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Two Depositories at Newbern, N. C., Shut Doors. By the Associated Press. NEWBERN. N. C., Aug. 7.-The only banks in Newbern closed their doors today. A notice posted on the door of the Citiens' Bank and Trust Co. said the bank was closed because of threatened withdrawals. Two hours later the Eastern Bank and Trust Co. was closed after a small run. The Citizens' Bank had a capital of $50,000 and total re-
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Situation Survey Subject New Bern. Aug. Taylor, of the state banking department, in New Bern day to could be done about giving New Bern Chief John Mitchell was later the day. Two banks, the Citizens Bank and the Eastern Bank and Trust company. closed their doors here yesterday, leaving New Bern with only an dustrial bank. branches the Eastern in this section close. The First National bank suspended business here last October Officials of the two banks today reiterated that the are sound, and that closing was President Swan, declared his bank would not have closed had officials not been under the that could reopen immediately, or soon public confidence was stored. Directors of the Eastern late yesterday the possibilities of mediate reopening.
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TWO BANKS AT NEW BERN CLOSE TO PREVENT RUNS NEW BERN, Aug. 7-State Bank Examiner John Mitchell and sistants from the banking department of the state corporation commission were expected here tonight to take charge of the Citizens Bank and Trust company and the Eastern Bank and Trust company of this city, both of which closed their doors here this morning as precautionary measures against threatened heavy runs and withdrawals. Since last October the First National Bank of New Bern has been in the hands of a receiver, so that the city is now without any commercial bank, except the Morris Plan bank. It is thought at least one of the two banks that closed today will be permitted to reopen shortly, as both are said to be in good financial shape. Closing of the Citizens bank affects the home office here and also its five branches at Arapahoe, Maysville, Oriental, Bayboro and Vanceboro. MRS. JOHN BASKERVILL INJURED IN CAR WRECK Mrs. John Baskervill, wife of the Raleigh correspondent for the North Carolina Association of Afternoon Newspapers, had her right arm broken in three places when driven by her husband collided. another at Valdese, near here, Mr. Baskerville was not injured His wife is being treated at a Morganton hospital.
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New Overwhelmed By Demands of Depositors New Bern, Aug. 7.-State Bank Examiner John Mitchell and assistants from the banking department of the State Corporation Commission were expected in the city night to take charge the Citizens Bank Trust Company and the Eastern Bank Trust Company, which elosed here today precautionary measures against heavy runs withdrawals. New thus left, at least temporarily, without bank, except for Morris Bank, First National Bank has been in the hands receiver since October. hoped, that least one of the two closed today, and possibly both, may be reopen early they are reported to good dition. In fact, meeting of directors the Eastern Bank and Trust Company held late day, make immediate investigation the possibility opening the bank and its five possible. On the President Swan, dent John Weskett, and Warren, director and The branches are Maysville, Oriental, and Vanceboro. Citizens First To Close. The Citizens Bank was closed this morning, minutes before its regular opening time, when throng depositors noted withdraw their funds. gradual drawals and the spread of rumors during the last few days, large yesterday but the bank officials expected to open today, until the waiting throng was outside. Cashier Scott states that the bank in good shape and amply nominal tions that institution could stand heavy withdrawals and that only decision close the bank, order protect depositors and all others concern- For almost two and half hours the Eastern Bank remained open after the closing of the other institution. Every effort was made handle the situation but early became evident that many panicky depositors would immediatetheir The 30-day rule for notifying the bank about withdrawing was put into force the tide ed and the that the heavier the rest of the day. To interests of all in the best manner (Please Turn to Page
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Examiner To Cope With Bank Trouble NEW BERN, Aug. Examiner Taylor, of the state banking department, was in New Bern today to see what could be done about giving New Bern banking facilities. Chief Examiner John Mitchell was expected later in the day. Two banks, the Citizens Bank and Trust company and the Eastern Bank and Trust company, closed their doors here yesterday, leaving New Bern with only an industrial bank. Five branches of the Eastern in this section also closed. The First National Bank suspended business here last October.
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EXAMINER INVESTIGATES NEW BERN BANK FAILURES NEW BERN, N. Aug. -Examiner Taylor, of the state banking department, was in New Bern today see what could be done about giving New Bern banking facilities. Chief ExaminJohn Mitchell was expected later in the day. Two banks, the Citizens Bank and Trust company and the Eastern Bank and Trust company, closed their doors here yesterday, leaving New Bern with only an industrial bank. Five branches of the Eastin this section also closed. The First bank suspended business last October.
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NEW BERN HOPES TO REOPEN BANKS Examiner Taylor, of the state banking department, was in New Bern today to see what could be done about giving New Bern banking facilities. Chief Examiner John Mitchell was expected later in the day. Two banks, the Citizens Bank and Trust company and the Eastern Bank and Trust closed their doors here yesterday. leaving New Bern with only an industrial bank. Five branches of the Eastern in this section also closed. The First National bank suspended business here last October Officials of the two banks today reiterated statements that the are sound. and that (Continued on Page Eleven-A)
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Out Plans For Banking Facilities NEW aminer the banking New Bern today about Bern bankChief Examiner John Mitchell expected later in the the Citizens Bank and Trust company the Eastern Bank Trust closed their doors here leaving New Bern industrial branches the Eastern section closed The National Bank suspended business October
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Fanned Rumors Cause Hysteria Remaining Banks Close Two National Failed Their Last October. New Citizen's Bern, Aug. Bank and Trust Company and the Bank and Trust Company which closed yesterday will not the arrival here of John open Mitchell, chief bank cials said today. meantime Taylor, another bank examiner, charge. New Bern, Aug. Bank Examiner John Mitchell and assistfrom the banking department of State Corporation take charge of the Citizens Bank and Trust Company and Bank and Trust this both which closed their Thursday morning precautionary against threatened heavy runs Since the First bank. has been the hands of that now without except the Morris Plan bank that least one of the banks closed shortly. said to be in good financial shape. Citizens bank was closed five minutes before opening time, large throng depositors noted waiting withdraw The directors met decided not After gradual withdrawals and the spread of rumors during the last were large withdrawals Wednesday. Cashier Scott states that the bank amply able to under normal trend but that institution could stand unusually heaEastern bank remained open for almost two half hours ing the morning but depositors withdrew funds and there were ind cations that the hysteria would grow. The closing of this bank home office here and also its five branches Arapahoe, Maysville, Oriental, Bayboro and Vanceboro.
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BANK by Rumors Cause Hysteria Fanned Banks to Close Remaining National Failed Their October. Citizen's Bern, Bank Company and the Bank and Trust Company which yesterday will until arrival of John Mitchell, chief bank examiner, officials said today. meantime Taylor, another bank examiner, in charge. New Bern, Aug. Bank Examiner John Mitchell assistfrom the banking department of the State Corporation Commission are here take charge of the Citizens Bank Trust Company the Bank and Trust Company, this both which closed their docis Thursday morning precautionary measures against and Since last October the First New has the hands that city bank except the Plan bank oped that one the banks yesterday are said to be good financial shape. Citizens bank closed five minutes before opening time, large throng depositors was noted waiting outside withdeposits. directors met decided After gradual withdrawals and the spread rumors during the last there large withdrawals Wednesday. Cashier Scott states that the bank was amply able to erate under normal trend but that institution could stand unusually Eastern bank remained open for almost two and half hours during the morning but depositors withdrew funds and there ind cations that the hysteria would grow. closing of this bank affects the home here its five branches Arapahoe, Maysville, Oriental, Bayboro and Vanceboro.
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Wilson Company to Occupy Citizens Bank EastBank and Trust Co. Given Permission Reopen. New Bern, Aug. ference State Bank Examiner John Mitchell Friday afternoon Swan and John Weskett, and vice president of the Eastern and Trust that had given the bank here, they open obtain the of the possible that the bank tors. reopened here within the next local branch the Branch Banking and Trust Company, of Wilopened here this morning at Harris, sistant vice president of the will be in charge of the local Although the new bank will have connection whatever with any the former banks, be housed Bank Trust Company audit Citizens Bank books will be separ ately the Baxter, of Raleigh, the liquidating of the banking division the state comTaylor, of Raleigh, of the banking department of the state corcommission, took charge of poration the Citizens Bank Trust the Eastern Bank and Company Trust Company, which closed Thursas precautionary measures heavy and withdrawals. prevent
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HOLDERS OF RALEIGH BANK STOCK ASSESSED Sixty Persons Must Pay for and Trust Co. Daily News Office Raleigh, Nov. stockholders the Raleigh Banking Trust which went down the crash the Durfey and Marr brokerage house, the beginning several days run on the bank, must by November 10. the corporathe sessment representing capital stock of the The Raleigh Banking and Trust company. which closed its doors and went liquidation through the Page Trust company September 16. carried deposits when the doors closed. the stockholdand directors Drake, the largest and he and his family will have the largest amount Mr. Drake's family had nearly $100,000 invested in the bank. On the same day in Craven county Superior court, assessments will docketed by the corporation against the 61 stockholders record of the capital stock defunct Citizens Bank and Trust company of New Sern which failed several weeks ago, The audit of the failed bank's fairs has been since tember 18, about pleted. filed the office of clerk of Wake Superior court.