2671. Atlanta Bank of Commerce (Atlanta, GA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 23, 1902
Location
Atlanta, Georgia (33.749, -84.388)

Metadata

Model
gpt-5-mini
Short Digest
7aeb9d0a

Response Measures

None

Description

Multiple contemporary newspaper reports (Jan 23–27, 1902) state a bill was filed to appoint a receiver for the Atlanta Bank of Commerce alleging a $12,000 shortage and that the bank has not been actively engaged in business for several months. No run or depositor panic is reported. A receiver was being sought (court action), implying suspension and likely permanent closure/receivership.

Events (1)
1. January 23, 1902 Suspension
Cause
Government Action
Cause Details
Court petition filed to appoint a receiver after alleged $12,000 shortage and charges of negligent/mismanagement; bank not actively engaged in business for months.
Newspaper Excerpt
A bill asking for a receiver for the Atlanta Bank of Commerce was filed... The Bank of Commerce has not been actively engaged in business for several months ... a shortage of $12,000 was discovered in the accounts of a bookkeeper
Source
newspapers

Newspaper Articles (10)
1. January 24, 1902 The Montgomery Advertiser Montgomery, AL
Article from The Montgomery Advertiser, January 24, 1902

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Article Text

CHARGES SHORTAGE President of Atlanta Bank of Commerce Asks for Receiver. Atlanta, Ga., Jan. 23.-A bill asking for a receiver for the Atlanta Bank of Commerce was filed in the Superior Court today by Robert J. Lowrey, President of the Lowrey National Bank. The Bank of Commerce has not been regularly engaged in business for six months, and the bill is filed to compel an accounting by those having its affairs in charge. Colonel Lowrey alleges in the bill. among other things, that a shortage of $12,000 was discovered in the accounts of a bookkeeper, and that no steps were taken to protect stockholders against the loss. Judge Lumpkin issued an order restraining M. L. and W. A. Bates from disposing of the assets of the bank ,and set the case for February 29.

2. January 24, 1902 The Times Richmond, VA
Article from The Times, January 24, 1902

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Alleged Shortage. (By Associated Press.) ATLANTA, GA., Jan. 23.-The bill asking for a receiver for the Atlanta Bank of Commerce was filed in the Supreme Court to-day by Robert J. Lowry, presiGent of the Lowry National Bank. The bank has not been actively engaged in business for several months, and the bill is to compel an accounting. Colonel Lowry alleges that a shortage of $12,000 was discovered in the accounts of a bookkeeper, and that no steps were taken to protect stockholders against the loss.

3. January 24, 1902 The Brunswick News Brunswick, GA
Article from The Brunswick News, January 24, 1902

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Article Text

A RECEIVER WANTED. Bank of Commerce, Atlanta, Not Being Satisfactorily Managed. ATLANTA, Jan. 23.-A bill asking for a receiver for the Atlanta Bank of Commerce was filed in the superior court today by Robert J. Lowry, presidênt of the Lowry National Bank. The Bank of Commerce has not been actively engaged in business for six months and a bill was filed to compel an accounting by those having its affairs in charge. Colonel Lowry alleeges in his bill. among other things, that a shortage of $12,000 was discovered in the accounts of the bookkeeper and no steps were taken to protect the stockholders against loss. Judge Lumpkin issued a restraining order and set the case for Jan. 29. The Tampa Tribune publishes the following: The Tribune has been informed by two business men of this city of the presence in Tampa of a representative of an out of town printing concern, who has been soliciting business from the merchants of this city with considerable success. The Tribune finds no fault with the out of town printing establishment or its representative for endeavoring to get business out of Tampa, but it does think that it is poor policy on the part of the merchants of Tampa to send their job printing out of the city, when there are half a dozen or more like establishments in Tampa who employ a large number of men and are allworking to build up the city. In some instances, the traveling representatives make lower prices on certain grades of printing than the home offices, but when the express charges are paid, and the class of work and the stock compared, the local establishments generally outbid their competitors.

4. January 24, 1902 The Savannah Morning News Savannah, GA
Article from The Savannah Morning News, January 24, 1902

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ATLANTA BANK IN TROUBLE. R. J. Lowry Seeks Receiver for Bank of Commerce. lanta, Jan. 23.-A bill asking for a receiver for the Atlanta Bank of Commerce was filed in the Supreme Court to-day by Robert J. Lowry, president of the Lowry National Bank. The Bank of Commerce has not been actively engaged in business for several months. and the bill is filed to compel an accounting by those having its affairs in charge. Col. Lowry alleges in the bill, among other things, that a shortage of $12,000 was discovered in the accounts of a bookkeeper and that no steps were taken to protect stockholders against the loss. Judge Lumpkin issued an order restraining M. L., and W. A. Bates, the largest stockholders, from disposing of the assets of the bank and set the case for Jan. 29. Regarding the charges in the bill M. L. Bates said: "The depositors have all been paid in full with the exception of less than $400. Every step taken by the officers has been authorized and assented to by the stockholders. "Shortages like those of McLane, the bookkeeper, may and do occur under the best bank management and I do not see why we as officers should be made to lose more than our proportion."

5. January 24, 1902 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, January 24, 1902

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TELEGRAPHIC BREVITIES. C. P. BRYAN SAILS FOR FRANCE Charles Page Bryan, United States ter to Brazil, who is on leave, sailed New York for France Thursday on steamer La Savoie. ALF TAYLOR HANGED.-Alf was hanged at Friars Point, Miss., Thur day for the murder, last spring, of Lucas, a young man and a deputy of this place. Many people witnessed hanging, which was public. NOMINATED FOR CONGRESS.-Repr sentative Brownlow, of the First Tenness district, was renominated for Thursday by the Republican executi committee, subject to the approval of Republicans of the several counties. The will be no opposition to the action of committee. A. D. T. TROUBLE SETTLED.-At annual meeting of the American Telegraph Company in New York Thur day the old officers of the company re-elected. There was no contest, ences between opposing interests in company having been compromised the meeting was held. SUCCEED OL SHMS pointment is announced of Henry Sykes, of St. Louis, to be general intendent of the Southern New Engla Telephone Company. Sykes is now nected with the Missouri Bell Telepho Company. He will succeed E. B. whose resignation will take effect May 1902. NEW SCOTTISH RITE CATHEDRAL Over a thousand persons witnessed dedication of the Scottish Rite cathedral at St. Louis Wednesday many of them being Masons of high gree who had come from remote The building is one of the handsomest its kind in the United States, it having $100,000. KILLED BY HIS BROTHER.-Robe McFetridge, the wealthy ice dealer, was shot at Chicago on Wednesday by his brother William as the result of business feud, died Thursday evening. liam McFetridge denies all knowledge the shooting, although there were a ber of people who saw him shoot his er down. UNIVERSITIES COMBINE.-The of curators of the Kentucky Universi met at Lexington, Ky., Thursday and most unanimously agreed to a propositi to combine that institution with the ilton Female College. The trustees of latter will meet in ten days to finally cide the matter. Kentucky University over 300 students. Hamilton College has women students. RECEIVER DISCHARGED. - In United States Court at Helena, Thursda Judge Knowles made an order dismissi the suit of A. S. Weight against the tral Montana Mines Company and charging the receiver. The order was result of an agreement between the gants. The mines of the company are uated in Fergus county, Montana, and valued at $1,000,000. V-NOILNISWOO INSURANCE visional agreement has been signed when by the Imperial Insurance Company, ited, Alliance Assurance Company and perial Life Insurance Company are to amalgamated, cables the London spondent of the Journal of Commerce. new company will be called the Imperi Alliance and will take over the entire sets of all three institutions. WRAPPING PAPER MEN resentatives of forty wrapping paper in this country were in secret session Cincinnati on Thursday. Charles field, of Kansas City, presided. It was nied the formation of a combine was object of the meeting, although the tion of the trade and prices generally considered. While it was stated there not likely to be any more cutting in ule rates, the members had nothing to out for publication. A RED CROSS PROTEST.-The Cross Society of California, through president, Mrs. E. A. Harrington, has a telegram to President Roosevelt that, "in the opinion of this society, present method of government transport tion from San Francisco to the Philippin cannot be changed without grave injury the health and comfort of the officers enlisted men of the army. This protest been referred to the secretary of war, acknowledged its receipt from the dent. CUSTOMS CUTTERS.-St. Paul, was selected as the next meeting and Henry A. Taylor, of Toronto, Ont., re-elected president for the ensuing at Thursday's convention of the Cutters' Association of America, held Milwaukee. Other officers were elected follows: Recording secretary, S.S. Dundas, Ont.; treasurer, T. S. Columbus, O.; chairman of practical George W. Dunah, Bloomington, Thomas Sawyer, of Toronto, was pointed corresponding secretary. RECEIVER ASKED FOR BANK.-A asking for a receiver for the Atlanta Bank of Commerce was filed in court Thursday by Robert J. Lowry, president the Lowry National Bank of Atlanta. Bank of Commerce has not been engaged in business for six months, the bill is filed to compel an accounting those having its affairs in charge. Lowry alleges in the bill, among things, that a shortage of $12,000 was covered in the accounts of a bookkeep and that no steps were taken to stockholders against the loss. Judge kin issued an order restraining M. L.

6. January 27, 1902 Atlanta Semi-Weekly Journal Atlanta, GA
Article from Atlanta Semi-Weekly Journal, January 27, 1902

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RECEIVER FOR BANK IS ASKED BY BANKER A bill for a receiver for the Atlanta Bank of Commerce and M. L. Bates and W. A. Bates was filed in the Superior court Thursday afternoon by Robert J. Lowry, president of the Lowry National bank. Judge Lumpkin signed an order restrainthe defendants from in any way disposing of the assets of the bank and fixing a hearing for the defendants to show cause before him why the receiver should not be appointed, on January 29. In the bill Colonel Lowry makes sensational allegations as to the manner in which M. L. and W. A. Bates have been conducting the affairs of the institution and alleges that it has been negligently and incompetently done, that they have not discharged their duty and that the entire conduct of the business has been a grossly mismanaged affair.

7. January 28, 1902 The Semi-Weekly Messenger Wilmington, NC
Article from The Semi-Weekly Messenger, January 28, 1902

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BILL FOR A RECEIVER For the Suspended Atlanta Bank of Commerce. Atlanta, Ga., January 23.-The bill asking for a receiver for the Atlanta Bank of Commerce was filed in the supreme court today by Robert J. Lowery, president of the Lowery national bank. The Bank of Commerce has not been actively engaged in busIness for several months and the bill is filed to compel an accounting by those having its affairs in charge. Colonel Lowery alleges in the bill among other things, that a shortage of $12,000 was discovered in the accounts of a bookkeeper and that no steps were taken to protect stockholders against the loss. Judge Lumpkin issued an order restraining M. L. and W. A. Bates, the largest stockholders, from disposing of the assets of the bank and set the case for January 29th Regarding the charges in the bill, M. L. Bates said: "The depositors have all been paid in full with the exception of less than $400. Every step taken by the officers has been authorized and assented to by the stockholders. Shortages like those of McLean, the bookkeeper, and others occur under the best bank management, and 1 do not see why we as officers should be made to lose more than our proportion."

8. January 30, 1902 Republican News Item Laporte, PA
Article from Republican News Item, January 30, 1902

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A WEEK'S NEWS CONDENSED. Tuesday, January 21. Leonard Roeder, of Quincy, Ill., celebrated his 102d birthday. He witnessed the battle of Waterloo. John Moses, aged 70 years, one of the leading manufacturing potters in the United States, died at his home in Trenton, N. J. Governor Stone appointed William J. Hughes to be magistrate of court No. 15, Philadelphia, vice Richard C. Lloyd, deceased. The Pennsylvania and New Jersey Trust company, capital $100,000, filed articles of incorporation in the county clerk's office at Camden, N. J. Wednesday, January 22. President Roosevelt yesterday nominated Dr. P. M. Rixey to be surgeon general of the navy. The old receiving ship Vermont of the U. S. navy has been stricken from the naval list and will be sold at auction. The United States transport Buford sailed yesterday from New York for Manila ith a large number of soldiers. ine supmarine torpedo boats Pike and Grampus, which are being built at the Union Iron Works, San Francisco. will be launched February 1. Thursday, January 23. Fire destroyed St. Mary's Roman Catholic Church at New Britain, Conn. Loss, $200,000. Israel V. Cornell, a contractor, of Wilmington, Del., committed suicide by shooting himself in the breast. Michael Dougherty, a clerk in the New York tax bureau, was arrested yesterday, charged with embezzlement. M. Jules Cambon, the French ambassador, was the principal speaker at the banquet last evening of the New York Bar Association at Albany. President Harper, of the University of Chicago, denied the rumor that John D. Rockefeller is considering a gift of $26,000,000 to the university. Charles Bright, an American engineer, was arraigned at the Guild Hall police court, London, charged with concealing $500,000 of his assets in connection with bankruptcy proceedings. Friday, January 24. President Roosevelt has signed the bill granting the franking privilege to Mrs. McKinley. John D. Rockefeler has given $100,000 to the Syracuse, N. Y., University to be added to the endowment fund. Ezra Budd Marter, aged 74, a lifelong resident of Burlington, N. J., and well known in politics, died yesterday. Robert J. Lowry petitioned the superior court at Atlanta, Ga., to appoint a receiver for the Atlanta Bank of Commerce, alleging that a shortage of $12,000 exists. The largest gas well in West Virginia has been struck in Pleasants county. It is flowing about 15,000,000 feet of gas a day, and also produces over 250 barrels of oil. Saturday, January 25. A naval retiring board yesterday declined to recommend the retirement of Captain Richmond P. Hobson. The flagship of the Manila Bay fight, the Olympia, went into commissoin at the Charleston (Mass.) navy yard today. The transport Buford will sail for Manila on February 1 and will carry 1,500 unassigned recruits, now at the Presido. W. L. Stewart, a yard foreman, was killed and six others injured in a freight wreck in the Burlington yards at Quincy, Ill. The annual convention of the Bricklayers' and Masons' International Union, after a two weeks' meeting in Pittsburg, closed yesterday. Monday, January 27. Nearly 100,000 horses were shipped from Montana last year, many of them to South Africa. An old entrance to the Philadelphia Custom House has been discovered. It had not been used for many years. The St. Louis franchise of the American Base Ball League was purchased by R. L. Hedges and a number of St. Louis capitalists. Herbert W. Bowen, United States minister to Venezuela, was married to Miss Carolyn Clegg, of Galveston, Tex., on Saturday. The factory of the Barrett Manufacturing Company, at Shady Side, near Jersey City, N. J., was destroyed by fire. Loss, $100,000. The Southern Furniture Exposition company will erect a mammoth building at Charlotte, N. C., in which will be held furniture expositions for factories southern

9. January 31, 1902 Milford Chronicle Milford, DE
Article from Milford Chronicle, January 31, 1902

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A WEEK'S NEWS CONDENSED. Thursday, January 23. Fire destroyed St. Mary's Roman Catholic Church at New Britain, Conn. Loss, $200,000. Israel V. Cornell, a contractor, of Wilmington, Del., committed suicide by shooting himself in the breast. Michael Dougherty, a clerk in the New York tax bureau, was arrested yesterday, charged with embezzlement. M. Jules Cambon, the French ambassador, was the principal speaker at the banquet last evening of the New York Bar Association at Albany. President Harper, of the University of Chicago, denied the rumor that John D. Rockefeller is considering a gift of $26,000,000 to the university. Friday, January 24. President Roosevelt has signed the bill granting the franking privilege to Mrs. McKinley. John D. Rockefeler has given $100,000 to the Syracuse, N. Y., University to be added to the endowment fund. Ezra Budd Marter, aged 74, a lifelong resident of Burlington, N. J., and well known in politics, died yesterday. hert J. Lowry petitioned the superior court at Atlanta, Ga., to appoint a receiver for the Atlanta Bank of Commer alleging that a shortage of $12,000

10. February 1, 1902 Richmond Planet Richmond, VA
Article from Richmond Planet, February 1, 1902

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AWEEK'S NEWS CONDENSED. Thursday, January 23. Fire destroyed St. Mary's Roman CathoNe Church at New Britain, Conn. Loss, $200,000. Israel V. Corneil, a contractor, of Wilmington, Del., committed suicide by shooting himself in the breast. Michael Dougherty, a clerk in the New York tax bureau, was arrested yesterday, charged with embezziement. M. Jules Cambon, the French ambassador, was the principal speaker at the banquet last evening of the New York Bar Association at Albany President Harper, of the University of Chicago, denied the rumor that John D. Rockefeller is considering a gift of $26,000,000 to the university. Friday, January 24. President Roosevelt has signed the bill granting the franking privilege to Mrs. McKinley. John D. Rockefeler has given $100. 000 to the Syracuse, N. Y., University to be added to the endowment fund. Ezra Budd Marter, aged 74, a lifelong resident of Burlington, N J., and well known in politics, died yesterday. Robert J. Lowry petitioned the superior court at Atlanta, Ga., to ap point a receiver for the Atlanta Bank of Commerce, alleging that a shortage of $12,000 exists. The largest gas well in West Virginia has been struck in Pleasants county. It is flowing about 15,000,000 feet of gas a day, and also produces over 250 barrels of oil. Saturday, January 25. A naval retiring board yesterday de clined to recommend the retirement of Captain Richmond P. Hobson. The flagship of the Manila Bay fight, the Olympia, went into commission at the Charleston (Mass.) navy yard to day. The transport Buford will sail for Manila on February 1 and will carry 1,500 unassigned recruits, now at the Presido. W. L. Stewart, a yard foreman, was killed and six others injured in a freight wreck in the Burlington yards at Quincy, III. The annual convention of the Bricklayers' and Masons' International Union, after a two weeks' meeting in Pittsburg, closed yesterday. Monday, January 27. The St. Louis franchise of the American Base Ball League was purchased by R. L. Hedges and a number of St. Louis capitalists. Herbert W. Bowen, United States minister to Venezuela, was married to Miss Carolyn Clegg, of Galveston, Tex., on Saturday. The factory of the Barrett Manufacturing Company, at Shady Side, near Jersey City, N. J., was destroyed by fire. Loss, $100,000. The Southern Furniture Exposition will erect a ing N. C., company at Charlotte, mammoth in which build- will be held furniture expositions for southern factories. Tuesday, January 28. The National Association of Retail Grocers held their fifth annual session in Milwaukee. Two négrées were lynched at West Carroll Parish, La., for the murder of G. N. Grant, a police juror. Fire destroyed the book store of W. O. Davis & Co., at Cincinnati, causing a loss of $50,000. Many rare books were burned, Yale College has decided not to enter in the race at Annapolis, Md., which is by the a May crew/ University 10. of Penasylvania. being arranged and company collided with Vermont at New A Norfolk tug Western York the Coal yesterday, ferryboat smashing the women's cabin of the ferryboat. Wednesday, January 29. Fire gutted the Guardian Assurance company's building, in Montreal, and caused a loss of $100,000. Rear Admiral Lewis A. Kimberly, U.S.N., died of heart disease at West Newton, Mass., yesterday. Admiral Silas Casey, with the Iowa, of the battleship Rear Pacific Chili, squadron, arrived at Valparaiso, yesterday. It is learned that President Roosea William velt tion to sent Emperor cablegram of of congratula- Germany on his birthday. war office says is no betweeen the The dispute British colonies of colonial there and the government over pay troops in 3outh Africa. The Pittsburg Steamship company, at O., has wage with its firemen question Cleveland, settled and the hour oilers on a basis of 17 1/2 cents an for