117. Parker Bank & Trust Company (Cullman, AL)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
trust company
Start Date
February 13, 1920
Location
Cullman, Alabama (34.175, -86.844)

Metadata

Model
gpt-5-mini
Short Digest
7af07a74

Response Measures

Capital injected, Full suspension, Books examined

Other: Stockholders transferred holdings to local businessmen; capital increased and deposits replaced.

Description

Newspapers report an unprecedented run that forced the bank to close for a few days in mid-February 1920; local businessmen recapitalized and returned deposits and the bank reopened later that week. Cause attributed to internal dissension among stockholders after the cashier's resignation. Dates are taken from publication chronology: run/closure mid-February 1920, reopening about Feb 17–18, 1920.

Events (3)
1. February 13, 1920 Run
Cause
Bank Specific Adverse Info
Cause Details
Run precipitated by dissension among stockholders after the resignation of Cashier M. L. Robertson (internal troubles).
Measures
Stockholders transferred holdings to local business men; business men agreed to replace withdrawn deposits; bank reorganized and capital increased.
Newspaper Excerpt
closed Friday after an unprecedented run, during which $216,000 in deposits were withdrawn
Source
newspapers
2. February 14, 1920 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closure followed heavy withdrawals precipitated by internal dissension among stockholders and resignation of the cashier; bank solvent but unable to meet cash demands.
Newspaper Excerpt
The Parker Bank and Trust Company, of Cullman, closed Friday after an unprecedented run ... will reopen Tuesday or Wednesday
Source
newspapers
3. February 17, 1920 Reopening
Newspaper Excerpt
The Parker Bank and Trust Company of Cullman ... was reopened this morning, according to telephonic advices received here from D. F. Green, state bank superintendent.
Source
newspapers

Newspaper Articles (5)
1. February 16, 1920 Richmond Times-Dispatch Richmond, VA
Article from Richmond Times-Dispatch, February 16, 1920

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Article Text

LATE NEWS BULLETINS CHATTANOOGA, TENN., Feb. 15.Will Simons, charged with complicity in the murder of Oscar J. Carlson, Swedish recluse and reputed member of the nobility. at his home on Walden's Ridge, several months ago, will be placed on trial in Criminal Court here tomorrow. MONTGOMERY. ALA. Feb. 15.-The Parker Bank and Trust Company, of Cullman, closed Friday after an unprecedented run, during which $216,000 in deposits were withdrawn, will reopen Tuesday or Wednesday, according to State Superintendent of Banks D. F. Green, who returned here tonight from that town. BIRMINGHAM, ALA., Feb. 15.-In a head-on collision between two freight trains on the Alabama Great Southern Railroad, one mile north of Trussville tonight, at 3:40 o'clock, C. A. Riley, Birmingham, engineer on freight train No. 52, was badly scalded, and P. A. Edwards, Birmingham, engineer on extra freight, has not been found. 1 fireman had an arm cut off. LITTLE ROCK, ARK., Feb. 15.-George Brinton Cook, 51, who served eight years as State Superintendent of Education, died here tonight. Mr. Cook was at one time a member of the executive committee or the National Educational Association and was a member of the Southern Conference of Education. NEW YORK, Feb. 15.-Notwithstanding the "dry" law, the steamship Chappaqua, which is to be Jannched at Shooter's Island the latter Part of this month, will be christened with champagne. The Standard Shipbuilding Corporation, is confident that there will be no interference by the revenue authorities. DUBLIN, Feb. 15.-J. O. Atkins, who claims to be an American citizen, and who was arrested as a Sinn Fein suspect here Friday, has been released as the result of a protest by the American vice-consul. Atkins' brother, a member of the Dublin city corporation, is still detained by the authorities. INDIANAPOLIS, IND., Feb. 15.-Organization of the National Negro Baseball Association was announced here tonight by C. I. Taylor, owner of the Indianapolis A. B. C. Club, who returned today from Kansas City, where the organization meeting was held last week. The league will be comprised of eight teams and will begin its season May 1. PARIS, Feb. 15.-Premier Millerand has explained the reported negotiations between France and Jugo Slavia last fall by which. it is sai,d, a community of interest between the two countries would be recognized in the Adriatic, according to London advices to the Journal MUNICH, Feb. 15.-The organization of a Bavarian monarchist party has just been completed. It aims to reestablish the monarchy in Bavaria regardless of what the rest of the Clerman states do. A woman speaker at one of the

2. February 16, 1920 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, February 16, 1920

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Article Text

BIG RUN CAUSES BANK TO CLOSE Cullman Institution Shuts Doors But Will Be Reopened During Week By Associated Press Montgomery, February 5.-The Parker Bank and Trust Company of Cullman, closed Friday after an unprecedented run during which $216,000 in deposits were withdrawn, will reopen Tuesday or Wednesday, according to State Superintendent of Banks D. F. Green, who returned here tonight from that town. The run was precipitated, Mr. Green declared, because of dissension among stockholders after the resignation of Cashier M. L. Robertson. A. meeting of business men of the town was held Friday by Mr. Gren and at that time the stockholders transferred their holdings to a body of business men interested in maintaining the bank, and arrangements to reopen were at once started. The bank was solvent in every respect, the superintendent declared, but could not meet the heavy demands for cash on depositors' checks. Mr. Robertson was elected president of the reorganized bank.

3. February 17, 1920 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, February 17, 1920

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Article Text

BANK TO REOPEN Montgomery, February 16.-(Special.)The Parker Bank and Trust Company of Cullman, which closed its doors following a run on the institution last week, will be opened again this week with a capital of $100,000, according to announcement of D. F. Green, superintendent of banks, who left Monday afternoon for Cullman to inspect the bank and open it for business. The bank closed Saturday after a run which continued about two days. Internal troubles among those interested in the bank are supposed to have been the cause. The bank had a capital of $50,000 and business men of Cullman took it over and added $50,000 to the capital with the understanding that M. L. Robertson, cashier, would remain with it. They also agreed to replace their deposits, which they had withdrawn. The bank was the largest in point of deposits in the county.

4. February 18, 1920 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, February 18, 1920

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Article Text

DECATUR Decatur, February 17.-(Special.)-Morgan county bids fair to hang up a record on the $25,000,000 good roads bond level With 19 boves out of 32 reported this afternoon, advocates of the bond issue were leading by the astonishing total of 1929 to 47, and every incoming report swelled the total in favor of the amendment. Several boxes voted unanimously for the highway plan, including Albany Box 4. which polled 278 for and none against, and Nunn's Trinity, Flint and Lane's Box 2. The boxes not yet heard from are not large, but if the present average majority is returned by them for the bond issue, it will win in the county nearly 50 to 1. It is doubtful that 100 votes will be polled in the entire county against the measure. The Parker Bank and Trust Company of Cullman, closed Saturday following a number of withdrawals of deposits, was reopened this morning, according to telephonic advices received here from D. F. Green. state bank superintendent, who is in Cullman. M. L. Robertson, formerly cashier, is president of the reorganized institution, and Joe Spitznage! is cashier. The banking department gave permission to the bank to increase its capital stock from $50,000 to $100,000. Reposits for the first day since reopening showed an increase of $140,000, Superintendent Greenstated. Occupants of an automobile, said to have been owned by Sewell Lambert, narrowly escaped death Tuesday morning when the car turned over on Lower Second avenue. One of the occupants. whose name was not given, was slightly injured and was treated at the office of Dr. F. P. Pettey. Ratification of the $25,000,000 bond issue for good roads by Morgan county voters recalled to old residents the first ago. in ty good ing just majority roads 24. years convention favor held The of the in overwhelm- the measure councontrasted strongly with the action taken by that first convention, which refusced to pass a resolution requesting a vote on the question, and reflects the pronounced change in sentiment in the county. A number of important questions will be discussed by the Albany Chamber of Commerce, Wednesday night, when r a smoker will be given by the organization in its rooms in the Colonial building, the board of directors announced today. The path of bootleggers in Morgan county is anything but one of roses o During the week-end Sheriff J. V. May S and his deputies arrested five defendd ents charged with viclating the prohibition laws. Four of the defendents were white and one a negro. A small quantity of liquor was seized.

5. February 19, 1920 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, February 19, 1920

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Article Text

DEPOSITORS RETURN MONEY Montgomery, February @ 18.-(Special.) Depositors of the Parker Bank and Trust Company of Cullman, which closed its doors following a run last week, have returned their money to the institution and it is doing business again. D. F. Green, state superintendent of banks, today stated that the bank was in better condition now than ever before, due to the bringing in of more money and new blood and the withdrawal of certain interests. Within four hours after the bank opened again Tuesday, $150,000 had been returned to the bank from funds which were withdrawn last week. The bank will increase its capital from $50,000 to $100,000.