The clarion. [volume] (Jackson, Miss.) 1883-1888, 1884-07-23
Greens Bank.

The failure of Greens Bank was sur
prise and a shock to this community
not exceeded by any occurrence which
we can now recall. So long had the
bank been one of the institutions of the
place, and so cautious and prudent had
been its methods, that it had gained the
confidence of the citizens to an extent
which can scarcely be realized; and even
now that the bank has closed its doors
and its effects have been placed in the
hands of receiver, the confidence of
the community in the judgment and the
honesty of the owner and officers of the
bank is such that most of the depositors
believe that the extent of their loss will
not be more than temporary inconven-
fence.
Joshua Green, the President and
owner of the bank has been a resident
of Jackson for little less than 40 years,
during which time, until Monday last,
he has never failed to meet his financial
obligations. The banking business of
which Greens Bank is the successor was
started in 184S, by Joshua Green and
his brother Thomas Green, under the
firm name of 81. & T. Green"
In 1876 Green's Bank was chartered
by the Legislature, Joshua Green and
Thomas Green becoming the stock
holders. Thomas Green died several
years afterwards and Joshua Green be-
came, by purchase, the owner Of his
brothers stock, so that now he is sole
stakeholder. W. II. III. Green is the
cashier and a salaried officer. The sus-
pension was caused by inability to real
ize on the securities of the bank, which
Mr.. Green believes will be ample when
the money market shall become a little
easier. being. in value 81 90. 900 in excess
of liabilities. In addition to the assets
of the bank Messrs. w. H. H., and j. j.
Green have property estimated by them
to be worth $25O,oO0 with which they
promise to make good any deficit.
We know little of the private man
agement of the bank, but from what we
do know, and from long knowledge of
the gentlemen who have been connected
with, it We are prepared, now. to say
that it is an honest failure, and we
believe that an exhibit of the banks
assets will show that its investments
have been carefully and prudently
made. All creditors of the bank win
fare alike, as, on the application of Mr..
Green, (to guard against litigation
which would have embarrassed and
ieopardized the interest Of depoitors had
an assignment been made) Col. J. L.
Power was appointed receiver by the
Chancellor Of this District.
The receiver is now engaged in max
ing a statement of the assets and liabil-
tiles Of the bank to be presented to q
meeting of the creditors to be held in,
Representatives Hall on July 26, at
12 II.
The great confidence felt by the COM
munity in Mr.. Green has had no little
to do with preventing "a run. on the
the Capital State Bank, though that in
stitntiOn was prepared to pay all its de
positors, and its officers seemed rather
to enjoy the opportunity of showing
how solvent It really was. Il is fortu-
nate for jackson and the surrounding |
country that We have another bank
in our midst with large facilities for
rendering to the commercial commune
ty such assistance as may enable it to-
get along till the crops begin to move,
when it Is believed money win not be so
tight.