Bank of Greene - Snow Hill, NC

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: October 5, 1925
Location: Snow Hill, North Carolina (34.104, -78.754)

Metadata

Model: gpt-5-mini
Short Digest: e2ec095fbeefc3a1

Response Measures

None

Description

Article (Greensboro Record, 1925-10-05) reports the Bank of Greene (a state institution at Snow Hill, NC) 'closed its doors recently' and that the National Bank of Snow Hill is the temporary receiver. No run is described; reasons for suspension are unclear though a dispute over about $300,000 in public funds and transfer of those assets is mentioned. Classified as suspension leading to closure/receivership.

Events (2)

1. October 5, 1925 Receivership

Newspaper Excerpt: The National Bank of Snow Hill is the temporary receiver for the Bank of Greene, state institution at that town which closed its doors recently.
Source: newspapers

2. October 5, 1925 Suspension

Cause Details: Bank 'closed its doors recently'; reasons not cleared up. Dispute reported concerning approximately $300,000 in public funds/deposits which were transferred with other assets to the National Bank.
Newspaper Excerpt: the Bank of Greene, state institution at that town which closed its doors recently.
Source: newspapers

Newspaper Articles (1)

1. October 5, 1925 The Greensboro Record Greensboro, NC

Article from The Greensboro Record, October 5, 1925

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Article Text

Carolina Farm News BIG RELIGIOUS MEET. GREENVILLE, Oct. Pitt coun ty special thanksgiving service which will be observed in Greenville on Friday. October 23. will no doubt be the largest attended meeting of religious nature ever before wit nessed in this part of the state. The service will begin at 11 o'clock in the forenoon and will continue throughout the day with basket pienic. The plans were perfected at meeting of the ministers of the county held here this week. and Hon. Clyde Hoey, of Shelby, has been extended an invitation to attend and asked to make one of the principal speeches of the day. The meeting which will be open air will be held at the fair grounds and other than the seating of the grandstands additional preparations are being made to comfortably take care of the thousands who will attend. ARRANGING TOWN. CLINTON Oct. Clinton business men are perfecting arrangements for a "Get Acquainted" tour into all sections of Sampson county It will have the twin purpose of en couraging interest in the county fair. November 3-7, and of stimulating trade. The plan was proposed by Major George E. Butler and Commissioner W. D. Kelly. It received the immediate and enthusiastic support of the chamber of commerce. the civic clubs and scores of merchants and professional men as individuals. It is probable com mittee, including local business men and farmers from the sections of the county to be visited will be appointed the latter part of next week to compile a program and itinerary BANK MADE RECEIVER KINSTON. Oct. The National Bank of Snow Hill is the temporary receiver for the Bank of Greene, state institution at that town which closed its doors recently. The af fairs of the closed bank were in "good shape," according to attor neys here. Reasons for the suspen sion have not been cleared up. The bank is known to have been the depository for approximately $300.000 in public funds, and there was some dispute concerning this deposit, it is said. The money or paper covering it was transferred to the National bank with other assets of the Bank of Greene, It is under stood. Final disposition of the in stitution's affairs has not been determined upon, so far as can be learned. PATTON TO RESIGN CHARLOTTE Oct. 5.-Joe Patton secretary and manager of the Made: in -Carolinas Exposition, will offer his resignation to the board of directors Monday at the first meeting of that body after the fifth annual show and retire from connection with the exposition Mr. Patton will give his entire time in future to the industrial sec tion of the Charlotte Observer. The idea of an exposition to ex ploit the industries of the Carolinas was born in Mr. Patteon's mind. more than five years ago and he is credited with having made the ex position success. EXPECT BIG YEAR. SANFORD. Oct. 5.-Sanford's opening sale of tobacco was 64,748 pounds with an average of $18.06 The range was from $4.00 to $55.00. All the leading companies are rep. resented here this year and the prospects promise the best year in the history of the market. LEASE TOBACCO PLANT. WINSTON-SALEM, Oct. 5.-An nouncement was made here this aft. ernoon that the plant, brands, etc., of the Flynt Tobacco company. manufacturers of chewing and smoking tobaccos for 10 years or more, have been leased for a term of years to the Brown and Williamson Tobacco company. a large and successful concern, which will continue to operate the Flynt plant. FAIR OPENS OCT. 13. MOUNT AIRY. Oct. management of the Virginia Carolina Fair is sparing neither time, effort. nor money to make the fair this year season of pleasure and profit to all who will attend The fair will open October 16th. 13 continuing through the Among the attractions announced is the famous Victor Band, a 20 piece band with Miss Gertrude J. Van Denise as soloist, and Herbert White as xylophone soloist. All school children will be admitted free Friday October 16. The purses are generous and the large number of entries of many of the best horses and drivers of the turf assure splendid races. Ample parking space has been provided inside the grounds and easy access may be had to all cars at any time. COOPS ADOPT RESOLUTION. DANVILLE, Oct. 5.-Members of the Tobacco Growers' Co-operative Marketing association in the bright leaf belt in session here today adopted resolutions condemning unqualifiedly auction prices now prevailing and calling on the business men of this section to bring their influence to bear in securing better prices. Another resolution reaffirmed faith in the integrity of the officials, especially those against whom suit has been filed. Four hundred farmers were here and heard addresses from R. R. Patterson, M. O. Wilson and Tucker Watkins. Mr. Patterson explained the delay in the payment expected early this season. He said that tobacco already sold had not been paid for nor delivered and that the directors thought it unwise to borrow money to make the payment. RECEIPTS SATISFACTORY WINSTON-SALEM. Oct. 5.-The auction tobacco warehouses were reported today and the sales at the five houses totaled about 200.000 pounds, the average price being 17 cents. Practically all of the offeringswere primings and. considering the quality of the weed. the farmers considered the receipts quite satisfactory. Growers of the weed here today. were free to say that the percentage of real good tobacco raised in this and adjoining counties this year would be found to be small. Judging from reports made, the local market will not sell over 25,000,000 pounds the coming season. This will be something like 15,000,000 below the average.