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

Bank Information

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

Metadata

Model
gpt-5-mini
Short Digest
74a7a855

Response Measures

None

Description

The bank closed its doors September 25, 1909 and a receiver (W. C. Sterrett/Starrett) is named in later 1912 articles describing litigation. No contemporaneous run is described in the provided articles. The petition alleges the correspondent (Second National Bank of Cincinnati) fraudulently applied funds and wrecked the Alabama bank, so cause is classified as 'correspondent'. OCR shows two spellings of the receiver's name (Sterrett/Starrett); both refer to the same receiver in these reports.

Events (3)
1. September 25, 1909 Receivership
Newspaper Excerpt
W. C. Sterrett, receiver for the Alabama Trust and Savings Company of Birmingham, Ala., which closed its doors September 25, 1909.
Source
newspapers
2. September 25, 1909 Suspension
Cause
Correspondent
Cause Details
Petition alleges Second National Bank of Cincinnati, its correspondent, fraudulently applied the deposit balance, wrecking the Alabama Trust & Savings Company.
Newspaper Excerpt
which closed its doors September 25, 1909.
Source
newspapers
3. May 11, 1912 Other
Newspaper Excerpt
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.
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.