Bank of Halifax - Halifax, NC

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: November 16, 1927
Location: Halifax, North Carolina (36.328, -77.589)

Metadata

Model: gpt-5-mini
Short Digest: 25ca7132

Response Measures

None

Description

Article (Asheville Citizen-Times, 1927-11-16) reports convictions of the Schlichter brothers for irregularities in connection with the failure of the Bank (of) Halifax and refers to a bank receiver. No run or reopening is described. This indicates the bank failed and a receiver was appointed — classification: suspension leading to closure. OCR errors in article corrected (e.g., 'Hallfax' -> 'Halifax').

Events (2)

1. November 16, 1927 Other

Newspaper Excerpt: TWO BANKERS SERVE SENTENCE ... a brace of Halifax county bankers ... convicted ... for irregularities in connection with the failure of the Bank Halifax
Source: newspapers

2. November 16, 1927 Receivership

Newspaper Excerpt: two years of irregularities in connection failure of the Bank Halifax ... judgment drawn by the ... payment to the bank receiver ... the failure of the Bank Halifax
Source: newspapers

Newspaper Articles (1)

1. November 16, 1927 Asheville Citizen-Times Asheville, NC

Article from Asheville Citizen-Times, November 16, 1927

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Article Text

TWO BANKERST SERVE SENTENCE Gov. Declines To Save Schlichter Brothers Of Halifax County By BROCK BARKLEY N. Nov. brace of Hallfax county bankers lost out today in their appeal to Governor McLean to spare them from violating the State banking laws. Along with great batch of applications, nounced this were those of and O. M. Schlichter B. Schlle has six to eight years term ahead of The two convicted In Hallfax County superior court two years of irregularities in connection failure of the Bank Halifax The court judg. ment drawn by the ment of specified sum of money to the bank receiver they might escape the prison sentences. The pay ments delayed. however, while the Schlichters fought their cases through variety of legal Finally they reach ed the court and sion there left them with the pris. on terms ahead and the opportunity to make the money payment lost by the lapse of time. It was prison or executive elemency then. and Governor McLean, who has reputation for being bit hard boiled toward bankers who land in jall. dismissed the hope his jection of their application today. Among the rejected applications was another of State wide interest. the same being an appeal for the parole of W. Sparrow, Jr. of Martin county. ho was member of the mob that in 1925 was victed of mutilating Joseph NeedleSparrow drew sentence or six to 10 years in county court and was to State's prison in June, 1925 A strong appeal was made to Pardon Commissionor Edwin Briges for his parole but the commissioner found no reason for the of tive clemency and Governor Mc. Lean sustained him Man. 80, Upper Cuts Thief When pickpocket recently took old as "fairly easy game, and tried to steal his watch in near the London Stock Exchange, the thief received an that sent him reeling With chuckle Sir Walter described the incident 'He thought he had more right to watch than had. Did call the police No need for that. administered summory justice and tried to knock him out with right uper-cut to the jaw. useful blow learned at sea. got first shot at my man-on the chin. Did he look surprised He did, and ran. There must have been some force behind the blow,