11916. Farmers Bank (Roxboro, NC)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
April 27, 1895
Location
Roxboro, North Carolina (36.394, -78.983)

Metadata

Model
gpt-5-mini
Short Digest
84f432e2

Response Measures

None

Description

State authorities (State Treasurer and Bank Examiner) had the bank closed and a receiver appointed (late April 1895). Shortly afterward the appointment was vacated/withdrawn as premature and the bank continued open and solvent after the ex-cashier furnished a bond. No run on deposits is mentioned.

Events (5)

1. April 27, 1895 Suspension
Cause
Government Action
Cause Details
Closed by State Bank Examiner following suit by State Treasurer; receiver appointed by judge.
Newspaper Excerpt
State Treasurer Worth to-day brought suit against the Farmers' Bank at Roxboro, which State Bank Examiner Palmer closed Saturday.
Source
newspapers
2. April 29, 1895 Receivership
Newspaper Excerpt
Upon State Treasurer Worth's application for the appointment of a receiver for the Farmers Bank, at Roxboro', Judge Starbuck appointed J. S. Merritt, of Roxboro'. Receiver appointed for the Farmers' Bank at Roxboro; Cashier W. A. Jones ... in jail. and J. S. Merritt ... was yesterday appointed receiver, has not yet taken charge, and the bank was open and doing business to-day. (Richmond Dispatch, Apr 29-30, 1895).
Source
newspapers
3. April 30, 1895 Other
Newspaper Excerpt
The president of the Farmers' Bank informed your correspondent to-day that his bank was perfectly solvent: that the loss by the cashier and the robbery combined has been covered by a bond to-day given the bank by the late cashier, W. A. Jones. ... The bank was open and doing business to-day.
Source
newspapers
4. April 30, 1895 Reopening
Newspaper Excerpt
The bank opened up as usual this morning. as if nothing had occurred, and it is definitely 'given out that the depositors will not lose a penny.
Source
newspapers
5. May 1, 1895 Other
Newspaper Excerpt
In the Superior Court here to-day proceedings were had to vacate the order by Judge Starbuck, appointing a receiver for the Farmers Bank, of Roxboro'. These proceedings showed that the appointment of a receiver, as made yesterday, was premature and void, because there was not thirty days' notice. The Judge then withdrew the order appointing the receiver.
Source
newspapers

Newspaper Articles (5)

Article from The Roanoke Times, April 30, 1895

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Article Text

Receiver Appointed For the Rozboro Ban R RALEIGH, N. C., April 29.-State Treasurer Worth to-day brought suit against the Farmers' Bank at Roxboro, which State Bank Examiner Palmer closed Saturday. He also made application for a receiver and the judge appointed J. S. Merritt. of Roxboro to that position. Cashier W. A. Jones, of the bank, is yet in jail.


Article from Richmond Dispatch, April 30, 1895

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Article Text

ROXBORO'S BANK OPEN AS USUAL. Depositors Will Not Lose a PennyBank Made Safe. ROXBORO', N. C., April 29.-(Special.)Mr. W. A. Jones, the defaulting cashier of the Farmers Bank, who gave himself up Saturday evening, had a hearing Saturday night, waived examination, and gave bail for his appearance this morning at 10 o'clock, when his case came up, Messrs. Merritt and Bryant appearing for him. He was bound over to next court in a $3,000 bond, which he immediately furnished. The bank opened up as usual this morning. as if nothing had occurred, and it is definitely 'given out that the depositors will not lose a penny. The exCashier has made the bank safe against loss by his shortage. A RECEIVER APPOINTED. RALEIGH, N. C., April 29.-(Special.)Upon State Treasurer Worth's application for the appointment of a receiver for the Farmers Bank, at Roxboro', Judge Starbuck appointed J. S. Merritt, of Roxboro'.


Article from Richmond Dispatch, May 1, 1895

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Article Text

THE FARMERS' BANK SOLVENT. Loss Fully Covered by a Bond Given by the Ex-Cashier. ROXBORO', N. C., April 30.-(Special.)The president of the Farmers' Bank informed your correspondent to-day that his bank was perfectly solvent: that the loss by the cashier and the robbery combined has been covered by a bond to-day given the bank by the late cashier, W. A. Jones. The amount of the bond was $6,000, which more than covers the shortage reported by the bank examiner. The president says the bank has been ready at all times to pay checks drawn upon it, and none has gone to protest. They say they will be able to show that there is no need of a receiver, and that the business will be continued as usual. J. S. Merritt, who was yesterday apopinted receiver, has not yet taken charge, and the bank was open and doing business to-day.


Article from Richmond Dispatch, May 1, 1895

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Article Text

CROPS IN CAROLINA. AVERAGE CONDITIONS AS COMPARED WITH PREVIOUS YEARS. The Novel Contest in the Courts for State Librarian Between the Incumbent and the Claimant-An Order Withdrawn. RALEIGH, N. C., April 30.-(Special.)The first State crop report of this year was issued by the Department of Agriculture to-day. The condition of wheat as compared with that in average years is 86 per cent. : oats, 78; rye, 84; rice, 83. The condition of preparation for corn is 92 per cent. : cotton, 73; tobacco, 91; decrease in cotton acreage, 28 per cent. : increase of hogs raised, 26 per cent; efficiency of labor, 92 per cent. CONTEST FOR AN OFFICE. To-day an important and novel case came up in the Superior Court here before Judge Starbuck. March 15, 1893. J. C. Ellington was elected State Librarian by the Library Board to serve two years under an act ratified March 1st of that year. January 19th, this year, he was re-elected. March 13th the Fusionists in the Legislature elected John D. Stanford librarian. The latter demanded the office. Ellington refused to surrender it. Counsel for Ellington argued that his term began March 1st, and that Stanford was elected during Ellington's term. Counsel for Stanford argued that the election of Ellington and giving of bond by the latter March 15, 1893, fixed that date as the beginning of his term, as fully as if fixed by law. Counsel for Ellington then argued that granting this the Legislature had elected Stanford to an office to which Ellington had at the time a full title. Governor Carr and Secretary-of-State Coke are witnesses in this case. Evidence will be taken to-morrow. ORDER WITHDRAWN. In the Superior Court here to-day proceedings were had to vacate the order by Judge Starbuck, appointing a receiver for the Farmers Bank, of Roxboro'. These proceedings showed that the appointment of a receiver, as made yesterday, was premature and void, because there was not thirty days' notice. The Judge then withdrew the order appointing the receiver. SILVER PLATFORM. Ex-Judge Speer Whitaker said to me to-day that he has only one platform now, this being the free coinage of silver at 16 to 1 ratio. He will vote for the party, whatever it may be, which makes this the issue in the campaign. Ex-State Democratic Chairman Simmons in the course of an interview today said he had for some months believed that there would be no fusion of Populists and Republicans, in the next campaign, but that whichever party puts up a silver candidate for the presidency will absorb the Populists. Ex-Congressman John Nichols is a strong McKinley man. He makes the positive assertion that protection is as strong in Georgia as it is in Massachusetts to-day. Revenue-Collector Simmons was advised to-day of the seizure of two illicit distilleries, one in Caswell county and one in Montgomery county. NO TRUTH IN IT. Solicitor E. W. Pou, who arrived to-day from Johnston county, says there is no truth in the rumors that Isaac Wright (colored), of this city, had been lynched there. There was a large gathering of Seaboard Air-Line engineers here yesterday. All the divisions of the system were represented. Engineers Fetzer, Jones, Flynn, Cable, and Pemberton, of the Georgia, Carolina and Northern Division, were among those present. A letter from Reidsville says 300 exConfederate veterans from Rockingham county will come here May 20th in a special train. There are now ninety-nine pupils in the white institution for the blind here. There are the same number of blind and deaf mutes in the colored department. This is the largest number ever in the latter. Major Gentry, of Stokes county, who was charged with the murder of a negro named Poindexter, has been acquitted. The famous murder case of Hoke Secrest will be tried at Rutherfordton this week. The rumors of oyster dredging in the North Carolina sounds are untrue.


Article from Richmond Dispatch, May 1, 1895

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Article Text

In the Superior Court here to-day proceedings were had to vacate the order by Judge Starbuck, appointing a receiver for the Farmers Bank, of Roxboro'. These proceedings showed that the appointment of a receiver, as made yesterday, was premature and void, because there was not thirty days' notice. The Judge then withdrew the order appointing the receiver.