I. C. Plant's Son (Macon, GA)

Episode Information

Episode UID
1999750991253
Episode Type
Suspension → Closure
Bank Type
private
Bank ID
199975099 hash
Start Date
May 16, 1904
Location
Macon, Georgia (32.841, -83.632)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
99eb0d346df0d1d5

Response Measures

None

Description

Contemporaneous reports state the private bank is out of business with a receiver handling affairs.

Events (1)
1. May 16, 1904 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended due to heavy losses/insolvency that also caused First National Bank to close; private bank described as out of business and under receiver control.
Newspaper Excerpt
The failure of the bank ... is due to a heavy loss sustained by the suspension of I. C. Plant's Son, a private bank
Source
newspapers

Newspaper Articles (5)
1. May 17, 1904 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, May 17, 1904

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Article Text

Receiver Is Appointed. Washington, May 16. - The comptroller of the currency has been advised by National Bank Examiner W. E. Albertsen that the First National Bank of Macon, Ga., closed its doors this morning by order of the board of directors. The failure of the bank, the examiner states, is due to a heavy loss sustained by the suspension of I. C. Plant's Son, a private bank of which the president of the First National bank is also presi ted Examiner Albertsen has been a receiver. The resources and liabilities of the bank as shown by the last report of condition, March 28, 1901, were as follows: Resources-Loans and discounts, $587.925; over-draft, $13,640; United States bonds, $240,000; stock, securities, etc., and premiums, $51,304; cash and cash items, $164,635. Liabilities-Capital, $200,000; surplus and undivided profits, $65,574; circulation, $200,000; due to banks and bankers, $56,186; deposits, $525,470; re-discounts, $122,075.

2. May 17, 1904 Evening Star Washington, DC
Article from Evening Star, May 17, 1904

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Article Text

The Macon, Ga., Bank Failure. The controller of the currency has been advised by National Bank Examiner W. F. Albertsen that the First National Bank, Macon, Ga., closed its doors yesterday by order of the board of directors. The failure of the bank, the examiner states, is due to a heavy loss sustained by the suspension of I. C. Plant's Son, a private bank, of which the president of the First National also was president. Examiner Albertsen has been appointed receiver. The resources and liabilites of the bank as shown by the last report of condition, March 28, 1904, were as follows: Resources, $1,169,500; liabilities, $1,169,503.

3. May 17, 1904 The Savannah Morning News Savannah, GA
Article from The Savannah Morning News, May 17, 1904

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Article Text

# THE BANK EXAMINER # REPORTS ITS FAILURE. Washington, May 16.- The Controller of the Currency has been advised by National Bank Examiner W. F. Albert- sen that the First National Bank, Ma- con, Ga., closed its doors this morn- ing by order of the board of directors. The failure of the bank, the examiner states, is due to a heavy loss sustain- ed by the suspension of I. C. Plant's Son, a private bank, of which the president of the First National Bank was also president. Examiner Albert- sen has been appointed receiver. The resources and liabilities of the bank as shown by the last report of condition, March 28, 1904, were as fol- lows: Resources: Loans and discounts, $587,925; overdrafts, $1,364; United States bonds, $240,000; stocks, securi- ties, etc., and premium, $51,776; real es- tate, $38,500; due from banks and bankers, $85,304; cash and cash items, $164,635. Liabilities: Capital, $200,000; surplus and undivided profits, $65,574; circula- tion, $200,000; due to banks and bank- ers, $56,186; deposits, $525,670. Re-dis- counts, $122,075.

4. May 18, 1904 The Savannah Morning News Savannah, GA
Article from The Savannah Morning News, May 18, 1904

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Article Text

EXPECT ONE BANK TO PAY DEPOSITORS BUT LITTLE HOPE IS FELT BY THOSE WITH ACCOUNTS WITH PLANT'S SON'S BANK. Figures Have Not Yet Been Given Out by the Receivers of the Macon Institutions That Closed Their Doors-Speculation as to the Result Is Rife-City Employes Not Paid Off Because Funds Were in Plant's Son's Bank. Macon, May 17.-The Plant banks, the National and the I. C. Plant's Son, are both still out of business, and upon the doors of each of these financial institutions are those same slips of paper which were read by so many hundreds of people yesterday. So far as the outside world is concerned, there is no change in the situation. At least up to the present no one has been found who is willing to give out any information of a convincing or authoritative character. None, save the members of the board of directors, the officials of the bank and the United States bank examiner, is allowed access to the National Bank, while it is only the owners and confidential employes and the receiver who have permission to enter the private bank. It is known that the bank examiner is busy in the National Bank going over the books and working hard to arrive at some conclusion at a date as early as possible. At the same time the receiver is getting his ends together in the private bank, which is immediately in the rear of the one in which the national examiner is working. Receivers Will Not Talk. So far neither of the gentlemen digging into the mysteries of the doublebarreled failure has allowed any one to discuss the situation with him in any way whatever. If they have ac-

5. May 19, 1904 The Bamberg Herald Bamberg, SC
Article from The Bamberg Herald, May 19, 1904

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Article Text

RECEIVER FOR MACON BANK. Comptroller of Currency in Charge of First National at Macon, Ga.| A Washington dispatch says: The comptroller of the currency has been advised by National Bank Examiner W. F. Albertson that the First National Bank, Macon, Ga., closed its doors by order of the board of directors. The failure of the bank, the examiner states, is due to heavy loss sustained by the suspension of I. C. Plant's Son ,a private bank, of which the president of the First National also was president. Examiner Albertsen has been appointed receiver.