11770. Bank of Guilford (Greensboro, NC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 4, 1899
Location
Greensboro, North Carolina (36.073, -79.792)

Metadata

Model
gpt-5-mini
Short Digest
c47a947a

Response Measures

None

Description

The Bank of Guilford closed its doors Jan 4, 1899 and a receiver was asked for to wind up affairs. Coverage describes this as voluntary liquidation and the receiver pursued suits; later payments (40 cents on the dollar) were ordered. No article describes a depositor run prior to or as cause of the closure.

Events (3)
1. January 4, 1899 Suspension
Cause
Voluntary Liquidation
Cause Details
Directors ordered a receiver to be asked for to wind up affairs; bank had been losing money for some time and action described as voluntary liquidation.
Newspaper Excerpt
The Bank of Guilford, of this county closed its doors to-day. A notice was posted stating that by order of the directors a receiver had been asked for to wind up the affairs of the bank.
Source
newspapers
2. January 5, 1899 Receivership
Newspaper Excerpt
Upon the application of some of the stockholders, the Bank of Guilford ... went into the hands of a receiver, Mr. J. S. Cox, this morning. The action is simply voluntary liquidation. The depositors will be paid in full.
Source
newspapers
3. September 4, 1899 Other
Newspaper Excerpt
In the case of J. S. Cox, receiver, against the Bank of Guilford, Judge Brown has ordered that the depositors be paid 40 cents on the dollar inside of thirty days.
Source
newspapers

Newspaper Articles (9)
1. January 5, 1899 The News & Observer Raleigh, NC
Article from The News & Observer, January 5, 1899

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Article Text

THE BANK OF GUILFORD THE DOORS C OSED AND A RECEIVER ASK'D FOR. He Will Wind up the Business. Bank Losing Money for Some Time. Depositors Will be Paid. Greensboro, N. C., Jan. 4.-(Special.) -The Bank of Guilford, of this county closed its doors to-day. A notice was posted stating that by order of the directors a receiver had been asked for to wind up the affairs of the bank. The bank has been losing money for some time, and the announcement caused no surprise. It is stated that deposits will be paid in full.

2. January 5, 1899 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, January 5, 1899

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Article Text

BANK CLOSES ITS DOORS. A Not Unexpected Event at Greensboro'. GREENSBORO', N. C., January 4.(Special.)-The Bank of Guilford, of this city, closed its doors to-day. A notice was posted stating that by order of the directors a receiver had been asked for to wind up the affairs of the bank. The bank has been losing money for some time, and the announcement caused no surprise. It is stated that the depositors will be paid in full.

3. January 6, 1899 Virginian-Pilot Norfolk, VA
Article from Virginian-Pilot, January 6, 1899

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GREENSBORO, ONE BANK ASKS FOR RECEIVER, ANOTHER INCREASES CAPITAL. Greensboro, N. C., Jan. 5.-Upon the application of some of the stockholders, the Bank of Guilford, organized here in 1889, went into the hands of a receiver , Mr. J. S. Cox, this morning. The action is simply voluntary liquidation. The depositors will be paid in full. Union bricklayers on Wharton & McAlister's new insurance building, struck this morning because two nonunion men were employed on the job. After investigating the claims of the various interests, Mr. Wharton promptly decided in favor of the union men, and the others were discharged. The question of wages was not involved. The Piedmont Bank to-day increased its capital stock to $100,000 and will be converted into a national bank as soon as authority is received from Washington. All the old officers were re-elected for the ensuing year. A semi-annual dividend of 4 per cent was declared.

4. January 13, 1899 Fisherman & Farmer Elizabeth City, Edenton, NC
Article from Fisherman & Farmer, January 13, 1899

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ALL OVER THE STATE. A Summary of Current Events For the Past Seven Days. While felling a tree in Rand~ olph county a man named Den ny Allred was killed by a limb. Jas, McRae, colored of New Hanover county, was killed Saturday by the accidental discharge of a gun. The citizens of Whiteville are getting up a petition, asking dis the Legislature to establish a pensary there. Continued ill health induced Mrs. James Young, of Stokes county, to commit suicide Mon> day by taking strichnine. A company with a capital of $3,500 has been organized at Ashboro, Randolph county, to establish a chair factory. Nannie Hill, colored, living near Winston, was arrested Tuesday, charged with strangling her eight days old baby. The Bank of Guilford, at Greensboro, closed its doors Cox Wednesday morning. J. .S. has been appointed receiver. In Gaston county, Saturday, the wife of Thomas Helton eloped with Asbury M. Abram, a married man, both leaving large families. The Democrats having gained control of the board of education of New Hanover county, all the negro school committeemen have been ousted. The our-year old son of David Thompson was burned to death in Union county, Tuesday during the temporary absence of his mother. Fire at Charlotte, Friday night, destroyed the buildings occupied by the Shaw-Howell Liddle Harness Company, and & Co., causing a $75,000 loss. Prof. John J. Blair has resigned the superitendency of the becity schools of Winston to come superintendent of the Wil mington public schools. Monday In Wilmington, night some one slipped into the residence of Mrs. M. L. Brown and left an infant on her bed. There is no clue to its identity. During the year 1898 there of were issued from the register deeds office in Halifax, 134 marriage license for the white race and 361 for colored, making 495 in all. Great indignation is felt in the ranks of Mecklenberg Camp Confederate Veterans, Charlotte, for against Senator Butler, asking the Federal government for pensions for Confederate soldiers, The 18 months old child of Ola Anderson, colored, of Caldwell county, was burned to death Monday night. The mother left the child alone in the house. The house was burned and the child with it. The eleven year old son of Jefferson Bishop, in Forsyth county, got his father's bottle and of whiskey Saturday night drank about half pint of the The boy died before aid could be medical liquor. summoned. While Rev. J. M. Rose, pass tor of the Morganton Presbyte rian church, was attending prayer meeting Tuesday night, a burglar entered the house and a stole ten dollars in cash and gold chain from the desk in the pastors's study. At Barnardsville, Buncombe county, Friday, the bursting of a machine in the pin factory of Mason and Dickinson, caused the death of J. B. Whittemore. A piece of the machinery was thrown through Whittemore's body, causing his death in three hours. During a drunken row in Ashe county, Saturday night, in which John Hampton, Joe Stans berry and John Goss were the participants, Hampton and Stan were shot at last accounts was Goss berry and killed not and expected to live,

5. September 5, 1899 The Times Richmond, VA
Article from The Times, September 5, 1899

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A FATHER MAKES AWFUL MISTAKE Gives His Son Poison by Accident for Other Medicine. WAS KILLED ALMOST INSTANTLY Bank of Gnilford Pays a Dividend-An Ignorant Man Violates the Internal Revenue Law-A Deaf Mute Held Upand Robbed. GREENSBORO, N. C., Sept. 4.-Special. Mr. C. A. Doggett, of Brown's Summit, Guilford county, made a mistake last night that resulted in the death of his three-year-old son. The child had been sick and calomel had been prescribed. Unfortunately Mr. Doggett mistook the morphine bottle for the calomel bottle and administered a dose to the little boy that killed him almost immediately. DIVIDEND ORDERED. In the case of J. S. Cox, receiver, against the Bank of Guilford, Judge Brown has ordered that the depositors be paid 40 cents on the dollar inside of thirty days. It is hoped that this will avoid the unpleasant features that are sure to result if there is a continuation of the suits on the bonds of the cashier, teller and book. keeper of this bank. District Attorney Holton has brought a libel suit for $666.87 worth of cigars owned by J. D. King, a cigar manufacturers of Winston and claims that the property should be forfeited to the government because King received five cigar boxes without destroying the revenue stamps. In his answer, filed to-day, King alleges that he is a very ignorant man, but that he has always tried to comply with United States laws, BAD ACCIDENT. While riding to church in a wagon yesterday, Mrs. Joseph Fields was thrown out and two of her ribs were broken and her head badly cut. There was a dastardly robbery commit. ted one mile from this place last night. A deaf and dumb man named Mitchell was walking thome along the railroad track, when he was suddenly seized by two men who choked him nearly to death and took from him the few dollars and other val. uables that he had on his person. Two men are being held by the police on sus. picion.

6. October 7, 1899 The News & Observer Raleigh, NC
Article from The News & Observer, October 7, 1899

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EXERCISES AT STATE NORMAL. Cases Disposed of in the Federal Court -Serious Accident. Greensboro, N. C., Oct. 6.-(Special.)-The opening exercises at the State Normal and Industrial College were held in the chapel yesterday morning. Dr. McIver asked the girls to sing the Long Meter Doxology. Then he read the Sermon on the Mount, and after a short sensible talk to the students lectures began. Mr. Jno. Barber, of this city, had the bad luck to have this leg broken yesterday while helping to lift some heavy lumber at this farm. The bone of the leg was broken in two places. The receiver of the Bank of Guilford is paying out 40 per cent. of déposits in the broken bank. The following cases were disposed of in the Federal court here today: L. Bucham, guilty of blockading, sentenced three months imprisonment and $100 fine. Samuel Troxber got off on payment of costs. Henry Williams and Joe Langley, case continued. Henry Saunders, Montgomery county, judgment suspended on payment of costs. Jno. Powell, of Orange county, guilty. Judgment suspended on payment of costs. Geo. May and James Soot. of Guilford county, guilty, four months in jail and $100 fine. Geo. and William. Lawson, Stokes. guilty. Judgment suspended on payment of costs. Hugh Williams, of Rockingham, not guilty. Jino. Bradsher, Alamance county, not guilty. Joe Freeland, Alamance county. Judgment suspended Col. Brooks and Ashbury Bates, Surry county. Guilty. sentence, three months in jail and $100 fine each. W. H. Jones, Wilkes county, case dismissed. Alonzo L. Davis, Surry county, called and failed. James Anderson, Wilkes county, case dismissed. Dr. Thomas, of Lexington, has located here.

7. September 20, 1900 Fisherman & Farmer Elizabeth City, Edenton, NC
Article from Fisherman & Farmer, September 20, 1900

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NORTH CAROLINA. The residence of Mr. R. G. Hollingsworth, of Fayetteville, was burned Saturday. A Maxton correspondent of the Wilmington Messenger gives an incident of the hatching of chickens by the warm weather. Good rains have fallen over most of the State during the past seventy-two hours. It is too late to be of any benefit to cotton, but will put land in shape for plowing. The aldermen of the town of Greensboro were on the point of buying the present water works, but the drouth has revealed the status of the system and It seems the trade is off. The stockholders, directors and creditors of the defunct Bank of Guilford at Greensboro ask for the removal of J. S. Cox, the receiver, on the ground that he was an officer and director and is hence disqualified. It is also charged that there is extravagance and delay. Mr. Robert Fulcher, keeper of the Forsythe County Home for the Aged and Infirm, was assaulted and stabbed Monday by an insane inmate named Brown. The wound is a serious one. The trouble arose over the keeper reprimanding Brown for some bad conduct. Mayor A. M. Waddell, of Wilmington, who is a candidate for the United States Senate, and who is now speaking in the West, in his personal canvass tells his hearers they should think more about State affairs than about the PresIdential election. He declares that the negro question as a race issue in North Carolina is dead. Mr. John Hall, of Murphy, and Miss Caroline Marshall, who lives on the Hiawassee river, ran away from home the other night and were married at Hayesville. The old folks were opposed to the marriage, but on the day of the escape when Miss Caroline found that the dogs were fastened up, she slipped down the ladder and hastened to her betrothed. Deaths: At Statesville, Mrs. Isaac Wallace; at Wilmington, Mr. Wm. E. Davis; at High Point, aged 69, Dr. L. 1. Bodenhamer, one of the leading elders of the Primitive Baptist Church, who preached for fifty years and practiced medicine for thirty; at Reidsville, aged 55, Mr. Peter Stone; at Youngsville, Mrs. W. G. Riddick; at Raleigh, aged 79, Mr. Nathaniel Jones. The coroner's jury of New Hanover county Monday returned a verdict charging Balaam Fuller, colored, with the murder of old man Prestelle Saturday. Both negroes were inmates of the county home, and it was proved to the jury that Fuller bore a grudge against Prestelle, had threatened to take his life and left the home Saturday soon after Prestelle, going in the same direction as the latter. Fuller is In jail. There is good progress on the Loray cotton mill at Gastonia. The building will be five stories and basement, 527 by 130 feet, and will cost $225,000. The machinery, 50,384 spindles and 1680 looms, will cost $1,000,000. It will be the largest mill in North Carolina under one roof. The engine will be of 2500 horse-power. Eight cotton warehouses, with a capacity for 30,000 bales, and 300 homes for employees are being constructed. By January 1 everything will be completed, as 500 men are at work. Saturday night at 9:45 o'clock Youngsville was visited by a cyclone, which resulted in the painful injury of one person and the destruction of property and farms to the amount of $7500. To those who witnessed the cyclone It appeared as a great cone-shaped mass of fire with the acute point rising heavtnward. Its course was zigzag. It passed through the southeast part of town and wrought destruction as it went. Cheatham Bros.' large four-story prize house just nearing completion, and the Methodist and Baptist Churches suffered complete demolishment and were the principal houses destroyed.

8. January 4, 1901 The News & Observer Raleigh, NC
Article from The News & Observer, January 4, 1901

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PIEDMONT SHUTTLE WORKS. New Industry Organized. Rumor of Two New Cotton Factories For Greensboro. (Special to News and Observer.) Greensboro, N. C., Jan. 3.-Greensboro enters the new year with the most flattering prospects from a business standpoint. Several new, enterprises are under way, and two or three big enterprises are being organized. It is rumored that two new cotton factories, to employ several hundred operatives, will be built in the spring. The Piedmont Shuttle Works has just been organized here the papers being filed today. The incorporators are Mr. W. H. Bishop and Mrs. Caroline Bishop, of this city, and Mr. C. E. Fleming, of Spartanburg, S. C. The latter will manage the business. The concern will manufacture shuttles, bobbins and cotton mill supplies. It is the third enterprise of the kind recently organized here. The real estate market in Greensboro is quite active just now. A dealer informed the News and Observer correspondent today that he sold $16,500 worth of property the first two days of the year. Yesterday a new and substantial building on South Elm street, occupied by the Southern Express Company, was sold by Mr. E. P. Wharton for a handsome consideration. Matthew Howard, a young negro man, was arrested here today charged with committing rape, his victim being a 14year-old colored girl. The resignation of Mr. J. S. Cox as receiver of the defunct Bank of Guilford, will be acted upon at the coming special term of Guilford Superior court. If the resignation is accepted it is generally understood that Mr. J. Speight Hunter, of the Hunter Manufacturing and Commission Company, will be appointed receiver. Mrs. T. E. McRary, of this city, died at the home of her father, in Lexington, last night. She had recently recovered from a severe attack of typhoid fever and had gone to Lexington to recuperate. She leaves a husband, the chief clerk in United States Marshal Milliken's office, and a five-months-old daughter. Judge Boyd has gone to Asheville to hold a special term of the United States District court. Greensboro's oldest citizen, a negro 95 years old, died last night.

9. January 3, 1902 The News & Observer Raleigh, NC
Article from The News & Observer, January 3, 1902

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DEATH OF MR JOHN SCHENCK. The Hearing of the Bank of Guilford Cases Resumed. (Special to News and Observer.) Greensboro, N. C., Jan. 2.-Mr. John Schenck, who had been critically ill for months, died this morning. He suffered from something like cancer of the brain, and in addition, was totally blind and deaf. Previous to his affliction he was engaged in business in Charlotte as an electrical engineer. The deceased was a son of Judge and Mrs. David Schneck. The hearing of the Bank of Guilford cases was today resumed before the referee, Col. John N. Staples. The cases are brought by the receiver against some of the officers and directors of the defunct bank.