7217. Fordsville Banking Company (Fordsville, KY)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
February 22, 1911
Location
Fordsville, Kentucky (37.636, -86.717)

Metadata

Model
gpt-5-mini
Short Digest
891dd0f9

Response Measures

Full suspension

Other: Assignee appointed and estate being liquidated; appraisement and claims notice follow.

Description

Articles report a small run precipitated by failures of other local banks; the Fordsville bank failed to open (deed of assignment prepared) and an assignee (receiver) handled the estate. Appraisal and assignee notices confirm the bank remained in assignment (closure). Dates drawn from newspaper publication (Feb 22, 1911) and appraisal (Mar 2, 1911).

Events (4)
1. February 22, 1911 Run
Cause
Local Banks
Cause Details
Failures of the State Bank of Centertown and the Ohio County Bank at Hartford shook confidence and precipitated a small run on Fordsville Banking Co.
Measures
Placed the institution in the hands of an assignee; deed of assignment prepared and to be filed.
Newspaper Excerpt
There was a small run and it was decided to place the institution in the hands of an assignee because the run took the reserve below the legal requirement.
Source
newspapers
2. February 22, 1911 Suspension
Cause
Local Banks
Cause Details
Decision to file assignment followed small run triggered by recent failures of other local banks which reduced reserves below legal requirement.
Newspaper Excerpt
The Fordsville Banking Company ... failed to open its doors this morning. A deed of assignment was prepared to-night and will be filed at Hartford ...
Source
newspapers
3. March 2, 1911 Receivership
Newspaper Excerpt
We, the undersigned appraisers of the assigned estate of the Fordsville Banking Company ... given under our hands this March 2, 1911. J. F. COOPER, J. H. LOYD, J. W. McCARTY, Assignee, Fordsville Banking Co.
Source
newspapers
4. July 21, 1911 Other
Newspaper Excerpt
The undersigned assignee of the Fordsville Banking Company will be in Fordsville ... on Saturday, August 19, 1911, at which time and place said assignee will sit to receive claims against said estate. This July 21, 1911. J. W. McCARTY. Assignee of the Fordsville Banking Company
Source
newspapers

Newspaper Articles (5)
1. February 22, 1911 The Breckenridge News Hardinsburg, Cloverport, KY
Article from The Breckenridge News, February 22, 1911

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Article Text

FORDSVILLE BANKING COMPANY CLOSES. Small Run Following Failure of Other Banks Caused Step. Will File Assignment At Hartford. THIRD BANK TO FAIL. Owensboro, Ky., Feb - The Fordsville Banking Company at Fordsville, Ohio county, failed to open its doors this morning. A deed of assignment was prepared to-night and will be filed at Hartford, the county seat of Ohio county, in the morning. The bank statement filed with the Secretary of State on December 15 last, showed that the bank at that time had a surplus and undivided profits of $650, deposits of $55,000; loans and discounts of $48,000; stocks and bonds, $9,500;real estate, furniture and fixtures, $6,000, and overdrafts, $2,000. A. J. Wilson was the cashier at the time of the December statement. Among the stockholders are A. B. McCarty, J. H. Roberts, W. A. Flimister, Morris Wilson, T. J. Ratcliff, John T. Smith,J. B. Westerfield and twenty-five others. Smith is the president and Westerfield vice president of the concern. During the past few weeks the State Bank of Centertown and the Ohio County Bank at Hartford, both in Ohio county, failed and it is said that the confidence of the people was shaken somewhat in the Fordsville bank. There was a small run and it was decided to place the institution in the hands of an assignee because the run took the reserve below the legal requirement. The officers say the depositors will be paid in full and it is not thought that the stockholders will be called upon to pay anything in to meet a loss.

2. March 8, 1911 The Hartford Herald Hartford, KY
Article from The Hartford Herald, March 8, 1911

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Article Text

BANK AFFAIRS GETTING PUT INTO GOOD SHAPE The attorneys for the Fordsville Banking Co., Messrs. Heavrin & Woodward, were questioned by us as to the prospect for depositors in that institution. They~each state that the depositors can safely count on 75c to the dollar, but that they will have to wait, as it is impossible to realize on a bank's notes and mortgages at once. These gentlemen are hopeful that the depositors will be paid in full, but say that a loss of 25 per cent. to the depositors will be the limit of loss. Dr. J. W. McCarty, the assignee, knows all the bank's patrons and is rapidly converting its assets into cash for the purpose of paying a dividend. The appraisement of the assets of the Fordsville Banking Company follows: Fordsville, Ky., March 2, 1911. We, the undersigned appraisers of the assigned estate of the Fordsville Banking Company, being first duly sworn, do certify that we have appraised all notes when taken together at the sum of $30,000.00 and we appraise the overdrafts at $800.00. We also appraise the banking house and lot, together with the other real estate owned by said bank, at $3,350.00. And we appraise the furniture and fixtures, including two safes, at $1,200.00. Cash and cash items, $1,141.64 of which $696.31 is on deposit with the Bank of Fordsville, of Fordsville, Ky. And we appraise the stock owned by said bank at $1,147.64 of which $696.31 is on taken together amount to $44,129.64 and which sum we have charged to the assignee. Given under our hands this March 2, 1911. J. F. COOPER, J. H. LOYD, J. W. McCARTY, Assignee, Fordsville Banking Co. Subscribed and sworn to before me by each of the above parties this March 2, 1911. P. C. COOPER, Notary Public Ohio County. My Commission Expires February 13, 1912. The bank's indebtedness follows: Deposits subject to check$15,878.93 ....... 30,727.97 Time deposits

3. July 26, 1911 The Hartford Herald Hartford, KY
Article from The Hartford Herald, July 26, 1911

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Article Text

Notice. The undersigned assignee of the Fordsville Banking Company will be in Fordsville, Ohio county. Kentucky. at the office of the Fordsville Banking Company, on Saturday. August 19, 1911, at which time and place said assignee will sit to receive claims against said estate. and any creditor failing to present at the time named, his claims. verified in the manner claims are required to be verified. against the estate of decedents excent that they need not be verified by a person other than the claimant. shall be deemed to have waived his right tn any part of the assigned estate. See Russell's Statutes. Sec. 402. This July 21, 1911. J. W. McCARTY. 30t4 Assignee of the Fordsville Banking Company

4. August 2, 1911 The Hartford Herald Hartford, KY
Article from The Hartford Herald, August 2, 1911

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Article Text

Notice. The undersigned assignee of the Fordsville Banking Company will be in Fordsville, Ohio county, Kentucky, at the office of the Fordsville Banking Company, on Saturday, August 19, 1911, at which time and place said assignee will sit to receive claims against said estate, and any creditor failing to present at the time named, his claims, verified in the manner claims are required to be verified, against the estate of decedents, except that they need not be verified by a person other than the claimant, shall be deemed to have waived his right to any part of the assigned estate. See Russell's Statutes, Sec. 402. This July 21, 1911. 30t4 J. W. McCARTY, Assignee of the Fordsville Banking Company.

5. August 4, 1911 The Hartford Republican Hartford, KY
Article from The Hartford Republican, August 4, 1911

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Article Text

Notice. The undersigned assignee of the Fondsville Banking Company (will be in Fordsville, Ohio county, Kentucky, at the office of the Fordsville Banking Company, on Satunday, Alugnst 19,1911 at which time and place buid assignee will sit to receive claims against said estate, and any oreditor failing to present at the time named, this claims, verified in the manner claims are required to be verified, against the estabe of decendents, except that 'they need not be verified by a person other than the claimant, shall ibe deemed to have waived his right to any part of the alsigned estate. See Russell's Statutes, Sec. 402. This July 21, 1911. 2t4 J. W. McCARTY, Assimee of the Fordsville Banking Company.