Farley National Bank - Montgomery, AL

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 4180
Charter Number: 4180
Start Date: January 25, 1892
Location: Montgomery, Alabama (32.367, -86.300)

Metadata

Model: gpt-5-mini
Short Digest: c39bfd36

Response Measures

None

Receivership Details

Date receivership started: 1891-10-07
Date receivership terminated: 1892-02-15
OCC cause of failure: Losses

Description

Article (1905-05-12) recounts that Farley National Bank went into the hands of a receiver on January 25, 1892, after adverse drafts/loans charged to the Alabama Terminal and Improvement Company. The text later states the bank was restored from bankruptcy, indicating it reopened/resumed operations at some point. No run is mentioned.

Events (7)

1. December 18, 1889 Chartered

Source: historical_nic

2. October 7, 1891 Receivership

Source: historical_nic

3. January 25, 1892 Receivership

Newspaper Excerpt: The Comptroller of the Currency appointed H. M. Hall of Montgomery as the receiver. ...the Farley Bank went into the hands of a receiver as the result, it was claimed, of drafts and loans and discounts charged to the Alabama Terminal and Improvement Company.
Source: newspapers

4. January 25, 1892 Suspension

Cause: Government Action
Cause Details: Comptroller of the Currency appointed a receiver after drafts and loans and discounts charged to the Alabama Terminal and Improvement Company left the bank insolvent.
Newspaper Excerpt: It will be remembered that January 25, 1892, the Farley Bank went into the hands of a receiver
Source: newspapers

5. February 15, 1892 Restored To Solvency

Source: historical_nic

6. July 16, 1906 Voluntary Liquidation

Source: historical_nic

7. * Other

Newspaper Excerpt: Soon thereafter the bank, having been restored from bankruptcy, assigned the debt to the orators in the suit before the Supreme Court, Hall and Farley.
Source: newspapers

Newspaper Articles (1)

1. May 12, 1905 The Montgomery Advertiser Montgomery, AL

Article from The Montgomery Advertiser, May 12, 1905

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Article Text

DECIDES OLD SUIT IMPORTANT DECISION OF ALABAMA SUPREME COURT. Stockholders of Terminal and Improvement Company Are Liable for Money Received From Montgomery Bank. Litigation of many years' standing yesterday reached its climax when the Supreme Court of Alabama decided that all stockholders in the old Alabama Terminal and Improvement Company, with an original capital stock of $150,000, are liable for the full amount which they received improperly, it is alleged, from the Farley National Bank. It will be remembered that January 25, 1892, the Farley Bank went into the hands of a receiver as the result, it was claimed, of drafts and loans and discounts charged to the Alabama Terminal and Improvement Company. The Comptroller of the Currency appointed H. M. Hall of Montgomery as the receiver. The stockholders in the bank only a year or two ago recovered $56,000 from Fox Henderson of Troy, which is said to have been the amount invested by him in the Terminal and Improvement project which included the building of the Alabama Midland Railroad into Montgomery. The building of the old Montgomery, Tuscaloosa and Memphis Railroad, now the property of the Mobile and Ohio Railroad out of MontIt gomery, bankrupted the concern. likewise sent the Farley Bank into bankruptcy and the stockholders of the bank have been ever since trying to get back the $150,000. The Montgomery City Court decided that the promoters of the railroads were not liable, but the Supreme Court yesterday reversed the decision. In 1892 Mr. Hall, the receiver of the bank, succeeded in getting a judgment against the promoters in the sum of $117,890.47, but on execution the money could not be collected. There was some interference of the law and the debt has been pending since. Soon thereafter the bank, having been restored from bankruptcy, assigned the debt to the orators in the suit before the Supreme Court, Hall and Farley. The stockholders of the Alabama Terminal and Improvement Company, who are held liable for the assets of about $100,000 which were obtained from the Farley Bank are as follows: Charles Henderson, $10,000; Jerre C. Henderson, $5,000; Lafayette and William J. Henderson, a firm, $20,000; Gustavus Hendricks, $17,000; John S. Carroll, $3,000; Carroll and Murphree Company, $2,000; J. M. Henderson & Co., $7,500; Oliver C. Wiley, $9,000; Wiley and Murphree, a firm, $12,000, and T. K. Brantley & Son, $5,000. Gunter & Gunter, J. M. Chilton and Horace Stringfellow represented the trustees in the suit against the Terminal and Improvement Company and the defendants were represented by R. L. Harmon and W. S. Thorington.