10984. Bank of Greenville (Greenville, MS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 23, 1891
Location
Greenville, Mississippi (33.410, -91.062)

Metadata

Model
gpt-5-mini
Short Digest
7b84aa65

Response Measures

None

Description

Multiple contemporaneous newspaper dispatches (Dec 23–24, 1891) report the Bank of Greenville at Greenville, Mississippi, 'suspended' with a receiver (President Pollock) appointed by chancery court. Causes cited are successive overflows, short crops and low cotton prices (local agricultural shock). No article describes a depositor run prior to suspension; the bank was placed in receivership — treated as a closure.

Events (2)

1. December 23, 1891 Receivership
Newspaper Excerpt
President Pollock has been appointed receiver.
Source
newspapers
2. December 23, 1891 Suspension
Cause
Local Shock
Cause Details
Successive overflows causing short crops and the low price of cotton are cited repeatedly as the cause of the suspension.
Newspaper Excerpt
The Bank of Greenville, at Greenville, Miss., suspended yesterday at 2 o'clock. ... Closed by order of the chancery court of Washington county. The bank is in the hands of a receiver.
Source
newspapers

Newspaper Articles (17)

Article from Asheville Daily Citizen, December 23, 1891

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BANK FAILURE. A Bad Blow to Washington Coun. ty, Mississippi. VICKSBURG, Miss., Dec. 23.-The bank of Greenville, at Greenville, Miss., has suspended. The first intimation of the suspension was the following notice posted on the door of the bank-"Closed by order of the chancer court of Wash ington county. The bank is in the hands of a receiver. The chock of this intelligence was so great that when it reached the circuit court the attendant council told the presiding judge that this failure was such a calamity that no one present was in any condition to transact business, and the court adjourned at once. It is feared that this is but the pre cursor of other financial misfortunes, all the result of the depression in cotton. The liabilities are stated to be $500,000; assets more than that amount,comprising, among others, $150,000 in first mortgages on Washington county securities to the amount of $150,000. The failure is due to the successive overflows, entailing short crops, and to the low price of cotton. The bank has been the financial bulwark of the entire county, being the wealthiest in this state.


Article from Evening Star, December 23, 1891

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Suspension of a Mississippi Bank. VICKSBURG, MISS., Dec. 23.-The bank of Greenville, Miss., suspended yesterday afternoon. United States Senator White of Louisiana, representing the Whitney National Bank of New Orleans and other creditors, was in Greenville yesterday. President Pollock has been appointed receiver. The liabilities are stated at $1,000,000. The assets are fully equal to that amount.


Article from Daily Kennebec Journal, December 24, 1891

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CONDENSED DISPATCHES. The Pith of the News Taken from the Current Events of the Day. / James Corbett and Charlie Mitchell signed articles Wednesday afternoon to box six rounds in Madison Square Garden, New York, within seven weeks. A terrific powder explosion occurred Monday right in the Freeman coal mines at Vincennes, Ind. Two miners were blown 60 feet by the concussion, but neither are considered fatally injured. Dartmouth mills, woolen manufacturers, Lawrence, Mass., has assigned. The corperation has a capital of $100,000, and will probably effect as amicable settlement with creditors and continue business. The Bank of Greenville, Miss., surpended Tuesday. It is feared that other failures will follow as a result of the depression in cotton. The bank's liabilities are $500,000; the assets exceed that amount. The last four girl babies born at one time to Mrs. Eigar George st Peru, Md. died Monday night. They were all of average size and well developed, but could not assimilate food and died of starvation. Particulars of new iron flade on Meg's range in Township 58. ranges 16 to 18, Michigan, are just begining to come out, and show that their latest ore discoveries exceed anything yet found in the entire Lake Superior region.


Article from The Wichita Daily Eagle, December 24, 1891

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FAILURES. VICKSBURG, Miss., Dec. 23.-The bank of Greenville, at Greenville, Miss., suspended yesterday, and its own president, Mr. Pollack, was appointed receiver. The liabilities are $1,000,000, with assets about the same, consisting of $750,000 in first mort gages on Washington county real estate, $150,000 in county securities, and $100,000 in other securities equally as good. The failure is due to successive overflows runing the crops, and the low price of cotton. The bank was one of the wealthiest in the state. The other banks at Greenville believe that the failed bank's creditors are


Article from The Morning News, December 24, 1891

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A GREENVILLE BANK FAILS. Its Doors shut Just After the Close of the Day's Business. VICKSBURG, MISS., Dec. 23.-The Bank of Greenville at Greenville, Miss., suspended yesterday afternoon at 2 o'clock. The first intimation of the suspension was the following notice posted on the door of the bank: "Closed by order of the chancery court of Washington county. The bank is in the hands of a receiver." The shock of this intelligence was great. When it reached the circuit court, then in session, the attendant counsel told the presiding judge that this failure was such a calamity that no one present was in any condition to transact business and the court adjourned at once. It is feared that this is but the precursor of other misfortunes, all the result of the depression in cotton. United States Senator White, representing the Whitney National Bank of New Orleans, and other creditors were in Greenville yesterday. President Pollock wasappointed receiver. The liabilities are stated at $500,000. The assets are more than that amount, comprising among others $750,000 in first mortgages on Washington county real estate and county securities to the amount of $150,000. CAUSE OF THE FAILURE. The failure is due to the successive overflows, entailing short crops and to the low price of cotton. It is a well-known fact that the bank has been the financial bulwark of the entire county, the wealthiest in this state, for years. The utmost sympathy is expressed for President Pollock, whose ability and integrity are distinguished. The banks of this city express a belief based on personal knowledge, that the creditors will be paid in full. Nevertheless the blow is a heavy one, the bank's operations being by no means confined to Washington county. The bank was the first ever established in Greenville. Detailed lists of the creditors have not been received, but the Whitney National Bhnk is understood to be the largest creditor.


Article from The Roanoke Times, December 24, 1891

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HAVE A RED LEAD PENCIL? A DISASTROUS BANK FAILURE. I The Bank of Greenville Closes its Doors With $500,000 Liabilities. VICKSBURG, Miss., Dec. 23.-[Special] -The Bank of Greenville, at Greenville, Miss, suspended yesterday at 2 p. m. The first intimation of the suspension was the following notice pasted on the door of the bank: "Closed by order of the chancery court of Washington county." The bank is in the hands of a receiver. The shock of this intelligence was so great that when it reached circuit court then in session, attendent council told the presiding judge that this failure was such a calamity that no one present was in any condition to transact business, and the court adjourned at once. It is feared that this is but the precursor to other misfortunes, all the result of the depression in cotton. United States Senator White, representing the Whitney National Bank of New Orleans, and other creditors were in Greenville yesterday. President Pollock was appointed the receiver. Liabilities are stated at $500,000. The assets are more than the amount, comprising, among others, $750,000 in first mortgages on Washington county real estate and county securities to the amount of $150,000. The failure is due to successive overflows entailing short crops and to the low price of cotton. It is a well-known fact that the bank has been the financial bulwark of the entire country and the wealthiest in the State for years. Utmost sympathy is expressed for President Pollock. whose ability and integrity is distinguished. The banks of this city express the belief, based on personal knowledge, that the creditors will be paid in full. Nevertheless the blow is a heavy one, the bank's operations being by no means confined to Washington county. The bank was the first ever established in Queensville.


Article from Daily Tobacco Leaf-Chronicle, December 24, 1891

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AFFECTS THE ENTIRE COUNTY. The Bank of Greenville, Miss., Forced to Suspend. VICKSBURG, Miss., Dec. 23.-The bank of Greenville, at Greenville, Miss., suspended Tuesday. The first intimation of the suspension was this notice posted on the door of the bank: "Closed by order of the chancery court of Washington county." The bank is in the hands of a receiver. The shock of this intelligence was great. When it reached the circuit court, then in session, the attendant counsel told the presiding judge that this failure was such a calamity that no one present was in any condition to transact business and court was adjourned at once. It is feared that this is but the precursor of other misfortunes, all the result of the depression in cotton. United States Senator White, representing the Whitney National bank, of New Orleans, and other creditors, were in Greenville Tuesday. President Pollock has been appointed receiver. Liabilities are stated at $500,000. The assets are more than that amount comprising, among others, $750,000 in first mortgages on Washington county real estate and county securities to the amount of $150,000. The failure is due to successive overflows, entailing short crops, and to the low price of cotton. It is a well known fact that the bank has been the financial bulwark of the entire county, the wealthiest in the state, for years. The utmost sympathy is expressed for President Pollock, whose ability and integrity are distinguished. The banks of this city express the belief, based on personal knowledge, that the creditors will be paid in full. Nevertheless the blow is a heavy one, the bank's operations being by no means confined to Washington county. The bank was the first ever established in Greenville. Detailed lists of the creditors have not been received, but the Whitney National bank of New Orleans is understood to be the largest creditor. The Hanoverbank, of New York, is also a creditor.


Article from Telegram-Herald, December 24, 1891

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FAILED FOR A BIG SUM. Leading Financial Institution of Mississippl Goes to the Wall. VICKSBURG, Miss, Dec. 23. - The bank of Greenville, at Greenville, Miss., suspended Tuesday afternoon, United States Senator White, of Louisiana, representing the Whitney national bank of New Orleans and other creditors. was in Greenville Tuesday. President Pollock has been appointed receiver. The liabilities are stated at $1,000,000. The assets are fully equal to that amount, comprising $75,000 in first mortgages on Washington county real estate and county securities to the amount of $150,000. besides other securities, a total fully equal to the liabilities. The failure is due to two successive overflows, entailing short crops, and to the low price of cotton. It is a well-known fact that the bank has been the financial bulwark of the entire county. the wealthiest in the section for years. The utmost sympathy is expressed for President Pollock. The banks of this city express the belief, based on personal knowledge, that the creditors will be paid in full. Nevertheless the blow is a heavy one to the Yazoo Mississippi delta, the bank'ooperations being by no means confined to Washington county.


Article from Los Angeles Herald, December 24, 1891

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VICKSBURG, Miss., Dec. 23.-The bank of Greenville, of Greenville, Miss., has suspended. President Pollock has been appointed receiver. Liabilities, $500,000, with assets in excess of this amount.


Article from Richmond Dispatch, December 24, 1891

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A FINANCIAL CALAMITY. The Bank of Greenville, Miss., SuspendsIts Great Local Importance. [By telegraph to the Dispatch.) VICESBURG. Miss., December 23.-The Bank of Greenville, at Greenville, Miss., suspended yesterday at 2 P. M. The first intimation of the suspension was the tollowing notice posted on the door of the bank: Closed by order of the Chancery Court of Washington county. Bank in the hands of a receiver." The shock of this intelligence was great. When it reached the Circuit Court, then in session, the attendant counsel told the presiding judge that the failure was such a calamity that no one present was in any condition to transact business. and the court adjourned at once. It is feared that this is but the precursor of other niisfortunes. all the result of the depression in cotton. United States Senator White, representing the Whitney National Bank of New Orleans, and other creditors were in Greenville yesterday. President Pollock was appointed receiver. The liabilities are stated at $500,000. The assets are more than that amount, comprising among others $750,000 in first mortgages on Washington county real CState and county securities to the amount of $150,000. The failure is due to successive overflows, entailing short crops, and to the low price of cotton. It is a well-known fact that the bank had been the financial bulwark of the entire county-the wealthiest in this State for years. The utmost sympathy is expressed for President Pollock. whose ability and integrity are distinguished. The banks of this city express the belief, based on personal knowledge, that the creditors will be paid in full. Nevertheless, the blow is a heavy one, the bank's operations being by no means confined to Washington county. The bank was the first ever established in Greenville. A detailed list of creditors has not been received, but the Whitney National Bank is understood to be the largest creditor.


Article from The Morning Call, December 24, 1891

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CONDENSED TELEGRAMS. NEW YORK, Dec. 23.-John Chattellon & Sons' scale factory was burned this morning. Loss $115,000; fully insured. KANSAS CITY, Dec. 23.-An ammonia tank in Armour's packing establishment exploded this morning. Four men were killed. TRENTON (N. J.), Dec. 23.-Early this mornIng Cook & Hancock's Crescent Pottery was burned. Loss $100,000, fully insured. VICKSBURG. Dec. 23.-The Bank of Greenville, at Greenville, Miss., has suspended. President Pollock was appointed receiver. Liabilities $500,000, with assets in excess of this amount.


Article from The Olympia Tribune, December 24, 1891

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TELEGRAPHIC TALES. Jules Simon is dying in Paris. The bank of Greenville, Miss., has suspended. Hon. John A. J. Creswell, postmaster general under Grant, is dead. John Challdon & Sons' scale factory in New York, was destroyed by fire. Loss, $115,000. Fully insured. Samuel D. Warncastle, collector of internal revenue for twenty-third district of Pennsylvania, has been removed for neglect of duty. A fire in Sacramento destroyed Baker & Hamilton's agricultural implement warehouse and all the stock. Loss $155,000, partly insured. Two firemen were seriously injured by an explosion. A cargo of dynamite at Antwerp which was being discharged from a lugger to a lighter explodod, shattering one vessel and sinking the other. Twenty men were killed and injured. The steamer City of Pueblo arrived in San Francisco from Tacoma, and reports being struck by heavy sea off Cape Flattery which badly battered the vessel and shifted her cargo. Three men were severely injured, one having his ribs and arm broken.


Article from Huntsville Gazette, December 26, 1891

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BANK FAILURE. One of Mississippi's Soundest Institutions Broke. The Whole State Is Shocked Over the Event. / The Bank at Greenville Closes Its Doors - Surprise and Sympathy Expressed Throughout the State-Court Adjourns on Account of the Occurrence-A Receiver Appointed. VICKSBURG, Dec. 24.-The Bank of Greenville, Miss., has suspended. The first intimation of suspension was the following notice posted on the door of the bank: "Closed by order of the chancery court of Washington county. Bank in the hands of a receiver." The shock of this intelligence was great. When it reached the circuit court, then in session, attendant counsel told the presiding judge that this failure was such a calamity that no one present was in any condition to transact business, and the court adjourned at once. It is feared that this is but a precursor of other misfortunes, all the result of the depression in cotton. President Pollock was appointed receiver. Liabilities stated at $500,000. The assets are more than that amount. Comprising among others $750,000 in first mortgages on Washington county real estate and county securities to amount of $150,000. It is a well known fact that the bank has been the financial bulwark of the entire county, the wealthiest in this state, for years. The utmost sympathy is expressed for President Pollock, whose ability and integrity is distinguished. The banks of this city express belief, based on personal knowledge, that the creditors will be paid in full. Nevertheless the blow is a heavy one, the bank's operations being by no means confined to Washington.


Article from Barton County Democrat, December 31, 1891

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MISCELLANEOUS. UNITED States troops had two skirmishes the other night in Texas with Garza's rebel band. The result wasnot known definitely. It was rumored that the outlaws had federal troops besieged. DENSE fog and severe cold have succeeded recent storms in England. In London business was reported as being almost suspended. PARTS of a vessel believed to be the Cavalier have been picked up off the English coast. It is thought everyone aboard was lost. EDWARD M FIELD has been declared a lunatic before the commissioner of New Jersey. A HEAVY wind and rain storm prevailed on the sound at Seattle, Wash,, on the 23d. IT is reported that the tin plate manufacturers of the country will meet in St. Louis next month and prepare a bill to increase the present duties. THE Bank of Greenville, Miss., heretofore regarded as one of the richest in the state, has suspended, with $1,000,000 assets and liabilities. As the result of the inquiry by Judge of Crimes Foster, of Valparaiso, Chili, four men have been held for the outrage on the sailors of the United States ship Baltimore. The report is very much in favor of the prisoners. THE ravages of yellow fever in Brazil are growing heavier daily. A widespread panic has seized upon the people and all who are able are fleeing to the mountains for safety. ADVICES have been received in Lisbon from South Africa to the effect that while the Cortinhos expedition was en route from Quillimane to Maghamba an explosion of gunpowder occurred by which sixty persons were killed and 170 wounded. NUMEROUS arrests of alleged nihilists have been made in St. Petersburg and Warsaw. Plans of the czar's palace were found on many of them. A DISPATCH says that the steamship Island, of the Danish or Thingvalla line, Cap. Laub, from Stettin, December 4, bound for New York, was ashore at Nidingen. THE St. Petersburg correspondent of the London Times says: "The Russian reserves have received sealed instructions which are not to be opened until a certain signal is given from headquarters. The greatest activity prevails in all the Russian armament works and dock yards." SOME relief has come to the sufferers of Russia by the arrival of grain.


Article from The Worthington Advance, December 31, 1891

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WEST AND SOUTH. IN Iowa the total value of the products for 1891 was $449,897,605. THE firm of Lusk & Co., dealers in canned and dried fruits at San Francisco, Cal., failed for $100,000. THOMAS H. ALLEN & Co., the oldest cotton firm in Memphis, failed for $544,932. ON the Chicago & Alton a special train broke the record between Chicago and Kansas City, making the run of 419 miles in 11½ hours, or at the rate of 45 miles an hour. AN American sailor named Patrick Sheald, who arrived at San Diego, Cal., from Valparaiso, said he was recently arrested by Chilian police without cause and beaten into insensibility. MASKED men entered the jail at DeWitt, Ark., and shot to death J. A. Smith, Floyd Gregory and Mose Henderson. Smith hired Henderson to shoot his divorced wife. AT Waynesborc, Warrenton and Newmarket, Va., private banks closed their doors. A TORNADO at Marshalltown, la, destroyed many barns, uprooted trees and wrecked several houses. The storm traveled in streaks, leveling stalk fields as if by roller. The doors of the bank of Greenville at Greenville, Miss., were closed, with liabilities of $1,000,000. IN Isaac Havens' family near Decr Creek, Ia., five children died from black diphtheria, and the only other child and the father and mother were not expected to live. FIRE ruined the oilcake department of the Union mills in Detroit, Mich. Loss, $150,000. THE steamer West Coast was hauling alongside the wharf at Point Arena, Cal., when her moorings parted, she was driven on a reef and nine of the crew were drowned. AT Peru, Ind., John Mongoza, chief of the Miami tribe of Indians, died suddenly in a saloon. FANNY THOMAS, a colored woman who lived near Portland, Ind., died at the age of 103 years. FRANK Vandewalker completed his fortieth quail in as many days at Ann Arbor. Mich.


Article from The Iola Register, January 1, 1892

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THE SOUTH. THE famous "Block 97" case, the state of Texas vs. Bacon and Graves, which involves the title to a whole block of land in Scurry county, over 374,000 acres, was recently decided in the district court at Colorado, Tex., in favor of the state. The defendants gave notice of appeal. UNITED States troops had two skirmishes the other night in Texas with Garza's rebel band. The result was not known definitely. It was rumored that the outlaws had federal troops besieged. BILLY MEYERS, "Streator Cyclone," defeated Carroll of Australia in a fortythree round fight in New Orleans the other night. THE Bank of Greenville, Miss, heretofore regarded as one of the richest in the state, has suspended, with $1,000,000 assets and liabilities. JOHN A. CRESWELL, ex-postmastergeneral, died at Elkerton, Md., on the 28d. DR. R. A. KINLOCH, a noted surgeon of Charleston, S. C., is dead. THE notorious Bob Sims' band of outlaws in Choctaw county, Alabama, shot three people dead, mortally wounded two others, wounded three more and burned the house. They proposed to burn other houses. EX-UNITED STATES SENATOR HEREFORD, of West Virginia, died at his home in Monroe county, that state, of pneumonia.


Article from Perrysburg Journal, January 9, 1892

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BUSINESS FAILURES. Jan. 13-E. H. Amidon, dry goods dealer, New York: $697,766. Jan. 16-Stoneboro savings bank and Sandy Lake savings bank, both of Pennsylvania. Jan. 19-American national bank, Kansas City. Mo.: $2,000,000. Jan. 20- State bank of Cawker City, Bank of Downs and Glen Elder bank of Glen Eider, all of Kansas, suspended. Jan. 21-Kawaka City (Kan.) state bank. Jan. 26-Savings bank of Wichita, Kan.; $81,000. Feb. 5-First Arkansas Valley bank, Wichits, Kan.; $120,000. Feb. 12-First national and North Middlesex savings bank, Ayer, Mass. Feb. 19-John D. Knox & Co., private bankers, Topeka, Kan.: $340,000 Union Investment Company, Kansas City; $1,000,000. Feb. 25-Windsor national bank, Windsor, Vt. Mar. 19-J. & A. Simpkinson, boot and shoe manufacturers, Cincinnati; $400.000. United States savings bank, Topeka, Kan., $330,000. Mar. 20-Theodore Schwartz & Co., private bankers, Louisville, Ky.; $500,000. Mar. 24-Washingt n national bank, New York Schall & Downer, bankers. York, Pa. Apr. 2-The John McNabb bank, Eufaula, Ala. Apr. 4-Columbia Iron & Steel Company and Pennsylvania Construction Company, Uniontown, Pa; $1,000,000. May 7-Bank of Allen county at Scottsville, Ky. May 9-Spring Garden national bank. Philadelphia. May 15-People's bank at Knoxville, Tenn. May 22-Hills Shot Company at Memphis, Tenn., $600,000. May 26-Potter, White & Bailey, shoe manufacturers at Boston: $1,000,000. May 27-John Ryan's Sons, wholesale dry g oods, Atlanta, Ga.: $1,000,000. June 4-The City national bank at Marshall, Mich. June 5 - Connell, Hall, McLaster & Co., wholesale dry goods, Nashville, Tenn.; $500,000 The Huntington (Ind.) bank. June 13-Central national bank, Broken Bow, Neb. June 10-Sevill Scofield, woolen manufacturer at Manayunk, Pa.: $800,000. June23-The Florence national bank, Florence, Ala., and Sax Brothers' savings bank, Nashville, Tenn. July 7-Moses Bros., bankers, Montgomery, Ala; $500,000. July 8-Bank of Commerce, Sheffield, Ala. July 14-E. C. Stark, banker at Oneida, N. Y.; $220,000. July 16-Spooner R. Howell & Co., lumber dealers, Chicago, and other cities; $2,000,000. July 17-First national bank, Wyandotte, Kan. $1,000,000. July 18-First national bank, Palatka, Fla.; $200,000 Bonneil & Co., printer's ink manufacturers, New York, $100,000. July 21-Central bank of Kansas at Kansas City, Kan.: $100,000 Merchants' national bank, Fort Worth, Tex.: $500,000. July 23-Citizens' bank of Jefferson, Tex.; $100,000. Aug. 4-Abraham Backer, dry goods commission, New York; $4,000,000 Samuel Hano, real estate dealer, Allston, Mass.; $500,000. Aug. 8-Masonic savings bank, Louisville, Ky.; $1,000,000. Aug. 19-Johnston, Tallman & Co., flreworks importers, New York city: $600,000. Sep. 23-S. V. White & Co., New York, commission merchants. $2,000,000. Sep. 30-F. B. Wallace & Co., New York, brokers; $390.000. Oct. 1-First national bank at Clearfield Pa... Chrisman (111.) bank: $100,000. Oct. 3-Turner & Bro., Boston bankers; $300,000. Oct. 5-Ulster county savings' institution, Kingston, N. Y., robbed by officials of $463,000. Oct. 16-State bank at Gritna, Neb. Oct. 17-The Columbia bank and the Bank of Columbia, at Nashville, Tenn. Oct. 23-Bank of Lewisburg, Tenn. $80,000. Nov. 2-Maverick national bank of Boston, suspended; liabilities, $10,000,000. Nov. 7-The Cochrane-Fulton Company, distillers, at Louisvil.e, Ky.; liabilities, $500,000 Bank of Fiorence, Aia.; $100,000. Nov. 7-The Corry (Pa.) national bank closed its doors: $700,000. Nov. 13-California national bank at Santiago, Cal. Nov. 14-Bonner & Bonner, bankers at Tyler, Tex.; $500,000. Nov. 25-Farmers' and Miners' Deposit bank, Irwin, Pa First national bank, Wilmington, N. C. Nov. 28-Field, Lindley, Wicchers & Co., bankers and brokers of New York, $1,000,000. Dec. 22-Private banks at Waynesboro, Warrentown and New Market, Va., closed their doors Thomas H. Allen & Co., cotton dealera, Memphis, Tenn.; $544,932. Dec. 23-Bank of Greenville, Greenville, Miss : $1,000,000.