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First National Bank loan register

 Collection
Identifier: LH-0069

Scope and Contents note

This three-ring binder is a ledger organized alphabetically by the borrower’s name noting loans made by First National Bank to local individuals and organizations during the period 1928-1930. It lists the amount of the loan and the collateral, and has original signatures of the Finance Committee approving each loan.

Amounts range from a few hundred dollars to several thousand dollars with collateral frequently being real estate, mules, crops, insurance policies, and stock in companies like Coca Cola and Mandeville Mills. The Finance Committee was made up of prominent citizens including medical doctors M.M. Hallum and H.J. Goodwyn, and merchants J.W. Stewart and A.J. Baskin. The borrowers included many familiar local names, and included the city Methodist church, C.M. Tanner Grocer, and Carroll Mills.

This was a critical period for the mostly agricultural community in Carroll County with a record drought affecting crops, the boll weevil eating away at the cotton economy, and the Depression affecting every enterprise. In the year following the last entries in this ledger, the bank was forced to close.

Dates

  • 1928-1930

Creator

Conditions Governing Access note

Open to all users; no restrictions

Conditions Governing Use note

Rights have been transferred to the University of West Georgia.

Biographical/Historical note

First National Bank was located in what was originally a four-story building at the corner of Newnan and Alabama streets on the square in Carrollton. It closed its doors in 1931 during the Depression and was taken over by the People’s Bank, which moved its operation into the building. The People’s Bank closed in 1932 for six months until it could restructure its assets and reopen.

Extent

0.21 Linear feet (1 box)

Language

English

Overview

Leatherette binder with alphabetical entries of local individuals and organizations borrowing money from First National Bank.

Immediate Source of Acquisition note

Purchased from Underground Books LLC, Carrollton, Georgia in June 2013.

Processing Information note

Processed by Suzanne K. Durham in June 2013.
Title
Guide to the First National Bank loan register LH-0069
Status
Completed
Author
Finding aid prepared by Written by Suzanne Durham
Date
2013
Description rules
Describing Archives: A Content Standard
Language of description
English
Script of description
Latin
Language of description note
Description is in English

Repository Details

Part of the University of West Georgia Special Collections Repository

Contact:
Special Collections, Ingram Library
University of West Georgia
1601 Maple Street
Carrollton GA 30118-2000 United States