Jasper County Bank - Heidelberg, MS

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 4, 1913
Location: Heidelberg, Mississippi (31.887, -88.984)

Metadata

Model: gpt-5-mini
Short Digest: e80e4e77

Response Measures

None

Description

Article (Jan 4, 1913) reports the Jasper County Bank as a defunct institution with a receiver (Receiver Yates) in charge, liabilities exceed assets, cashier disappeared; no mention of a depositor run prior to closure. Classified as suspension leading to permanent closure/receivership (suspension_closure). 'State' chosen because county-named banks were typically state-chartered.

Events (2)

1. January 4, 1913 Receivership

Newspaper Excerpt: to examine the books in the hands of Receiver Yates at Laurel... It is generally believed that all creditors will be paid in full. (Also: The cashier, J. S. Morgan, has not been seen since the receiver took charge.)
Source: newspapers

2. January 4, 1913 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank failure with liabilities (~$50,000) exceeding assets (~$30,000); cashier J. S. Morgan disappeared and is suspected of leaving after taking deposits; insolvency and possible malfeasance led to closure.
Newspaper Excerpt: The depositors of the défunct Jasper County Bank had a meeting Friday afternoon... in the hands of Receiver Yates at Laurel.
Source: newspapers

Newspaper Articles (1)

1. January 4, 1913 The Hattiesburg News Hattiesburg, MS

Article from The Hattiesburg News, January 4, 1913

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Article Text

HEIDELBERG BANK FAILS; CASHIER DISAPPEARS THREE HEAVY LOSERS APPOINTED COMMITTEE BY DEPOSITORS TO EXAMINE BOOKS. Heidelberg, Miss., Jan. 4.-The depositors of the défunct Jasper County Bank had'a meeting Friday afternoon to devise ways and means of getting back their money. R. C. Layton, M. G. Travis and L. B. Ellis, all heavy losers by the bank failure, were appointed as a committee to notify all depositors and other creditors and to examine the books in the hands of Receiver Yates at Laurel. Another meeting is called for Jan. 11, and it is understood that an effort will be made to have the receiver discharged and th creditors paid a percentage of their deposits. It is generally believed that all creditors will be paid in full. The bill filed in chancery shows a liability of about $50,000 and assets at about $30,000. Deavors & Sharbrough of Laurel are solicitors for the receiver. No counsel has yet ben employed by the creditors. The cashier, J. S. Morgan, has not been seen since the receiver took charge. He was last seen going north on No. 6, but is known to have gone south on No. 5 Thursday. It is generally believed that he has left Heidelberg for good, and it is claimed that he accepted deposits up to the very closing of the bank. There is much talk of prosecuting, and the February grand jury will likely return a number of true bills. Every possible effort is being made on the part of stockholders to settle the business. Nearly every man in the First judicial district of Jasper county is affected more or less by the failure.