Bank of Atlantic (Atlantic, IA)

Episode Information

Episode UID
8408913191117
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
840891319 hash
Start Date
January 1, 1893*
Location
Atlantic, Iowa (41.404, -95.014)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
670d95044ab61f34

Response Measures

None

Description

Date range in articles is OCR'd as 189396 (financial stress of 1893–96); exact failure year unclear.

Events (2)
1. January 1, 1893* Receivership
Newspaper Excerpt
the Bank of Atlantic ... went into the hands of a receiver
Source
newspapers
2. January 1, 1893* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Speculation and collapse of owner Franklin H. Whitney's business during financial stress (1893–96) led to bankruptcy and suspension
Newspaper Excerpt
the Bank of Atlantic, which he owned, went into the hands of a receiver
Source
newspapers

Newspaper Articles (4)
1. May 17, 1906 The Elbert County Tribune Elbert, CO
Article from The Elbert County Tribune, May 17, 1906

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Article Text

VINDICATES SIRE'S NAME. Last of Banker's $700,000 Debts Paid Off in Ten Years by Loyal Son. Des Moines, Ia.-In vindication of his father's name James G. Whitney, of Atlantic, completed liquidating an indebtedness of $700,000. His had been a labor of love extending over a period of ten years. During the financial stress of 189396 his father, Franklin H. Whitney, became a bankrupt and died, and the Bank of Atlantic, which he owned, went into the hands of a receiver and the $700,000 which has just been repaid to the creditors was realized by his good management of the wrecked estate. Franklin H. Whitney was the founder of the city of Atlantic. He laid out the town site and established the National Bank of Atlantic, which he subsequently converted into a private institution. He became a millionaire. Eventually he speculated too heavily in Kansas City and Birmingham (Ala.) real estate and his bosiness collapsed. The shock killed him. It was not believed his estate would pay 50 cents on the dollar, but his son took a solemn vow to see that no creditor lost a cent, and he has kept his word to the letter.

2. May 17, 1906 Gilpin Observer Central City, CO
Article from Gilpin Observer, May 17, 1906

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Article Text

VINDICATES SIRE'S NAME. Last of Banker's $700,000 Debts Paid Off in Ten Years by Loyal Son. Des Moines, Ia.-In vindication of his father's name James G. Whitney, of Atlantic, completed liquidating an indebtedness of $700,000. His had been a labor of love extending over a period of ten years. During the financial stress of 189396 his father, Franklin H. Whitney, became a bankrupt and died, and the Bank of Atlantic, which he owned, went into the hands of a receiver and the $700,000 which has just been repaid to the creditors was realized by his good management of the wrecked estate. Franklin H. Whitney was the founder of the city of Atlantic. He laid out the town site and established the National Bank of Atlantic, which he subsequently converted into a private institution. He became a millionaire. Eventually he speculated too heavily in Kansas City and Birmingham (Ala.) real estate and his bosiness collapsed. The shock killed him. It was not believed his estate would pay 50 cents on the dollar, but his son took a solemn VOW to see that no creditor lost a cent, and he has kept his word to the letter.

3. May 18, 1906 The Ordway New Era Ordway, CO
Article from The Ordway New Era, May 18, 1906

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Article Text

VINDICATES SIRE'S NAME. Last of Banker's $700,000 Debts Paid Off in Ten Years by Loyal Son. Des Moines, Ia.-In vindication of his father's name James G. Whitney, of Atlantic, completed liquidating an indebtedness of $700,000. His had been a labor of love extending over a period of ten years. During the financial stress of 189396 his father, Franklin H. Whitney, became a bankrupt and died, and the Bank of Atlantic, which he owned, went into the hands of a receiver and the $700,000 which has just been repaid to the creditors was realized by his good management of the wrecked estate. Franklin H. Whitney was the founder of the city of Atlantic. He laid out the town site and established the National Bank of Atlantic, which he subsequently converted into a private institution. He became a millionaire. Eventually he speculated too heavily in Kansas City and Birmingham (Ala.) real estate and his bosiness collapsed. The shock killed him. It was not believed his estate would pay 50 cents on the dollar, but his son took a solemn vow to see that no creditor lost a cent, and he has kept his word to the letter.

4. May 18, 1906 Rocky Ford Enterprise Rocky Ford, CO
Article from Rocky Ford Enterprise, May 18, 1906

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Article Text

VINDICATES SIRE'S NAME. Last of Banker's $700,000 Debts Paid Off in Ten Years by Loyal Son. Des Moines, Ia.-In vindication of his father's name James G. Whitney, of Atlantic, completed liquidating an indebtedness of $700,000. His had been a labor of love extending over a period of ten years. During the financial stress of 189396 his father, Franklin H. Whitney, became a bankrupt and died, and the Bank of Atlantic, which he owned, went into the hands of a receiver and the $700,000 which has just been repaid to the creditors was realized by his good management of the wrecked estate. Franklin H. Whitney was the founder of the city of Atlantic. He laid out the town site and established the National Bank of Atlantic, which he subsequently converted into a private institution. He became a millionaire. Eventually he speculated too heavily in Kansas City and Birmingham (Ala.) real estate and his business collapsed. The shock killed him. It was not believed his estate would pay 50 cents on the dollar, but his son took a solemn vow to see that no creditor lost a cent, and he has kept his word to the letter.