The Bamberg herald. [volume] (Bamberg, S.C.) 1891-1972, 1904-05-19
National and Private Institu-
ton Fail at Macon.
TWO MILLIONS INVOLVED
Both Concerns Under Control Of r n.
Plant - Established in 1863 and
1865 Suspension Caused the
Greatest Surprise.

A~S ~ ~ 2NoIAOAd1 Do0At VI N4oSSA,
Ca, and the l. C. Plants Sons bank,
two Of the oldest and generally accept
ed as among the most solid financial
institutions Of the south, closed their
doors Monday morning in the face Of
a long line of creditors, to whom were
due sums aggregating over S2,000.0 900.
The failures were wholly unexpected.
Both banks are known in the flnan.
cial world whenever and wherever Ma.
cons financial condition are discussed,
and both have always been considered
abundantly able to meet any and all
demands that might at any time Je
made upon them. Both carried The
Plant name, a name long since accept
ed in the financial world generally as
a synonym for prompt payment, safety
and honesty. So strong has been the
faith of the public in the Plant name
that of the two banks, one national
depository, the other private instituI
ton, the latter carried larger deposit
than the former.
With both banks r. H. Plants name
was prominently identified. OF the ma
tional bank he was president, while OF
the private bank he was the sole direc-
tor, if not owner. The First national
bank was established in 1865, and mad
a capital and surplus Of $265.0o0 OF
it R. H. Plant was president, George
H. Plant was vice president, and h. =.
Findlay was cashier. The board OF di-
rectors carried the names OF some OF
the leading and most successful husi-
ness men of the city.
The 1. C. Plants Sons bank vas
the elder of the two corporations or
bodies. 1t was started in 1868 and was
manipulated and directed by R. II.
Plant personally. 1t carried the name
of the father Of the two brothers who
have always been identified with Ma
cons banking interests since the city,
began to recoup from the disastrous
days of the war between the states. SO
great was the confidence of the people
generally in the C. Plants Sons
house that it's deposits are now said TO
be in the neighborhood Of $1,500, ,O6o. s.
No intimation of any embarrass-
ment of any kind was abroad until az
ter the calamity had come, and Tor
that reason the failures were that
much greater in the surprise they car
ried to the public.
With the stroke Of 9 Monday morn
ing, the doors Of the national bank
were thrown open for business and
for about forty minutes the clerks and
officials went on with the daily routine
of work, some accepting money and
others paying it out. About $40 q
well known business man presented
check for severa! hundred dollars.
The cashier passed the check back to
the payee, remarking:
"The bank is closed and payment
cannot be made on that check.
It developed later that soon after
the national bank opened Judge Fei-
ton, of Bibb superior court, present
ed a check, which was paid. The ex'
act amount of that check cannot be
given, as the judge declines to talk
and as the gentlemen in line immedi-
ately after the Judge. the one hrst
turned down, did not notice partcu-'
larly.
It was the check next after Judge
Felton's that was turned down. That
check was in the four figures, and
was over $4,000. Next after 1t came
Congressman Bartlett. The. congress
man had been informed that his money
would be safer in his pocket, at least
that it would be more ready for toach
there than in the First national bank,
and went at once 10 draw it out. He
passed the paper, calling for some
thing like $500 over the counter.
and the paper was handed back to him
by the cashier with pleasant smile,
but without any coin.