3070. Merchants & Miners Bank (Tallapoosa, GA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
May 23, 1892
Location
Tallapoosa, Georgia (33.745, -85.288)

Metadata

Model
gpt-5-mini
Short Digest
853d9a60

Response Measures

None

Description

Multiple contemporaneous newspaper dispatches (May 23–25, 1892) report the Merchants & Miners Bank of Tallapoosa being placed in the hands of a receiver after a state bank inspector found irregularities; the vice-president was arrested for violating state banking law. No run or depositor panic is mentioned. The placement in a receiver's hands implies permanent closure/receivership.

Events (2)

1. May 23, 1892 Receivership
Newspaper Excerpt
The Merchants' and Miners' bank of this place was to-day placed in the hands of Bookkeeper Gilbert as receiver. Vice President Spencer has been placed under arrest charged with being instrumental in violations of the state banking law, which prohibits a loan of over 10 per cent. of the capital to any one firm.
Source
newspapers
2. May 23, 1892 Suspension
Cause
Government Action
Cause Details
State bank inspector discovered irregularities and violations of state banking law (improper large loans); bank placed in receiver's hands.
Newspaper Excerpt
The Merchants' and Miners' bank of this place was to-day placed in the hands of Bookkeeper Gilbert as receiver. An inspection by the state bank inspector showed irregularities.
Source
newspapers

Newspaper Articles (10)

Article from The Morning News, May 24, 1892

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Article Text

Tallapoosa's Bank in Trouble. TALLAPOOSA, GA., May 23.-The Merchants' and Miners' bank of this place was to-day placed in the hands of Bookkeeper Gilbert as receiver. An inspection by the state bank inspector showed irregularities. Vice President Spencer has been placed under arrest charged with being instrumental in violations of the state banking law, which prohibits a loan of over 10 per cent. of the capital to any one firm.


Article from The Olympia Tribune, May 24, 1892

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Article Text

TELEGRAPHIC TALES. At Southampton arrived the Weiland and Bremerhaven, from New York. In Montevidio, there are rumors that the Brazilian cruiser Bahia has been foundered at sea. Phylloxera has appeared in eleven provinces of Spain. Greatinjury has been done in the vineyards, especially in Gerona. In Dublin, Timothy Harrigan, the Parnellite member of parliament, is soon to be married to a daughter of the late Dr. O'Neill. In consequence of irregularities, the Merchants' and Miners' bank of Tallapoosa, Ga., has been placed in the hands of a receiver, and Vice President Spencer arrested. Colonel C. A. Broadwater died this morning, at Helena, Montana. He was president of the Montana Central division of the Great Northern, and president of the Montana National bank. He was largely interested in other enterprises, and a member of the democratic national committee. At Quebec the attorney-general has laid new criminal information against exPremier Mercier for alleged malfeasance in office, for retaining monies out of the subsidies voted by parliament to the Baie de Choleurs railway, Hereford railway and Ottawa Colonization railway. At Charlotte, N. C., the third party resolved to present the name of L. L. Polk, president of the farmers' alliance, to the national convention of the people's party at Omaha, as a candidate for president. In Paris it is learned that Thomas O'Brien, a noted American bunko man, has been arrested at Hvare on his arrival from New Orleans, on a telegram from Secretary Blaine, but the police, despite the warning that he is a dangerous man, allowed him to take a walk. He has not been seen since.


Article from The Wichita Daily Eagle, May 25, 1892

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Article Text

A RECEIVERSHIP. TALLAPOOSA, Ga., May 24.-The Merchants and Miners bank of this place was yesterday placed in the hands of a receiverVice Presidedt Spencer has been arrestedcharged with being instrumental in viola. tions of the state banking law, which pro, hibits the loan of over 10 per cent. of the capital to any one firm.


Article from The Morning Call, May 25, 1892

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Article Text

CONDENSED TELEGRAMS. The Nicaragua Canal Company will soon bring out its big issue of bonds in small denominations. Patrick Fitzpatrick was hanged at Pittsburg, Pa., yesterday for the murder last September of Samuel Early in a drunken row. Blaine drove yesterday to the Damrosch House in New York and saw for the first time his youngest grandchild. It is expected that Edward P. Deacon will be pardoned July 14, Bastile day. Phylloxera has appeared in 11 provinces in Spain. Great injury has been done to the vineyards, especially in Gerona. Timothy Harrington, the Parnellite member of Parliament, is soon to be married to the daughter of the late Dr. O'Neill of Dublin. The Merchants' and Miners' Bank of Tallapoosa, Ga., has been placed in the hands of a receiver and Vice-President Spencer has been arrested. Anti-Christian disturbances have again occurred in Manchooria and in districts bordering on Tonkin. One Chinese official is reported to have been killed.


Article from The Seattle Post-Intelligencer, May 25, 1892

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CONDENSED DISPATCHES. General John C. New, consul-general to London, called on President Harrison on Tuesday. There are rumors at Montevideo of the wreck of another Brazilian man-of-war, the cruiser Bahia. The Democrats of the Fourth congressional district of Kansas are trying to combine with the People's party. The president has approved the act for the term of the United States circuit court and district court at Evanston, Wyo. Henry C. Rowe has been elected president, J. Waldo vice president and Charles G. Hedge secretary and treasurer of the Kansas & Texas road. The trial of Colonel Munoz, one of Garza's lieutenants, ended at San Antonio, Tex., on Tuesday evening and a sealed verdict was returned. George W. Swigart, an old resident of South Bend, Ind., paid $7,000 to gain knowledge of the gold brick scheme on Monday. The swindlers escaped. In the Napa, Cal., murder trial Sherift George S. McKenzie testified to bringing Schmidt from Denver and the latter's confession of the details of the crime. Patrick Fitzpatrick, mixed tramp and laborer, was hanged at Pittsburg on Tuesday for the murder last September of Samuel Early in a drunken row. While firing a salute in honor of the editorial visitors at San Francisco on Tuesday, Private Fred C. Wells, Battery A, N. G. C., had his left arm blown off. Karsay, who is a Hungarian noble and a rich Jew, was mortally wounded on Tuesday in a duel, near Buda-Pesth, by Baron Aczel, a member of the Hungarian diet. John Lynch, who was struck over the head with a shovel by Thomas Callinan at Sacramento, Cal., on Saturday last, is dead, and the latter will be arrested for murder. The five survivors of the lost Brazilian warship Solimoes arrived at Rio on Tuesday and say that the ship exploded shortly after striking a sunken rock on the Uruguay coast. Thomas O'Brien, the bunco king, who recently escaped from a New York prison, was traced to Havre, and arrested there, but owing to the carelessness of the officers he again escaped. The Merchants' and Miners' bank of Tallapoosa, Ga., is now in the hands of a receiver and its vice-president, R. L. Spencer, is under arrest, due to the discovery of irregularities. The bank is capitalized at $60,000. The delegates to the editorial convention at San Francisco were given an excursion on the bay on Tuesday. As the vessel they were on passed the various fortified places they were saluted by firing of cannon, and vessels in the bay dipped their flags. Constable Oberlander, of San Diego, Cal., who had crossed the Mexican line to arrest a man on a warrant and was captured, and afterward broke jail, crossed the American line to Tia Juana, and was foreibly taken from there by Mexicans, has been released and allowed to return to Tia Juana. Both governments will investigate the case.


Article from Los Angeles Herald, May 25, 1892

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Article Text

A Bank Official Arrested. TALLAPOOSA, Ga., May 24.-In consequence of irregularities, the Merchants' and Miners' bank has been placed in the hands of a receiver, and Vice-President Speneer arrested.


Article from Evening Journal, May 25, 1892

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Article Text

Vice President Spencer Arrested. TALLAEOUSA Ga., May 25.-The Merchants and Miners' bank has been placed in the hands of a receiver. Vice President Spencer has been arrested, charged with violating the state banking law.


Article from The Austin Weekly Statesman, May 26, 1892

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Article Text

Crooked Banking. TALLAPOSA, Ga., May 24.-The Merchants and Miners Bank of this place, was yesterday placed in the hands of Book keeper Gilbert as receiver. An inspection by the state bank inspector showed irregularities. Vice President Spence has been put under arrest charged with being instrumental in violations of the state banking law which prohibits a loan of over 10 per cent of a bank's capital to any one firm.


Article from Daily Tobacco Leaf-Chronicle, May 26, 1892

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A London cable says it is extremely doubtful that Ted Pritchard and Bob Fitzsimmons will meet in September for the purse offered by the New Orleans club. Pritchard claims that he would not have sufficient time in which to. train. The Albert medal of the London Society of Art has been awarded to Thomas A. Adison for electric lighting, the telegraph and the telephone. Among former holders of the medal were Faraday, Liebig, De Lesseps, Bessemer and Helmholtz. The Merchants' and Miners' bank, of Tallapoosa, Ga., has been placed in the hands of Book-keeper Gilbert, as receiver. An inspection by the state bank inspector showed irregularities. Vice President Spencer has been placed under arrest. Colonel Albert Pope, of Boston, offers a reward of $500 for the apprehension and conviction of the person or persons who maliciously stretched barbed wire across the path of the bicyclers-in the relay race from Chicago to New York, and maliciously cut the tires of the bicycles. Red Cedar Lake, Wis., is again agitated by the long tale of a monster, which has lain dormant during the cold months. A farmer lost five valuable sheep by the visit of the varmint. Their mangled forms were found in the mud, partly devoured. It is supposed to be a monster mud turtle.


Article from Semi-Weekly Interior Journal, May 27, 1892

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Clark from drowning, Thomas Dawson and George Trapp lost their lives near North Vernon, Ind. -The Senate has passed a bill appropriating $20,000 for a statute of Robert Dale Owen, to be placed in the grounds of the Smithsonian Institution. -Lem Cooper, of Sharpsburg, stole a horse and was eaptured, indicted, tried con victed and sentenced to two years in the penitentiary, all on the same day. -Jacob Donner and William Clemens, while attempting to control a fractions stallion at Astoria, III., were so severely kicked that it is thought they will die. -Messrs C. C. McChord, Urey Wood son and C. B. Poyntz have qualified as the new Board of Railroad commissioners. Mr. McChord was made Chair man. -Final efforts to secure Democratic harmony in Louisiana have failed. Two conventions have been called and contesting delegations will be sent to Chicago. -A 12,000 barrel reservoir of oil, owned by the Standard Oil Co., exploded near Whiting, Ind. A number of workmen were injured and the shock was felt for 30 miles around. -The fast filly, Deer Foot, winner of the Hurstbourne stakes at the recent Louisville meeting, was killed at Latonia during a race by running into a fence and crushing her skull. -George Westinghouse has been awarded the contract to furnish the electric plant on the World's Fair Grounds. He to install 92,622 lamps, with alternating current, for $399,000. -The New Era is the name of a republican paper to be started at Greensburg. About June 1, J. B. Hurst will begin the publication of a republican pa per at Harlan Court House. -Cassius M. Taylor, a wealthy farmer of Madison, attempted suicide by shooting himself through the head. It is claimed that marital troubles caused him to do the rash act. He cannot live. -It is estimated that Dr. Keeley has already accumulated between three or four millions of dollars from the cld topers, whose appetites he has been endeavoring to reform with the gold cure. -Near Cynthiana Robert Fowler rode to the house of James May and calling him to the door, shot him in the face with a shot gun, killing him instantly. They had been at outs for a long time. -James Christopher, a farm hand near Mt. Vernon, O., overturned a rock which covered a lot of copperhead snakes and was attacked by them. He was badly bitten and when rescue came two had encircled his body. -R. L. Spencer, vice-president of the Merchants' and Miners' Bank. of Tallapoosa, Ga., is under arrest because of some queer financial operations, and the bank is in a receiver's hands. Most of the stock is owned in Louisville. a -The citizens of Memphis will send a steamboat-load of supplies to the Arkt ansas flood sufferers at the request of the Governor ef Arkansas. erops of 4,000 laborers are destroyed in Arkansas, and Arkansas City iscompletely unIl der water. -Senator Hill, who was in New York = a few daysago, declined to be p but in reply to a message regarding a report that be was preparing a letter of p withdrawal, answered that he "would e henceforth ignore canards spread abroad by republicans." -Gov. Brown received a petition from V one of the mountain counties, asking C that the sentence of a month's imprisJ onment, imposed upon one William L Johnson, for stealing an ax, be suspended, so as "to allow him to plant his di crops." The request was refused. J -By an explosion of gas the business in house of Bray & Landrum, Louisville, m caught fire, causing a loss of $100,000. The stock was completely destroyed. It C was valued at $80,000 and was insured at for $60,000. The building, valued at $40,W 000, was the property of the J. B. Wilder da estate. It was damaged about $20,000, ei fully insured. ha -The Arkansas flood has caused vi much suffering, but government boats fo are furnishing food and succor to many half-starved people. The cotton crop by along the Arkansas river is ruined. The W levee at Tessire's Home Plantation, in ve Louisiana, has broken and plantations su are being rapidly submerged. al -Miss Amy Johnson, a popular young sa ady of Yellow Springs, Ohio, will start to n a few days for Davenport, Iowa, on a cit bicycle. She is the daughter of well-tofu lo parents, very beautiful and at presh ent is teaching school. She has been mbeel for about a year and is a