Exchange Bank - Fort Valley, GA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: August 2, 1924
Location: Fort Valley, Georgia (32.554, -83.887)

Metadata

Model: gpt-5-mini
Short Digest: 52ac299f

Response Measures

None

Description

Article (Atlanta Tri-Weekly Journal, 1924-08-05) states the 'failure of the Exchange bank, of Fort Valley.' No run or depositor panic is described; article discusses appointment of a permanent receiver for Dr. Wright's estate (he had been president) and links the estate as heavily involved in the bank's failure. The item gives Aug 2 as the date of the court order; the bank itself is reported as failed/closed with a receiver implied. Bank classification (state/national) not specified in the text.

Events (1)

1. August 2, 1924 Receivership

Newspaper Excerpt: The estate is said to be heavily involved in the failure of the Exchange bank, of Fort Valley.
Source: newspapers

Newspaper Articles (1)

1. August 5, 1924 Atlanta Tri-Weekly Journal Atlanta, GA

Article from Atlanta Tri-Weekly Journal, August 5, 1924

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Article Text

Permanent Receiver Of Dr. Wright Estate Appointed by Court MACON, Aug. 2.-An order appointing A. C. Riley permanent receiver of the estate of the late Dr. W. C. Wright, of Fort Valley, was signed here Saturday by Judge Malcolm Jones, of the Bibb superior court. This action was taken in response to a petition filed by W. M. and George C. Wright, sons of Dr. Wright and executors of the estate, in which they asked that the assets be distributed among the creditors according to priority claims. It is estimated that the debts of the estate total $225,000, while the assets are said to amount to $175,000. The estate is said to be heavily involved in the failure of the Exchange bank, of Fort Valley, of which Dr. Wright was president be. fore his death. D. C. Strother, of Fort Valley, who was appointed temporary re. ceiver of the estate, resigned, claim. ing that his personal affairs did not give him time to attend to the duties as receiver.