10978. Bank of Friars Point (Friars Point, MS)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
February 19, 1900
Location
Friars Point, Mississippi (34.367, -90.638)

Metadata

Model
gpt-5-mini
Short Digest
94b5b8a9

Response Measures

Full suspension

Other: Affairs placed in hands of D. B. Hebdon as assignee (receiver). Depositors to be paid in full in time.

Description

Newspapers report the Bank of Friars Point suspended operations after unusually heavy withdrawals of deposits in the past few weeks. An assignee (receiver) was named and depositors were to be paid, indicating permanent closure rather than a temporary suspension and reopening.

Events (3)
1. February 19, 1900 Run
Cause Details
Unusually heavy withdrawals of deposits over preceding weeks (depositors withdrawing funds).
Newspaper Excerpt
The cause of the failure was the unusually heavy withdrawals of deposits in the past few weeks.
Source
newspapers
2. February 20, 1900 Receivership
Newspaper Excerpt
The affairs of the bank have been placed in the hands of D. B. Hebdon as assignee.
Source
newspapers
3. February 20, 1900 Suspension
Cause Details
Suspension followed heavy withdrawals and loss of liquidity; bank affairs placed in hands of an assignee (receiver).
Newspaper Excerpt
The Bank of Commerce of Memphis received notice today of the suspension of the Bank of Friars Point, at Friars Point, Coahoma county, Mississippi.
Source
newspapers

Newspaper Articles (3)
1. February 20, 1900 The Age-Herald Birmingham, AL
Article from The Age-Herald, February 20, 1900

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Article Text

Bank Falls Through Memphis, Tenn., February 19.-The Bank of Commerce of Memphis received notice today of the suspension of the Bank of Friars Point, at Friars Point, Coahoma county, Mississippi. The Bank of Commerce was the Memphis correspondent of the Friars Point bank, and while the suspension was a surprise, the Memphis bank loses nothing by the failure, as it is amply insured. The Bank of Friars Point was organized in 1890, since which time it has been prosperous, and President D. A. Scott announces that the depositors will be paid every dollar due them in time. The cause of the failure was the unusually heavy withdrawals of deposits in the past few weeks. The affairs of the bank have been placed in the hands of D. B. Hebdon as assignee.

2. February 21, 1900 Bryan Morning Eagle Bryan, TX
Article from Bryan Morning Eagle, February 21, 1900

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Article Text

Mississippi Bank Fails. Memphis, Feb 20. -The - Bank of Commerce of Memphis, has received notice of the suspension of the Bank of Friars Point. at Friars Point, Coahoma county Mississippi. The Bank of Commerce was the Memphis correspondent of the Friars Point bank. and while the suspension was a surprise, the Memphis bank loses nothing by the failure, as it is amply secured.

3. February 23, 1900 Perrysburg Journal Perrysburg, OH
Article from Perrysburg Journal, February 23, 1900

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Article Text

Bank Suspends. Memphis, Tenn., Feb. 20.-The Bank of Commerce, of Memphis, received notice Monday of the suspension of the Bank of Friars Point, at Friars Point, Miss. The bank was organized in 1890, since which time it has been prosperous, and President D. A. Scott announces that the depositors will be paid every dollar due them in time. The affairs of the bank have been placed in the hands of D. B. Hebdon as assignee.