. 13. Sustained against attack the Guaranty of Bank Deposits Law, therebe making depositor's funds safe. 14. Caused to be passed a law prohibiting oil mills from monopolizing the ginning business, and compelling them to dispose of such gius as they owned. other than those located at their plants. He upheld against legal attack the constitutionality of the act. 15. Upheld practically all acts affecting the welfare of the people when attacked in court. 16. Fought and upheld in the courts the law prohibiting manufao turing concerns from working employes more than ten-hours per day. 17. Stopped the railroads from charging passengers a penalty in addition offAre when boarding trains without tickets. 18. Wrote th Meterendum petitions and sens them out at his own expense, citing the public the right to vote on the Fish and Game Lav, and. further, sustained in court the Initiative and Referendur Amendment to the Constitution of the State 19. Has fought profiteering and plundering at the hands of the rich and powerful. crooked interests, and proposed specific legislation to remedy the evil. 20. Prosecuted violators of our State Banking Laws and compellied the payment of hundreds of thousands of dollars to depositors by those responsible for the failure of the banks, as, for in stance, the Union Bank & Trust Company of Meridian and the Bank of Enterprise. 21. Advocated in his reports to each of the last four Legislatures many salutary changes in the statute law of the State, which were enacted. and have proven of vant benifist to the people THE ABOVE CONSTITUTES A RECORD OF PERFORMANCE OT CAMPAIGN PROMISES. HAVE ANY OF THE MEN OP. SING HIM DONE THIS MUCH FOR YOU THEN WHY NOI VE HIM YOUR VOTE AND SUPPORT: He is a unique character in many rs ago. respects. He possesses some distincSince Mr. Copeland's patorate in


Article from Greene County Herald, January 16, 1920

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Article Text

Clarke County shows through its county-seat paper, the Tribute, published at Quitman, the most foreclosure Sales being run at this time that we have noticed. The last number of that paper bad seven such in it. One of them was about a column long and was the sale under chancery receivership of the property of the old defunct Bank of Enterprise; the other six were mortgage or Trust Deed Sales. A man who has a mortgage indebtedness and IS not paying something on it these days of flush money tide, can not blame his creditors for closing III on it, though we recognize that temporarily there might be mitigating circumstances, accounting for a failure to keep up payments. The farmers loan will gradually take the place of a great deal of the mortgage system of this section of the state and with it more liberal terms and lower rate of interest is allowed, but even with that its preferable to travel without borrowing if sufficient capital for operation can be mustered by a squeeze, as its easy to borrow sometimes but nearly always hard to pay back, when pay-day rolls round.