2363. Commercial Bank (Jacksonville, FL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 30, 1914
Location
Jacksonville, Florida (30.332, -81.656)

Metadata

Model
gpt-5-mini
Short Digest
d7d0e9e3

Response Measures

None

Description

The Commercial Bank of Jacksonville suspended operations on Dec 30, 1914 (state-chartered per Article 2). There is no description of a depositor run; the bank went into the hands of a receiver and was referred to as defunct with later indictments for embezzlement (Nov 1915 article). Thus this is a suspension that ended in closure/receivership due to bank-specific troubles.

Events (2)

1. December 30, 1914 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Long-running loss of business, management changes, founders withdrew support; bank insolvent/unsustainable.
Newspaper Excerpt
Jacksonville, Fla., Dec. 30.-The Commercial bank, operating under a state charter here, closed its doors today.
Source
newspapers
2. November 29, 1915 Receivership
Newspaper Excerpt
The bank, after going into the hands of a receiver, underwent a thorough investigation ... Major Harrison ... was formerly connected in an official capacity with the defunct Commercial Bank.
Source
newspapers

Newspaper Articles (5)

Article from The Ocala Evening Star, December 31, 1914

Click image to open full size in new tab

Article Text

SUSPENSION OF A JACKSONVILLE BANK The Commercial Bank of Jacksonville suspended operations Wednesday. Closing its doors doesn't seem to be so much a failure as a decision of the officers that it will not pay to run it longer. It had been losing business for some time, and its suspension had been expected. It isn't likely that its depositors will lose their money. The Commercial Bank was one of Jacksonville's oldest firtancial institutions, and for years did a big business. A few years ago, however, the people who founded it and carried it on drew out of it, since when it has changed management several times and its business has gone to other banks.


Article from Norwich Bulletin, December 31, 1914

Click image to open full size in new tab

Article Text

Jacksonville, Fla, Bank Suspends. Jacksonville, Fla., Dec. 30.-The Commercial bank, operating under a state charter here. closed its doors today. The officers made no state ment further than that the exchange was taken to protect depositors. The bank is capitalized at $100,000. Its present assets and liabilities are not known.


Article from The Pensacola Journal, April 17, 1915

Click image to open full size in new tab

Article Text

Quietus Put On Hurtenbach's Resolution and Bid for Fame. # HE SAYS TRIAL IN PENSACOLA A FARCE Refers To Prosecution In State Court in Pensacola Bank Case. By Claude L'Engle. Tallahassee, Apv3 16.-The house was in killing mood today, voting down all resolutions including Representative Hurtenbach's resolution for the investigation of state bank failures during the past year, which was lost by tie vote, 32 to 32, the speaker deciding. Hurtenbach accepted Goldstein's amendment substituting the two committees house and senate on banking and loans, for special committee provided for in resolution. Hurtenbach asked that the resolution lay over informally so as to enable him to get additional information in support of the need of it, Goldstein opposed this on the ground, that the mere publishing of the fact that such a resolution was introduced had a tendency to create uneasiness in the minds of the people about the state banks and that the investigating should be made at once at that its findings might increase the confidence that the public has now in the solvency of state banks, and favored the immediate adoption of the resolution as amended. Wood of Pinellas, opposed the resolution on the ground that it might cast reflection on the comptroller's office, who ought to be first asked for Information. Hurtenbach replied to this, that the comptroller would be the first one that would be selected to appear and be called on to give information, but that the committee should go further than the comptroller and get all the facts in connection with the failure of the Pensacola State Bank, the bank in Jefferson County, the Commercial Bank of Jacksonville and the banks at Caryville and Warsaw; that the depositors had lost their money in these -banks and were not satisfied with the meagre report contained in the comptroller's regular report that there had been but four bank failures in Florida during the past yeng Turnbull, of Jefferson, opposed the resolution on the ground that he had Introduced five bilis remedying defects discovered by the comptroller in the state banking laws and this was all that was necessary because the report of the committee contemplated under the resolution would accomplish nothing at all. Hurtenbach replied, that he thought it was due the comptroller's office to make such an in-vestigation and it was also due to the public who had lost their money in these bank failures to be advised that -this legislature was safeguarding the interests and ready to protect them in future. # TRIAL A FARCE, HE SAYS. In reply to Turnbull's question, if there had not been a prosecution in Pensacola of those responsible for the State Bank failure, Hurtenbach answered, that there had been but it was, and had been a farce, occupying less than a day in the taking of testimony. In calling for a division, on the passage of the resolution. Anderson voted "no," and Hurtenbach voted "aye." But Hurtenbach was not quick enough to get a roll call before the speaker had cast the deciding vote and announced the result. Mr. Hurtenbach will tomorrow introduce another house concurrent resolution asking for authority from the legislature to investigate the various state bank failures by calling before the joint committee the comptroller and other bank officials with necessary papers. This time he will proceed so as to get a roll call on the resolution and by this method he believes that the resolution will be adopted. # NO SIGNS OF CAUCUS. There was no sign of a caucus among the West Florida house contingent when the house met today, for four of the West Florida members divided two and two, on a proposal by Davis of Jackson, to suspend the rules and pass the senate bill changing the dividing lines in Jackson, Washington and Holmes counties. Davis said that there was great need for this bill being rushed through because it would protect the schools in these counties. Brock of Washington, said there was no need for rushing it through but that it should take the


Article from The Ocala Evening Star, July 13, 1915

Click image to open full size in new tab

Article Text

Our esteemed contemporary, the Miami Herald, speaking of the failure of the Commercial Bank of Jacksonville, the suspension of the Florida Life Insurance Company, and other business troubles, denounces what it calls "newspaper trials." One of the great troubles in this state is that newspapers do not try half as many cases as they should. If the newspapers of Florida were as outspoken


Article from The Lakeland Evening Telegram, November 29, 1915

Click image to open full size in new tab

Article Text

PROMINENT CITIZEN ARRESTED Jacksonville, Nov. 29-S. C. Harrison, a member of the local beard of bond trustees and prominent in public affairs of this city for years, was placed under arrest shortly after noon Friday on a grand jury capias in two instances by Sheriff W. H. Dowling. The two indictments for Mr. Harrison made out by the grand jury allege in the charges embezzlement, abstraction and wilful misappropriation of monies and funds and credits of a banking company. The name of the company was not mentioned in the capiases issued throngh Frank Brown, clerk of the Circuit Court. Immediately after his arrest Mr. Harrison was taken by the sheriff before Judge George Couper Gibbs, of the Circuit Court where a bond of $1,000 was furnished and approved in each case. F. I. Wheeler and Gus Muller, both members of the board of bond trustees, signed the bond or Mr. Harrison, which will assure his appearance for thrial. Major Harrison, who is now engaged in the insurance business, was formerly connected in an official capacity with the defunct Commercial Bank. The bank, after going into the mands of a receiver. underwent a thorough investigation led by State's Attorney W. A. Hallowes, Jr. State Comptroller Knott also took a part in the investigating which was completed a short time .. ago. It is stated by interested persons that other indictments will follow the ones found in the case of S. C. Harrison, Jr.