2724. Neal Loan & Banking Company (Atlanta, GA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 23, 1907
Location
Atlanta, Georgia (33.749, -84.388)

Metadata

Model
gpt-5-mini
Short Digest
d9443f8b

Response Measures

None

Description

The Neal Bank is repeatedly described as having failed on December 23, 1907 and is being wound up by the Central Bank and Trust Corporation acting as receiver. There is no article in the set describing a depositor run prior to suspension; articles focus on failure, receivers' deeds (1912-1914), and payment of dividends to depositors. Cause classified as bank-specific insolvency (assets/liabilities shortfall). 'Loan & Banking Company' suggests a state-chartered institution but the sources here don't explicitly state charter type, so bank_type set to unknown.

Events (5)

1. December 23, 1907 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank failure/insolvency: liabilities (~$3,000,000) exceeded assets; deposits about $2,000,000. Bank is described as having failed on December 23, 1907 and subsequently wound up by receivers.
Newspaper Excerpt
Neal Bank depositors will receive... the amount they had in the institution the day it failed, December 23, 1907.
Source
newspapers
2. December 6, 1912 Receivership
Newspaper Excerpt
Receivers' Deeds... Central Bank and Trust Corporation, receiver of Neal bank, to Frank and George Edmondson... December 6, 1912.
Source
newspapers
3. February 19, 1913 Receivership
Newspaper Excerpt
Receiver's Deed. $5—Central Bank and Trust Corporation as receiver of Neal bank to J. H. Porter et al., ... February 19.
Source
newspapers
4. September 25, 1913 Other
Newspaper Excerpt
NEAL BANK WILL PAY A DIVIDEND NEXT MONTH... depositors will receive between November 1 and 15, a dividend of 3 1-2 or 4 per cent... the day it failed, December 23, 1907.
Source
newspapers
5. January 6, 1914 Receivership
Newspaper Excerpt
Receiver's Deed $1,750-Central Bank and Trust Corporation as receiver of Neal Bank to G. W. Chamlee... January 6.
Source
newspapers

Newspaper Articles (9)

Article from Atlanta Georgian, December 7, 1912

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Article Text

Receivers' Deeds. . $1,000--Central Bank and Trust Corporation, receiver of Neal bank, to Frank and George Edmondson, lot 50x235 feet, north side Ponce DeLeon avenue, 280 feet west of Barnett street. December 6, 1912. $1,250-Same to same, lot 50x234 feet, north side Ponce DeLeon avenue, 130 feet west of Barnett street. December 6, 1912. $1,250-Same to same, lot 50x234 feet, north side Ponce DeLeon avenue, 80 feet west of Barnett street. December 6, 1912.


Article from Atlanta Georgian, February 19, 1913

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Article Text

Receiver's Deed. $5—Central Bank and Trust Corporation as receiver of Neal bank to J. H. Porter et al., lot 59 by 150 feet, northwest corner Forrest and Piedmont avenues. February 19.


Article from Atlanta Georgian, February 19, 1913

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Article Text

REAL ESTATE AND CONSTRUCTION NEWS Schaal, lot 42 by 118 feet, east side Waldo street, 168 feet north of Killian street. February 18. ve Inches of Peters Street $1,400-William Rawling to Equitable Mortgage and Trust Company, 133 CoopProperty Sold for $50 Per er street, 35 by 115 feet. February 15. $1,300-William Rawling to Equitable Mortgage and Trust Company, 129 Coopnch-Sewage Troubles Iner street, 35 by 115 feet. February 15. Receiver's Deed. erest Real Estate Dealers. $5-Central Bank and Trust Corporation as receiver of Neal bank to J. H. Porter et al., lot 59 by 150 feet, northOther Activities of the Day. west corner Forrest and Piedmont avenues. February 19. Bonds For Title. $2,500 Penal Sum-Thomas Realty Compiece of Peters street property sold pany to Charles Henry Murray, 240 ay by the front inch, probably the Humphries street, 30x101 feet. February time this has ever happened in the 15, 1913. tory of Atlanta real estate. Five $4,300 Penal Sum-Mrs. Susie T. Griffin hes on Peters street, between Jeanto Mrs. M. J. Bell and C. A. Bell, Jr., 7 te and Walker streets, sold for $250, Bryan street, 43x130 feet. Transferred to $50 an inch. The seller was H. C. C. A. Bell, Jr., February 17, 1913. June 21, 1909. ith, a jeweler at 241 Peters street, $1,000 Penal Sum-Pearson-Jones Lumeast of the Farmers and Traders ber Company to Miss Ella Brown, lot ak, and the buyer was W. H. Bowen, 50x151 feet, east side Acorn avenue, 600 merchant east of Smith. The fivefeet north of Mayson avenue. September 12, 1911. h strip, it is said, was wanted for a or for easement purposes. $5,225 Penal Sum-Mrs. Venia L. RegenMr. Smith should pay a real estate stein and Mrs. Beulah L. Bowles to Charles Franklin, 20 and 24 Mayes street, ent's commission it would be $12.50 100x100 feet. February 18, 1913. the regular rate, and if Mr. Bowen $2,250 Penal Sum-George H. Seal to sists on examining Mr. Smith's title Lynn W. Hudson, Jr., lot 45x120 feet, will cost him an additional $10 or so north side Boulevard circle, 340 feet east lawyer's fees. The name of the real of Boulevard. January, 1913. tate firm handling the transaction $6,500 Penal Sum-Grace E. O'Brien to Mrs. M. K. Daly and John N. Malone, 256 as not divulged. The sale of five inches reminded realLuckie 1913. street, 23x81 feet. February 15, men today of the sale recently of Irteen feet on Marietta street and of Mortgages. one-foot frontage which the $500-Montefiore Selig to Georgia Inlouse that Jack Built" has on Peachvestments (Inc.), lot 55x143 feet, west at the intersection of Forsyth. side Marion avenue, 194 feet south of Central Peachtree inches would cost Ormewood avenue. February 18, 1913. $1,500-Mrs. Georgia Isom to T. L. 33.33 each, but not many are on the Francis, 51 Glenn street, 100x130 feet. arket. February 15, 1913. Dealers in property are watching Liens. sely the discussion of sewage in $308-Godfrey Mosaic-Tile Company vs. achtree creek and the influence of R. V. Connerat, 532 West Peachtree rtilizer factories on north Fulton street, 57x154 feet. February 18, 1913. $439-Beck & Gregg Hardware Company operty. This is an old discussion, it is of enough importance to en1913. vs. same, same property. February 18, considerable attention any time is mentioned. The odors arising in Quitclaim Deeds. mmer time from Peachtree creek and $5-Hugh Richardson to Eugene and presence of the fertilizer plants Fair Dodd, 45 West Baker street, 58x168 ve injured adjacent property, accordfeet. February 18, 1913. to the owners, and real estate men $6,250-John H. Inman to same, same property. February 14, 1913. the locality are watching for a $2,700-Mrs. Blanche H. Mecaslin to ance to abate the alleged nuisance. Mrs. Annie S. Morris, lot 50x190 feet, west only a question of time, say those side Washington street. 100 feet south of terested, before Peachtree creek shall Georgia avenue. February 17, 1913. purged and the fertilizer factories have to move to manufacturing Sheriff's Deed. ctions. Hundreds of acres of splendid $100-H. J. Cranshaw (by sheriff) to nd could be opened up. Mrs. M. A. Sage, lot 70x200 feet, southeast corner Hampton and Ethel streets. February 10, 1913. Building Permtis. W Lindsey Ponlar street one


Article from Atlanta Georgian, February 19, 1913

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Article Text

Receiver's Deed. $5-Central Bank and Trust Corporation as receiver of Neal bank to J. H. Porter et al., lot 59 by 150 feet, northwest corner Forrest and Piedmont avenues. February 19.


Article from Atlanta Georgian, September 25, 1913

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Article Text

NEAL BANK WILL PAY A DIVIDEND NEXT MONTH Depositors Will Be Given About Four Per Cent-Receivers Raise Money on Assets. Neal Bank depositors will receive. between November 1 and 15, a dividend of 3 1-2 or 4 per cent of the amount they had in the institution the day it failed, December 23. 1907. The Central Bank and Trust Corporation is winding up the affairs of the Neal Bank. It has collected from the assets of the defunct institution about $70,000. There remains owing to depositors $678,000. "The depositor who had $100 in the bank when it falled already has recelved $65. and has $35 still due. In November he will get $3.50 or $4," says A. P. Coles vice president of the Central Bank. "Judge Pendleton asked Monday for a statement of the condition of the Neal Bank. It was furnished to him. He has issued no formal order of court. but has intimated strongly that he desires a dividend paid and that he will issue an order by the date named He thus notified our attorneys late Tuesday afternoon." There are approximately 7,000 persons who were depositors in the Neal Bank. The last dividend to them, bringing the amount paid up to 65 per cent of their total claims, was paid in May. 1912. Thompson. of Candler. Thompson & Hirsh. attorneys for the receivers, said: "It is an expensive and laborious 1 task to pay a dividend for the Neal Bank. It necessitates the writing of 7,000 checks and careful verification of every account. It costs 80 much that we intended waiting a few months more, when we hoped to pay a 10 per cent dividend, reducing the amount still due to 25 per cent of the total. But depositors have besieged the judge and us and flooded us with letters. Judge Pendleton thereupon called for the report, and asked us to pay what we can now, amounting to 3 1-2 or 4 per cent of the total. "It is costly, out of proportion, to pay 80 small a dividend but the demands of the depositors show clearly that they prefer this small amount now. in spite 01 the expense," Total deposits of the Neal Bank when it failed were approximately $2,000,000. out of total liabilities of $3,000,000.


Article from Atlanta Georgian, January 8, 1914

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Article Text

Receiver's Deed $1,750-Central Bank and Trust Corporation as receiver of Neal Bank to G. W. Chamlee, lot 53 by 210 feet, east side Crew street, 157 feet north of Fulton street. January 6.


Article from Atlanta Georgian, January 8, 1914

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Article Text

Receiver's Deed $1,750-Central Bank and Trust Corporation as receiver of Neal Bank to G. W. Chamlee, lot 53 by 210 feet, east side Crew street, 157 feet north of Fulton street. January 6.


Article from Atlanta Georgian, January 8, 1914

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Article Text

Receiver's Deed $1,750-Central Bank and Trust Corporation as receiver of Neal Bank to G. W. Chamlee, lot 53 by 210 feet, east side Crew street, 157 feet north of Fulton street. January 6.


Article from Atlanta Georgian, January 9, 1914

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Article Text

Receiver's Deed $1,750-Central Bank and Trust Corporation as receiver of Neal Bank to G. W. Chamlee, lot 53 by 210 feet, east side Crew street, 157 feet north of Fulton street. January 6.