3005. First National Bank (Rome, GA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
2368
Charter Number
2368
Start Date
March 26, 1881
Location
Rome, Georgia (34.257, -85.165)

Metadata

Model
gpt-5-mini
Short Digest
01d0a867

Response Measures

None

Description

Two independent Wilmington papers (Mar 29 and Mar 31, 1881) report the First National Bank of Rome, Georgia suspended on Saturday and list large liabilities and nominal assets expected to be reduced on correct valuation—consistent with a suspension due to insolvency. No reopening or receivership mention is present in these clippings, so classified as suspension_closure.

Events (2)

1. August 22, 1877 Chartered
Source
historical_nic
2. March 26, 1881 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Reported large liabilities and nominal assets likely overstated; expected reductions on correct valuation (insolvency/poor asset quality).
Newspaper Excerpt
The First National Bank of Rome, Georgia, which suspended on Saturday, is reported to have liabilities, exclusive of the capital stock, amounting to $165,662. Its assets are nominally $221,500, an amount which it is expected will be greatly reduced on a correct valuation.
Source
newspapers

Newspaper Articles (2)

Article from The Daily Gazette, March 29, 1881

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Article Text

General News. The President yesterday nominated Wm. H. Craig, the present postmaster at Albany, New York, for a further term of four years. General Adam Badeau has positively declined the position of Charge d' Affaires to Denmark, and the Presi dent will send another nomination to the Senate in a few days. Ms. Hugh J. Jewett has declined the office of President of the New York World's Fair Commission. The Supreme Court of the United States was again without a quorum yesterday, Justice Field being absent on account of the death of his motherin law. A large wood fire was raging yesterday between Gloucester and Rockport, Massachusetts. Forest fires were also burning on the mountains near Wilkesbarre, in Pennsylvania, last night. Joel H. Guy died yesterday, in Meriden, Connecticut, aged 78 years. He was President of the First National Band and the City Savings Bank of Meriden, and also of the National Bank of Middletown. The First National Bank of Rome, Georgia, which suspended on Salu day, is reported to have liabilities, exclusive of the capital stock, amounting to $165,662. Its assets are nominally $221,500, an amount which it IS expected will be greatly reduced on a correet valuation. In the U. S. Senate yesterday, Mr. Mahone, of Virginia, spoke at length in explanation and justification of his position. When he had finished, he was warmly congratulated by Senators Conkling, Sherman, Dawes and others on the Republican side. After some filibustering, the Senate adjourned. Mr. Dawes saying that he hoped the other side would come to-morrow prepared to finish this business and go on with the executive business. F. Schofield, County Treasurer at Brookville, Ontario, has resigned, in consequence of his cash account being about $7000 short. His sureties will pay the money.


Article from Delaware State Journal, March 31, 1881

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Article Text

IN ENERAL. reduction of the public debt officials this The is estimated by Treasury month at not less than five millions journeymen house painters of for New an The will strike on April 4th advance York of wages to $3 per day. Harlan P. Hale has been arrested New Haven for attempting to by poison puttin whole family named Sanborn, strychnine in their tea kettle. reported that a military expedition in It is columns is being organized hostile in three the exterminatic of the State of Mexico Indians for about Santa Rosa in the Coahuila. Indian charged with killing a stock An named Kerstler, at a California,was mining-camp raiser Bernardino county, a in San from jail, a few days ago, by taken masked mob and lynched. cotton compress of James L. The on the Boston Steamship Com- was Hanney wharf, in Norfolk, Virginia, with 950 of bales cotton, pany's destroyed by fire Sunday belonging night, to different parties. Benjamin Blanchard, of Philadelphia, for the clerk or book- keeper in the formerly Exhibition, died BaltiPermanent University Hospital, in more, Maryland Tuesday night, under circumstances indicating suicide. A telegram from Ottawa says instruc- the have been sent to intercept tions Australian, at Sable Island, has Nova steamer being supposed that she House on Scotia, board one or it more of the Mansion conspirators. Engine No. 10, the largest the Pennsyl in the United States, was Monday put on at New Bruns and New York. wick. vania railroad It will run between Philadelphia manhead of puddling furnace Monday in The Ohio, blew out Youngstown, and 12 men were injured, three of morning, them seriously, by flying debris and escaping steam. contract has been made for the repair- and A ocean pier at Long Branch, The ing of the outward 1,000 feet. work, its extension expected, will be completed by the 10th of May Albert C. Bogert, of Paterson, with New his celebrated, Monday, children, Jersey, grandchildren, great one hundredth and greatgreat-grandchil dehildren, the anniversary of his birth. House Inspector MacDougal Mon and Light persons were drowned two day other morning while steamer attempting off Mendocino to go Light, ashore on from the California coast. While preparations were schooner making for at launching of a repaired the the Run, Nova Scotia, Tuesday, and Jordan blown over by the wind one vessel fell upon was the men beneath, killing and injuring two others. an Jones, aged woman, Ann Eliza herself in Bridgeport, Ohio, the on hanged night. A few hours before Friday made will giving her body suicide physician she in payment of debt claim of the body to a 817. It is said the physician will Alonzo Bobb was fatally stabbed by at Osborne, in dance-house, Osborne Walla Richard Walla, Washington was Territory arrested on few nights ago. Saturday afternoon, and on night Saturday he was taken from the jail by mob and lynched. First National Bank of Rome, is Georgia, The which suspended on Saturday, exclusive reported to stock, have amounting liabilities, to $165,562. capital nominally $221 500, an be which Its assets are it is expected will amount reduced on correct valuation. greatly Rodanow, alias Dr. Nathan Alexander convicted in Boston, Tuesday, Ganz, was the mails with intent to valuable defraudof using was 'to advertise also His method a nominal price. called He the watches at Socialist paper new established Anarchist. His counsel has moved a trial. Joseph and William McGadey, brothers, were respectivel 19 and 22 years, aged in Norristown on committed Thursday arrested on the charge of having night, at Valley Forge. Joseph was the murder there being no idence against exami released, him, but William is held for an nation. A skull was Norwich, found by Connecticut, boys at Trading on near which led to the discovery was of Monday, body of man. The Barber body the entire by woman named disappeared identified husband, who fit of that more of than her three years ago, in a from insanity. The following bonds were stolen at Catby masked burglars John Conner Penna. on Wednesday night Nos. fish, Valley railroad 7-30s, each Allegheny 2783, 2784 and 2785 of 81000 of $100 2782, 3572, 3573 and 3574 income, Nos. Bend Bridge Company 103 104 of $250. bonds, each Nos. Brady 13, 14, 15. 16, 100, 102, McKenney was shot dead by Ira on Seth quarrel at Gilman, Ind. Miller, in night. Timothy Kearney Fagan way Monday lited Lawrence laid and on Monday at Ferryvi ived Connecticut, shot from Fagan, day morning. from night, the and effects of which he died Tuesthree-story building, partly used brick form- and frame in Jersey City, partly foundry but recently inerly as an be iron altered for tenement purweek tended tumbled down yesterday who within. poses, burying in its ruins three George carpenters Hummell were fatally at work injured and died in a few was minutes after being taken out. Monday evening the last spike Shenan- was driven from at Luray, completing the gerstown, Valley railroad Virginia, doah Waynesboro' & Maryland, to Chesapeake with the from where it connects Through trains Ohio railroad will be runHagerstown to Waynesboro' This road ning by the 15th proximo. independent line for opens business a between new and the Atlantic coast and the South and Southwest. Seven masked ruffians Thursday entered years, house of John Conner, aged Catfish, 81 the lives alone with his wife at bound and the couple, place who 50 miles from compelled Pittsburg the old genof his tleman gagged to give up the combination worth of took from it 85,000 safe, and bonds, unregistered coupons, Government .000 in cash. The people were not and roughly over handled that they may recover from the shock. a healthy young Sunday tinner, night died While James from holding Little, the effects glass of of drinking his beer. lips he suddenly began down to beer to breath, his head hung he gasp his for breast and few moments which he upon The cold beer and drank was a partly corpse. paralyzed became the of stomach, proper tembefore the to be beer absorbed into the formation system, perature it began to ferment, causing a gradually acid gas. The gas brain, of carbonic the heart, lungs and overpowered and paralyzed the entire nervous system, uning death