Magee Bank - Magee, MS

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: *
Location: Magee, Mississippi (31.874, -89.734)

Metadata

Model: gpt-5-mini
Short Digest: 143893c4

Response Measures

None

Description

Article (Hattiesburg News, 1911-02-21) reports that the Magee Bank went into the hands of a receiver after discovery of embezzlement by its cashier F. W. Powell (shortage $4,080). No run or depositor panic is mentioned. Date of the suspension/receivership is not specified in the article; the embezzlement occurred 2–3 years earlier. Bank type not stated in the article; small-town name gives no definitive clue so set to unknown.

Events (2)

1. * Receivership

Newspaper Excerpt: the bank went into the hands of a receiver, when the fraud was discovered and Powell arrested.
Source: newspapers

2. * Suspension

Cause: Bank Specific Adverse Info
Cause Details: Embezzlement/shortage by cashier F. W. Powell (shortage $4,080) discovered when bank went into receivership.
Newspaper Excerpt: This went through all right till the bank went into the hands of a receiver, when the fraud was discovered and Powell arrested.
Source: newspapers

Newspaper Articles (1)

1. February 21, 1911 The Hattiesburg News Hattiesburg, MS

Article from The Hattiesburg News, February 21, 1911

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Article Text

a h TWO CASES OF GREAT INTEREST Cattle Rustler Convicted and Sent to Penitentiary-Magee Banker Also Sent Up. Jackson, Miss., Feb. 21.-Two cases of unusual interest throughout the state were decided by the supreme court Monday. For the first time in many years a cattle rustler has been convicted and sentenced to the penitentiary. This man is R. A. Graham, of Lafayette county. Graham was convicted in Lafayette circuit court some months ago of putting his brand on other people's cattle. He hired negroes to do the work and tried to prove an alibi on the In ground. The negroes would cut off the ears of the cattle and put Graham's h brand on them. n SGraham was convicted and sentgenced to three years in the penitenn tiary. He appealed the case to the at supreme court, which affirmed the veridict of the lower court, and Graham nwill have to serve three years at Ranon kin farm. He is said to be well off be financially, and there doe not seem d to be any reason for his act, other than od his desire to acquire riches by a system that has got him into trouble. The other case was that of F. W. ed m Powell, who was convicted of embezof zling the funds from the Magee bank two or three years ago. Powell was nd cashier and had overdrawn his acDr. count. In order to hide this, he made es ne out a bogus deposit slip, which he m charged to another bank. This went through all right till the bank went into the hands of a receiver, when the fraud was discovered and Powell arrested. His shortage was $4,080. He was tried and convicted in Covington circuit court. and appealed to SS the state supreme court. About thirty errors were suggested by the attorneys for Powell, but the supreme court affirmed the decision and Powell must ciserve one year on Rankin state farm ass Powell, who is a young man of neat ion appearance, was in the supreme court onroo mwhen the decision was handed ite down affirming his sentence. He tool esithe matter coolly, and did not seen Carmuch concerned over the fact that h prewould have to go to the state farm. the