226. Commercial Bank (Selma, AL)

Bank Information

Episode Type
Run โ†’ Suspension โ†’ Reopening
Bank Type
state
Start Date
December 30, 1896
Location
Selma, Alabama (32.407, -87.021)

Metadata

Model
gpt-5-mini
Short Digest
5174b663a7991d95

Response Measures

None

Description

Articles present conflicting accounts. A 1929 article recounts the failure/closure of the Commercial Bank on Dec. 30, 1896, triggered by a run that day and resulting in assignees and long-delayed creditor payments. A 1903 newspaper item, however, states the Commercial Bank at Selma has resumed specie payments (July 1903). The most coherent interpretation is that a run occurred on/around Dec 30, 1896, the bank suspended/failed at that time, and at some later date (by 1903) a bank operating as the Commercial Bank at Selma was able to resume specie payments (possible reorganization/reopening). Because the sources explicitly describe a run leading to failure and also report a later resumption, I classify the episode as run_suspension_reopening but note the historical record in these clippings is ambiguous (possible reorganization or different institutions sharing the same name).

Events (3)

1. December 30, 1896 Run
Cause Details
Newspaper only reports a run developing that day; no specific trigger or misinformation given.
Measures
Bank failed to open its doors; assignees were later appointed (creditor proceedings followed).
Newspaper Excerpt
the bank failed to open its doors Dec. 30, run the bank developing that day
Source
newspapers
2. December 30, 1896 Suspension
Cause Details
Bank closed and assignees were appointed; closure appears to be a direct consequence of the run and subsequent failure to open (exact insolvency details not provided).
Newspaper Excerpt
the bank failed to open its doors Dec. 30 ... assignees getting the bank's affairs
Source
newspapers
3. July 15, 1903 Reopening
Newspaper Excerpt
The Central Bank, at Montgomery, and the Commercial Bank, at Selma, Ala., have both resumed specie payments. All demands are now promptly cashed at their respective counters.
Source
newspapers

Newspaper Articles (2)

Article from Okolona Messenger, July 15, 1903

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Article Text

ling a piece of steak from a big back killed in the neighborhood of Okolona. Kill another gentlemen and send us a half a quarter, or so. W. C. McQuiston, Esq., has withdrawn from the Seld as a can* didate for Justice of the Peace, and now runs for Mayor of the town of Okolona. SUSPENDED Exchange Bank, at Griffin, Georgia, has suspended payment. Make a note of the fact, as Georgia money is now and then to be met with through here. An Agricultural Society was formed at Columbus, Miss., on the 7th inst. Col. Thomas C. Billups was elected President ; Geo. C. Brown, Esq., Secretary, and Wm. B. Winston, Treasurer. The President has taken up his residence at the Military Asylum for the summer. His official business will be transacted at the White House. Secretary Floyd previously moved out to the Asylum. Henry Brooks, the last surviving officer of the Kane Arctic Expedition, died in New York on the 29th of June. His death was caused by sun-stroke. The Central Bank, at Montgomery, and the Commercial Bank, at Selma, Ala., have both resumed specie payments. All demands are now promptly cashed at their respective counters. See the card of Dr. Dickson.We know from experience that his work is neatly, and, more than all, substantially executed. So, ye who are afflicted with aching or nervous teeth, let him fix them for you. We direct the attention of our readers to the beautiful lines of "Elyag" on our first page of the present issue. "Elyag" has few rivals as a poet, and, as a hightoned, noble-hearted gentleman, is unsurpassed. Last Friday night, a levee was given to the young ladies of Prof. McCurdy's school, by Mr. Crow, the clever proprietor of the young ladies' boarding-house. We attended, and our memory fails to recall a time more pleasantly and agreeably spent. ENLARGED.-We have inadvertently neglected to notice the enlarged and improved appearance both of the Marion American and Canton Citizen. We congratulate and live in hope-our time will come some time or other. NOGRO KILLED.-At H y Springs, Miss., a few days ago, a negro was whipped to death by a man named Cook, an overseer for a Mr. Cole. The Herald represents Cook to be a man of very little sense, and unfit to have charge of negroes. QUICK WORK.-A man named Wm. Suncock, of Washington, county, Pa., recently lost his wife in the morning-was arrested by the constable at eleven o'clockmarried his second wife before night-followed the remains of his first wife in company with the second, to the grave the day after. CUMBERLAND UNIVERS IT Y.We have received a catalogue of this institution, and judge it is in a flourishing condition. The total number of students is 509, of whom 165 belong to the Collegiate De. partment, 117 to the Preparatory, 33 to the Theological, 6 to the Engineering, and 188 to the Law. ACCIDENT ON THE RAILROAD.We learn from Mr. Geo. Fowler, conductor on the M. & O. railroad, that the down train from West Point, when about a mile above Crawfordville, the cow-cather of the locomotive threw from the track a negro woman who was asleep on the rails. She escaped with only a few slight wounds on the head. We attended a public debate of the Okolona Debating Club last Saturday night; the question was whether Gen. Walker was and is


Article from The Selma Times-Journal, March 4, 1929

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Article Text

Ordered Paid To Creditors Of Bank Closed Here In 1896 Echo of the failure of the old Commercial Bank, which occurred Dec. 30, 1896, and la which here on several hundred thousand dollars were lost mainly by New York banks, was heard in Circuit Court Monday when Judge Thomas Knight Issued an order the register in to over to the pay creditors of Commercial Bank $1,359.59 now in the hands the register. The of E. Jeffries, asthe Bank filed 1929, prayed Judge Knight order which would allow the register pay the amounts due the of creditor. Notice will to creditors by the notice to printed in the Selma TimesMr. Jeffries, now vice president and general counsel for the SouthRailroad with, Washington named signee the bank with Messrs GillWelll, the latter of New York, when the bank failed to open its doors Dec. 30, run the bank developing that day, were be paid $100 each. Hundreds filed the amount cut down $50. George E. Lewis assistant the assignees getting the bank's affairs Mr. Lewis stated today that were not the York banks most the failure. like $200,000 was on deposit the The 32 column of the the bank's failure in January of this year.