Josiah Morris Bank - Montgomery, AL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 1, 1901*
Location: Montgomery, Alabama (32.367, -86.300)

Metadata

Model: gpt-5-mini
Short Digest: d34b0e46

Response Measures

None

Description

Article states the Josiah Morris Bank closed in January, 1901 and is described as defunct; a trustee and creditors' meeting in 1905 is discussed as part of bankruptcy/adjustment. No run is mentioned. Cause appears to be bank-specific insolvency/poor assets and liabilities. OCR errors in the article were corrected (e.g., 'Josish' -> 'Josiah', dates inferred from text).

Events (3)

1. January 1, 1901* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank closed due to insolvency: assets and liabilities schedules show heavy adverse claims, large bad paper and insufficient recoverable assets.
Newspaper Excerpt: the Josiah Morris Bank, which closed in January, 1901, is bankrupt
Source: newspapers

2. November 8, 1905 Other

Newspaper Excerpt: About 125 creditors of the defunct bank attended the meeting either in person or were represented by counsel. The schedule of assets and liabilities was presented to the creditors.
Source: newspapers

3. November 8, 1905 Receivership

Newspaper Excerpt: At a meeting ... the proprietor of the Josiah Morris Bank, which closed in January, 1901, was adjudged a bankrupt ... Henry Davidson ... was elected trustee and the creditors received a schedule ... the estate to be adjusted by the trustee appointed in bankruptcy court on Nov. 8, 1905.
Source: newspapers

Newspaper Articles (1)

1. November 8, 1905 The Montgomery Advertiser Montgomery, AL

Article from The Montgomery Advertiser, November 8, 1905

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Article Text

TRUSTEE SI Takes Charge of Affairs of Billion W it MEET CREDITORS EHE assets are $1,455,588.66 and Liabilities $705,368.04. Matter of Defunct Josish Morris Bank is to Be Adjusted But Creditors surit 100 IIIM Returns. At a meeting at 10 o'clock yesterday -118 W J 10 creditors the JO ing. proprietor of the Josiah Morris Bank. which closed in January, 1901, kq bankrupt B persphipe SBM оцм put Pettun eur JO seuor 'D Thomas expn tates Court several weeks ago, Henry Davidson, the well known real estate and insurance man, was elected trustee nd the creditors received a schedule howing that Mr. Billing's assets are 1,455,588.66 and his liabilities $705.04. 89 The assets consist largely of notes, verdrafts. stocks in obscure companies racts of land and personal property 10 clalms the mainthy 0.18 eq, epositors in the bank. At the bankuptcy court it was estimated that the reditors woull receive but a small per ent of their claims upon final adjustnent of the estate. About 125 creditors of the defunct ank attended the meeting either in erson or were represented by counsel. JO oTee the up held SEM meeting eu, Bank up Referee Stratton a V e2pn uptcy for the United States Court. Mr. filling was not present. He was repesented by his attorney. Ray Rushton. A Voluminous Document. Since Judge Jones adjudged Mr. BilB JO petition the uo bankrupt B zu umber of his Montgomery creditors, Ir. Rushton, as attorney for Mr. Bilschedule B up pey has 'Su bank the JO 1 pus assets the is a voluminous document, covering. erhaps, 100 typewritten pages. Every имор 108 8] 11 pue assets JO we pue creditors the 10 [usnued the 10 Sujos u; house OM1 emos peursuco Aeu ver the document and in proving the umerous claims which were attached S oxhibite The schedule of assets and liabilities Mr. Billing as presented to the reditors yesterday represents his nancial condition at this time When -'IS than толе peMo 41 Failer Hueq eu 00,000. For some time Mr. Billing, by onsent of the creditors, continued the FIVE OM1 pue y him. Other creditors We y collateral which they h " ene Peonded The schedule of liabilities Ir. Billing owes $2,411.43 :sexe) pus Ajuno reditors holding securities: or checks issued to various ew York banks which were 16,730.65 to various banks; you depositors holding interes ertificates: $428,596.89 to regular deoum creditors 07 $22696484 uo recoverd a -se Allope our 4q services -es pus notes up 1011 Iscounted which the schedule says pus malkers the sq pied eq 07 1480 0,705.21 in accommodation paper. Shedule of Assets. "ing his assets Mr. Billing extate Tax pus puu, personal property -101 se POPLAID '0 the receber JO sp JO "1119 's nissory notes, $458.ch and five suits of :ht family portraits, of Montgomery Trade euo safe, uos, euo :09 check euo case, Sujjy "oun 095 challs P # steese 10 schedule e Continuing shown that the following property owned: Debts due on open acunt, $228, 457.26; 7,500 shares of stock the Moulton Valley on Company, the up stools 10 shares 1-1 28 :000's outhern Exposition Company, $375; 15 ares of stock in the Birmingham Real state Association, $75,000: 100 shares stock in the Wetumpka Bridge Comup stock 10 shares 089'T :000'0T$ 'Au e Montgomery Light Company, $158,Alabama the us Moors JO shares 001 :0 puobes 24 :000'0T$ Company, 1010 ortgage bonds of the Montgomery ght and Water Power Company, $37.0; 20 shares of stock In the East BirIngham Land and Realty Company, Com- the up stock JO shares 29 :000' ercial Fire Insurance Company, $6,200: liquidated claims of every nature Inuding judgment against Van Kirk and and Construction Company for 3,371.10. another judgment against the me concern for $13,941.80 and two -up MIN UBA T 'M isujese vidually, for approximately $10,000; aim against W. T. Smith for proceeds Shitth L 'M the 10 stock jo sale imber Company, $50,000; award of eorge F Moore, as arbitrator against natius Pollak, and judgment thereon r $12,500: Whitney National Bank of . Orleans, $13.13; First National -UN Month $14.66 JO Hut onal Bank of Columbus, Ga., $27. This 10 18201 B ales The recapitulation of assets shows follows: Securities and claims. $ 8018 accounts 0281980 7.10; lands and real estate, $62.195. aking a grand total of $1,455,588.66. the 10 emos The county of Montgomery and the ty of Montgomery were among the rgest creditors of the bank. The unty has secured a judgment against treasurer 811 10 puoq the uo Aleans a #41 up spunj 411 рец oum Cochran T The Tallure sap 10 thin the 18 Mu ty Council last Monday night directed e City Attorney to begin action rainst R H. Somerville who was City easurer at the time of the failure recover the money lost. Among the other depositors who had the 18 bank the up 000'01$ than ejo the Grea Januare JO me buisville and Nashville Railroad Comny, $40,515.97 John P. Kohn, Montmery. $12,061.10 J. N. Hall, Montmery, $7,127.87; R. L. Todd, Mont mery, $10,313.21: J. M. Reynolds, ontgomery, $11,250 G. W. Paine, Suf. Abbbtr W H pus 000'6$ "BA "MI reasurer of the Western Railway of labama, $10,853.65 The schedule ows a large list of small depositors. ost of them residing in Montgomery. Among the iargest debtors to the pue Jallure the JO thing the 18 Mut hose paper was held as security were H. Clisby & Co., $37,200: Sistrunk &