Multiple articles (1909–1911) describe the Scranton State Bank as insolvent, placed in receiver A. L. Staples' hands, with chancery-court-ordered asset sales and dividend distributions to creditors. No article describes a depositor run or reopening — the bank was closed and in receivership. Trial coverage (1910) describes large bad loans of about $125,000. Dates are from newspaper publications and sale/receiver notices.
Events (3)
1.January 6, 1909Receivership
Newspaper Excerpt
Receiver A. L. Staples, of the Scranton State bank ... the receiver in the hands of the court. ... Receiver A. L. Staples of the Scranton State Bank reported to the chancery court ... that he had sufficient funds in his hands to pay a dividend to all creditors of the said bank of five per cent ... The court thereupon ordered the receiver to pay out to all creditors ... the dividend as above stated. (March 1909). A. L. Staples, receiver of the bank, then took the stand and went over the details ... the condition of the bank when he took charge ... failure amounted to $125,000 on loans (1910).
Source
newspapers
2.January 6, 1909Suspension
Cause
Government Action
Cause Details
Bank declared insolvent and placed in receivership by chancery court; receiver A. L. Staples appointed and ordered sale of bank property.
Newspaper Excerpt
BANK PROPERTY SOLD BY ORDER OF RECEIVER Scranton. Miss., Jan. 6.-Receiver A. L. Staples, of the Scranton State bank, sold today under order of the chancery court the property in this city, together with the banking house belonging to the defunct institution.
Source
newspapers
3.March 19, 1909Other
Newspaper Excerpt
New Notice to Depositors and Creditors of Scranton State Bank ... all depositors or other creditors ... are hereby notified to register or probate the same ... within sixty (60) days ... pursuant to an order of the Chancery Court of Jackson County, Mississippi, entered in the case of W. H. Westfall, et al., vs. Scranton State Bank (March 17, 1909).
BANK PROPERTY SOLD BY ORDER OF RECEIVER Scranton. Miss., Jan. 6.-Receiver A. L. Staples, of the Scranton State bank, sold today under order of the chancery court the property in this city, together with the banking house belonging to the defunct institution. The sale, took place in front of the couty court house and a large crowd was present. The bidding, however, was slow and the property was finally knocked down to Walter Gaulter, of West Pascagoula, for $10,005. This is one of the most desirable properties in the county, the banking-house being a two-story brick and stone building. The price paid is regarded as fair and the sum realized will add materially to the next dividend to be ordered by the court in March.
2.March 19, 1909The Pascagoula Democrat-StarPascagoula, MS
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Article Text
New Notice to Depositors and CredItors of Seranton State Bank. W. H. WESTFALL, ET AL. YN. SCRANTON STATE BANK All depositors or other creditors of the Scranton State Bank who have not hereto form registered or probated their claims in the office of the Clerk of the Chancery Court of Jackson County, Mississippi. are hereby notified to register or probate the same in the office of the Clerk of the Chancery Court of said County. within sixty (60) days from the date hereof. or they will be debarred from participating in the distribution of the assets of said bank in the hands of the receiver. The above notice Is given pursuant to an order of the Chancery Court of fackson County, Mississippi, entered in the case of W. H. Westfall, et al., vs. Scranton State Bank. on March 17. 1909 Witness my hard this the 18th day of March, A. D. 1909, I. P. DELMAS, Clerk. March 19, 1909. 7-8t
3.March 19, 1909The Pascagoula Democrat-StarPascagoula, MS
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Article Text
The name of Mr. Robin D. McLeod, of Moss Point appears in this issue of the DEMOCRAT-STAR as a candidate for sheriff of Jackson county. The gentleman is a native born and is well known to the citizenship generally. He possesses all the requirements necessary to a good official, and should he be chosen to the office he would discharge every obligation to the best of his ability.
An adjourned meeting of the city council was held Tuesday night, at which time Mr. M. M. Watkins, city clerk and auditor, made his report on the books of ex-Marshal Ed. F. Hudson. Mr. Watkins' report was complete in detail and showed Mr. Hudson had settled in full with the city. The report was received by the council and unanimously adopted.
Receiver A. L. Staples of the Scranton State Bank reported to the chancery court on Wednesday that he had sufficient funds in his hands to pay a dividend to all creditors of the said bank of five per cent of the amount of their respective claims. The court thereupon ordered the receiver to pay out to all creditors of the bank whose claims have been registered or probated the dividend as above stated.
4.April 9, 1909The Pascagoula Democrat-StarPascagoula, MS
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Article Text
Notice to Depositors and Creditors of Scranton State Bank. W. H. WESTFALL, ET AL.. vs. SCRANTON STATE BANK. All depositors or other creditors of the Scranton State Bank who have not heretofore registered or probated their claims in the office of the Clerk of the Chancery Court of Jackson County, Mississippi, are hereby notified to register or probate the same in the office of the Clerk of the Chancery Court of said County. within sixty (60) days from the date hereof. or they will be debarred from participating in the distribution of the assets of said bank in the hands of the receiver. The above notice is given pursuant to an order of the Chancery Court of Jackson County. Mississippi, entered in the case of W. H. Westfall, et al., vs. Scranton State Bank, on March 17. 1909. Witness my hand this the 18th day of March, A. D. 1909, I. P. DELMAS, Clerk. March 19, 1909. 7-8t
5.April 16, 1909The Pascagoula Democrat-StarPascagoula, MS
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Article Text
Notice to Depositors and Creditors of Scranton State Bank. W. H. WESTFALL, ET AL., vs. SCRANTON STATE BANK. All depositors or other creditors of the Scranton State Bank who have not heretofore registered or probated their claims in the office of the Clerk of the Chancery Court of Jackson County, Mississippi, are hereby notified to register or probate the same in the office of the Clerk of the Chancery Court of said County, within sixty (60) days from the date hereof. or they will be debarred from participating in the distribution of the receiver. assets of said bank in the hands of the The above notice is given pursuant to an order of the Chancery Court of Jackson County. Mississippi, entered in the case of W. H. Westfall, et al., vs. Scranton State Bank, on March 17. 1909. Witness my hand this the 18th day of March, A. D. 1909, I. P. DELMAS, Clerk. March 19, 1909. 7-8t
6.May 7, 1909The Pascagoula Democrat-StarPascagoula, MS
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Article Text
Notice to Depositors and Creditors of Scranton State Bank. W. H. WESTFALL, ST AL. vs. SCRANTON STATE BANK. All depositors or other creditors of the Scranton State Bank who have not heretofore registered or probated their claims in the office of the Clerk of the Chancery Court of Jackson County, Mississippi, are hereby notified to register or probate the name in the office of the Clerk of the Chancery Court of said County. within sixty (60) days from the date hereof. or they will be debarred from participating In the distribution of the assets receiver. of said bank-in the hands of the The above notice is given pursuant to an order of the Chancery Court of Jackson County. Mississippi, entered in the case of W. H. Westfall, et al., vs. Scranton State Bank, on March 17. 1909. Witness my hand this the 18th day of March, A. D. 1909. I. P. DELMAS, Clerk. March 19, 1909. 7-St
7.March 23, 1910The Hattiesburg NewsHattiesburg, MS
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Article Text
STEWART ON TRIAL IN SCRANTON BANK CASE Gulfport, Miss., March 23. - When the case of the State of Mississippi VS. J. W. Stewart, of Moss Point, charged with accepting deposits for the Scranton State Bank while acting as cashier of the Moss Point branch, knowing that said bank was insolvent, was resumed yesterday morning. J. I. Ford and P. K. Mayers, who were directors of the bank, identified the minutes and charter. Mr Mayers testified that he knew nothing of the bank's condition at the time of the failure. A. L. Staples, receiver of the bank, then took the stand and went over the details of the condition of the bank when he took charge and stated what he did to recover the losses sustained by the bank, which at the time of the failure amounted to $125,000, on loans to four concerns on notes without any endorsement or collateral. At the noon hour court adjourned with Staples still on the stand.
8.November 24, 1911The Pascagoula Democrat-StarPascagoula, MS
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Article Text
Order your Wood and Coal from BLACKWELL. Thursday morning Manager Blethen announced an entirely new departure for bis popular photo-play house. Complete dramatic presentations will be given, the entire evening being devoted to them. His schedule, as so far arranged, includes the following: "Vitagraph Monthly," Dec. 1; "Foul Play," Dec. 4; "Two Orpbans," Dec. 19; "Colleen Bawn." Dec. 25; "Auld Lang Syne," Dec. 28. According to a statement made by a prominent business man of the port territory during the past week, an official is quoted as having said that the Frieco system has decided not to take over the Pascagoula Northern railroad, at present. Whether this official has been correctly quoted or not has not been ascertained, but it is believed that early in the coming year something definite will result. Let us make that new Fall Suit and you will be satisfied. Cowgill. A. L. Staples. trust officer for the City Bank and Trust Company of Mobile, receiver for the old Scranton State Bank, was in the city on Wedneeday on business. Mr. Staples said that he would be ready to make his final report as receiver at the term of chancery court opening in this city ou Friday. He expressed the opinion that there way be another small divIdend to be paid to the stockholders of the old bank. The floral tributes placed upon the bier and grave of Joseph Alexander Mitchell last Wednesday were numerous and beautiful. Among the especially touching tributes was the large wreath on no uptight kiven by the members of the two base ball teams of the city, of which the deceased bad been a member. The large wreath was crossed with a beautiful band of silk on which appeared "P. L. W. 2. H. W. Regrets." The pall beaters were members of the two teams.
