251. First National Bank (Selma, AL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
1537
Charter Number
1537
Start Date
*
Location
Selma, Alabama (32.407, -87.021)

Metadata

Model
gpt-5-mini
Short Digest
7bf707f4

Response Measures

None

Description

Articles recount a historical collapse of the First National Bank associated with John M. Parkman (arrest/escape and disappearance). No explicit contemporaneous run is described; the bank was taken into custody by federal officer/soldiers and collapsed, implying permanent failure/closure. Year of collapse not specified in the excerpts; bank founding year 1866 is mentioned.

Events (2)

1. * Receivership
Newspaper Excerpt
the Federal general, Wager Swayne, arbitrarily ordered an officer to take squad of soldiers, arrest Parkman, put him in the jail at Cahaba and assume custody over the bank and its funds.
Source
newspapers
2. * Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank got into difficulties (cotton price collapse) and was placed into custody by federal authorities; institution collapsed.
Newspaper Excerpt
following the collapse of the First National Bank, and the supposed death by drowning of its President, John M. Parkman
Source
newspapers

Newspaper Articles (2)

Article from The Selma Times-Journal, November 2, 1927

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Article Text

Parkman Case Still Unsolved After 61 Years Speculation: Did Fugitive Escape With Life Stories Of Bold Jail Break Differ; Banker Cleared Of Blame The Parkman tragedy. following the collapse of the First National Bank, and the supposed death by drowning of its President, John M. Parkman while making his escape from the jail at Cahaba, was one of the most regretted incidents in the alstory of Dallas county. and was ttended by mysterious circumiances that gave rise to many fanastic stories, the truth of which never learned. Did Parkman drown, was he killby the shots that were said to ave been fired at him as he ran awn the river bank to the steamer at It was said his royal friends id placed there to take him away. did he really escape? The body never was found. and questions remain unanswered to is day Parkman was the son of Elias rkman. who came here from assachusetts in the early days of Ima. and conducted not only plantation by mercantile busfunder the name of Parkman Miller in-the days of 1836. Starts First Bank Having gained banking experlence in the private banking house or Charles Lewis. John M. Parkman *1866 started the first national Bank Selma ever had. with $100.000 capital, represented by, securities deposited with the treasurer of the United States The inaugural of was big event in the city, Mr. Parkman who was warm friend of the present George W"1Nam Lewis of this city. had promlined the then youth an important position in his institution. However. family influence dictated the appointment of brother-inlaw. C. B. Wood as cashier. While suffering disappointment. young Lewis found ample atonement in the sincere regret expressed by Parkman in being forced by circumstances to forego his promise. The bank speedily got into diffisuities. cotton dropping from 30 and 36 cents to 18 and 20. and instead of giving the banker time in which to arrange to cope with the situation. the Federal general. Wager Swayne. arbitrarily ordered an officer to take squad of soldiers. arrest Parkman. put him in the jall at Cahaba and assume custody over the bank and its funds. This was done on the spot. Friends of the banker were instantly aroused. inasmuch many of the leading men of the city had already considered means of pullIng the bank out of its difficulties, and it was the common belief that this would have been accomplished but for the arbitrary action of the General which put stop to their efforts The feeling was such that, according to all accounts, movement was quietly started to rescue Parkman from the juil. Several stories are told as to what happened. First Account One account relates that steamwas engaged to run by the jail at certain hour on the day of the rescue, at which time the rescue party would be in front of the jail with brass band to attract the attention of the crowd and the jall officials and keep them from seeing Parkman as he would run down the bank back of the jail and board the steamer The jail stood about 50 yards from the river bank, with its back door toward the river. In some way, whether or not with the assistance of_ Jailer Comalandier. Parkman got out of the jail and started on run down the river bank toward the steamer One witness now living. B. Evans. the present register in Chancery for Dallas county. who was youth of about eight years at the time. says he was standing on the river bank when he saw Parkman running from the jail with man following who was shooting at him Another Account Another account of the time says It was soldier who was shooting at him, third stating that it was the jailor. and that Colamandier was merely shooting with blanks At any rate, all accounts agreed that Parkman plunged into the river close to the steamer. and was seen more. "Whether or not Mr Parkman was killed by any one of the bullets. or fell under the wheel of the steamer and was killed or drowned, can not be said." says George William Lewis "He was very strong swimmer and would hardly have drowned If one of the two things had not happened." No trace of the body was ever found. and for a long time it was believed by many that Mr. Parkman had successfully got on board the vessel where he was concealed by friends. Belief in this gradually faded however, as the years went by with no further word of the banker Parkman Not Blamed It was found that the funds of the United States in the vault at that time. with the monies of the


Article from The Selma Times-Journal, November 2, 1927

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Article Text

THI TIMES-JOURNAL Rufus Is Sent To Dominic's For A Pound Of His Special New Ice In 1840 Parkman Case Still Unsolved After 61 Years Speculation: Did Fugitive Escape With Life Stories Of Bold Jail Break Differ; Banker Cleared Of Blame The Parkman tragedy, following the of the First National Bank, and the supposed death Parkman while making his escape from the jall at Cahaba, was one of the most regretted Incidents in the history of Dallas county. and ttended by mysterious circumtances that gave rise to many fanastic stories. the truth of which as never Did Parkman drown was he kill by the shots that were said to ave been fired at him as he ran own the river bank to the steamer at It was said his royal friends ad placed there to him away. did he really escape? The body never was found. and questions remain to day Parkman was the son of Elias came here from the days of Ima. and conducted not only by busiunder the name of Parkman and Miller the days of 1836 Starts First Bank Having gained banking experience in the private house of Charles Lewis. John M. Parkman fn 1866 started the first national bank Selma ever had. with $100.000 capital, by securities deposited with the treasurer of the United States The inaugural of the bank was: big event in the city, and Mr Parkman who was a warm friend of the present George WilMam Lewis of this city. had promIsed the then youth an important position in his institution However, family influence dictated the nppointment of law. C. B. Wood as cashier. While suffering young Lewis found ample atonement in the sincere regret expressed by Parkman in being forced by cumstances to his The bank speedily got into diffieulties dropping from 30 and 35 cents to 18 and 20. and instead of giving the banker time in which arrange cope with the situation. the Federal general. Wager Swayne. arbitrarily ordered an officer to take squad of soldiers. arrest Parkman. put him in the jall at Cahaba and assume custody over the bank and its funds. This was done on the spot Friends of the banker were instantly aroused. inasmuch as many of the leading men of the city had already considered of pulling the bank out of its difficulties, and was the belief that this would have been accomplished but for the arbitrary action of the General which put stop to their efforts The feeling was such that, according all accounts, movement quietly started to rescue Parkman from the jail. Several stories are told as to what happened First Account One account relates that steamwas engaged to run by the jail at certain hour on the day of the rescue, at which time the rescue party would be in front of the jail with brass band to attract the at. tention of the crowd and the jail officials and keep from seeing Parkman as he run down the bank back of the jail and board the steamer The jail stood about 50 yards the river bank, with Its back door the river In some way, whether or not with the assistance of Jailer Comalandier Parkman got out of the jail and started on run down the river toward the steamer One witness. new living. B. Evans, the present register in Chancery for Dallas county. who was youth of about eight years at the time. says he was standing on the river bank when he saw Parkman running from the jail with man following was shooting at him Another Account Another account of the time says was soldier who was shooting at him, third stating that it was the jailor. that Colamandier was merely shooting with blanks At any rate, all accounts agreed that Parkman plunged into the river close to the steamer. and was seen no more "Whether not Mr. Parkman was killed by any one of the bullets, or fell under the of the steamer and was killed or can not be said,' says George William Lewis "He was very strong swimmer and would hardly have drowned if one of the two things had not happened.' No trace of the body was ever found. and for long time it was believed by many that Mr. Parkman had successfully got on board the vessel where he was concealed by friends Belief in this gradually faded however, as the years went by with no further word of the banker Parkman Not Blamed It was found that the funds of the United States in the vault at that time. with the monies of the