2635. Milton County Bank (Alpharetta, GA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
August 5, 1926
Location
Alpharetta, Georgia (34.075, -84.294)

Metadata

Model
gpt-5-mini
Short Digest
75e45f18

Response Measures

None

Description

Articles (Aug 5–6, 1926) report the Milton County Bank of Alpharetta was closed by the state banking department. Closure appears linked to the failure/receivership of Bankers' Trust of Atlanta, which acted as fiscal agent for a chain of small banks. No run is described in the articles.

Events (1)
1. August 5, 1926 Suspension
Cause
Correspondent
Cause Details
Closed by state banking department after the Bankers' Trust company of Atlanta (fiscal agent for the chain) went into receivership, affecting this affiliated bank.
Newspaper Excerpt
The Milton county bank of Alpharetta, Ga., a member of the chain of banks for which the Bankers Trust company of Atlanta was acting fiscal agent, closed yesterday, it is announced by the state banking department.
Source
newspapers

Newspaper Articles (2)
1. August 6, 1926 New Britain Herald New Britain, CT
Article from New Britain Herald, August 6, 1926

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Article Text

Another Georgia Bank Has to Close Its Doors Atlanta, Ga., Aug. 6 (AP)The Milton county bank of Alpharetta. Ga., a member of the chain of banks for which the Bankers Trust company of Atlanta was acting fiscal agent, closed yesterday, it is announced by the state banking department. The capital stock of the Milton county bank was given as $16,000. Simultaneouswith the announcement of closing of this bank came the announcement that plans are being completed for the reopening of about twenty other banks belonging to this chain which closed when the Bankers' Trust company went into the hands of receivers recently.

2. August 6, 1926 Douglas Daily Dispatch Douglas, AZ
Article from Douglas Daily Dispatch, August 6, 1926

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Article Text

ONE CHAIN BANK CLOSES; TWENTY MORE TO OPEN ATLANT, Ga., Aug. 5.-The Milton County bank of Alpharetta, Ga., a member of the chain of small banks for which the Bankers' Trust company of Atlanta was acting as fiscal agent, closed yesterday, it was announced today, by the state banking department. The capital stock of the Milton county bank was given as $16,000. Simultaneously with the announcement of closing of this bank came the announcement that plans are being completed for the re-opening of about 20 other banks belonging to this chain which closed when the Bankers' Trust company went into the hands of receivers recently.