10521. Bank of Murphy (Murphy, NC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 22, 1930
Location
Murphy, North Carolina (35.088, -84.035)

Metadata

Model
gpt-5-mini
Short Digest
6b3600be09f291ba

Response Measures

None

Description

Multiple contemporary newspaper clippings (Nov 22–23, 1930) report the Bank of Murphy in Murphy, NC closed its doors and did not open today. The items are OCR-corrupted but consistently indicate a suspension that appears permanent (listed among banks closed in western North Carolina during that wave). No clear description of a depositor run triggering the action is given in the excerpts, and no reopening is reported. Cause is not specified in the texts available (OCR errors obscure capitalization/figures).

Events (2)
1. November 22, 1930 Suspension
Cause Details
Article states the bank closed its doors during the wave of bank suspensions in western North Carolina; no specific cause (rumor, insolvency, or government action) is given in the clipped text.
Newspaper Excerpt
The Bank of Murphy, N. C., oldest financial institution in western North Carolina, with deposits of $350,000, closed its doors
Source
newspapers
2. November 23, 1930 Other
Newspaper Excerpt
Bank of Murphy Fails to Open... the state banking [department] was given notice of closing (OCR text fragmented). Bank of Murphy did not open today was reported in the Raleigh item, indicating continued closure after initial suspension/closing notice.
Source
newspapers

Newspaper Articles (4)
1. November 22, 1930 The Cleveland Press Cleveland, OH
Article from The Cleveland Press, November 22, 1930

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Article Text

BANK CLOSINGS NOW TOTAL 120 Four in South and West Are Added to Week's List of Suspensions By UNITED PRESS The total of bank suspensions in the South and Midwest during the week stood at 120 with two more closed today in North Carolina and one each in Tennessee and Minnesota. "Malicious and false rumors' which brought a run were blamed for closing the First National Bank of Newport, Tenn. The Bank of Murphy, N. C., oldest financial institution in western North Carolina, with deposits of $350,000. closed its doors The Bank of Black Mountain also suspended. The State Bank of Kinbrae, Minn., was closed by state examiners because of lack of reserve. Meantime in Little Rock Ark., the State Banking Department prepared to take charge of more than 30 banks which tions during the week

2. November 22, 1930 The Oshkosh Northwestern Oshkosh, WI
Article from The Oshkosh Northwestern, November 22, 1930

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Article Text

MORE BANK SUSPENSIONS Asheville, small western North Carolina banks today added to the of those to suspend the Central Bank and company closed Thursday. Altogether banks closed in three days. The today were the Bank Black the Polk County Bank and the Bank Murphy at MurThe total deposits in the three

3. November 22, 1930 The Brattleboro Reformer Brattleboro, VT
Article from The Brattleboro Reformer, November 22, 1930

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Article Text

ANOTHER BANK CLOSES. Total of 13 in Western North Carolina Last Three Days. Nov. The notified morning that Bank Murphy did open today, which closed western North Carolina in three days. bank was capitalized at had surplus $15,000; profits $4,269, total deposits according its last Sept.

4. November 23, 1930 Winston-Salem Journal Winston-Salem, NC
Article from Winston-Salem Journal, November 23, 1930

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Article Text

Department Given Notice of Closing Raleigh State Bank Department has the closing today the Bank Trust Company The bank was capitalized September 24 listed posits at Bank of Murphy Fails to Open Raleigh The state banking ing that the Bank of Murphy did not business bringing the banks which closed Western North Carolina in three bank at vided of and deposits of her 24. call statement. as of Septem- Suspend Work On Highways Little Rock, Ark. Dwight H. chairman of night the suspension of state force work the