2903. Bank of Ideal (Ideal, GA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 21, 1913
Location
Ideal, Georgia (32.370, -84.188)

Metadata

Model
gpt-5-mini
Short Digest
db57e21d

Response Measures

None

Description

Articles from March–April 1913 report the Bank of Ideal was declared insolvent by the state banking department, closed and placed in the hands of the state bank examiner, and a receiver was sought. There is no mention of a depositor run; sequence indicates suspension/closure with receiver (government action).

Events (3)
1. March 21, 1913 Suspension
Cause
Government Action
Cause Details
State banking department report declared the bank insolvent; governor directed attorney general to apply for a receiver.
Newspaper Excerpt
STATE ORDERS BANK CLOSED AS INSOLVENT ... the bank of Ideal, Macon-county, Georgia, was declared as insolvent and unable to continue business, Governor Brown to-day directed Attorney General Felder to make application for a receiver for the institution.
Source
newspapers
2. March 23, 1913 Receivership
Newspaper Excerpt
RECEIVER ASKED FOR BANK OF IDEAL ... Attorney General Thomas S. Felder appeared before Judge Z. A. Littlejohn yesterday, asking the apointment of a receiver for the Bank of Ideal in Macon county, to the end that its affairs may be wound up, the bank at present being in charge of the state bank examiner. Judge Littlejohn granted a rule nisi and cited the directors to appear ... to show cause why the petition for a permanent receiver should not be granted. The bank involved is a small one. (Americus Times-Recorder, 1913-03-23).
Source
newspapers
3. April 11, 1913 Other
Newspaper Excerpt
BANK OF IDEAL MAY ADJUST ITS AFFAIRS Now in Hands of State Bank Examiner ... the suspended Bank of Ideal, which closed recently, and is now in the hands of the state bank examiner pending an application for receiver.
Source
newspapers

Newspaper Articles (4)
1. March 21, 1913 Atlanta Georgian Atlanta, GA
Article from Atlanta Georgian, March 21, 1913

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Article Text

STATE ORDERS BANK CLOSED AS INSOLVENT On the basis of a report made by a representative of the state banking department in which the bank of Ideal, Macon-county, Georgia, was declared as insolvent and unable to continue business, Governor Brown to-day directed Attorney General Felder to make application for a receiver for the institution. The attorney general will ask Judge Z. A. Littlejohn, of the southwestern circuit, to-morrow to set a day when arguments may be made for the appointment.

2. March 23, 1913 Americus Times-Recorder Americus, GA
Article from Americus Times-Recorder, March 23, 1913

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Article Text

RECEIVER ASKED FOR BANK OF IDEAL Attorney-General Felder Here Yesterday Attorney General Thomas S. Felder appeared before Judge Z. A. Littlejohn yesterday, asking the apointment of a receiver for the Bank of Ideal in Macon county, to the end that its affairs may be wound up, the bank at present being in charge of the state bank examiner. The bank has a capital stock of $25,000 only, and upon the report of the examiner regarding its condition a receivership has been asked for in the superior court. After hearing from Attorney General Felder yesterday upon the subject, Judge Littlejohn granted a rule nisi and cited the directors to appear before him here next Saturday to show cause why the petition for a permanent receiver should not be granted. Ideal is a village in Macon county, near Oglethorpe, and the bank involved is a small one.

3. April 11, 1913 Americus Times-Recorder Americus, GA
Article from Americus Times-Recorder, April 11, 1913

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Article Text

BANK OF IDEAL MAY ADJUST ITS AFFAIRS Now in Hands of State Bank Examiner Mr. G. L. Williams returned yesterday from a business visit of two days at Ideal, Ga., where he went to look after the interests of relatives in the affairs of the suspended Bank of Ideal, which closed recently, and is now in the hands of the state bank examiner pending an application for receiver. This application was made before Judge Z. A. Littlejohn here recently, and a date fixed at which time the directors of the bank might appear be fore him and show cause, if any, why the receivership desired should not be granted. The bank had a capital stock, originally, of $25,000, and as the available assets are considerable, Mr. Williams hopes that conditions may not really be so bad for the depositors and stockholders as now appears, provided that obligations due the bank are collected promptly.

4. April 11, 1923 Americus Times-Recorder Americus, GA
Article from Americus Times-Recorder, April 11, 1923

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Article Text

TEN YEARS AGO TODAY (From the Times-Recorder, April 11, 1913.. G. L. Williams returned yesterday from a business visit of two days at Ideal, Ga., where he went to look after the interests of relatives in the affairs of the .suspended Bank of Ideal, which closed recently. The oat crop of Sumter county, which until quite reecntly has been very promising, is now threatened with seriouse damage from rust, is the opinion of some of the growers here, who stated yesterday that rust had appeared in many fields not only in Sumter county, but in other South Georgia counties, and should it spread to any extent the crop may be materially reduced. , Americus has rarely experienced such a boom in house building as at present, and during the past year. Within that time several hundred dwelling houses, large and small, have been bult here and every one of them is occupied. One local company alone, operating upon a small capital, has since December 1st, built and sold fifty-eight dwelling houses. The houses are four to six rooms in size, and the average cost of construction was $1,500. This means an investment by that company alone of $87,000. Master James Holliday is ill at the residence of his parents on Taylor street. His many friends wish for him a speedy recovery.