176. Alabama National Bank (Mobile, AL)

View Charter #1817 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
1817
Charter Number
1817
Start Date
March 14, 1893
Location
Mobile, Alabama (30.694, -88.043)

Metadata

Model
gpt-5-mini
Short Digest
cf3adcda

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1893-04-17
Date receivership terminated
1897-09-30
OCC cause of failure
Fraud
Share of assets assessed as good
23.4%
Share of assets assessed as doubtful
60.5%
Share of assets assessed as worthless
16.1%

Description

Articles report the Alabama National Bank in Mobile was closed by the bank examiner on March 14, 1893, and a receiver (Henry M. Hall Jr.) was appointed by the Comptroller on April 20, 1893. There is no article text describing a depositor run; the action appears to be an examiner-ordered closure leading to receivership and permanent liquidation.

Events (4)
1. May 13, 1871 Chartered
Source
historical_nic
2. March 14, 1893 Suspension
Cause
Government Action
Cause Details
Closed by direction of Bank Examiner Campbell due to impaired capital stock (about $62,000).
Newspaper Excerpt
The Alabama National bank closed its doors this morning by direction of Bank Examiner Campbell. Depositors will be paid in full, but the capital stock of the bank is impaired to the amount of $62,000, or about 42 per cent.
Source
newspapers
3. April 17, 1893 Receivership
Source
historical_nic
4. April 20, 1893 Receivership
Newspaper Excerpt
Comptroller Hepburn has appointed Henry M. Hall, Jr., receiver of the Alabama National Bank, Mobile, Ala.
Source
newspapers

Newspaper Articles (12)
1. March 15, 1893 The Helena Independent Helena, MT
Article from The Helena Independent, March 15, 1893

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Article Text

A CRASH IN KANSAS. Trust and Banking Company Goes Under for Heavy Sums. ATCHINSON. Kan., March 14.-A sensation was created last night when A. Tufts, of Kansas City, appeared here and took possession of the Kansas Trust and Banking company as receiver. The company was organized in 1886 with a capital of $100,000. Ex-Senator John J. Ingalla is president of the concern, R. M. Manley vice president. and E. G. Armsby cashier. The principal part of the capital was furnished by Manley and family and Ingalls. The latter had $7,500 invested, Manley $20,000. These amounts are lost. The liabilities $800,000, and the assets, is is believed, if prudently managed, will pay in full. The bank has 30,000 acres of land and large tracts and lots in the principal towns and cities in the state. Residents of Atchinson have $125,000 invested in the concern secured by debenture bonds. It is believed the decision of Armsby to withdraw hastened the crash. Manley is practically bankrupt. The application for 8 receiver was made by L. F. Baird, of Kansas City in the United States court at 'I opeka. R. M. Manley, who was present, confessed judgment for $88,000, including $78,000 to the estate of George Manley for advances on which he became personally responsible. No other concern is involved in the crash. KANSAS CITY, March 14. - Ex-Senator John J. Ingalls declined to discuss the bank failure beyond saying that he got his money out before the crash came and lost nothing. MOBILE, Ala., March 14. The Alabama National bank closed its doors this morning by direction of Bank Examiner Campbell. Depositors will be paid in full, but the capital stock of the bank is impaired to the amount of $62,000, or about 42 per cent.

2. March 15, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, March 15, 1893

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Article Text

LOADED WITH LAND. A Kansas Trust Company, of Which Ingalls Is President, in a Receiver's Hands. Unsalable Kansas Soil, Bought at Big Prices, Brought on the Crash. c ATCHISON, Kan., March 14.-A sensation was created in Atchison last night when Freeling Tufts, of Kansas City, appeared and took possession of the Kansas Trust and Banking company of this city, as receiver. The company was organized in 1886 with a capital of $100,000. Ex-Senator Jo hn J. Ingalls is president of the concern, R. M. Manley is vice president and general manager and E. G. Armsby cashier. The principal part of the capital invested, was furnished by R.M.Manley and members of. his family and Mr. Ingalls. The latter had $7,500 in the company, while Armsby had $20,000. These amounts are lost. The liabilities of the company are estimated at about $800,000, and the assets are sufficient. it is said, to pay the entire indebtedness if the business of the concern is settled up in a wise and prudent manner. The concern owns about 30,000 acres of land throughout Kansas, beside large tracts of lands and lots in many of the principal cities of the state. Residents of Atchison had $125,000 invested in the concern, which is secured by debenture bonds, the value of which is a matter of conjecture. E. G. Armsby recently announced his intention of withdrawing from the concern and engaging in other business, and it is said this hastened the crash. Manley is practically bankrupt. The application for a receiver was filed in the United States court at Topeka yesterday morning on the part of the interested creditors, and R. M. Manley was present and confessed judgment to the amount of $88,000. Mr. Manley filed papers in confession of judgment for $78,000 to the estate of George Manley for advances on which he had become personally liable, every dollar of which went into the company. Judgment for $8,000 was also confessed in favor of the company. No other business house or financial concern of Atchison is involved in the crash. KANSAS CITY, March 14.--A reporter tried to interview ex-Senator John J. Ingalls in regard to the failure today, but he declined positively to discuss the affair. He said, however, that he got all his money out of the concern before the crash came, and lost nothing. MOBILE, Ala., March 14.-The Alabama National bank closed its doors this morning by direction of Bank Examiner Campbell. Depositors will be paid in full, but the capital stock of the bank is impaired to the amount of $62,000, or about 42 per cent.

3. April 21, 1893 The Times Richmond, VA
Article from The Times, April 21, 1893

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Article Text

Receiver of a Mobile Bank. WASHINGTON, D. C., April 20.-Comptroller Hepburn has appointed Henry M. Hall, Jr., receiver of the Alabama Na1 tional Bank, Mobile, Ala.

4. April 21, 1893 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, April 21, 1893

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Article Text

seekers away from the White House to-day. but the be falling off was too large to accounted for to this way. It is apparent that the beginning of the end has set in and that hereafter Mr. Cleveland will not have all his time for three hours during three days of the week and for one hour during each of the other two days taken up exclusively with the business of seeing applicantafor office. To-day those who called scarcely filled the seats in the waiting-room. The departure of many senators and representatives is the greatest reason why the placehunting fever has abated, but another reason for it is the growing beltef, in fact the understanding, that Mr. Cleveland proposes to take his time in making appointments. APPOINTMENTS. The President to-day appointed W. Luther Pratt Postmaster at Blockton, Ala.. vice Cornelius Cadle, resigned: Mulford M. Pepper, Postmaster at Rome, Ga., vice Z. B. Hargrove, resigned. Comptroller Hepburn has appointed Henry M. Hall. Jr., receiver of the Alabama National Bank, Mobile, Ala. While the exact date for the trial of the new cruiser New York has not been fixed it has been decided to try her about the middle of next month. The course selected is off the coast of Massachusetts in the vicinity of Cape Ann and is forty miles in length. THE SPEEDY DETROIT. A partial report on the trial of the new cruiser Detroit has been received at the Navy Department. During the trial the vessel was 80 lumbered with ballast that the board could not make a thorough examination. Assoon as this ballast has been discharged the board will meet at Baltimore, make their final examination. and complete the report. The partial report is in part as follows: "The prescribed runs over a mile course at seven. ten, twelve, and sixteen knots per hour. and at the maximum attainable was made in order to standardize the screws. The mean draft of the vessel was 14 feet 6 inches. During these manovver the handiness of movement, quick obedietice of the vessel to the helm. and the facility of turning were very apparent. At 12 knots she came completely around in 2 minutes and 10 seconds, with & helm angle of 30 degrees. The speed over the measured nautical mile. as determined by stop-watches was 18.04 knots per hour: as obtained by the chronograph, using the Weaver speed and revolution recorder, 18.05 knots. The performance of engine. bollers, and auxiliaries was very satisfactory. There was no tendency on the part of any of the journals to hear. and no water was used. with the exception of a slight stream run on one of the eccentries as is measure of precaution. Careful calculations of data obtained during the four hours' trial shows. 88 corrected for tidal differences, a mean speed of 18.71 knots per hour." THE AGRICULTURAL INQUIRY. The sub-committee of the Committee on Agriculture charged with an investigation of the depression in the cotton industry and the causes leading thereto have outlined their work and will later in the season make visits to New York and New Orleans and to some manufacturing centre in New England not yet agreed upon. At those places they will take testimony and they will conduct the rest of their investigation through the medium of circulare which have been sout out. A. B. Shepperson the expert, has been employed by the committee to assist in its work.

5. April 21, 1893 The Morning News Savannah, GA
Article from The Morning News, April 21, 1893

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Article Text

Mobile's Broken Bank. WASHINGTON, April 20. - Controller Hepburn has appointed Henry M. Hall, Jr., receiver of the Alabama National Bank at Mobile, Ala.

6. April 21, 1893 The State Chronicle Raleigh, NC
Article from The State Chronicle, April 21, 1893

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Article Text

Appointed Receiver. By Southern Associated Press. WASHINGTON. April 20.-Comptroller Hepburn has appointed Henry M. Hall Jr., Receiver of the Alabama National Bank of Mobile, Alabama.

7. April 25, 1893 The Progressive Farmer Raleigh, Winston-Salem, Winston, NC
Article from The Progressive Farmer, April 25, 1893

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Article Text

THE LATEST NEWS. Sparks from the Wires-Most Important Events Throughout the World for a Week. LONDON, April 20. -The Earl of Derby died at 2 o'clock this afternoon. WASHINGTON, April 20.-Comptroller Hepburn has appointed Henry M. Hall. Jr., Receiver of the Alabama National Bank of Mobile, Alabama. PITTSBURG, Pa., April - Miss Mollie Nealson, the young woman faster, last night completed her fast of thirty-one days, thereby winning $1,000. General Scofield has received a telegram from the commanding officer at Fort Ringgold, Texas, announcing the surrender of two more Garza revolutionists. LONDON, April 20.-The failure is announced of the Australian Joint Stock Bank with liabilities amounting to 13.000,000 pounds. The bank was incorporated in 1853. VIENNA, April 19.-Two cases of cholera and one death from that dis ease are reported from Onuth in Bukovina. Four cases have occurred in Nave Mamapove. A Conway, Arkansas, dispatch says: Flannegan Thornton. slayer of Charles Pate, constable of Howard township, Conway county, was lynched this morning at Morrillton, Ark. ATLANTA, April 20.-The grand jury to day found a third true bill against Lewis Redwine, the defaulting cashier of the Gate City National Bank. This bill charges him with embezzling $55,000. ATHENS, April 3.-Incessant earthquake shocks were felt at Zante throughout the night. The condition of the sick and aged is pitiable. The weather is pleasant, and much suffering is thus escaped. HAMBURG, April 18.-The striking dock laborerers in this city decided, at a meeting held last night, to end the strike and return to work. The vote on the question stood 173 in favor of terminating the strike to 159 against. GREENVILLE, Ohio, April 18.-The boiler of J. C. Kelch's saw mill, near Brooke, exploded yesterday. The mill and machinery were blown to pieces and a number of employees badly injured. Two, Charles Peck and Edward McClery, were instantly killed. PLYMOUTH, Mich., April 18-Fire started about midnight in George Vaudecar's barber shop and at 3 o'clock this morning the leading business block of town is in ruins. The los S aggregates between $50,000 and $60,000. The origin of the fire is believed to be incendiary. ST PETERSBURG, Ap: il 19.-The offi cial cholera statistics just issued show that from March 13th to March 27th there were 460 new cases and 120 deaths in the Government of Podolia, and from March 27th to April 13th 113 new cases and 35 deaths in the Government of Oofa. Eisewhere in the Empire 15 new cases and one death are reported.

8. July 21, 1893 The Times Richmond, VA
Article from The Times, July 21, 1893

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Article Text

Colonel E. H. Taylor, Jr., Assigns. FRANKFORT, KY., July 20.-A sensation was caused in business circles here to-day by the assignment of Colonel E. H. Taylor, Jr., the famous distiller, to the Lexington Trust Company. The liabilities are not given out, but it is said they are far exceeded by the assets. The tightness of the money market, which made it difficult to realize on goods, caused the assignment. MOBILE, ALA., July 20.-The Comptroller of the Currency has authorized Recelver H. M. Hall, Jr., of the Alabama National Bank, of Mobile, to pay a dividend of 50 per cent. on all claims against the bank. The receiver estimates that he will eventually have enough funds to liquidate $80,000. all claims, which amount to

9. July 21, 1893 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, July 21, 1893

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Article Text

Broken Bank Dividend. (By telegraph to the Dispatch.] MOBILE. ALA., July 20.-The - Comptroller of the Currency has authorized Receiver H. M. Hail, Jr., of the Alabama National Bank, of Mo. bile, to pay a dividend of 50 per cent. on all claims against the bank. The receiver estimates that he will eventually have enough funds to liquidate all claims, which amount to $80,000.

10. July 21, 1893 The Morning News Savannah, GA
Article from The Morning News, July 21, 1893

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Article Text

MOBILE'S BROKEN BANK. The Receiver Orders a Payment of 50 Per Cent. on all Claims. Mobile, Ala., July 20.-The - Comtroller of the currency hás authorized Receiver H. M. Hall, Jr., of the Alabama National bank of Mobile to pay a dividend of fifty per cent. on all claims against the bank. The receiver estimates that he will eventually have enough funds to liquidate all claims, which amount to $80,000.

11. July 21, 1893 The Sun New York, NY
Article from The Sun, July 21, 1893

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Article Text

Dividend of 50 Per Cent. on Bank Claims. MOBILE. July 20.-The Comptroller of the Currency has authorized Receiver H. M. Hall. Jr., of the Alabama National Bank of Mobile. to Day a dividend of 50 per cent. on all claims against the bank. The receiver estimates that he will eventually have enough funds to liquidate all claims, which amount to $80,000.

12. July 21, 1893 The Roanoke Times Roanoke, VA
Article from The Roanoke Times, July 21, 1893

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Article Text

Will Pay up in Full. MOBILE, Ala., July 20.-The comptroller of the currency has authorized Receiver H. M. Hall, Jr., of the Alabama National Bank of Mobile to pay a dividend of 50 per cent. on all claims against the bank. The receiver estimates that he will eventually have enough funds to liquidate the claims, which amount to $80,000.