Mechanics & Farmers Bank

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: March 23, 1933
Location: Durham, North Carolina (35.994, -78.899)

Metadata

Model: gpt-5-mini
Short Digest: 7f2c4d749a6ff3e9

Response Measures

None

Description

Article (Mar 23, 1933) says the Mechanics and Farmers Bank of Durham (a non-member of the Federal Reserve) was closed under government restrictions/bank holiday and wired it would open probably on Thursday or Friday pending the governor of North Carolina. No run or depositor panic is described; this is a government-ordered suspension associated with the 1933 bank holiday and planned reopening.

Events (2)

1. March 23, 1933 Suspension

Cause: Government Action
Cause Details: Closed under government restrictions / the 1933 bank holiday; non-member banks awaiting governor/Treasury authorization to reopen.
Newspaper Excerpt: The Mechanics and Farmers Bank of Durham, N. C., wired that it will open probably on Thursday or Friday with other non-members of the Federal Reserve. Its opening, it said, depends on the governor of North Carolina.
Source: newspapers

2. March 24, 1933 Reopening

Newspaper Excerpt: The Mechanics and Farmers Bank of Durham, N. C., wired that it will open probably on Thursday or Friday with other non-members of the Federal Reserve.
Source: newspapers

Newspaper Articles (1)

1. March 23, 1933 The Northwest Enterprise Seattle, WA

Article from The Northwest Enterprise, March 23, 1933

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Article Text

FIVE ARE READY; TWO MORE IN RECEIVERSHIP WASHINGTON D. C.-(Special) Six banks in Baltimore, Philadelphia, New York, Richmond, Charleston, West Virginia, and Atlanta, Ga., opened last week when government restrictions were removed. Five others are expected to open during this week and two in Virginia are in the hands of receivers. The Wilson bank, a private concern of Baltimore, opened Tuesday, doing business as usual without any restriction. The Dunbar National Bank of New York, operated by Rockefeller interests, also opened, and received over $100,000 in deposits. Monday. The Citizens and Southern Bank and Trust Company, of Philadelphia, opened its doors also on Monday. Major R. R. Wright, president, received $15.000 in deposits since the bank holiday was declared. "We have been open practically every day" he said. Quaker City Lodge and O. V. Catto Elks were among the first to congratulate the bank. Virginians Open Monday The Consolidated Bank and Trust Company, of Richmond. Va., which is a consolidation of the St. Luke's Bank, the Second Street Bank and the Commercial Bank, opened on Monday with other banks in the Federal Reserve. Atlanta Bank Not Affected The Citizens Trust Co., of Atlanta, Ga., is open for unrestricted business. Mechanics and Farmers The Mechanics and Farmers Bank of Durham, N. C., wired that it will open probably on Thursday or Friday with other non-members of the Federal Reserve. Its opening, it said, depends on the governor of North Carolina. Danville (Va.) Savings M. C. Martin, cashier of the Danville, Va., Savings Bank and Trust Company, wired that no bank in Danville is eligible under the Treasury ruling, to open before Wednesday. Mr. Martin said he expected his bank to open then. Charleston, W. Va. The Mutual and Savings Loan Co. of Charleston, W. Va., was authorized to open Wednesday (Continued on Page Two)