7782. Feliciana Bank & Trust Co. (Saint Francisville, LA)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: August 26, 1913
Location: Saint Francisville, Louisiana (30.780, -91.377)

Metadata

Model: gpt-5-mini
Short Digest: 91767a7e

Response Measures

Full suspension, Books examined

Description

Depositors made a quiet run that prompted the board to suspend payments (closed doors Aug 26, 1913). State examiner arrived; special agent/receiver (Capt. O. B. Steele) was appointed and the bank entered liquidation. Cause of withdrawals was fear of connection with the Bayou Sara Lumber Co. (a local failure) and general stringency of the money market. Dates derived from the articles: closure Aug 26, 1913; receiver/filing reported in early September 1913.

Events (3)

1. August 26, 1913 Run

Cause: Local Banks
Cause Details: Depositors withdrew funds due to fear the bank was involved with the Bayou Sara Lumber Co., which had recently gone into receivership, combined with money-market stringency.
Measures: Bank closed its doors and posted a placard stating suspension pending State Bank Examiner; notified State Examiner W. L. Young.
Newspaper Excerpt: There has been a quiet run on the Bank by depositors, who were possibly impressed with the fear that the Bank was involved with the Bayou Sara Lumber Co., which recently went into the hands of a receiver.
Source: newspapers

2. August 26, 1913 Suspension

Cause: Local Banks
Cause Details: Board cited withdrawal of deposits and inability to realize on loans (withdrawals linked to fears about association with Bayou Sara Lumber Co. and tight money market).
Newspaper Excerpt: FELICIANA BANK & TRUST CO. SUSPENDS. ... closed its doors Wednesday morning. A placard pinned to its doors told the story: 'On account of the withdrawal of deposits and our inability to realize at this time any money on our loans, the Board of Directors ... have decided ... to suspend temporarily.'
Source: newspapers

3. September 6, 1913 Receivership

Newspaper Excerpt: ...filed application ... to have Capt. O. B. Steele of Baton Rouge appointed as special agent to assist the bank examiner in liquidating the affairs of the Feliciana Bank & Trust Co., which closed its doors on August 26th.
Source: newspapers

Newspaper Articles (9)

1. August 30, 1913 The True Democrat Saint Francisville, Bayou Sara, LA

Article from The True Democrat, August 30, 1913

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Article Text

SUSPENSION OF THE BANK. Amid the confusion of tongues, and the stirring-up of a myriad of business details, incident to the suspension of the Feliciana Bank & Trust Co. our people should not lose their poise. For although a period of anxiety and suspense is to be undergone pending the pronouncement by the State Bank Examiner, and nothing but surmise attends the painful waiting, it is necessary that every one should keep up his courage and await even the worst with the determination to make the best of it. Only thus can misfortune lose the keenness of its stroke. It is very evident that even the temporary suspension is unfortunate, and any thing worse will be a calamity, which West Feliciana will feel from center to circumference for years to come, but it is useless to anticipate trouble. Let us rather at this hour hope that the state of affairs will justify the resumption, at an early day, of the institution so necessary to the conduct of local business. It is well also amid the babel to remember the past usefulness of the Bank and its officials to individuals and to the public, to appreciate the efforts made during the troublous years of agricultural depression to help parish and people out of their difficulties, the splendid fight of the officers and the directorate to save the institution. Realizing all this one can look upon the event calmly and justly. As a rule, wheniforgetting their personal troubles, our people are disposed to look at in this large way. They understand the untoward circumstances, and believe that if given a chance the Bank can right itself, and it is hoped most earnestly that the news of the next few days will justify this belief.

2. August 30, 1913 The True Democrat Saint Francisville, Bayou Sara, LA

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FELICIANA BANK & TRUST CO. SUSPENDS. A profound sensation was produced in St. Francisville and throughout West Feliciana parish when the Feliciana Bank and Trust Co. closed its doors Wednesday morning. A placard pinned to its doors told the story, as follows: "On account of the withdrawal of deposits and our inability to realize at this time any money on our loans, the Board of Directors of this bank have decided, that to protect the depositors, it is best to suspend temporarily. "Pending the arrival of the State Bank Examiner, and his advice, this Bank will be closed." State Examiner of State Banks, W. L. Young, was immediately notified and arrived Wednesday night. At this writing (Thursday morning) he is engaged in looking into the affairs of the Bank, and of course upon him will rest the decision as to what the Bank shall do. It is confidently believed that the Bank is solvent, and that it will be permitted to resume business in the course of 30 or 60 days. In the event of its liquidation, depositors are not expected to lose anything. There has been a quiet run on the Bank by depositors, who were possibly impressed with the fear that the Bank was involved with the Bayou Sara Lumber Co., which recently went into the hands of a receiver. These withdrawals, coupled with the stringency of the money market, prevented the Bank at this time from getting financed to meet obligations falling due. The Feliciana Bank and Trust Co. was originally the Bank of West Feliciana, which was organized eighteen years ago by persons mainly of this parish, Edward J. Buck, now of Mobile, Ala., was the first cashier, and J. R. Matthews the second and present one. Judge S. McC. Lawrason has always been the president, with the exception of a short while when the late Edward L. Newsham was at the head. The early part of 1913, it merged with the People's Bank of St. Francisville, and coincidentally the name was changed to Feliciana Bank & Trust Co. It has been prominent ever since its organization as one of the most progressive and enterprising institutions of the state. It has been a power in West Feliciana, and its work in carrying the parish through the trying boll weevil times of the past half-decade has been incalculable. Many who have homes and business now owe them to this Bank, who stood staunchly by them, at a time when other country banks were putting the brakes on every e enterprise offered. West hardly

3. September 6, 1913 The True Democrat Saint Francisville, Bayou Sara, LA

Article from The True Democrat, September 6, 1913

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FELICIANA BANK & TRUST CO. IN LIQIDATION. Attorney T. Jones Cross of Baton Rouge, representing State Examiner of State Banks, W. L. Young, on Saturday filed application in the Twen. ty-fourth Judicial District Court to have Capt. O. B. Steele of Baton Rouge appointed as special agent to assist the bank examiner in liquidating the affairs of the Feliciana Bank & Trust Co, which closed its doors on August 26th. The application also provided for fixing the special agent's bond. Judge J. L. Golsan recused himself in this case on the grounds that he is a stockholder and director in the Feliciana Bank & Trust Company, and appointed Judge J. E. Leblane of the Twenty-first District to act. Judge Le Blanc has approved the application for the appointment of Capt. Steele as receiver, and fixed his bond at $10,000. Monday, being Labor Day, Messrs. Young and Ward spent the week-end in Shreveport, returning to St. Fran-

4. September 20, 1913 The True Democrat Saint Francisville, Bayou Sara, LA

Article from The True Democrat, September 20, 1913

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COURT TO DECIDE ON BANKING QUESTIONS The affairs of the Feliciana Bank & Trust Co., which recently suspended, will reach the courts, Monday, when attorneys for a Baton Rouge bank will ask the Court to make a ruling to determine the liability in regard to certain checks that were drawn by the depositors in favor of their creditors. It appears that shortly before the bank suspended local parties had remitted to business associations by means of checks drawn on the Feliciana Bank & Trust Co. The checks were in turn deposited by their recipients and placed in other banks for collection which in turn sent them to this bank for payment. In paying these checks this bank forwarded exchange on its correspondent in New Orleans which was not honored, as the bank at this place was then in the hands of the State Bank Examiner. It is this conflict of interests which the Court will be asked to straighten out. If the court holds that the liability is on the part of the drawer of the check the Bank Examiner will be asked to return the respective checks which are thus involved, and if the Court holds that the liability is on the part of this bank the parties now holding this exchange will be considered in the same light as that of a depositor. In the meantime, until this question is finally decided, it will not be possible for the special agent to balance any of the pass books, as it may be possible that some of them will have to be returned. Judge J. E. LeBlanc of the 21st Judicial District will preside in all cases coming before this Court concerning the affairs of the Feliciana Bank & Trust Co., as Judge J. L. Golsan will recuse himself, being an officer of the defunct bank. It is expected that a case involving the set-off privilege will be heard within the next week or two to determine what action can be taken by Capt. O. B. Steele, the Special Agent to the State Examiner of State Banks, in applying the amounts on deposit by any individuals or firms who may have Ipaper maturing in the bank. h Special Agent Steele has been here e. several days, this week, and his attor A ney, Col. Cross, was here Tuesday Assistant Bank Examiner Ward was a the bank on Wednesday and Thursday

5. September 27, 1913 The True Democrat Saint Francisville, Bayou Sara, LA

Article from The True Democrat, September 27, 1913

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THE INVENTORY FILED AT THE COURT HOUSE BY THE STATE EXAMINER OF STATE BANKS IN THE SUSPENSION OF THE FELICIANA BANK & TRUST CO. HAS BEEN PRINTED IN PAMPHLET FORM, WHICH ARE ON SALE AT $1.00 PER COPY. THIS INVENTORY CONTAINS A LIST OF ALL NOTES WHICH THE BANK HAS OUTSTANDING, THE DATES WHEN SAME WERE MADE AND THE DATES ON WHICH THEY ARE DUE, A LIST OF ALL COLLATERAL GIVEN TO SECURE LOANS, THE NAMES OF ALL ENDORSERS, A LIST OF THE OVERDRAFTS AND A STATEMENT OF THE CONDITION OF THE BANK AT THE TIME IT CLOSED ITS DOORS. PARTIES WISHING ONE OF THESE PAMPHLETS CAN SECURE SAME BY REMITTING $1 TO THE TRUE DEMOCRAT, AT, ST. FRANCISVILLE, LA.

6. October 4, 1913 The True Democrat Saint Francisville, Bayou Sara, LA

Article from The True Democrat, October 4, 1913

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7. October 11, 1913 The True Democrat Saint Francisville, Bayou Sara, LA

Article from The True Democrat, October 11, 1913

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DEPOSITORS MEETING. Feeling that has been general among depositors ever since the failure of the Feliciana Bank & Trust Co., and the subsequent direction of affairs by the State Bank Examiner found expression, Wednesday night in a meeting, when resolutions were adopted, embodying certain questions to be asked the State Bank Examiner on his arrival in town Friday. The resolutions were signed by A. F.Barrow, Abe Mann, P. S Johnson, George Newman, George Rettig. Judge Golsan acted as chairman of the meeting,and E. S. Muse secretary. About 35 persons were present, and there would probably have been more had they been appraised of the proposed meeting. The proceedings of the meeting were as follows: St. Francisville, La., Oct. 8, 1913. At a meeting of a number of the depositors of the defunct Feliciana Band and Trust Co., held at the Court House, in the town of St. Francisville, La., on Wednesday, October 8, 1913, at 7:30 p. m. Judge Jos. L. Golsan was made temporary Chairman of the meeting, when after a general discussion, on motion, duly seconded, the chair appointed the undersigned Committee to draft suitable resolutions to be presented to Wm. L. Young, State Examiner of State Banks. The Committee then reported the following resolutions: We, your Committee beg leave to make the following report: That the following matters be laid before the State Examiner of State Banks, Wm. L. Young, with the request that he give us an immediate answer to the following questions: 1. What will be the percent of cost in the liquidation of the bank's affairs? 2. Why can't you give us a local man that will give his entire attention to the business of the bank? 3. With what bank are the funds taken from this bank now deposited, and are we receiving interest on that deposit? If so how much? If not, why not? 4. It is now reported to us that an amount now approximating $25,000.00 has been collected. We desire to know if it is possible for some arrangement to be made by which the bank can distribute these funds to the depositors, and if not is that amount not sufficient when added to the cash which is in your hands to enable the bank to begin some sort of activities itself? 5. By all means we ask that you give us a receiver that will be in his office during office hours every day in the week. 6. We ask that a weekly statement of collections be posted in the Bank every Monday morning. 7. Local conditions make us feel that in the selection of an attorney, one should be selected whose usual charge is in keeping with circumstances and conditions, such as we have been accustomed to, and therefore ask that in the selection of an attorney a definite fee be arranged for, or an attorney be selected from our surrounding country, who has been accustomed to charge fees such as we feel able to pay. We have no desire to criticize Col. Cross, or object to him as an excellent lawyer, but this being a simple business question, we desire to look into the matter of cost of the attorney, as we feel sure that an attorney equally as competent as the distinguished gentleman, could be selected from the district. We your Committee, suggest that it be the sense of this meeting that our action to-night, is in nowise intended as a reflection or any dissatisfaction with Capt. O. B. Steele, in his capaci ty or intentions to attend to our af fairs, but we simply feel that it is to the best interest to all concerned from the question of economy tha we select a local man, especially as Capt. Steele cannot give us the time that we feel the affairs of our bank demand, as we feel a man in authori ly should be in the bank during busi ness hours in order to answer any and all questions pertaining to the bank's affairs. h Respectfully submitted, e (Signed:) n A. F. BARROW, g ABE MANN,

8. October 25, 1913 The True Democrat Saint Francisville, Bayou Sara, LA

Article from The True Democrat, October 25, 1913

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THE INVENTORY FILED AT THE COURT HOUSE THE INVENTORY FILED AT THE COURT HOUSE BY THE STATE EXAMINER OF STATE.BANKS IN THE SUSPENSION OF THE FELICIANA BANK & TRUST CO. HAS BEEN PRINTED IN PAMPHLET FORM, WHICH ARE ON SALE AT $1.00 PER COPY. THIS INVENTORY CONTAINS A LIST OF ALL NOTES WHICH THE BANK HAS OUTSTANDING, THE DATES WHEN SAME WERE MADE AND THE DATES ON WHICH THEY ARE DUE, A LIST OF ALL COLLATERAL GIVEN TO SECURE LOANS, THE NAMES OF ALL ENDORSERS, A LIST OF THE OVERDRAFTS AND A STATEMENT OF THE CONDITION OF THE BANK AT THE TIME IT CLOSED ITS DOORS. PARTIES WISHING ONE OF THESE PAMPHLETS CAN SECURE SAME BY REMITTING $1 TO THE TRUE DEMOCRAT, AT ST. FRANCISVILLE, LA.

9. November 8, 1913 The True Democrat Saint Francisville, Bayou Sara, LA

Article from The True Democrat, November 8, 1913

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Matt Gilmore, owners of hogs are hereby directed to follow ordinance relative to hogs running at large, viz; November 15th to February 1st, provided all hogs are ringed. Road Committee made the following report: Parish of West Feliciana TO H. H. Hutches, 16 days @ $75.00 per. $46.16 T. month J. Ard, 16 days @ $75.00 per mo. 46.16 Wilford Hutches, 16 days @ $50.00 30.77 per month 12.50 Jno. Parker, 10 days @ $1.25 1.25 Nelson, 1 day @ $1.25 Mrs. S. H. Connell, 16 days @ $1.25. 20.00 $156.84 $20.00 Repairs on road machine, N. H 9.15 Repairs and oils to Jim Roth 1.00 Jim Rooch, road work .50 G. W. Bookter, repairs $187.49 The above is the expense of road machine working 30 miles road; working average cost of $6.25 per mile. Special road and bridges work, W.S. Maryman. Jackson road, hauling $19.75 and putting in culverts N. Harvey, Port Hudson road, grading Thompsons creek hill and put19.00 ting in culverts Rob Wells, hauling culverts Jackson 1.00 Hy road Pipes, working hills and building 20.95 bridge in 5th ward $60.70 Report of Parish Treasurer reads as follows: St. Francisville, La., Nov. 5, 1913. The Honorable the Police Jury, Parish of West Feliciana. Gentlemen:-I beg to submit a report of the affairs of my office since last meeting of your body. Amount on hand last report on deposit in Feliciana Bank & Trust Co. $4,546.71 none Receipts from sheriff On October 25th the United States Fidelity & Guaranty Co. paid to this Parish the Depository Bond it had made on the deposit in the Feliciana Bank & Trust Co., this bond being for $2,500.00. The president and myself receipted to the bonding company for this amount, and subregated to the bonding company Fe- the amount of $2,500 of the deposit in the liciana Bank & Trust Co., and also gave the company an order on the State Bank Examiner authorizing that official to pay to said bonding company the sum of $2,500.00 out of the deposit to the credit of this Parish in that Bank in the course of liquidation. The amount of $2,500.00 paid to the Parish was deposited by me in the Louisiana National Bank, Baton Rouge, La., one of the State fiscal agents, to the credit of the "Parish of West Feliciana, J. R. Matthews, Treasurer." I have drawn against this amount as follows: $2,500.00 Amount deposited Less warrants and certificates 1,487.88 paid by me Balance cash due in La. National Bank, Baton Rouge, La $1,012.12 This leaves to the credit of the Parish of West Feliciana in the Feliciana Bank & Trust Co. the sum of $2,046.71, which will be paid to this Parish during the course of liquidation of said Bank. Therefore the balances in my hands to-day are as follows: Due from Feliciana Bank & Trust C. (in liquidation) $2,046.71 Due from La. Nat. Bank, Baton Rouge, La. 1,012.12 Total cash due Treasurer $3,058.83 The Louisiana National Bank, Baton Rouge, La., has given this Parish a depository bond in the United States Fidelity & Guaranty Co. of Baltimore for $7,500.00. And they also will pay 2 per cent interest on daily balance carried with them. I respectfully request your honorable body to designate a Depository for the funds in my hands. Respectfully submitted, J. R. MATTHEWS, Parish Treasurer There being no further business the meeting adjourned. C. F. HOWELL, President. R. M. LEAKE, Clerk. SHERIFF'S SALE. 1 State of Louisiana, Parish of West Feliciana, 24th Jud. Dist. Court. Succession of E. C. Henderson, dec'd. By virtue of a Commission to the Sheriff directed by the Honorable, the 24th Judicial District Court in the e matter of the Succession of E. C. Henderson, deceased, I will offer for sale to the highest bidder at the front door of the Court House in the town of St. Francisville, La., at the hour of 11