11771. Bank of Guilford (Greensboro, NC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 6, 1903
Location
Greensboro, North Carolina (36.073, -79.792)

Metadata

Model
gpt-5-mini
Short Digest
ddc63664

Response Measures

None

Description

Articles (Mar and Nov 1903) describe the Bank of Guilford as insolvent with a receiver (Hunter) appointed and litigation against the cashier and directors. The receiver has paid about 95% of claims to depositors, indicating the bank was closed and in receivership rather than simply experiencing a run. No explicit run is mentioned.

Events (2)

1. March 6, 1903 Receivership
Newspaper Excerpt
Hunter, Receiver of the Bank of Guilford ... the receiver has already paid out to depositors and creditors of the bank about ninety-five per cent. of their claims, and the stockholders claim that they are entitled to be paid by the directors.
Source
newspapers
2. March 6, 1903 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank declared insolvent; suits against cashier and directors for losses; insolvency led to suspension/closure
Newspaper Excerpt
Col. John N. Staples, referee in the case of Hunter, Receiver of the Bank of Guilford, vs. Bogart, cashier ... This case involves over $50,000 ... suit brought against the cashier of the insolvent bank
Source
newspapers

Newspaper Articles (3)

Article from The News & Observer, March 7, 1903

Click image to open full size in new tab

Article Text

Greensboro, N. C., March 6.-Col. John N. Staples, referee in the case of Hunter, Receiver of the Bank of Guilford, vs. Bogart, cashier and his bondsmen, will resume the taking of testimony on March 12th. This case involving over $50,000 is a suit brought against the cashier of the insolvent bank and his bondsmen to make good the losses by the bank, and has been very strongly contested.


Article from The Times Dispatch, March 7, 1903

Click image to open full size in new tab

Article Text

A CARNEGIE LIBRARY Movement in Greensboro to Accept Offer of $25,000. (Special to The Times-Dispatch.) GREENSBORO, N. C., March 6.-At a meeting of a committee of ladies, representing the literary societies of the city, 18st night, a general mass meeting of citizens was called to meet in the OperaHouse on the night of March 13th to disBuss the enlargement of the present city public library and the acceptance of the offer of a $25,000 Carnegie library. PromInent speakers will be present and music will be furnished by the Normal College Woman's Orchestra. This committee of ladies for the past ten days have been instrumental in securing a donation from citizens of 250 new volumes and $54 cash for the city library. After the meeting on the 13th these books will be formally presented to the library, with appropriate talks. An act of the Legislature has just been passed concerning the proposed Carnegle library for Greensboro. Colonel John N. Staples, referee in the case of Hunter, cashier of the Bank of Guilford, vs. Bogart, cashier, and his bondsmen, will resume the taking of testimony on March 12th. This case involves over $50,000 and has been pending for two years. It is a suit brought against the cashier of the insolvent bank and his bondsmen to make good the losses by the bank, and has been very strongly contested. An idea of this can be had from the fact that Mr. Wetmore, the first witness yet examined, the expert accountant, has not yet been turned loose on cross-examination by the defense, although his testimony so far amounts to 200 typewritten pages. Z. V. Taylor and J. N. Wilson represent the plaintiff receiver. The defendants are represented by Messrs, King and Kimbali, Lewis Scott, Scales and Scales, Douglass and J. A. Barringer. The Executive Committee of the Associated Boards of Traue, through Secretary Hunter, of this city, are now making an effort to secure a conference with the authorities of the Southern Associated Railways, to be held in Washington on March 16th, to come to some understanding regarding the alleged discrimination in freights against North Carolina towns. Every effort so far to have an amicable adjustment of these maters, or to even get an authorized conference, have signally failed, and it would seem that if a meeting is ever agreed upon it will amount to nothing. Mr. John T. Rees, a popular young. business man or Greensboro, and Missi Nora Wood, the attractive daughter of: Mrs. Nan Wood, of the Central Hotel, were married last night by Rev. Dr. TurVEC


Article from The Times Dispatch, November 3, 1903

Click image to open full size in new tab

Article Text

NEGROES ARRESTED. Prisoners Sent to Work on County Roads-Bank Cases. (Special to The Times-Dispatch.) GREENSBORO, N. C., November 2.An important arrest was made by the police here this morning of three professional negro thieves in a negro suburb of the city known as Dublin. The men give their names as Jim Williams. of Trenton, N. J.; Carson Coggins, of Troy, N. Y., and Earle Sharpe, of Rock Hill, S. C. Saturday night a freight car was broken open and several boxes of shoes and dry goods stolen. The negroes were arrested, taken to the lock-up, and were tried before the Mayor this afternoon, and in default of ball were sent to jail. The sheriff took twenty prisoners to the county road force this morning. that being the number sentenced to hard labor ICT various offences by Judge Allen last week. The grand jury Saturday reported that they had thoroughly examined all the county offices and found everything in good condition. They strongly recommended the building of a workhouse by the county for the confinement and employment of boys and women who are convicted of violating the law, many of whom are now sent to the county chain gang to work and associated with hardened criminals. Superior Court for the trial of civil cases began this morning, to last for one week. What are known as the Bank of Guilford cases were called this morning. Judge Allen said that he understood that the lawyers and litigants were parleying with a view to a compromise, and that it might save time to take a recess, so that a full conference might be had between all parties. and court adjourned at 3 o'clock. The Bank of Guilford cases are twenty-five suits brought by stockholders of the Bank of Guilford against the Board of Directors of the bank for damages on account. of negligence on the part of the directors. The suits involve about $60,000, and by a previous order of court were consolidated into one case. The receiver has already paid out to depositors and creditors of the bank about ninety-five per cent. of their claims, and the stockholders claim that they are entitled to be paid by the directors.