11877. Bank of Oxford (Oxford, NC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 21, 1892
Location
Oxford, North Carolina (36.311, -78.591)

Metadata

Model
gpt-5-mini
Short Digest
fec7050f

Response Measures

None

Description

Multiple contemporary newspaper items (March–April 1892) report the Bank of Oxford closed its doors March 21, 1892 so the president (Dr. H. C. Herndon), the principal stockholder, could retire and to wind up the business. A state bank examiner took charge and a receiver (R. W. Lassiter) was appointed. Depositors were reported likely to be paid in full. No run is described; this is a voluntary suspension leading to permanent closure/receivership.

Events (3)
1. March 21, 1892 Suspension
Cause
Voluntary Liquidation
Cause Details
President Dr. H. C. Herndon, principal stockholder, elected to retire and closed the bank to wind up its business; not described as a failure from insolvency or depositor panic.
Newspaper Excerpt
The Bank of Oxford has suspended, having closed to wind up its business.
Source
newspapers
2. March 24, 1892 Other
Newspaper Excerpt
Bank Examiner W. H. Kitchin has taken charge of the affairs of the bank and a careful examination of its condition justifies the opinion that it will pay out dollar for dollar all its indebtedness.
Source
newspapers
3. March 25, 1892 Receivership
Newspaper Excerpt
Judge Connor appointed R. W. Lassiter receiver of the suspended Bank of Oxford.
Source
newspapers

Newspaper Articles (6)
1. March 24, 1892 The Gold Leaf Henderson, NC
Article from The Gold Leaf, March 24, 1892

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Persons going to Norfolk next week can get good accommodations at Mrs. Deyson's boarding house, No. 252 East Main street, at $1.00 a day. This includes three meals and a night's lodging. The editor of the GOLD LEAF from personal knowledge takes pleasure in recommending this house as first-class in every respect and guarantees satisfaction to those who stop there. The past week in some respects has been an unsual one in the history of Henderson. It is not often that a community loses three of its most prominent, wealthy and useful citizens within a week's time, such as Maj. R. E. Young, Capt. E. G. Brodie and Mr. C. B. Church. Only a short time ago we recorded the death of Mr. R. W. Harris, a gentleman of culture and large means. making four men who have passed from the stage of action whose position and surroundings made an impression upon the community in which they lived such as falls not to the lot of the average person. The Bank of Oxford has suspended, having closed to wind up its business. The Day says there was no failure, Dr. H. C. Herndon. the president, who owns more than $35,000 of the $40,000 stock of the concern, having concluded to retire from active business, and took this step at his own volition. Depositors are assured that they will not lose anything. Bank Examiner W. H. Kitchin has taken charge of the affairs of the bank and a careful examination of its condition justifies the opinion that it will pay out dollar for dollar all its indebtedness. A receiver will be appointed in a few days and the business will be closed up satisfactorily to all persons concerned it is said.

2. March 24, 1892 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, March 24, 1892

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THAT CONFERENCE. SANDERLIN, BUTLER, AND ALEXANDER WERE MISREPRESENTED. Butler Only an Interested Auditor-The Situation Discussed-Winston Gets the Colored Agricultural College. [Special tolegram to the Disparch.] RALEIGH. N. C., March 23.-Your correspondent to-day interviewed State-Auditor Banderlin regarding the report that he and Marion Butler and Congressman Alexander had conferred together at Washington. He says the three did not meet in conference, and that they are misrepresented. Sanderlin says be sought the interview with Alexander, and that the latter did not seek it. The talk between them took a wide range, and the whole situation in North Carolina was discussed. Butier's connection. the Auditor asserts, was only that of an interested auditor. NO AGREEMENT. Auditor Sanderlin says further that no agreement of any sort was entered into by Alexander and himself, and that the question of the candidacy of either for the gubernatorial nomination remains unsettled. He concedes that the right to select candidates for office on the Democratic State ticket IS vested in the Democratic State Convention alone. 4 WINSTON WINS. The trustees of the Colored Agricultural and Mechanical College, in session here to. day. received propositions from Winston, Greensboro', and Wilmington for a permanent location. On the second ballot Winston won, having offered $8,000 to be paid in thirty days and $3,000 additional in June. Notice is given to-day that the OddFellows' Orphanage at Goldsboro' is completed and will be occupied as soon as furnished. Trustees are called to meet April 11th to select a superintendent and other necessary officers and attendants. John C. Davis, the lawyer. of Wilmington, who embezzled such large sums of money from widows and orphans there, will plead insanity day after to-morrow, when his case comes up. CHILDREN BURNED TO DEATH. News was received to-day of the burning to death of two young children in Robeson county. who were locked in a house by their mother. The older child got on fire and crawled into a cradle with the younger. The commencement exercises of the Agricultural and Mechanical College. of which A. T. Holliday is president, will be held June 15th, and Dr. Charles W. Dabnev. formerly State chemist here, and now president of the University of Tennessee, will deliver the address before the students. A poll has been made of 316 Democrats at Greensboro'. and their presidential preferences ascertained. Hill is the first choice of 188, Cleveland of 99. OPENING OF THE TABEBNACLE. Rev. Dr. W. E. Hatcher, of Richmond. Va., is to preach the sermon at the reopening of the Baptist Tabernacle here next Sunday. The week beginning that day will be devoted to special services commemorative of the reopening of this church, which has been greatly enlarged and entirely renovated. Governor Holt will deliver an address Monday evening, while the various city pastors will extend greetings. Among the speakers during the week will be Rev. Dr. Taylor, president of Wake Forest College: Rev. Dr. C. Durham, Rev. Dr. Baylus Cade, Rev. Dr. W. R. Gwaltney, State-Auditor Sanderlin, and Rev. G. S. Williams. THE OXFORD BANK. State Bank-Examiner Kitchen to-day made a report to State-Treasurer Bain on the condition of the Bank of Oxford, which closed its doors Monday. His statement shows the assets to be $93,396.40 and the liabilities $80,000, of the latter $40,000 being capital stock. The capital stock, with the exception of $5,000, is held by Dr. Herndon, the president of the bank. R. W. Lassiter will be made receiver. The depositors have no fear that they will not receive dollar for dollar. and it is said the bank's affairs will thus be closed up at once. MILITARY CHANGES. The State Board for the revision of the military code of regulations did much work to-day. Among the. changes which will be made will be the consolidation of the Adjutant-General's and InspectorGeneral's departments and the lopping off of all superfluous staff officers. only those being retained who are necessary for the conduct of the affairs of the Guard. The officers composing the board, accompanied by Adjutant Glenn, dined with Governor Holt this evening. Captain S. A. Ashe. editor of the News and Observer, will deliver the Memorialday address at Wilmington May 10th.

3. March 26, 1892 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, March 26, 1892

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EXCESS OF EXPENSE. DECREASE IN THE EARN NGS OF THE N.C. STATE PENITENTIARY. Inaccurate Agricultural Statistics - A Question of Railway-Bond TexationEffect of the Silvor-Bill Defeat. [Special telegram to the Dispatch.] RALEIGH. N. C., March 25.-Colonel Paul Faison, president of the directors of the penitentiary, to-day reported to Governor Holt that the expenses of that institution for the quarter ending February 29th were $55.443, and the earnings only $23.270. He states that this large excess in expenditures over receipts is due to want of railway work and the extraordinary expenses of equipping and building quarters and other necessary buildings for two large farms, working over 100 horses. OF NO VALUE. The Commissioner of Agriculture informs your correspondent that he finds the agricultural statistics gathered by the tax-list takers for last year to be so extremely incomplete and inaccurate that they will be of little or no value. He has taken legal steps to force the tax-list takers to make the proper reports this year. Judge Connor in chambers here to-day appointed R. W. Lassiter receiver of the suspended Bank of Oxford. CAN THEY BE TAXED? The case of the commissioners of Wake county against the Raleigh and Gaston railway, to ascertain whether that company can be forced to pay taxes on $1,000,000 in bonds which it issued in aid of another railway, is before Judge Connor in chambers here. The case is important. The railway company claims, all the holders of these bonds being non-residents, they cannot be made to pay taxes, and that the railway itself is not liable. but only the bondholders if the latter lived in the State. WILLING TO SERVE. Congressman Alexander in a telegram to-day says he has never said that he would not accept the nomination for Gov. ernor. Ex-Congressman Alfred Moore Waddell. of Wilmington, will at the next commencement of the State University, deliver an ad. dress on the life and character of Colonel William L. Saunders. who died while Secretary of State, and who was for many years secretary of the Board of Trustees and of the Alumni Associat on Before the latter the address will be delivered May 31st. Colonel Waddell 18 one of the finest speakers in North Carolina. A TARIFF-REFORM CANVASS. Someleading Democrats here assert their belief that the defeat of thesilver bill means the nomination of Cleveland and a campaign with tariff reform as the chief issue. One Democrat said he did not think his party could now carry North Carolina, but he felt that New York, Connecticut, and other States were safe. ALLIANCE SPEAKERS. It is positively announced that Marion Butler, the president of the State Farmers' Alliance, and Harry Skinner, of Pitt, its legal adviser and orator. will speak in every county in North Carolina. At a number of places other speakers will aid them, and Colonel Polk will give the people the benefit of some Third-party talk at several of the more important points.

4. March 31, 1892 The Gold Leaf Henderson, NC
Article from The Gold Leaf, March 31, 1892

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which you reside. From enquiries made it appears as if the late cold spell did not do very serious damage to tobacco plants, where the beds were well protected. Mr. R. W. Lassiter. Jr., has been made receiver of the Bank of Oxford. The appointment was made by Judge Connor. The bond was promptly given. The selection is a good one. Whenever you purchase anything from the men who advertise in the GOLD LEAF, if you would tell them that you saw their advertisement in this paper, it would greatly benefit us. Tell them. Mr. and Mrs. F. G. Mitchell, of Newberne, accompanied by Miss Hattie Mitchell, who has been spending some time there, came up Wednesday on a visit to friends and relatives in Henderson. The fruit crop is safe so far and the indications are that this will be an unusually good year in this respect. If 80 this will be a blessing to the people and will help them wonderfully in pulling through the hard times. The Third party meeting of the Farmers' Alliance met in the court house here Saturday and ratified the platform of the St Louis convention. A number of speeches were made both whites and blacks participating. The work of building the second addition to the Henderson Storage warehouse will be begun Monday. Material for the purpose has already been put on the ground. The now addition will be 30x150 feet. J. A. Kelly has the contract. The sad intelligence reached Mrs. W. H. Amerson on Wednesday of the death of her cousin Mr. Merrick Large, of New Hope, Pa. Many of our citizens will remember him as having stopped here on a visit nearly two years ago returning from California where he had been a year for his health. Love softly comes like a gentle dream And fills our heart with joy, Life is brighter and things Just what they seem, Since home is blessed with a pretty baby boy. So sings our young friend Gilliam Hart just now, the cause of which makes him the recipient of many congratulations from his friends. If you are at all skeptical about the benefits to be derived from newspaper advertising, ask Tom Stainback. He says until he went into business for himself and had an opportunity to give the matter a practical test, he had no idea so many people read advertisements. But he is thoroughly convinced now. Lizzie, the little daughter of Mr. and Mrs. J. A. Harrell, had the misfortune to break her arm one day last week. She was in her father's printing office in Weldon and fell over some obstacle which threw her to the floor with the result above stated. The broken bones were properly set and the little patient is now doing very well. The sermon to the graduating class of the Louisburg Female College will be preached by Rev. E. A. Yates, D. D., of Durham, on Sunday, May 29th. The address before the Literary Societies will be delivered by Hon. Walter R. Henry, of Henderson, in the College Chapel, June 1st, at 11 a. m.Louisburg Times. Mrs. Charles Tregenza, and child, of Hamilton, Ontario, Canada, who have been visiting friends and relatives in Henderson for some weeks, left for their home Tuesday afternoon. They were accompanied by Miss Louie Bunn daughter of Mr. and Mrs. Robert Bunn who will spend the summer in Canada expecting to be away about six months The remains of Mrs. Flora Best wife of Mr. George Best. of Fremont

5. April 2, 1892 Orange County Observer Hillsborough, NC
Article from Orange County Observer, April 2, 1892

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NORTH CAROLINA NEWS In 1889 C. M Herndon's ice tactory at Durham was burned He has at last won his suit for $10,850, the Supreme Court deciding in his lavor. Roxboro Courier : The Presby. terians 111 Roxboro will make application to the coming meeting of Or. ange Presbytery forthe organization of a church in R xboro. The Bank of Oxford closed its doors March 21st. All depositors and stockholders will he paid in full. The suspension was caused by the desire of Dr Herndon, the Pres ident and principal stockholder to retire from business. It in thought that a National Bank will soon re. place.the one just closed. Raleigh Signal: The Burlington Hawkeye of this week is brimful of attacks on Judge Spier Whitsker because he WAN too merciful in his punishments at Alamance court last week. No officer has ever yet RUI. fered on account of being merciful, and it is not likely that the Hawkeye or any other visionary orb can burt Judge Whitaker for acts of the kind. Better find some. other pretext for the next assault. Greensboro Record: To-day new books of the Keeley Institute at this place, were opened in the name of the Durham syndicate. with Mr Neil Edwards, of Durham, 8a book keeper. There are now in the institute thirty eight under treatment-the largest number ever enrolled. Judge Eller, the manager, KayM every room is full, and be is -out to day honting rooms for fifty more applicants, who are expected next month. It has just leaked out that three young Granville county farmers were enticed by a "green goods" letter to go to New York to invest three hundred dollars in counterfeit money. It was their intention, of course, to circulate $3,000 of bad paper among, their neighbors and in the towns in the neighborhood But the usual thing happ ened. When they were safely in their own rooms and with doors looked they undid the packages, and the Oxford Day says, found insteal of greenbackthree brickbats. Durham Globe : Durham boasts and has a right to boast. of her tac tories and railroad facilities. The amounts paid out weekly by the Durham Bull and the Duke branch of the American Tobacco company are a God send to Durham me chants. However much it may at feet the producers, the fact still re mains uncontrovertible, that there concerns give more employment and at better wages, to the poor white girls of North Carolina than all the balance of the philanthropic men in this State.

6. April 7, 1892 The Caucasian Raleigh, Goldsboro, Clinton, NC
Article from The Caucasian, April 7, 1892

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THE WORLD'S NEWS SINCE LAST THURSPAY, CAREFULLY ASSORTED AND CONDENSED FOR BUSY PEOPLE. State. The colored Agricultural and Mechanical College will be located at Greensboro. The Bank of Oxford has closed its doors and Judge H. c. Connor appointed a receiver of it. A fox hound returned the other day to Raleigh from Texas. He made the trip on foot it three weeks. I Mrs. Bettle Troutman, of Rowan county, committed suicide Friday by cutting her throat. Domestic troubles were the cause. Two Mormon missionaries were driven from Chapel Hill Saturday. e They were endeavoring to make converts it that section. i The Rev. c. T. Bailey has so far recovered as to be out daily but his vocal organs are too much affected for him to speak distinctly. Maj. C. M. Stedman in answer to a letter says he does not desire the nomination for Governor and could not accept if it were tendered him. Senator Vance will deliver the address before the joint literary societies of the University of Virginia at the commencement next June. John Arrington, colored, of Wilson, was instantly killed near Florence, S. C. Thursday night. while jumping from a rapiday moving train. John Bailey, of Asheville, while walking across a trestle on the Western N. C. railroad, Monday, was run down by a train and instantly killed. Greensboro has been chosen as the place for the colored industrial col. lege and has been given until April 27th to pay the balance of the amount pledged. Rock Mount Argonaut: We hear of a great many of our farmers who are going into raising rice. There IS no reason why rice culture should not be a very profitable industry on our bottom lands/ The Greensboro Record says the Mt. Airy Granite Company has just closed a contract to deliver $10,000 worth of granite to be used in the government building at Jacksonville, Fla. Rev. W. S. Plumer Bryan, of Asheville, has accepted the cal! of the Second Presbyterian church of Cincinuati to its pastorate, which has been vacant about three years. It is one of the largest and wealthiest churches in the city. John C. Davis, the Wilmington defaulter, was arrigned in the criminal court of that city last week and his counsel stated that he was unable to plead because he was insane and the question of hissanity wa ordered to be submitted to a jury. An affidavit was then made by the prisoner that he could not get a fair trial before Judge Meares and asking that the case be removed to the Superior court and the removal was ordered.