2998. Bank of Rome (Rome, GA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
May 13, 1884
Location
Rome, Georgia (34.257, -85.165)

Metadata

Model
gpt-5-mini
Short Digest
6930bc1a

Response Measures

None

Description

Articles describe the Bank of Rome as a former State depository that had suspended and later failed; state sued sureties and collected assets. No mention of a depositor run. The bank remained closed and legal action/collections followed, consistent with suspension leading to permanent closure/receivership.

Events (3)

1. May 13, 1884 Other
Newspaper Excerpt
The Rome Bank case... The effort on the part of the State was to subject the property which had been owned by the sureties on the bond of the Bank of Rome as a State depository. ... The court decided that the State could subject the property in all of the cases except in that of the Smiths. ... No definite information is at hand showing whether the property found subject is sufficient to cover the loss sustained by the State in the failure of the bank.
Source
newspapers
2. January 22, 1885 Other
Newspaper Excerpt
The amount due at the time the bank suspended was $53,017 03, of which the sum of $30,809 50 has been collected out of the assets of the bank. ... There is more than enough property under levy to pay the balance due.
Source
newspapers
3. * Suspension
Cause Details
Bank had previously suspended operations and subsequently failed; cause not described in articles (legal and insolvency aftermath).
Newspaper Excerpt
The property was sold by the sureties previous to the suspension of the bank, and when the bank failed the State issued executions and levied on the property.
Source
newspapers

Newspaper Articles (2)

Article from Savannah Morning News, May 14, 1884

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Article Text

AT THE STATE CAPITAL. The Rome Bank Cases Decided-Dentists in Session-Redwine's Case. ATLANTA, May 13.-The Supreme Court held a session to-day for the purpose of rendering decisions. The only important one was the Rome Bank case, which was docketed as follows: Colquitt, Governor, VS. Simpson & Ledbetter; Colquitt, Governor, vs. J. W. & W. L. Smith; Mathis vs. Morgan. These three were known as the Rome Bank cases. The effort on the part of the State was to subject the property which had been owned by the sureties on the bond of the Bank of Rome as a State depository. The property was sold by the sureties previous to the suspension of the bank, and when the bank failed the State issued executions and levied on the property. The court decided that the State could subject the property in all of the cases except in that of the Smiths. The property involved in the Smith case was purchased from Mrs. Deacon, whose name appears on the list, but who insists that the signature is a forgery. The court decided that this case will have to go before a jury to decide the genuineness of the signature. No definite information is at hand showing whether the property found subject is sufficient to cover the loss sustainod by the State in the failure of the bank. The court adjourned to meet on Monday next, when another batch of decisions will be rendered. Among these it is probable that there will be the Shorter will case, another Southern Mutual Insurance Company case. THE DENTISTS. The State Dental Society is in session here to-day in the basement of the new court house. The attendance was satisfactory, Dr. George A. Winkler, of Augusta, presided as President of the association. The address of welcome was delivered by Dr. Catching, of Atlanta, and the response in behalf of the association was made by Dr. G. P. Campbell, of McDonough. President Winkler delivered the annual address. The association will be in session two days, during which time regular routine busines will be transacted. After the adjournment the association will be banqueted by the local dentists. REDWINE'S CASE. Representative John C. Redwine, of Hall county, reached Atlanta to-day for the purpose, if possible, of securing the release of his son, F. W. Redwine, who is under arrest charged with appropriating to his own use money belonging to Morrison, Bain & Co., for whom Redwine was working as a traveling salesman when he got away with the funds of the firm, It is believed that the case will be compromised by the return of the amount at stake. A meeting of prominent citizens was held here to-day for the purpose of arranging for the entertainment of the delegation of New England editors to arrive here Friday. Committees were appointed, and it was decided to entertain the delegation at private residences in the city. A reception will be given them at the executive mansion.


Article from Savannah Morning News, January 22, 1885

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Article Text

The final decision of the Supreme Court favorable to the State in the case of the sureties of the Bank of Rome, late State depository, will doubtless soon result in the collection of the balance due the State from the defunct bank. The amount due at the time the bank suspended was $53,017 03, of which the sum of $30,809 50 has been collected out of the assets of the bank. There has been a long and tedious legal fight between the State and the sureties, who contended that their liability was discharged by the forgery of the name of Mrs. Deason, one of the co-sureties. There is more than enough property under levy to pay the balance due. It is to be hoped the State will be equally as successful in the matter of the Citizens' Bank of Atlanta, which still owes the snug sum of $57,218 81, and which the Attorney General is hopeful of collecting.