''This article incorporates text from a publication now in the public domain: ''History of Atlanta, Georgia'' by Wallace Putnam Reed (1889)''
The Georgia National Bank was a bank in
Atlanta, Georgia
Atlanta ( ) is the capital and most populous city of the U.S. state of Georgia. It is the seat of Fulton County, the most populous county in Georgia, but its territory falls in both Fulton and DeKalb counties. With a population of 498,7 ...
, commissioned by the United States government in the Fall of 1865. The officers at that time were
John Rice, president,
E. L. Jones, cashier,
E. E. Rawson, judge
William Wirt Clayton William Wirt Clayton (1812–1885) was the son of noted Georgia politician Augustin Smith Clayton. In Atlanta, Georgia, W. W. Clayton became a judge, director of the Western and Atlantic Railroad, tax collector for Fulton County, Georgia and an offi ...
,
S. A. Durand, and judge
John Collier, directors. The capital stock was $100,000, divided into 1,000 shares, a majority of which was held by John Rice. The stock remained in the hands of the same parties until 1870 when
Hannibal Kimball
Hannibal Ingalls Kimball (May 16, 1832 – April 28, 1895) was an American entrepreneur and important businessman in post-Civil War Atlanta, Georgia.
Early years
Born in Oxford County, Maine to family of Methodist wheelwrights. He was the f ...
purchased 800 shares. The bank was the depository of the State of Georgia during Governor
Rufus Bullock
Rufus Brown Bullock (March 28, 1834 – April 27, 1907) was a Republican Party politician and businessman in Georgia. During the Reconstruction Era he served as the state's governor and called for equal economic opportunity and political rights f ...
's administration. On February 6, 1872, a suit was brought against the bank to recover the money which it was claimed belonged to the state and was unlawfully held. At the time of bringing this suit, the bank stock was held by
S. A. Lapham, who held one-half of the stock, and others. The legal fight to regain possession of the state funds held by the bank was carried to the
United States Supreme Court
The Supreme Court of the United States (SCOTUS) is the highest court in the federal judiciary of the United States. It has ultimate appellate jurisdiction over all U.S. federal court cases, and over state court cases that involve a point o ...
and forms one of the most interesting cases in the legal history of the city. As a consequence of this controversy, the bank was forced to suspend operations and never resumed business.
References
''History of Atlanta, Georgia'' by Wallace Putnam Reed, 1889
{{Atlanta history
Defunct banks of the United States