10912. Commercial Bank & Trust Company (Aberdeen, MS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
December 17, 1930
Location
Aberdeen, Mississippi (33.825, -88.544)

Metadata

Model
gpt-5-mini
Short Digest
3aa3664c

Response Measures

None

Description

Both articles (Dec 17, 1930) report the Commercial Bank & Trust Company, Aberdeen, MS, failed to open and its affairs were turned over to the state banking department for liquidation. OCR in the articles garbled capitalization figures (one article shows Capitalization of the bank was $60. and another shows unclear numbers); I did not invent corrected capital amounts. No explicit run is described — action is a suspension/closure by state authority.

Events (1)

1. December 17, 1930 Suspension
Cause
Government Action
Cause Details
Bank failed to open and its affairs were turned over to the state banking department for liquidation; suspension appears to be by state action following failure to open.
Newspaper Excerpt
On an order of the board of directors the Commercial Bank and Trust company... failed to open today, and affairs were turned over to the state banking for liquidation.
Source
newspapers

Newspaper Articles (2)

Article from The Courier News, December 17, 1930

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Article Text

TWELVE Bank and Trust of Harrisont and Affiliated Institutions Close. LITTLE Dec. iccked by the closing of more than four score state and national banks month ago. felt the strain of second upthrust when group banks, whose affairs were closeinterwoven. closed their doors today. The institutions suspending iness today included some of largest in the northwestern section. The group was headed by owns shares in all the affected institutions. The of the group is the Citizens Bank and Trust company Harrison, of which Hudspeth rice-president. The bank was capiInlized at $100,000. and deposits gregated more than $1,000,000 was generally conceded in banking circles here today the collapse was directly attributable the November crash. which carried the Banks group, consisting of more than 40 banks and headed by the American Exchange Trust company of Litle Rotck. reported that Hudspell: held large block of stock In the Little Rock bank. The closed banks declined make any statement other than say the suspension caused by heavy withdrawals of the past two weeks. resulting from the failure Caldwell and company. Nashville, banking house, and difficulties encountered by the Banks group. Two national banks were among those closed today. They the First National Bank of Harrison and the First National Bank of reka Listed among the banks closed today The Citizens St. Joseph: Citizens Bank and Trust company. Harrison; First National Bank, First National Bank, Eureka Springs: Bank of A1Alpena Pass: Bank of North Arkantas, Everton: Bank of Lead Hill. Lead Hill: American Exchange Bank, First State Marshall: Citizens Bank. Yellville: Bank Filippin. Bank of Tyatt. the last two of which are brauches of the Citizens Bank Mississippi Bank Closes ABERDEEN Miss.. Dec. 17. (UP) On an order of the board of directors the Commercial Bank and Trust company. one of three banks here, failed to open today. and affairs were turned over to the state tanking for liquidation Capital of the bank was with $15,000 sinking fund. The bank statement Issued 1930 showed deposits of $118,000 with savings accounts deposited totaling


Article from Des Moines Tribune, December 17, 1930

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Article Text

DOZEN ARKANSAS BANKS CLOSED FOUR LYON COUNTY BANKS CLOSE DOORS Affairs Turned Over to State Officials. LITTLE ROCK. ARK (U.P.) Twelve Arkansas banks and trust Wednesday closed their doors. turning over their affairs to the state banking de partment The closures were attributed to heavy withdrawals The banks were: Citizens Joseph Citizens Bank and Trust Co Harrison First Na tional First Na tional Eureka Springs Bank of Pass Bank of Everton Bank of Leadhill Leadhill Amer ican Exchan bank Leslie First State bank Citizens bank. Yellville Bank of Flippin, Flippin Bank of The last two banks listed were branches of the Citizens Bank of Yellville The Citizens Bank & Trust company of Harrison is the largest bank those closed with deposits totaling more than one million dollars. banks with large deposits were the Citizens* bank of Yellville and its deposits First State bank Marshall $320.000 American ExAggregate deposits of the other banks estimated at more than One In Mississippi ABERDEEN MISS The Commercial Bank Trust company. one three banking in stitutions here failed to open Wednesday and its affairs were turned over to the state banking department for liquidation Capitalization of the bank was $60. (The Tribune's Iowa News Service.) ROCK banks in Lyon county closed their doors Wednesday The largest was the First National bank of Rock Rapids. which had deposits of $318,000. according to the last published report, and of 000 The Alvord at Alvord. private institution: the Savings bank of Larchwood state bank, and the Farmers National bank of Inwood were the others which suspended business. According to the Iowa bank directory Alvord bank capitalized $22 000 and had deposits of $315,000. The Larchwood Savings bank had capital of $90 000 and deposits of $200,000, and the Farmers National bank Inwood had capital of $40,000 and deposits of Charles Shade is president of all four banks