Fourth National Bank - Fayetteville, NC

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 8682
Charter Number: 8682
Start Date: June 1, 1916
Location: Fayetteville, North Carolina (35.053, -78.878)

Metadata

Model: gpt-5-mini
Short Digest: 1e56b277

Response Measures

None

Receivership Details

Depositor recovery rate: 88.0%
Date receivership started: 1916-02-14
Date receivership terminated: 1919-09-30
OCC cause of failure: Run
Share of assets assessed as good: 73.3%
Share of assets assessed as doubtful: 17.3%
Share of assets assessed as worthless: 9.4%

Description

No run is described in the articles. June 1, 1916 article states the Fourth National Bank of Fayetteville that was suspended some time ago is being reorganized. An Oct 31, 1916 New-York Tribune item references the receiver of the Fourth National Bank, of Fayetteville, N. C., indicating a receivership/closure. Because a receiver is mentioned and there is no clear successful reopening, I classify this as suspension_closure.

Events (5)

1. May 10, 1907 Chartered

Source: historical_nic

2. February 14, 1916 Receivership

Source: historical_nic

3. June 1, 1916 Other

Newspaper Excerpt: The Fourth National Bank of Fayetteville that was suspended some time ago is being reorganized with a capital stock of $100,000.
Source: newspapers

4. October 31, 1916 Receivership

Newspaper Excerpt: Janie R. Williams ... has filed a petition in bankruptcy, with liabilities $1,903, to the receiver of the Fourth National Bank, of Fayetteville, N. C.
Source: newspapers

5. * Suspension

Cause Details: Article only states the bank was suspended some time ago without giving a cause in the provided text.
Newspaper Excerpt: The Fourth National Bank of Fayetteville that was suspended some time ago is being reorganized with a capital stock of $100,000.
Source: newspapers

Newspaper Articles (2)

1. June 1, 1916 French Broad Hustler and Western Carolina Democrat Hendersonville, NC

Article from French Broad Hustler and Western Carolina Democrat, June 1, 1916

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Article Text

Smith Bracey, a Tar Heel promotor, was arrested in New York last week in connection with an alleged stockswindling scheme involving more than $100,000. He is accused of using the mails to defraud, based on literatuer he is alleged to have sent out in an effort to sell stock in a North Carolina mine, near Monroe, in Union county. Chapel Hill dedicated in Thursday of last week her new school house which is said to be best equipped and most conveniently arranged building of the kind in the State. It cost $50,000. Theodore Trivett, a thirteen-yearold lad of Iredell was crushed to death by a tree falling on him that an older brother had cut down to destroy a crow's nest. Fifteen pastors of High Point have arranged to conduct a city-wide revtval to begin in that place June 1st. The meetings will be held in a tent that has been erected that will hold 2,000 people. The Fourth National Bank of Fayetteville that was suspended some time ago is being reorganized with a capital stock of $100,000. Miss Louise Daniels Worth, daughter of Mr. C. W. Worth of Wilmington, and niece of Josephus Daniels. Secretary of the Navy, has become a motion picture player and friends are much interested to learn within the past few days that she is meeting with success in New York. Governor Locke Craig and George S. Powell, president and secretary, respectively, of the Appalachian Park Association, have received assurances that they will receive a herd of 25 elk and a herd of at least a dozen buffaloes for the Pisgah Forest eservation.

2. October 31, 1916 New-York Tribune New York, NY

Article from New-York Tribune, October 31, 1916

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Article Text

# BUSINESS TROUBLES Bankruptcy Petitions. PODBRESKY & GOLDIN-A petition in bankruptcy has been filed against Podbresky & Goldin, manufacturers of women's coats at 50 West 17th st., by these creditors: R. Dunn, $1,600; C. Kruger, $474, and R. Schechter. $750. They made an assignment on Saturday. Judge Augustus N. Hand appointed Thomas D. Hewitt receiver, with authority to carry on business for five days. Liabilities are stated to be $50,000 and assets $15,000. ABRAHAM POLLACK-A petition in bankruptcy has been filed against Abraham Pollack, dealer in cloaks, suits and millinery at 1442 1st av., by these creditors: Modern Cloak and Suit Company, $660; Harris Holland, $11, and Morris Newman, $63. He made an assignment on Saturday. Liabilities are $6,500 and assets $4,500. ABRAHAM LAPIN-A petition in bankruptcy has been filed against Abraham Lapin, manufacturer of cloaks and suits as the A. L. Cloak and Suit Company at 9 West 20th st., by these creditors: Hyman L. Goldman, $194; Morris Kanter, $688, and Samuel Wittkin, $123. Judge Learned Hand appointed Mary Potter receiver, bond $1,000. Liabilities are given as $10,000 and assets $1,000. ABRAHAM SCHWARTZ, of 16 West 11th st., has filed a petition in bankruptcy, with liabilities $16,411 and no assets. Among the creditors are the Rexton Realty Company, $5,726; Colwell Worsted Mills, $1,271, and Homestead Bank, of Brooklyn, $182. There are sixty judgments against him. JOSEPH A. CONTI, confectioner, of 157 West 84th st., has filed a petition in bankruptcy, with liabilities $1,978 and no assets. MAURICE H. GOLDMAN, of 1884 Prospect av., has filed a petition in bankruptcy, with liabilities $1,939 and no assets. JANIE R. WILLIAMS, of 615 West 162d st., has filed a petition in bankruptcy, with liabilities $1,903, to the receiver of the Fourth National Bank, of Fayetteville, N. C., and no assets. HULDA BLOCK, seamstress, of 103 East 90th st., has filed a petition in bankruptcy, with liabilities $624, for money loaned and a judgment, and no assets. Composition Confirmed. MORRIS WEISSMAN-Judge Hand has confirmed a composition of Morris Weissman, manufacturer of waists at 22 West 27th st., with creditors at 10 cents on the dollar cash. Assignment. ANNIE RACHMAN, doing business as the Up-to-Date Novelty Works at 15 and 17 West 18th st., has made an assignment to Morris Greenspan. Discharges from Bankruptcy. Judge Learned Hand in the United States District Court has granted discharges to these bankrupts: Isidor Jacobson, hardware, 482 Willis av.; Henry E. Snow, promoter of advertising service systems, 230 West 108th st.; Jere O'Shea, 1961 ington av., formerly liquors; Paul Junger, 957 Ox st., formerly liquors; Kate Houseman, 41 Bennett av.; Isaac Grodzinsky, residence Normandie Hotel; William Rock, actor, 107 West 45th st.; Hattie B. Frank, 3 East 27th st.; Remsen Schenck, broker's clerk, 27 William st.; Walter Koettgen, 109 Waverly Place; Max E. Bloch, clerk, 854 Kelly st.; Salvatore Lanza, women's tailor, 461 West 41st st.; Morris Maisel, jobber in garters, 308 East Broadway; Nicolo Arenella, tailor, 441 East 120th st.; Mistarka & Geitner, silks and velvets, 10 West 29th st.; M. Schreiber & Son, hair ornaments, 521 Broadway; Emil Schoenfeld, printer, 173 East 4th st.; Dr. Leonard Landes, 140 East 22d st., liabilities $22,563, and Blake & Williams (corporation), manufacturers of steam heating apparatus, 26 Grove st., liabilities $255,163.