Bank of Wadesboro - Wadesboro, NC

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 27, 1893
Location: Wadesboro, North Carolina (34.968, -80.077)

Metadata

Model: gpt-5-mini
Short Digest: aeaa5c95

Response Measures

None

Description

Articles (late June–July 1893) describe the Bank of Wadesboro as a branch of the defunct Bank of New Hanover. Courts appointed a receiver for the Wadesboro branch; no run or depositor agitation is mentioned. Therefore this is a suspension that results in receivership/closure. Dates taken from newspaper publication dates (order appointing receiver reported June 29, 1893).

Events (2)

1. June 27, 1893 Receivership

Newspaper Excerpt: Hon. R. T. Bennett, who has been appointed assignee of the Wadesboro branch, refused to turn over the bank to Mr. Davis, the receiver of the New Hanover bank appointed by Judge Connor, and will contest in the courts the right of the latter to take charge of the branch bank at Wadesboro.
Source: newspapers

2. June 29, 1893 Suspension

Cause: Government Action
Cause Details: Court order appointing a receiver for the Wadesboro branch after parent Bank of New Hanover was found defunct; branch taken into receivership.
Newspaper Excerpt: He makes order, however, appointing a receiver for the Bank of Wadesboro, the branch bank.
Source: newspapers

Newspaper Articles (3)

1. June 27, 1893 The State Chronicle Raleigh, NC

Article from The State Chronicle, June 27, 1893

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Article Text

Bank of Wadesboro. It is learned that the condition of the bank at Wadesboro was found to be most excellent, its assets being largely in excess of its liabilities. But a question has arisen as to the status of the branch bank-whether its assets are part of the assets of the parent bank. Hon. R. T. Bennett, who has been appointed assignee of the Wadesboro branch, refused to turn over the bank to Mr. Davis, the receiver of the New Hanover bank appointed by Judge Connor, and will contest in the courts the right of the latter to take charge of the branch bank at Wadesboro.

2. June 30, 1893 The Times Richmond, VA

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Article Text

I LADY'S AWFUL SUICIDE. MRS. A. W. FRAPS CUTS HER THROAT FROM EAR TO EAR. Application Made by the State Treasurer for an Additional Receiver for the Defunct Bank of New Hanover. RALEIGH, N. C., June 29.-Special.There was a suicide this morning that caused considerable excitement, following closely, as it did, on the cutting of Whitaker in the fight yesterday. Mrs. A. W. Fraps, the wife of one of our merchants, cut her throat from ear to ear with a razor at 8 o'clock this morning. She had been in delicate health for some time, and her mind had become impaired from the effects of her illness, but her husband and family did not think her malady of a dangerous nature, and were greatly shocked by the tragedy. She arose as usual, and seemed brighter than she ordinarily was, though she had been very despondent for the past few days. She got a razor belonging to her son, got in bed and then cut her throat, after locking the door securely. She was found dead In the bed by her son. State Treasurer Tate has made an application to Judge Conner to have an additional receiver appointed for the defunct Bank of New Hanover, of Wilmington. The State had on hand $15,000 in this bank at the time that it closed its doors, and the additional receiver will look particularly after its interest. The case was argued this afternoon, the State being represented by F. H. Busbee and Mr. George Rountree appeared in opposition to the application. The Bank of Wadesboro, a branch of the Bank of New p Hanover, was also represented by counb sel. Mr. Junius Davis is the receiver at present, and it is not known what order will be made in the cause, The argument is still proceeding to-night, and the order L will not probably be made before tomorrow. a 25 Judge Conner refused to appoint an additional receiver of the Bank of New Hanover, as requested by application of State Treasurer Tate. He makes order, however, appointing a receiver for the Bank of Wadesboro, the branch R bank. The receiver for the latter bank 4t is not yet named.

3. July 12, 1893 The Times Richmond, VA

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Article Text

THE ARGUMENT BEGUN For Receivers for the Defunct Bank of New Hanover_Other Matters. RALEIGH, N. C., July 11.-Special.Argument was begun before Judge Spier Whitaker, of the superior court, here today on the question of the right of State Treasurer Tate to appoint receivers for the broken Bank of New Hanover and the Bank of Wadesboro, Judge Connor having already issued an order appointing receivers. The question is also involved as to whether or not the Bank of New Hanover and the Bank of Wadesboro, which was a branch of it, are separate or one and same institution. Large bodies of military passed through here to-day en route to Morehead City to the State Guard encampment. Governor Carr, commander-in-chief, left today for the Eastern part of the State, and will visit the camp the latter part of the week. The Chamber of Commerce of Raleigh at a meeting held to-night received a communication from the Chamber of Commerce of New York looking to the united action of the chambers of the country toward relieving the financial stringency. The chamber here adopted resolutions to co-operate in this movement.