2628. Bank of Abbeville (Abbeville, GA)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
March 14, 1898
Location
Abbeville, Georgia (31.992, -83.307)

Metadata

Model
gpt-5-mini
Short Digest
0e7f1941

Response Measures

Full suspension

Other: Assignment (appointment of assignee/receiver) and reports of wrong safe combination; cashier traveled to record papers.

Description

Multiple contemporaneous newspaper dispatches (dated March 14–16, 1898) report the Bank of Abbeville assigned (assignee/receiver appointed, safe unopened). Local accounts state the assignment followed a heavy run by time depositors withdrawing funds before maturity; papers describe an assignee/receiver being named (Max E. Lang/Land/Lund variants). There is a single run event described that precipitated the assignment/receivership. Some reports assert assets sufficient to pay and claim the bank will resume, but no evidence of actual reopening is provided in these articles, so I classify as suspension leading to closure/receivership.

Events (3)

1. March 14, 1898 Receivership
Newspaper Excerpt
The Bank of Abbeville assigned today ... Max E. Lang was appointed assignee. The safe has not yet been opened and it is said the wrong combination has been given.
Source
newspapers
2. March 14, 1898 Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals by time depositors drawing interest before maturity (liquidity run on bank)
Measures
None reported beyond making an assignment/appointing an assignee
Newspaper Excerpt
Mr. Mehegan says that the cause of the assignment was due to a heavy run on the bank by time depositors, who were drawing interest on these deposits, and whose time for withdrawal was not due till the first of July.
Source
newspapers
3. March 14, 1898 Suspension
Cause Details
Bank made an assignment (appointment of assignee/receiver) following the heavy withdrawals; safe unopened and assignee named
Newspaper Excerpt
The Bank of Abbeville assigned today. President J. J. Mehagan was absent at the time of the assignment ... Max E. Lang was appointed assignee. The safe has not yet been opened.
Source
newspapers

Newspaper Articles (11)

Article from The Record-Union, March 15, 1898

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Article Text

Bank Failure in Georgia. ABBEVILLE (Ga.), March 14.-The Bank of Abbeville assigned to-day. President J. J. Mehagan was absent at the time of the assignment, and the cashier, H. T. Latham, left on a train for Savannah immediately after the assignment. Max Eland was appointed assignee. The safe has not yet been opened as the wrong combination has been given: There is much indignation among the people here.


Article from The Indianapolis Journal, March 15, 1898

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Bank of Abbeville Closed. ABBEVILLE, Ga., March 14.-The Bank of Abbeville assigned to-day. President J. G. Mehegan was absent at the time of the assignment, and the cashier, H. T. Latham, left on a train for Savannah immediately after the assignment. Max E. Lang was appointed assignee. The safe has not yet been opened and it is said the wrong combination has been given. There is much indignation among the people here.


Article from The Houston Daily Post, March 15, 1898

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Article Text

SHORT NEWS STORIES SAN FRANCISCO,-Benjamin Cluff. Jr., just returned from Hawaii, says the natives favor annexation, as they prefer the United States to their present government. PROVIDENCE. R. I.-The democratic State convention nominated Hon. Daniel Church of Liverton for governor and a full State ticket. NEW YORK -Memorial services for the Japanese who lied on the Maine were held Sunday at the Japanese club in Brooklyn. NEW YORK.-All wonten and children have been ordered away from Sandy Hook. where rapid progrees is being made on the defenses for New York harber ATLANTA, Ga. -Orth Stein, a newspaper man. was badly worsted by City Judge Berry In the public dining room of the Kimball house, creating great excitement ABEEVILLE, Ga.-The Bank of Abbeville has assigned. President Geiger was absent at the time of the assignment, and the cashier, H. T. Latham. left on a train for Savanuah immediately after the assignment. MEMPHIS, Tenn.-William Foley was in. starty killed and Henry Schaake, James Bolen and John Fisher seriously injured by a cave-in at South Memphis. LITTLE ROCK, Ark.-At a meeting of the Arkaneas board of the Omaha exposition commissioners It was decided to reproduce the a famius Albert Pike mansion of this city as State building at the exposition. ST. LOUIS Chairman Sam Cook of the democratic State committee has issued 1e call for the State convention, to be held at Sprinkfield, August 10. CHIARLOTTESVILLE V'a.-General John Walls Kearney and Miss Elizabeth Montgomery were married at the residence of Mrs. Green Payton, near here. General and Mrs. Kearney left for New York. NEW YORK.-The board of managers of the New York cotton exchange will prohibit the publication of advertisements reading 'money to be sent as margin for operating In dis. crclionary orders. GREENVILLE Miss C. W. Huntley, a special detective for the illinois Central TALLroad, that and killed Henry C. Farley at Le. land. Miss. It seems to have been , CASE of solt-defeuse. TAUNTON Mass. The 1100 operatives of the Whittenton cotton mills returned to work after a strike lasting five weeks. CUATTANOOCA. Tenn. -The union conference of railway traismen in session here since Saturday Dan adjourned. Chief Arthar of the Brotherhood of Locomotive Engineers stated that meetings similar to that held here would be inadpurated all over the country. ATLANTA. Ga.--Hon. W. J. Bryan spoke here in the Auditorium to 10.000 people. His address was along his usual line or argument.


Article from The Salt Lake Herald, March 15, 1898

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Article Text

SUSPICIOUS BANK FAILURE. Cashier Left On a Train Right After Assignment. Abbeville, Ga., March 14.-The Bank of Abbeville assigned today. President J. J. Mehagan was absent at the time of the assignment and the cashier, H. T. Latham, left on a train for Savannah after the assignment. Max Land was appointed assignee. The safe has not yet been opened and it is said the wrong combination has been given. There is much indignation among the people. here.


Article from The Saint Paul Globe, March 15, 1898

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ABBEVILLE, Ga., March 14.-The Bank of Abbeville assigned today. President J. J. Mehagan was absent at the time of the assignment, and the cashier, H. T. Latham. left on a train for Savannah immediately after the assignment. Max E. Land was appointed receiver.


Article from The News & Observer, March 16, 1898

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HAVE NOT ABSCONDED THE CASHIER AND PRESIDENT OF ABBEVILLE, GA., BANK ALL RIGHT. The President Resides at Tarboro and Denies Report of Flight -Says the Bank Will Pay Out. Tarboro, N. C., March 15.-(Special.)Judge Phillips lost a large barn on his Knightland farm Tuesday morning at four o'clock. All this farming implements on this farm were destroyed. It was incendiarism. Judge Philips estimates his loss at $1,000; he had no insurance. In yesterday's edition of the News and Observer was a dispatch taken from the Telegraph of Macon, Ga., stating that the bank of Abbeville, Ga., had been closed and that the cashier had left for parts unknown. It also stated that the cashier had made an assignment of the wrong combank, bination and to before the bank he left, safe the had been purposely given to the assignee. This artiele concluded by saying that orders of arrest had been sent out for the cashier H. T. Latham and the president, J. G. Mehegan. It is a fact that the bank has made an assignment, but it is not a fact that one cashier or the president have absconded. Mr. Latham and Mr. Mehegan are both from this county. Mr. Latham is now residing in Abbeville, and has charge of the bank of Abbeville, of which Mr. Mehegan, who is men left young resides here, here president. several months These ago. two and went to Abbeville and bough't out the bank of Abbeville. Mr. Mehegan, of Tarboro, informs your correspondent that the statement as made in the Telegraph is untrue. Soon after the assignment papers were written, Mr. Latham left Abbeville for Atlanta to have them recorded, and his absence on business was heralded over the country, as fleeing from prosecution. Mr. Mehegan says that the cause of the assignment was due to a heavy run on, the bank by time depositors, who were drawing interest on these deposits, and whose time for withdrawal was not due till the first of July. He says that there are sufficient assets to pay off all the indebtedness of the bank, and this will be done within the next thirty days. when the bank will resume business as before.


Article from The Red Cloud Chief, March 18, 1898

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Article Text

Bank Falls, Its Officers Leave ABBEVILLE, Ga., March 16. -The Bank of Abbeville assigned to-day. President J. J. Mehagen was absent at the time of the assignment and the cashier, H. T. Latham, left on a train for Savannah immediately after the assignment.


Article from The Semi-Weekly Messenger, March 18, 1898

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NOT FUGITIVES FROM JUSTICE. President Mehegan, of the A beville Bank, Denies the Charges Against Him and Cashier Latham-Incendiary Fire Noar Tarboro (Special to The Messenger.) Tarboro, N. C., March 15.-Judge Phillips lost a large barn on his Knightland farm Tuesday morning at 4 o'clock. All this farming implements on this farm were destroyed. It was an incendiary fire. Judge Phillips estimates his loss at $1,000. He had no insurance. In yesterday's edition of The News and Observer was a dispatch taken from The Telegraph, of Macon, Ga., stating that the Bank of Abbeville, Ga., had been closed and that the cashier had left for parts unknown. It also seemed that the cashier had made an assignment of the bank, and before he left the wrong combination to the bank safe had been purposely given to the assignee. This article concluded by saying that orders of arrest had been sent out for the cashier, H. T. Latham, and the president, J. G. Mehegan. It is a fact that the bank has made an assignment, but it is not a fact that the cashier or the president have abseconded. Mr. Latham and Mr. Mehegan are both from this county. Mr. Latham is now residing in Abbeville, and has charge of the bank of Abbeville, of which Mr. Mehegan, who resides here, is president. These two young men left here several months ago and went to Abbeville and bought out the bank of Abbeville. Mr. Mehegan, of Tarboro, informs your correspondent that the statement as made in The Telegraph is untrue. Soon after the assignment papers were written, Mr. Latham left Abbeville for Atlanta to have them recorded, and his absence on business was heralded over the country as fleeing from prosecution. Mr. Mehegan says that the cause of the assignment was due to a heavy run on the bank by time depositors who were drawing interest on these deposits, and whose time for withdrawal was not due until the 1st of July. He says that there are sufficient assets to pay off all the indebtedness of the bank and this will be done within the next thirty days, when the bank will resume business as before.


Article from Reporter and Farmer, March 24, 1898

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Otherwise. Spanish-American sailors* are deserting in order to avoid fighting Spain. The steamer Noyo has left Seattle river. Alaska, with and a large amount sengers for Copper of 200 freight. pasof the delay in issuing the loan has been Chinese The cause removed boerse by the committee of the German granting it official quotation. The Fourth National Bank of Philadelphia has $330,000 in gold engaged of for import. This makes the total the present engagements by all importers $21,825,000. Gov. Russell of North Carolina rea message from how many ceived Kinley asking President troops Me- the state could furnish in case of hostilities. The reply of the governor gave 245,000 as the number. The call for the Indiana State Prohibition convention. May 24-5, has the on apportionment of delegates based the combined vote in the last presidential election for Levering and for Bently. The Third National Bank of St. Louis has been approved as a reserve agent for the National Germ an-AmeriBank of St. Paul: also the Flour can City National Bank of Minneapolis for the First National Bank of Pierre, D. Everything is astir and bustle at the yard at Vallejo, Cal. Hundreds the navy of workmen are being added te usual force to rush the work of preparing the Charleston, Philadelphia, for Hartford, Pensocola and Adams service. Articles of incorporation of the American Thread company. with an authorized stock capital of $12,000,000, were at filed with the secretary of state Trenton, N. J. The incorporators are: ErPeter Lowe, Charles N. King and nest F. Charles, all of Jersey City. Counsel for Edna Wallace Hopper at had been prepared in an action for divorce. New said Wolf that Hopper York papers against Counsel the act- de- De clined to say on what grounds would be based, but intimated that ion it would not be the statutory ground. The resignation of eight trustees of Fifth Avenue Presbyterian church, the which the Rev. Dr. John Hall is of were accepted by the church, from recently. pastor. The resignations were Francis John Sloane. J.J. McCook, E. L. James R. Jessup. Henry Barnes Hyde. Smith. Malcolm Graham, H. B. and Alexander Macom. Dr. William H. Maxwell. borough Brooksuperintendent of schools in of was elected superintendent of lyn, of New York by the board its education. schools which received through cotification committee official S. special the refusal of President Andrew to of Draper of the University of Illinois, accept the place. The Bank of Abbeyville, Ga., has assigned. President J. J. Mehagan assignabsent at the time of the was and the cashier, H. T. Latham, train for Savannah the assignment. left ment. ately en after a assignee. immedi- Max The E. Lund was appointed it is has not been opened. and been safe said the wrong combination has given. examination of the business of The City, S. D., land office. with will a Rapid to removing it to deadwood. Land view done for some time. Commissioner not be Hermann has received Green. letter from Special Agent work, a was detailed to perform the to who that he will not be able three saying Rapid City for at least that reach It is probable, therefore, for nothing weeks. will be done in the matter a month at the earliest. Commissioner Hermann has of Land a letter to Superintendent cutting Logging written Rosa, in charge of the the Indead and down timber on him of reservations, cautioning in the alan allowing any laxity Although against of that work. there prosecution will not admit that amount Hermann been any falling off in the that has work performed, it is estimated so of late reports do not show up first the those rendered for the were month well as or two after operations begun. veterans of the civil war living offer The Oakland, Cal., have decided to the in services of a full company to with the in the event of war been orgovernment Spain. A company of 100 has ganized. A Lost Opportunity.


Article from The Princeton Union, March 24, 1898

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merous medical and scientific works. Otherwise. Spanish-American sailors are deserting in order to avoid fighting Spain. The steamer Noyo has left Seattle for Copper river, Alaska, with 200 passengers and a large amount of freight. The cause of the delay in issuing the Chinese loan has been removed by the committee of the German boerse granting it official quotation. The Fourth National Bank of Philadelphia has $330,000 in gold engaged for import. This makes the total of the present engagements by all importers $21,825,000. Gov. Russell of North Carolina received a message from President McKinley asking how many troops the state could furnish in case of hostilities. The reply of the governor gave 245,000 as the number. The call for the Indiana State Prohibition convention, May 24-5, has the apportionment of delegates based on the combined vote in the last presidential election for Levering and for Bently. The Third National Bank of St. Louis has been approved as a reserve agent for the National Germ an-American Bank of St. Paul; also the Flour City National Bank of Minneapolis for the First National Bank of Pierre, S. .D. Everything is astir and bustle at the navy yard at Vallejo, Cal. Hundreds of workmen are being added to the usual. force to rush the work of preparing the Charleston, Philadelphia, Hartford, Pensocola and Adams for service. Articles of incorporation of the American Thread company, with an authorized stock capital of $12,000,000, were filed with the secretary of state at Trenton, N. J. The incorporators are: Peter Lowe, Charles N. King and Ernest F. Charles, all of Jersey City. Counsel for Edna Wallace Hopper said had at that York papers in action been against prepared New an De Wolf Hopper for divorce. Counsel declined to say on what grounds the action would be based, but intimated that it would not be the statutory ground. The resignation of eight trustees of the Fifth Avenue Presbyterian church, of which the Rev. Dr. John Hall is pastor. were accepted by the church, recently. The resignations were from John Sloane, J. J. McCook, E. Francis Hyde, James R. Jessup, Henry L. Smith, Malcolm Graham, H. B. Barnes and Alexander Macom. Dr. William H. Maxwell, borough of superintendent was schools superintendent in Brooklyn, elected s of schools New York by of which its education, of received the through board special committee official notification of the refusal of President Andrew S. Draper of the University of Illinois, to accept the place. The Bank of Abbeyville, Ga., has assigned. President J. J. Mehagan was absent at the time of the assignment, and the cashier, H. T. Latham, left on a train for Savannah immediately after the assignment. Max E. Lund was appointed assignee. The safe has not been opened, and it is said the wrong combination has been given. The examination of the business of S. D., land a Rapid to City, removing deadwood, office, with view it to will not be done for some time. Land Commissioner Hermann has received a letter from Special Agent Green, who was detailed to perform the work, saying that the will not be able to reach Rapid City for at least three weeks. It is probable, therefore, that nothing will be done in the matter for a month at the earliest. Land Commissioner Hermann has written a letter to Superintendent of Logging Rosa, in charge of the cutting of dead and down timber on the Indian any of that prosecution against reservations, allowing work. cautioning laxity Although in him the will not has Hermann been any falling admit off estimated in the that amount there of it is do so the work late performed, reports not for show the up first that well as those rendered month or two after operations were begun. The veterans of the civil war living in Oakland, Cal., have decided to offer the services of a full company to the in the event war A orSpain. government company of 100 of has been with ganized. A Lost Opportunity. Homey She said abs woon't nonfeet


Article from The Pioneer Press, March 24, 1898

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Otherwise. deare serting Spanish- in American order to sallors avoid tighting Spain. steamer Noyo has with left 200 Seattle pasfor The Copper river. large Alaska, amount of freight. the sengers cause and a of the delay removed in issuing by the granting it official Chinese committee The loan of has the been quotation. German of boerse PhilThe Fourth $330,000 National in Bank gold engaged of adelphia has This makes the total all imthe for import. present engagements by porters $21,825,000. North Carolina reRussell of President MeGov. message from troops the ceived a asking how many case of hostilistate Kinley could The reply furnish of the in governor gave 245,000 ties. as the number. Procall for the Indiana State has the The convention. May 24-5. based on hibition of delegates presidenapportionment vote in the last and for the tial combined election for Levering Bently. Third National Bank a reserve of St. The has been approved Germ as an-AmeriLouis for the National also the Flour can agent Bank of St. Bank Paul: of Minneapolis S.D. for City the National First National Bank of Pierre. the Everything is astir and Cal. bustle Hundreds at yard at Vallejo, being added to the navy of workmen are the work of preusual force to Charleston, rush Philadelphia. Adams for paring Hartford, the Pensocola and service. of incorporation of an the author- AmerArticles Thread company. with were ican stock capital of $12,000,000. of state at ized the secretary are: filed with J. The incorporators and Er. Trenton, N. Charles N. King City. nest Peter F. Lowe, Charles, all of Jersey for Edna Wallace prepared Hopper at Counsel papers had been De said that in an action against Counsel de New Hopper York for divorce. the act Wolf to say on what grounds intimated clined be based. but statutory that on would it would not be the of ground. resignation of eight trustees church, The Avenue Presbyterian Hall is the which Fifth the Rev. Dr. John the church, of were accepted by were from pastor. The resignations E. Francis recently. J. J. McCook, L. John Sloane. R. Jessup. Henry Barnes Hyde, Smith. James Malcolm Graham, H. B. and Alexander Macom. Dr. William H. schools Maxwell. in borough Brooksupe pr intendent elected of superintendent board of of lyn. was of New York by the through its schools which received notification education. committee official Andrew S. special refusal of President Illinois, to of Draper the of the University of accept the place. has Dank of Abbeyville, Mehagan Ga.. The President J. J. the assignassigned. absent at the time of Latham, was and the cashier, H. T. immediment, train for Savannah Max E. left ately on after a the assignment. assignee. The Lund was appointed been opened. and it is said safe the has wrong not combination has been given. examination of the business with of a The City, S. D., land office. will Rapid to removing it to deadwood. time. Land view done for some received not Commissioner be Hermann has Green. from Special Agent the work. a letter was detailed to perform be able to who that he will not least three saying Rapid City for at that reach It is probable. therefore. matter for nothing weeks. will be done in the a month at the earliest. Commissioner Hermann has of Land letter to Superintendent the cutting written Logging a Rosa. down in charge timber of on the him Inof dead reservations. and cautioning in the dian allowing any laxity Although against of that work. that there prosecution will not admit amount Hermann falling off in the that has been performed. any it is estimated up so of work reports do not show the first the late rendered for were month well as or those two after operations begun.