10945. Leake County Bank (Carthage, MS)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
December 29, 1930
Location
Carthage, Mississippi (32.744, -89.533)

Metadata

Model
gpt-5-mini
Short Digest
b336f71a

Response Measures

Full suspension

Description

Contemporary AP reports (Dec 29, 1930) state that a run was given as the cause of the closing of the Leake County Bank at Carthage. Articles report the bank was closed following a run; there is no mention of a reopening, receivership assignment, or rescue — so I classify this as a run leading to a permanent closure. OCR errors in Article 1/3 were corrected (garbled sentences) but did not alter substance.

Events (2)
1. December 29, 1930 Run
Cause
Rumor Or Misinformation
Cause Details
Newspaper reports state a run on the Leake County Bank precipitated its closing; the article does not specify a concrete trigger beyond 'a run.'
Newspaper Excerpt
A run was given as the cause of the closing of the Leake County bank
Source
newspapers
2. December 29, 1930 Suspension
Cause
Rumor Or Misinformation
Cause Details
State banking department reported the Leake County Bank was closed as a result of the run; articles refer to the bank being closed rather than temporarily suspended and give no rescue plan.
Newspaper Excerpt
Closing of the Bank of Oxford at Oxford and the Leake County bank at Carthage ... were reported today by the state banking department.
Source
newspapers

Newspaper Articles (5)
1. December 29, 1930 Hattiesburg American Hattiesburg, MS
Article from Hattiesburg American, December 29, 1930

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Article Text

Other Institutions Temporarily; Merger at Associated Press) Dec. of two state banks was reported from the state banking Monday by Love, The institutions the Leake County Bank at Carthage and Bank Oxford, Oxford, both which were the oldest stitutions in their respective counties. forced decision to close the Leake County to while Bank of Oxford board decided "temporary" suspension prevailing conditions, declared in statement. Reports from Greenwood today announced reopening of the SecuriBank and Trust company, one institutions which suspended there week ago, and announced plans of officials of the Greenwood Bank and Trust company to resume January president Pitchford the Security Bank institution was doing business this with many deposits in and none going The bank reopened under plan of deposits as suggested by Supt. Love to mass meeting after the general closing. The Greenwood Bank and Trust is expected resume operation after similar plan is effected. Supt. Love reported strong bank today was the outgrowth of Picayune the Bank the Pearl River bank. Tate, president the former, will head the new institution, which will bear name Bank of PicaThe Leake County Bank had deposits $260,000, to the banking department. Capital was and surplus SECURITY BANK REOPENS Miss., Dec. The Security Bank and Trust company reopened for business here this morning. The bank had been closed since December when withdrawals. following the closing of the Wilson Banking company, caused its suspension. ARKANSAS BANK SUSPENDS ROCK, Dec. Van Buren County Bank at Clinton, suspended today five days, the state banking department announced. The president, Garner Frazer, told the he expectthe bank be within the five day period. had capital and surplus deposits of approximate$157,000. BANK CLOSED INDIANAPOLIS, Dec. Central Trust Savings Bank Gary, formerly the Southside Trust Savings Bank, closed today, the state banking commission informed. The bank was capitalizat $100,000 and had deposits with surplus and undivided profits of $25,000. BANK'S ASSETS FROZEN Ala., Dec. Dent Green, state of banks today that the Chambers County Bank Lafayette, Ala., had closed because frozen assets and steady withdrawM. Tucker, of president the bank, reported capital stock of and surplus of $50,000, on its last report. Mr. Green said the total deposits the bank not available. The bank being taken by the state banking for liquidation, Mr. Green said.

2. December 29, 1930 New Britain Herald New Britain, CT
Article from New Britain Herald, December 29, 1930

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Article Text

MISSISSIPPI BANK CLOSES Jackson, Miss., Dec. 29 (AP-Closing of the Bank of Oxford at Oxford and the Leake County bank at Carthage and the reopening of the Security Bank and Trust company at Greenwood were reported today by the state banking department. A run was given as the cause of the closing of the Leake County bank, while the Bank of Oxford decided to suspend temporarily because of "prevailing conditions."

3. December 29, 1930 The Greenwood Commonwealth Greenwood, MS
Article from The Greenwood Commonwealth, December 29, 1930

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Article Text

Depositors Opening To Deposit Money. Reversing the December 20, when were drawing out money, Security Bank pany re-opened for morning, with depositors ing the opening of the place money in New Depositors in the Security Bank were satisfactory it was noon. The Security Bank of the institutions which December 20 excited which came heels the the Wilson Banking the plan freezing further of the Security work reaching the with the was in splendid were last week. that would open this made Saturday, and time this morning many depositors waiting dicate their confidence bank by making posits ready With Security the reported wood Bank mately forty positors Should depositors fail stated, Bank Trust will hands of the state partment on January will liquidated. experience about cent of their deposits seven years The speed the depositors additional added to the committees in charge the The committee signatures are: H. Oliver, Jones, Antoon, John Cortner, Niles land, W. Dubard. Mitchell, Intyre, C. Prosser. borough, Charles Streater, Sutton, White, R. Wilson. JACKSON, Miss. (AP) two state banks ported from state banking department Monday Love, tutions were the Leake Bank Carthage and the of Oxford, Oxford. were the oldest financial institutions in their respective çounrun forced decision close from the Leake bank's directorate, reports, while the ford board decided upon porary" suspension due vailing conditions. clared in statement. Reports from Greenwood today announced reopening the curity Bank and Trust Company, one four institutions suspend there week officials the Bank and Trust Company to resume business progressing. According to Pitehford of the Bank the satisfactory business this morning, many deposits coming and none going The bank reopened "freezing" deposits gested by Supt. Love meeting there after the closing. The Greenwood and Trust expected operation after similar effected. Supt. Love reported bank today was the merger at Picayune Bank of and the River Bank. Tate, dent the former. will institution, which name Bank of The Leake County deposits $260,000, the banking department, was $30,000 and 000.

4. December 30, 1930 Chattanooga Daily Times Chattanooga, TN
Article from Chattanooga Daily Times, December 30, 1930

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Article Text

TWO BANKS CLOSE, TWO MERGE. ONE REOPENED JACKSON. Miss., Dec. 29 ing of the Bank Oxford. at Oxford. and Leake County bank, Carthage. and reopening the Security Bank and Trust Greenwood reported from the state banking department by Love, sugiven the cause the closing County while Bank of Oxford decided suspend temporarily because of "prevailing conditions Superintendent Love said he expected the Greenwood Bank Trust resume He Bank Trust pany at Greenwood reported satisfac-

5. December 30, 1930 The Fresno Morning Republican Fresno, CA
Article from The Fresno Morning Republican, December 30, 1930

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Article Text

WITHDRAWALS, FROZEN ASSETS CLOSE BANKS INDIANAPOLIS Ind., Dec. Central Trust and Savings Bank of Gary, formerly the South Side Trust and Savings bank, was closed today. the state banking commission was informed The bank was capitalized at $100,000 and had deposits of $900.000 with surplus and undivided profits of $25,000. State Senator C. Oliver Holmes is president Recent disturbances in Gary banking circles was held responsible. It the seventh bank to close. 38th State Bank In Kansas Closes TOPEKA, Kas., Dec. The state banking department today announced the closing of the Farmers' State bank at Wheaton. Frozen was given as the reason. It was the state bank in Kansas to fail this year. The latest statement showed $123,225 deposits Two Banks Close, Another Reopens Closing of the Bank of Oxford at Oxford and the Leake County bank at Carthage and the reopening of the Security Bank and Trust company Greenwood were reported today by the state banking depart- Arkansas Bank Is LITTLE ROCK, Ark., Dec. (P)-The Van Buren County bank at Clinton suspended today for five days, the state banking department Frozen Assets Close Bank (4)-The People's Bank of Greensboro was closed today. Frozen as. sets was given the reason. Brighton, Colo., Bank Fails DENVE Dec. (AP) Farmers' State Bank of Brighton, Colo., was taken over today by the state bank the quest of directors. Grant McFerson, state bank said the closing was caused by frozen assets. The bank had deposits of $429,999 which were reduced to $370,000 by withdrawals. The cash and suramounted to $50,000. Withdrawals Close State Bank MONTGOMERY. Ala., Dec. (P)-Dent Green, state superintendent of banks, announced today the Chambers County bank at Lafayette, Ala., had closed because of "frozen assets and steady withdrawals."