135. John Mcnab Bank (Eufaula, AL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 31, 1891
Location
Eufaula, Alabama (31.891, -85.145)

Metadata

Model
gpt-5-mini
Short Digest
6ac26aa2

Response Measures

None

Description

Contemporary reports (Mar 31, 1891) state the bank made an assignment for the benefit of its creditors to J. W. Tullis (a voluntary assignment). An attachment was levied by a New York creditor. On Apr 9, 1891 a receiver (Henry D. Clayton) was appointed. OCR variants in sources show McNab / McNabb; corrected to 'McNab' as in multiple reports. No run is reported.

Events (2)
1. March 31, 1891 Suspension
Cause
Voluntary Liquidation
Cause Details
Bank made an assignment for the benefit of creditors to J. W. Tullis on Mar 31, 1891; assets then subject to an attachment by a New York creditor.
Newspaper Excerpt
The John McNab bank ... made an assignment for the benefit of its creditors to-day to J. W. Tullis. An attachment was levied upon the assets of the bank by creditors in New York city.
Source
newspapers
2. April 9, 1891 Receivership
Newspaper Excerpt
Judge Bruce ... appointed Henry D. Clayton receiver of the John McNab Bank of Eufaula. The bank's affairs had been previously placed in the hands of J. W. Tullis as assignee.
Source
newspapers

Newspaper Articles (7)
1. March 31, 1891 San Antonio Daily Light San Antonio, TX
Article from San Antonio Daily Light, March 31, 1891

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Article Text

LITTLE TELEGRAMS. H. Rider Haggard has arrived in New York from Mexico. He says he enjoyed the trip in spite of the hard travel and the fleas, mosquitos and bill of 'fare. He believes the Mexicans in the days of Cortez were more civilized than now, and not much of the old spirit left in them. C. A. Powers, of Indiana, is to call a convention in Cincinatti, May 19th. to form a new political party with the Farmer's Alliance as the basis. Chicago had 200 deaths from la grippe and other diseases yesterday Lake navigation is open at Toronto Canada. At a white and colored school entertainment at Liberty, Miss., yesterday, a load of shot from a gun was fired into the crowd, wounding 14 persons. The Pope is sick in bed, at Rome, with gastric trouble. Earl Granville Dowly is dying in London. In Manipur, province of Assam, India, 400 Ghooka soldiers were massacred by native tribes. British officers commanded the soldiers and they fought two days. Two hundred Bengal infantry and 80 Ghookas, marching to their aid, were killed. The John McNab bank of Eufala, Ala., assigned today. Rev. Father Faive died of paralysis, in New Orleans, today. Diamonds and jewelry worth $20,000 were stolen from Adolph Walter's store, Jersey City, la st night.

2. April 1, 1891 The Morning News Savannah, GA
Article from The Morning News, April 1, 1891

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Article Text

A BANK AT EUFAULA FAILS. Its Assets Levied on by a Creditor in New York. MONTGOMERY, ALA., March 31.-The John McNab bank, one of the oldest and most substantial institutions of Eufaula. Ala., made an assignment for the benefit of its creditors to-day to J. W. Tullis. An attachment was levied upon the assets of the bank by creditors in New York city. It was a private institution. The failure caused no run on the other banks in Eufaula. Its liabilities and assets are not known and cannot be for some days.

3. April 1, 1891 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, April 1, 1891

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Article Text

The John McNab Bank Assigns. MONTGOMERY, ALA., March 31.-The John McNab Bank, one of the oldest and most substantial institutions of Eufaula, Ala, made an assignment for the benefit of creditors to-day to J. W. Tullis. An attachment was levied upon the assets of the bank by creditors in New York city. It was a private institution. The failure caused no run on the other banks in Eufaula. The liabilities and assets are not known and cannot be for some days.

4. April 1, 1891 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, April 1, 1891

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Article Text

ASSIGNED. One of the Oldest Private Banks in Alabama Assigns-Capital Stock $100,000. MONTGOMERY, ALA., March 31.-The John McNab bank of Eufaula, a banking institution incorporated with a capital of $100,000 with reported surplus of over $30,000, assigned to-day to John W. Tullis of Eufaula. Assets and liabilities unknown. Yet, under old man McNab's (deceased) management it was considered one of the strongest and most conservative private banking institutions in Alabama, as well as one of the oldest.

5. April 10, 1891 The Morning News Savannah, GA
Article from The Morning News, April 10, 1891

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Article Text

Eufaula's Broken Bank. MONTGOMERY, ALA.. April 9.-Judge Bruce of the United States district court today, on application of the Georgia Railroad and Banking Company, appointed Henry D. Clayton receiver of the John McNab Bank of Eutaula. The bank's affairs had been previously placed in the hands of J. W. Tullis as assignee.

6. April 10, 1891 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, April 10, 1891

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Article Text

McNab's Bank Receivered. MONTGOMERY, ALA., April 9.-Judge Bruce, of the United States District Court. to-day, on application of the Georgia Railroad and Banking Company, appointed Henry D. Clayton receiver of the John McNab Bank of Eufaula. The bank's affairs had been previously placed in the hands of J. W. Tuller as assignee.

7. January 9, 1892 Perrysburg Journal Perrysburg, OH
Article from Perrysburg Journal, January 9, 1892

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Article Text

BUSINESS FAILURES. Jan. 13-E. H. Amidon, dry goods dealer, New York: $697,766. Jan. 16-Stoneboro savings bank and Sandy Lake savings bank, both of Pennsylvania. Jan. 19-American national bank, Kansas City. Mo.: $2,000,000. Jan. 20- State bank of Cawker City, Bank of Downs and Glen Elder bank of Glen Eider, all of Kansas, suspended. Jan. 21-Kawaka City (Kan.) state bank. Jan. 26-Savings bank of Wichita, Kan.; $81,000. Feb. 5-First Arkansas Valley bank, Wichits, Kan.; $120,000. Feb. 12-First national and North Middlesex savings bank, Ayer, Mass. Feb. 19-John D. Knox & Co., private bankers, Topeka, Kan.: $340,000 Union Investment Company, Kansas City; $1,000,000. Feb. 25-Windsor national bank, Windsor, Vt. Mar. 19-J. & A. Simpkinson, boot and shoe manufacturers, Cincinnati; $400.000. United States savings bank, Topeka, Kan., $330,000. Mar. 20-Theodore Schwartz & Co., private bankers, Louisville, Ky.; $500,000. Mar. 24-Washingt n national bank, New York Schall & Downer, bankers. York, Pa. Apr. 2-The John McNabb bank, Eufaula, Ala. Apr. 4-Columbia Iron & Steel Company and Pennsylvania Construction Company, Uniontown, Pa; $1,000,000. May 7-Bank of Allen county at Scottsville, Ky. May 9-Spring Garden national bank. Philadelphia. May 15-People's bank at Knoxville, Tenn. May 22-Hills Shot Company at Memphis, Tenn., $600,000. May 26-Potter, White & Bailey, shoe manufacturers at Boston: $1,000,000. May 27-John Ryan's Sons, wholesale dry g oods, Atlanta, Ga.: $1,000,000. June 4-The City national bank at Marshall, Mich. June 5 - Connell, Hall, McLaster & Co., wholesale dry goods, Nashville, Tenn.; $500,000 The Huntington (Ind.) bank. June 13-Central national bank, Broken Bow, Neb. June 10-Sevill Scofield, woolen manufacturer at Manayunk, Pa.: $800,000. June23-The Florence national bank, Florence, Ala., and Sax Brothers' savings bank, Nashville, Tenn. July 7-Moses Bros., bankers, Montgomery, Ala; $500,000. July 8-Bank of Commerce, Sheffield, Ala. July 14-E. C. Stark, banker at Oneida, N. Y.; $220,000. July 16-Spooner R. Howell & Co., lumber dealers, Chicago, and other cities; $2,000,000. July 17-First national bank, Wyandotte, Kan. $1,000,000. July 18-First national bank, Palatka, Fla.; $200,000 Bonneil & Co., printer's ink manufacturers, New York, $100,000. July 21-Central bank of Kansas at Kansas City, Kan.: $100,000 Merchants' national bank, Fort Worth, Tex.: $500,000. July 23-Citizens' bank of Jefferson, Tex.; $100,000. Aug. 4-Abraham Backer, dry goods commission, New York; $4,000,000 Samuel Hano, real estate dealer, Allston, Mass.; $500,000. Aug. 8-Masonic savings bank, Louisville, Ky.; $1,000,000. Aug. 19-Johnston, Tallman & Co., flreworks importers, New York city: $600,000. Sep. 23-S. V. White & Co., New York, commission merchants. $2,000,000. Sep. 30-F. B. Wallace & Co., New York, brokers; $390.000. Oct. 1-First national bank at Clearfield Pa... Chrisman (111.) bank: $100,000. Oct. 3-Turner & Bro., Boston bankers; $300,000. Oct. 5-Ulster county savings' institution, Kingston, N. Y., robbed by officials of $463,000. Oct. 16-State bank at Gritna, Neb. Oct. 17-The Columbia bank and the Bank of Columbia, at Nashville, Tenn. Oct. 23-Bank of Lewisburg, Tenn. $80,000. Nov. 2-Maverick national bank of Boston, suspended; liabilities, $10,000,000. Nov. 7-The Cochrane-Fulton Company, distillers, at Louisvil.e, Ky.; liabilities, $500,000 Bank of Fiorence, Aia.; $100,000. Nov. 7-The Corry (Pa.) national bank closed its doors: $700,000. Nov. 13-California national bank at Santiago, Cal. Nov. 14-Bonner & Bonner, bankers at Tyler, Tex.; $500,000. Nov. 25-Farmers' and Miners' Deposit bank, Irwin, Pa First national bank, Wilmington, N. C. Nov. 28-Field, Lindley, Wicchers & Co., bankers and brokers of New York, $1,000,000. Dec. 22-Private banks at Waynesboro, Warrentown and New Market, Va., closed their doors Thomas H. Allen & Co., cotton dealera, Memphis, Tenn.; $544,932. Dec. 23-Bank of Greenville, Greenville, Miss : $1,000,000.