Bank of Ensley - Ensley, AL

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: December 1, 1931*
Location: Ensley, Alabama (33.510, -86.886)

Metadata

Model: gpt-5-mini
Short Digest: d5c5ea9d

Response Measures

Full suspension

Other: Liquidating agent and foreclosure proceedings mentioned in 1932 article indicate the bank entered liquidation/receivership.

Description

Article (Jan 25, 1932) reports the bank withstood heavy, silent run for months and that Jan. 10 we had to close because of lack of confidence and an unknown shortage (~$300,000). A later article (Jun 1, 1932) references a liquidating agent and foreclosure fees, indicating permanent closure and liquidation. I infer the Jan. 10 closure occurred in 1932 (newspaper dated Jan 25, 1932). Bank type not explicitly stated; labeled 'state' since name lacks 'National' or 'Trust'.

Events (3)

1. December 1, 1931* Run

Cause: Bank Specific Adverse Info
Cause Details: Heavy silent withdrawals occurring in the months before closure tied to loss of confidence and later discovery of a large unknown shortage (~$300,000).
Newspaper Excerpt: months before the institution closed, it withstood heavy, silent run.
Source: newspapers

2. January 10, 1932 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank was forced to close on Jan. 10 due to lack of confidence and discovery of an unknown shortage (~$300,000).
Newspaper Excerpt: Jan. 10 we had to close, he said, because [a] lack of confidence in the institution, and an unknown shortage of about $300,000.
Source: newspapers

3. June 1, 1932 Other

Newspaper Excerpt: Article refers to Henry Anderton, attorney of the liquidating agent of the Bank [of] Ensley and fees for foreclosing mortgages; indicates bank in liquidation/receivership by this date.
Source: newspapers

Newspaper Articles (2)

1. January 25, 1932 The Birmingham Post Birmingham, AL

Article from The Birmingham Post, January 25, 1932

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Article Text

More About (Continued from Page One) mother supporting the family by selling and odd about small town in which they lived. Atttended College Later went to Transylvania college at Lexoington and he his way there by carrying newspapers. When he was 20 he heard of the opportunities the city Birmingham offered, and he He started at the Ensley steel pushing wheel and using pick and at an later given place timekeeper's office $60 month. After working as timekeeper for than year, King took job in store Ensley and worked there until the store was The sale of the drug store was responsible for King's becoming connected with the Bank of Ensley. friend got him with the bank runner. His salary was a month. King 27. His climb in the bank was rapid. He had bitious and he had honesty and to After as for year, collection year later he made years later he made and in seven years after he entered the bank, he became cashier at the age of 34. year later King and Robert Chadwick offered chance controlling interest in the bank Ramsay and and took the chance. King went and put over his part of the deal. He executive dent of the Chadwick president. Wrote Life Insurance King was making "big money" before be became executive vicepresident. For more than five years had been making much $10,000 annually, writing life insurance. From the time King and Chadwick the bank proswere erected Ensley and Wylam. The capital from and the surplus from $200,to $300,000. King said it was in 1929, when several in county closed, that his began having trouble. He said that months before the institution closed, it withstood heavy, silent run. Jan. 10 we had to close," he said, "because lack of confidence in the institution, and an unknown shortage of about $300,000, in spite of the fact my about $450,000 in bank in an effort save Since has failed King has times in nection closing stitution. He was tried October, 1930, and the case ended in a misHe was tried in March, May and October, acquitted each time. He was to go on trial again MonKing is the father of four children.

2. June 1, 1932 The Birmingham Post Birmingham, AL

Article from The Birmingham Post, June 1, 1932

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Article Text

FEES HELD JUSTIFIED Testify Anderton Lawyers Not Overpaid Several attorneys testified before Judge Wednesday fees granted Henry Anderton, attorney the liquidating agent the Bank Ensley, are reasonWilliam B. McCullough and W. Perry testified that $2,710 granted foreclosing totaling $120,089 Questioned the court, Perry he "might have done for with times they Perry that he not consider $150 fee charged by Anderfor through circuit court the should have been not less than Judge Hail told him that Anderton fee and expenses. Lockhart stated that some the mortgages were third fourth considered at that the bank had an in Many been the flation in real estate values," he said.