20792. Exchange Bank & Trust Company (Memphis, TN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
September 24, 1913
Location
Memphis, Tennessee (35.150, -90.049)

Metadata

Model
gpt-5-mini
Short Digest
fe36e2ad

Response Measures

None

Description

Articles (Sept 24-25, 1913) report arrests of president and cashier for misappropriation and that application was made in chancery court for appointment of a receiver. There is no mention of depositor runs or temporary suspension/reopening — this appears to be a bank-specific scandal leading to receivership/closure.

Events (3)

1. September 24, 1913 Other
Newspaper Excerpt
D. O. Wheeler, president, and J. B. Sloan, Jr., cashier of the Exchange Bank and Trust company ... were arrested today charged with misappropriating $4977 of the bank's funds. Wheeler and Sloan ... were released under $1000 bonds.
Source
newspapers
2. September 24, 1913 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Application for receiver following alleged misappropriation of $4,977 by bank president and cashier; criminal charges filed against officers.
Newspaper Excerpt
application was made in chancery court for the appointment of a receiver for the institution.
Source
newspapers
3. September 25, 1913 Receivership
Newspaper Excerpt
application was made for a receiver for the institution. The application for a receiver will be heard Monday.
Source
newspapers

Newspaper Articles (3)

Article from The Birmingham Age-Herald, September 25, 1913

Click image to open full size in new tab

Article Text

MEMPHIS BANKERS ARE UNDER ARREST Memphis, September 24.-D. O. Wheeler, president. and J. B. Sloan, Jr., cashier of the Exchange Bank and Trust company, a small lending concern of this city, were arrested today charged with misappropriating $4977 of the bank's funds. and application was made in chancery court for the appointment of a receiver for the institution. Wheeler and Sloan, who surrendered, were released under $1000 bonds. They assert that the alleged liability is a civil one and that the criminal proceedings were the result of a controversy with certain of the directors of the bank. The application for a receiver will be heard Monday. The Exchange Bank and Trust company was capitalized at $25,000 and the assets are stated to be approximately $28,000. The stockholders were the only depositors and the amount on deposit, it is declared, is not more than $4000.


Article from Daily Kennebec Journal, September 26, 1913

Click image to open full size in new tab

Article Text

Charged With Misappropriating Funds. Memphis, Tenn., Sept. 25.-D. O. Wheeler, president, and J. B. Sloan, Jr., cashier of the Exchange Bank and Trust Co. of this city, was arrested, yesterday, charged with misappropriating $4977 of the banks funds and application was made for a receiver for the institution. Wheeler and Sloan, who surrendered, were released under $1000 bonds. They assert the alleged liability is a civil one and that the erminal proceedings are unwarranted. The company is capitalized at $25,000 and as assets are stated to be approximately $28,000.


Article from Belington Progressive, October 2, 1913

Click image to open full size in new tab

Article Text

21 PRICE BELINGTON, W. VA., THURSDAY, OCTOBER 2, 1913. MEXICAN NEWS STORIES WOMAN'S FINGERS CUT OFF CRISIS NEAR IN MINIATURE BY AEROPLANE'S PROPELLERS AS IT FELL AT ELKINS FAIR Flee From Piedras Minor Mention of a Week's Which Is Threatened Important Events. farmers more than $4,000,000 this seaSeven Persons Injured, One Fatally When son. Wind Wreck Machine. The Department of Commerce isIN GRIP OF TERROR A HISTORY OF SEVEN DAYS sued a report showing that exports amounting to more than $321,000,000 ELKINS, W. Va., Oct. 1-At least have been shipped from the United by U. S. May Follow First seven persons were injured, one fataliy, States to Latin-America, during the Paragraphs Which Briefly Chronicle and one seriously, at five o'clock this at to Molest Alien's Proplast fiscal year. the Events of Interest as Bulleternoon, when an aeroplan driven by Ir. Mexican Five States The biggest agricultural pilgrimage tined by Wire, Wireless and ving Conley, bore down upon a big crowd Their Secession. ever made to Washington will take which lined the fence at the Elkins Fair Cable-Foreign News. place on December 5, when 1,200 grounds. The machine came down from Ohio boys, the champion corn growNegras, Mex.-Terror has ers of the State, accompanied by 600 a distance of 50 feet, landing equarely on city, the provisional capparents and State officials will arrive the fence with terrific force. Mexican Constitutionalists, Washington for three days' sight-seeing. victorious northward march The Injured: derals and the arrival of Water has been let into the upper WILLIAM WILLARD (colored) Elkins, The United States has expended of refugees from the surchamber of the Gatun lock for the skull fractured, cut and brused, taken more than $3,000,000 on fortifications devastated country. first time. to the City Hospital in dying conditon of the Panama Canal. the instructions of United In the Sulzer impeachment proceedMRS. J. A. BOYLEN, of Cumberland, The parcel post is more than payBlocker, American resings Chief Judge Cullen ruled tentaing its way. Md., fingers of right hend out off when Piedras Negras, joined the tively that the charge of attempting Secretary McAdoo has deposited in struck by the propeller, hundreds of persons to coerce legislators was irrelevant. national banks $34,159,000 of the GovMABEL CARTER, 14 year old girl, (colinternational bridge into Losses sustained during the flood ernments $50,000,000 crop-moving many carrying some of ored) Beverly, W. Va., cut and brusedof last Spring was the cause given fund. The South has received nearly on their backs. ConMRS. FRED DODSON, Elkins, body by the Royer Wheel Company, of Cinall its quota. Deposits are now being warning to foreigners badlygbrused. cinnati, for asking for a receivership. made in the Central West. iedras Negras immediately The 400th anniversary of the disHARRY BOHAM, Elkins, Iface cut by As a reward for services he has ticipation of rioting should covery of the Pacific by Balboa was wires. rendered the government as engineer titutionalists be forced to celebrated at Panama. FORREST ISNER, Elkins, Injured by of the Panama Canal, Colonel George provisional capital. Verner S. Belyea, of Worcester, W. Goethals will be advanced to the flying timber. army is being driven Mass., died from injuries received in rank of Major General. IRVING CONLEY, the aviator, Buffato, by the government troops a. football game, the first fatality of N. Y., back sprained and body brused, Maas, the retreating the season. when thrown from his seat. are setting fire to villages. A monument was dedicated at Personal the front indicate that Others whose identity cannot be learn. Washington's Crossing, N. J., to mark are closing in on the ed were hurried to their homes for treatthe spot where Washington crossed Sabinas from which the Timothy L. Woodruff suffered a the Delaware in 1776. ment. Owing to the heavy winds the nervous breakdown while he was noonalists are expected to fall Mrs. Susan Rose, of Fulton, Me., flight was postponed until late in the tifying the Fusion candidates in on Matamoras, across the afternoon. The aviator passed in front was found guilty of killing her husCooper Union, New York, of their nomBrownsville, Texas, or on band, J. H. Ross, and was sentenced of the Grand Stand which protected the egras. ination by the Progressive party. to ten years' imprisonment. machine from the wind. As soon as he Thomas Mott Osborne, head of the States troops are hurrying Dr. W. J. Beattle, of Littleton, N. New York State Prison Reform AsPass from San Antonia, to flew above and beyond the grand stand H., was killed instantly when struck sociation, announced that he will the garrison there, and it is the draft which caught the machine, by an automobile at a crossing in enter Auburn Prison and stay there that with the first attempt a love it aimost directly down with terBretton Woods, N. H. the property of foreigners as a prisoner for an indefinite period rific for The top ra: ing of the fence Itimatum will be issued. to study reforms. Samuel Gompers and executive and a wire were suapped. but the heavy ericans who persist in remembers of the American Federation Rufus and Norman Gaynor will probottom railing supporting the machine Piedras Negras will forvide for their mother, who got an of Labor expressed their approval to preventing heavy loss of life The rotection of the American income of only $3,000 under the late President Wilson of the appointment according to the notice aviator was thrown headlong into the Mayors will. The widow is now not of W. B. Wilson as Secretary of by Consul Blocker. At a Labor. crowd, but his injuries are not serious. likely to contest for her dower rights between Consul Blocker Louis, Windmuller, the aged banker Irwin DeRaney, an engineer, was Mrs Boyien's tingers were cut squarely onstitutional authorities the off, being la er picked up from the wresnof New York, was declared incompestruck and killed by a train in the age. T: Imachice wasa notal wreck representative is believed tent by a jury in Long Island City and Lackawanna yards at Hoboken, N. J., E ght thousand people witnessed the to secure a promise conservators were appointed to care after making his last run, preparaacident and the ensplay of calminess WAS of would ruction property for his estate. tory to retiring on a pension for life. remarkable There were LO signe of The Secretary of War Garrison upheld usual panic The rejured were rem wed the action of the superintendent of from the field and Liste races processed, Texas.-At a conference General the Military Academy at West Point Hermosillo, five northern in depriving several cadets of priviMexico decided to secede Governor Hooper of Tennessec leges for hazing lower class men. federal government to form signed the bill substituting the galD. O. Wheeler, president, and J. B. States of Mexico, acSporting lows for the electric chair in that Sloan, cashier of the Exchange Bank Americans arriving from State and Trust Co., of Memphis, have been The states whose repreMaurice Prevost won the InternaThe International Paper Company arrested, charged with misapplying agreed to the secession tional Aviation Cup race, flying 1241/4 will construct a pulp and power plant $4,477 of the bank's funds. Sonora, Durango, Coahuila, miles in about fifteen seconds less at Grand Falls, Me., at a cost of $2,Chihuahua. In order to prevent an automobile than an hour, his average speed be500,000. from going over a precipice, at Great ing more than two miles a minute. Walter Gardiner, 19 years old, was New Protest to U. S. Barrington, Mass., a chauffeur turned Connie Mack is against the ruling accidentally shot and killed by his it into a pile of rocks, causing injury Japan.-Another protest in 14-year-old brother in their home at of the National Commission through to the 14 occupants. the Californian anti-alien Bath, N. Y. which participants in the coming has been dispatched to Vennon Belyea, of Greenfield, Mass., world's series are forbidden to write "Big Tim" Sullivan met his death States. The text has not was fataly injured in a football game because of an accident on the mornfor newspapers. On general prinbut it is understood between Norwich University and ciples, Connie says, he does not being of August 31, it was declared in accepted, on which point Holy Cross teams. This is the first lieve players should write. New York by a Coroner's jury. authorities are very victim of the season. Betting in the New York financial Buchtel College, Akron, Ohio, has new a will it necessitate James A. Allen, the Independence district indicates that the Giants are been turned over to the city authorithe two countries. the favorites over the Athletes in the League candidate for Mayor of New ties and will be known as the Uniworld series. York, offered to withdraw from the versity of Akron. Threaten Atlantic Liners. ticket in favor of Jöhn Purroy MitIvy Wingo and Lee Magee, of the The theft of seven dollars from the Mass.-Icebergs again chel, the Fusion candidate. St. Louis Cardinals, have accepted United States Mint at San Francisco rans-Atlantic shipping, Cap an offer from John J. McGraw to acBert Thenning, of Buffalo, N. Y., will necessitate the counting of more McKillop of the steamer company the Giants on their trip died of heart disease while riding on than $61,000,000 stored there. reported on his arrival here around the world. a motorcycle with his wife. The Secretary Daniels plans to have A towering berg and motorcycle overturned, but Mrs. government-owned ships of all derowlers appeared off the Thenning was uninjured. scriptions repaired at the navy yards, directly in the track Foreign At Harrison, Miss., two thousand instead of by contract as formerly. liners, when the Numinegroes, comprising the colored popThe gunboat Yorktown arrived at last Friday. It was the Militant suffragette "arson squads" ulation of the county, were compelled fall. this San Francisco after a trip to Central ighted last night destroyed the greens of to march in line past the coffins of America. During the voyage, 30 of the Municipal Golf Links at Yarthe two negroes lynched after they the crew deserted at various places. Putting on Addition. mouth, Eng., with acid. started a riot that resulted in twelve Serious damage to the cotton and Pa.-Work on the new The newly former British canal deaths. rice crops in southwestern Texas has of the American Sheet and zone squadron has left Devonport, Governor Foss asked the Massachuresulted from the recent heavy Company's plant at Farrell England, for Bermuda, where it will setts Public Service Commission to floods. tarted shortly. The addirepresent Great Britain at the Panmake a sweeping investigation of the Herman Simon, the largest individ$500,000 and when comama Canal opening. New Haven Railroad's relations with ual silk manufacturer in the world, make one of the best Maurice Prevost, who represented the Legislature under the Mellen died in the office of one of his mills plants in the country. France at the international aviation management. He points to the mysat Easton, Pa. addition is completed 1,500 meet at Rheims, France, flew 124.48 terious expenditure of $337,000. The Central Telephone Company of men will be required by miles in 59 minutes and 45 3-5 secPittsburgh will increase capital