174. Bank of Madison (Madison, AL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 8, 1923
Location
Madison, Alabama (34.711, -86.762)

Metadata

Model
gpt-5-mini
Short Digest
b873e0c7

Response Measures

None

Description

Two newspaper items (Nov 8 and Dec 22, 1923) report that the Bank of Madison failed and a liquidating agent was appointed and completed a report. There is no mention of a depositor run; the bank was in liquidation/closed. I classify this as a suspension leading to permanent closure (liquidation).

Events (3)

1. November 8, 1923 Other
Newspaper Excerpt
MADISON.-J. C. Sloan, liquidating agent, completes report on condition of Bank of Madison, showing bank's liabilities $151,600, with assets to cover. Depositors will be paid in full, it is stated.
Source
newspapers
2. December 1, 1923* Suspension
Cause
Voluntary Liquidation
Cause Details
Article states the bank failed recently and a liquidating agent was appointed; no run or external shock mentioned.
Newspaper Excerpt
MADISON.-Joe Caldwell, of Huntsville, is named liquidating agent for Bank of Madison, which failed recently.
Source
newspapers
3. December 22, 1923 Receivership
Newspaper Excerpt
MADISON.-Joe Caldwell, of Huntsville, is named liquidating agent for Bank of Madison, which failed recently.
Source
newspapers

Newspaper Articles (2)

Article from Atlanta Tri-Weekly Journal, November 8, 1923

Click image to open full size in new tab

Article Text

ALABAMA SEALE.-For first time in many years Russell county will have hanging November 23, when two Myhand negroes will die for murder of Henry Ingram. aged negro, and his wife. UNION SPRINGS.-This place is having meat war. Several farmers own over 150 head of beef cattle and were offered only two to three cents per pound by butchers. They open market and are selling own beeves ac reduced prices. SCOTTSBORO.-Commercial club joins many other civic organizations n adopting strong resolutions favoring leasing of Muscle Shoals project to Henry Ford. These resolutions will be taken by courier to president of United States. MADISON.-J. C. Sloan, liquidating agent, completes report on condition of Bank of Madison, showing bank's liabilities $151,600, with as. sets to cover. Depositors will be paid in full, it is stated. FLORENCE.-Mrs. Israel Trow. bridge, 67, prominently nnected, is run over and instantly killed by auto driven by L. J. Arnold, 22. MONTGOMERY.-Mrs. M. D. Rountree is seriously injured when struck by truck driven by Sam Daniel, negro, who is in jail. OPELIKA.-Alabama conference of Methodist church will be held in Opelika, at First Methodist church, commencing November 12 and continuing several days. DOTHAN. - Within two weeks work will commence on municipal hydro-electric plant on Chattahoo.


Article from Atlanta Tri-Weekly Journal, December 22, 1923

Click image to open full size in new tab

Article Text

victed of killing Dr. Moon and is given five years in penitentiary. No tice of appeal is filed. DECATUR.-Westminster Presby- terian church plans $7,000 Sunday school annex. NOTASULGA. Over 200 fine fowls are exhibited at show here, and poultry industry is stimulated. MONTGOMERY.-Official report of F. W. Gist, state agricultural stat- istician, shows 1923 crops of cotton in Alabama averaged only 81 pounds per acre. DECATUR.-Country home of Mr. and Mrs. T. B. Woodard is pur- chased by Tennessee Valley Coun- try club for club house. This is one of oldest houses in north Alabama. House was erected on lands bought from Indians. FORT PAYNE.-G. L. Brock is preparing to open new moving pic- ture theater here with $10,000 worth of equipment. ANNISTON. Plans are under way for building hospital here as memorial to number of citizens who bequeathed sums of money for pur- pose. GURLEY.-Body of John R. Potts, 80, well known Confederate veteran, is found by roadside, where he fell dead while walking to neighbor's home. MADISON.-Joe Caldwell, of Huntsville, is named liquidating agent for Bank of Madison, which failed recently. HUNTSVILLE. Mrs. Minnie Stofle, 26, dies at home here. Hus- band and two children survive her. UNION SPRINGS.-Central of Georgia will enlarge passenger sta- tion and build train shed. FORT DEPOSIT.-Motor hearse, bearing remains of Charles W. Carr, runs into ditch and turns turtle. TALLADEGA.-Waterworks plant is being constructed with 4,000,000 gallon reservoir on mountain top. TUSCUMBIA. - Residence near here where Helen Keller, world fa- mous blind, deaf and dumb was born will be preserved as shrine by people of community. MONTGOMERY. After twelve days and nights spent in top of high tree "Uncle Jim," famous city park monkey, comes down from his perch and returns to cage to escape win- try blasts. ATHENS.- Several carloads of sweet potatoes are shipped from here to Louisville, Ky., and other north- ern markets, and are bringing good prices. TALLADEGA.-In effort to locate titles to certain property, Judge M. N. Manning, probate judge, unearths early records of town of Talladega, dating back to April 4, 1834. LIVINGSTON.-County board of revenue refuses to employ farm agent, at request of large number of farmers. REFORM.-Methodists of Reform are building house of worship to cost over $12,000. MARION.-General John Ken- nedy, commanding Second brigade Alabama division Confederate vet- erans, names number of Parry coun- ty citizens on his staff, among them being James O. Bailey as quarter- master general. HAMILTON.-Citizens of Anglin school district commence building $8,500 consolidated schoolhouse. LANCASTER.-Leslie West, taxi- cab driver, only eye-witness in fa- mous killing case of Harwell G. Davis, is dead. Sergeant Robert J. Lancaster and other members of Tuscaloosa national guards, station- ed there at time, were charged with Davis' death. Death of West may end prosecution. MONTGOMERY.-Rumors of extra session of legislature are heard around capitol. Governor W. W. Brandon is non-committal. MONTGOMERY. Albert Rivas, serving term at Kilby prison for bur- glary, will be deported to Cuba, whence he came when term expires.