61. Alabama Trust & Savings Company (Birmingham, AL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust
Start Date
September 25, 1909
Location
Birmingham, Alabama (33.521, -86.802)

Metadata

Model
gpt-5-mini
Short Digest
b4cfa8e5c121b31f

Response Measures

None

Description

Articles report the Alabama Trust & Savings Company 'closed its doors September 25, 1909' and that a receiver (W. C. Sterrett) later sued (May 11, 1912) the Second National Bank of Cincinnati alleging correspondent fraud that 'wrecked' the Alabama bank. No article describes a depositor run; the bank suspended/closed and a receiver was appointed. Dates taken from article text; receiver's suit date is publication date May 11, 1912.

Events (2)
1. September 25, 1909 Suspension
Cause
Correspondent
Cause Details
Bank closed on Sept 25, 1909; receiver later alleged its correspondent (Second National Bank of Cincinnati) fraudulently applied deposit balances, wrecking the Alabama bank.
Newspaper Excerpt
which closed its doors September 25, 1909.
Source
newspapers
2. May 11, 1912 Receivership
Newspaper Excerpt
Suit for an accounting ... by W. C. Sterrett, receiver for the Alabama Trust and Savings Company of Birmingham, Ala., which closed its doors September 25, 1909.
Source
newspapers

Newspaper Articles (3)
1. May 12, 1912 Evening Star Washington, DC
Article from Evening Star, May 12, 1912

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Article Text

SUES FOR ACCOUNTING. Bank Receiver Makes Charges Against Cincinnati Institution. CINCINNATI, Ohio May 11.-Suit for an accounting against the Second National Bank of Cincinnati was entered in the United States district court here today by W. C. Sterrett, receiver for the Alabama Trust and Savings Company of Birmingham, Ala., which closed its doors September 25, 1909. It is charged in the petition that the Second National Bank, its correspondent, fraudulently applied the deposit balance in such a manner that the Alabama bank was wrecked.

2. May 12, 1912 New-York Tribune New York, NY
Article from New-York Tribune, May 12, 1912

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Article Text

RECEIVER ASKS ACCOUNTING Alleges That Cincinnati Bank Caused Wreck of Alabama Trust Company. Cincinnati, May 11.-Suit for an accounting against the Second National Bank of Cincinnati was entered in the United States District Court here to-day by W. C. Sterrett, receiver for the Alabama Trust and Savings Company, of Birmingham, Ala., which closed its doors September 25, 1909. It is charged in the petition that the Second National Bank, its correspondent, fraudulently applied the deposit balance in such a manner that the Alabama bank was wrecked.

3. May 15, 1912 The Forest Republican Tionesta, PA
Article from The Forest Republican, May 15, 1912

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Article Text

Bank Charged With Fraud. Cincinnati, O.-Suit for an accounting against the Second National Bank of Cincinnati has been entered by W. C. Starrett, receiver for the Alabama Trust and Savings Company of Birmingham, Ala., which closed its doors September 25, 1909. It is charged in the petition that the Second National Bank as correspondent, fraudulently applied the deposit balance in such a manner that the Alabama Bank was wrecked. Mexican federal forces won big victory in first decisive clash with rebels.