9704. Bank of Greenville (Greenville, MS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 23, 1891
Location
Greenville, Mississippi (33.410, -91.062)

Metadata

Model
gpt-5-mini
Short Digest
d5074be0b12ab02a

Response Measures

None

Description

Contemporary telegraphed reports (Dec 23, 1891) state the Bank of Greenville posted a notice 'Closed by order of the chancery court... Bank in the hands of a receiver.' President Pollock appointed receiver. Causes cited repeatedly: successive overflows/short crops and low cotton prices (local agricultural shock). No article describes a depositor run; the bank was placed in receivership and appears to have closed.

Events (2)
1. December 23, 1891 Receivership
Newspaper Excerpt
The bank is in the hands of a receiver. President Pollock was appointed receiver.
Source
newspapers
2. December 23, 1891 Suspension
Cause
Local Shock
Cause Details
Successive overflows causing short crops and the low price of cotton are repeatedly cited as the cause of the suspension.
Newspaper Excerpt
Closed by order of the chancery court of Washington county. The bank is in the hands of a receiver.
Source
newspapers

Newspaper Articles (16)
1. December 23, 1891 San Antonio Daily Light San Antonio, TX
Article from San Antonio Daily Light, December 23, 1891

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LATE TELEGRAMS. BOILED DOWN FROM PRIVATE, SPECIAL AND OTHER SOURCES. There ale no new developments in the Chili affair. Enos H. Nebeger of Ind., confirmed United States treasurer. Mills was worse last night than. at any time during his illness. Prosecution rests case in the GravesBarnard case and defense opens. The rich merchants of St. Petersburg subscribe nothing for relief. Senator Plumb's remains remain in state at Topeka today until 2 p. in. Billy Meyer knocks out Jimmy Carrol in 43 rounds at New Orleans. Topeka is crowded with state politicians clamoring for Plumb's place. Two electric power employes killed at New Albany, Ind,. by a live wire. Outlawry is mercilessly repressed in Russia to prevent it becoming general. The Kansas senate is assembled to do duty at Plumb's funeral in Topeka. Steamer Cavalier is believed to have been wrecked on Sicily islands, and all lost. Revenue deficiency in province of Veronezh, Russia, will reach 5,000,000 roubles. Cyclone rages around Central Iowa unroofing houses, barns and other buildings. Russia reports an enormous falling off in revenue in the famine stricken provinces. Bank of Greenville, Miss., suspends. Liabilities $1,000,000; creditors aresaid to be safe. Classen and Simmone, who wrecked the 6th national bank, N. Y., get 6 years each. Another attempt was made Saturday to arrest Minister Egan's son in Valparaiso. Regimental officers forego all banquets and give equivalent to the starring masses. Jerome I. Case, owner of Jay I. See, horse man and manufacturer is dead at Racine, Wis. San Diego receives a car load of American tin, 26,000 pounds, from Temecula mines. Steamer West Coast capsized at Point Arena, Cal., and 9 drowned. Vessel a total loss. Dan Bates receives $1,000 on the do or die dodge at Vinton, Ia., but is arrested at the depot. Chinese commissioner comes to investigate the question of Chinese World's fair exhibit Superintendent Sullivan, Frankfort, Ky. penitentiary, disappears. with a grip in his hand. Nicholas Fox, jealous, shoots his wife at Omaha and cuts his throat. She will live, he will die. Passport and labor laws, with other restrictions are abolished in Russia to enable the poor to remove. Governor Humphrey indignantly denies his intention of resigning to be appointed Plumb's successor. Experts swear to Graves' handwriting on the fatal bottle of whisky which figures in the Denver trial. Another crank visits Russell Sage's house and is pushed through the door by Mrs. Sage before he can get in his work. Sullivan will fight Slavin for $10,000 & side before the club offering the biggest purse inside of 15 weeks,$2,500 forfeit. Severe wind, rain and hail visits central Iowa, floods Des Moines and blows down some buildings in Maishaltown. Ohio proposes to secure through the American press general relief from all over this country for Russia's starving millions. Rev. Father Kroeger, of St. Vincent's cathedral, Elkhart, Ind., disappears, owing $17,000, more,than se cured by valuable papers. Judge Hartford, Seattle, Wash., decides that Chinese merchants from U. S., visiting Victoria, B. C., may return and not liable to arrest. Memphis, St. Louis and Augusta show cotton receipts slightly in ex-

2. December 23, 1891 Asheville Daily Citizen Asheville, NC
Article from Asheville Daily Citizen, December 23, 1891

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BANK FAILURE. A Bad Blow to Washington Coun. ty, Mississippi. VICKSBURG, Miss., Dec. 23.-The bank of Greenville, at Greenville, Miss., has suspended. The first intimation of the suspension was the following notice posted on the door of the bank-"Closed by order of the chancer court of Wash ington county. The bank is in the hands of a receiver. The chock of this intelligence was so great that when it reached the circuit court the attendant council told the presiding judge that this failure was such a calamity that no one present was in any condition to transact business, and the court adjourned at once. It is feared that this is but the pre cursor of other financial misfortunes, all the result of the depression in cotton. The liabilities are stated to be $500,000; assets more than that amount,comprising, among others, $150,000 in first mortgages on Washington county securities to the amount of $150,000. The failure is due to the successive overflows, entailing short crops, and to the low price of cotton. The bank has been the financial bulwark of the entire county, being the wealthiest in this state.

3. December 23, 1891 Evening Star Washington, DC
Article from Evening Star, December 23, 1891

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Suspension of a Mississippi Bank. VICKSBURG, MISS., Dec. 23.-The bank of Greenville, Miss., suspended yesterday afternoon. United States Senator White of Louisiana, representing the Whitney National Bank of New Orleans and other creditors, was in Greenville yesterday. President Pollock has been appointed receiver. The liabilities are stated at $1,000,000. The assets are fully equal to that amount.

4. December 24, 1891 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, December 24, 1891

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FAILURES. VICKSBURG, Miss., Dec. 23.-The bank of Greenville, at Greenville, Miss., suspended yesterday, and its own president, Mr. Pollack, was appointed receiver. The liabilities are $1,000,000, with assets about the same, consisting of $750,000 in first mort gages on Washington county real estate, $150,000 in county securities, and $100,000 in other securities equally as good. The failure is due to successive overflows runing the crops, and the low price of cotton. The bank was one of the wealthiest in the state. The other banks at Greenville believe that the failed bank's creditors are

5. December 24, 1891 The Morning News Savannah, GA
Article from The Morning News, December 24, 1891

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A GREENVILLE BANK FAILS. Its Doors shut Just After the Close of the Day's Business. VICKSBURG, MISS., Dec. 23.-The Bank of Greenville at Greenville, Miss., suspended yesterday afternoon at 2 o'clock. The first intimation of the suspension was the following notice posted on the door of the bank: "Closed by order of the chancery court of Washington county. The bank is in the hands of a receiver." The shock of this intelligence was great. When it reached the circuit court, then in session, the attendant counsel told the presiding judge that this failure was such a calamity that no one present was in any condition to transact business and the court adjourned at once. It is feared that this is but the precursor of other misfortunes, all the result of the depression in cotton. United States Senator White, representing the Whitney National Bank of New Orleans, and other creditors were in Greenville yesterday. President Pollock wasappointed receiver. The liabilities are stated at $500,000. The assets are more than that amount, comprising among others $750,000 in first mortgages on Washington county real estate and county securities to the amount of $150,000. CAUSE OF THE FAILURE. The failure is due to the successive overflows, entailing short crops and to the low price of cotton. It is a well-known fact that the bank has been the financial bulwark of the entire county, the wealthiest in this state, for years. The utmost sympathy is expressed for President Pollock, whose ability and integrity are distinguished. The banks of this city express a belief based on personal knowledge, that the creditors will be paid in full. Nevertheless the blow is a heavy one, the bank's operations being by no means confined to Washington county. The bank was the first ever established in Greenville. Detailed lists of the creditors have not been received, but the Whitney National Bhnk is understood to be the largest creditor.

6. December 24, 1891 The Roanoke Times Roanoke, VA
Article from The Roanoke Times, December 24, 1891

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HAVE A RED LEAD PENCIL? A DISASTROUS BANK FAILURE. I The Bank of Greenville Closes its Doors With $500,000 Liabilities. VICKSBURG, Miss., Dec. 23.-[Special] -The Bank of Greenville, at Greenville, Miss, suspended yesterday at 2 p. m. The first intimation of the suspension was the following notice pasted on the door of the bank: "Closed by order of the chancery court of Washington county." The bank is in the hands of a receiver. The shock of this intelligence was so great that when it reached circuit court then in session, attendent council told the presiding judge that this failure was such a calamity that no one present was in any condition to transact business, and the court adjourned at once. It is feared that this is but the precursor to other misfortunes, all the result of the depression in cotton. United States Senator White, representing the Whitney National Bank of New Orleans, and other creditors were in Greenville yesterday. President Pollock was appointed the receiver. Liabilities are stated at $500,000. The assets are more than the amount, comprising, among others, $750,000 in first mortgages on Washington county real estate and county securities to the amount of $150,000. The failure is due to successive overflows entailing short crops and to the low price of cotton. It is a well-known fact that the bank has been the financial bulwark of the entire country and the wealthiest in the State for years. Utmost sympathy is expressed for President Pollock. whose ability and integrity is distinguished. The banks of this city express the belief, based on personal knowledge, that the creditors will be paid in full. Nevertheless the blow is a heavy one, the bank's operations being by no means confined to Washington county. The bank was the first ever established in Queensville.

7. December 24, 1891 Daily Tobacco Leaf-Chronicle Clarksville, TN
Article from Daily Tobacco Leaf-Chronicle, December 24, 1891

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AFFECTS THE ENTIRE COUNTY. The Bank of Greenville, Miss., Forced to Suspend. VICKSBURG, Miss., Dec. 23.-The bank of Greenville, at Greenville, Miss., suspended Tuesday. The first intimation of the suspension was this notice posted on the door of the bank: "Closed by order of the chancery court of Washington county." The bank is in the hands of a receiver. The shock of this intelligence was great. When it reached the circuit court, then in session, the attendant counsel told the presiding judge that this failure was such a calamity that no one present was in any condition to transact business and court was adjourned at once. It is feared that this is but the precursor of other misfortunes, all the result of the depression in cotton. United States Senator White, representing the Whitney National bank, of New Orleans, and other creditors, were in Greenville Tuesday. President Pollock has been appointed receiver. Liabilities are stated at $500,000. The assets are more than that amount comprising, among others, $750,000 in first mortgages on Washington county real estate and county securities to the amount of $150,000. The failure is due to successive overflows, entailing short crops, and to the low price of cotton. It is a well known fact that the bank has been the financial bulwark of the entire county, the wealthiest in the state, for years. The utmost sympathy is expressed for President Pollock, whose ability and integrity are distinguished. The banks of this city express the belief, based on personal knowledge, that the creditors will be paid in full. Nevertheless the blow is a heavy one, the bank's operations being by no means confined to Washington county. The bank was the first ever established in Greenville. Detailed lists of the creditors have not been received, but the Whitney National bank of New Orleans is understood to be the largest creditor. The Hanoverbank, of New York, is also a creditor.

8. December 24, 1891 Telegram-Herald Grand Rapids, MI
Article from Telegram-Herald, December 24, 1891

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FAILED FOR A BIG SUM. Leading Financial Institution of Mississippl Goes to the Wall. VICKSBURG, Miss, Dec. 23. - The bank of Greenville, at Greenville, Miss., suspended Tuesday afternoon, United States Senator White, of Louisiana, representing the Whitney national bank of New Orleans and other creditors. was in Greenville Tuesday. President Pollock has been appointed receiver. The liabilities are stated at $1,000,000. The assets are fully equal to that amount, comprising $75,000 in first mortgages on Washington county real estate and county securities to the amount of $150,000. besides other securities, a total fully equal to the liabilities. The failure is due to two successive overflows, entailing short crops, and to the low price of cotton. It is a well-known fact that the bank has been the financial bulwark of the entire county. the wealthiest in the section for years. The utmost sympathy is expressed for President Pollock. The banks of this city express the belief, based on personal knowledge, that the creditors will be paid in full. Nevertheless the blow is a heavy one to the Yazoo Mississippi delta, the bank'ooperations being by no means confined to Washington county.

9. December 24, 1891 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, December 24, 1891

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BUSINESS FAILURES. San Francisco Shippers Attached-Talk of Lynching a Cashier. SAN FRANCISCO, Dec. 23.-The first failure caused by the unusual state of the grain market and the drop in shipping charters occurred today, the firm of Lowenthal, Livingston & Co., shipping and commission merchants, being attached for upward of $10,000. This sum, however, is but a small part of the money owed by the firm. The sheriff took possession of the office and some $8,000 or $4,000 on hand in cash. The firm will either make an assignment or go into insolvency. The liabilities are said to be about $220,000, all due to foreign firms. The assets are uncertain. The cause of the trouble, besides the fall in charters. is assigned to the fall in the price of salmon, of which the firm has a large quantity in Europe. ALTOONA. Pa., Dec. 23-The Tyrone bank failure is assuming larger proportions. The liabilities now reach $80,000, with almost positive assurance that not a cent will be paid on the dollar. The stockholders have either disappeared or refuse to be seen, and the people are dumbfounded at the state of affairs. There is even talk of lynching Guyer, the cashier, if he is found One suit has already been brought against the stockholders, and arrests are likely to follow. VICKSBURG, Miss., Dec. 23.-The Bank of Greenville, Miss., has suspended. President Pollock was appointed receiver. The liabilities were $500,000, with assets in excess of this amount.

10. December 24, 1891 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, December 24, 1891

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VICKSBURG, Miss., Dec. 23.-The bank of Greenville, of Greenville, Miss., has suspended. President Pollock has been appointed receiver. Liabilities, $500,000, with assets in excess of this amount.

11. December 24, 1891 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, December 24, 1891

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A FINANCIAL CALAMITY. The Bank of Greenville, Miss., SuspendsIts Great Local Importance. [By telegraph to the Dispatch.) VICESBURG. Miss., December 23.-The Bank of Greenville, at Greenville, Miss., suspended yesterday at 2 P. M. The first intimation of the suspension was the tollowing notice posted on the door of the bank: Closed by order of the Chancery Court of Washington county. Bank in the hands of a receiver." The shock of this intelligence was great. When it reached the Circuit Court, then in session, the attendant counsel told the presiding judge that the failure was such a calamity that no one present was in any condition to transact business. and the court adjourned at once. It is feared that this is but the precursor of other niisfortunes. all the result of the depression in cotton. United States Senator White, representing the Whitney National Bank of New Orleans, and other creditors were in Greenville yesterday. President Pollock was appointed receiver. The liabilities are stated at $500,000. The assets are more than that amount, comprising among others $750,000 in first mortgages on Washington county real CState and county securities to the amount of $150,000. The failure is due to successive overflows, entailing short crops, and to the low price of cotton. It is a well-known fact that the bank had been the financial bulwark of the entire county-the wealthiest in this State for years. The utmost sympathy is expressed for President Pollock. whose ability and integrity are distinguished. The banks of this city express the belief, based on personal knowledge, that the creditors will be paid in full. Nevertheless, the blow is a heavy one, the bank's operations being by no means confined to Washington county. The bank was the first ever established in Greenville. A detailed list of creditors has not been received, but the Whitney National Bank is understood to be the largest creditor.

12. December 24, 1891 The Morning Call San Francisco, CA
Article from The Morning Call, December 24, 1891

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CONDENSED TELEGRAMS. NEW YORK, Dec. 23.-John Chattellon & Sons' scale factory was burned this morning. Loss $115,000; fully insured. KANSAS CITY, Dec. 23.-An ammonia tank in Armour's packing establishment exploded this morning. Four men were killed. TRENTON (N. J.), Dec. 23.-Early this mornIng Cook & Hancock's Crescent Pottery was burned. Loss $100,000, fully insured. VICKSBURG. Dec. 23.-The Bank of Greenville, at Greenville, Miss., has suspended. President Pollock was appointed receiver. Liabilities $500,000, with assets in excess of this amount.

13. December 24, 1891 The Olympia Tribune Olympia, WA
Article from The Olympia Tribune, December 24, 1891

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TELEGRAPHIC TALES. Jules Simon is dying in Paris. The bank of Greenville, Miss., has suspended. Hon. John A. J. Creswell, postmaster general under Grant, is dead. John Challdon & Sons' scale factory in New York, was destroyed by fire. Loss, $115,000. Fully insured. Samuel D. Warncastle, collector of internal revenue for twenty-third district of Pennsylvania, has been removed for neglect of duty. A fire in Sacramento destroyed Baker & Hamilton's agricultural implement warehouse and all the stock. Loss $155,000, partly insured. Two firemen were seriously injured by an explosion. A cargo of dynamite at Antwerp which was being discharged from a lugger to a lighter explodod, shattering one vessel and sinking the other. Twenty men were killed and injured. The steamer City of Pueblo arrived in San Francisco from Tacoma, and reports being struck by heavy sea off Cape Flattery which badly battered the vessel and shifted her cargo. Three men were severely injured, one having his ribs and arm broken.

14. December 26, 1891 Huntsville Gazette Huntsville, AL
Article from Huntsville Gazette, December 26, 1891

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BANK FAILURE. One of Mississippi's Soundest Institutions Broke. The Whole State Is Shocked Over the Event. / The Bank at Greenville Closes Its Doors - Surprise and Sympathy Expressed Throughout the State-Court Adjourns on Account of the Occurrence-A Receiver Appointed. VICKSBURG, Dec. 24.-The Bank of Greenville, Miss., has suspended. The first intimation of suspension was the following notice posted on the door of the bank: "Closed by order of the chancery court of Washington county. Bank in the hands of a receiver." The shock of this intelligence was great. When it reached the circuit court, then in session, attendant counsel told the presiding judge that this failure was such a calamity that no one present was in any condition to transact business, and the court adjourned at once. It is feared that this is but a precursor of other misfortunes, all the result of the depression in cotton. President Pollock was appointed receiver. Liabilities stated at $500,000. The assets are more than that amount. Comprising among others $750,000 in first mortgages on Washington county real estate and county securities to amount of $150,000. It is a well known fact that the bank has been the financial bulwark of the entire county, the wealthiest in this state, for years. The utmost sympathy is expressed for President Pollock, whose ability and integrity is distinguished. The banks of this city express belief, based on personal knowledge, that the creditors will be paid in full. Nevertheless the blow is a heavy one, the bank's operations being by no means confined to Washington.

15. December 31, 1891 The Worthington Advance Worthington, MN
Article from The Worthington Advance, December 31, 1891

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WEST AND SOUTH. IN Iowa the total value of the products for 1891 was $449,897,605. THE firm of Lusk & Co., dealers in canned and dried fruits at San Francisco, Cal., failed for $100,000. THOMAS H. ALLEN & Co., the oldest cotton firm in Memphis, failed for $544,932. ON the Chicago & Alton a special train broke the record between Chicago and Kansas City, making the run of 419 miles in 11½ hours, or at the rate of 45 miles an hour. AN American sailor named Patrick Sheald, who arrived at San Diego, Cal., from Valparaiso, said he was recently arrested by Chilian police without cause and beaten into insensibility. MASKED men entered the jail at DeWitt, Ark., and shot to death J. A. Smith, Floyd Gregory and Mose Henderson. Smith hired Henderson to shoot his divorced wife. AT Waynesborc, Warrenton and Newmarket, Va., private banks closed their doors. A TORNADO at Marshalltown, la, destroyed many barns, uprooted trees and wrecked several houses. The storm traveled in streaks, leveling stalk fields as if by roller. The doors of the bank of Greenville at Greenville, Miss., were closed, with liabilities of $1,000,000. IN Isaac Havens' family near Decr Creek, Ia., five children died from black diphtheria, and the only other child and the father and mother were not expected to live. FIRE ruined the oilcake department of the Union mills in Detroit, Mich. Loss, $150,000. THE steamer West Coast was hauling alongside the wharf at Point Arena, Cal., when her moorings parted, she was driven on a reef and nine of the crew were drowned. AT Peru, Ind., John Mongoza, chief of the Miami tribe of Indians, died suddenly in a saloon. FANNY THOMAS, a colored woman who lived near Portland, Ind., died at the age of 103 years. FRANK Vandewalker completed his fortieth quail in as many days at Ann Arbor. Mich.

16. December 31, 1891 Warren Sheaf Warren, MN
Article from Warren Sheaf, December 31, 1891

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WEST AND SOUTH. IN Iowa the total value of the products for 1891 was $449,897,605. THE firm of Lusk & Co., dealers in canned and dried fruits at San Francisco, Cal., failed for $100,000. THOMAS H. ALLEN & Co., the oldest cotton firm in Memphis, failed for $544,932. ON the Chicago & Alton a special train broke the record between Chicago and Kansas City, making the run of 419 miles in 11½ hours, or at the rate of 45 miles an hour. AN American sailor named Patrick Sheald, who arrived at San Diego, Cal., from Valparaiso, said he was recently arrested by Chilian police without cause and heaten into insensibility. MASKED men entered the jail at DeWitt, Ark., and shot to death J. A. Smith, Floyd Gregory and Mose Henderson. Smith hired Henderson to shoot his divorced wife. AT Waynesboro, Warrenton and Newmarket, Va., private banks closed their doors. A TORNADO at Marshalltown, la., destroyed many barns, uprooted trees and wrecked several houses. The storm traveled in streaks, leveling stalk fields as if by roller. The doors of the bank-of Greenville at Greenville, Miss., were closed, with liabilities of $1,000,000. IN Isaac Havens' family near Deer Creek, Ia., five children died from black diphtheria, and the only other child and the father and mother were not expected to live. FIRE ruined the oilcake department of the Union mills in Detroit, Mich. Loss, $150,000. THE steamer West Coast was hauling alongside the wharf at Point Arena, Cal., when her moorings parted, she was driven on a reef and nine of the crew were drowned. AT Peru, Ind., John Mongoza, chief of the Miami tribe of Indians, died suddenly in a saloon. FANNY THOMAS, a colored woman who lived near Portland, Ind., died at the age of 103 years. FRANK VANDEWALKER completed his fortieth quail in as many days at Ann Arbor. Mich.