Atlantic Trust Company - Baltimore, MD

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: February 1, 1901*
Location: Baltimore, Maryland (39.290, -76.612)

Metadata

Model: gpt-5-mini
Short Digest: 82bf1e98

Response Measures

None

Description

Article (New-York Tribune, 1903-02-25) states that Atlantic Trust Company 'had gone into the hands of a receiver' in Baltimore (reported in connection with events around 1901). No mention of a depositor run or temporary suspension; the bank appears to have been placed in receivership (closure). Date of receivership is not precisely given; placed in early 1901 in the article's narrative.

Events (1)

1. February 1, 1901* Receivership

Newspaper Excerpt: In that city, it was reported, he had been the promoter of the Atlantic Trust Company, which had gone into the hands of a receiver.
Source: newspapers

Newspaper Articles (1)

1. February 25, 1903 New-York Tribune New York, NY

Article from New-York Tribune, February 25, 1903

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Article Text

RECORD OF DR. FLOWER. His Relations to a Company Said To Be a Get-Rich-Quick Concern. In January, 1901, the stockholders of the Arizona, Eastern and Montana Smelting. Ore Purchasing and Development Company were in a state of alarm and were declaring that they had been swindled. Dr. R. C. Flower, one of the alleged promoters of the company, had left the city. Marx E. Harby. of counsel for a committee of the stockholders, said his clients had lest between $500,000 and $900,000 by Investing with Dr. Flower. who had represented himself to be a broter of Governor Flower. The company was organized in 1899 under the laws of West Virginia, with shares of the par value of & The company paid three monthly dividends of 2 per cent, and then the stockholders were alarmed by a report that the sheriff had removed the furniture from the offices of the concern In Wall-st. and that the officers of the company had disappeared. It was declared in the financial district that the company was a "get-rich-quick" concern. It had purchased a copper mine in Yavapal County. Ariz., by which it was enabled to pay $38,000 in dividends. The mine was purchased from Mrs. H. B. Clifford, who got it back by the foreclosure of a mortgage. Business men of Baltimore were said to have lost about $75,000 by investing in Flower's mining company. In that city, it was reported. he had been the premoter of the Atlantic Trust Company, which had gone into the hands of a receiver. In February. 1901. Dr. Flower was in El Paso, Tex., where he had gone from Mexico. He said he had been acting merely as an agent for the sale of the mining company's stock under the directions of the management of the company. He said he never own d a mine and had nothing to do with the company except to sell stock for it. He was running a mine in Mexico, he said, and was in Texas to buy machinery, but he intended to return to New-York and straighten out the affairs of the mining company. Henry W. Unger said yesterday regarding Flower's mining stock deals: "When I was Assistant District Attorney. some time in the summer of 1900. Detective Patrick F. Gargan. who was detailed in Wall Street on commercial swindles. came to me with a large number of complaints against Dr. R. C. Flower. The complaints were from people who asserted that Dr. Flower had not treated them right in mining stock deals. The complaints made a strong case against Dr. Flower, and I immediately set to work to prepare criminal proceedings against him. Before I was ready to go before the grand jury every one of the complaints was withdrawn."