220. Montgomery Bank & Trust Company (Montgomery, AL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
March 30, 1917
Location
Montgomery, Alabama (32.367, -86.300)

Metadata

Model
gpt-5-mini
Short Digest
91f714db

Response Measures

None

Description

Articles (Mar 30 and May 15, 1917) show the state superintendent petitioned for a receiver because the bank had ceased banking operations, was losing money, and reduced capital; receivers were appointed May 15, 1917. No run or depositor panic is mentioned. Classified as suspension/closure (government action leading to receivership).

Events (2)
1. March 30, 1917 Other
Newspaper Excerpt
Judge Gaston Gunter has set Monday as the date for the consideration of a petition of Alex E. Walker, state superintendent of banks, for the appointment of a receiver of the Montgomery Bank and Trust company. The petition was filed at the request of minority stockholders... The bank has not been engaged in the banking business for three years, but the organization has remained intact while officers carried on a trust business. Superintendent Walker's petition represents that the bank is losing money and that the overhead expense of operating under present plans is too great.
Source
newspapers
2. May 15, 1917 Receivership
Newspaper Excerpt
Receivers Named Montgomery, May 15.-(Special)-T. J. Reynolds and J. R. Sayre were appointed receivers of the Montgomery Bank and Trust company by Judge Gaston Gunter Tuesday afternoon. They will take control of the assets of an institution, which has ceased to exist during the past two years. The appointment of receivers was requested by Alex E. Walker, state superintendent of banks, who said it had reduced its capital below the amount required by law and was being operated at a loss to stockholders.
Source
newspapers

Newspaper Articles (2)
1. March 30, 1917 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, March 30, 1917

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Article Text

sion that the sheriff was responsible for the liquor. LYNCHING WAS FEARED Sak Hollis, negro of Geneva county. was placed in the Montgomery county jail for safekeeping Thursday; having been brought to this city by the sheriff of Geneva, who feared a mob would attempt to lynch him. Hollis is charged with the murder of G. F. Cropps, a farmer, Saturday night. The deputy sheriff carried Hollis from Geneva to Dothan in an automobile and caught a train for Montgomery Wednesday night. TO HEAR BANK CASE Judge Gaston Gunter has set Monday as the date for the consideration of a petition of Alex E. Walker, state superintendent of banks, for the appointment of a receiver of the Montgomery Bank and Trust company. The petition was filed at the request of minority stockholders, who seek to obtain a portion of their investment. The bank has not been engaged in the banking business for three years, but the organization has remained intact while officers carried on a trust business. Superintendent Walker's petition represents that the bank is losing money and that the overhead expense of operating under present plans is too great.

2. May 16, 1917 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, May 16, 1917

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Article Text

Receivers Named Montgomery, May 15.-(Special)-T. J. Reynolds and J. R. Sayre were appointed receivers of the Montgomery Bank and Trust company by Judge Gaston Gunter Tuesday afternoon. They will take control of the assets of an institution, which has ceased to exist during the past two years. The appointment of receivers was requested by Alex E. Walker, state superintendent of banks, who said it had reduced its capital below the amount required by law and was being operated at a loss to stockholders.