Traders & Truckers Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 13, 1912
Location: Norfolk, Virginia (36.847, -76.285)

Metadata

Model: gpt-5-mini
Short Digest: c9a08db7

Response Measures

None

Description

Article (The Times Dispatch, 1912-06-14) refers to the Bank of Mecklenburg as a 'failed'/'defunct' institution at Boydton and discusses a Supreme Court decision about depositors' suits; no run is mentioned. The bank appears to have failed and been closed with receivers/trustees involved. Date of court decision referenced is 1912-06-13 (reported June 14).

Events (3)

1. June 13, 1912 Suspension

Cause Details: Bank had previously failed (defunct institution); article does not state specific cause of failure.
Newspaper Excerpt: Depositors Lose. ... the Bank of Mecklenburg, at Boydton, Va., lost in actions brought against directors of the defunct institutions ... In the case of the Boydton failure, It was said to-day that the statute of limitations would prevent any new suit.
Source: newspapers

2. * Other

Newspaper Excerpt: the depositors of two failed banks, the Traders and Truckers, at Norfolk, and the Bank of Mecklenburg, at Boydton, Va., lost in actions brought against directors of the defunct institutions ... The court held that suit should have been brought by trustees and receivers, respectively, for the benefit of the trusts, and that depositors had no right to sue personally until they had applied in court to have the trustees and receivers sue and the latter had declined so to do.
Source: newspapers

3. * Receivership

Newspaper Excerpt: The court held that suit should have been brought by trustees and receivers, respectively, for the benefit of the trusts...
Source: newspapers

Newspaper Articles (1)

1. June 14, 1912 The Times Dispatch Richmond, VA

Article from The Times Dispatch, June 14, 1912

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Article Text

Depositors Lose. Norfolk, Va., June 13.-By the decision of the Supreme Court at Wytheville to-day, the depositors of two failed banks, the Traders and Truckers, at Norfolk, an dthe Bank of Mecklenburg. at Boydton, Va., lost in actions brought against directors of the defunct institutions for alleged neglect of duty. In both cases depositors had sued the directors on their own account. The court held that suit should have been brought by trustees and receivers, respectively. for the benefit of the trusts, and that depositors had no right to sue personally until they had applied in court to have the trustees and receivers sue and the latter had declined so to do. In the case of the Bydton failure, It was said to-day that the statute of limitations would prevent any new suit.