2640. Bank of Americus (Americus, GA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 21, 1893
Location
Americus, Georgia (32.072, -84.233)

Metadata

Model
gpt-5-mini
Short Digest
67f24098

Response Measures

None

Description

The Bank of Americus first suspended Jan 20–21, 1893 after heavy exposure to the Savannah, Americus & Montgomery (Sam) railroad; a receiver was appointed. The bank had subsequent suspensions in April 1893 and stockholders voted May 13, 1893 to permanently suspend and liquidate (receiver Thornton Wheatley put in charge). No clear, discrete depositor 'run' (misinformation-driven) is described; failures are attributed to bank's railroad loans and correspondent troubles and then liquidation.

Events (5)

1. January 21, 1893 Receivership
Newspaper Excerpt
A few creditors yesterday afternoon applied to Judge Fish for a temporary receiver. He appointed W. A. Dodson ... The hearing for a permanent receiver is set for Feb. 4.
Source
newspapers
2. January 21, 1893 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Heavy losses/close ties to the Savannah, Americus & Montgomery railroad and its being placed in receivership; bank's large indebtedness to the road ruined liquidity.
Newspaper Excerpt
The Bank of Americus ... suspended payment yesterday. ... The failure is attributed to the placing of the Sam road in the hands of a receiver, as the bank was very closely allied with the building and management of that road.
Source
newspapers
3. April 28, 1893 Suspension
Cause
Correspondent
Cause Details
Failure/ misunderstanding with New York correspondents causing inability to meet call deposits on demand; produced loss of public confidence.
Newspaper Excerpt
The Bank of Americus has again suspended payments. The officers claim that the embarrassment is only temporary, owing to a misunderstanding with their New York correspondents...
Source
newspapers
4. May 13, 1893 Suspension
Cause
Voluntary Liquidation
Cause Details
Stockholders voted to permanently suspend and liquidate after ongoing embarrassments and insolvency concerns; assets expected to pay depositors but stockholders to lose.
Newspaper Excerpt
At a meeting of the stockholders of the bank of Americus to-day it was decided to permanently suspend business and liquidate the affairs of the bank.
Source
newspapers
5. July 3, 1893 Receivership
Newspaper Excerpt
The affairs of the Bank of Americus have again been placed in the hands of a temporary receiver ... Judge W H Fish ... appointed Thornton Wheatley temporary receiver ... July 8th is the date appointed for the hearing of the petition for permanent receiver.
Source
newspapers

Newspaper Articles (19)

Article from The Morning News, January 22, 1893

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AN AMERICUS BANK FAILS. Its Embarrassment the Result of the 8am Road's Troubles. AMERICUS, Jan. 21.-The Bank of Americus, the oldest banking institution in the city, suspended payment yesterday. When the fact became known on the streets about 10 o'clock the news went from mouth to mouth with mingled feelings of surprise and regret. Very little as to the actual condition of affairs is obtainable, as B. M. Campbell, the cashier, is in New York in the interest of the financial affairs of the bank. The failure is attributed to the placing of the Sam road in the hands of a receiver, as the bank was very closely allied with the building and management of that road, Col. S. H. Hawkins being president of the bank and of the road. The charter makes every stockholder individually liable for the debts of the bank, and as some of bestockholders are wealthy it is believed that all depositors and others holding claims against the bank will be paid in full. The amount of deposits will not be much over $50,000. STATE, CITY AND COUNTY FUNDS. It being a state depository about $15,000 of this amount is state funds, there was also about $1,800 of county funds, and the city had on deposit $15,891 19. A few creditors yesterday afternoon applied to Judge Fish for a temporary receiver. He appointed W. A. Dodson, junior member of the law firm of James Dodson & Son. The hearing for a permanent receiver is set for Feb. 4. The capital stock is $150,000. For several years the bank has not made any advances to farmers, confining its operations to merchants and railroad enterprises. The immediate cause of the failure is reported to be the large amount of indebtedness of the Sam road held by the bank. It is reported that the bank is amply secured by bonds of the road, and will be able to protect all parties at interest. It is further asserted that the doors of the bank would not have been closed yesterday but for the telegraph blockade. While people feel that the suspension will be temporary, the failure is the subject of general regret. THE STATE OUT ONLY $21. ATLANTA, GA., Jan. 21.-State Treasurer Hardeman to-day contradiots the statement mada in dispatches published here this morning from Americus that the bank which suspended there yesterday owes the state $36,000. He stated that the bank of Americus has never had so much of Georgia's money on deposit at any one time since it became a state depository. The highest amount it has in its possession is $27,000. When it failed of instead $36,000 it had just $21 77, as the books in the treasury office show. Treasurer Hardeman explained that last fall be became dissatisfied with the condition of the Americus bank and took steps to investigate. The showing made did not satisfy his mind and he began drawing out the state's money. At the had was retime $19,000 the on investigation deposit there, begun, which the state duced, as stated, until when the doors were closed only a fraction over $20 remained.


Article from The Morning News, February 5, 1893

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marry her. The father objected to the girl and insisted that his son break off the engagement, and stop paying attention to the girl. Frank's love for the negress was stronger than the affection he had for his father, and he point blank refused to obey the wishes of his parent, who thereupon seized a sharp edged ax and split the boy's skull wide open, and he fell to the ground dead. The father realized what a serious crime he had committed and escaped. He is now at large somewhere out in the woods or swamps. At Atlanta Friday an execution was issued on behalf of the state against the Bank of Americus, which recently got Into difficulties while in possession of $10,033.77 of the public funds. This amount was paid in by the tax collector just before the suspension, and was held by the bank as a state depository. On Jan. 23 Treasurer Hardeman drew a sight draft for the amount. It was not honored and it went to protest. The execution issues against the bank and its sureties, the institution having given a $50,000 bond, on which appear the names of some of the strongest men financially in Southwest Georgia. There is no doubt whatever expressed of their perfect solvency, and no apprehension is felt for the safety of the state's money. Anton L. Kontz wants to be postmaster of Atlanta. Dr. Amos Fox and Maj. Couper are mentioned as applicants, and Col. J. W. Renfro, who was Atlanta's postmaster under Mr. Cleveland, may also announce himself. If Col. Renfro does not apply for the postmastership, his friends say he will ask for the position of marshal. Capt. Bob Barry will also make an effort for this position, as has already been announced, and Dr John W. Neims, who filed it for several years, will also ask for it again. Councilman Charles Northen will be pushed by his friends for the position of collector of customs. The office of collector of internal revenue will also be sought by a number of gentlemen, among them are Hon. Weliborn Colquitt, Thomas C. Crenshaw and Paul Trammel of Dalton. Two young men named C. R. and S. R. Harris stepped off the Cordele train when it rolled into Albany Friday and right into the arms of Chief of Police Gorday of Seaville, a small town on the Savannah, Americus and Montgomery road. The two Harris boys are cousins, and have been clerking in a store at Seaville, which was owned by three farmers. The farmers bought the goods and put the boys in the store to run the business. All went well for a time, but a few days ago the two young clerks suddenly disappeared, and an investigation revealed the fact that they had left very little in the store. They sold out goods to the amount of about $700 and departed with the money. The boys are well connected, and the probability is that the ugly affair that they have made for themselves will be settled. # ATTEMPTED ARSON AT ROME At Rome early Thursday morning a bold attempt was made to burn the compress of the Howel Cotton Company. The watchman who was on duty at the time saw the man walk across the street and climb upon the platform. The man walked about among the bales of cotton for a few moments as if looking for something. Finally he came to where several ragged bales were in close contact with each other and he deliberately pulled a match from his pocket and scratched it on the floor. The match blazed and the watchman saw the face of the incendiary very plainly. He was a white man with a full, cleanly shaven face. He had on a dark coat and light pants and a battered derby hat. The watchman gazed at him, dumbfounded by his deliberate audacity. The man held the match for a moment and then applied it to the dry lint which protruded from one of the ragged bales. The cotton was dry and it blazed up in an instant and the would-be incendiary sprang off the platform and ran away in the darkness. The watchman called for help and when two or three other men came they took up the burning bales and cast them into the street where they were soon extinguished. A daring and villainous attempt at robbery was made on the residence of Judge Twiggs in Summerville, a suburb of Augusta, early Friday morning, in which Mrs. Twiggs came near losing her life. Judge Twiggs was forced to be absent from the city on important business and Mrs. Twiggs and the rest of the family were the only ones in the house. Between 5 and 6 o'clock in the morning Mrs Twiggs awoke and not knowing the hour she arose and walked across the room to look at a clock, and finding what time it was she returned to her bed. She was just about asleep when a cloth saturated with hartshorn was thrown over her head. It was tightly pressed down by strong hands and she awoke with a horrible feeling of suffocation. Mrs. Twiggs was unable to scream for assistance, as the wretch had his hand placed over her face and her head pinned to the pillow with the other hand. With the superhuman strength with which one is endowed under such circumstances she struggled to free herself but her efforts were of no avail and she grew weaker and weaker each moment Fortunately at this juncture the housemaid was heard coming up the stairs with the wood and coal to build a fire for Mrs. Twiggs, as she usually does, and the scoundrel became frightened and releasing his hold he dashed from one of the windows to make his escape. Not feeling the pressure on her face and throat Mrs. Twiggs jerked the cloth off in time to get a look at the man as he disappeared through the window. He was a compactly built white man of medium highth with a dark complexion. The scoundrel in his hurry to escape before being detected was forced to leave several of his murderous articles behind.


Article from The Dawson News, February 15, 1893

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Date Surplus. From the Macon Evening News. AMERICUS, Ga., Feb. 6 -The application of certain creditors of the Savannah Americus and Montgomery railroad to have the road taken into Judge Speer's court is the last straw. It has broken Col. Hawkins down, and whether the application is successful or not makes but little difference. The history of the "Sam" road. as it is familiarly called, reads more like a 10mance than of a staid railroad. By the building of the road Col. Hawkins became, from an ordinary bank president, the great railroad king of Southwest Georgia, He virtually dictated the great business interests of this section and those who opposed him or his plans, or who did not "DOW the knee," were made to feel his displeasure. As long as the road ran from Lumpkin to even after the heavy exof from a narrow a pense Abbeville, changing it made to broad guage was incurred, money. But Col. Hawkins was ambiti. us. He tried to gain control of the Atlanta and Florida railroad, when that road got into trouble. Failing in this he decided to build on to Montgomery. Many of his most trusted friends and advisers protested against this move and it was only by using the strongest of arthat he succeeded in getting in Baltimore to a guments his backers give reluetant consent. The road was built. It cost very near twice as much as was expected and bank rupted the construction company, composed of the friends of Hawkins, who contracted to build it. It runs through a poor country after crossing the Chattahoochee and it has never paid. In building it Hawkins borrowed money right and left. For months every cent of its earnings went into leaving many bills for supplies unpaid. Then the financial crash came By tremendous exertions the road managed to meet the interest on its bonds, but'people were beto feel shaky were more in their payginning pressing demands and for the ment of their bills. The Bank of Americus, with a capital of $100,000 and a surplus of $150,000, was gutted. It diopped its commercial basiness entirely, and months before it failed many predicted the result. The Americus Investment Company, whose stock went to 300, was all wind, as shrewd financiers saw when it declared a dividend in stock of 100 per cent. Its stock is now selling for-well, almost nothing, as no one will handle as its assets are composed of stock in the Sam road and a few farms and buildlings. Since the bondholders have the road the stock is worthless. The bondholders are running the road, and Col. Hawkins, though a co-receiver, has nothing to say about its management, Mr. Gabbet having complete charge. Hawkins' own sons, who had lucrative and easy positions, are now out. Said Col. Hawkins to a friend not long ago: "If it were possible, I would sacrifice everything I have to get away :from Americus. My best friends have deserted and are traducing me." The change in sentiment of the town from a few years ago is wonderful. A few years ago he had elected a council known as the "Sam" council. When it retired the city was nearly bankrupt. Today he could not influence ten votes. SO his enemies say. Hundreds of people are badly caught by loans made or money advanced. There is hardly a firm or company in this section that is not involved, and as a consequence times are Sharder] here now thau they have ever been known. Several concerns known to have been closely connected with Hawkins, are very shaky, and many prophecy that the end of the failures are not yet. It is not yet known if the stockholders of the Bank of Americus will be assessed, but if they are, there will be wailing and lamentation in the land, and curses loud and deep. Already the individual expressions of one old and well known stockholder, who would skin a flea for its hide, are picturesque and enlivening when dilating on the bank affairs. Others are threatened with absolute poverty, who before were in compara-


Article from The Morning News, February 22, 1893

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of by Clerk Badly Drunken Drummer-A Former Slave Finds His Mother After a Separation of Many Years. GEORGIA. The Georgia Baptist convention will convene Dawson on April 4 several hundred strong. Howard White of Macon leaves to-day for Prescott, Ariz, where he will go into business. An inaugural ball will be given at Amoskeag hall, at Amoskeag, on Thursday evening, March 2. The Southern Medical Society of Atlanta" will give its annual banquet on the evening of March 1,at the Kimball. Douglas superior court was postponed until the third Monday in May on account of the ill. ness of Judge Janes. B. M. Waltom and James Barnes have bought the stock of goods in the James block at Douglasville and have opened a store. W. R. White of Macon leaves to-day for Atlanta, where he will engage in the brick manufacturing business with Jim Collins. James Ostrand, of the Southern Exchange Bank and Trust Company of Atlanta, has been prospecting among Rockmart's business men with a view to starting a bank J.T. Clonts, who has been in business at Douglasville for several years, is closing out his business preparatory to inoving away. He will locate at Embry, Paulding county. At Monticello Tu eddy while out with a party of young people, practicing pistol shooting, Miss Ina Kelly was accidentally shot by her cousin, Miss Brown of Kentucky, who is visiting her. The wound was a slight one and not so serious. She was unconscious for awhile, but soon regained consciousness. The Bank of Americus, which suspended business about a month since, will, it is said, BOOD be organized upon a solid basis. George W. Glover, one of Americus' most prominent and successful business men, has been tender d the presidency of the bank and that he will probably accept. Cashier M. B Campbell and Assistant Cashier Cooper will doubtless again assume the duties of their former positions. Quartermaster General Andrew J. West of Atlanta who went to Washin ton to arrange accommodations for the governor's staff during the inauguration, secured quarters at the Hotel Oxford, one of the neatest and most convenient in Washington The proprietor, an old friend of Capt. West, agreed to let him and Gov. Norther have his own pair of horses. the fine st grays in town. Splendid horses from a livery stable were engaged for all the staff. At Thomasville Monday Harry Williams inserted his hand into a wood box sitting by the fireplace in his room to get a splinter. Much to the astonishment and fright of the little fellow when he withdrew his hand he held in his grasp, not the desired piece of kindling, but a live rat snake about two feet long. To say that Harry was scared is putting it very mildly. He hasn t recovered from his fright yet, and now when splinters are wanted some one else has to get them. Eugene Everett of Macon was attended by two physicians on Saturday night. Mr. Everett is the clerk at the Brown house. While standing in the corridors, a drummer. somewhat under the influence of liquor. playfully struck at him, thinking that Mr. Everett would dodge the blow. This he failed to do and received it on the crown of his head. The force of the blow almost deprived him of consciousness. and he was taken suddenly sick. Two physicians were summoned and he is able to be out again. Macon Evening News: A rather romantic and interesting episode was evolved recently by a communication received in Macon by Hope Holhill. The story dates back several months, in fact just subsequent to the trouble between Polhill and Dasher, and came in the shape of a letter to Mr. Polhill from a negro named John Hammond of Hamilton, III. Hammond's eye had caught accounts of the difficulty between Polhill and Dasher, and he had written Mr. Polhill to ascertain the whereabouts of young master, who was Capt. J. H. Polhill of Louisville, Ga. Hammond had run away at the opening of the civil war and gone west, and sinde then his family had lost all trace of him. His communication to Hope Polhill was instrumental in supplying him with information which led to his discovering the whereabouts of his aged mother, whom he had not seen or heard from in over thirty years, and supposed she was dead and gone. He came to Georgia a few weeks since, and the reunion was a happy one. He found his old mother living in Augusta, and he was restored to her after more than thirty years.


Article from The Morning News, April 29, 1893

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A Bank's Second Suspension. Americus, Ga., April 28.-The Bank of Americus has again suspended payments. The officers claim that the embarrassment is only temporary, owing to a mis+ understanding with their New York correspondents, but failure to pay call deposits to-day on demand has caused so great uneasiness on the part of the publie that it will be hard to restore confidence in its solvency.


Article from Passaic City Record, May 6, 1893

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South and West. "JIM" BURKE and "Sam" Massey, colored, were hanged in Bonham, Texas, in the presence of 10,000 people. WHEN the Liberty bell reached Indianapolis, Ind., on its way to Chicago, ex-President Harrison delivered an address on it before the school children of the city. AT Seattle, Washington, Nelsonton Sandborn, aged thirty, shot and killed Mrs. Mary Jensen, aged fifty, and then killed herself in the same manner. Mrs. Jensen was a rich widow; Sandborn was her gardner. THE country northwest of Alton, III., was visited by a severe hail storm. The average size of hailstones was as large as an egg. Many roofs were shattered. The Missouri, Kansas and Eastern road's new tracks were washed away, causing a loss of $100,000. LOOSE business methods and slow collections caused the failure of the private Bank of Salem, near Sioux Falls, South Dakota. The banking establishment of I. M. Strong & Son, at Bancroft, Mich., is in the hands of the Sheriff. The Bank of Americus, Ga., has again suspended payment. GEORGE W. MOREHOUSE, Police Magistrate of Great Falls, Montana, placed a revolver in his mouth and blew off the top of his head. He was three months behind in making his financial report to the council, and that body bad voted to call upon his bondsmen to make good his deficiency. TWENTY-TWO THOUSAND coal miners in Ohio went on strike; work was suspended in every important mine in the State. THE World's Fair, at Chicago, will probably not be in complete order before June 1; the work of finishing the buildings and installing the exhibits is going on rapidly; the New Jersey Building has been dedicated.


Article from Fisherman & Farmer, May 12, 1893

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South an West. "JIM" BURKE and "Sam" Massey, colored, were hanged in Bonham, Texas, in the presence of 10,000 people. WHEN the Liberty bell reached Indianapolis, Ind., on its way to Chicago, ex-Prestdent Harrison delivered an address on it before the school children of the city. AT Seattle, Washington, Nelsonton Sandborn, aged thirty, shot and killed Mrs. Mary Jensen, aged fifty, and then killed herself in the same manner. Mrs. Jensen was a rich widow; Sandborn was her gardner THE country northwest of Alton, III., was visited by a severe hail storm. The average size of hailstones was as large as an egg. Many roofs were shattered The Missouri, Kansas and Eastern road's new tracks were washed away, causing a loss of $100,000. LOOSE business methods and slow collections caused the failure of the private Bank of Salem. near Sioux Falls, South Dakota. The banking establishment of I. M. Strong & Son, at Bancroft, Mich., is in the hands of the Sheriff. The Bank of Americus, Ga., has again suspended payment. GEORGE W. MOREHOUSE, Police Magistrate of Great Falls, Montana, placed a revolver in his mouth and blew off the top of his head. He was three months behind in making his financial report to the council, and that body had voted to call upon his bondsmen to make good his deficiency. TWENTY-TWO THOUSAND coal miners in Ohio went on strike; work was suspended in every important mine in the State. THE World's Fair, at Chicago, will probably not be in complete order before June 1: the work of finishing the buildings and installing the exhibits is going on rapidly the New Jersey Building has been dedicated.


Article from The Morning News, May 14, 1893

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ALL ABOUT AMERICUS. Bank to Liquidate-A Lawyer Attacked by Vertigo. Americus, Ga., May 13.-At a meeting of the stockholders of the bank of Americus to-day it was decided to permanently suspend business and liquidate the affairs of the bank. T. Wheatley was selected to take charge pending the settlement. The assets will more than pay the depositors, but the stockholders are expected to lose a large percentage of their holdings. Between 4 and 5 o'clock this afternoon while the funeral services of Col. Hollis were in progress at the residence on Taylor street a sensation was created by Col. James Dodson, a leading attorney of this city, falling over into a fit of vertigo. The presence of physicians who promptly applied restoratives relieved him and he soon returned to consciousness, and tonight his condition is alot considered serious. t The friends of Capt. Myrick are beginning to lose confidence in his chances of securing a government place abroad.


Article from The Abbeville Press and Banner, May 17, 1893

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South and West. "JIM" BURKE and "Sam" Massey, colored, were hanged in Bonham, Texas, in the presence of 10,000 people. WHEN the Liberty bell reached Indianapolis, Ind.. on its way to Chicago, ex-President Harrison delivered an address on it before the school children of the city. AT Seattle, Washington, Nelsonton Sandborn, aged thirty, shot and killed Mrs. Mary Jensen, aged fifty, and then killed herself in the same manner. Mrs. Jensen was a rich widow Sandborn was her gardner. THE country northwest of Alton, Ill., was visited by a severe hail storm. The average size of hailstones was as large as an egg. Many roofs were shattered. The Missouri, Kansas and Eastern road's new tracks were weshed away, causing a loss of $100,000. LOOSE business methods and slow collections caused the failure of the private Bank of Salem, near Sioux Falls, South Dakota. The banking establishment of I. M. Strong & Son, at Bancroft, Mich., is in the hands of the Sheriff. The Bank of Americus, Ga., has again suspended payment. GEORGE W. MOREHOUSE, Police Magistrate of Great Falls, Montana, placed a revolver in his mouth and blew off the top of his head. He was three months behind in making his financial report to the council, and that body had voted to call upon his bondsmen to make good his deficiency. TWENTY-TWO THOUSAND coal miners in Ohio went on strike; work was suspended in every important mine in the State. THE World's Fair, at Chicago, will probably not be in complete order before June 1; the work of finishing the buildings and installing the exhibits is going on rapidly; the New Jersey Building has been dedicated.


Article from The Morning News, July 3, 1893

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ar one 35 pounds, the while man easily go ten or difteen pounds more. the M. Timmerman still laughs over the watermelon joke that he played on night boys of Stockton last Tuesday be The owner of the melon patch was to when in certain secluded spot and hid the boys a with Timmerman, their leader, arrived, the gun fired, and Timmerman shot. The falling, pretended to be badly all fled at a lively rate of speed of what and notified two other young men to had happene They at boys once went repaired back the place Two of the and the with the ones they had notified, after others left The four who went Timmerman put him on a cot carried that they him made for that purpose, to and the depot, where the melon patch the operator laid him down until could dispatch for a doctor And during told that time Timmerman lumped up and has them that it was joke Every The thing tenth been roar of laughter since. part has not been told, as it is too good to tell all. Washington Gazette: At the close of in the civil war, there was some change we United States postage stamps, but informed that the old stamps were good. were The writer had a number of Confederate stamps with Jeff Davis on them. and being in some conf usion about stamps. did not notice that In perfect good faith and with no earthly idea of defrauding or insulting the United States of America, affixed Jeff Davis picture to letters to go various remote places, one of*which remember in particular was Boston, Massachusetts That the letters went know, by the token that they were we nswered. Before the treasury of stamps blunwas exhausted, we discovered our der and were nearly frightened death. We expected to be arrested and put in jail and were afraid even to tell tale As time went we plucked up courage to relate the story in but not to print it. Since Mrs. Jefferson Davis and Mrs. Grant have had a friend- to ly meeting, we think we can venture print the incident Lumpkin Independant On Wednesday afternoon last, between 2 and 4 o'clock, the heaviest rainfall occurred ever known in this part of the country. The exact record of the rain-gauge was 3.82 inches lacking only a little over an eighth of an inch to reach four inches of rain within little more than an hour. If properly tributed at seasonable intervals it would have been sufficient to secure the making and maturation of the crops now in process of growth By extraordinarily good work and timely management the mill dams near town were prevented from beswept away Several hundred feet of railroad track and a small trestle evond Sawyer's mill were swept away delaying the west bound passenger train from Americus about three hours. Another washout west of Lumpkin delayed it at It this place until late in the night washed down, chimney and all, a new house built by Mr M L. Everett on a level place in a field near his house. The street crossings in town were swept over like mole-hills, the great torrents of water rushing madl through the streets and alleys in wild glee. A special from Gordon says: The crop of cotton in this section of the state was never poorer than it is this season. There hundreds of acres around here that, unless there is great improvement, it will take four or five acres to make a bale, and the same land has héretofore made a bale to two acres, and the farmers are very much discouraged over the situation. There has never been more work done to crops than has been done to these this season, some of them having been plowed the fifth time and well hoed. The corn crops are very good. and unless the rains stay away too long they will be fino. Watermelons are very poor Instead-of three acres to the car, as in previous years, it will take seven or eight ácres. The affairs of the Bank of Americus have again been placed in the hands of a temporary receiver In chambers.Friday night Judge W H. Fish, upon petition of various creditors, appointed Thornton Wheatley temporary receiver to take charge of the affairs of the bank, and he is further authorized to carry out the proposed sale of lots in the town of Lyon the 4th inst. July 8th is the date appointed for the hearing of the petition for permanent receiver An unlooked for and somewhat startling scene was enacted in the superior court room at Macon Friday Judge Bartlett and Attorney John R Cooper were the actors. Jim Dean and Joe Peters, colored boys were tried and convicted of breaking into the Dunlap Hardware Company's store some time ago. Peters was tried several days ago and on being found guilty was sentenced to four years imprisonment in the penitentiary Dean was tried and also found guilty, and Judge Bartlett sentenced him to eight years in the penitentiary as this was the second time he had been convicted of the same offense. M. G. Bayne represented Peters and Mr. Cooper represented Dean. Mr. Cooper, who had been absent when sentence was passed on Dean, came into the court room, and on being told what the sentence was went up on the bench where Judge Bartlett was seated and remonstrated with him about the severity of the sentence. In the course of his remarks he reminded the judge that it was very strange that Joe Peters, who was represented by another attorney, had only received four years for the same offense for which Jim Dean received eight years. Mr. Cooper's remarks were not couched in as polite language as they might have been Judge Bartlett replied by stating to Mr. Cooper that he could pay a fine of $25 or go to jail for contempt of court The judge then turned to Sheriff Westcott and told him to execute the order of the court As the sheriff was approaching Mr. Cooper, that gentleman stepped down from the bench. and taking a position directly in front of the judge, asked permission to make a statement The permission was granted, and Mr. Cooper began by saying he had done the court a great injustice, that he had spoken without thinking, and that he beared the court to forgive him for what he had said. That he was wrong, and would retract every word he had said. Mr. Cooper spoke for several minutes, and said that no one felt the injustice he had done the court more keenly than himself. When he had finished. Judge Bartlett, W ho had remained perfectly cool and impertrubed throughout the whole affair. told Mr. Cooper that his apology was that shoriff


Article from The Morning News, March 18, 1894

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AN ABUSED BANKING LAW. Ex-Stockholders of Twenty Years Ago Liable for a Recent Failure. Americus, Ga., March 17.-Judge Fish to-day granted a very important order that is far reaching in its results. He ordered the receiver of the Bank of Americus, T. W. Wheatley, to file with the clerk of the court a complete list of the stockholders for the twenty years prior to his appointment as receiver. The bank of Americus has a clause in its chater making each stockholder personally liable for all the debts of the bank. The object of this order is to furnish information to all holding claims against the bank when it suspended business, upon which to base action to recover. Besides many local business men nearly all the leading banks of the state, and at least a score of banks in New York and other nothern cities have been stockholders during the time covered by the order. CONTENTION OVER A FEE. There was quite a contention over the fee, claimed by Judge Fort for drawing the order to place the Americus Investment Company in the hands of a receiver. Fifteen hundred dollars. the fee claimed, was considered by interested parties as excessive. Judge Fish fixed the fee at $300.


Article from The Morning News, May 9, 1896

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IN GEORGIA AND FLORIDA. NEWS OF THE TWO STATES TOLD XI GEORGIA. The Woman's Parsonage and Home Mission Society is in session at the First Methodist church at Rome. Dr. and Mrs. Robert Fleming Taylor of Cassville celebrated the golden anniversary of their wedding Tuesday. The seventeenth great sun council fire of the great council of Georgia of the Improved Order of Red Men will be kindied in Atlanta next Tuesday. The peach crop in Houston will be very much smaller than it was last year. The curculio has done much damage. Young trees are holding more fruit than the old souo Charlie Milner, while handling a breechloading shotgun at Barnesville Thursday, received the load in his head, the gun being discharged accidentally. He died immediately. W. J. Boon of near Perry. has invented a scalper proof railroad ticket, which is said to be just the ticket needed by several prominent railroad officials. A patent has been applied for. Judge Richard Johnson, chief of the state pension department, has completed paying the pensions to soldiers. The appropriation has been exhausted. and more payments will be made this year. The grand encampment and grand lodge of the Independent Order of Odd Fellows of the state of Georgia will be held an Atlanta-the former on the fourth Tuesday, the 26th, and the latter on the 10urth Wednesday, the 27th. J. M. High, a dry goods merchant of Atlanta, is ill at Paris, France, and has been compelled to retire from business. will remain abroad indefinitely, and business will be succeeded to by Frank W. Holt and John E. McLelland. The Whitehall trousers factory at Athens continues to increase the capacity of its plant, so large have become the orders for its products. They are now sperating sixty machines and are adverusing for twenty-five extra girl operators. J. W. Allen dropped dead at Griffin Monanday afternoon at 3 o'clock, while sitting an a chair in Farley's pool room talking to some friends. He was apparently the best of health, and at the moment and his taking off was conversing with business JO matter e uo Bridges D THE Capt. J. F. Stone, the efficient traveling representative of the Savannah Morning News, has struck a rich and inexhaustible mine of kaolin on his farm in Decatur county, and he is making arrangements to sell it in large quantities to a New York firm for $11 a ton delivered on the cars at his farm. Berner Edwards had a narrow escape from accidental death at Juliette a few days ago. He was driving a team of mules across the Southern railroad track and the wagon was hit by the train and torn to pieces. Mr. Edwards and a negro liaved themselves by jumping, and a tro boy, who was also in the wagon, was thrown out and seriously hurt. Phillip De Vald of Montgomery county tnd Miss Mertha Berkleman of Florida were married at Cordele Tuesday. The groom is about 56 years old and his bride, pretty brunette, is 19. Mr. De Vald statatd that the parents of the bride objected to the match, and he gave $10 to a party deliver a note to Miss Berkleman. The couple left the same afternoon for Montjomery. Hon. R. L. Greer of Macon county was at Americus Tuesday as special master to lear and report upon all claims against the old Bank of Americus, which suspend. ad three years ago. He is to ascertain he total amount of the bank's indebtdness and to whom due, and will file Report of same at the regular term of Sumter superior court. The liability of tockholders of the defunct bank will not determined at this time. The amount of the bank's indebtedness is net known, but will probably exceed $100,000. Auditor J. M. Pace has filed in the office of the clerk of DeKalb superior court complete reports of the liabilities of ex-TreasTurer J. A. Mason. The amount of short. is placed at $19,200 with interest since 1893, which will swell the total to $23,000 Mason's bondsmen are M. A. Steele,


Article from Americus Times-Recorder, May 3, 1901

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TO RECOVER BANK'S PROPERTY. A Suit to This End Has Been Filed in Court. Attorneys for the receiver of the old Bank of Americus on yesterday filed suit in Sumter superior court to recover or bring back into the hands of the receiver certain property alleged to have been illegally disposed of after the collapse of that institution in 1893. This was done, it appears, by W. W. Flannagan, acting as trustee for certain creditors of the bank. It is now sought to bring back these properties into the hands of the receiver, T. Wheatley, for general distribution. The properties named in the suit are the bank building on Cotton avenue and a residence on Felder street.


Article from Americus Times-Recorder, November 4, 1903

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STUPENDOUS SUIT FILED YESTERDAY. Litigation in Bank Americus Case IMMENSE AMOUNT ISINVOLVED. Creditors of Old Bank Seek to Recover Their Claims Under Personal Liability Clause-Biggest Suit Ever Instituted in Americus. A lawsnit. of gigantic proportions, an 1 one which may rattle dead men's bones as well as those of the living, was filed in the clerk's office yesterday and will come up for the initial hearing at the forthcoming session of Sumter superior court, which will convene three weeks hence. The amount involved is something between $150,000 and $200,000, It is the suit of creditors of tho defunct Bank of Americus, who seek to recover the amount of the indebtedness due them, as alleged, under the personal liability clause. Every person, firm or corporation who may have owned stock in the old bank during its existence of twenty years may be made parties defendant to this suit. Not a few of those long since dead, but who left valuable es tates, appear in the list of several hundred named. Many northern banks who owned this stock as collateral sscurity are also up against it. Many prominent citizens of Americus, firms and corpor ationsare likewise included in the list, and there will be a general stir when the case is called at the next term of court. The case is that of Thornton Wheatley, receiver, versus S. H. Hawkins and others. The Bank of Americus became hopelessly insolvent on Jan. 20th, 1893, and Mr. Wheatley made receiver. Since that time the affairs of the old bank have been litigated and decree granted the creditors as set forth by them. In the charter of the old bank is the following provision: "The individual property of the stockholders at the time of suits shall be liable for the ultimate payment of the debts of the company in proportion to the amount of stock owned by each stockholder." The case is one of great interest in Americus, though dozens of the defendants reside in other Georgia cities. As a matter of course the suit will be stubbornly resisted and, in all proba. bility, there will be a long fight in the courts ere a conclusion is reached in this monster litigation. Judge A. L. Miller, Col. E. A, Hawkins and Messrs. Hooper & Dykes are petitioners attorneys.


Article from The Savannah Morning News, November 4, 1903

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STOCKHOLDERS SUED BY CREDITORS OF THE OLD BANK OF AMERICUS. BANK FAILED 10 YEARS AGO AND NOW STOCKHOLDERS FIND THEMSELVES DEFENDANTS. There Was a Personal Liability Clause in the Bank's Charter, and It Is Upon the Strength of This That the Suits Are Instituted. There Are Several Hundred Defendants Named-Are Widely Scattered. Americus. Ga., Nov. 3.-A law suit of the first magnitude was filed in Sumter Superior Court, this afternoon by creditors of the old Bank of Americus, which collapsed ten years ago. Petitioners bring suit through Thornton Wheatley, formerly receiver for the bank, and all stockholders living and dead who ever owned stock in the old bank are named as defendants to this suit. The amount involved is nearly $200,000, and the suit is brought under the personal liability clause in the bank's charter, which provides that the individual property of stockholders at the time of suits shall be liable for the ultimate payment of the debts of the company in proportion to the amount of stock owned by each stockholder. There are several hundred defendants named, and these reside in nearly every city in Georgia, and in the North as well. Many large Eastern banks, which held stock of the old Bank of Americus as collateral security, are among the defendants in this suit. Hundreds of people owned stock in this bank since its establishment, thirty years ago, and as none of these published notice of transfer of stock at any time, all many be parties to this litigation. The case will come up on its first hearing on the fourth Monday in November at Sumter Superior Court, and wide interest is centered in the result.


Article from Americus Times-Recorder, February 21, 1905

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HEARING BANK AMERICUS CASE Interesting Trial is Assigned Here Tomorrow. The long-pending trial of the Bank of Americus case is assigned for tomorrow, with Judge Spence presiding. This old case is of widest interest here, owing to the large amount involved, probably $100,000 or more, and the host of defendants to said suit. Many prominent attorneys of Macon, Atlanta, Savannab, Americus, Columbus and other cities will appear in the case tomorrow, and the legal battle will be hotly waged. The features of this long-pending suit are familiar to the public, and the result of the litigation is awaited with greatest interest in dozens of cities where the stock of the old bank was held at the time of its failure a dozen years ago.


Article from Americus Times-Recorder, February 23, 1905

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CASE OF OLD BANK TOOK UP A DAY. A Decision in Bank Americus Case IS RENDERED BY JUDGE SPENCE Stockholders Who Had Transferred Stock Before Bank Receivership are Not Liable-Case Tried is One of Very General Interest. The "battle royal" in the old Bank of Americus casb, heard at length here yesterday before Judge W. L. Spence presiding, resulted in a victory for the defendant stockholders and more especially those who had made a transfer of their stock prior to the bank's receivership. The case was stubbornly fought throughout, every point being ably contested. Eminent legal counsel from other Georgia cities appeared in this cause celetrae, while every member it the Americus bar, with possibly two or three exceptions, was interested. Messrs, William G rard, A. A. Lawrence and W. L. Clay, of Savannab; 1. L. Miller, George S. Jones and Olin J. Wimberly, of Macon; Alex. Smith of Atlanta were among the out-of-town attorneys. and an able array it proved when the facts in the case were being brought out. The hearing occupied the entire day, the case concluding at 5 o'clock. Briefly stated, the case was a suit brought by creditors of the defunct Bank of Americus, which failed in 1893, to make the former stockholders liable for the debts of the old bank. There was a clause in the ancient charter, granted in the seventies, thus making stockholders liable. The defendants in the suit embraced all those, whether living or dead, who had held stock in the old bank within a n given period. It also included banks and trust companies in the larger cities of the counB try which held the stock of the old n bank as collateral. Thus it will be n seen that the case covered a large scope n and was of more than local interest, d though many here were also involved. n And the contentions of the defende ants were very generally sustained. Judge Spence held that all stock. holders of the old bank, who had sold NOT their stock prior to the receivership of January 20:h, 1893, were not liable for the indebtedness of the bank. Only those who were stockholders at that date could be held liable for its int debtedness, and there were compara. tively few such. Judge Spence held further that the e judgment obtained heretofore by credh itors against the Bank of Americus was not a good judgment against the stockr holders; but that the creditors in this 10 suit must set out fully their claim just as though it had never been sued. The effect of this is, as the suit against stockholders was not filed nne It til ten years after the receivership, n most all claims by this time are barred d If this ruling 18 he'd good there will be few debts in date for which any stockholders can be held liable, it The case will, of course, be appealed to the Supreme Court and may yet be E in litigation a long time, but the stockholders are well pleased at the decision p in their favor.


Article from Americus Times-Recorder, May 20, 1906

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GIVES A DECISION IN CASE OF OLD BANK. Liability of the Stockholders Settled OPINION FROM SUPREME COURT Bank of Americss Case Is Determined Before That Tribunal-Holders of Stock at Time of Receivership Alor e Liable for Debt. The Sapreme Court of the State has just rendered a decision in the case of the defunct Bank of Americus, holding that only those who held stock in the broken bank at the time of suit against the stockholders can now be held liable for its indebtedness. This decision affirms.that of Judge Spence, who presided here in a trial of this important case a year or two ago. His decision was affirmed in part and reversed in part. The part affirmed is that given ab ve relative to the liability of stockholders at time of Fuit. Jodge Spence decided, and his decision is upheld by the Supreme Court, that stockholders who had sold and transferred their stock in the old bank prior to the receivership, could not be held liable for the debts of the defunct institution. And the Sapreme Court, in affirming that decision, affords relief to hundreds of innocent people here. Upon the other hand the Supreme Court reversed Judge Spence upon the point that the receiver for the old bank could not bring suit upon the judgment previously secured by creditors, holding that such judgment was prima facie evidence of indebtedness. This referred to the suit brought by said creditors against the receiver of the old Bank of Americus. Under this decision, the hundreds of people who owned stock in the old bank during the long years preceding its collapse are not liable for its debts under the "liability clause" in the bank's charter, though they gave no notice of sale of stock. The ultimate liability of stockholders, who at the time of the back's fail ure in 1893 held stock therein, is not yet fully determined, The case'is one of greatest interest to hundreds of people in Americus and throughout the state, Under the "liability clause" in the charter of the old Bank of Americus all stockholders were made liable for its indebtedness, unless at the time of sale or transfer of stock public notice of such sale was given by legal publication. Few knew of such requirement or provision, and no transfers, or few, were eyer published. After the bank failed, northern creditors brought suit against all the stockholders for the enormous debts of the old bank. Among these were included stockholders who years and years before the bank failed had sold their stock. These stockholders are scattered over Georgia and a dozen states, or dead. But all were made defendents to this great suit.. The decision of the Supreme Court will thus afford relief of all who did not hold stock when the bank collapsed.


Article from Americus Times-Recorder, April 29, 1924

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THIRTY YEARS AGO TODAY (From The Times Recorder. April, 29, 1894.) Dr. and Mrs E. J. Eldridge and Mr. and Mrs. G. M. Eldridge leave tomorrow on a two weeks visit to relatives in Maryland. They will also visit Mr. and Mrs. A. R. Eldridge at their home inj Saratoga, 'before returning here. Misses Eula Wells, Bertha Jennings, and Hattie McAfee a trio of Smithville's prettiest young ladies, will return home today after a pleasant visit of a week to Miss Myrtice Allen, at her home on Lee street. Will Harper, formerly of this city but now of Atlanta, came down yesterday to spend a day or two with his sister, Mrs. L. D. Lockhart. In Chambers yesterday Judge Fish passes an order instructir Mr. Thornton Wheatley, receiver of the Bank of Americus to pay over $1,000 as state and county taxes due by the bank for 1892. This does not cover the full amount and is only to be a credit upon the tax fifa. Is it not quite time for early closing season to begin? The jewelly stores will begin closir at 6 P. M. on Tuesday, independently, or merchants in other line. Let all follow in this movement and begin the early closing season regularly either on the 1st or 15th of May. Two of Sumter's best knowr. citizens, Dr. S. S. Bird and Mr. Seaborn J. Walters are seriously ill at their respective homes near the city.