12008. Wilmington Savings & Trust Company (Wilmington, NC)

Bank Information

Episode Type
Run Only
Bank Type
trust company
Start Date
August 28, 1899
Location
Wilmington, North Carolina (34.226, -77.945)

Metadata

Model
gpt-5-mini
Short Digest
2501f141

Response Measures

Accommodated withdrawals, Public signal of financial health, Books examined

Description

Multiple contemporaneous newspaper dispatches (dated Aug 28–29, 1899) report a brief depositor alarm and withdrawals (about 4% of depositors) after the cashier George Sloan suddenly disappeared. Directors/president publicly guaranteed deposits and posted notices; the bank met calls and the alarm subsided. No suspension, receivership, or reopening is mentioned — thus classified as run_only.

Events (1)
1. August 28, 1899 Run
Cause
Rumor Or Misinformation
Cause Details
Sudden disappearance/absence of the cashier created alarm among depositors (no evidence of insolvency); directors issued guarantees to indemnify and reassured depositors.
Measures
President and directors gave written guarantees to indemnify depositors; other local banks offered aid; passbooks audited and a notice posted that depositors would be paid in full without requiring usual notice.
Newspaper Excerpt
The sudden disappearance of George Sloan ... created unnecessary alarm among some of the depositors, and quite a number went to the bank during the day and withdrew their deposits.
Source
newspapers

Newspaper Articles (9)
1. August 29, 1899 Daily Press Newport News, VA
Article from Daily Press, August 29, 1899

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Article Text

Directors Declare the Bank Will Not Lose a Dollar. MISSING MAN CRAZY, MAYBE Sudden Disappearance of Cashier George Sloane, of the Wilmington, N. C., Savings and Trust Co. Almost Causedia Run on the Bank. (By Telegraph.) (WILMINGTON, N. C., Aug. 28.-The sudden disappearance of George Sloan, cashier of the Wilmington Savings and Trust Company. who left here last evening on the northbound train of the Atlantic Coast Line, created unnecessary alarm among some of the depositors, and quite a number went to the bank during the day and withdrew their deposits. Many others, however. who wen't to the bank let their money remain, after ascertaining that there was no danger of loss. 1 GAVE GUARANTEES. J. W. Norwood, president of the bank, and also president of the Atlantic National Bank. a man of large means, and the directors also gave their written guarantees 'to all who desired it to indemnify them against loss. The other banks here were also ready to extend any aid that might be asked. The deposits aggregate $660,000. The number of depositors approximate four thousand. Up to 9 o'clock tonight less than four per cent of these had withdrawn their deposits. A director of the bank stated to the representative of the Associated Press this evening that the cashier's books were audited from time to time and pass books called in for venification. WILL NOT LOSE A DOLLAR. This work has been thoroughly done during the past five days, and as a result of this examination. the directors will publish a card tomorrow stating that the bank will not lose a dollar by the absence of the cashier. They will also publish another card, showing that the stock is worth 60 per cent. premium after paying depositors in full, and offering to buy any stock offered at one hundred and sixty dollars per share. A notice was also posted on the door of the bank announcing that all depositors would be paid in full without requiring the usual sixty days notice. Mr. Sloan is a married man, about 30 years old. A GOODLY MAN. His habits are exemplary, and he is not addicted to drinking or other vices. The securities and all of the cash of the savings bank except $807 are held by the directors on deposit in another bank, and none of the directors believe he has been guilty of intentional wrong. His family believe that from overwork and bad health his mind was unbalanced. or he would not have left the city. It is thought that the uneasiness among depositors is rapidiy giving way to a feeling of confidence. and tat there will be little or no trouble tomorrow.

2. August 29, 1899 The Times Richmond, VA
Article from The Times, August 29, 1899

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Article Text

Early Scare of Depositors Soon Gave Way to Feeling of Security. MIND, NOT BOOKS, UNBALANCED Family of George Sloane Believe Overwork and Bad Health Caused Him to Suddenly Disappear, Eight Hundred Dollars Covers the Sum in Which the Bank is Short. WILMINGTON, N. C., Aug. 28.-The sudden diseappearance of George Sloane, cashier of the Wilmington Savings and Trust Company who left here last evening on the north-bound train of the Atlantic Coast Line, created a great sensation and alarm among the depositors, and quite a number went to the bank during the day and withdrew their deposits. Many others, however, who went to the bank let their money remain after ascer. taining that there was no danger of loss. J W. Norwood, president of the bank, and also president of the Atlantic National Bank, a man of large means, and the directors also gave their written guarantees to all who desired It to indemnify them against loss. The other banks here were also ready to extend any aid that might be asked. The deposits aggregate $603,000. The num. ber of depositors approximates four thonsand. Up to 9 o'clock to-night four per cent. of these had withdrawn their de. posits. BANK WILL LOSE NOTHING, A director of the bank stated to the representative of the Associated Press this evening that the cashier's books were audited from time to time and pass-books called in for verification This work has been thoroughly done during the past five days, and, as a result of this examination, the directors will publish a card to-morrow, stating that the bank will not lose a dollar by the absence of the cashier. They will also publish another card stating that the stock is worth 60 per cent. premium after paying depositors in full, and offering to buy any stock offered at $160 per share. A notice was also posted on the door of the bank announcing that all depositors would be paid in full without requiring the usual thirty days notice. THE MISSING CASHIER Mr. Sloane is a married man about thir. ty years old. His habits are exemplary and he is not addieted to drinking or other vices. The securities and all of the cash of the Savings Bank except $807. are held by the directors on deposit in another bank and none of the directors believes he has been guilty of inrentional wrong. His family believe that from over-work and bad health his mind was unbalanced, or he would not have left the city, It is thought that the uneasiness among the depositors is rapidly giving way to 4 feeling of confidence, and that there will be little or no trouble to-morrow

3. August 29, 1899 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, August 29, 1899

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Article Text

THE CASHIER GONE, He Disappears Suddenly from Wilmington, N. C, ALARM AMONG DEPOSITORS. Only Four Per Cent. of Them, However, Withdraw Their Money. EVERY GUARANTEE AGAINST LOSS. Directors Announce They Will Pay All Depositors in Full Without Requiring Usual Notice-Absentee's Habits Exemplary WILMINGTON, N. C., August 28.-The sudden disappearance of George Sloane, cashier of the Wilmington Savings and Trust Company, who left here last evening on the north-bound train of the Atiantic-Coast Line, created a great sensation and alarm among the depositors, and quite a number went to the bank during the day and withdrew their money. Many others, however, who went to the bank, let their money remain, after ascertaining that there was no danger of loss. J. W. Norwood, president of the bank, and also president of the Atlantic National Bank, a man of large means, and the directors of the bank, gave their written guarantees to all who desired them to indemnify them against loss. The other banks here were also ready to extend any aid that might be asked. The deposits aggregate $660,000. The number of depositors approximates four thousand. Up to 9 o'clock to-night 4 per cent. of these had withdrawn their deposits. BANK LOSES NOTHING. A director of the bank stated to the representative of the Associated Press this evening that the cashier's books were audited from time to time, and passbooks called in for verification. This work has been thoroughly done during the past five days, and as a result of this examination the directors will publish a card to-morrow, stating that the bank will not lose a dollar by the absence of the cashier. They will also publish another card stating that the stock is worth 60 per cent. premium after paying depositors in full, and offering to buy any stock offerd at $160 per share. A notice was also posted on the door of the bank, announcing that all depositors would be paid in full without requiring the usual thirty days' notice. ABSENTEE'S HABITS GOOD. Mr. Sloan is a married man, about 30 years old. His habits are exemplary, and he is not addicted to drinking or any other vice, The securities and all of the cash of the savings bank, except $807, are held by the directors on deposit in another bank, and none of the directors believes he has been guilty of intentional wrong. His family believe that from overwork and bad health his mind was unbalanced, as he would not have left the city. It is thought that the uneasiness among the depositors is rapidly giving way to a feeling of confidence, and that there will be little or no trouble to-morrow.

4. August 29, 1899 The News & Observer Raleigh, NC
Article from The News & Observer, August 29, 1899

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Article Text

THE CASHIER VANISHES. Run on Wilmington Savings and Trust Company Averted. Wilmington, N. C., Aug. 28.-The sudden disappearance of George Sloan cashier of the Wilmington Savings and Trust Company, who left here last evening on the northbound train of the Atlantic Coast Line, created unnecessary alarm among scime of the depositors, and quite a number went to the bank during the day and withdrew their deposits. Many others, however, who went to the bank let their money remain after ascertaining that there was no danger of loss. J. W. Norwood, president of the bank, and also president of the Altlanta National Bank, a mian of large means, and the directors also gave their written guarantees to all who desired it to indemnify them against loss, The other banks were also ready to extend any aid that might be asked. The deposits aggregate $660,000. The number of depositors approximates 4,000. Up to 9 o'clock tonight less than 4 per cent of these had withdrawn their deposits. A director of the bank stated to the representative of the Associated Press this evening that the cashier's books were audited from time to time and pass books called in for verification. This work has been thoroughly done during the past five days, and as a result of this examination the directors will publish a card tomorrow stating that the bank will not lose a dollar by the absence of the cashier. They will also publish another card stating that the stock is worth sixty per cent premium after paying depositors in full, and offering to buy any stock offered at $160 per share. A notice was also posted on the door of the bank announcing that all depositors would be paid in full without requiring the usual thirty-days' notice. Mr. Sloan is a married man about thirty years old. His habits are exemplary and he is not addicted to drinking or other vices. The securities and all of the cash of the savings bank except $807 are held 'by the directors on deposit in another bank, and none of the directors believe he has been guilty of intentional wrong. His family believe that from overwork amid bad health his mind was unbalanced, or he would not have left the city. It is thought that the uneasiness among depositors is rapidly giving way to a feeling of confidence and that there will be little or no trouble tomorrow.

5. August 29, 1899 The Washington Weekly Post Washington, DC
Article from The Washington Weekly Post, August 29, 1899

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Article Text

CASHIER GONE, RUN ON BANK President Norwood Quiets Alarm by Giving Guarantees Against Loss. Wilmington Savings and Trust Company States that Its Stability Has Not Been Affected by Any Acts of Cashier George Slean. Wilmington, N. C., Aug. 28.-The sudden disappearance of George Sloan, cashier of the Wilmington Savings and Trust Company, who left here last evening on the north-bound train of the Atlantic Coast Line, created unnecessary alarm among some of the depositors, and quite a rumber went to the bank during the day and withdrew their deposits. Many others, however, who went to the bank let their money remain, ascertaining that there was no danger of loss. J. W. Norwood, president of the bank, and also president of the Atlantic National Bank, a man of large means, and the directors also gave their written guarantee, to all who desired it, to indemnify them against loss. The other banks here were also ready to extend any aid they might be asked. The deposits aggregate $560,000. The number of depositors approximated 4,000. Up to 9 o'clock to-night less than 4 per cent. of these had withdrawn their deposits. A director of the bank stated to the representative of the Associated Press 'this evening that the cashier's books were audited from time to time, and pass-books called in for verification. This work has been thoroughly done during the past live days, and as a result of this examination the directors will publish a carl to-morrow, stating 'that the bank will not rose a dollar by the absence of the cashier. They will also publish another card stating that the stock is worth 30 per cent. premium after paying depositors in full, and offering to buy any stock offered at $160 per share. A notice was also posied on the door of the bank announcing that all depositors would be paid in fail, without requiring the usual thirty days' notice. Mr. Sloan is a married man about thirty years old. His habits are exemplary, and he is not addicted to drinking er other vices. The securities and all of the cash t of the savings bank, except $807. are held S by the directors on deposit in another e bank, and none of the directors believe he has been guilty of intentional wrong. His family believe that from overwork e and bad health his mind vas unbalanced, or he would not have left the city. It is thought the uneasiness among depositors is rapidly giving WAY to a feeling be of confidence, and that there will be litg tle or no trouble to-morrow.

6. August 29, 1899 The Morning News Savannah, GA
Article from The Morning News, August 29, 1899

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Article Text

CASHIER SLOAN DISAPPEARS. DEPOSITORS OF A WILMINGTON BANK WERE ALARMED. Mony Withdrew Their Deposits, But Were Soon Reassured-Cashier's Disappearance Did Not Affect Wilmington Savings and Trust Company-Wealthy Men Offered to Indemnify Depositors-His Mind Said to Be Unbalanced. Wilmington, N. C., Aug. 28.-The sudden disappearance of George Sloan, cashier of the Wilmington Savings and Trust Company, who left here last evening on the north-bound train of the Atlantic Coast Line, created unnecessary alarm among some of the depositors, and quite a number went to the bank during the day and withdrew their deposits. Many others, however, who went to the bank let their money remain, after ascertaining that there was no danger of loss. J. W. Norwood, president of the bank and also president of the Atlantic National Bank, a man of large means and the directors also gave their written guarantees to all who desired it to indemnify them against loss. The other banks here were also ready to extend any aid that might be asked. The deposits aggregate $660,000. The number of depositors approximates 4,000. Up to 9 o'clock to-night less than 4 per cent. of these had withdrawn their deposits. A director of the bank stated to the representative of the Associated Press this evening that the cashier's books were audited from time to time and pass books called in for verification. This work has been thoroughly done during the past five days, and as a result of this examination the directors will publish a card to-morrow stating that the bank will not lose a dollar by the absence of the cashier. They will also publish another card stating that the stock is worth 60 per cent. premium after paying depositors in full, and offering to buy any stock offered at $160 per share. A. notice was also posted on the door of the bank announcing that all depositors would be paid in full without 1equiring the usual thirty days' notice. Mr. Sloan is a, married man about 30 years of age. His habits are exemplary, and he is not addicted to drinking or other vices. The securities and all of the cash of the savings bank except $807 are held by the directors on deposit in another bank, and none of the directors believe he has been guilty of intentional wrong. His family believe that from overwork and bad health his mind was unbalanced, or he would not have left the city. It is thought that the uneasiness among depositors is rapidly giving way to a feeling of confidence, and that there will be Ettle or no trouble to-morrow.

7. August 29, 1899 Virginian-Pilot Norfolk, VA
Article from Virginian-Pilot, August 29, 1899

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A CASHIER DISAPPEARS. UNEASINESS AMONG BANK DEPOSITORS IN WILMINGTON. (By Telegraph to Virginian-Pilot.) Wilmington, N. C., Aug. 28-The sudden disappearance of George Sloan, cashier of the Wilmington Savings and Trust Company. who left here last evening on the Northbound train of the Atlantic Coast Line, created unnecessary alarm among some of the depositors, and quite a number went to the bank during the day and withdrew their deposits. Many others, however, who went to the bank let their money remain after ascertaining that there was no danger of loss. J. W. Norwood. president of the bank, and also president of the Atlantic Bank. a man of large means, and the directors also gave their written guarantees to all who desired it to indemnify them against loss. The other banks here were also ready to extend any aid that might be asked. The deposits aggregate $660,000. The number of depositors approximates four thousand. Up to 9 o'clock to-night less than 4 per cent. of these had withdrawn their deposits.

8. August 30, 1899 The Houston Daily Post Houston, TX
Article from The Houston Daily Post, August 30, 1899

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THE SOUTHERN STATES. LEESVILLE. La.-A young man by the name of Wafford shot and killed Red Culbertson at Pickering, Las a saw mill town nine miles south of Leesville. Wafford claims it was a case of self-defense. HOKES BLUFF, Ala.-A serious accident happened to two parties of young people. While riding along the road the hacks ran into each other Miss Josie Dwens, Cornellus Davis and Henry Tidmore being badly hurt. CHARLESTON, S. C.-Rev. H. R. Moseley, D. D., of Florence, Ala., has resigned his pastorate and will after October 1 take charge of the Baptist missionary work in Cuba for the American Home Missionary society. WESSON. Miss.-Quite a party of peop 0 are leaving here for Denver, Colo., to work in a cotton mill. The mill there is working night and day and is furnishing over $1590 in transportation from this point, where there is a surplus of labor. BIRMINGHAM, Ala.-Mrs. Hannah Williams, aged 50, a widow, attempted to rekindle a fire in her store with kerosene. She poured the oil from the can, when a sheet of flame shot up and enveloped her, burning her horribly. She died in great agony five hours later, DURHAM.-Rufus Scoggins and James Parker, two young men of East Durham, are to be tried on a warrant charging them with conspiracy. The young men are supposed to be the ones who kidnaped Dallas Scoggins, while he was on his way from one room of the house to be married. MACON, Miss.-The northeastern and eastern parts of this county were visited by the most severe rain and thunderstorm experienced for years. A negro on the plantation of Mr. Joe Stevens, seven miles northeast, was struck and killed by lightning. The damage to crops was not very great. WILMINGTON, N. C.-The sudden d'sappearance of George Sloan, cashier of the Wilmington Savings and Trust company, who left here for the North on the Atlantic Coast line, created unnecessary alarm among some of the depositors and a number went to the bank during the day and withdrew their deposits. The bank is able to meet all calls and the run was stopped.

9. August 30, 1899 The Watchman and Southron Sumter, SC
Article from The Watchman and Southron, August 30, 1899

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WILMINGTON BANK CASHIER SKIPS. Geo. Sloan of Wilmington Savings and Trust Co. Disappears. Wilmington, N C, Aug 28.-The sudden disappearance of George Sloan, cashier of the Wilmington Savings and Trust Company, who left here last evening on the northbound train of the Atlantic Coast Line, created unnecessary alarm among some of the depositors, and quite a number went to the bank during the day and withdrew their deposits. Many others, however, who went to the bank let their money remain after ascertaining that there was no danger of loss. J. W. Norwood, president of the bank and also president of the Atlantic National Bank, a man of large means, and the directors, also, gave their written guarantees to all who desire it to indemnify them against loss. The other banks here were also ready to extend any aid that might be asked. The depositsaggr -ate $660,000. The number of a. sitors approximates 4,000. Up to 9 o'clock tonight less than 4 per cent of these had withdrawn their deposits.