gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
04131e7bb813dd6a
Response Measures
None
Description
Later (1930) court record refers to the bank as having failed in 1928, supporting permanent closure.
Events (3)
1.November 27, 1928Receivership
Newspaper Excerpt
turned the bank over to the State Banking Department to conserve the assets; affairs in hands of the state banking department behind closed doors later reported statewide news articles said receivers/examiners reviewed affairs soon after the closing and reorganization was discussed in press accounts and later court records reference the bank's failure in 1928 suggesting permanent closure and assignment of receivership records in subsequent coverage and court case (1930).
Source
newspapers
2.November 27, 1928Run
Cause
Local Banks
Cause Details
Depositors withdrew funds after the Nov. failure/closing of the Fourth National Bank of Macon, the Federal Reserve agent for the region.
Measures
Directors decided to conserve assets and turn the bank over to the State Banking Department.
Newspaper Excerpt
Heavy withdrawals followed the closing of the Fourth National Bank of Macon
Source
newspapers
3.November 27, 1928Suspension
Cause
Local Banks
Cause Details
Bank did not open for business and was turned over to the State Banking Department after heavy withdrawals tied to the Macon failure.
Newspaper Excerpt
Announcement... Citizens Bank in Fort Valley, GA. has closed doors
Source
newspapers
Newspaper Articles (11)
1.November 27, 1928The Daily AdvertiserLafayette, LA
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Article Text
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.
2.November 27, 1928The Macon NewsMacon, GA
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Article Text
Valley Bank Closes Doors to Preserve Assets
Heavy Withdrawals Follow News of Closing of Fourth National in Macon
FT. VALLEY. Ga.. Nov. 27. Unusually heavy withdrawal of cash attributed to the closing Monday of the Fourth National bank at Macon resulted Tuesday the pension business by the Citizens bank of Fort Valley here, with deposits Explaining the bank's failure open for business Tuesday mornPresident Edwin Martin said the directors meeting Monday night and Tuesday had considered the situation brought about by steady withdrawals Mondav after word the Fourth National closing had been received and had decided that for purpose of conserving its assets should turned over to the State Banking department. said the bank solvent and that hoped some could be made soon with depositors any losses. The Citizens bank capitalized at $100,000 and had surplus and undivided profits $80,000. Mr. Martin said. The president added that there excitement incident to the withdrawals Monday Other ficers are Davidson and Louis Brown. vice presidents. and Ben cashier. The only other bank Fort Valley the Bank of Fort Valley.
3.November 27, 1928The Macon NewsMacon, GA
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Article Text
George Slappey in Argument
FORT VALLEY Nov. George Slappey. business man Fort Valley with estate holdings here and in Macon, fined home with knife wounds an altercation downtown street at noon said have resulted argument the closing of the Citizens W S. White of mayor Fort Valley. described as the wielder the knife There number witnesses. No been preferred against the mayor mutual friends describe the cutting "friendly Neither interested the management of the closed bank. and the gument had do policies in depositing cash.
4.November 28, 1928The Oregon Daily JournalPortland, OR
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Article Text
Eight Banks Of Georgia Close; Concealed
Macon. Ga., Nov. Hearts of Celery Georgia banks were closed today the Fourth result of the failure Monday National bank of with listed resources of more than bank With the exception of the Citizens Fort Valley, $100,000, the other institutions, capitalized the Bank Bank of Byronville, Irwinton bank, Preston, Citizens Bank pany Farmers' of Culloden, Bank of Bradley, comand Merchants' bank of and Farmers' bank of Byron
5.November 28, 1928The Bismarck TribuneBismarck, Mandan, ND
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Article Text
GEORGIA BANK CHAIN CLOSES AFTER CRASH State Banking Department Examines Affairs of Eight Institutions Macon, Ga., Nov. 28.-(AP)-The affairs of eight middle Georgia banks were in the hands of the state banking department behind closed doors 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 instance. Meanwhile the directorate of the Fourth National was busy arranging conferences looking toward reorganization and recapitalization at $750,000 instead of $500,000, as at present. The largest of the eight institutions closing yesterday was the Citizens Bank of Fort Valley, capitalized at $100,000. The others had capital listed between $15,000 and $25,000. Macon and Fort Valley are among the larger shipping centers in Georgia's extensive peach-growing section. While officers of the Fourth National 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. The resolution urged all citizens to adopt an attitude of confidence and cooperation. An altercation over the closing of the Fort Valley bank yesterday was responsible for knife wounds which today confined George Slappey, a business man of that city, to his bed. Dr. W. S. White, mayor of Fort Valley, was the other participant, several witnesses said. No charges have been placed against the mayor. The encounter was said to have been preceded by a "friendly argument" over policies of the city in depositing municipal funds. Neither was interested in the management of the bank.
6.November 28, 1928The Brooklyn Daily TimesBrooklyn, NY
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Article Text
EIGHT MORE BANKS CLOSE IN GEORGIA
Failures in Peach Belt Due to Collapse Yesterday of $11,000,000 Institution.
Macon. Ga., Nov. 28.-Eight small Georgia banks closed today as the failure Monday of the Fourth National Bank of Macon, with listed resources of more than With the of the Citizens Bank of Fort Valley capitalized at the other institutions, the Bank of Byronville, Irwinton Bank, Bank of Preston, Citizens Bank Company of Culloden, Bank of Bradley Farmers Merchants Bank of Gordon, and Farmers Bank of Byron were capitalized at from to The institutions closed after heavy runs Tuesday due to the financial scare that followed closing of the Macon All he banks located in the Georgia peach With Clyde J. Edwards in charge of an audit, and Claude Gilbert. named receiver the Fourth National here. plans today to adjust affairs so creditors could be cared for. Exact cause of the run was con. although financial circles said investments had turned out poorly.
The Brooklyn Times will be published tomorrow, Thanksgiving Day.
7.November 28, 1928The Brooklyn Daily TimesBrooklyn, NY
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Article Text
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.
8.November 28, 1928The Times-NewsTwin Falls, ID
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Article Text
MACON, GEORGIA. BANKS COLLAPSE rescue Eight Institutions Fall When He Run Starts on Them After Breaking of $11,000,000 Bank the
MACON, Ga., Nov. 28 Eight small Georgia banks were closed today as result of the failure Monday of the Fourth Notional Bank of Macon, with listed resources of more than $11,000.000
With the exception of the Citizens Bank of Fort Vallev, espitalized at $100,000. the other stitutions, the Bank of Byronville. Irwinton Bank, Bank of Preston, Citizens Bank Company of Culloden, Bank of Bradley, and Merchants Bank of Gordon. Bank Byron were capitalized at from $15,000 to $25,000. The institutions were c'osed afheavy runs Tuesday due to the financial scare that followed closing of the Macon bank. All the banks are located in the Georgia peach belt. Exact cause of the run was concealed. although financial circles said recent investments had turned out poorly.
9.November 29, 1928Evening StarWashington, DC
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Article Text
GEORGIA UNRAVELS BANKS' SUSPENSION Affairs of Eight Institutions in Hands of State-Reopening Is Forecast. By the Associated Press. MACON, Ga., November 29.-The affairs of eight middle Georgia banks were in the hands of the State Banking Department behind closed doors yesterday 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 baout by a "financial scare" over the condition of the Fourth National were blamed in every instance. 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. Claude Gilbert of the Insolvency Division of the United States Treasury Department has been designated as receiver by the controller of the currency. Auditors working under Ellis D. Robb, chief national bank examiner of the Sixth Federal Reserve District, continued their survey of the bank's books. In Peach Crop Area. The largest of the eight institutions closing yesterday was the Citizens' Bank of Fort Valley, capitalized at $100.000. The others had capital listed between $15,000 and $25,000. Macon and Fort Valley are among the larger shipping centers in Georgia's extensive peach growing section. While officers of the Fourth National 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. The resolution urged all citizens to adopt an attitude of confidence and co-operation. Besides the Fort Valley Bank. the other institutions which are closed are the Irwinton Bank. Irwinton: Bank of Byronville: Bank of Bradley: Farmers' and Merchants' Bank of Gordon: Citizens' Bank of Culloden: Bank of Preston, and Farmers' Bank of Byron. Business Man Cut. An altercation over the closing of the Fort Valley Bank yesterday was responsible for knife wounds which today confined George Slappey, business man of that city, to his bed. Dr. W. S. White, mayor of Fort Valley. was the other participant. several witnesses said. No charges have been placed against the mayor. The encounter was said to have been preceded by a "friendly argument" over policies of the city in depositing municipal funds. Neither was interested in the management of the bank.
10.November 30, 1928The NewsPaterson, NJ
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Article Text
EIGHT MORE BANKS CLOSED IN GEORGIA
Shut-Down of Fourth Nation-
Merchants Bank of Gordon, the Bank of Culloden and Bank of Preston The State bank examiner will charge once and every effort will be made to reorganize and reopen the banks as soon as possible. What caused the run on the Macon not known. One reports lays to rumors regarding the dropping egotiations for the sale Fourth National to syndicate of Atlanta The Citizens Bank of Fort Valley is declared by its officers to be vent and the suspension to desire to conserve assets. President Edwin Martin said had capital of $100,000 and and surplus undivided profits of There was run the bank fol. lowing news of the run in the Fourth The Byron bank had capital stock
11.July 19, 1930The Macon NewsMacon, GA
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Article Text
PEACH COUNTY BANK CASE DECIDED
Supreme Court Upholds Decision on Seizure of Davidson Deposit
ATLANTA July 19. holder of an insolvent bank cannot set off his individual deposits against his legal responsibility to other depositors. the Georgia Supreme court ruled Saturday affirming decision of the Peach Superior court When the Citizens' bank of Fort Valley failed in 1928, each stockholder 100 per cent to pay depositors. E. Davidson owned 20 shares of capital stock and had more than 000 on deposit in the bank. The state issued an execution on the $2,000 and used the money to help pay deDavidson contended the state ob. tained the money under duress and sued for its return. The Peach court held the execution was legal and was Incidentally Davidson had his other deposits in the Fourth National bank at Macon. closed its doors the day before the Fort Valley bank The conviction of Marshall Phillips of Laurens for the murder of Leo Blackshear was upheld Phillips was sentenced to life last January and appealed The decision of the Coffee superior court, which found John Henderson guilty of the murder of Robert Mc Queen last year. also was affirmed Henderson was sentenced to life im-
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