221. Moses Bros. bank (Montgomery, AL)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
private
Start Date
July 6, 1891
Location
Montgomery, Alabama (32.367, -86.300)

Metadata

Model
gpt-5-mini
Short Digest
bcabaad1

Response Measures

Full suspension

Other: Assignment of assets to trustees (H. A. Sayre, R. B. Suedgrass, S. M. Levine) indicates formal winding/receivership.

Description

Multiple contemporaneous papers report Moses Bros. bank suspended payment (July 6–8, 1891) and placed property in an assignment to trustees. Articles mention a 'great throng' of depositors at the doors (crowding/withdrawal pressure) and an assignment to trustees, indicating suspension followed by effective closure/assignment (no reopening reported). The failure is repeatedly attributed to the 'stringency of money' (liquidity/macro conditions).

Events (3)
1. July 6, 1891 Receivership
Newspaper Excerpt
All real estate, personal property and bills of exchange have been included in the assignment to H. A. Sayre, R. B. Suedgrass and S. M. Levine.
Source
newspapers
2. July 6, 1891 Run
Cause
Macro News
Cause Details
Heavy withdrawals and depositor crowding described in articles; context attributes stress to a general stringency of money (liquidity shortage).
Measures
The firm refused a $100,000 offer from a local bank to tide over the crisis; later placed real estate, personal property and bills of exchange in an assignment.
Newspaper Excerpt
There is a great throng of them around the doors of the bank this morning.
Source
newspapers
3. July 6, 1891 Suspension
Cause
Macro News
Cause Details
Articles state the failure/suspension was 'due to the stringency of money'. Assignment of assets/schedule prepared for trustees followed the suspension.
Newspaper Excerpt
Moses Bros.' bank suspended payment this morning. All their real estate, personal property and bills of exchange have been included in the assignment.
Source
newspapers

Newspaper Articles (12)
1. July 6, 1891 The Dalles Daily Chronicle Dalles, OR
Article from The Dalles Daily Chronicle, July 6, 1891

Click image to open full size in new tab

Article Text

DUE TO THE STRINGENCY. An Honest Bank Failure in the South. MONTGOMERY, Ala., July 6.-Moser's Bro's. bank, suspended payment this morning. They say their assets will amount to more than their liabilities. The failure is due to the stringency of money. The liabilities are said to be about $500,000. They did a saving bank business and had scores of depositors among the poor people. There is a great throng of them around the doors of the bank this morning. The local bank last Saturday offered Moses Bros. a hundred thousand dollars to tide over the crisis, but they refused to take th e money. The firm stands very high so far as integrity, and few believe there is anything dishonest about the suspension.

2. July 7, 1891 The Roanoke Times Roanoke, VA
Article from The Roanoke Times, July 7, 1891

Click image to open full size in new tab

Article Text

A Bank Suspends. MONTGOMERY, Ala., July 6-|Special] -Moses Bros.' bank suspended payment this morning. All real estate, personal property and bills of exchange have bee n included in the assignment to II. A. Sayre, R. B. Suedgrass and S. M. Levine. They say their assets will amount to more than the liabilities. Neither figurescan vet be approximately estimated. The failure is due to stringency of money.

3. July 7, 1891 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, July 7, 1891

Click image to open full size in new tab

Article Text

POOR PEOPLE SUFFER By the Failure of a Savings Bank in Montgomery, Alabama. MONTGOMERY, ALA., July 6.-Moses Bros'. bank suspended payment this morning. All their real estate, personal property and bills of exchange have been placed in their assignment. The liabilities are said to be about half a million dollars. They did a savings bank business, and have many scores of depositors among the poor people. They say their assets will amount to more than their liabilities.

4. July 7, 1891 Wheeling Register Wheeling, WV
Article from Wheeling Register, July 7, 1891

Click image to open full size in new tab

Article Text

Savings Bank Closes. MONTGOMERY, ALA., July 6.-Moses Bros'. bank suspended payment this morning. All their real estate, personal property and bills of exchange have been included in their assignment. The liabilities are said to be about half a million dollars. They did a savings bank business, and have many scores of depositors among the poor people. They say their assets will amount to more than their liabilities.

5. July 7, 1891 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, July 7, 1891

Click image to open full size in new tab

Article Text

BUSINESS FAILURES. Massachusetts Corporation Insolvent -Big Alabama Bank Closed. EAST HAMPTON, Mass., July 6-The Williston Mills corporation today filed & voluntary petition in insolvency on account of attachments for $40,000 placed on the mills. The corporation is twenty-five years old, the present capital being $350,000. The assets and liabilities are not stated. MONTGOMERY, Ala, July 6-Moses Bros.' bank suspended payment this morning. They say their assets will amount to more than their liabilities. The figures cannot yet be estimated. The failure is due to the stringency of money. Their liabilities are said to be about $500,000. They did a savings bank businesss and had scores of depositors among the poorer people. There WAS a great throug of them around the doors of the bank this morning. A local bank last Saturday offered Moses Bros. $100,000 to tide over the crisis, but they refused to take it. The firm stands very high for integrity, and few believe there is anything dishon est about the suspension. Each individual member of the firm has included his home, all his real estate and his personal property in the schedule of assignment. NEW York, July 6.-Salomon & Frank, wholesale tobacco dealers, assigned today. Boston, July R-Joseph W. Parker, merchant tailor, assigned today. Liabilities, $650,000. His nominal assets are said to be slightly in excess of that sum.

6. July 11, 1891 The Historic Times Lawrence, KS
Article from The Historic Times, July 11, 1891

Click image to open full size in new tab

Article Text

THE SOUTH. THREE students of the Woodstown Catholic college, St. Mary's county, Md., were struck dead by lightning while in their beds at night. Several others were injured. ON the Kanawha & Michigan railway, near Charleston, W. Va., a passenger train was wrecked on a burned trestle. Fourteen persons were killed and fiftyeight injured. GALVESTON was swept by a gale for three days. Waters of the gulf were driven inland. FIRE broke out in W. T. Harvey & Co.'s lumber yard at Columbus, Ga., and $25,000 worth of lumber in the yards was destroyed. The fire swept an entire block and the total loss will probably amount to $100,000; insurance about $67,000. VOTERS under the new constitution of Mississippi are required to register at least four months before election. Registration returns have been received to make it reasonably certain that for the first time since reconstruction a majority of the legal voters of the state are white. MOSES BROS.' bank at Montgomery, Ala., has suspended payment. The assets will amount to more than the liabilities. A TORNADO wrecked the walls of the penitentiary at Baton Rouge, La., on the 6th. Ten convicts were killed and a number injured. Much other damage was done in the Louisiana capital. On the same day tornadoes were reported in Mississippi. AT Blockshire, Ga., fifty mounted men, fully armed, broke into jail, took Robert Brown, colored, who raped Mrs. O'Berry, to a spot one mile from town, tied him to a pine sapling and riddled his body with bullets. ROBERT FRANKOVICH, Frank Miltovich, Pete Straugle and J. Speech were drowned during the gale near North Point, Galveston, Tex. All were connected with the fish trade in Galveston. THE Jefferson Lumber Co., the Jefferson Woolen Mills Co., and J. H. Bemis, individually, of Jefferson, Tex., have assigned. The indebtedness of the three concerns will aggregate over $500,000. SUMMIT, Miss., was visited by two cyclones the other day. They were about eight miles apart. Many houses were destroyed and a number of people injured and one child killed.

7. July 16, 1891 The Brookhaven Leader Brookhaven, MS
Article from The Brookhaven Leader, July 16, 1891

Click image to open full size in new tab

Article Text

SOUTHERN GLEANINGS. Devoured by a Panther. Near Milan, Tenn., Miss McCoy, Mary and Johns went off berrying. from the Fly others Miss Myra McCoy wandered blacksome hundred yards to a place where the fruit grew in profusion. Suddenly a wild scream, bloodout. The were curdling girls in its keenness, terrified rang beyond measure, not knowing what kind in of a wild animal was the vicinity. Again the terrifying shriek sounded, and the two girls together sank down behind some bushes. a a girl directly rapid Miss McCoy walk, behind started when her. The toward panther frightened them appeared at screamed and started to run, but she could not escape. The beast seized her, was torn to In was many and she places the flesh pieces. literally stripped from the bones. The other girls. seeing the animal attacked their friend, ran screaming never until a of they from reached the scene, home, when stopping party men hurwent to scene The was at and riedly panther organized, the and still with of the shotguns the body attack. was measured 7 feet 7 to shot by the hunters. inches from The tip beast tip. It had escaped from a circus. A Modest Tennesseen. the There is yet. military young talent gentleman loose in country A in at the superintendent Tennessee wrote last West winter Point for to the terms of admission. The usual circular of information from the secretary of war was returned to him. Some time after he wrote as follows: CATLEN'S MILLS, DE KALB COUNTY, TENN. Jan. 17. 1891 West Point Military A. C.: Mr. Secretary, Honorable Sir: I received your terms some time since. I was 17 of age when under such you. not I can't come years I terms. heard under. from will give the terins come I to to three want per want stay you only years. study that military I I will 140 tactics. month. want At the end of the term I want a position over some army of the United State4. I want you I to send me a round ticket there and back. think I am both physically and mentally qualified to fill the position. I will not be outanything, but I want the position. Please answer this. Jesus Christ's "Death Warrant." Among the curiosities in possession of the association an quarian West Virginia Historical is ancient death and doen- Antiment purporting to be the warrant of Jesus Christ. It was engraved on a plate of brass, and found by the French commissioners of art while excavating in the ancient city of Aquilla, in the kingdom of Naples. It was written in Hebrew and translated by the French commissioners of art of the French armies. On the reverse side of the plate from that on which the death written are "Similar is sent to sentence plate is each the words: tribe.' As were the of the the the official Romans acts careful emperor it is to possible and record governors of the provinces, that this death sentence is genuine. A Bank Suspends. Moses Bros. bank at Montgomery, Ala., has suspended payments. They say their assets will amount to more than their liabilities. The failure is due to stringency of money. The lia bilities are said to be about $500,000. They did a saving bank business and have scores the poorer many people. of depositors The firm among stands very high for integrity. A Quick Courtship. occurred at Denison, a few A romantic Tex., wedding daysage and Lee Miss Ander- Sadie of Philadelphia. of St. met on a and an son, Michael, struck up Louis, acquaintance. Being train prowas was posed, mutally impressed, accepted the and gentleman it the agreed to off the train at at which the pro place get license Denison, could be first cured. The Smallest Still. The smallest "moonshine" distillery ever the revenue was found in and captured recently by Atlanta, curiosity. Ga., officers sent to Washington as a Its capacity is about three gallons. It is so as to be operated on an stove, ordinary constructed cooking and is complete in every detail. Murdered His Wife and Brother. From the backwoods of Baldwin Ala., comes a in which Jesse tragedy county, the William report Cartwright Cart- of killed his brother, John with buckshot. wright, throat. and afterwards He cut his own wife's was jealous. A Veteran. Joseph Patton, who lives. near Clif-

8. July 16, 1891 Sturgis Advertiser Sturgis, SD
Article from Sturgis Advertiser, July 16, 1891

Click image to open full size in new tab

Article Text

THE SOUTHERN SUMMARY. OF the Mississippi counties which have nominated their legislative candidates the result stands for United States senator: George, 17½ votes; Barksdale, 3. Barksdale favors the subtreasury scheme, while George opposes it. This is the principal issue between them. The result so far points clearly to George's re-election and indicates that the subtreasury has not a large following. Barksdale is not at all discouraged, and he and his friends claim that the counties yet to act will change the result in his favor. MOSES BROS'. bank, of Montgomery, Ala., has suspended payment. They say their assets will amount to more than the liabilities. The failure was due to the stringency of money. The liabilities are said to be about $500,000. Each individual member of the firm included his home and all his real estate and personal property in the schedule of assignment. JAMES BARLEY, the negro who criminally assaulted Mrs. Falsom, of Beebe, Ark., was taken from jail at that place by an infuriated mob and hanged to a railroad sign. The coroner's jury returned a verdict of death at the hands unknown persons. L. I. BONBY, editor of the L'Orleans, of New Orleans, and A. S. Caruthers, editor of the Mascot, fought a duel, using rapiers. Caruthers was cut below the eye and the seconds declared honors, The combatants were subsequently reconciled. A CYCLONE struck Madison, Miss., doing great damage to property. One negro was killed and a number injured. The Presbyterian church and two colored churches were completely destroyed. THE registration of legal votes in Mississippi closed on Friday last, and the returns make it reasonably certain that for the first time since reconstruction a majority of legal voters are white. THE vicinity of Summit, Miss., was visited by two cyclones. They were about eight miles apart. Many houses were destroyed and a number of people injured and one child killed. THE jury in the case of H. Clay King, at Memphis, Tenn., charged with the murder of David H. Poston, returned verdict of murder in the first degree.

9. July 17, 1891 Idaho County Free Press Grangeville, ID
Article from Idaho County Free Press, July 17, 1891

Click image to open full size in new tab

Article Text

Savings Bank Failure. MONTGOMERY, Ala., July 8.-Moses Bros. bank suspended payment yesterday. They say their assets are more than their liabilities. The failure is due to the stringency of money. The liabilities are said to be about half a million dollars. They did a savings bank business and had scores of depositors among the poorer people. A local bank offered Moses Bros. $100,000 to tide over the crisis, but they refused to take it. The firm stands very high for integrity and few believe there is anything dishonest about the suspension. Each individual member of the firm included his home, all real estate and personal property in the schednie of assignment.

10. July 17, 1891 Los Cerrillos Rustler Cerillos, NM
Article from Los Cerrillos Rustler, July 17, 1891

Click image to open full size in new tab

Article Text

THE SOUTH. THREE students of the Woodstown Catholic college, St. Mary's county, Md., were struck dead by lightning while in their beds at night. Several others were injured. ON the Kanawha & Michigan railway, near Charleston, W. Va., a passenger train was wrecked on a burned trestle. Fourteen persons were killed and fiftyeight injured. GALVESTON was swept by a gale for three days. Waters of the gulf were driven inland. FIRE broke out in W. T. Harvey & Co.'s lumber yard at Columbus, Ga., and 825,000 worth of lumber in the yards was destroyed. The fire swept an entire block and the total loss will probably amount to $100,000; insurance about $67,000. VOTERS under the new constitution of Mississippi are required to register at least four months before election. Registration returns have been received to make it reasonably certain that for the first time since reconstruction a majority of the legal voters of the state are white. MOSES BROS.' bank at Montgomery, Ala., has suspended payment. The assets will amount to more than the liabilities. A TORNADO wrecked the walls of the penitentiary at Baton Ronge, La., on the 6th. Ten convicts were killed and a number injured. Much other damage was done in the Louisiana capital. On the same day tornadoes were reported in Mississippi. AT Blockshire, Ga., fifty mounted men, fully armed, broke into jail, took Robert Brown, colored. who raped Mrs. O'Berry, to a spot one mile from town, tied him to a pine sapling and riddled his body with bullets. ROBERT FRANKOVICH, Frank Miltovich, Pete Straugle and J. Speech were drowned during the gale near North Point, Galveston, Tex. All were connected with the fish trade in Galveston. THE Jefferson Lumber Co., the Jefferson Woolen Mills Co., and J. H. Bemis, individually, of Jefferson, Tex., have assigned. The indebtedness of the three concerns will aggregate over $500,000. SUMMIT, Miss., was visited by two cyclones the other day. They were about eight miles apart. Many houses were destroyed and a number of people injured and one child killed.

11. July 18, 1891 Baxter Springs News Baxter Springs, KS
Article from Baxter Springs News, July 18, 1891

Click image to open full size in new tab

Article Text

result is not disappointing. The livery business seems to be unusually good in Baxter of late. Our mineral prospectors are still at work with encouraging results. The weather for the past two weeks has been very favorable for corn. Fruit has an unusually fine flavor this year. In fact so does hop tea. If farmers can only hold their grain back a while prices will be all right. A German carp was caught near the dam one day this week weighing 21 pounds. Hear Mrs. Battles' lecture on "Heredity and Hygiene" at the M. E. church Saturday evening. Quite a large party of young people from Cherokee have been camping for a week past at the Devil's Promenade. The Rev. Frank W. Otto baptized and received into the M. E. church four young converts Wednesday evening last. Galena Times: A car loaded with wheat this week in Galena. This is the first one we have heard of in several years. The heavy rain Thursday which extended over Cherokee county insures a big corn crop even if we get no more rain this season. W. W. Scott lost a fine young Kentucky jennet Wednesday by its falling into an old well on the Hornor & Hodgkins place. On Saturday evening, July 18, Mrs. J. H. Battles of Nebraska will lecture at the M. E. church upon a subject of vital interest to everybody. The prospects are that the soldiers rennion of 1891, at Camp Logan will, easily discount any meeting of the kind yet held at this place. The Grand Army boys think they will secure enough money during the reunion to not only buy the grounds but build an amphitheatre. The People's Party county convention will be held in Columbus Aug. 4. Baxter Springs is entitled to two delegates, one from each ward. W. W. Scott & Bros. had over $3000 in notes and cash deposited with the Moses Bros. bank of Montgomery, Ala., when they assigned on July 8. Galena Times: The amount of money allowed by the county for the bridge to be built across Shoal Creek at I orter's ford is $1895. This bridge ot will soon be built. The Ladies Aid Society of the M. E. church will give an ice cream lawn social at City Hall park Wednesday evening, July 22. Everybody cordiale ly invited to attend. Mrs. J. H. Battles of Stella, Neb., will lecture at the M. E. church unn der the auspices of the W. C. T. U. Saturday evening, July 18. Subject, = "Heredity and Hygiene." 11' The Baxter Springs gun club will give their usual tournament this year c during reunion week and have the promise of some crack shots who have never met with them before. le S. The Short Creek Republican says: The 4th of July program issued by the Baxter NEWS was the neatest job we at have ever seen in that line. It certainly reflects credit upon Gardner. 1The Baxter Springs postmaster has d lately received notice of an increase in y salary, while the same amount was taken off the Columbus office. Baxter le is not booming, but she is growing. Mrs. S. A. Mayer has posters out announcing a sale of horses, cattle and in hogs at her farm eight miles west and one and a half miles north of this city on Thursday, July 23, by J. P. Hartley. or Mr. Mason, a visitor in this section ty who lost some clothing and valuable papers on the Chetopa road a few days ago, put a 25c local in the NEWS and recovered his property. Advertising pays. is. % Weir Tribune: How any man can live in Weir City and imagine that prohibition prohibits is a mystery to nd us. However the law works in interior towns, it is a miserable failure here M. and always will be. To Palace Swing Men. Bids will be received up to the first d of August for the exclusive swing privilege at the Baxter reunion Aug.

12. July 18, 1891 Baxter Springs News Baxter Springs, KS
Article from Baxter Springs News, July 18, 1891

Click image to open full size in new tab

Article Text

W. W. Scott & Bros. had over $3000 in notes and cash deposited with the Moses Bros. bank of Montgomery, Ala., when they assigned on July 8.