10468. Bank of Kelford (Kelford, NC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 1, 1930*
Location
Kelford, North Carolina (36.180, -77.224)

Metadata

Model
gpt-5-mini
Short Digest
1db3d8d551bbbe19

Response Measures

None

Description

Articles (Oct 2, 1930) report the Bank of Kelford closed/suspended in January 1930 and is being liquidated; a liquidating agent (Herbert Paschal) was named and depositors have been paid 20% of deposits. No explicit run is described in the text; the closure appears contemporaneous with the suspension of the Bank of Ahoskie, suggesting local contagion but no direct cause is given. OCR in Article 1 omitted the percentage number; Article 2 clarifies it as twenty percent.

Events (3)
1. January 1, 1930* Suspension
Cause
Local Banks
Cause Details
Closed about the same time as the Bank Ahoskie suspended; articles do not state a specific internal failure but link timing to local bank suspension.
Newspaper Excerpt
The Bank of Kelford ... closed its doors about the time the Bank Ahoskie suspended
Source
newspapers
2. October 2, 1930 Other
Newspaper Excerpt
The Bank of Kelford ... has paid its depositors twenty percent of their money on deposit when the bank closed in January. The bank has liquidated by the which named Herbert Paschal, Roxobel, as liquidating agent. In addition to the amount depositors the bank has paid preferred and secured against when suspension necessary last January.
Source
newspapers
3. * Receivership
Newspaper Excerpt
liquidating agent ... Herbert Paschal, Roxobel, as liquidating agent
Source
newspapers

Newspaper Articles (2)
1. October 2, 1930 The Herald Ahoskie, NC
Article from The Herald, October 2, 1930

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Article Text

BANK PAYS DIVIDEND TO ITS The Bank of Kelford, which closed its doors about the time the Bank Ahoskie suspended, has paid its depositors percent of money deposit in the bank closed. Payments were the Corporation The bank has liquidated by the which named Herbert Paschal, Roxobel, as liquidating agent. In addition to the amount depositors the bank has paid preferred and secured against when suspension necessary last January.

2. October 2, 1930 The Herald Ahoskie, NC
Article from The Herald, October 2, 1930

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Article Text

One Year $1.50 Six Months .75 Three Months .40 All Subscriptions out of the Roanoke-Chowan Section $2.00 Entered as second-class mail matter February 25, 1910, at the Post Office at Ahoskie, North Carolina, under the Act of March 3, 1878. THURSDAY, OCT. 2, 1930. the need of closer supervision of hydro-electric power companies, fast becoming gigantic corporations extending over great areas and to a large extent controlling industry and shaping the habits of people in the homes. Since Governor m brought the subject to the fore, investigation after investigation has been started and prosecuted. The latest investigation announced is that to be made by the Federal Trade Commission of the alleged "stock watering" of the Carolina Power and Light Company. Two North Carolina congressmen having died within a week's time, their bodies are not under the sod before speculation is rife and claims are made by friends for their appointments as successors to the positions. Politics makes us all do strange things and anything seems to be premissable in the name of politics. Ahoskie's citizens, not having been convinced there were real reasons for any such action on his part, are proud to learn that Councilman H. S. Basnight, dean of the town governing body, has reconsidered his resignation of last week and stays on the board. The Bank of Kelford, of our sister county, has paid its depositors twenty percent of their money on deposit when the bank closed in January. Stockholders and depositors in the local bank, a suspended business along about the same time, have shown an unusual spirit of tolerance and confidence in the management of the bank's affairs during the eight months period.