45. Peoples Bank & Trust Company (Attalla, AL)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
trust
Start Date
April 1, 1903*
Location
Attalla, Alabama (34.022, -86.089)

Metadata

Model
gpt-5-mini
Short Digest
6f423c8d14dba2d2

Response Measures

None

Description

Articles report the Peoples' Bank and Trust Company (headquartered Fort Payne) had branches at Attalla and Collinsville. Depositors withdrew about $15,000 prior to the crash, and the Attalla branch closed its doors on April 15, 1903. Suspensions were due to alleged embezzlement by Leroy C. Harding. Later reports (Nov 1903) describe legal action and that the bank had been closed under sheriff's attachment, indicating permanent closure rather than a temporary suspension.

Events (3)
1. April 1, 1903* Run
Cause
Bank Specific Adverse Info
Cause Details
Withdrawals occurred after commercial-agency investigation disclosed suspected embezzlement by Leroy C. Harding, head of the institutions.
Measures
Depositors withdrew funds; some depositors at Collinsville and Fort Payne reportedly paid in full, but Attalla depositors suffered losses.
Newspaper Excerpt
Depositors withdrew about $15,000 before the crash came.
Source
newspapers
2. April 15, 1903 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspension/closure followed revelations and warrants charging Leroy C. Harding with embezzlement and obtaining money under false pretenses; investigations by a commercial agency precipitated the suspension.
Newspaper Excerpt
April 15 the Attalia Bank closed its doors
Source
newspapers
3. November 11, 1903 Other
Newspaper Excerpt
papers filed ... charges against S. W. Johnston ... that he 'surreptiously forced open' the doors of the celebrated swindling concern run at Attalla by Harden ... and abstracted from the safe its contents. ... after the bank had been closed by the sheriff under an attachment and locked up ... notwithstanding all this notice ... Johnston thereafter surreptiously forced open the door ... opened said safe and took therefrom said contents. (Nov. 10/11 report).
Source
newspapers

Newspaper Articles (4)
1. April 18, 1903 The Montgomery Advertiser Montgomery, AL
Article from The Montgomery Advertiser, April 18, 1903

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Article Text

THREE BANKS SUSPENDED At Fort Payne, Attalla and Collinsville. WARRANT FOR L.C.HARDING Leading Spirit of Institutions is Missing. / His Wife is Said to Have Received Information That He is Seriously Ill in New York City. Chattanooga, Tenn., April 17.-The Peoand ple's Payne, Bank Ala., having Trust branches Company at Attalla, of Fort and Collinsville, Ala., and the DeKalb Flour Mills of Fort Payne, have suspended business. Warrants have been sworn out for Le. Roy C. Harding, the leading spirit in the enterprises, whose whereabouts is unknown. The warrants charge embezzlement and obtaining money under false pretenses. Harding's transactions have recently been under investigation by one of the commercial agencies and the suspension of the Institutions named is due to its disclosures. Harding located at Fort Payne about January 1, this year, and soon afterwards organized the People's Bank and Trust Company at that place. The best people of the town patronized it. Over a week ago Harding left Alabama, presumably for the East. and on that day the Collineville bank suspended. April 15 the Attalia Bank closed its doors and last Thursday the Fort Payne bank, the parent institution, also suspended. Depositors withdrew about $15,000 before the crash came.

2. April 23, 1903 The Brandon News Brandon, MS
Article from The Brandon News, April 23, 1903

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Article Text

THREE BANKS SUSPEND. Head of Concerns Charged With Embezzlement. Chattanooga.-The Peoples' Bank and Trust Company of Fort Payne, Alabama, having branches at Attalla and Collinsville, Alabama, and the Dekalb flour mills of Fort Wayne. have suspended business. Warrants have been issued for Leroy C. Harding, the leading spirit in the enterprises, whose whereabouts is unknown. The warrants charge him with embezzlemeut and obtaining money under false pretenses. Harding's transactions have recently been under investigation by one of the commercial agencies, and the suspension of the institutions named is due to its discourse. Harding located at Fort Payne about January 1 and soon afterwards organized the Peoples' Bank and Trust Company at that place. The best people of the town patronized it. Over a week ago Harding left Alabama, presumably for the east and on that day the Collinsville bank suspended. On April 15 the Attalla bank closed its doors and last Thursday the Fort Payne bank, the parent intsitution, also supsended. Depositors withdrew about $15,000 before the crash came. In connection with the Dekalb flour milling company, it is alleged that a number of cars of grain were bought and delivered, the drafts being sent to President Harding's pank. The bills of lading were used to get the grain and the drafts were withhela. Sellers of the grain began investigating and this started the trouble. It is said bills for grain will amount to 5000 or $10,000. Harding's wife, to whom he was married a few weeks ago, has gone in repsonse to a message that Harding is seriously ill in New York. Depositors here and at Collinsville are said to have been paid off in full, but at Attalla several are heavy losers.

3. April 24, 1903 Greene County Herald Leakesville, MS
Article from Greene County Herald, April 24, 1903

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Article Text

THREE BANKS SUSPEND. Head of Concerns Charged With Embezzlement. Chattanooga.-The Peoples' Bank and Trust Company of Fort Payne, Alabama, having branches at Attalla and Collinsville, Alabama, and the Dekalb flour mills of Fort Wayne. have suspended business. Warrarts have been issued for Le roy C. Harding, the leading spirit in the enterprises, whose where abouts is unknown. The warrants charge him with embezzlement and obtaining money under false pretenses. Harding's transactions have recently been under investigation by one of the commercial agencies, and the suspension of the institutions named is due to its discourse. Harding located at Fort Payne about January 1 and aoon afterwards organized the Peoples' Bank and Trust Company at that place. The best people cf the town patronized it. Over a week ago Harding left Alabama, presumably for the east and on that day the Collinsville bank suspended. On April 15 the Attalla bank closed its doors and last Thursday the Fort Payne bank, the parent intsitution, also supsended. Depositors withdrew about $15,000 before the crash came. In connection with the Dekalb flour milling company, it is alleged that a number of cars of grain were bought and delivered, the drafts being sent to President Harding's bank. The bills of lading were used to get the grain and the drafts were withheld. Sellers of the grain began investigating and this started the trouble. It is said bills for grain will amount to 5000 or $10,000. Harding's wife, to whom he was married a few weeks ago, has gone ic repsouse to a message that Harding is seriously ill in New York. Depositors here and at Col[insville are said to have been paid off in full, but at Attalia several are heavy losers.

4. November 11, 1903 The Montgomery Advertiser Montgomery, AL
Article from The Montgomery Advertiser, November 11, 1903

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Article Text

MAYOR IS ACCUSED. Attalla's Executive Charged With Opening Bank's Doors. Gadsden, Nov. 10.-(Special.)-Papers were filed in the City Court of Gadsden this morning which makes some sensational charges against S. W. Johnston, a lawyer, and who is also mayor of Attalla. The papers filed say that he "surreptiously forced open or had It done," the doors of the celebrated swindling concern run at Attalla by Harden, known as "The Peoples' Bank and Trust Comapny," and abstracted from the safe its contents. The papers filed state that after the bank had been closed by the sherff under an attachment and locked up with an extra lock in the presence of S. W. Johnston, attorney for the bank, that "notwithstanding all this notice to said S. W. Johnston of the levy of said attachment, said S. W. Johnston thereafter surreptiously forced open the door to said building, or had it done, and entered said building at a midnight hour and opened said safe and took therefrom said contents." The charges were filed by Colonel B. H. Nicholson, of Attalla, and W. W. Harralson of Fort Payne. The case has been a long time materializing. Mr. Johnston's name has been freely used in connection with this bank and its swindling promoter. The facts as set out above were all laid before the recent grand jury but- for some reason no true bills were returned. The filing of the charges have created a mild sensation as Mayor Johnston has stood well in this section. The case will come up for a hearing on the 18th of this month. Judge L. E. Hamlin, as administrator of the estate of James Williams, has filed a suit in the City Court of Gadsden against the Riter and Conley Manufacturing Company of Pittsburg, Pa., for $5,000 damages for the death of James Williams who was killed a short time ago while in the employ of the firm. Miss Drusilla Dunlap died yesterday at the home of her brother, Colonel R. A. D. Dunlap of Fifth Street, aged 65 years. Miss Dunlap has been a resident of Gadsden a long time and had many warm friends.