Bank of Thomasville - Thomasville, GA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: May 30, 1909
Location: Thomasville, Georgia (30.839, -83.979)

Metadata

Model: gpt-5-mini
Short Digest: 2651627b

Response Measures

None

Description

Newspapers report arrest of A. D. Oliver (president) and that bank examiners took charge of four banks, finding almost no funds; this indicates a suspension by examiners/government action and effectively closure/receivership. No run or depositor run is described in the articles. Date of examiner action reported May 30, 1909.

Events (2)

1. May 30, 1909 Receivership

Newspaper Excerpt: Examiners took charge of the four banks and they found less than $100 all told. In one bank at Thomasville there was only 56 cents.
Source: newspapers

2. May 30, 1909 Suspension

Cause: Government Action
Cause Details: Examiners took charge of the bank after the arrest of president A. D. Oliver for running a confidence game; insolvency discovered.
Newspaper Excerpt: Examiners took charge of the four banks and they found less than $100 all told. In one bank at Thomasville there was only 56 cents.
Source: newspapers

Newspaper Articles (2)

1. May 31, 1909 The Washington Herald Washington, DC

Article from The Washington Herald, May 31, 1909

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Article Text

GEORGIA BANKER ARRESTED Accused of Running a Confidence Game in Chain of Institutions. Depositors Said to Have Lost $230,000, Which Was Invested in His Private Scheme. Bainbridge, Ga., May 30.-The arrest of A. D. Oliver, president of the bank at Climax, Ga., and of three other banks in this section, has disclosed the fact that the people of Southwest Georgia have been the victims of a confidence game which has cost them probably $250,000. Oliver came here last January and professed to be an Eastern capitalist. He displayed much money and said that he had $5,000,000 on deposit in the banks of New York and elsewhere. He bought timbered lands, saw mills, banks, automobiles, &c. It appears that he would secure cash through deposit in his ba: ks. in which institutions the public had confidence, and with partial payments of cash, usually small amounts, he would buy other properties, giving to him the outward appearance of large holdings. The bubble burst yesterday when Oliver was arrested on a warrant sworn out by a Thomasville man to whom he had given a New York draft for $10,000. The draft came back marked "No funds," and Ollver was arrested. Examiners took charge of the four banks and they found less than $100. all told. In one bank at Thomasville there was only 56 cents. Just a month ago Oliver bought four automobiles and presented them to the cashiers of his four banks.

2. June 2, 1909 Bluefield Evening Leader Bluefield, WV

Article from Bluefield Evening Leader, June 2, 1909

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Article Text

CROOKED BANKER NABBEDIN GEORGIA Accused of Running a Confidence Game in Chain of Institutions Depositors Lost Probably $250,000. Bainbridge, Ga., June 2.-The arrest of A. D. Oliver, president of the bank at Climax, Ga., and of three other banks in this section, has disclosed the fact that the people of southwest Georgia have been the victims of a confidence game which has cost them probably $250,000. Oliver came here last January and professed to be an eastern capitalist. He displayed much money, and said that he had $5,000,000 on deposit in the banks of New York and elsewhere. He bought timbered lands, saw mills, banks, and automobiles, It appears that he would secure cash through deposit in his banks, in which institutions the public had confidence, and with partial payment of cash, usually small amounts, he would buy other properties, giving the outward appearance of large holdings. The bubble burst yesterday when Oliver was arrested on a warrant sworn out by a Thomasville man to whom he had given a New York draft for $10,000. The draft came back marked "No funds" and OIIver was arrested. Examiners took charge of the four banks and they found less than $100 all told. In one bank at Thomasville there was only 56 cents. Just a month ago Oliver bought four automobiles and presented them to the cashiers of his four banks.