Planters' and Mechanics' Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: February 2, 1908
Location: Petersburg, Virginia (37.205, -77.392)

Metadata

Model: gpt-5-mini
Short Digest: a04696a7

Response Measures

None

Description

Article (The Times Dispatch, 1908-02-02) describes the Planters' and Mechanics' Bank of Petersburg as insolvent and instructs charging the debt due the Commonwealth to suspended debts. No run is mentioned; the bank is effectively closed/insolvent. Classified as a suspension leading to closure.

Events (1)

1. February 2, 1908 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank described as insolvent; Commonwealth to charge off debt and transfer to suspended debts (indicates bank failure/insolvency).
Newspaper Excerpt: To require the debt due the Commonwealth by the insolvent Planters' and Mechanics' Bank, of Petersburg, Va., to be charged off the accounts ... and to transfer said Item to the account of suspended debts.
Source: newspapers

Newspaper Articles (1)

1. February 2, 1908 The Times Dispatch Richmond, VA

Article from The Times Dispatch, February 2, 1908

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Article Text

Jacobs & Levy ers. The latter at once called the attention of the chair to the fact that the Alexandria man was "present and not voting." Speaker Byrd ruled that the point Alexandria returned to his seat amid great laughter. House Bills Passed. The following House bills were passed: To amend and re-enact section 1459, Code of Virginia. To amend and re-enact section 207 of the Code of Virginia, relative to the duties of the keeper of the rolls. To amend and re-enact an act entitled "an act to amend the charter of the city of Fredericksburg, in relation to justices of the peace, police justice, constables, and the police of said city, and in relation to the mayor," approved February 18, 1898. To authorize the apportionment of city taxes assessed upon real estate and the redemption of any part of such real estate from the lien of such taxes. Senate Bills Passed. Amending and re-enacting an act approved March 3, 1896, entitled an act to regulate the granting of injunctions in certain cases. Amending and re-enacting section 3456 of the Code of Virginia, 1887. Amending and re-enacting section 3438 of the Code of Virginia, 1887. To appropriate the sum of $3,920.60 for paying James F. Bradley & Co., contractors, for work contracted for by the Improvement of the Capitol Grounds Committee. To require the debt due the Commonwealth by the insolvent Planters' and Mechanics' Bank, of Petersburg, Va., to be charged off the accounts kept by the Auditor of Public Accounts and the Treasurer, respectively, which show the amounts of money from time to time in the treasury to the credit of the Commonwealth, and to transfer said Item to the account of suspended debts. The House adjourned until noon tomorrow.