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Short Digest
7e47203ae521baa7
Response Measures
None
Description
The bank was a state-chartered institution closely allied with the Americus National Bank and failed simultaneously with it due to shared management and internal irregularities.
Events (3)
1.February 2, 1914Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closely allied with the Americus National Bank which failed due to alleged abstraction of funds and falsifying accounts by officers.
Newspaper Excerpt
The affairs of the defunct Americus Trust and Savings Bank, which, with its parent institution, the Americus National, went to the wall in February last.
Source
newspapers
2.May 30, 1914Receivership
Newspaper Excerpt
Judge Z. A. Littlejohn at a late hour yesterday appointed Mr. W. P. Wallis receiver for the Americus Trust & Savings Bank
Source
newspapers
3.January 12, 1915Other
Newspaper Excerpt
The first dividend of ten per cent to depositors of the suspended Americus Trust and Savings Bank... was paid this afternoon by Receiver Dykes.
Source
newspapers
Newspaper Articles (14)
1.February 6, 1914Atlanta GeorgianAtlanta, GA
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Article Text
NO TIDINGS FROM MISSING CASHIER Examiner Says It Will Take Several Weeks to Untangle Americus Bank's Affairs. AMERICUS, Feb. 6.-Assistant State Bank Examiner T. C. Dunlap, who has been appointed temporary receiver and who is at work on the tangled affairs of the Americus National Bank, refuses to make a statement now, other than it will take probably several weeks to get at the bottom of the bank's failure. The Americus Trust and Savings Bank, an institution closely allied with the National Bank, doing business in the same building and having practically the same officers, is almost as hard hit as the National Bank, it seems. It had $30,000 on deposit. So far no tidings have been received from G. D. Wheatley, Jr., the missing assistant cashier. Many of his friends insist that he is near Americus. The general opinion is that Wheatley is involved no deeper than some others, and that if he will return and help straighten matters out, he will stand a. good chance to clear himself of the charges that rumor has fixed on him. His father still stands steadfast in his declaration to stick to him. Depositors to Get 50 Per Cent. ENOIA, Feb. 6.-H. H. North, receiver of the Bank of Senoia, has announced that he will pay a 50 per cent dividend to depositors on Tuesday, February 10. The bank was closed one year ago. This will be the first dividend. Mr North is confident that depositors will be paid in full
2.February 7, 1914Atlanta GeorgianAtlanta, GA
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Article Text
NO TIDINGS FROM MISSING CASHIER Examiner Says It Will Take Several Weeks to Untangle Americus Bank's Affairs. AMERICUS, Feb. 6.-Assistant State Bank Examiner T. C. Dunlap, who has been appointed temporary receiver and who is at work on the tangled affairs of the Americus Na tional Bank, refuses to make a statement now, other than it will take probably several weeks to get at the bottom of the bank's failure. The Americus Trust and Savings Bank, an institution closely allied with the National Bank, doing business in the same building and having practically the same officers, is almost as hard hit as the National Bank, it seems. It had $30,000 on deposit. So far no tidings have been received from G. D. Wheatley, Jr., the missing assistant cashier, Many of his friends insist that he is near Americus. The general opinion is that Wheatley is involved no deeper than some others, and that if he will return and help straighten matters out, he will stand a good chance to clear himself of the charges that rumor has fixed on him. His father still stands steadfast in his declaration to stick to him.
3.May 12, 1914The Dawson NewsDawson, GA
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Article Text
RECEIVER FOR AMERICUS BANK. Attorney General Will Take Steps at Direction of Governor. Attorney General Warren Grice has been directed by Governor Slaton to go to Americus and take steps looking to placing the Americus Trust and Savings Bank in the hands of a receiver. The bank was recently examined and an unfavorable report submitted to State Treasurer Speer. Therefore, Governor Slaton directed the attorney general to take action.
4.May 31, 1914Americus Times-RecorderAmericus, GA
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WALLIS NAMED RECEIVER FOR SAVINGS BANK / OFFSPRING OF NATION'L BANK His Appointment is Made Yesterday / Judge Z. A. Littlejohn at a late hour yesterday appointed Mr. W. P. Wallis receiver for the Americus Trust & Savings Bank, an offspring of the defunct Americus National, and, prior to the closing of that bank ,operated by the same officers. The little saving bank was organized under a state charter, and had a capital stock of $15,000. Its deposit account, at the time of the closing of the national bank, was said to be about $13,000. Its assets at this time are thought to be rather small. Just what depositors will receive in the liquidation of the bank is, of course, largely a matter of coujecture. About two weeks ago, Attorney General Warren Grice came to Americus to see about the appointment of a receiver for the little state bank, and proposed the appointment of Mr. L.G. Council to that position. Mr. Council, however, found it inexpedienct to accept the position and so notified Judge Littlejohn, who has since named Mr. Wallis as the receiver instead. The exact status of the bank's condition will not be known until Receiver Wallis has gone fully into its financial affairs. A number of its depositors, it is understood, were women and children.
5.June 3, 1914Americus Times-RecorderAmericus, GA
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Article Text
Notice Depositors. The depositors of the Americus Trust & Savings Bank are requested to meet at Eleven O'clock this Wednesday morning at The Chamber of Commerce Building for the purpose of discussing matters of vital interest to this bank. No receiver as yet has qualified or will serve and a receiver must be anpointed and we feel sure His Honor Judge Z. A. Littlejohn, is anxious to appoint some one who may be acceptable to the depositors, therefore, it is necessary for the depositors to meet and discuss the matter of a receiver. Sveral names could be suggested that would be agreeable to the depositors. A full attendance at this meeting is urged. C. J. CLARK, advt. For the Depositors.
6.June 5, 1914The Dawson NewsDawson, GA
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Article Text
Receiver Is Named. Judge Z. A. Littlejohn appointed W. P. Wallis receiver for the Americus Trust and Savings bank, an offspring of the defunct Americus National, and prior to the closing of that bank operated by the same officers. The little savings bank was organized under a state charter, and had a capital stock of $15,000. Its deposit account, at the time of the closing of the national bank, was said to be about $13,000.
7.July 21, 1914Americus Times-RecorderAmericus, GA
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Notice. All persons holding accounts against the Americus Trust & Savings Bank will please bring their passbooks and make proof of same under W. W. DKYES, oath. Receiver. advt
8.December 1, 1914The Dawson NewsDawson, GA
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JURY WILL INVESTIGATE WILL LOOK INTO AFFAIRS OF TRUST AND SAVINGS BANK. Was Run in Connection With the Americus National Bank. Was a State Institution. AMERICUS, Ga.-The affairs of the defunct Americus Trust and Savings Bank, which, with its parent institution, the Americus National, went to the wall in February last. are to be inquired into by the grand jurv now in session here in all likelihood. The savings bank was a state institution, operated under a charter from the state of Georgia, and it is clearly within the province of the superior court grand jury, now in session here, to investigate the failure of the bank. The failure of the national or parent bank was recently investigated by the United States court grand jury with the result that its cashier, M. M. Lowrey, and Assistant Cashiers Wheatley and Hawkins were indicted for alleged abstraction of funds and falsifying accounts. The state savings bank was a part and parcel of the national, and was operated under the same roof and by the same officers. It had a capital stock of $15,000 and deposits of probably $20,000, both of which seemed to have been wiped out to a great extent, in the wreck of the Americus National. W. W. Dykes, as receiver, has charge of the affairs of the little state bank which was largely absorbed by the big one.
9.January 12, 1915The Dawson NewsDawson, GA
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Article Text
DEPOSITORS GET FIRST DIVIDEND Receiver of the Suspended Bank of Americus Distributes 10 Per Cent Among Creditors. AMERICUS, Ga.--The first dividend of ten per cent to depositors of the suspended Americus Trust and Savings Bank, a department of the wrecked Americus National Bank, of which M. M. Lowrey was the directing genius, was paid this afternoon by Receiver Dykes. The deposits of the savings bank were approximately $18,000, and Receiver Dykes expects to make other dividend payments as assets realize. The depositors were principally women, children and people of slender means. Each of the suspended institutions have now paid first dividends of ten per cent. The indebtedness of the national bank exceeded $300,000 and creditors expect considerably less than 50 cents on the dollar. Stockholders lost their entire capital stock of $100,000 and were forced to pay in addition a like amount under the liability clause. The same officers operated both banks.
10.October 27, 1915Americus Times-RecorderAmericus, GA
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Q. W. FULLER, Sheriff, Sumter County, Georgia. GEORGIA-Sumter County. Will be sold before the courthouse door, between the legal hours of sale, on the first Tuesday in November, 1915, the following described property, tcwit: "A certain house and lot situated in the City of Americus, Sumter County, Georgia on the east side of Hinkle street, fronting on said street and bounded as follows: North by property ofMatt Hart, east by Mandy Wilson lot, south by Hinkle rent and west by Hinkle street; old number being 120 and new number 132; known as the J. J. Simmons property." Also: "That tract or parcel of land lying and being in the City of Americus. Sumter County, Georgia, and situated on the east side of Strife street, fronting on said Strife street seventy (70) feet, more or less, and running back parallel line two hundred and nineteen (219) feet, more or less, and bounded as follows: On the north by land of Mitchell Ellis and Chas. Roundtree, on the east by lot of Mary Williams, on the south by lot of Louisa Beattie and on the west by said Strife street." Levied on as the property of J. J. Simmons to satisfy Fi Fa in favor of W. W. Dykes, Receiver of the Americus Trust & Savings Bank, issued from the City Court of Americus, said coun. ty. Tenant in possession notified in
11.November 22, 1915Americus Times-RecorderAmericus, GA
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GEORGIA,, Sumter County. Will be sold before the courthouse door in the City of Americus, said state and county, on the first Tuesday in December, 1915, which will be the 7th day of December, between the legal hours of sale the following described real estate, towit: The south half of lot of land Number 35, in the 26th district of Sumter county, Georgia, and the northwest quarter off of lot of land Number 36 in the 26th district of said state and county, all of said land containing 140 acres, more or less; also that tract of land known as the Sealy Green dower. the same containing 35 acres, more or less, and adjoining the above described land in said county. Said property being in possession of Freeman and Clara Hightower, and will be sold as the property of said Freeman Hightower and Clara Hightowner to satisfy a certain City court fifa issued from the City Court of Americus ,in favor of W. W. Dykes, receiver of the Americus Trust and Savings Bank vs. Freeman Hightower and Clara Hightower. Tenants in possession notified in terms of the law. This the 10th day of November, 1917, Q. W. FULLER, Sheriff, By Lucius Harvey, Deputy Sheriff.
12.November 29, 1915Americus Times-RecorderAmericus, GA
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GEORGIA,, Sumter County. Will be sold before the courthouse door in the City of Americus, said state and county, on the first Tuesday in December, 1915, which will be the 7th day of December, between the legal hours of sale the following described real estate, towit: The south half of lot of land Number 35, in the 26th district of Sumter county, Georgia, and the northwest quarter off of lot of land Number 36 in the 26th district of said state and county, all of said land containing 149 acres, more or less; also that tract of land known as the Sealy Green dower, the same containing 35 acres, more or less. and adjoining the above described land in said county. Said property being in possession of Freeman and Clara Hightower, and will be sold as the property of said Freeman Hightower and Clara Hightowner to satisfy a certain City court fifa issued from the City Court of Americus in favor of W. W. Dykes. receiver of the Americus Trust and Savings Bank VS. Freeman Hightower and Clara Hightower. Tenants in possession notified in terms of the law. This the 10th day of November, 1917 Q. W. FULLER, Sheriff, By Lucius Harvey, Deputy Sheriff.
13.January 5, 1916Americus Times-RecorderAmericus, GA
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Legal Advertisements Sheriff's Sale. GEORGIA-Sumter County. Will be sold before the Court-house door, between the legal hours of sale, or the first Tuesday in Feburary, 1916, the following described real estate, towit: "That certain lot of land situated, lying and being in the New Sixteenth (16th.) District of Sumter County, Georgia, same being lot number Seventeen (No. 17) in said District, and containing One Hundred and Seventy (170) acres, more or less; said lot of land is bounded on the North by the lands of Kinmore, on the East by land formerly owned by T. G. Hudson, on the South by land of the widow Kinard, and on the West by lands of the W. P. Finch old estate." Levied on as the property of Geo. D. Wheatley to satisfy a City Court Fi. Fa. in favor of W. W. Dykes, Receiver of the Americus Trust & Savings Bank, to be sold at the risk of H. C. Clark. This 5th day of January, 1916. 6-4t LUCIUS HARVEY, Deputy Sheriff, Sumter County Ga.
14.January 6, 1916Americus Times-RecorderAmericus, GA
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Legal Advertisements Sheriff's Sale. GEORGIA-Sumter County. Will be sold before the Court-house door, between the legal hours of sale, or the first Tuesday in Feburary, 1916, the following described real estate, towit: "That certain lot of land situated, lying and being in the New Sixteenth (16th.) District of Sumter County, Georgia, same being lot number Seventeen (No. 17) in said District, and containing One Hundred and Seventy (170) acres, more or less; said lot of land is bounded on the North by the lands of Kinmore, on the East by land formerly owned by T. G. Hudson, on the South by land of the widow Kinard, and on the West by lands of the W. P. Finch old estate." Levied on as the property of Geo. D. Wheatley to satisfy a City Court Fi. Fa. in favor of W. W. Dykes, Receiver of the Americus Trust & Savings Bank, to be sold at the risk of H. C. Clark. This 5th day of January, 1916. 6-4t LUCIUS HARVEY, Deputy Sheriff, Sumter County Ga.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
