2702. Fourth National Bank (Atlanta, GA)

View Charter #5045 on SPMC

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
5045
Charter Number
5045
Start Date
November 26, 1928
Location
Atlanta, Georgia (33.749, -84.388)

Metadata

Model
gpt-5-mini
Short Digest
fa538963

Response Measures

Capital injected, Full suspension, Books examined

Other: Reorganization plan and capital subscription by Leon S. Dure proposed to ensure full payment to depositors.

Description

Newspaper accounts (Nov 27-29, 1928) describe a heavy run on the Fourth National Bank in Atlanta (originating after a regional financial scare tied to a Macon bank failure), followed by the bank's closing/suspension and plans for reorganization/sale. Articles do not clearly state the bank successfully resumed normal business; they report closure and reorganization plans, so I classify as run leading to suspension and closure.

Events (3)
1. June 26, 1896 Chartered
Source
historical_nic
2. November 26, 1928 Run
Cause
Local Banks
Cause Details
Heavy withdrawals triggered by a regional financial scare and failures in other Georgia banks (reports link panic to a Macon bank and runs on other local banks).
Measures
Directors met; Leon S. Dure proposed reorganization and subscribers pledged capital; officials promised full payment to depositors.
Newspaper Excerpt
the run which ... the closing of the Fourth National bank here ... attributed to ... originating with the week ... financial scare
Source
newspapers
3. November 27, 1928 Suspension
Cause
Local Banks
Cause Details
Bank closed after the heavy run resulting from the statewide financial scare and runs on other Georgia banks (Macon bank mentioned).
Newspaper Excerpt
the closing of the Fourth National bank here ... Eight Georgia Banks Closed ... Eight small Georgia banks today ... closed ... after heavy runs Tuesday
Source
newspapers

Newspaper Articles (3)
1. November 27, 1928 The Shreveport Journal Shreveport, LA
Article from The Shreveport Journal, November 27, 1928

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Article Text

AT Assurance Given Reorganiza tion Soon to Be Effected. Full Payment® Promised. Press.) Nov. run which terday the closing of the Fourth National bank here, of the largest financial institutions in central Georgia, attributed to. day by officials of the bank to evidently orig. inating with the week sell it to group Atlanta Directors the bank met today with its Leon S. Dure, to discuss plans for embracing proposal of Mr. Dure for new institution The Fourth National had of and depos. its of about $9,000,000. Declaring that there is every as. that will be Dure announced that of the proposed capital stock for already had subscribed without solicitation and added that the arrangement contemplated would "prompt full payment," all depositors. Ellis D. Robb, chief national bank examiner for the Sixth Fed. eral Reserve district, said the Fourth National had been exam ined few days before the run and had been found solvent.

2. November 28, 1928 Des Moines Tribune Des Moines, IA
Article from Des Moines Tribune, November 28, 1928

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Article Text

EIGHT GEORGIA BANKS CLOSED Financial Scare Cause of Heavy Runs affairs middle hind to of Monday The In protection and nounced blamed in of of and Fourth National issuing run to Atlanta finanpassing in directorate The of and Man Knifed Besides bank Bank Farmers Bank of Preston Valley bank Tuesday for knife wounds hed

3. November 29, 1928 The Marshall News Messenger Marshall, TX
Article from The Marshall News Messenger, November 29, 1928

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Article Text

Eight Georgia Banks Fail To Open Wednesday Atlanta Nov Eight small Georgia banks today result the Monday the Fourth National Bank with listed than With the exception of the zens Bank Fort capital the other Bank of Preston. Citizens Bank Company Culloden: Bank Farmers and Mer Bank of Gordon: and Farm Bank of Byron from $15,000 to $25,000 institutions closed ter heavy runs Tuesdav due the financial that followed the Macon bank All the banks located the eGorgia belt FOUND NOT GUILTY Texas. Nov. 28. Police Chief Pat Sullivan, against whom charges of inefficiency were preferred by Fire and Police Commissioner Frank Mellina, found "not guilty" by City Council. He will retain his position.