130. First National Bank (Ensley, AL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
5962
Charter Number
5962
Start Date
April 23, 1906
Location
Ensley, Alabama (33.510, -86.886)

Metadata

Model
gpt-5-mini
Short Digest
5bcac7b7

Response Measures

None

Description

The First National Bank of Ensley transferred its business and deposits to the Bank of Ensley and did not open (article 1906-04-23). Subsequent reporting reveals large missing funds and an embezzlement arrest of the president (May 1906) and references to a receiver being appointed. There is no clear, contemporaneous description of a depositor run on this specific bank; the sequence is a transfer/closure followed by discovery of embezzlement and receivership, so I classify this as a suspension that results in permanent closure/receivership. Dates are drawn from the newspaper publication dates; receiver appointment is described but no precise date is given in the clipped text, so I leave that event date null.

Events (5)

1. September 12, 1901 Chartered
Source
historical_nic
2. April 23, 1906 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank transferred business and deposits to Bank of Ensley and did not open; later reporting reveals missing funds and alleged embezzlement by the bank president, indicating bank-specific malfeasance triggered closure.
Newspaper Excerpt
The First National bank of Ensley has transferred its business and good will to the Bank of Ensley and will not open its doors tomorrow morning
Source
newspapers
3. May 5, 1906 Voluntary Liquidation
Source
historical_nic
4. May 26, 1906 Other
Newspaper Excerpt
Gordon Dubose, president of the First National Bank, of Ensley, which was recently bought out by the Bank of Ensley, was today arrested ... charging him with the embezzlement of $48,000 funds of the First National Bank. The city of Ensley is in a panic over the failure.
Source
newspapers
5. * Receivership
Newspaper Excerpt
he decided to close the bank Immediately, and that he was appointed receiver. Char ter of the First National bank of Ensley is offered in evidence and identified. DuBose Confesses.
Source
newspapers

Newspaper Articles (4)

Article from The Birmingham Age-Herald, April 23, 1906

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Article Text

FIRST NATIONAL SELLS INTERESTS THE TWO BANKS OF ENSLEY HAVE COMBINED BUSINESS, WHICH WILL BE CONDUCTED BY THE BANK OF ENSLEY. Ensley, April ".-(Special.)-The First National bank of Ensley has transferred its business and good will to the Bank of Ensley and will not open its doors tomorrow morning, while the Bank of Ensley will be ready to accommodate all customers and depositors of the First National. All deposits have been transferred and the business will be continued as before. The officers and directors of the First National bank of Ensley issued the following statement to their patrons today: To the Patrons of the First National Bank of Ensley. The directors of the First National bank of Ensley have closed an arrangement whereby they have sold and transferred to the Bank of Ensley (Ramsay & McCormack) the good will and business of the First National bank of Ensley, the Bank of Ensley (Ramsay & McCormack) assuming all of the deposits of the First National bank. Peyton Eubank, former cashier of the First National bank, will be connected with the Ban kof Ensley and will be glad to serve all the patrons of the First National bank. We believe that the combination of these two interests will result in the building up of a strong banking house in Ensley, which will be better able to serve the best interests of the entire community than the two banks run separately. We ask for the Bank of Ensley the business and good will of the customers of the First National bank. Beginning today the business of the combined interests will be conducted at the Bank of Ensley (Ramsay & McCormack), corner Avenue E and Nineteenth street. Gordon DuBose, president; J. W. Minor, vice president; Mason H. Sherman, P. J. Rogers, J. H. Eubank, N. W. Scott and R. T. McLeod, directors.


Article from The Washington Times, May 27, 1906

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Article Text

BANK PRESIDENT HELD FOR EMBEZZLEMENT Alabama Financier Alleged to Have Lost $48,000 in Cotton Speculation. Town of Ensley Panicstricken. BIRMINGHAM, Ala., May 26.-Gordon Dubose, president of the First National Bank, of Ensley, which was recently bought out by the Bank of Ensley, was today arrested upon a warrant sworn out by a Government bank inspector, charging him with the embezzlement of $48,000 funds of the First National Bank. The money is alleged to have been lost in cotton speculation and was paid out in checks drawn on well-known local cotton exchanges. The city of Ensley is in a panic over the failure.


Article from The Birmingham Age-Herald, November 28, 1906

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Article Text

COTTON SEED CRUSHERS IN BANQUET AT HILLMAN The Alabama Cottonseed Crushers' astempt to bring the railroads to a recognition of the fact that co'tonseed is a sociation met at the Hotel Hillman last perishable product and wants it undernight to discuss business matters of instood that it must be moved faster to terest to the organization. By means of prevent its deterioration in value. An such a social gathering the members keep effort will be made to get a special prein touch with each other and the marference before all other traffic for this ket. There were some forty oil mill men product, thus making it of higher value around the banquet table-a representato the farmer as well as to the manutive body of the pushing business men facturer. of the state. Wit and humor fairly A number of those present told of the sparkle in the toasts and specches which hardships they had suffered during the were delivered. present season with seed rotting in the Among those who made the most notable cars, and coming into their warehouses addresses were Col. J. W. Black of Montgreatly deteriorated in value. The seed gomery, Col. O. C. Wiley of Troy, S. from the storm district, having been alJ. Cassels of Montgomery, E. B. Newmost ruined in the fields, was said to have some of Tuscaloosa, J. C. Wright of been worth nothing after the railroads Roanoke, R. W. Henderson of Talladega, had left it for weeks in the yards. E. Lamar of Selma, and Dr. A. St Clair Mr. Tennille also said that cleanliness in Tennille of Montgomery handling from the gins through the oil Mr. Tennille quite aptly branched off mills would insure a prime material for from the merrymaking in his talk to reghigh efficiency edible oil, which would be ister a complaint, not only for the cotequal to the imported olive oil for use ton crushers, but for the farmers and on the table and would bring instead for the business men of the state, directed of 3 cents as at present, as much as 8 toward an end which, he said, if accomcents at the least. Further it was brought plished, would mean much to the indusout that to reach the proper standard try of the state. He spoke of the movein meal for both man and animals it ment by the railroads of the cotton seed is necessary to keep the seed perfectly from the ginner to the manufacturer. good and pure, a thing impossible under The association is determined to atthe slow system of handling. Charter of the First National bank of and that there was $25,000 missing: that he Ensley is offered in evidence and identidecided to close the bank Immediately, and that he was appointed receiver. fied. DuBose Confesses. J. B. Barnett Testifies, The witness said there was a meeting In answer to Judge Roulhac, J. B. Barthe directors held in the First National nett said that he was a practicing atbank in Birmingham, at which it was torney living in Monroeville, and was tried to make arrangements to carry on president of the Monroe County bank; the Ensley National bank: that while the that H. C. Du Bose, a brother of Gordon meeting was being held Du Bose come in Du Bose, was cashier and one of the diand said: "I'm the most miserable hurectors of the Monroe County bank; that man being on earth. If I had been in the Monroe County bank never received my right mind it never would have any security from Gordon Dir Bose for curred;" that Du Bose admitted he lost its indorsement; that such an indorsement the money in stock and speculations and was never authorized, and that H. C. Du would make it all good. Bose had no authority to make any such The witness stated the nature of the indorsement; that the by-laws of the bank arrangements, which had been made by did not give authority to any officer to inwhich the Ensley National bank resumed dorse in the name of the bank; that the business. The witness also read a statebooks of the Monroe County bank showed ments of all the transactions of Du Bose transactions with the First National bank with the bank since October 7, 1905, in of Ensley, but not with Gordon Du Base. which was shown the dates of the disOn cross-examination, witness said he count of the notes amounting to $43,000, was not familiar with the methods of and also the expenditure of the money bookkeeping in banks, but understood received on these notes. The statement banking business: that he knew the handshowed that over $20,000 of the money was writing of the officers and identified 11. paid by check to Loveman & Co., brokC. Du Bose's handwriting in the indorseers, that Ware & Leland, brokers, had ment; that Du Bose was the active man been paid about $2500; that large checks at that time in the bank, and had authorhad been paid to Gibert & Clay. brokers, ity to make small loans, not exceeding 10 and Abercrombie & Co., brokers. per cent of the capital. The reading of the statement by the H. J. Cummins. witness occupied nearly an hour, and H. J. Cummins testified that he was aseach item of expenditure is the basis of sistant cashier of the First National bank a suit in the indictment. of Ensley, and that he identified the inWhen the witness closed his direct exdividual account of Gordon Du Bose. The amination the court took a recess until witness read the entries of deposits and 10 o'clock this morning. checks in the account in which the credits


Article from The Montgomery Advertiser, November 29, 1906

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Article Text

HE PLAYED COTTON DUBOSE GAVE CHECKS TO BUCKET shops. Evidence of Government In Case Against Former Ensley Bank President Is Closed-To Introduce Character Witnesses. Birmingham, Nov. 28.-(Special.)After showing that the defendant dealt with cotton and stock exchanges and gave his check on the First National Bank of Ensley, which checks were paid out of funds in the bank and which checks were charged to the account of the defendant, the government rested today in the case of Gordon DuBose, former president of the First National Bank of Ensley, who is charged with misapplying and embezzling funds of a national bank. An effort was made by the government to show that there was an effort made to bring about a conspiracy to use funds of a bank at Attalla in which a brother-in-law of the defendant was an officer, and the Lineville bank, in which a cousin of the defendant was an officer. and also a bank at Monroeville, in which a brother of the defendant was an officer, in speculations. The court ruled these efforts out as Irrelevant in the case on trial. There was nothing sensational in the testimony brought out save the evidence given by Bank Examiner Cooper, who stated that a brokerage firm doing business up to a short time back in Birmingham had a certain amount of stock in the First National bank of Ensley when the bank was placed in the hands of a receiver. Witnesses for character will be placed on the stand for the defendant. The affairs of the banks are now in the course of straightening out and indications are that no one will suffer from any misapplication of funds. The defendant has many friends in this section of the State.