Bank of Byromville (Byromville, GA)

Episode Information

Episode UID
64097871547
Episode Type
Run → Suspension → Unsure
Bank Type
state
Bank ID
6409787 routing
Routing Number
64-0978
Start Date
November 27, 1928
Location
Byromville, Georgia (32.202, -83.909)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
428017b075b471e6

Response Measures

None

Description

The bank is referred to as both 'Bank of Byronville' and 'Bank of Byromville' in the text; Byromville is the correct city name.

Events (2)
1. November 27, 1928 Run
Cause
Local Banks
Cause Details
Heavy runs triggered by the failure of the Fourth National Bank of Macon, which served as a reserve agent.
Newspaper Excerpt
The institutions were closed after heavy runs Tuesday due to the financial scare that followed closing of the Macon bank.
Source
newspapers
2. November 28, 1928 Suspension
Cause
Local Banks
Cause Details
Suspended following heavy runs and the failure of its correspondent/reserve agent in Macon.
Newspaper Excerpt
Eight small Georgia banks were closed today as result of the failure Monday of the Fourth National Bank of Macon
Source
newspapers

Newspaper Articles (11)
1. November 28, 1928 The Birmingham Post Birmingham, AL
Article from The Birmingham Post, November 28, 1928

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Article Text

EIGHT GEORGIA BANKS CLOSED Institution Drags Small Ones Down United MACON, Nov. 28. Eight small Georgia banks were closed today result of failure bank, Macon, with listed reof more than With the exception the Citizens' bank, of Fort Valley, capitalized at other institutions, Bank of Byronville, Irwinton bank, Bank of Preston, Citizens' Bank company, of Culloden, Bank of Bradley, Farmers' Merchants' bank, of Gordon, Farmers' bank, of at from $15,000 to were closed aftheavy runs due to the scare that followed ing of the Macon bank. All the banks are located in the Georgia peach With Clyde J. Edwards in charge of an audit, and Claude Gilbert, named of the Fourth National plans under today to adjust affairs could be cared for. Exact cause of the run was concealed, altho circles said recent investments had turned out poorly.

2. November 28, 1928 The Oregon Daily Journal Portland, OR
Article from The Oregon Daily Journal, November 28, 1928

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Article Text

Eight Banks Of Georgia Close; Concealed Macon. Ga., Nov. Hearts of Celery Georgia banks were closed today the Fourth result of the failure Monday National bank of with listed resources of more than bank With the exception of the Citizens Fort Valley, $100,000, the other institutions, capitalized the Bank Bank of Byronville, Irwinton bank, Preston, Citizens Bank pany Farmers' of Culloden, Bank of Bradley, comand Merchants' bank of and Farmers' bank of Byron

3. November 28, 1928 The Pittsburgh Press Pittsburgh, PA
Article from The Pittsburgh Press, November 28, 1928

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Article Text

NINE BANKS CLOSED Eigh Shut After Collapse of One in Macon. By The United Press. Macon, Ga., Nov. 28.-Eight small Georgia banks were closed today as result of the failure Monday of the Fourth National Bank of Macon, with listed resources of more than $11,000,000. With the exception of the Citizens Bank of Fort Valley, capitalized at $100,000, the other institutions. the Bank of Byronville Irwinton Bank, Bank Preston. Citizens Bank Co. of Culloden, Bank Bradley, Farmers &, Merchants Bank of Gordon and Farmers Bank of were capitalized at from $15,000 to $25,000. The institutions were closed after heavy runs Tuesday due to the financial scare that followed closing of the Macon bank. All the banks were located in the Georgia peach belt.

4. November 28, 1928 The Brooklyn Daily Times Brooklyn, NY
Article from The Brooklyn Daily Times, November 28, 1928

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Article Text

EIGHT MORE BANKS CLOSE IN GEORGIA Failures in Peach Belt Due to Collapse Yesterday of $11,000,000 Institution. Macon. Ga., Nov. 28.-Eight small Georgia banks closed today as the failure Monday of the Fourth National Bank of Macon, with listed resources of more than With the of the Citizens Bank of Fort Valley capitalized at the other institutions, the Bank of Byronville, Irwinton Bank, Bank of Preston, Citizens Bank Company of Culloden, Bank of Bradley Farmers Merchants Bank of Gordon, and Farmers Bank of Byron were capitalized at from to The institutions closed after heavy runs Tuesday due to the financial scare that followed closing of the Macon All he banks located in the Georgia peach With Clyde J. Edwards in charge of an audit, and Claude Gilbert. named receiver the Fourth National here. plans today to adjust affairs so creditors could be cared for. Exact cause of the run was con. although financial circles said investments had turned out poorly. The Brooklyn Times will be published tomorrow, Thanksgiving Day.

5. November 28, 1928 The Times-News Twin Falls, ID
Article from The Times-News, November 28, 1928

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Article Text

MACON, GEORGIA. BANKS COLLAPSE rescue Eight Institutions Fall When He Run Starts on Them After Breaking of $11,000,000 Bank the MACON, Ga., Nov. 28 Eight small Georgia banks were closed today as result of the failure Monday of the Fourth Notional Bank of Macon, with listed resources of more than $11,000.000 With the exception of the Citizens Bank of Fort Vallev, espitalized at $100,000. the other stitutions, the Bank of Byronville. Irwinton Bank, Bank of Preston, Citizens Bank Company of Culloden, Bank of Bradley, and Merchants Bank of Gordon. Bank Byron were capitalized at from $15,000 to $25,000. The institutions were c'osed afheavy runs Tuesday due to the financial scare that followed closing of the Macon bank. All the banks are located in the Georgia peach belt. Exact cause of the run was concealed. although financial circles said recent investments had turned out poorly.

6. November 28, 1928 The Ogden Standard-Examiner Ogden, UT
Article from The Ogden Standard-Examiner, November 28, 1928

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Article Text

EIGHT BANKS CLOSE WHEN ONE FAILS MACON, Ga., Nov. Eight small Georgia banks were closed today as result of the failure Monday of the Fourth National bank of Macon. with listed resources of more than With the exception of the Citizens' bank of Fort Valley. capitalized at $100,000. the other institutions. the Bank of Byronville, Irwinton bank, Bank of Preston, Citizens Bank company of Culloden, Bank of Bradley, Farmers and Merchants' Bank of Gordon, and Farmers' Bank of Byron capitalized at from $15,000 to $25,000. The institutions were closed after heavy runs Tuesday due to the financial scare that followed closIng of the Macon bank All the banks located the Georgia peach belt. Exact cause of the run was con. cealed, although financial circles said recent investments had turned out, poorly.

7. November 28, 1928 Transcript-Telegram Holyoke, MA
Article from Transcript-Telegram, November 28, 1928

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Article Text

EIGHT MORE BANKS CLOSED IN GEORGIA Shut-Down of Fourth National in Macon After Run Forces Others to Appeal to State Two Declared Insolvent. Ga., Nov. the closing the Fourth National Bank Macon after run, eight other financial institutions have turned their affairs over the State Banking said that the closing of the Macon bank forced the others shut down. The banks involved are the Farmers' Bank of Byron, the Citizens' Bank Fort Valley, the Irwinton Bank of Irwinton. the Bank of Byromville. the Bank of Bradley. the Farmers and Merchants Bank of Gordon. the Bank of Culloden and the Bank Preston. The State Bank Examiner will take charge at once and every effort be made reorganize and reopen the banks soon What caused the run on the Macon bank not known. One report lays to rumors regarding the dropping of negotiations for the sale of the Fourth National to syndicate of lanta financiers. The Citizens' Bank of Fort Valley declared by its officers be solvent and the suspension attributed to desire to conserve assets. President Martin said had cap. ital of $100,000 surplus and undivided profits of $80,000. There on the bank yes. terday following of the run on the Fourth National of Macon. The Byron Bank had capital stock of deposits of about $15. 000. H. Weaver president. Officers said that the bank was solvent and that the closing was made to The Fourth National Bank of Maone of the largest institutions in middle Georgia. was organized nineago and had capital stock of $500,000. of more than and deposits of about At one time during the about people on hand. The police any disorder. President Leon Dure today that plans being pushed rapidly. and that the would suffer hardship result of the closing. new be formed at once It stated. to take over the existing to the Georgia and pay all positors in full, provided they select this course. Meantime, Ellis D. Robb, chief na tional bank of the Sixth District, had taken over the affairs of liquidation and received will named.

8. November 29, 1928 Evening Star Washington, DC
Article from Evening Star, November 29, 1928

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Article Text

GEORGIA UNRAVELS BANKS' SUSPENSION Affairs of Eight Institutions in Hands of State-Reopening Is Forecast. By the Associated Press. MACON, Ga., November 29.-The affairs of eight middle Georgia banks were in the hands of the State Banking Department behind closed doors yesterday as a sequel to the closing of the Fourth National Bank of Macon Monday. The Macon bank was their Federal Reserve agent. In each case officers assured depositors of protection and announced that reorganization and reopening would be effected as soon as possible. Heavy withdrawals brought baout by a "financial scare" over the condition of the Fourth National were blamed in every instance. Meanwhile, the directorate of the Fourth National was busy arranging conferences looking toward reorganization and capitalization at $750,000 instead of $500,000 as at present. Claude Gilbert of the Insolvency Division of the United States Treasury Department has been designated as receiver by the controller of the currency. Auditors working under Ellis D. Robb, chief national bank examiner of the Sixth Federal Reserve District, continued their survey of the bank's books. In Peach Crop Area. The largest of the eight institutions closing yesterday was the Citizens' Bank of Fort Valley, capitalized at $100.000. The others had capital listed between $15,000 and $25,000. Macon and Fort Valley are among the larger shipping centers in Georgia's extensive peach growing section. While officers of the Fourth National yesterday were issuing a statement which said a two-hour run Monday was due to "baseless rumors" connected with the collapse of negotiations for sale of the institution to Atlanta financiers, the city commission was passing a resolution of confidence in its officers and directorate. The resolution urged all citizens to adopt an attitude of confidence and co-operation. Besides the Fort Valley Bank. the other institutions which are closed are the Irwinton Bank. Irwinton: Bank of Byronville: Bank of Bradley: Farmers' and Merchants' Bank of Gordon: Citizens' Bank of Culloden: Bank of Preston, and Farmers' Bank of Byron. Business Man Cut. An altercation over the closing of the Fort Valley Bank yesterday was responsible for knife wounds which today confined George Slappey, business man of that city, to his bed. Dr. W. S. White, mayor of Fort Valley. was the other participant. several witnesses said. No charges have been placed against the mayor. The encounter was said to have been preceded by a "friendly argument" over policies of the city in depositing municipal funds. Neither was interested in the management of the bank.

9. November 29, 1928 The Valdosta Daily Times Valdosta, GA
Article from The Valdosta Daily Times, November 29, 1928

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THE DANGER OF FALSE RUMORS The failure of seven middle Georgia banks to open for business following the closing of the Fourth National Bank of Macon has caused widespread apprehension on the part of depositors and is just another evidence of what rumors will do. The closing of the Fourth National was made necessary because of a rumor A run followed and the bank found it impossible to conserve its assets without shutting its doors. As soon as this happened depositors in all the surrounding section were struck with sudden fear and their various banks closed for safety's sake. Those which closed include the Bank of Byromville, capitalized at $15,000; Bank of Bradley, capitalized at $15,000; Bank of Preston, capitalized at $15,000; Farmers and Merchants Bank at Gordon, capitalized at $25,000; Citizens Bank at Fort Valley, capitalized at $100,000. According to C. E. Martin, president of the Fort Valley bank; the directors voted to close following heavy withdrawals on Monday. Mr. Martin also declared the bank was solvent and the institution was closed only to preserve its assets. The bank was founded in 1909 and had approximately $330,000 on deposits. In the last financial statement of the bank the institution's undivided profits were given at $80,000. All of the other banks were considered in good condition before the closings and as an evidence of the veracity of that belief. the presidents declare that they will all be ready to re-open within a short time. Each one of the closings was attributed to runs induced by the news of the closing of the Fourth National Bank at Macon and the others in succession. The Fourth National was the approved reserve agent for the other banks and officials are certain that as soon as the affairs of the Macon institution are readjusted all the banks will be open and in good condition. With the auditors at work, the directors of the Fourth National are holding conferences with view to working out plans to rclieve the situation for the creditors of the institution. One of the plans being discussed has to do with the organization of a new bank to take over the affairs of the Fourth National and start out anew. This new bank, should it be organized, would have capital stock of $750,000. It has been shown that the whole affair was brought about through a baseless rumor. Such rumors are hard to suppress once started for there is no rumor quite so interesting to a depositor as the alleged condition of his bank. The closings tend to cast an inaccurate reflection upon the financial situation in Georgia to people in other states. The majority of the people who learn of the closings will probably only read a small part of the news and will form a false conclusion as to the reported state of affairs. The whole trouble starts with the original rumor. In hundreds of cases such rumors of a bank's condition are untrue and some depositors might avert many unfortunate circumstances if they could learn enough about the banking business to keep their heads and work to prevent runs.

10. November 29, 1928 The Altus Times-Democrat Altus, OK
Article from The Altus Times-Democrat, November 29, 1928

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Article Text

EIGHT GEORGIA BANKS CLOSED MACON. Ga. Nov. Eight small Georgia banks were closed today as result of the failure Monday of the Fourth National Bank of with listed resources of more than With the exception of the Citizens bank of Fort Valley, capitalized $100,000. other institutions. the bank of Byronville and Bank of Irwinton: Bank of Preston. Citizens Bank company of Culloden. Bank of Bradley, Farmers and Merchants Bank of Gordon. and Farmers bank of Byron were capitalized at from $15,000 $25,000 The institutions were closed after heavy runs Tue day due to the financial scare that followed closing of the Macon bank

11. November 30, 1928 The News Paterson, NJ
Article from The News, November 30, 1928

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Boy Scout Notes Troop 1, St. Paul's. out a real good knot-tying team. meeting was opéned by the This was soon done and we set to ing of assembly by Franklin work picking a good semaphore and Grant Beatty. The team. It was not easy to pick out oath and law and the pledge the best receiver, as about twenty flag was said. after which boys were all in the "sixty letter rector gave the boys a herp- a minute" class, from which our team must be picked. This job lesson. boys were lined up and sigwill be completed next week. was taught to them. They morse team, composed of William some of the arts of life- Ash and Vernon Jenner, was by "Hippo" Dutcher, Carl former. All these teams will repBill resent Troop 5 in an inter-troop and the blowing of taps the meet which is soon to come. was lined up by fours and After these various teams had while the band set the been chosen we enjoyed about ecout leaders held a short arence after the meeting and used some problems of coning the meetings on a regular Cub Scoute of the church regular meetings on Friday schools at 4 o'clock in the house of the church. Their the Rev. William Griffin, all boys from the ages. of twelve to come and join. ARSEN YAKOUBIAN, Thompson Troop No. 5. held its weekly meeting evening in the usual place. meeting was opened by our imaster with the Lord's oath and laws. We were glad to have Mr. Tanis come the night. the opening, we went about fifteen minutes of drill. The drill being over, ettled down to work. The first had to do was Dick A half hour of games The first game was an "antelope race," followed by "leap frog, "grab the hat" and "bull in the ring." When the excitement which the games created had died down, Patrol Leader Wilfred Starr, as he is known to us, led us in some singing and cheering. We then listened to the announcements and a short talk by Mr. Tanis, who passed many of our members on their various second and firstclass tests. The plans were then made for our Thanksgiving Day hike. This hike is for the purpose of passing all outdoor tests. All boys are requested to meet in front of the church at 8:80 sharp on Thursday morning. Now came tape and we were dismissed for the week TROOP 10. The first thing to be - Friday was the organizing of a basketball team for the game with Troop 6. There is some promising material in the troop. Beware, Troop 6. After this the patrols went to their corners and practiced various events for the coming inter-patrol rally. The supplies which were ordered a week ago have arrived. GEORGE EPPLE, Scribe. TROOP Wesley M. E. Church. al Forces Others to ApOn Friday, November 23, Troop 8 held its weekly meeting. Be- peal to State ginning with the Scout oath and law, and some drilling supervised Macon, Ga., Nev. 30.-Following the by Wilford James, patrol leader closing of the Fouth National Bank of of the Crow patrol. Then follow- Macon after run, eight other financial Institution have turned their ed some notices, most Important affairs over to the Stat Banking of all, the new contest for the ing It said that the closing of the Macon bank forced the best signaller, knot tier, etc. We others to down. then had some new games, superThe banks are the Farmers viser by Scoutmaster William S. Bank the Bank Courter. The meeting closed with Fort Valley, Irwinton Bank of winton, Bank of Byronville, the "Taps." Bank of Bradley, the Farmers and S. G. KEILLER, Scribe. TROOP Grace M. E. Church. Last Thursday, Mr. MacMillan opened the meeting at 7:30 o'clock with the oath and laws. Following the opening there was some fine drilling, the semaphore and morse teams also had practice. Bob Fippinger led the troop in semaphore signalling. After this practice, Mr. MacMillan gave an interesting talk on the subject of "making home base." In his talk Mr. MacMillan urged the scouts to try and make "home base" in every thing they attempted. Leo Krauthein received his tenderfoot pin at this meeting. After the talk there followed an interesting game period. Some new and exciting games were played and, needless to say, were enjoyed by all the Due to the fact that Thursday is n Day. the meeting this week will be held on Friday night instead of Thursday. R. BERDAN, Scribe. TROOP 65, Y. M. H. A. The meeting opened at 8 p. m. with the oath and laws. Jake Orenstein gave a talk on how to conduct a hobby tree. gave a short account on the hike we had last Sunday. A discussion arose as to whether we should have a meeting next Thursday or Wednesday. By popular vote it was decided to have the meeting on Wednesday. Our scoutmaster, Phil Sidel, gave us a long talk on how to pass tests and merit badges. Tests were passed by Jake Orenstein and Nathaniel Elkind. The meeting was called to order and we were dismissed at 9:30 D. m. CHARLES EDELSTEIN. Scribe. TROOP 85 Troop 35's meeting opened with the scout oath and laws. John Clark was acting as scoutmaster and from now on each patrol and each troop leader will have an opportunity to act as scoutmaster. The attendance was not as good but this was due to the mission. The boys who went to the mission showed up after it was over. At 7:45 o'clock the patrols went to their respective corners to practice first aid, signaling and knot tying. The boys who are on the knot tying team did fine and feel sure that they will make a good showing for themselves when the time comes. John Clark is the cause of this team, so let's give him a hand. He deserves After the patrol work a drill was held and the boys showed that they had been practising at home because they went through the different drills snappy, I'll say. The drill was followed by two games, Heads and Tails. and Snatch the Flag. The game of Snatch the Flag was a tie between the Flying Eagles and the Beavers. A few songs were sung after the games and Oh, Boy! You ought to have heard the singing, Why, Shrimp Van Duome- you all know he almost fell off the chair singing. Pretty unusual, I'll tell you. At 9:15 o'clock we were dismissed after having sang Taps. Our basketball team under the able guidance of Shrimp, tasted victory over Troop 21, by a score of 35 to 27. This game was played last Wednesday and was a pretty tough game. Next Wednesday we play the Indians. They had better get motorcycles If they want to beat us. See you Tuesday. So long. GUS RAUSCHENBACK. Scribe.