2638. Americus Trust & Savings Bank (Americus, GA)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
savings bank
Start Date
February 6, 1914
Location
Americus, Georgia (32.072, -84.233)

Metadata

Model
gpt-5-mini
Short Digest
bb3e7de3

Response Measures

Full suspension, Books examined

Other: Receivers appointed and liquidation/dividend payments followed; criminal indictments of officers mentioned.

Description

The Americus Trust & Savings Bank was a state-chartered savings/trust department closely affiliated with the failed Americus National Bank. Newspapers state the savings bank was run in connection with the Americus National Bank, then placed in receivership and liquidated with dividends paid to depositors. No reopening is reported; receiver distributed dividends and pursued collections.

Events (3)

1. February 6, 1914 Run
Cause
Local Banks
Cause Details
Run occurred in connection with the failure of the Americus National Bank and missing cashier/embezzlement allegations tied to the national bank.
Newspaper Excerpt
The Americus Trust and Savings Bank ... is almost as hard hit as the National Bank
Source
newspapers
2. February 6, 1914 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closely tied to the failure and alleged malfeasance at the Americus National Bank, leading to suspension of the trust & savings department.
Newspaper Excerpt
Assistant State Bank Examiner T. C. Dunlap, who has been appointed temporary receiver ... at work on the tangled affairs of the Americus National Bank. The Americus Trust and Savings Bank ... is almost as hard hit
Source
newspapers
3. May 31, 1914 Receivership
Newspaper Excerpt
WALLIS NAMED RECEIVER FOR SAVINGS BANK ... Judge Z. A. Littlejohn at a late hour yesterday appointed Mr. W. P. Wallis receiver for the Americus Trust & Savings Bank, an offspring of the defunct Americus National ... the little saving bank was organized under a state charter
Source
newspapers

Newspaper Articles (13)

Article from Atlanta Georgian, February 6, 1914

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Article Text

NO TIDINGS FROM MISSING CASHIER Examiner Says It Will Take Several Weeks to Untangle Americus Bank's Affairs. AMERICUS, Feb. 6.-Assistant State Bank Examiner T. C. Dunlap, who has been appointed temporary receiver and who is at work on the tangled affairs of the Americus National Bank, refuses to make a statement now, other than it will take probably several weeks to get at the bottom of the bank's failure. The Americus Trust and Savings Bank, an institution closely allied with the National Bank, doing business in the same building and having practically the same officers, is almost as hard hit as the National Bank, it seems. It had $30,000 on deposit. So far no tidings have been received from G. D. Wheatley, Jr., the missing assistant cashier. Many of his friends insist that he is near Americus. The general opinion is that Wheatley is involved no deeper than some others, and that if he will return and help straighten matters out, he will stand a. good chance to clear himself of the charges that rumor has fixed on him. His father still stands steadfast in his declaration to stick to him. Depositors to Get 50 Per Cent. ENOIA, Feb. 6.-H. H. North, receiver of the Bank of Senoia, has announced that he will pay a 50 per cent dividend to depositors on Tuesday, February 10. The bank was closed one year ago. This will be the first dividend. Mr North is confident that depositors will be paid in full


Article from Atlanta Georgian, February 7, 1914

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Article Text

NO TIDINGS FROM MISSING CASHIER Examiner Says It Will Take Several Weeks to Untangle Americus Bank's Affairs. AMERICUS, Feb. 6.-Assistant State Bank Examiner T. C. Dunlap, who has been appointed temporary receiver and who is at work on the tangled affairs of the Americus Na tional Bank, refuses to make a statement now, other than it will take probably several weeks to get at the bottom of the bank's failure. The Americus Trust and Savings Bank, an institution closely allied with the National Bank, doing business in the same building and having practically the same officers, is almost as hard hit as the National Bank, it seems. It had $30,000 on deposit. So far no tidings have been received from G. D. Wheatley, Jr., the missing assistant cashier, Many of his friends insist that he is near Americus. The general opinion is that Wheatley is involved no deeper than some others, and that if he will return and help straighten matters out, he will stand a good chance to clear himself of the charges that rumor has fixed on him. His father still stands steadfast in his declaration to stick to him.


Article from Americus Times-Recorder, May 31, 1914

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Article Text

WALLIS NAMED RECEIVER FOR SAVINGS BANK / OFFSPRING OF NATION'L BANK His Appointment is Made Yesterday / Judge Z. A. Littlejohn at a late hour yesterday appointed Mr. W. P. Wallis receiver for the Americus Trust & Savings Bank, an offspring of the defunct Americus National, and, prior to the closing of that bank ,operated by the same officers. The little saving bank was organized under a state charter, and had a capital stock of $15,000. Its deposit account, at the time of the closing of the national bank, was said to be about $13,000. Its assets at this time are thought to be rather small. Just what depositors will receive in the liquidation of the bank is, of course, largely a matter of coujecture. About two weeks ago, Attorney General Warren Grice came to Americus to see about the appointment of a receiver for the little state bank, and proposed the appointment of Mr. L.G. Council to that position. Mr. Council, however, found it inexpedienct to accept the position and so notified Judge Littlejohn, who has since named Mr. Wallis as the receiver instead. The exact status of the bank's condition will not be known until Receiver Wallis has gone fully into its financial affairs. A number of its depositors, it is understood, were women and children.


Article from The Dawson News, June 5, 1914

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Article Text

Receiver Is Named. Judge Z. A. Littlejohn appointed W. P. Wallis receiver for the Americus Trust and Savings bank, an offspring of the defunct Americus National, and prior to the closing of that bank operated by the same officers. The little savings bank was organized under a state charter, and had a capital stock of $15,000. Its deposit account, at the time of the closing of the national bank, was said to be about $13,000.


Article from Americus Times-Recorder, July 14, 1914

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Notice. All persons holding accounts against the Americus Trust & Savings Bank will please bring their passbooks and make proof of same under oath. W. W. DKYES, Receiver. advt


Article from The Dawson News, December 1, 1914

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JURY WILL INVESTIGATE WILL LOOK INTO AFFAIRS OF TRUST AND SAVINGS BANK. Was Run in Connection With the Americus National Bank. Was a State Institution. AMERICUS, Ga.-The affairs of the defunct Americus Trust and Savings Bank, which, with its parent institution, the Americus National, went to the wall in February last. are to be inquired into by the grand jurv now in session here in all likelihood. The savings bank was a state institution, operated under a charter from the state of Georgia, and it is clearly within the province of the superior court grand jury, now in session here, to investigate the failure of the bank. The failure of the national or parent bank was recently investigated by the United States court grand jury with the result that its cashier, M. M. Lowrey, and Assistant Cashiers Wheatley and Hawkins were indicted for alleged abstraction of funds and falsifying accounts. The state savings bank was a part and parcel of the national, and was operated under the same roof and by the same officers. It had a capital stock of $15,000 and deposits of probably $20,000, both of which seemed to have been wiped out to a great extent, in the wreck of the Americus National. W. W. Dykes, as receiver, has charge of the affairs of the little state bank which was largely absorbed by the big one.


Article from The Dawson News, January 12, 1915

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DEPOSITORS GET FIRST DIVIDEND Receiver of the Suspended Bank of Americus Distributes 10 Per Cent Among Creditors. AMERICUS, Ga.--The first dividend of ten per cent to depositors of the suspended Americus Trust and Savings Bank, a department of the wrecked Americus National Bank, of which M. M. Lowrey was the directing genius, was paid this afternoon by Receiver Dykes. The deposits of the savings bank were approximately $18,000, and Receiver Dykes expects to make other dividend payments as assets realize. The depositors were principally women, children and people of slender means. Each of the suspended institutions have now paid first dividends of ten per cent. The indebtedness of the national bank exceeded $300,000 and creditors expect considerably less than 50 cents on the dollar. Stockholders lost their entire capital stock of $100,000 and were forced to pay in addition a like amount under the liability clause. The same officers operated both banks.


Article from Americus Times-Recorder, November 22, 1915

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GEORGIA,, Sumter County. Will be sold before the courthouse door in the City of Americus, said state and county, on the first Tuesday in December, 1915, which will be the 7th day of December, between the legal hours of sale the following described real estate, towit: The south half of lot of land Number 35, in the 26th district of Sumter county, Georgia, and the northwest quarter off of lot of land Number 36 in the 26th district of said state and county, all of said land containing 140 acres, more or less; also that tract of land known as the Sealy Green dower. the same containing 35 acres, more or less, and adjoining the above described land in said county. Said property being in possession of Freeman and Clara Hightower, and will be sold as the property of said Freeman Hightower and Clara Hightowner to satisfy a certain City court fifa issued from the City Court of Americus ,in favor of W. W. Dykes, receiver of the Americus Trust and Savings Bank vs. Freeman Hightower and Clara Hightower. Tenants in possession notified in terms of the law. This the 10th day of November, 1917, Q. W. FULLER, Sheriff, By Lucius Harvey, Deputy Sheriff.


Article from Americus Times-Recorder, November 29, 1915

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GEORGIA,, Sumter County. Will be sold before the courthouse door in the City of Americus, said state and county, on the first Tuesday in December, 1915, which will be the 7th day of December, between the legal hours of sale the following described real estate, towit: The south half of lot of land Number 35, in the 26th district of Sumter county, Georgia, and the northwest quarter off of lot of land Number 36 in the 26th district of said state and county, all of said land containing 149 acres, more or less; also that tract of land known as the Sealy Green dower, the same containing 35 acres, more or less. and adjoining the above described land in said county. Said property being in possession of Freeman and Clara Hightower, and will be sold as the property of said Freeman Hightower and Clara Hightowner to satisfy a certain City court fifa issued from the City Court of Americus in favor of W. W. Dykes. receiver of the Americus Trust and Savings Bank VS. Freeman Hightower and Clara Hightower. Tenants in possession notified in terms of the law. This the 10th day of November, 1917 Q. W. FULLER, Sheriff, By Lucius Harvey, Deputy Sheriff.


Article from Americus Times-Recorder, December 21, 1915

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Other Bank Pays. A dividend of 20 per cent. is being paid to the depositors of the Americus Trust & Savings Bank, which failed at the time of the Americus National Bank. Receiver W. W. Dykes, of this bank, has mailed out the checks to the depositors. The dividend of 20 per cent. makes a total of 80 per cent. which has been paid to the depositors since the failure of the bank. It is learned that other dividends will be made in a short while in connection with the Americus Trust & Savings Bank, which will make the returns of the depositors realize the total amount of their loss.


Article from Americus Times-Recorder, January 5, 1916

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Legal Advertisements Sheriff's Sale. GEORGIA-Sumter County. Will be sold before the Court-house door, between the legal hours of sale, or the first Tuesday in Feburary, 1916, the following described real estate, towit: "That certain lot of land situated, lying and being in the New Sixteenth (16th.) District of Sumter County, Georgia, same being lot number Seventeen (No. 17) in said District, and containing One Hundred and Seventy (170) acres, more or less; said lot of land is bounded on the North by the lands of Kinmore, on the East by land formerly owned by T. G. Hudson, on the South by land of the widow Kinard, and on the West by lands of the W. P. Finch old estate." Levied on as the property of Geo. D. Wheatley to satisfy a City Court Fi. Fa. in favor of W. W. Dykes, Receiver of the Americus Trust & Savings Bank, to be sold at the risk of H. C. Clark. This 5th day of January, 1916. 6-4t LUCIUS HARVEY, Deputy Sheriff, Sumter County Ga.


Article from Americus Times-Recorder, January 6, 1916

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Legal Advertisements Sheriff's Sale. GEORGIA-Sumter County. Will be sold before the Court-house door, between the legal hours of sale, or the first Tuesday in Feburary, 1916, the following described real estate, towit: "That certain lot of land situated, lying and being in the New Sixteenth (16th.) District of Sumter County, Georgia, same being lot number Seventeen (No. 17) in said District, and containing One Hundred and Seventy (170) acres, more or less; said lot of land is bounded on the North by the lands of Kinmore, on the East by land formerly owned by T. G. Hudson, on the South by land of the widow Kinard, and on the West by lands of the W. P. Finch old estate." Levied on as the property of Geo. D. Wheatley to satisfy a City Court Fi. Fa. in favor of W. W. Dykes, Receiver of the Americus Trust & Savings Bank, to be sold at the risk of H. C. Clark. This 5th day of January, 1916. 6-4t LUCIUS HARVEY, Deputy Sheriff, Sumter County Ga.


Article from Americus Times-Recorder, June 15, 1916

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COURT HOUSE NOTES The hearing in a case scheduled for this morning before Judge Littlejohn, involving the Americus Trust and Savit.gs Bank, was postponed because of the absence of Receiver W. W. Dykes, who is in St. Louis, attending the national democratic convention.