Article Text
P A Winston Bank suspends. WINSTON, N. C., Aug. 18.-[Special.]The People's National bank has temporarily suspended because of inability to get currency.
12017. Peoples National Bank (Winston, NC)
Bank Information
- Episode Type
- Suspension → Reopening
- Bank Type
- national
- Bank ID
- 4292
- Charter Number
- 4292
- Start Date
- August 18, 1893
- Location
- Winston, North Carolina (36.103, -80.261)
Metadata
- Model
- gpt-5-mini
- Short Digest
69d5705a
Response Measures
None
Receivership Details
- Depositor recovery rate
- 17.5%
- Date receivership started
- 1931-06-29
- Date receivership terminated
- 1937-01-30
- OCC cause of failure
- Governance
- Share of assets assessed as good
- 26.9%
- Share of assets assessed as doubtful
- 37.2%
- Share of assets assessed as worthless
- 36.0%
Description
The People's (Peoples) National Bank of Winston suspended on Aug 18, 1893, citing inability to secure currency and to realize on securities; reports state the bank was solvent. It reopened after ~30 days on Sept 21, 1893. No article describes a depositor run; suspension attributed to inability to obtain currency (funds from depository/correspondents) and to realize assets.
Events (4)
1.
April 28, 1890
Chartered
- Source
- historical_nic
2.
August 18, 1893
Suspension
- Cause
- Correspondent
- Cause Details
- Temporarily suspended due to inability to secure currency and realize upon securities; failures to receive funds from the bank depository in Richmond and other points cited as precipitating cause; bank described as solvent elsewhere in reports; shortage of small change noted when currency was selling at a premium (liquidity shortage).
- Newspaper Excerpt
- The People's National bank has temporarily suspended because of inability to get currency.
- Source
- newspapers
3.
September 21, 1893
Reopening
- Newspaper Excerpt
- The People's National Bank, of Winston, N. C., which suspended payment August 18, has been permitted to reopen its doors for business.
- Source
- newspapers
4.
June 29, 1931
Receivership
- Source
- historical_nic
Newspaper Articles (14)
Click image to open full size in new tab
Click image to open full size in new tab
Article Text
ANOTHER AT WINSTON The People's National Bank Goes Up To-day. It Is Temporary and Shortage of Currency the Cause. WILL OPEN AFTER THINGS GET O. K. People Who Come and Go-Brief Brevities of Interest to All Readers of The Globe. WINSTON, N. C, Aug. 18.-[Special.]The People's National bank closed its doors this morning and announced that it had temporarily suspended. The cause given is that it has been unable to get currency. It appears that the bank will be able to resume business as it has ample assets, but it could not meet the demand for small change, when currency is selling at a premium of $40 on the thousand. There is no doubt but what the bank is solvent and will open on time, but good business judgement caused it to close its doors for the present. DAILY SENTINEL.
Click image to open full size in new tab
Article Text
FROM WASHINGTON. [Correspendence of the Alexandria Gazette.] WASHINGTON, D. C., Aug. 18. Comptroller Eckels was to-day informed that the Peoples' National Bank of Winston, N. C., capital $100,000, had suspended. The total number of fourth-class postmasters appointed to-day was 103, of whom 63 will fill the places of removed republicans. The changes in Virginia were as follows: Hillsborough, Loudoun county, Geo. W. Wiley appointed postmaster vice John T. Spates, removed ; Lennig, Halifax county, Jno. M. Carrington, vice Jas. E. Canada, resigned Lowmoor, Alleghany county, Teresa Rowan, vice Benj. Karnes, resigned Rodophil, Amelia county, J.H. Anderson, vice H. C. Enroughty, removed; White Plains, Brunswick county, Josephine L. Branch, vice Jos. W. House, removed. Secretary Carlisle has requested the resignation of J. Webb Flanagan, collector of customs at El Texas-the man who, as a delegate to a national republican convention, asked the famous question, "What are we here for?" Attorney-General Olney has decided that there is no power lodged in any officer of the government to extend the time for the withdrawal of domestic whisky fromabonded warehouses. This is the last step in the movement to obtain relief for distillers. It is becoming more and more apparent that the administration is whipping in the democrats who don't agree with its silver policy, and that when a vote shall be taken on the bill to repeal the Sherman act it will have a majority of both houses of Congress in its favor. It is reported at the Capitol to-day that the three members of the commission appointed to investigate the charge of frauds in the New York customs' house are each drawing $25 a day and have been doing so since the date of their appointment, nearly three months ago, though they have done and are doing little or nothing. A well-known banker of this city at the Capitol to-day said currency in large amounts was selling in New York yesterday at three per cent. premium. Among the bills introduced in the Senate to-day, was one to allow individual holders of government bonds to exchange them for currency at the Treasmry. As anticipated in this correspondence yesterday, the Senate finance committee to-day, by a vote of all its republican and two of its democratic members, Messrs. Voorhees and McPherson, reported a bill repealing the purchasing clause of the Sherman silver act, and declaring it to be the policy of the government to continue the use of both gold and silver coin as standard money. Mr. Voorhees says he will call this bill up as soon as the bill allowing the banks circulation to the full amount of the par value of their bonds shall be disposed of. The minority of the committee say they will oppose it at every point unless it shall provide for the free coinage of silver at a ratio of 20 to 1. It is the evident purpose of democrats of the Senate to sidetrack the silver bill until the bank bill referred to shall be passed. Secretary Morton of the Agricultural Department said to-day "All advocates of free coinage say they are laboring in behalf of the poor man. They declare thatsilver is the poor
Click image to open full size in new tab
Article Text
Forced to Close Its Doors. [Special telegram to the Dispatch.] WINSTON, N. C., August 18.-The People's National Bank of this place was forced to close its doors this morning on account of inability to realize upon its assets. National-Bank-Examiner J. C. Buxton is in charge. The bank seems to be perfectly solvent, and it is hoped the suspension is only temporary. The suspension was precipitated by failure to receive funds from the bank depository in Richmond and at other points.
Click image to open full size in new tab
Article Text
COULD NOT REALIZE ON THEIR ASSETS. SUSPENSION OF THE FOUR BANKS OF LEMAR. IOWA-OTHER BANK TROUBLES. St. Louis, Aug. 18.-A dispatch from Lemar. Iowa, says: The four banks at this place failed to open their doors this morning. They are the First National. capital $100,000; Lemar National, same capital; German-American Savings, $50,000 capital and German State Bank. $50,000. Each has a large sur plus of accounts, and the four have been ranked among the best institutions in the State. They closed because of the impossibility of getting cash. All were in good condition for ordinary times, but withdrawals of cash had been steady and collaterals could not be realized on. The action of the banks was a surprise. and has caused a panic in the town. Officers of the banks say they will pay every dollar when they can liquidate advantageously. Aurora. III., Aug. 18.-The Kendall County Bank. a private concern owned by M. R. Cornell at Yorkville, III., closed its doors yesterday. owing to Inability to realize on assets. The assets are placed at $70,000 and the Habilities at $65,000. Washington, Aug. 18.-Controller Eckels WaS to day informed that the People's National Bank of Winston, N. C., capital $100,000, had suspended.
Click image to open full size in new tab
Article Text
NORTH CAROLINA BANK. WASHINGTON. Aug. 18.-Comptroller Eckels was today informed that the Peoples' National bank of Winston, N. C., capital $100,000, had suspended.
Click image to open full size in new tab
Article Text
LATER NEWS WAIFS. FINANCIAL AND COMMERCIAL. The People's National Bank, of Winston, N. C., capital $100,000, has suspended. Lerears, La, was surprised by the suspension of all the banks in the city. They were the First National and Lemars National, with a capital of $100,000 each, and and the Lemars State and German Savings Banks. Notices were posted on the doors that the suspensions are due to inability to realize OR assets, but that all depositors will be paid. The First National Bank of Anthony, Kan., which suspended payment in July was permitted to reopen its doors to business. The Waxahachie National bank of Waxahachie, Tex., which suspended payment August 11, was permitted to resume business. PUEBLO, CoL-Bank Examiner J. Sam Bro wn has given permission to the Central National Bank, which suspended July 15. to resume business. The American and Western national banks, which suspended the same day, have received permission from Comptroller Eckels to resume and are rapidly complying with the conditions required.
Click image to open full size in new tab
Article Text
WINSTON IS HIT AGAIN. The People's National Bank Suspends Payment. WINSTON, N. C.-The People's Na. tional Bank suspended payment temporarily, owing to the impossibility of getting currency to transact the day's business. There were balances due the bank at Richmond, Baltimore and other cities, but the currency could not be obtained from the banks there. The fullowing notice was placed on the bank door: "Owing to the facts that we cannot secure currency and that we are unable to realize upon our securities, the business of this bank is temporarily susW. A. BLAIR, President." pended. The announcement took the people somewhat by surprise, as the bank was known to be in good condition; besides, it has been carefully managed, and every remittance and every, collection is paid up to date,
Click image to open full size in new tab
Article Text
THE WORLD AT LARGE. Summary of the Daily News. WASHINGTON NOTES. SECRETARIES GRESHAM and Carlisle and Postmaster-General Bissell have returned to Washington from Deer Park and Oakland. COMPTROLLER ECKELS has permitted the Greely national bank, of Greely, Col., to resume business. MINISTER BLOUNT has returned from Honolulu, and while he declines to talk it is believed that he favors sustaining the present provisional government. THE president has sent to the senate the nominations of Charles H. Page as collector of customs for Oregon and Jefferson A. Huff as judge of probate in the county of Grand, Utah. THOMAS F. Oakes, of New York; H. W. Paine, of Milwaukee. and Henry Crouse, president of the Missouri, Kansas & Texas railway, have been appointed receivers of the Northern Pacific railway. THE situation in congress is so mixed that there is great doubt as to what legislation can be enacted. No unconditional repeal bill can be passed, and if a free coinage bill is passed it is believed that the president will veto it. A BILL has been introduced in the senate to increase by ten the number of Cherokees entitled to allotments in the strip and if this passes it will mean a still further delay in the opening. SECRETARY GRESHAM is not satisfied with the Behring sea decision, because it will put the United States to a great deal of trouble and expense in guarding the seals. HARTER, one of the anti-silverite leaders, fears that the bill for free coinage at the ratio of 20 to 1 will pass the house. THERE is no foundation for reports that the administration intends to discipline silver democrats. IT is believed that Henry Loomis Nelson, a Kentuckian, now a resident of New York, will be made director of the mint. SECRETARY SMITH has finally consented to appoint an allotting agent for the Kickapoo lands, and there is at last a prospect of getting that reservation open to settlement. J. LOGAN CHIPMAN, congressman from the First Michigan district, is dead. SECRETARY SMITH was shown a dispatch to the effect that the Atlanta Journal had called upon congress to pass a free coinage bill. The secretary said no significance should be attached to the editorials of this paper on account of the fact that he still holds a block of its stock. E. O. LEECH, ex-director of the mint, Delieves that the Wilson repeal bill will pass the house, but that the senate will amend it so as to provide for free coinage of silver at a higher ratio, which will not be acceptable to the president. SECRETARY CARLISLE has requested the resignation of J. W. Flanagan, colloctor of customs at El Paso, Tex. COMPTROLLER ECKELS has been informed that the People's national bank of Winston, N. C., capital $100,000, had suspended. THERE appears to be a concerted move in labor circles to forward as many of the unemployed to Washington as possible, so that their condition may be visible to congress.
Click image to open full size in new tab
Article Text
THE WORLD AT LARGE. Summary of the Daily News. WASHINGTON NOTES. THERE is no foundation for reports that the administration intends to discipline silver democrats. IT is believed that Henry Loomis Nelson, a Kentuckian, now a resident of New York, will be made director of the mint. E. O. LEECH. ex-director of the mint, believes that the Wilson repeal bill will pass the house, but that the senate will amend it so as to provide for free coinage of silver at a higher ratio, which will not be acceptable to the president. SECRETARY CARLISLE has requested the resignation of J. W. Flanagan, collector of customs at El Paso, Tex. COMPTROLLER ECKELS has been informed that the People's national bank of Winston, N. C., capital $100,000, had suspended. THERE appears to be a concerted move in labor circles to forward as many of the unemployed to Washington as possible, so that their condition may be visible to congress. SECRETARY CARLISLE has given to Senator Voorhees a statement of what it would cost to recoin the silver money of the country at the ratio of 20 to 1, if such be adopted. THE government receipts for nineteen days of August were $15,640,000; receipts for fiscal year, $46,545,776. Expenditures for month, to date, $22,295,000; expenditures for fiscal year, $61,882,888. SPEAKER CRISP on the 21st announced the new committees. To the surprise of many Wilson succeeded Springer as chairman of ways and means and Sayers displaced Holman on appropriations. THERE are some members of congress who believe that by the middle of September it will have been demonstrated that no compromise can be reached on the silver question and an adjournment will be taken. SENATOR CHANDLER has introduced a resolution declaring that John Martin was never legally elected senator from Kansas and is not entitled to the seat. THE marine hospital bureau has received a telegram from Dr. Porter. state health officer of Florida. stating that there is no yellow fever at Tampa. Another dispatch reports a new case of fever at Brunswick, Ga. THE president has issued his proclamation opening the Cherokee strip to settlement at the hour of 12 o'clock noon, central standard time, Saturday, September 16. THERE is a "sport that China will not retal:ate for the Geary law until after the next session of congress.
Click image to open full size in new tab
Article Text
WINSTON IS HAPPY ! The People's National Bank Resumed To-day. Everything All Lovely and the Capital and Accounts G. K. ALL THE BANKS OF WINSTON IN IT This Shows That the Hard Times Are Coming to an End in the Progressive Twin City. WINSTON, Sept. 21.-[Special.]-The People's bank, of this city, after thirty days suspension, resumed business this morning. The capital, surplus and undivided profits are unimpaired. All the Winston banks are now transacting business as usual before the panic. DAILY SENTINEL.
Click image to open full size in new tab
Article Text
Winston, N. C., Bank Resumes. The People's National Bank of Winston, N. C., which suspended payment August 18, has been permitted to reopen its doors for business.
Click image to open full size in new tab
Article Text
Another Winston Bank Reepens. (By telegraph to the Dispatch.) WASHINGTON, D. C., September 21.The People's National Bank, of Winston, North Carolina, which suspended payment August 18th, has been permitted to reopen its doors for business.
Click image to open full size in new tab
Article Text
PEOPLES' NATIONAL BANK ITRESU MED BUSINESSTHURSDAY MORNING. Capital, Surplus and Univided Profits Unimpaired-No Assessments Made on Stockholders. Winston now has no closed banks! The Peoples' resumed business Thursday morning at the old stand. Thirty days ago the bank suspended payments, temporarily, owing to a lack of currency. Be itsaid to the credit of the institution, the capital, surplus and undivided profits were unimpaired, hence there were no losses to anybody. Another fact worth mentioning is that the bank resumed business without making any assessment on the stockholders. President Blair tells THE SENTINEL that the bank resumes business with better backing and stronger resources than it ever had before. Nearly all of the depositors have signed an agreement not to check for a given time, but the management will place all amounts to the accounts subject to check as soon as possible.