10922. Bank of Blue Mountain (Blue Mountain, MS)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
January 3, 1931
Location
Blue Mountain, Mississippi (34.671, -89.026)

Metadata

Model
gpt-5-mini
Short Digest
3e1fa581

Response Measures

None

Description

Articles show Bank of Blue Mountain was among banks listed as closed in early Jan 1931 (state took over some closed banks) and by Feb 4, 1931 the bank and its branch at Ashland were reported likely to resume business. No explicit run or depositor panic is mentioned in the texts. I mark the suspension cause as government_action because the Jan. 3 article lists several banks 'taken over by state.'

Events (2)
1. January 3, 1931 Suspension
Cause
Government Action
Cause Details
Listed among banks closed and some 'taken over by state' in early January 1931; state action/closure of institution is indicated.
Newspaper Excerpt
Bank of Blue Mountain with deposits and capital ... closed
Source
newspapers
2. February 4, 1931 Reopening
Newspaper Excerpt
the Bank of Blue Mountain and its branch at Ashland probably Wednesday Thursday (resumed business).
Source
newspapers

Newspaper Articles (2)
1. January 3, 1931 The Morning Union Springfield, MA
Article from The Morning Union, January 3, 1931

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Article Text

Affairs of New York Bank "Scrambled." NEW Jan. termingled financial affairs corporations of the closed Bank of States today hearing on affairs of the corporations. Carl repres ntative the hearings for Joseph E. Broderick, state banks closed the institution 11. of. fered comment on the after chairman mittee, testified the financial ture the four Singer deall four were solvent. The which. went into last are the of New City Financial the cipal Fanancial Corporation and the Bankus After long involved for the asked Singery man shares he 56 made up of one share Bankus and Bank of United States. that right?' that's right," the witness replied. In to question as to how much had raised for the corporations and then additional been rowed, total of Banks Close Withdrawals by today the for the closing of five taken over by state and The closed the First Na. were Bank of Pontotoc, capital of $125,Bank $534,000 and stock $100,000; Citiat Winona, deposits $260,000 $25,000; Bank of Blue Mountain with deposits and capital Bank Derma deposits of and $10,000 capital. Arkansas Banks Reopen. ROCK Ark., Walter the reopening of Those reopening are: The Eudora Bank the closed dora Bank and Trust Company EuSalem and the Farmers' Bank Alabama Bank Closed. MONTGOMERY Jan. Dent F. banks, announced late today People's Bank had Capital stock was listed at with surplus $3000. Deposits on Nov. 1930, $61,880.

2. February 4, 1931 The Indianapolis News Indianapolis, IN
Article from The Indianapolis News, February 4, 1931

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Article Text

VAN SWERINGENS BID Brothers Seek to Add Eastern Road to Rail Empire. Once more the Van Swerseek wider for their ingen empire Comalmost top of the for division eastern into major systems, Vans-M. and left doubt of their to their network into If this invasion the brothers, who entered the field their real will stand at the network from the coast Maine to Rockies Great Salt lake. Their & Ohio, Nickel carry them from the at New York the plains and dustrial cities of the west, the Missouri Pacific takes across the Mississippi to Utah and the Rio Grande, Their determination to acquire the miles of trackage of the Boston Maine railroad for their Nickel O. system were before the Chamber last by William H. Boyd, Cleveland attorney. Mississippi Banks Reopen. JACKSON, Miss., February 4 (A.P.) -Resumption of business by Mississippi banks recently closed goes forward. The first of the larger tutions reopened and others pare follow. The Peoples Savings Bank at Starkeville, closed for several has reopened. The reorganized Greenwood Bank and Trust Company probably will resume Thursday or Friday and the Bank of Blue Mountain and its branch at Ashland probably Wednesday Thursday. Three recently at Winona, Kilmichael and Ethel have reopened. Four Iowa Banks Merge. OTTUMWA, Ia., February 4 (A.P.) -Merger of four Ottumwa banks into the Union Bank and Trust Company announced. The banks involved the Ottumwa Savings, Iowa Ottumwa National and Wapello CounSavings Bank. The merged tutions have resources of more than 000 making it one of the largest banks in southern or northern Missouri.