Bank of Jonesboro (Jonesboro, NC)

Episode Information

Episode UID
66038171346
Episode Type
Suspension โ†’ Closure
Bank Type
state
Bank ID
6603817 routing
Routing Number
66-0381
Start Date
February 7, 1912
Location
Jonesboro, North Carolina

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
33165ecd9586b71e

Response Measures

None

Events (2)

1. February 7, 1912 Suspension
Cause
Bank Specific Adverse Info
Cause Details
State examiner found capital stock seriously impaired due to bad loans and bad debts.
Newspaper Excerpt
The Bank of Jonesboro, Lee county, was closed to-day by order of the Corporation Commission, on the strength of a report from State Bank Examiner G. V. Brown, showing a serious impairment of the capital stock through bad debts due the bank.
Source
newspapers
2. February 8, 1912 Receivership
Newspaper Excerpt
Judge Whedbee this evening appointed A. A. F. Sewell receiver for the Bank of Jonesboro here, and he will take charge of the business tomorrow. In a statement made tonight State Bank Examiner Brown stated that all the capital stock is a total loss, but that depositors will lose very little.
Source
newspapers

Newspaper Articles (3)

Article from The Times Dispatch, February 8, 1912

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Article Text

WILL SEEK POISON IN MEN'S BODIES Coroner's Jury Makes Investigation Into Recent Tragedy at Raleigh. OFFICERS OF NEW RAILROAD Bank of Jonesboro Closed by Order of Corporation Commission. (Special to The Times-Dispatch.] Raleigh, N. C., February 7.-The coroner's jury completed for the present its inquest into the deaths of the three young men from Benson, found dead Monday night in the Wilson Apartments, and took a recess this evening to await chemical analysis of their stomachs for poisons. One of the jurors, 111 speaking of this action, said: In the meantime the police and detectives must do a great deal of work, ns there IS mystery about the case." He referred to the peculiar fact that there was deadly accumulation of gas in the rooms for so many hours without its pervading other portions of the building to any most noticeable Megree: to the testimony of an employe of the gas company that he blew out the pipes in the building at 5 o'clock Monday evening and detected no odor of gas around the locked room, and to the testimony of Chief of Police Stell that he found he could lift the door, and without an instrument of any kind open the door. although locked on the. inside. The men whose deaths are under investigation are: Alton R. Johnson, Hugh Porter, and Fred Jernigan. Seventeen witnesses were sworn for examination. Miss Edna Weeks, who was to have married Johnson on Monday, told of coming to Raleigh with the three dead young men, of their failure to report Monday, and her efforts to locate them. An autopsy developed no suspicious condition of the bodies. The new Raleigh, Charlotte and Southern Railway Company, a subsidiary of the Norfolk and Southern, perfected organization here to-day by the election of E. T. Lamb, of Norfolk, as president; E. C. Duncan, of Raleigh, vice-president: Frederick Hoff. second vice-president: Mathias Manly, treasurer, and Chadbourne & Shore, general counsel. The company absorbs the Raleigh and Southport, Aberdeen and Asheboro and the Durham and Southern, in linking up a through line, Raleigh to Charlotte and on to the South, and will establish one of the most important lines of road projected in this State in many years. The Bank of Jonesboro, Lee county. was closed to-day by order of the Corporation Commission, on the strength of a report from State Bank Examiner G. V. Brown, showing a serious Impairment of the capital stock through bad debts due the bank. The Institution has been in unsatisfactory condition for several months, but has been allowed to run on in the hone that


Article from The Caucasian, February 8, 1912

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Article Text

Bank of Jonesboro Goes Under. The Bank of Jonesboro, in Lee County, was ordered closed yesterday by the Corporation Commission on the report of Bank Examiner Brown, who, on Tuesday, made an examination and found the capital stock impaired. Mr. Brown is in charge of the bank and will continue until a receiver is named by the courts. Bad loans are said to be responsible for the trouble.


Article from The Richmond Virginian, February 9, 1912

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Article Text

DEPOSITORS ESCAPE IN JONESBC RO BANK (Special to The Richmond Virginian.) JONESBORO, N. C., Feb. 8.-Judge Whedbee this evening appointed A. A. F. Sewell receiver for the Bank of Jonesboro here. and he will take charge of the business tomorrow. In a statement made tonight State Bank Examiner Brown stated that all the capital stock is a total loss, but that depositors will lose very little.