11689. Clinton Loan Association (Clinton, NC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 27, 1891
Location
Clinton, North Carolina (35.000, -78.332)

Metadata

Model
gpt-5-mini
Short Digest
eb5f4a93

Response Measures

None

Description

Multiple contemporary articles (Nov 27–28, 1891) report the Clinton Loan Association at Clinton, Sampson County, N.C., 'has suspended' and describe it as a small state banking company 'known to be in a shaky condition for some months.' A June 23, 1892 article refers to receiver Dunn winding up the business and stockholders meeting to address indebtedness, indicating the institution remained closed and in receivership (permanent closure). No article describes a depositor run prior to the suspension.

Events (2)
1. November 27, 1891 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Described as 'known to be in a shaky condition for some months' and then suspended; failure appears due to bank-specific weakness rather than rumor or wider panic.
Newspaper Excerpt
The Clinton Loan Association at Clinton, Sampson county, has suspended. It was a small State banking company, with a capital of $50,000, and has been known to be in a shaky condition for some months.
Source
newspapers
2. June 23, 1892 Receivership
Newspaper Excerpt
This will probably guarantee an amount sufficient to cover all indebtedness we are told... put the business in such a shape that receiver Dunn can proceed to wind up the business satisfactorily. (stockholders' meeting to address indebtedness; references to receiver Dunn).
Source
newspapers

Newspaper Articles (11)
1. November 27, 1891 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, November 27, 1891

Click image to open full size in new tab

Article Text

TELEGRAPHIC BREVITIES. The grand jury in New York has indicted Chace, the alleged oplum smuggler. At Lehigh, I. T., yesterday, two unknown men fired into the house of Peter Fleanteau and killed his wife. A Mormon elder by the name of Taylor Is converting the people of Millie, Mich, by the EDORE. An exedus of the population is in progress. A man bss been arreated in B town not far from the scane of the recent Western Union Junction train robbery, and charged with the crime. The Clinton Loan Association at Olinton, N. C., bas suspended. It was a small State banking company, with a capital of fifty thousand dollars. The formation of & tonnage pool, to include all freight between Chicago and the Atlantic seaboard, has been favorably considered by the trunk lines. Mrs. Anthony J. Drezel, wife of the head of the great banking house of Drexel & Co., died this morning at her country house, Bunnymode, Delaware county, Pa. In a glove fight to a finish at Birmingham, Ala., last night, Eugene McElroy, of Birmingham, knocked out Frank Fitzwilliams, of Cincinnati, in the third round. In a Chicago saloon row last night Robert W. Tasker, a laborer, was shot and instant!y killed by I. W. Simon, a son of the proprietor. Young Simon claims that he fired the fatal shot to save his father's life, as Tasker waschoking him. The firm of Field, Lindley, Wiechers & Co., bankers and brokers of New York, RSsigned to-day. The head of the firm is a son of Cyrus W. Field. Assignee Gould, when seen at the firm's office this afternoon, said: "The assignment was made for this reason: Elward M. Field, the senior mem. ber of the firm, has apparently gone dis. tracted."

2. November 28, 1891 The Helena Independent Helena, MT
Article from The Helena Independent, November 28, 1891

Click image to open full size in new tab

Article Text

The Clinton Loan association, at Clinton. N. C., has suspended. It was a small state banking company with a capital of $50,000, and has been known to be in a shaky condition for some months. As it is, the failure has no connection with the suspension of the First National bank of that state.

3. November 28, 1891 The Morning Call San Francisco, CA
Article from The Morning Call, November 28, 1891

Click image to open full size in new tab

Article Text

Loan Association Failure. WILMINGTON (N. C.), Nov. 27.-The Clinton Loan Association at Clinton, Sampson County, has suspended. It was a small State banking company, with a capital of $50,000, and has been known to be in a shaky condition for some months. Its failure has no connection whatever with the suspension of the First National Bank of this city.

4. November 28, 1891 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, November 28, 1891

Click image to open full size in new tab

Article Text

Other Business Troubles. CHICAGO, Nov. 27.-A bill was filed in the circuit court today by M. Lamb and Sarah A., Edith and Virginia Copeland, of Washington City, asking the appointment of a receiver for the American Mining and Smelting Company. an Illinois corporation owning three silver mines in Colorado, on which it has expended nearly $500,000. Complainants assert that in October, 1889, they owned $321,000 of stock, and that by fraudulent manipulations Daniel P. Hells and C. A. Otis have deprived them of their rights. WILMINGTON, N. C., Nov. 27.-The Clinton Loan Association, at Clinton, Simpson county, has suspended. It was 8 small state banking company. with a capital of $50,000, and has been known to be in n shaky condition for some months. Its failure has no connection with the suspension of the First National bank of this city.

5. November 28, 1891 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, November 28, 1891

Click image to open full size in new tab

Article Text

A Loan Association Suspends. WILMINGTON, N. C., Nov. 27.-The Clinton Loan association, at Clinton, Samson county, has suspended. It was a small state banking company, with a capital of $50,000, and has been known to be in a shaky condition for some months. Its failure has no connection whatever with the suspension of the First National bank of this city.

6. November 28, 1891 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, November 28, 1891

Click image to open full size in new tab

Article Text

Loan Association Fails. WILMINGTON. N. C., Nov. 27.-The Clinton loan association at Clinton, Sampson county, has suspended. It was a small state banking company, with a capital of $750,000, and has been known to be in a shaky condition for months. Its failure has no connection with the sussion of the First national bank of this city.

7. November 28, 1891 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, November 28, 1891

Click image to open full size in new tab

Article Text

Clinton Loan Association Suspends. WILMINGTON, N C., Nov. 27.-The Clinton Loan association at Clinton, Sampson county, has suspended. It was a small state banking company with a capital of $50,000, and has been known to be in a shaky condition for somemonths. Its failure has no connection whatever with the suspension of the First National bank of this city.

8. November 28, 1891 The Sun New York, NY
Article from The Sun, November 28, 1891

Click image to open full size in new tab

Article Text

SPARKS FROM THE TELEGRAPH. Two unknown men fired into the honse of Peter Fleautean at Lehigh, 1. T., and killed his wife. The Clinton Loan Association at Clinton, Sampson county. N. c., has suspended. It was a State banking company with a capital of $50,000. The U.R. ship Concord has arrived at St. Thomas. with all well on board. Mail should be addressed for the next twenty days to Barbadoes. Christian K. Ross, father of Charley Ross. says that G. Henry Stratton, who recently died at Bellevue Hospital after having tried to out-do Succi, the faster. was not the long-lost boy. Gen Armistrong President of the Hampton Institute. Virginia, was stricken with parklysis while addressing a Bleeting in Stoneham. Mass., Thursday evening. and It is anid that he can live but is short time. George P. Blackburn, an ex-member of the Pennsylvania Legislature, was arrested yesterday at Greensbarg. charged with issuing forged tax receipts on election day. He will have a hearing on Monday. Round Pond. the source of supply of water for West Point, is very low, and orders have been issued by the Adjutant to shut off the mains from 8:80 P. M. to 4:80 A. M., except in case of fire. The daily consumption of water on the reservation is 227.000 gallons, or over 200 gallons for every person on the Point. On the body of a man found floating in the Hudson, on Hampton Ferry, was tound pawn ticket No. 55,573, issued by II. Samuels, 417 Grand street, Brooklyn. on Oct. 20, to one Dutton for a pair of trousers. It is thought that by this the body can be identified. He was about is feet " inches in height and about 26 years old. The fast train on the Louisville and Nashville road was in collision on Thursday afternoon with a wrecker near Warrior. Ala. Both engines were demolished, and a negro tramp was instantly killed. The mail agent was caught by the timbers, but was extricated. Engineer Love jumped for his life and was badly hurt. The wrecker was on its way to clear a freight wreck.

9. December 3, 1891 Delaware Gazette and State Journal Wilmington, DE
Article from Delaware Gazette and State Journal, December 3, 1891

Click image to open full size in new tab

Article Text

A Loan Association's Collapse. WILMINGTON, N. C., Nov. 27.-The Clinton Loan Association at Clinton, Sampson county, has suspended. It was a small state banking company, with a capital of $50,000, and has been known to be in a shaky condition for some months. Its failure has no connection whatever with the suspension of the First National Bank of this city,

10. December 18, 1891 Fisherman & Farmer Elizabeth City, Edenton, NC
Article from Fisherman & Farmer, December 18, 1891

Click image to open full size in new tab

Article Text

South and West. THE two-year-old son of the millionaire cattleman, David T. Beals, who was kidnapped from his home in Kansas City, Mo., wasrecovered upon the payment of $5000, which the father had offered for the child's return. A nurse girl, who was known as Lizzie Smith, stole the child. THE Clinton Loan Association of Clinton, Sampson County, N. C., has suspended. It was a small State banking concern, and had about $50,000 capital. GEORGE MOXEY, colored, was taken from the jail at Many, La., by a mob and hanged to the nearest tree. Moxey caught a little thirteen-year-old white girl as she was returning home from school and assaulted her. A LOCOMOTIVE exploded about a mile south of Akron, Ohio. The body of the engineer, John Byron, was found 600 yards south of the track, while that of his fireman, George Parker, was 200 feet north. Gus SIMONDS and Frank Garrett were hanged at Mansfield, La., for the murder of an unknown white man near Gloster. They confessed their crime on the scaffold. Lorenzo Perez was hanged at Midland, Texas, for the murder of some cowboys. A. S. FROMAN and William Rivers, two well known citizens. fought at Weatherford, Texas, over the killing of a dog, Froman being armed with a shot gun and Rivers with a revolver. Froman was killed on the spot and Rivers lived only a few hours. D. C. THOMAS, employe of the Brittain Packing Company, shot and killed John Hockridge, proprietor of a boarding house at Marshalltown, Iowa, and then killed himself. Thomas was insane. JOSEPH WOLPH and John Miller, farmers, fought at Wapakoneta, Ohio, over a disputed line fence. One was armed with an ax and the other with a hatchet, and both were killed. THE big grain elevator at Escamaba, Mich., owned by the "Soo" road, with 150,000 bushels of grain, was burned. The flames communicated to the flour sheds, docks and coal pits, and 10,000 barrels of flour and 40,000 tons of coal were also destroyed. The losses will aggregate about $250,000. THE great public benefactor known in history as "Land Bill" Allen ended his days in the Franklin County (Ohio) Infirmary after suffering one week from paralysis. Mr. Allen was born in Windom, Conn., May 23, 1810. A SPAN of a bridge on the great Northern Railroad extension at Kalispell, Montana, fell, taking down with it fifteen men. Five were killed and the others injured. ARCHBISHOP KENRICK'S fiftieth anniversary as a bishop in the Catholic Church was celebrated in St. Louis, Mo., with great demonstration. THE Apaches are on the warpath in Arizona and have committed several depredations. One man has been killed and another wounded, and the settlers are arming to protect themselves. A DISASTROUS fire occurred at New Orleans, La., destroying the main building, a frame structure used as a library, and several other buildings belonging to the Straight University for Colored People. The loss is $300,000. FIRE caused by crossing wires in the Arc Light and Power Company's works, Chicago, Ill., did $300,000 damage. MARTIN C. BARTHAL, for twenty-five years manager of the Concordia Publishing Company, of St. Louis, Mo., has confessed that he is an embezzler to the extent of $50,000, and has implicated his son, Martin H. F. Barthal, who has fled.

11. June 23, 1892 The Caucasian Raleigh, Goldsboro, Clinton, NC
Article from The Caucasian, June 23, 1892

Click image to open full size in new tab

Article Text

BANK STOCKHOLDERS HOLD A MEETING Trying to Stop Lawsuits and Settle the Tronble. The stockholders of the Clinton Loan Association held a meeting in Olinton Tuesday. A majority of the stock was present or represented. A resolution was passed to the ffect that each stockholder should guarantee to become responsible for the indebtedness of the bank to the amount of the stock held by each in addition to the stock held This will probably guarantee an amount sufficient to cover all indebtedness we are told. If this is so, it will make all lawsuits started unnecessary and put the business in such a shape that receiver Dunn can proceed to wind up the business satisfactorily. A committee composed of Mess's. H. E Faison, T. M. Lee, Abram Hobbs and J. L Stewart, was appointed to see stockholders not present and urge them to agree to the same policy. This committee will a'so represent the s'ockholders in an executive capacity till the next meeting of the stockholders, which will be on July 7th. A committee was also appointed to wait on Mr. A. F. Johnson and to offer a compromise settlement with him of the amount that it has been claimed that he owed. The stockholders have shown a proper spirit. Now would it not be well for the depositors to meet them part of the way with some equitable compromise? We think if the stockholders and depositors can have an understanding this whole very troublesome and complicated matter might soon be settled without long delay and heavy cost in lawsuits.