Contributed by klstacy_home
Description: Failure of McNab BankDate: April 17 1891
Newspaper published in: Tupelo, MS
Source: Lee County, MS Library
Page/Column: Page 1, Column 3
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Various Things That are Happening Around Us
The failure of the John McNab bank in Eufaula the other day was a great shock to the business world. The bank was a landmark in our financial world. The late John McNab, the founder of the institution, was native of Isley, the famous little island off the west coast of Scotland, noted nowadays for its various brands of whisky. He came to America when quite young, and during his long, useful, and honorable life he accumulated a handsome fortune.
The Eufaula Times, speaking of the McNab bank failure, says: “Regarding the cause of the assignment, speculation in Florida lands and lumber mills is given, but of course nothing is known, since Major Reeves does not feel that he has any information to give the public; and speculation as to the real reason has nothing very tangible to go on.