Bank of Fayetteville - Fayetteville, NC

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: April 1, 1865*
Location: Fayetteville, North Carolina (35.053, -78.878)

Metadata

Model: gpt-5-mini
Short Digest: edb8c8b6

Response Measures

None

Description

Article states that at the close of the war, when all these banks suspended and gives the Bank of Fayetteville's notes value (10 cents), indicating suspension at the end of the Civil War and subsequent winding up/closure. Date of suspension approximated as 1865 (close of the Civil War).

Events (1)

1. April 1, 1865* Suspension

Cause: Local Shock
Cause Details: Suspended at the close of the Civil War; wartime collapse of local banking led to suspension and winding up.
Newspaper Excerpt: At the close of the war, when all these banks suspended... Bank of Fayetteville, 10 cents on the dollar.
Source: newspapers

Newspaper Articles (1)

1. June 28, 1903 The News & Observer Raleigh, NC

Article from The News & Observer, June 28, 1903

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Article Text

two banks was limited to their stock subscription. Before the next two banks could be chartered it was provided that the liability should extend SO as to cover all the personal property of the stockholders, which, on the winding up of these banks after the war, was the cause of considerable litigation. The first of these two banks to be chartered was the Bank of Fayetteville, which was later followed by the Clarendon Bank. The Bank of Fayetteville was located on Hay street, near the present Bank of Fayetteville. Its officers were: President. John D. Starr; Cashier, William Broadfoot. W. G. Matthews was also an officer. The Clarendon Bank was located in the old Fayetteville Hotel building on Hay street, now the site of the new Hotel LaFayette. President, John D. Williams: Cashier, John W. Sanford; Teller, William Worden. At the close of the war, when all these banks suspended, Cape Fear Bank notes were worth 15 cents on the dollar; State Bank, 25 cents; Bank of Fayetteville, 10 cents; Clarendon Bank, 5 cents. The above is a brief summary. For most of it the writer is indebted to Mr. Allen MacCaskill, of this city. E. R. MacKETHAN.