Jasper Trust Company

Bank Information

Episode Type: Suspension → Reopening
Bank Type: trust company
Start Date: September 1, 1898*
Location: Jasper, Alabama (33.831, -87.278)

Metadata

Model: gpt-5-mini
Short Digest: cbd4415b

Response Measures

None

Description

Article describes a suspension in September 1898 due to business reverses and a resumption of operations in January 1900 after paying all obligations with interest. No explicit mention of a depositor run; classify as a suspension that later reopened.

Events (2)

1. September 1, 1898* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Met with some reverses in 1898 which forced the company to suspend business until difficulties could be overcome.
Newspaper Excerpt: in September of that year the institution was forced to suspend, business for a time until the difficulties could be overcome.
Source: newspapers

2. January 1, 1900* Reopening

Newspaper Excerpt: In January, 1900, the company resumed operations, after paying every dollar of its obligations with 8 per cent. interest thereon.
Source: newspapers

Newspaper Articles (1)

1. February 24, 1901 The Age-Herald Birmingham, AL

Article from The Age-Herald, February 24, 1901

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Article Text

The Jasper Trust Company. This prosperous banking institution was established at Jasper in 1893, with a capital stock of $50,000. Its business increased rapidly from the beginning until 1898, when it met with some reverses, and in September of that year the institution was forced to suspend, business for a time until the difficulties could be overcome. In January, 1900, the company resumed operations, after paying every dollar of its obligations with 8 per cent. interest thereon. It is a fact worthy of note that not an item of the banking company's obligations was compromised, but everything was met promptly at par, with accrued interest. There are but few banking institutions in the country that have thus passed the ordeal of depression and kept such perfect faith with its creditors as the Jasper Trust Company. The officers of the banking company are as follows: Col. W. P. Pinekard of Birmingham, president; Mr. E. W. Coleman, vice-president; Mr. A. S. Preston, treasurer. The company does a general banking business in all of its details. Its commercial business is very large. It is the depository, of professional men, merchants and of the county of Walker and the city of Jasper; also of several large corporations. This bank is now doing a very flourishing and rapidly increasing business, and under its conservative, liberal and progressive management it enjoys the conndence of the public and of a long list of patrons. The present success and strength of the Jasper Trust Company is another index to the growth and importance of Jasper and the surrounding country. It is one of the most prominent agencies for the development of Walker county.