First National Bank (Natchez, MS)

Episode Information

Episode Type
Suspension โ†’ Closure
Start Date
May 1, 1914
Location
Natchez, Mississippi (31.560, -91.403)
Bank Type
national
Charter Number
3701

Metadata

Events (5)

1. May 9, 1887 Chartered
Source
historical_nic
2. April 15, 1895 Voluntary Liquidation
Source
historical_nic
3. May 1, 1914 Receivership
Newspaper Excerpt
L. P. Conner, receiver of the bank, on the stand read the minutes from the records of the bank regarding its Incorporation in the state, showing by documentary evidence also that A. G. Campbell signed all documents as president of the bank.
Source
newspapers
4. October 22, 1915 Other
Newspaper Excerpt
The suit filed by L. P. Conner, receiver of the defunct First National Bank, against W. P. Stewart...was settled today...Stewart will pay $61,220.
Source
newspapers
5. * Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was insolvent (articles reference receiving deposits in an insolvent institution and describe the bank as defunct).
Newspaper Excerpt
defunct First National Bank
Source
newspapers

Newspaper Articles (2)

Article from Macon Beacon, May 1, 1914

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Article Text

NATCHEZ BANK CASE

Court Overrules Defense Objections to Four Members of Jury. Natchez.-Objections made by counsel for A. G. Campbell, former president of the defunct First National Bank, to four members of the jury were overruled by the court, and the taking of testimony was begun against the accused banker, who is charged with receiving deposits in an insolvent institution. The chancery clerk was the first state witness. The recording charter and amendments of the bank were read, in an endeavor to prove it legally incorporated. L. P. Conner, receiver of the bank, on the stand read the mniutes from the records of the bank regarding its Incorporation in the state, showing by documentary evidence also that A. G. Campbell signed all documents as president of the bank. Probably the state was anticipating a contention by the defense that the bank was not legally incorporated and was an unlimited partnership. Fifteen witnesses were called by the state. C. F. Engle, one of the attorneys for the defense, is ill.


Article from The Hattiesburg News, October 22, 1915

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Article Text

BANK SUIT COMPROMISED

Natchez, Miss., Oct. 22.-The suit filed by L. P. Conner, receiver of the defunct First National Bank, against W. P. Stewart, a director of the institution, was settled today in the chancery court. A compromise was effected, whereby Stewart will pay $61,220. All of the directors of the bank were sued collectively and individually. The other directors had previously compromised. A petition is being circulated among the depositors of the failed bank, addressed to Chancellor Cutrer, asking that a co-receiver be appointed with L. P. Conner, on the ground that on account of the great volume of work involved one man cannot handle it.