11627. Western Carolina Bank (Asheville, NC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 1, 1896*
Location
Asheville, North Carolina (35.601, -82.554)

Metadata

Model
gpt-5-mini
Short Digest
6856d2d0

Response Measures

None

Description

Multiple articles (1903–1904) refer to Col. W. W. Jones as receiver and to the closing/failure of the Western Carolina Bank eight years prior to 1904, indicating the bank had suspended/closed and was in receivership. No article describes a depositor run; events are receivership, court actions, and payments to depositors. Exact failure date not stated; articles imply failure circa 1896 (1904 minus eight years). Bank type inferred as state (no 'National' or 'Trust' in name).

Events (4)
1. January 1, 1896* Receivership
Newspaper Excerpt
The receivers were appointed on the evening of the day the bank failed. ... Col. W. W. Jones, receiver of the Western Carolina Bank, ... the closing of the Western Carolina Bank on Monday ... the receivers were then in control of the bank's affairs and the request was refused.
Source
newspapers
2. April 2, 1903 Other
Newspaper Excerpt
An order has been signed by Judge Hoke directing Receiver Jones, of the Western Carolina Bank, to bring suit against Geo. H. Smathers, of Waynesville, former receiver of the bank. The order provides that the suit shall be for an account and settlement of his receivership.
Source
newspapers
3. June 3, 1903 Other
Newspaper Excerpt
Col. W. W. Jones, receiver of the Western Carolina bank, proposes to bring a suit against the commissioners of Madison county to compel them to issue him new bonds in lieu of the $20,000 in bonds and coupons that he holds at present.
Source
newspapers
4. June 9, 1904 Other
Newspaper Excerpt
Judge Long signed an order instructing Col. W. W. Jones, receiver of Western Carolina Bank, to pay Mrs. Weston the sum of $1,191. ... On the Saturday previous to the closing of the Western Carolina Bank on Monday, Mrs. Weston made a deposit of $1,191 in the shape of a check drawn on the Chemical Bank of New York.
Source
newspapers

Newspaper Articles (6)
1. April 3, 1903 The News & Observer Raleigh, NC
Article from The News & Observer, April 3, 1903

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Article Text

Suit Against Smathers (Special to the News and Observer.) Asheville, N. C., April 2.-An order has been signed by Judge Hoke directing Receiver Jones, of the Western Carolina Bank, to bring suit against Geo. H. Smathers, of Waynesville, former receiver of the .bank. The order provides that the suit shall be for an account and settlement of his receivership. No final accounting has ever been made since the change in receivers by Smathers, and the suit is to determine whether Smathers owes th receivership or the receivership is indebted to the former receiver.

2. April 4, 1903 The News & Observer Raleigh, NC
Article from The News & Observer, April 4, 1903

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Article Text

Suit Against Smathers. (Special to the News and Observer.) Asheville, N. C., April 2.-An order has been signed by Judge Hoke directing Receiver Jones, of the Western Carolina Bank, to bring suit against Geo. H. Smathers, of Waynesville, former receiver of the bank. The order provides that the suit shall be for an account and settlement of his receivership. No final accounting has ever been made since the change in receivers by Smathers, and the suit is to determine whether Smathers owes th receivership or the receivership is, indebted to the former receiver.

3. June 4, 1903 The News & Observer Raleigh, NC
Article from The News & Observer, June 4, 1903

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Article Text

The Boncombe School Troubles. I Asheville, N. C., June 3.-(Special).The attorneys for the school board of the county and city school committee are still endeavoring to reach a settlement of their differences. The difficulty at present seems to be the securing of a bond by the board for the return of the $3,600 involved in the event that the city finally wins the suit at present in progress over said funds. Col. W. W. Jones, receiver of the Western Carolina bank, proposes to bring a suit against the commissioners of Madison county to compel them to issue him new bonds in lieu of the $20,000 in bonds and coupons that he holds at present. The refusal to issue new bonds was based on the claim that face value was not paid for the old issue.

4. June 10, 1904 The News & Observer Raleigh, NC
Article from The News & Observer, June 10, 1904

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Article Text

THE BEE TREE ROAD. Receivers Ordered by Court to Return Check to Depositor. (Special to News and Observer.) Asheville, N. C., June 9.-Work on the Bee Tree Railroad that is to run from Swannanoa Station near Asheville, eleven miles into the Craggy Mountain section, is progressing rapidly, and already over two miles have been graded and crossties laid. The getting out of the timber for the trestle work is also moving rapidly, and when once the laying of the rail has commenced the operation of the road will begin. It was learned today that the company building the road contemplate the operation of an automobile line from the mountain terminus of the road to the top of Craggy Mountain, a distance perhaps of two miles or more, and patrons of the road may at pleasure spend the day on Craggy without having to undergo the tedious trip to the mountain by private conveyance and horseback. In Superior court last evening Judge Long signed an order instructing Col. W. W. Jones, receiver of Western Carolina Bank, to pay Mrs. Weston the sum of $1,191. This is a case of long standing and one that has created considerable interest. On the Saturday previous to the closing of the Western Carolina Bank on Monday, Mrs. Weston was a deposit of $1,191 in nature of a check drawing on the Chemical Bank of New York. Mrs. Weston made demand for the return of the check. but the receivers were then in control of the, bank's affairs and the request was refused. The matter was then taken to the courts and the money ordered paid to Mrs. Weston.

5. June 12, 1904 The Times Dispatch Richmond, VA
Article from The Times Dispatch, June 12, 1904

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Article Text

MRS. WESTON'S CHECK. The Court Allows Her the Principal, But No Interest. (Special to The Times-Dispatch.) ASHEVILLE, N. C., June 11.-In the Superior Court Friday afternoon Judge Long signed an order Instructing W. W. Jones, receiver of the Western Carolina Bank, to pay Mrs. Weston the sum of $1,191, This is a case of long standing and has created considerable interest. On the Saturday previous to the closing of the Western Carolina Bank on Monday, Mrs. Weston made a deposit of $1,191. in the shape of a check drawn on the Chem.cal Bank of New York, The receivers were appointed on the evening of the day the bank failed. Mrs. Weston made a demand for the return of her check, but the receivers who were in control of the bank's affairs, refused the request. The matter was then taken to the courts, Mrs. Weston not only asking for the return of the amount of the check, but also claiming interest from the date of depos t. The interest, which now amounts to something like $500. was not allowed, the Judge's order Isimply instruct the receiver to pay the amount called for by the check.

6. June 16, 1904 Goldsboro Weekly Argus Goldsboro, NC
Article from Goldsboro Weekly Argus, June 16, 1904

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Article Text

Asheville, N. C., June 9.-Special Civil term of superior court adjourned last night and Judge Long returned to his home in Statesville to-day. This is the last court over which he will preside in this district during his term of office. Judge Long has made a most favorable impression here and the lawyers as a unit declare that his rulings were eminently satistactory. Judge Long has issued an order instrue ting the receiver of the Western Carolina bank to pay to Mrs. Weston the sum of $1,191, a sum representing a check deposited by her two days before the failure of the bank eight years ago.