Capital Bank - Macon, GA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 1, 1891*
Location: Macon, Georgia (32.841, -83.632)

Metadata

Model: gpt-5-mini
Short Digest: d0d5a35c

Response Measures

None

Description

Article (dated 1898-02-20) reports that Capital Bank of Macon failed in 1891 and is being wound up; a receiver had been appointed earlier and commissioners were named in 1898 to liquidate assets. No run is mentioned; failure was caused by heavy loans/exposure to the Macon Construction Company.

Events (2)

1. January 1, 1891* Receivership

Newspaper Excerpt: The Capital Bank failed in 1891. Its collapse was a consequence of the appointment of a receiver for the Macon Construction Company, which wrought ruin around Macon for some time.
Source: newspapers

2. February 19, 1898 Other

Newspaper Excerpt: Miller Gordon ... has been relieved as receiver for the Capital Bank of Macon, and Washington Dessau, Isaac Hardeman and Warren D. Nottingham have been appointed commissioners to wind up the affairs of the bank.
Source: newspapers

Newspaper Articles (1)

1. February 20, 1898 The Morning News Savannah, GA

Article from The Morning News, February 20, 1898

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Article Text

MACON'S BROKEN BANK. Three Commissioners Appointed to Wind Up Its Affairs. Macon, Ga., Feb. 19.-Miller Gordon, who was recently arrested in connection with the Macon Improvement Company, has been relieved as receiver for the Capital Bank of Macon, and Washington Dessau, Isaac Hardeman and Warren D. Nottingham have been appointed commissioners to wind up the affairs of the bank. The Capital Bank failed in 1891. Its collapse was á consequence of the appointment of a receiver for the Macon Construction Company, which wrought ruin around Macon for some time. The failure of this bank is the only bank failure that has been recorded in Macon at any time through all the financial panics of the '90s. The bank had trusted too heavily to the future of the Macon Construction Company, and a large amount of money had been loaned out on their securities. Yesterday it was announced that depositors would receive a 5 per cent. dividend, with a prospect of realizing more on the securities in the hands of the receivers.