gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d5bd22eaacc5d4c7
Response Measures
Public signal of financial health, Capital injected, Full suspension, Books examined
Receivership Details
Depositor recovery rate
86.6%
Date receivership started
1928-11-26
Date receivership terminated
1937-09-27
OCC cause of failure
Governance
Share of assets assessed as good
80.2%
Share of assets assessed as doubtful
10.6%
Share of assets assessed as worthless
9.3%
Description
Receiver appointed by the Comptroller; bank remained in receivership and did not resume as an operating bank.
Events (6)
1.September 17, 1906Chartered
Source
historical_nic
2.November 26, 1928Receivership
Source
historical_nic
3.November 26, 1928Run
Cause
Rumor Or Misinformation
Cause Details
Two-hour run sparked by baseless rumors about the bank's condition and collapse of sale negotiations.
Measures
Board of directors decided to close doors and take steps toward reorganization; iron gratings drawn; police called.
Newspaper Excerpt
closed its doors at 11 a. m. today during a run of withdrawals.
Source
newspapers
4.November 26, 1928Suspension
Cause
Rumor Or Misinformation
Cause Details
Directors closed the bank to conserve assets amid heavy withdrawals caused by rumors.
Newspaper Excerpt
closed its doors today after two hour run of withdrawals. ... board of directors at a special meeting had decided to close the doors
Source
newspapers
5.November 30, 1928Receivership
Newspaper Excerpt
Claude Gilbert, receiver for the Fourth National bank, appointed by the comptroller, arrived here yesterday and took charge of the affairs of that [bank].
Source
newspapers
6.July 12, 1929Other
Newspaper Excerpt
The bank re-opened at 3 o'clock, yesterday afternoon, and continued open until ... there were not more than dozen or so persons in line at time.
Source
newspapers
Newspaper Articles (24)
1.November 26, 1928Santa Cruz Evening NewsSanta Cruz, CA
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BOULDER DAM BILL PASSAGE SURE-HIRAM
CHICAGO, III., Nov. Senator Hiram Johnson of California took advantage of a fleeting stop over here on his way to Washington today to tell newspapermen of his conviction that his pet Boulder Canyon dam bill would be passed during the short session of congress. Its passage, he said, is "beyond all doubt."
RUN CAUSES BANK TO CLOSE
MACON, Ga., Nov. The Fourth National bank of Macon, with capital of $500,000 and resources listed at more than $11,000,000, closed its doors at 11 m. today during a run of withdrawals.
2.November 26, 1928Morning PioneerMandan, ND
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RUN RESULTS CLOSING-NEW BANK WILL PAY
Macon, The Fourth Bank Macon, capital of $500,000 and resources listed at than closed its doors at today during of bank had deposits of around Leon Dure president, issued meeting the board of directors had been Macon bank, capable and willing of taking over the paying fully and promptly the said, "that such bank will soon be established.
3.November 26, 1928The Butte Daily PostButte, MT
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'RUN' CLOSES DOORS OF BANK IN GEORGIA
MACON, GA., Nov. 26.-(P)-The Fourth National bank of Macon, with capital of $500,000 and resources listed at more than $11,000,000, closed its doors at 11 a. m. today during run of withdrawals. The bank had deposits of around 9,000,000.
4.November 27, 1928Joplin GlobeJoplin, MO
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DEPOSITORS FLOCK TO TO CON, THEIR MONEY.
Macon, Ga., Nov. Fourth bank Macon, with capital $500,000 and sources listed than $11,000,000, closed its doors today during of Leon Dure, president, issued statement that meetboard directors had the been decided to organize new Macon bank capable and willing of taking the and all depositors fully and paying promptly. President Makes Statement "There assurance," the every statement said, "that such bank will soon be established. Robb. chief national bank examiner for the Sixth federal serve left Atlanta today take affairs the to charge bank, which had deposits of around $9,000,000. President said that the Dure closing was due demand by depositors which shortly after the bank opened for business view of these demands by said, "the board depositors," directors went session. After the existing situation. the reviewing board determined to close the doors the bank. "The encouraging statements which have the directors and managing officers the bank the that new bank justify hope will soon be organized the business and of Fourth and relieve the hardships which resulted closing the doors."
5.November 27, 1928The Daily AdvertiserLafayette, LA
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CITIZENS BANK IN FORT VALLEY, GA. HAS CLOSED DOORS
Announcement Of This Action Made Today Through State Banking Department
(By The Associated Press) heavy run which followed the closing of the Fourth National Bank of Macon yesterday was said responsible today for the suspension of business by the Citizens Bank of Fort Valley, an institution with of $330,000. In referring to the bank's failure to open for business this morning, President Martin at conferences between the directors last night and today, the condition brought about by the closing of the Fourth National Bank in Macon were, considered and it was decided that in order to conserve the assets of the Citizens Bank it was decided to turn the bank over to the State Banking Department. The president said the bank was solvent and he hoped some arrangement could be worked with depositors to prevent any losses.
(By The Associated Press) ATLANTA, Nov 27-State Supervisor of Banks A. B. Mobley today announced he had received notice of the closing of the Citizens Bank of Fort Valley Fort Valley is in central Georgia, near Macon where the Fourth National Bank closed yesterday after run. Details of action at Fort Valley were not immediately available to the state banking department It was stated, however, that the bank did not open this morning for business. It was capitalized at $100.000 and had surplus and profits of about $78.000, according to the banking department.
6.November 27, 1928Hanford Morning JournalHanford, CA
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RUN CAUSES GEORGIA BANK TO CLOSE DOORS
Macon, Ga., Nov. 26.-The fourth national bank of Macon, one of the largest financial institutions in central Georgia, closed it doors today after a two hour run of withdrawals. Leon S. Dure, president, said the bank's board of directors at a special meeting had decided to close the doors and take steps toward reorganization of the institution. The bank, which was organized more than 20 years ago, had a capital of $500,000. deposits of approximately $9,000,000, and resources listed at more than $11,000,000.
7.November 27, 1928The Idaho StatesmanBoise, ID
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TWO-HOUR RUN CAUSES BANK TO CLOSE DOORS
MACON. Ga. Fourth National bank of Macon, one of the largest financial institutions in central Georgia, closed its doors Monday after two hour run of withdrawals. Leon S. Dure, president, said the bank's board of directors at a special meeting had decided to close the doors and take steps toward reorganization of the institution. The bank, which was organized more than 20 years ago, had capital of five hundred thousand dollars, deposits of approximately nine million dollars and resources listed at more than $11,000,000.
8.November 27, 1928The Macon NewsMacon, GA
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TRIAL EXPECTED
Old Friend, Arranging Bond. Says Transfer From Savannah Is Expected
Dure and rectors Still Confident as to Outcome of Move
HOPE FOR RELEASE TODAY HALF OF STOCK IS TAKEN
Legal Technicalities to Be Worked Out Providing for Hearing Here
Arrival his son John Walkand John Lewis. state senator Sparta Monday brought nearer to the goal furnishing $25,000 bond for release from Chatham county jail of John D. Walker former Georgia banker. prominent Meth odist layman and political figure. who being held under federal dictment with the em. bezzlement of $9,000 in municipal sinking fund bonds from the National Bank of Sparta Walker expects furnish bond Tuesday morning. was said last night by friend who acting counsel the defendant while he He went to the jail last afternoon and had long talk with Walker about the case. but until night Lawrence had heard nothing from Warren Grice. of Macon. whose name has been mentioned as Walker's chief counsel As Walker was arrested on bench following indictment, he will go before any the United States here Monday for preliminary hearerroneous impression gained that such procedure would be followed. Walker's Continued on Page Two
Plan Bank to Succeed Fourth National, Capitalized at
$750,000
The Fourth National bank. forced close its doors Monday withdrawals that hausted the available cash. will capitalized $750,000 under plans Leon Dure president and the board of who are meeting Tuesdav to discuss reorganization plans in detail. There everv assurance that will be effected and in fact one proposed stock already has been subscribed without any Mr. Dure further believed that the new arrangements can completed within few Mr. Dure said thus "prompt and full depositors of the old Fourth National. The bank bad been examined and found solvent and condition only few days before fatal according Ellis Robb. bank for the Sixth FedReserve district Evans. rational bank examiner institution pending of receivers The ascribed bank lause last week of that had been mending to sell the instiContinued on Page Two
9.November 27, 1928Shawnee News-StarShawnee, OK
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BANK IS CAUSE OF CRASH
MACON, Ga., Nov. 26 (AP- The Fourth National bank of Maccn. one of the largest financial institutions in central Georgia, closed its doors today after two hour run of withdrawals. Leon S. Dure, president said the bank's board of directors at special meeting had decided to More the doors and take steps toward reorganization of the institution The bank, which was organized more thon 20 years ago, had ital of $500,000, deposits of approximately $9,000,000, and resources listed more than $11,000,000. Its building stands at one of the busiest corners Macon. which one of the largest cities in President Dure said it was shown to be the "sense and determination," of the bank's directors to organize new bank, capable and willing to take care of the depositors fully and promptly, such payment desired continue to serve the people of Macon and the people of this territory. Officers of the bank declined to comment on the cause of the run. which began after the opening hour. At one time approximately 2,000 persons including depositors, stood in the vicinity of the bank. City and county police squads were called precautionary measure, but the run proceeded in orderly manner.
10.November 27, 1928The Morning PressSanta Barbara, CA
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Hundreds in Run on Bank in Macon, Ga.
One of Largest Financial Institutions in Southeast Closes Doors
MACON Ga., Fourth National Bank of Macon, one of the largest financial Institu tions central Georgia closed its doors today after two hour run of withdrawals. Leon president, said the bank's board of directors at special meeting had decided to close the doors and take steps toward reorganization of the The bank. which was organized more than 20 years ago, had capital of deposits of ap proximately and sources listed at more than $11. President Dure said It was shown to be the and determina tion,' of the bank's directors organize bank capable and willing take care of the deposit tors fully and promptly payment desired and continue serve the people Macon the people this territory Refuse to Comment Officers bank cause of the began after the open ly persons tors, stood the bank
City and county police squads were called but the proceeded manner Men and an bank books formed leading the bank from several directions Other persons curiosity and at gathered one time traffic the hood of the bank Many inside the persons doors when gratings drawn and entrances were the flood through They left tellers' the bank quietly
11.November 28, 1928Pasadena Star-NewsPasadena, CA
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EIGHT BANKS CLOSE IN GEORGIA PEACH BELT
Failure of Macon Institution Is Cause of Run on Accounts
MACON, Ga., Nov. small closed today as result the failure Monday of the Fourth National Bank Macon, listed resources of more than $11,000.000. With the exception of the CitiBank Fort Valley, talized at the other insti- capiBank Byronville, Irwinton Bank, Bank of Preston, Citizens Bank Company of CulloBank of Bradley, Farmers & Merchants Bank Gordon and Farmers Bank italized from $15,000 to $25,-
The institutions closed were heavy Tuesday due financial followed closing the Macon bank. All banks are located in the Geopeach belt. Exact cause the run was conrealed. although financial circles recent investments had turned poorly.
12.November 28, 1928The Pittsburgh PressPittsburgh, PA
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NINE BANKS CLOSED
Eigh Shut After Collapse of One in Macon.
By The United Press. Macon, Ga., Nov. 28.-Eight small Georgia banks were closed today as result of the failure Monday of the Fourth National Bank of Macon, with listed resources of more than $11,000,000. With the exception of the Citizens Bank of Fort Valley, capitalized at $100,000, the other institutions. the Bank of Byronville Irwinton Bank, Bank Preston. Citizens Bank Co. of Culloden, Bank Bradley, Farmers &, Merchants Bank of Gordon and Farmers Bank of were capitalized at from $15,000 to $25,000. The institutions were closed after heavy runs Tuesday due to the financial scare that followed closing of the Macon bank. All the banks were located in the Georgia peach belt.
EIGHT GEORGIA BANKS CLOSED Run on Reserve Agent Is Blamed; Reopening Promised MACON, Ga., Nov. 28.-(P)-The affairs of eight Georgia banks were in the hands of the state banking department today as a sequel to the closing of the Fourth National bank of Macon Monday. The Macon bank was their federal reserve agent. In each case officers assured depositors of protection and announced that reorganization and reopening would be effected as soon as possible. Heavy withdrawals brought about by a "financial scare" over the condition of the Fourth National, were blamed in every instancee. Meanwhile, the directorate of the Fourth National was busy arranging conferences looking toward reorganization and capitalization at $750.000 instead of $500,000 as at present. While officers of the Fourth Natiosal yesterday were issuing a statement which said a two-hour run Monday was due to "baseless rumors connected with the collapse of negotiations for sale of the institution to Atlanta financiers, the city commission was passing a resolution of confidence in its officers and directorate.
14.November 28, 1928The Brooklyn Daily TimesBrooklyn, NY
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EIGHT MORE BANKS CLOSE IN GEORGIA
Failures in Peach Belt Due to Collapse Yesterday of $11,000,000 Institution.
Macon, Ga., Nov. small Georgia banks closed today as the failure Monday of the Fourth National Bank of Macon, with listed resources of more than $11,000,000. With the exception of the Citizens Bank Fort Valley, capitalized at the other institutions, the Bank of Byronville, Irwinton Bank, Bank Preston, Citizens Bank Company Culloden, Bank of Bradley, Farmers Merchants Bank of Gordon, Farmers Bank of Byron were capitalized at from $15,000 to The institutions were closed after heavy runs due the financial that followed closing of the bank. All he banks located in the With Clyde Edwards in charge of an audit, Gilbert, named receiver of the Fourth National here, plans under today to adjust affairs so creditors cared for Exact cause of the run concealed, although circles recent turned out poorly.
15.November 28, 1928The Ogden Standard-ExaminerOgden, UT
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EIGHT BANKS CLOSE WHEN ONE FAILS
MACON, Ga., Nov. Eight small Georgia banks were closed today as result of the failure Monday of the Fourth National bank of Macon. with listed resources of more than With the exception of the Citizens' bank of Fort Valley. capitalized at $100,000. the other institutions. the Bank of Byronville, Irwinton bank, Bank of Preston, Citizens Bank company of Culloden, Bank of Bradley, Farmers and Merchants' Bank of Gordon, and Farmers' Bank of Byron capitalized at from $15,000 to $25,000. The institutions were closed after heavy runs Tuesday due to the financial scare that followed closIng of the Macon bank All the banks located the Georgia peach belt. Exact cause of the run was con. cealed, although financial circles said recent investments had turned out, poorly.
EIGHT BANKS IN FLU EPIDEMIC GEORGIA CLOSE HITS FILM FOLK
HEAVY MACON HOUSE CAUSED CLOSING OF THE OTHERS
MACON. Ga., Nov The affairs of eight Georgia banks were in the hands of the state banking department today as sequel to the closing of the Fourth National bank of Macon Monday. The Macon bank was their federal reserve agent. In each case officers assured depositors of protection and announced that reorganization and reopening would be effected as soon as possible. brought about by "financial scare" over the of the Fourth National. were blamed in every instance. Meanwhile, the directorate of the Fourth National was busy arranging conferences looking toward organization and capitalization instead of $500,000 as present. While officers of the Fourth National yesterday were issuing statement which said two hour run Monday was due "baseless rumors" connected with the collapse of negotiations for sale of the institution to Atlanta financiers, the city was passing resolution of confidence in its officers and directorate
HOLLYWOOD. Cal., Nov. 28.-(P) -Thirteen motion picture stars and two directors were confined to their beds today with attacks of influenza. What was described as "mild epidemic" struck the film colony Sunday when Clara Bow and John Gilbert, screen actors were brought down with the disease. Others under physicians' care include Lois Wilson, Monte Blue, Mr. and Mrs. Richard Barthelmess, Mary Philbin, Loretta Young. Sally Phipps, Jean Arthur. Ruth Taylor, William Haines and Buster Keaton, actors, and W. Murnau and Edward In the Metropolitan district of Los Angeles 502 new cases of influenza were reported yesterday, bringing the total for the month to 2,163 cases. Deaths total 41. In San Diego, Dr. E. Lessem, city and county health officer. announced he would issue an order tolay closing the city schools for an indefinite period beginning December because of the prevailence of influenza among the students.
BARRETT NAMED BANKS CLOSE
Interstate Transit Awards Runs Follow Shutdown of
Post to Taxi Expert
Barrett until recently vice manager the De Luxe Cab Co., has been apthe InterCincinnati, general passenger public relations director of the company. Barrett will be in charge of the Cincinnati and Covington offices. Before the De Luxe last was general the Zumstein TaxiInterstate Transit. Inc.. operates buses between Cincinnati PittsChicago, St. Louis and Louisville.
Larger Institution
By United Press. Nov. 28.-Eight small Georgia banks closed today result of failure Monday of the Fourth National Bank of Macon. with listed resources of than $11,000,000 of the Citizens Bank Valley $100,000. the other institutions were The closed after heavy runs due the financial that followed closof the Macon All are the peach Plans were under way today adjust affairs so creditors could cared
18.November 29, 1928The Daily WorkerChicago, IL
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Run on Georgia Bank Closes
MACON, Ga., Nov. the largest banks in Georgia, the Fourth National of Macon, closed today after which also closed subsidiary bank at Bryson,
Ellis D. Robb, national bank aminer, refused to comment on the cause of the closing. For two hours yesterday than 2,000 depositors crowded into the lobby of the bank, withdrawing their deposits until the iron gratings were pushed down.
19.November 29, 1928The Valdosta Daily TimesValdosta, GA
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THE DANGER OF FALSE RUMORS The failure of seven middle Georgia banks to open for business following the closing of the Fourth National Bank of Macon has caused widespread apprehension on the part of depositors and is just another evidence of what rumors will do. The closing of the Fourth National was made necessary because of a rumor A run followed and the bank found it impossible to conserve its assets without shutting its doors. As soon as this happened depositors in all the surrounding section were struck with sudden fear and their various banks closed for safety's sake. Those which closed include the Bank of Byromville, capitalized at $15,000; Bank of Bradley, capitalized at $15,000; Bank of Preston, capitalized at $15,000; Farmers and Merchants Bank at Gordon, capitalized at $25,000; Citizens Bank at Fort Valley, capitalized at $100,000. According to C. E. Martin, president of the Fort Valley bank; the directors voted to close following heavy withdrawals on Monday. Mr. Martin also declared the bank was solvent and the institution was closed only to preserve its assets. The bank was founded in 1909 and had approximately $330,000 on deposits. In the last financial statement of the bank the institution's undivided profits were given at $80,000. All of the other banks were considered in good condition before the closings and as an evidence of the veracity of that belief. the presidents declare that they will all be ready to re-open within a short time. Each one of the closings was attributed to runs induced by the news of the closing of the Fourth National Bank at Macon and the others in succession. The Fourth National was the approved reserve agent for the other banks and officials are certain that as soon as the affairs of the Macon institution are readjusted all the banks will be open and in good condition. With the auditors at work, the directors of the Fourth National are holding conferences with view to working out plans to rclieve the situation for the creditors of the institution. One of the plans being discussed has to do with the organization of a new bank to take over the affairs of the Fourth National and start out anew. This new bank, should it be organized, would have capital stock of $750,000. It has been shown that the whole affair was brought about through a baseless rumor. Such rumors are hard to suppress once started for there is no rumor quite so interesting to a depositor as the alleged condition of his bank. The closings tend to cast an inaccurate reflection upon the financial situation in Georgia to people in other states. The majority of the people who learn of the closings will probably only read a small part of the news and will form a false conclusion as to the reported state of affairs. The whole trouble starts with the original rumor. In hundreds of cases such rumors of a bank's condition are untrue and some depositors might avert many unfortunate circumstances if they could learn enough about the banking business to keep their heads and work to prevent runs.
20.November 30, 1928The Macon TelegraphMacon, GA
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THOUSANDS ENJOY BANK'S RECEIVER TURKEY DAY MENU ASSUMES CHARGE
Summer Weather Brings Crowds Claude Gilbert Takes Over Out For Events Fourth National Situation
CONTESTS ARE NUMEROUS ANOTHER MEETING HELD
The warmth of summer descended Macon yesterday, Thanksgiving day, and brought thousands out of doors for church services in the morning and for recreation of one sort or another throughout the day. the Macon Mulberry Street those Tattnall Square met Centenary Methodist and St. Paul's, St. James and St. Joseph's held own during the Vineville gathered at the Vineville Baptist church for worship. occupied the attention of throngs. There players on the golf links, at Idle Hour and the Municipal Golf course, while Wesleyan claimed crowds for the basketball contests of the morning and the Central City park attracted for events there. The High football game also well patronized.
Theaters Have Many Theaters, too, did capacity busispecial matinee the Grand. the Mansfield playtheir best performances for crowded again at night, In was played to audience. Moving had holiday crowds. Those who were not at one of the athletic fields theater taking advantage of the good weathride in their automobiles. Short trips into the surfamilies were for day throughout south and Georgia. shopping district closed its doors at banks well as government buildings closed throughout the Miller field was another assembled during the watched ride or excursions the city. Durward Ledbetter, Douglas Davis and Joe Farmer had charge the program and gave an exhibition of flying.
Claude Gilbert, receiver for the Fourth National bank, appointed by the comptroller, arrived here yesterday and took charge of the affairs of that Mr. Gilbert auditors still at under the of Clyde J. Evans, of them being engaged in their during the holiday. The work of checking the affairs of the Fourth National had not pleted, was said, possibly more required. is Directors of the National held only one yesterday, but that they were making progress in solving the problems arising the the was cated. No made at the the conference. Other meetings of the directors slated for today, it was ascertained. Park Is Here Orville A. Park, from the state banking department, special counsel for litigation, here Thanksgiving He change in with the closing institutions, the closing the Fourth National He said looked for re-opening all these small banks in pecullar situation was the Bank of Preston, one of the state banks that closed. This bank had no obligations, stated. having clear bills and than which was the Fourth National its fund. The closing the Fourth National deprived the little bank of its funds and hence it was necessary close.
21.December 4, 1928The Macon TelegraphMacon, GA
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Georgia Editors Say
DANGER OF FALSE The failure of Middle Georgia open business following closing of the Fourth National Bank of Macon has caused widespread apprehension the part of depositors and just another of what will closing of the Fourth Namors do. tional necessary because of rumor. followed the bank found impossible to assets without shutting its doors. As soon this happened depositors all the surrounding section struck with sudden fear and their various banks closed for safety's Those which closed include the Bank Byromville, capitalized $15,000; Bank Bradley, capitalized $15,000; Bank Preston, capitalized at $15,000; Farmers Merchants Bank of Gordon, capitalized at Citizens Bank Fort Acthe Fort cording Valley the voted Monday. Mr. Martin ing the bank solvent and the was only The bank had the last financial the bank the profits All the other good condition closing and of the presidents declare that they will all re-open within short closings was tributed by the news the closing the Fourth Bank at Macon succession. National the approved agent for other banks and officials are certain the affairs the Macon readjusted all the banks will open good With work, the directors of the National are holding working out plans relieve situation for the the plans being has the ganization bank take over the Fourth National and start This new bank, should organized, would capital stock $750,000. has been shown that the whole affair was brought about through baseless rumor. Such rumors hard suppress once started for there rumor quite interesting positor alleged his bank. The closings reflection upon the financial situation Georgia people other the learn the closings small the will form to the reported state whole starts the original rumor. cases such rumors of some depositors might they about the banking their heads and work to prevent Times
HIGHWAY BUILDING
Next on the program, matter of course. must be the and means "coming going". Every those days back sandy were the dry days, swollen the the passing the sured, and the lizzie" hailed means being able fifteen miles per hour, including balking cranking up. have seriously in our minds that duty pleasure, boost for roads. and season our voice has been raised for them. Progress though us desire, has outdistanced the accomyet great been the change, the everlasting pleading, and argument acknowledged be necessity the an found accomplish become obsolete. Real roads being temporary construction scorned. The narrow broad And considered speed of dozen years Several organizations polled represenour adherents but they putting thorns our roses. peeved. help highway, refund bond first give We don't any promises, are tired second the first Oh, stand not big don't far big do, gas tax the Fords and far the fellow We objection and contact. Let's play the you. Charlton County Herald.
22.July 12, 1929The Macon TelegraphMacon, GA
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DIVIDEND CLAIMS PROVE NUMEROUS
Many Depositors Apply for Money at Fourth National Bank
There was quite an active demand for the 15 per cent dividend. just announced, at the Fourth National bank," yesterday Receiver Herbert Pearson has reduced the force of employes operating under the receivership to minimum, but in. stead of having one clerk to wait on customers yesterday, as he announced. he placed two clerks at the windows. In that way congestion was relieved. There were not more than dozen or so persons in line at time. yesterday morning. The bank re-opened at 3 o'clock, yesterday afternoon, and continued open until o'clock, but there were
23.October 13, 1929The Macon NewsMacon, GA
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Another Dividend May Be Declared By Bank Receiver
Quarterly Report Made: Future Collection May Mean Dividend This Year
The possibility of another divident of ten per cent being paid this year, by the receiver of the defunct Fourth National bank was indicated from the quarterly report made by the receiver of the bank Saturday although no confirmation of such a possibility was made by him. Herbert Pearson, receiver. said that more collections would be necessary before a dividend would be available, however, those famillar with the conditions of middle Georgia were of the opinion that the best collection period extended between now and the Christmas holidays and the dividend. if paid, would in all probability fall at that time. The statement of transactions Issued by the receiver for the quarter ending September 30 shows total bank assets of $10 with assets still uncollected of In the liabilities column the total is $6,783,372.99, on which $4.295, 818.98 already has been paid in dividends Cash on hand is listed as fol-
24.September 24, 1931The Macon NewsMacon, GA
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BANK IS DUE FRIDAY
Defunct Fourth National to Make Five Per Cent Payment to Depositors
Payment of five per cent divi. dend depositors defunct Fourth will begin in old the of Cherry and Third has been M Dudley The amount to be distributed totals stated When this money paid the depositors will have received 80 cent of their deposits the time the closed in 1928 The old bank quarters are being reopened for the distribution of money limited office the office in the First National bank explained All depositors will be quired to present their receiver's certificates show proof claim. The in the old buildwill for ing which as ample for depositors their funds town have mailed notification of the dividend
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
