Articles (Dec 1930) report the Zebulon Banking & Trust Company failed to open for business today after a series of withdrawals/heavy withdrawals. This indicates a depositor run that led to a suspension of payments. The piece states directors hoped to reopen but gives no definitive reopening or closure later, so the outcome is uncertain.
Events (2)
1.December 4, 1930Run
Cause Details
Series of heavy withdrawals by depositors; article does not specify an initiating rumor or bank-specific insolvency detail.
Measures
Bank failed to open for business; notice posted; closed for the protection of all depositors.
Newspaper Excerpt
the Zebulon Banking and Trust Company, only bank of Zebulon... failed to open business today ... said the closing followed series of withdraw[als]
Source
newspapers
2.December 4, 1930Suspension
Cause Details
Suspension of business (failed to open) prompted by heavy withdrawals; directors hoped to reopen but no further information in the article about resumption or receivership.
Newspaper Excerpt
failed to open for business today ... said the closing followed series of withdrawals. He said the directors hoped reopen the institution
Source
newspapers
Newspaper Articles (2)
1.December 4, 1930The Free Lance-StarFredericksburg, VA
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Article Text
Carolina Banks Fail To
CHARLOTTE Dec First National the oldest National bank in North Carolina. failed to open for business today notice. signed by M Mcaden. president, and posted on the door. said heavy withdrawals led to decision to close the doors for the protection of all depositors. The bank is now in the hands of national bank receivers4,ha9fl national bank examiners Founded in 1869. the First Nation had capital stock of surplus $400,000 and on September reported deposits of Dec The Zebulon Banking and Trust Company. only bank of Zebulon. 15 miles from here. failed to open business today Bunn. vice-president and cashier of the bank, said the closing followed series of withdrawHe said the directors hoped reopen the institution
Louisiana's leading hen produced eggs 334 days last year.
2.March 19, 1931Cedar Rapids OutlookCedar Rapids, NE
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Article Text
Carolina Banks Fail To
CHARLOTTE Dec First National the oldest National bank in North Carolina. failed to open for business today notice. signed by M Mcaden. president, and posted on the door. said heavy withdrawals led to decision to close the doors for the protection of all depositors. The bank is now in the hands of national bank receivers4,ha9fl national bank examiners Founded in 1869. the First Nation had capital stock of surplus $400,000 and on September reported deposits of Dec The Zebulon Banking and Trust Company. only bank of Zebulon. 15 miles from here. failed to open business today Bunn. vice-president and cashier of the bank, said the closing followed series of withdrawHe said the directors hoped reopen the institution
Louisiana's leading hen produced eggs 334 days last year.
