Union Banking Company

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: December 20, 1930
Location: Douglas, Georgia (31.509, -82.850)

Metadata

Model: gpt-5-mini
Short Digest: cdb2a6a6

Response Measures

None

Description

Article (The Atlanta Journal, 1930-12-23) reports Union Banking Company failed to open for business Saturday and is being reorganized with state auditors on site and plans to set up temporary exchange/clear checks — indicates a suspension with reorganization and intent to resume operations (no explicit run described). Date of suspension inferred as Saturday Dec 20, 1930 from publication date.

Events (1)

1. December 20, 1930 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank failed to open for business and is being reorganized; state auditors arrived to complete audits indicating financial trouble requiring reorganization rather than a run-driven closure.
Newspaper Excerpt: failed to open for business Saturday ... being made to reorganize Union Banking Company at Douglas
Source: newspapers

Newspaper Articles (1)

1. December 23, 1930 The Atlanta Journal Atlanta, GA

Article from The Atlanta Journal, December 23, 1930

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Article Text

Douglas Reorganizes Its Banking Affairs being made to reorganize Union Banking Company at Douglas which with its branches at Broxton Nicholls, failed to open for business Saturday President Moses Griffin he has every surance the men, depositors citizens co-operation to reorganize the Auditors from the State Depart ment arrived Monday and will complete their audits in few days, in meantime the organization be set operaso as to conform to the plans which may be prescribed by the state superintendent of banks, A. B. Mobley Plans are being formed to open up temporary exchange collect and clear such checks as may come through the business channels of the Douglas the present. office money orders are being used remittances and the business men are requesting tions other persons to remit to Douglas by post