3081. Bank of Unadilla (Unadilla, GA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
July 16, 1926
Location
Unadilla, Georgia (32.262, -83.737)

Metadata

Model
gpt-5-mini
Short Digest
3a27b324

Response Measures

None

Description

Articles (July 15–16, 1926) report the Bank of Unadilla asked for appointment of a receiver because of insolvency tied to the Bankers' Trust Co. No run is mentioned; a receiver/closure is described. Minor OCR errors corrected (e.g., 'ceiver' -> 'receiver', 'misapplicaiton' -> 'misapplication'). Cause is failure/distress of its correspondent/trust company.

Events (2)
1. July 16, 1926 Receivership
Newspaper Excerpt
The Bank of Unadilla today asked for appointment of a receiver on the ground that the trust company and W. D.Manly, its president, were insolvent, due to misapplication and misuse of funds for the personal gain of officers of the corporation.
Source
newspapers
2. July 16, 1926 Suspension
Cause
Correspondent
Cause Details
Requested receiver because Bankers' Trust Co. (which operated many state banks) and its president were insolvent due to misapplication/misuse of funds, precipitating closures
Newspaper Excerpt
The Bank of Unadilla today asked for appointment of a receiver on the ground that the trust company and W. D. Manly, its president, were insolvent
Source
newspapers

Newspaper Articles (2)
1. July 15, 1926 Honolulu Star-Bulletin Honolulu, HI
Article from Honolulu Star-Bulletin, July 15, 1926

Click image to open full size in new tab

Article Text

GEORGIA, FOUR FLORIDA BANKSCLOSE State and Federal Governments Act In Tangled Financial Situation Failure of Trust Co. Investigated As Cause of Other Banks' Collapse (Associated Press by Naval Radio) ATLANTA, Ga., July 15, Eighteen more Georgia banks closed today, bringing the number of bank suspensions since Monday to 64. The Georgia state banking department continued its investigation of the affairs of the closed institutions. Bankruptcy proceedings have been started against the Bankers' Trust Co., state banks. The operated by state banking majority the closings. Bank Unadilla today asked for ceiver on the ground that the trust company and Manly, president, were insolvent, misuse of funds for the personal gain of officers the (Associated Press Naval Radio) July Florida banks, bankstate in Georgia, closed their doors today. (Associated Press by Naval Radio) July federal government today moved stop campaign of financial ceptance checks drawn against Florida have been pasting stickers on collection letters requesting that postoffice be used for mittances instead of bank checks.

2. July 17, 1926 Hawaii Tribune-Herald Hilo, HI
Article from Hawaii Tribune-Herald, July 17, 1926

Click image to open full size in new tab

Article Text

MANY SOUTH BANKS ARE CLOSING DOORS ATLANTA, Ga., July 16.-Eighteen more Georgia banks closed today, bringing the number of bank suspensions since Monday to 64. Georgia state banking department continued its investigation of the affairs of the closed institutions. Bankruptcy proceedings have been started against the Bankers' Trust Co., which formerly operated 20 state banks. The company's embarrassment is blamed by the state banking department for the majority of the closings. The Bank of Unadilla today asked for appointment of a receiver on the ground that the trust company and W. D.Manly, its president. were insolvent, due to misapplicaiton and misuse of funds for the persona] gain of officers of the corporation. EUSTIS. Fla., July 16.-(A.P.)Four Florida banks, members of a banking system operating in this state and in Georgia, closed their doors yesterday.