Bank of Commerce - Bessemer, AL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 17, 1910
Location: Bessemer, Alabama (33.402, -86.954)

Metadata

Model: gpt-5-mini
Short Digest: eb7583da

Response Measures

None

Description

Article (Dec 17, 1910) reports the Bank of Commerce (Bessemer) declared bankrupt and its receivership consolidated with the Bessemer Bank and Trust Company. No run is described; bank is insolvent and in receivership.

Events (2)

1. December 17, 1910 Receivership

Newspaper Excerpt: Soon after its establishment it was placed in the hands of a receiver. T. J. Cornwall was connected with the Bessemer Bank and Trust company and the Bank of Commerce, and when both were declared bankrupt the receiverships of both were consolidated.
Source: newspapers

2. December 17, 1910 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Longstanding insolvency of the bank leading to court action and impending bankruptcy declaration.
Newspaper Excerpt: When a report is made by the register the latter part of next week the Bessemer bank will be finally declared bankrupt. The bank has really been insolvent since its founding in 1901.
Source: newspapers

Newspaper Articles (1)

1. December 17, 1910 The Birmingham Age-Herald Birmingham, AL

Article from The Birmingham Age-Herald, December 17, 1910

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Article Text

AFTER LONG LITIGATION Bessemer Bank and Trust Company Is About to Be Declared Bankrupt After nine years of litigation, the Bessemer Bank and Trust company is about to be declared bankrupt. Due to an order issued from the city court Receiver George H. Stevenson has issued a final statement on the condition of the bankrupt company, and the clerk and register of the city court is now working on the statement. When a report is made by the register the latter part of next week the Bessemer bank will be finally declared bankrupt. The bank has really been insolvent since its founding in 1901. Soon after its establishment it was placed in the hands of a receiver. T. J. Cornwall was connected with the Bessemer Bank and Trust company and the Bank of Commerce, and when both were declared bankrupt the receiverships of both were consolidated.