10348. Bank of Clinton (Clinton, NC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 22, 1931
Location
Clinton, North Carolina (35.000, -78.332)

Metadata

Model
gpt-5-mini
Short Digest
60c3bc80713447b5

Response Measures

None

Description

OCR errors corrected (e.g., 'Bank Of Closes To Sampson' was garbled). Articles (June 22–23, 1931) report the Bank of Clinton closed and placed in the hands of the state banking department/conservator to conserve depositors and to prevent a run. The bank remained closed and entered liquidation; by April 1934 liquidating agents were paying dividends. Sequence: suspension by state action and subsequent liquidation (permanent closure).

Events (3)
1. June 22, 1931 Receivership
Newspaper Excerpt
the bank has been placed in the hands of the state banking ... the board directors, the bank has been placed in the hands of the state banking conserving the depositors.
Source
newspapers
2. June 22, 1931 Suspension
Cause
Government Action
Cause Details
Bank placed in hands of the state banking department/conservator; board notice posted and operations closed to conserve depositors and to prevent a run.
Newspaper Excerpt
the bank has been placed in the hands of the state banking conserving the depositors.
Source
newspapers
3. April 7, 1934 Other
Newspaper Excerpt
Depositors the Bank of Clinton, which closed some three years paid cent. dividend today. This the fourth dividend paid ... Stevens liquidating agents for the two banks.
Source
newspapers

Newspaper Articles (3)
1. June 22, 1931 Goldsboro News-Argus Goldsboro, NC
Article from Goldsboro News-Argus, June 22, 1931

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Article Text

Bank Of Closes To Sampson Avoid Run After Bank Of Clinton Shuts Up (Special to Bank of June Clinton state bank. and the Bank Sampson federal bank. did not open business here this morning. leaving Clinton without banking notice posted on the door of the Bank Clinton stated order of the board directors, the bank has been placed in the hands of the state banking conserving the interthe depositors. the door of notice posted on the Bank Sampson. which Just across the street from the Bank of be expressed belief that the insaid and and paid toand loans and discounts Bank Sampson on the The issued report showcapital

2. June 23, 1931 The Atlanta Constitution Atlanta, GA
Article from The Atlanta Constitution, June 23, 1931

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Article Text

TWO CLINTON BANKS SUSPEND OPERATION CLINTON, N. June Clinton was deprived of banking facilities with closing today of the Bank of Clinton, and the Bank of Sampson. The first notified depositors had placed its affairs in the state department assets for depositors. The Bank announced it closed because had been notified of the Clinton tention to close and wished to prevent a run. The Bank of Clinton listed capital $50,000. resources the Sampson. capital $30,000: resources $263,788.50.

3. April 8, 1934 The News and Observer Raleigh, NC
Article from The News and Observer, April 8, 1934

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Article Text

DEPOSITORS RECEIVE THEIR FOURTH Clinton, April 7.-Depositors the Bank of Clinton, which closed some three years paid cent. dividend today. This the fourth dividend paid and orings the total cent., about $65,000. The dividend paid day amounted to $12,957. Sampson, which closed at the same time, has per cent, dividend date. Stevens liquidating agents for the two banks.