10283. Bank of Andrews (Andrews, NC)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
March 10, 1914
Location
Andrews, North Carolina (35.202, -83.824)

Metadata

Model
gpt-5-mini
Short Digest
df6e238ab528aeca

Response Measures

None

Description

Articles describe depositors making a run after nearby Commercial and Savings Bank at Murphy closed; Bank of Andrews closed its doors mid-March 1914 to avoid withdrawals and announced a 20-day closure, but a receiver was in place by 1916 (receiver paid school funds), indicating permanent closure/receivership. Bank type not specified in articles.

Events (3)
1. March 10, 1914 Run
Cause
Local Banks
Cause Details
Depositors ran on the Bank of Andrews following the closing of the Commercial and Savings Bank at Murphy (both Smathers banks).
Measures
Bank closed its doors and refused withdrawals when management realized depositors were withdrawing funds.
Newspaper Excerpt
The closing of the Smathers banks was the result of the lack of confidence on the part of the depositors, who made a run on the banks.
Source
newspapers
2. March 11, 1914 Suspension
Cause
Local Banks
Cause Details
Management closed the bank to avoid the possibility of a run resulting from the closing of the Commercial and Savings Bank at Murphy; suspension announced as temporary (twenty days).
Newspaper Excerpt
The Bank of Andrews followed the same course. ... Announcement was made yesterday to the effect that the Bank of Andrews, which closed its doors Wednesday, will be opened within the next twenty days.
Source
newspapers
3. July 13, 1916 Receivership
Newspaper Excerpt
The treasurer of Andrews school district has recently received from the receiver of the Bank of Andrews, $2000.00 which is part of the building fund which was in this bank when the receiver was appointed.
Source
newspapers

Newspaper Articles (4)
1. March 6, 1914 The Richmond Virginian Richmond, VA
Article from The Richmond Virginian, March 6, 1914

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Article Text

IN U.S. CIRCUIT COURT The United States Circuit Court of Appeals yesterday, with Circuit Judges Prichard, Knapp and Woods, and District Judge Dayton in attendance, heard argued case No. 1244. Paris Jarrell et al., appellants, vs. James C. Cole and Clinton Crane, appellees; appeal from the District court at Charleston, W. Va. Argued by John E. Blake, Madison, W. Va., for the appellants, and by Cary N. Davis, Huntington, W. Va., for the appellees, and submitted. Case in call today: No. 1251. Bank of Andrews and A. A. Fain, receiver, petitioner, vs. Vonno L. Gudger, receiver, respondent: on petition to superintend and revise, District Court of the United States for the Western district of North Carolina, at Asheville, In bankruptcy. To be argued by James H. Herrimon, Asheville, N. C., for the petitioners, and by Alf S. Bernard, Stevens & Anderson, Asheville, N. C., and W. D. Payne, Charleston, W. Va., for the respondent.

2. March 6, 1914 The Times Dispatch Richmond, VA
Article from The Times Dispatch, March 6, 1914

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Article Text

U. S. Circuit Court of Appeals. The United States Circuit Court of Appeals reconvened yesterday morning at 10 o'clock with Circuit Judges Pritchard, Knapp and Woods and District Judge Dayton in at tendance. Case argued: No. 1244-Paris Jarrell et al., appellants. vs. James O. Cole and Clinton Crane. appellees: appeal from the District Court at Charleston, W. Va. Argued by John E. Blake, Madison. W. Va., for the appellants, and by Cary N. Davis. Huntington, W. Va., for the appellees. and submitted. Case In call: No. 1251-Bank of Andrews and A. A. Fain, receiver, petitioner, vs. Veno L. Gudger, receiver. respondent: on petition to superintend and revise. District Court of the United States for the Western District of North Carolina. at Asheville; in bankruptcy. To be argued by James H. Merrimon, Asheville. N. C., for the petitioners, and by Alf S. Barnard, Stevens & Anderson, Asheville, N. C., and W. D. Payne, Charleston, W. Va., for the respondent.

3. March 12, 1914 Western Carolina Democrat and French Broad Hustler Hendersonville, NC
Article from Western Carolina Democrat and French Broad Hustler, March 12, 1914

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Article Text

CHEROKEE BANKS CLOSE. The Commercial and Savings bank at Murphy closed its doors Tuesday and on Wednesday the Bank of Andrews followed the same course. These two banks were known as the Smathers banks and were practically under the same management, J L. Smathers being president of both. It is generally believed here that the depositors in neither bank will lose anything. The stockholders may suffer a slight loss. The closing of the Smathers banks was the result of the lack of confidence on the part of the depositors, who made a run on the banks. When the banks' management realized that depositors were going to withdraw funds, the doors were closed and none were permitted to withdraw.-Bryson City Times. Announcement was made yesterday to the effect that the Bank of Andrews, which closed its doors Wednesday, will be opened within the next twenty days. It is stated that the board of directors deemed it advisable to close the institution for a term of twenty days to avoid the possibilityof a run which might result from the closing of the Commercial and Savings Bank at Murphy.-Asheville Citizen.

4. July 13, 1916 French Broad Hustler and Western Carolina Democrat Hendersonville, NC
Article from French Broad Hustler and Western Carolina Democrat, July 13, 1916

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Article Text

# Receives School Money. The treasurer of Andrews school district has recently received from the receiver of the Bank of Andrews, $2000.00 which is part of the building fund which was in this bank when the receiver was appointed. - Andrews Sun.