Southern Bank (Jackson, MS)

Episode Information

Episode UID
8262714791382
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
826271479 hash
Start Date
February 22, 1915
Location
Jackson, Mississippi (32.299, -90.185)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
5587bde8ed867592

Response Measures

None

Description

Officers mortgaged personal property to pay depositors in full; bank had been in receivership.

Events (2)
1. February 22, 1915 Other
Newspaper Excerpt
has settled in full with creditors ... checks have been sent to all creditors in full settlement of their claims
Source
newspapers
2. February 22, 1915 Receivership
Newspaper Excerpt
The Southern Bank ... which was placed in the hands of a receiver some time ago
Source
newspapers

Newspaper Articles (2)
1. February 22, 1915 The Hattiesburg News Hattiesburg, MS
Article from The Hattiesburg News, February 22, 1915

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Article Text

BANK TO PAY ALL. Jackson, Miss., Feb. 22.-The Southern Bank, a negro financial institution of this city, which was placed in the hands of a receiver some time ago, has settled in full with creditors. In order to accomplish this three officers of the bank, President L. K. Atwood, Vice President C. N. Miller, and Cashier S. A. McKissick, sacrificed their personal property, which was in no way involved in the bank's affairs.

2. February 24, 1915 The Semi-Weekly Leader Brookhaven, MS
Article from The Semi-Weekly Leader, February 24, 1915

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Article Text

HEADS OF JACKSON NEGRO BANK PAY ALL DEPOSITORS IN FULL The Southern Bank, a negro financial institution of this city, which was placed in the hands of a receiver some time since, has named settlement in full with its creditors. In order to accomplish this three officers of the bank, President L. K. Atwood, Vice-President C. N Miller and Cashier S. A. McKissick, sacrificed their personal property, which was in no way involved in the bank's affairs. They felt, however, that they owed it as a duty to the depositors that there be no losses sustained by members of their race who had placed money in their institution, and accordingly they mortgaged their own property in order to raise funds and make it possible to pay all creditors in full. The liquidation work was handled by the Jackson State National Bank, and checks have been sent to all creditors in full settlement of their claims.-Jackson Daily News.