Multiple contemporaneous articles (dated July 19, 1913) report National Bank Examiner Thomas C. Dunlap discovered a large shortage/defalcation at the First National Bank of LaFayette, Ga.; the examiner closed the bank and was appointed temporary receiver. No run is mentioned. The closure is due to embezzlement/shortage and resulted in receivership, i.e., permanent closure.
Events (4)
1.May 7, 1904Chartered
Source
historical_nic
2.July 19, 1913Receivership
Source
historical_nic
3.July 19, 1913Receivership
Newspaper Excerpt
Acting comptroller ... appointed National Bank Examiner Thomas C. Dunlap temporary receiver. The examiner has reported the institution insolvent, its capital and surplus being entirely wiped out.
Source
newspapers
4.July 19, 1913Suspension
Cause
Bank Specific Adverse Info
Cause Details
Large shortage/defalcation discovered by national bank examiner (missing notes/embezzlement since last exam); preliminary estimate at least $30,000, capital and surplus wiped out.
Newspaper Excerpt
The First National bank of Lafayette, Ga., failed today on account of a large shortage in its funds. Examiner Dunlap discovered the shortage yesterday and closed the bank today with the authority and approval of the directors.
Source
newspapers
Newspaper Articles (13)
1.July 19, 1913The Topeka State JournalTopeka, KS
Click image to open full size in new tab
Article Text
GEORGIA BANK CLOSED Capital and Surplus Wiped Out-Examiner Takes Charge. Washington. July 19.-The First National bank of Lafayette, Ga., failed today on account of a large shortage in its funds. Announcement was made today by Thomas P. Kane. acting comptroller of the currency, who appointed National Bank Examiner Thomas C. Dunlap temporary receiver. The extent of the loss is not yet known, but the situation will be reported to the department of justice. Examiner Dunlap discovered the shortage yesterday and closed the bank today with the authority and approval of the directors. The examiner has reported the institution insolvent, with its capital and surplus of $58,500 being entirely wiped out.
2.July 19, 1913The Fargo Forum and Daily RepublicanFargo, ND
Click image to open full size in new tab
Article Text
SHORTAGE CAUSES FAILURE First National Bank at Lafayette, Ga., Failed Acting Compiroller Kane Issued Official Announcement Surplus and Capital of $50,000 Entirely Wiped Out Washington, July 19. - The First National bank of Lafayette, Ga., failed today on account of a large shortage in funds, the announcement being made by Thomas P. Kane, acting comptroller, who has appointed National Bank Examiner Thomas C. Dunlop as temporary receiver. The extent of the losses is not known, but the situation will be reported to the department of justice. Dunlop discovered the shortage yesterday and closed the bank today with the authority and approval of the directors. He reported the institution insolvent, with the capital and surplus of over $50,000 entirely wiped out.
3.July 19, 1913The Daily TelegramClarksburg, WV
Click image to open full size in new tab
Article Text
MONEY ALL GONE BANK IS CLOSED Discovery of Its Shortage ReNO APPEAL sults in That Action by An Examiner. (BY ASSOCIATED PRESS, By Secretary MeAdoo and WASHINGTON, July 19.-The First National Bank of Lafayette, Ga., failed Treasury Must Surrender today on account of a large shortage $3,000,000 as Result. in its funds. Announcement was (BY ASSOCIATED PRESS) made today by Thomas P. Kane, actWASHINGTON, July 19.-Secretary ing comptroller of the currency, who McAdoo today decided not to appeal has appointed National Bank Examthe decision of the customs court iner Thomas C. Dunlap, temporary granting free entries of wood pulp receiver. The extent of the losses is and paper to all nations having "favnot yet known but the situation will ored nations" treaties with the Unibe reported to the department of justed States because that privilege is tice. granted to Canada. The treasury deExaminer Dunlap discovered the partment must surrender $3,000,000 shortage yesterday and closed the in duties. bank today with the authority and approval of the directors. The examiner has reported the institution FIELD GUNS insolvent with its capital and surplus of $58,500 being entirely wiped out. Cantured Are Repaired and
4.July 19, 1913Atlanta GeorgianAtlanta, GA
Click image to open full size in new tab
Article Text
SHORTAGE AT LA FAYETTE TO EXCEED $30,000 First National Closed by Order of Federal Comptroller of Currency. WASHINGTON, July 19.Acting Comptroller of the Currency Kane to-day announced that the First National Bank, of Lafayette, Ga., has been closed by National Bank Examiner Thomas C. Dunlap, with the authority of the board of directors, on account of a large shortage which makes the bank involvent. Mr. Kane says he has not received a detailed report of the condition of the bank. Mr. Dunlap has been appointed receiver. "We do not know how big the defalcation may be." said Mr. Kane, "but our preliminary examination has shown that it is not less than $30,000. This shortage has occurred since May 23, when the bank was last examined. Suspicion on the part of officers of the bank several days ago that a shortage existed caused them to call in Examiner Dunlap. Discovery of the embezzlement resulted. "In his telegraphic advices to me Mr. Dunlap does not say to whom suspicion attaches. The last statement of the condition of the bank, issued on June 4, showed the bank to be in a proper state. The president of the bank is R. N. Dickerson, and S. A. Hunt, Jr., is cashier." In a telegram from Mr. Dunlap Mr. Kane is advised that steps have been taken to make an arrest.
5.July 19, 1913Newark Evening Star and Newark AdvertiserNewark, NJ
Click image to open full size in new tab
Article Text
CLOSES DOORS OF BANK AFTER GOVERNMENT PROBE WASHINGTON July 19.-The First National Bank of Lafayette, Georgia, failed today on account of a large shortage in its funds. Announcement was made today by Thomas P. Kane, acting comptroller of currency, who has appointed National Bank Examiner Thomas C. Dunlap temporary receiver. The extent of the losses is not yet known, but the situation will be reported to the Department of Justice. Examiner Dunlap discovered the shortage yesterday and closed the bank today with the authority and approval of the directors. The examiner has reported the institution insolvent with its capital and surplus of $58,000 being entirely wiped out.
6.July 20, 1913Tulsa Daily WorldTulsa, OK
Click image to open full size in new tab
Article Text
GEORGIA BANK HAS CLOSED ITS DOORS LARGE SHORTAGE IN FUNDS IS CAUSE ASSIGNED for RECEIVERSHIP. WASHINGTON, July 19.-The First National bank of Lafayette, Ga., failed today on account of a large shortage 1.1 its funds. This announcement was made by Thomas P. Kane, acting comptroller of the currency, who has anpointed National Bank Examiner Thomas C. Dunlap as temporary receiver. Examiner Dunlap discovered the shortage vesterday and closed the bank todav with the approval of the directors. The examiner has reported the institution insolvent, its capital and surplus of $58,000 being entirely wiped out.
7.July 20, 1913Atlanta GeorgianAtlanta, GA
Click image to open full size in new tab
Article Text
Comptroller of Currency Orders Institution Closed When Defalcation Is Discovered. ARRESTS ARE LIKELY Preliminary Examination Shows That It Has Been Looted of Not Less Than $30,000. WASHINGTON, July 19.-Acting Comptroller of the Currency Kane today announced that the First National Bank of Lafayette, Ga., has been closed by National Bank Examiner Thomas C. Dunlap, with the authority of the board of directors, on account of a large shortage which makes the bank insolvent. Mr. Kane says he has not received a detailed report of the condition of the bank. Mr. Dunlap has been appointed receiver. "We do not know how big the defalcation may be," said Mr. Kane, "but our preliminary examination has shown that It is not less than $30,000. This shortage has occurred since May 23, when the bank was last examined. Suspicion on the part of officers of the bank several days ago that a shortage existed caused the to call in Examiner Dunlap. Discovery of the embbezzlement resulted. "In his telegraphic advices to me Mr. Dunlap does not say to whom suspicion attaches. The last statement of the condition of the bank, issued on June 4, showed the bank to be in a proper state. The president of the bank is R. N. Dickerson, and S. A. Hunt, Jr., is cashier." In a telegram from Mr. Dunlap Mr. Kane is advised that steps have been taken to make an arrest.
8.July 20, 1913Atlanta GeorgianAtlanta, GA
Click image to open full size in new tab
Article Text
Comptroller of Currency Orders Institution Closed When Defalcation Is Discovered. ARRESTS ARE LIKELY Preliminary Examination Shows That It Has Been Looted of Not Less Than $30,000. WASHINGTON, July 19.-Acting Comptroller of the Currency Kane today announced that the First National Bank of Lafayette, Ga., has been closed by National Bank Examiner Thomas C. Dunlap, with the authority of the board of directors, on account of a large shortage which makes the bank insolvent. Mr. Kane says he has not received a detailed report of the condition of the bank. Mr. Dunlap has been appointed receiver. "We do not know how big the defalcation may be," said Mr. Kane, "but our preliminary examination has shown that it is not less than $30,000. This shortage has occurred since May 23, when the bank was last examined. Suspicion on the part of officers of the bank severa] days ago that a shortage existed caused the n to call in Examiner Dunlap. Discovery of the embbezzlement resulted. "In his telegraphic advices to me Mr. Dunlap does not say to whom suspicion attaches. The last statement of the condition of the bank, issued on June 4, showed the bank to be in a proper state. The president of the bank is R. N. Dickerson, and S. A. Hunt, Jr., is cashier." In a telegram from Mr. Dunlap Mr. Kane is advised that steps have been taken to make an arrest.
9.July 20, 1913Atlanta GeorgianAtlanta, GA
Click image to open full size in new tab
Article Text
SHORTAGE HITS NATIONAL BANK AT LAFAYETTE Comptroller of Currency Orders Institution Closed When Defalcation Is Discovered. ARRESTS ARE LIKELY Preliminary Examination Shows That It Has Been Looted of Not Less Than $30,000. WASHINGTON, July 19.-Acting Comptroller of the Currency Kane today announced that the First National Bank of Lafayette, Ga., has been closed by National Bank Examiner Thomas C. Dunlap, with the authority of the board of directors, on account of a large shortage which makes the bank insolvent. Mr. Kane says he has not received a detailed report of the condition of the bank. Mr. Dunlap has been appointed receiver. "We do not know how big the defalcation may be," said Mr. Kane, "but our preliminary ex.mination has shown that it is not less than $30,000. This shortage has occurred since May 23, when the bank was last examined. Suspicion on the part of officers of the bank several days ago that a shortage existed caused the n to call in Examiner Dunlap. Discovery of the embbezzlement resulted. "In his telegraphic advices to me Mr. Dunlap does not say to whom suspicion attaches. The last statement of the condition of the bank, issued on June 4, showed the bank to be in a proper state. The president of the bank is R. N. Pickerson, and S. A. Hunt, Jr., is cashier." In a telegram from Mr. Dunlap Mr. Kane is advised that steps have been taken to make an arrest.
10.July 20, 1913Atlanta GeorgianAtlanta, GA
Click image to open full size in new tab
Article Text
Comptroller of Currency Orders Institution Closed When Defalcation Is Discovered. ARRESTS ARE LIKELY Preliminary Examination Shows That It Has Been Looted of Not Less Than $30,000. WASHINGTON, July 19.-Acting Comptroller of the Currency Kane today announced that the First National Bank of Lafayette, Ga., has been closed by National Bank Examiner Thomas C. Dunlap, with the authority of the board of directors, on account of a large shortage which makes the bank insolvent. Mr. Kane says he has not received a detailed report of the condition of the bank. Mr. Dunlap has been appointed receiver. "We do not know how big the defalcation may be," said Mr. Kane, "but our preliminary examination has shown that it is not less than $30,000. This shortage has occurred since May 23, when the bank was last examined. Suspicion on the part of officers of the bank several days ago that a shortage existed caused then to call in Examiner Dunlap. Discovery of the embbezzlement resulted. "In his telegraphic advices to me Mr. Dunlap does not say to whom suspicion attaches. The last statement of the condition of the bank, issued on June 4, showed the bank to be in a proper state. The president of the bank is R. N. Dickerson, and S. A. Hunt, Jr., is cashier." In a telegram from Mr. Dunlap Mr. Kane is advised that steps have been taken to make an arrest.
11.July 20, 1913Atlanta GeorgianAtlanta, GA
Click image to open full size in new tab
Article Text
Comptroller of Currency Orders Institution Closed When Defalcation Is Discovered. ARRESTS ARE LIKELY Preliminary Examination Shows That It Has Been Looted of Not Less Than $30,000. WASHINGTON, July 19.-Acting Comptroller of the Currency Kane today announced that the First National Bank of Lafayette, Ga., has been closed by National Bank Examiner Thomas C. Dunlap, with the authority of the board of directors, on account of a large shortage which makes the bank insolvent. Mr. Kane says he has not received a detailed report of the condition of the bank. Mr. Dunlap has been appointed receiver. "We do not know how big the defalcation may be," said Mr. Kane, "but our preliminary examination has shown that it is not less than $30,000., This shortage has occurred since May 23, when the bank was last examined. Suspicion on the part of officers of the bank several days ago that a shortage existed caused the n to call in Examiner Dunlap. Discovery of the embbezzlement resulted. "In his telegraphic advices to me Mr. Dunlap does not say to whom suspicion attaches. The last statement of the condition of the bank, issued on June 4, showed the bank to be in a proper state. The president of the bank is R. N. Dickerson, and S. A. Hunt, Jr., is cashier." In a telegram from Mr. Dunlap Mr. Kane is advised that steps have been taken to make an arrest.
12.July 20, 1913Atlanta GeorgianAtlanta, GA
Click image to open full size in new tab
Article Text
SHORTAGE IN BANK MAY PASS $30, 000 First Estimate of Lafayette Institution's Loss Believed Short. Early Arrests Are Likely. CHATTANOOGA, July 19.-The failure to find notes approximating $30,000, which were in the bank 60 days ago, but are not now accounted for by the officials of the bank, caused National Bank Examiner Thomas C. Dunlap to close the doors of the First National Bank at LaFayette, Ga. Mr. Dunlap, who was at once appointed receiver, is now checking up the affairs of the institution. From what he learned of the affairs of the bank, all depositors will be paid off in full, but there is a strong probability that the stockholders will get little, if anything, in the final wind-up. The bank is capitalized at $50,000, with liabilities of $240,000 and assets above $200,000. So far as can be learned, no charges have been made against any officials of the bank and these familiar with the situation are inclined to the belief that the trouble came about as the result of carelessness in the management of some portions of the work in connection with the institution. The loss of the nearly $30,000 in notes, however, continues to be an unsolved mystery, as no one seems to know where they are or how they came to disappear. There is a possibility that they may be found deposited as collateral with some other bank and no record made in the LaFayette institution.
13.July 20, 1913Evening StarWashington, DC
Click image to open full size in new tab
Article Text
SHORTAGE IN BANK FUNDS. Announcement Made of Failure of First National of Lafayette, Ga. The First National Bank of Lafayette, Ga., failed yesterday on account of a large shortage in its funds. Announcement was made by Thomas P. Kane, acting controller of the currency, who has appointed National Bank Examiner Thomas C. Dunlap temporary receiver. The extent of the losses is not yet known, but the situation will be reported to the Department of Justice. Examiner Dunlap discovered the shortage Friday and closed the bank yesterday with the authority and approval of the directors. The examiner has reported the institution insolvent, its capital and surplus of $58,500. being entirely wiped out.
