3060. Bank of Sparta (Sparta, GA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
May 1, 1921*
Location
Sparta, Georgia (33.276, -82.976)

Metadata

Model
gpt-5-mini
Short Digest
6a2935d2

Response Measures

None

Description

Newspaper articles (July 12, 1921) describe the Bank of Sparta as defunct and that it suspended business more than two months ago. An investigation found conditions so poor that depositors will receive 40% and indictments are likely — indicating a suspension leading to permanent closure/receivership. No run is mentioned.

Events (2)

1. May 1, 1921* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Investigation revealed a bank wreck and poor conditions; indictments likely against prominent businessmen, implying bank-specific malfeasance/insolvency.
Newspaper Excerpt
when it suspended business more than two months ago
Source
newspapers
2. July 12, 1921 Other
Newspaper Excerpt
Depositors of the defunct Bank of Sparta will realize 40 per cent of their demands, according to a statement made by Joseph E. Pottle, attorney for the state banking department, who conducted the investigation of the affairs of the bank when it suspended business more than two months ago.
Source
newspapers

Newspaper Articles (3)

Article from Atlanta Tri-Weekly Journal, July 14, 1921

Click image to open full size in new tab

Article Text

Bank of Sparta May Receive Forty Per Cent of Deposits SPARTA, Ga., July 12 .-Depositors of the defunct Bank of Sparta will realize 40 per cent of their demands, according to a statement made by Joseph E. Pottle, attorney for the state banking department, who conducted the investigation of the affairs of the bank when it suspended business more than two months ago. Creditors were hopeful they would receive full settlement of their demands, but the hope was soon dissipated when conditions were shown. Judge Pottle has said indictments, in all probability, against at least three very prominent business men of this city will result from an investigation of the bank wreck.


Article from Americus Times-Recorder, July 14, 1921

Click image to open full size in new tab

Article Text

# HIGH SPOTS IN GEORGIA NEWS Because he was a member of General Pershing's expedition into Mexico, and because he is in bad physical condition, Louie Bazemore, convicted of violating the prohibition law at Columbus, will not be forced to serve a three months sentence unless he is again convicted. Judge G. Tigner, hearing the defendant's statement that he was partially paralyzed and that he had served his country during the Mexican trouble, stated that he would be lenient with Bazemore by suspending a three months' sentence. Improvements representing a total investment of $100,000, are underway in the Columbus telephone system. The jury in the case of Grover C. Curtis, at Savannah, for the killing of Iris Broom, returned a verdict of manslaughter, fixing the sentence at from two to five years in the penitentiary. Two negroes were on the jury. This is believed to be the first time in Georgia a negro has sat on a jury trying a white man on a charge of murder. Depositors of the defunct Bank of Sparta will realize forty per cent of their demands, according to a statement made by Joseph E. Pottle, attorney for the state banking department. Four persons have been arrested at Milledgeville for the mysterious murder August 16, 1919, of Carl Watson. They are Genie Moran, John Simmons, Jacob Brookins, and Miss Winnie Brookins, sister of one of the men. Indictments were returned as a result of information secured by the sheriff nearly two years of quiet work. Charged with highway robbery, W. D. Surpeon, Columbus, former bailiff of a justice of peace court, has been brought back from Knoxville, Tenn., and will face trial during the August term of Superior court. That an undertaking establishment in a residential section constitutes an abatable nuisance is the decision rendered by Judge R. C. Bell of the Albany circuit Superior court in granting a permanent injunction against the Morrision Funeral home which was about to be opened in Albany by W. F. Morrison. The case will be carried to the Supreme court. J. J. Holloway has been appointed by Commissioner of Agriculture J. J. Brown to succeed Marvin P. Roane, who recently resigned the office of state oil inspector. J. W. Williams, machinist of the Eagle and Pheonix cotton mills at Columbus, fell backward from a dye tub, a distance of four feet to concrete floor late Wednesday and suffered a broken neck, killing him almost instantly. Joseph A. Eve, of Augusta, was run down by an automobile Wednesday night and died shortly afterwards in a local hospital, from internal injuries. With a black streak across the lower part of his neck made by a bolt of lightning, A. W. Tisdale, a Baldwin county farmer, still lives. Tisdale was sowing peas when the bolt descended. Tisdale fell unconscious and lay in the field for twenty minutes before he was able to rise. "Macon people eat thirty tons of honey annually," F. Roger Miller, secretary of the Macon Chamber of Commerce declares. Conductor S. F. Webb, of Valdosta, was killed, and Fireman P. E. Ward, also of Valdosta, was probably fatally injured, when southbound freight train No. 55, on the G. S. & F. struck a cow near Chula shortly before noon yesterday. Engineer C. M. Dunn escaped injury. For using profane and improper language in the presence of his stepdaughter, J. M. Breedon, of Thomasville, has been sentenced to a year in the pen by Judge Thomas.


Article from Americus Times-Recorder, July 14, 1921

Click image to open full size in new tab

Article Text

# HIGH SPOTS IN GEORGIA NEWS Because he was a member of General Pershing's expedition into Mexico, and because he is in bad physical condition, Louie Bazemore, convicted of violating the prohibition law at Columbus, will not be forced to serve a three months sentence unless he is again convicted. Judge G. Tigner, hearing the defendant's statement that he was partially paralyzed and that he had served his country during the Mexcan trouble, stated that he would be lenient with Bazemore by suspending a three months' sentence. Improvements representing a total investment of $100,000, are under way in the Columbus telephone system. The jury in the case of Grover C. Curtis, at Savannah, for the killing of Iris Broom, returned a verdict of manslaughter, fixing the sentence at from two to five years in the penitentiary. Two negroes were on the jury. This is believed to be the first time in Georgia a negro has sat on a jury trying a white man on a charge of murder. Depositors of the defunct Bank of Sparta will realize forty per cent of their demands, according to a statement made by Joseph E. Pottle, attorney for the state banking department. Four persons have been arrested at Milledgeville for the mysterious murder August 16, 1919, of Carl Watson. They are Genie Moran, John Simmons, Jacob Brookins, and Miss Winnie Brookins, sister of one of the men. Indictments were returned as a result of information secured by the sheriff nearly two years of quiet work. Charged with highway robbery, W. D. Surpeon, Columbus, former bailiff of a justice of peace court, has been brought back from Knoxville, Tenn., and will face trial during the August term of Superior court. That an undertaking establishment in a residential section constitutes an abatable nuisance is the decision rendered by Judge R. C. Bell of the Albany rircuit Superior court in granting a permanent injunction against the Morrision Funeral home which was about to be opened in Albany by W. F. Morrison. The case will be carried to the Supreme court. J. J. Holloway has been appointed by Commissioner of Agriculture J. J. Brown to succeed Marvin P. Roane, who recently resigned the office of state oil inspector. J. W. Williams, machinist of the Eagle and Pheonix cotton mills at Columbus, fell backward from a dye tub, a distance of four feet to concrete floor late Wednesday and suffered a broken neck, killing him almost instantly. Joseph A. Eve, of Augusta, was run down by an automobile Wednesday night and died shortly afterwards in a local hospital, from internal injuries. With a black streak across the lower part of his neck made by a bolt of lightning, A. W. Tisdale, a Baldwin county farmer, still lives. Tisdale was sowing peas when the bolt descended. Tisdale fell unconscious and lay in the field for twenty minutes before he was able to rise. "Macon people eat thirty tons of honey annually." F. Roger Miller, secretary of the Macon Chamber of Commerce declares. Conductor S. F. Webb, of Valdosta, was killed, and Fireman P. E. Ward, also of Valdosta, was probably fatally injured, when southbound freight train No. 55, on the G. S. & F. struck a cow near Chula shortly before noon yesterday. Engineer M. Dunn escaped injury. For using profane and improper language in the presence of his stepdaughter, J. M. Breedon, of Thomasville, has been sentenced to a year in the pen by Judge Thomas.