Bank of Yanceyville - Yanceyville, NC

Bank Information

Episode Type: Suspension → Closure
Bank Type: private
Start Date: December 15, 1860
Location: Yanceyville, North Carolina (36.404, -79.336)

Metadata

Model: gpt-5-mini
Short Digest: f25b89f9

Response Measures

None

Description

Article (Orange County Observer, 1883-09-01) reports a court ruling that the Bank of Yanceyville suspended specie payments on 1860-12-15 and that this suspension was held to be an act of insolvency. The piece is about a long-running suit by creditors against private stockholders; no run is described and the bank remained insolvent/closed. OCR correction: 'Deec.' -> 'Dec.'.

Events (1)

1. December 15, 1860 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Suspension of specie payments (Dec 15, 1860) judged an act of insolvency, triggering liability of private stockholders.
Newspaper Excerpt: the suspension of specie payment on Dec. 15th, 1860, was an act of insolvency
Source: newspapers

Newspaper Articles (1)

1. September 1, 1883 Orange County Observer Hillsborough, NC

Article from Orange County Observer, September 1, 1883

Click image to open full size in new tab

Article Text

ALAMANCE COURT. We learn that on Wednesday of the term was tried the suit of Long, administrator, & C. J. Cowles against the Stockholders of the Bank of Yanceyville. This action was commenced on Dec. 30th, 1872, and has been twice to the Supreme Court. A jury was waived and the facts found by his Honor Judge MacRae. The plaintiffs were represented by E. S. Parker, Esq., and defendants by Col. E. B. Withers, Capt. James A. Graham, and Major J. W. Grabam. After argument bis Honor held that the suspension of specie payment on Deec. 15th, 1860, was an act of insolvency and the liability of the privato stockholders then began, and they were protected by the Statute of Limitations. Appeal again to the Supreme Court by the plaintiffs. It is believed that this is the last of. the old bank suits.