10952. Planters National Bank (Clarksdale, MS)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 12222
Charter Number: 12222
Start Date: December 29, 1930
Location: Clarksdale, Mississippi (34.200, -90.571)

Metadata

Model: gpt-5-mini
Short Digest: 254fd4ff

Response Measures

Full suspension, Books examined

Other: Depositor 'freeze' agreement sought; bonding companies agreed to freeze $250,000 in deposits; receiver later appointed by Comptroller.

Receivership Details

Depositor recovery rate: 85.5%
Date receivership started: 1931-01-26
Date receivership terminated: 1938-03-29
Share of assets assessed as good: 11.1%
Share of assets assessed as doubtful: 65.7%
Share of assets assessed as worthless: 23.2%

Description

Contemporary articles state a heavy/incipient run and steady withdrawals prompted the Planters National Bank (and affiliated Planters Trust & Savings) to close Dec. 29–30, 1930. Local officials attempted to reopen by 'freezing' deposits, but the Comptroller appointed a receiver for the national bank (A. F. Rawlings) on Jan 27, 1931 and he arrived Feb 2, 1931. The national bank remained in receivership and litigation followed, indicating permanent closure of the national bank. No discrete misinformation event is described; closures were protective responses to withdrawals.

Events (5)

1. June 19, 1922 Chartered

Source: historical_nic

2. December 29, 1930 Run

Cause Details: Described as an incipient run/steady withdrawals; articles do not identify a specific triggering rumor or bank-specific scandal.
Measures: Bank closed its doors to protect assets; depositors later asked to agree to 'freeze' deposits to permit reopening.
Newspaper Excerpt: Officials ... said the Planters National Bank was closed because of an incipient run, and that had been deemed advisable to close to protect the assets.
Source: newspapers

3. December 30, 1930 Suspension

Cause Details: Management voluntarily suspended payments/closed as a protective measure in face of steady withdrawals and an incipient run; reopening contingent on examiners and depositors freezing deposits.
Newspaper Excerpt: Planters National Bank and the Planters Trust and Savings Banks of Clarksdale ... were closed today ... officials said plans for reopening would not be made until arrival of national and state bank examiners.
Source: newspapers

4. January 26, 1931 Receivership

Source: historical_nic

5. January 27, 1931 Receivership

Newspaper Excerpt: Planters' National Bank Receiver Is Appointed; Comptroller Acts in Case of Institution in This City ... A receiver was appointed today for the Planters National Bank here, which suspended business on December 29, 1930, by the comptroller of currency Washington, D.C., ... the receiver's name ... Rawlings ... was named for this position (reported Jan. 28 and arrival Feb. 2).
Source: newspapers

Newspaper Articles (18)

1. December 30, 1930 The St. Louis Star and Times St. Louis, MO

Article from The St. Louis Star and Times, December 30, 1930

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TWO LARGE BANKS CLOSE DOORS AT INDIANAPOLIS Dec. The Maple Road State Bank institution closed afternoon being the Indianapolis bank suspend today The Citizens Bank with nearly deposits closed doors noon Mississippi Banks Close MISS Dec to Denotice the front doors of two the largest banks Clarksdale today lowing They Planters National Bank Planters Trust and Savings Bank, an affiliated banks also were Mississippi closed today Maj. Franco In Belgium scraps of Maj. Ramon Franco, air who fled from his native land cently attempt arrived here today in search of

2. December 31, 1930 The Vicksburg Post Vicksburg, MS

Article from The Vicksburg Post, December 31, 1930

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SEEK TO REOPEN CLOSED BANKS AT CLARKSDALE LITTLE ROCK COP FIGHTS FOR LIFE AFTER SHOOTING Officials or Institutions St. Louis Man Kills Self Working On Plans After Battle Late To Open Yesterday bring Planters Bank and Planters Trust Bank and allied and vesterday result als for week, were going forward Officials of the bank said they could not give definite statement whether reopening would be possible until arrival of national and state bank examiners. wish assure said Anderson president of the Planters National and the Trust Savings bank "that all banks involved are solvent and depositors will be paid in full As to that depends on the of visits here by and bank which late The People's Bank Jonestown Progressive State Bank Tutwiler closed doors yesterday following closure Planters National Bank and alied bank here. The Jonestown and Tutwiler banks were controlled the Planters Bank headed by Anderson Bank officials said today the Planters National Bank was closed because of an incipient run. and that had been deemed advisable close to protect the assets and, if there had not been heavy withdrawals the institutions would have remained open. LITTLE ROCK Dec. Charles was fighting for his life today man identified as Nunn of Louis. lay the sult of gun battle between the young and squad of police in North Little Rock late yesterday. The slain man was identified by from papers in his said officers to have and been the same man who staged battle with sheriff's posse Hazen, Sunday, following robbery near there North Little Rock police were informed the Hazen suspect was in small hotel and they went there him. As they began to arrest search rooms Nunn and down flight of stairs. He shot Charles close range when he ran from the building running two blocks, he forced aged woman and small children from dwelling where barricaded himself. squad officers surrounded the building and tear gas bombs were burled into the place between shots When several minutes passed without shot being fired police entered and found the man with bullet hole head and his by his side. The coroner regun turned verdict of A blood resorted to last night an effort to save Officer Charles' life after an operation but hospital attendants said his chances for recovery were "one in thousand.'

3. December 31, 1930 The Clarksdale Press Register Clarksdale, MS

Article from The Clarksdale Press Register, December 31, 1930

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THE BANK SITUATION The Clarksdale Register has no desire or intention to minimize the situation resulting from the closure of the Planters National Bank and the Planters Trust and Savings Banks of Clarksdale. Nevertheless we are forced to view the situation with greater poise and evenness of mind in view of the statements of officials of these institutions that the banks are solvent and that depositors will be paid. At this writing it has not been full determined, we learn, as to whether these banks shall be reopened, this depending, according to information, more or less incomplete, on the arrival of national and state bank čxaminers and their complete investigations. The that depositors may be paid, a statement we find in the daily press, is sufficient to reawaken hope in the minds of the people. This means that even if these institutions are unable to weather the storm in as complete a fashion as we would like that the depositors are in a manner protected. Frankly, we feel hopeful ourselves that these institutions will be enabled to open again." We are reflecting, to some extent, the opinions of the people as well as that of the press, since there are coming to the Register from many sources statements that the Planters National Bank and the Planters Bank and Trust Company are fundamentally sound. Mr. E. L. Anderson is president of the Planters National Bank and one of the leading business men of the South. Mr. Anderson is a man of courage and honesty and a business man in whom the people can depend. We may all rest assured that he as well as other officials of the banks, known far and wide as men of sterling integrity and honesty, will do in their power to protect the interests of the bank, the business of Clarksdale and the people generally. It is enough to awaken courage to know that we have such men at the head of the institutions As already presented, the Clarksdale Register has no desire to smooth away the seriousness of the situation and to fly in the face of common sense, but we do feel that unfortunately, people generally, especially those who are involved as the result of the closure, are inclined to give way to pessimism in a crisis of this kind. When conditions resulting from the closure are adjusted, when we have had opportunity to analyze all the facts in the case and decide on the consequences, the Clarksdale Register feels that the blow to business will not prove quite SO serious as indicated and now regarded when business men have not had time to look upon the situation in a philosophic manner. The Clarksdale Register will not today or at any other time endeavor to mislead the people as to this grave crisis. We shall not. even in the most remote degree, endeavor to soften the shock, or minimize the seriousness, in a simple effort to those who are downeast. The larksdale Register will be as accurate in editorial and news columns as is humanly possible. But at the same time, in view of official statements, we can not help but think that undue pessimism is not warranted. It is certainly the better part of both wisdom and valor to "carry as usual and to assist in every way possible to restore financial and trade confidence. to quit ourselves like men. This we shall endeavor to do. when the facts are warranted. We shall keep the people informed from time to time both editorially and in a news way as curately as that be possible. We shall not seek to inflate hope unless this is justified. unless there are reasons for hope and courage. But at the present time, we feel that it not wise to be downhearted because of the bank suspension. We would soften the blow at least to the extent of pointing to the reassuring statements of officials. When conditions have had opportunity to readjust themselves, as they surely will, when there is more definite statement on the protection of depositors, the Clarksdale Register believes that business will return to normal. if business men will take the proper attitude and readjust their business to conditions. Hope, courage and action are surely needed in Clarksdale today as never before. If business conditions in this city and the people generally continue in confidence as heretofore, we feel, even in the face of the present severity of the blow to business, that this optimistic note not foolhardy OF not inaccord with common sense. Business is certain to right itself when confidence is restored.

4. December 31, 1930 The Clarksdale Press Register Clarksdale, MS

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Conference Is Held Here For Banking House (Continued from page 1) manly possible to effect an opening of our banks at an early date,' of ficials of the Planters National Bank and the Planters Trust and Savings Bank said. "It hoped that the depositors in the two banks will not lose single penny of their deposits, the officials added. "The combined deposits in the two banks totaled approximately $800,000. The probable date of the opening of the two local banks can not be determined for several Although officials of the Planters National Bank the Planters Trust and Savings Bank are the same, the assets the two banks are separate and distinct, it was pointed out today by officials of the bank, who declared that no preference would be given the depositors of either bank. The Planters National Bank is a national banking institution operating under the National Banking Act. while the Planters Trust and Savings Bank is a state bank operating under charter granted by the state. The combined capital stock of the two banks totals approximately $500,000. Officials of the bank said that the savings accounts deposits held

5. December 31, 1930 The Greenwood Commonwealth Greenwood, MS

Article from The Greenwood Commonwealth, December 31, 1930

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REOPEN BANKS AT CLARKSDALE President of Planters National Assures Depositors That All Will Be Paid CLARKSDALE, Miss. (AP) Efforts to bring about reopening of the Planters National Bank and the Planters Trust and Savings Bank here and allied banks at Jonestown and Tutwiler which closed yesterday as result of steady withdrawals for Officials of the bank said they could not give definite statement whether reopening would be possible until arrival of national and state bank examin- wish to assure depositors,' said E. Anderson, president of the Planters National and Trust and Savings Bank, "that all banks involved are perfectly solvent and depositors will be in full. to reopening, depends on the outcome visits here by national and state examiners, which will likely be late today. The Peoples Bank at Jonestown and Progressive State Bank Tutwiler closed doors yesterday following closure the Planters National Bank and Allied Bank here. The Jonestown and Tutwiler Banks were controlled by the Planters National Bank and headed by Anderson. Bank officials said today the Planters National Bank was closed because of an incipient run, and that had been deemed advisable to close to protect assets if there had not been heavy withdrawals, the institutions would have remained open.

6. December 31, 1930 The Commercial Appeal Memphis, TN

Article from The Commercial Appeal, December 31, 1930

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DEPOSITORS ASSURED OF BANKS' SOLVENCY Six Forced to Close Doors in Mississippi. Reassurance to depositors that the Institutions are "perfectly solvent" was given by bank officials at Clarksdale, Miss., after the Planters National Bank and Trust and Savings Bank Planters closed their doors yesterday mornAt the same time, officials Bank at Jonestown and the Peoples the Progressive announced that their banks closed order avoid officials stated that plans for reopening would not be made until after "the arrival or national and state Two other banks closed Misrunning the total for the day forced two Leake County banks to close. The Bank of Lena had deposits capital of and the Bank Walnut Grove deposits capital of and surplus of $8,000. Miss., Dec. Plans for National Bank. the Trust Savings Bank the Peoples Bank of the Progressive State Bank, which their doors not made unthe arrival of national and state bank according to of the Planters National Bank and Planters Trust Savings Bank of their doors at o'clock this after steady run had been made on the bank from the according to offiopening in the depositors, offi. der to protect cers banks are perfectly solvent and the E. the stat ed The was customers numbers depositors funds early this mornwithdrawn ing. Mr. Anderson national have bank the closing banks make the regarding the reopening Mr. Anderson until they said. National Bank The Planters one of the the and according tutions of made on December to deposits the the total were tion However, these last few reduced was capitalizwith surplus of Trust and Savings The Planters had capital stock fund and surplus deposits savings cording to published financial that the bank was first to The be closed. the posting of notice on both doors the bank been tion, closed. stating the arrival bank the Planters The directors Sr. Bank W. Garner, Paul Holland The Peoples Bank of Jonestown money and not owe any to avoid oflosed merely ficers stated. State Bank of The Progressive which Donald Tutwiler. of president, was closed for officers The Peoples Bank oJnestown, which W. Holland is capitalized surplus $14,000 with and deposits totaling The Progressive Bank President Donald said the instituprevent run bank in order to protect the Bank of which The the largest bank in the Mississippi Tuesday instead of clos. at the regular of o'clock This was officials order to any tomers who wished withdraw funds of Memphis and Clarksdale, is president of the

7. January 1, 1931 The Clarksdale Press Register Clarksdale, MS

Article from The Clarksdale Press Register, January 1, 1931

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N. O. Police Frustrate Plot to Blow Up Headquarters DEPOSITORS TO MEET SATURDAY TO TAKE STEPS Opening Is Contingent on "Freezing" Deposits of Two Institutions. FULL ATTENDANCE AT MEET REQUIRED Majority Number of Those Interested Required Before Action Taken. Definite steps toward the reopening of both the Planters National Bank and the Planters Trust and Savings Bank, which suspended business Tuesday morning, were made early today at a meeting of the boards of directors of both banks, it was announced at noon by the attorney of the banking concerns. It was decided to hold meeting of all of the depositors of both banks Saturday morning at 10 o'elock in the courtroom at the Coahema County courthouse. All depositors are especially urged to be present as it. will be necessary to majority present before any action can taken toward opening the banks. For the banks to reopen it will be necessary for all of the depositors to agree to freeze the deposits as has been done in Greenwood and in other towns in Mississippi, statement from officials of the bank read, following the meeting. At the meeting Saturday morning, the explanation of present reopen ing plans will be made and it is necessary for every depositor to be present, the bank officials pointed out. "It is the consensus of opinion that both banks can and will be reopened and when reopened will be stre than ever. However, they cannot be reopened without freezing of the deposits,' Edward C. Brewer, attorney for the banking concerns, declared, following the meeting. Both of the banks are now in the hands if examiners from the state banking department and the national banking department. C. T. Johnson, state bank examiner, in a statement this morning declared: "It is now up to the board of directors of the Planters Trust & Savings Bank to effect a reopening of that ecneer. This can be done by getting a signed agreement of all their depositors, agreeing to follow the 'freezing' of deposits i.ver Unless the agreement is signed by practically 100 per cent the depo the state banking department cannot sanetion the re opening of the Planters Trust & Savings Bank, the state examiner said. The Planters Trust & Savings Bank will reopen provided the depositors all sign an agi e+ment to freeze and the agreement is approved by the state banking (Continued on Page 3.) CONVICT SHOT SALISBURG, N. C., Dec. 81. (AP) A man believed to be Otto Wood, notorious escaped convict from the state prison was shot and fatally wounded by police chief R. L. Rankin here today. Roy Carter of Roanoke, Va., the dead man's companion, identified him as the escaped convict.

8. January 1, 1931 Evening Star Washington, DC

Article from Evening Star, January 1, 1931

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SIX MISSISSIPPI BANKS CLOSED BY MANAGERS Some Discontinued as "Protective Measure," Others Due to Runs by Depositors, Is Claim. By the Associated Press. JACKSON, Miss., January 1.-Deposits, totaling about $1,730,103 were involved in six bank closures in Mississippi Tuesday. Some closed as "protective" measure, while others gave runs as the cause. The banks closed, including one national, were: The Planters' National Bank, Clarksdale, and its savings division, the Planters' Trust and Savings Bank, a State bank. The national bank carried deposits of $700,000 and the State institution had savings of $503,103. The Progressive State Bank, Tutwiler, deposits of $200,000, and the People's Bank of Jonestown, deposits $50,000. Both affiliated with the Clarksdale institution. The Bank of Walnut Grove, deposits $100,000, and the Bank of Lena, deposits $75,000, both in Lake County.

9. January 8, 1931 The Clarksdale Press Register Clarksdale, MS

Article from The Clarksdale Press Register, January 8, 1931

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CITIZEN WANTS TO KNOW. general public wondering why you don't publish just how much money is being turned over Public Charities Committee each Sunday from proceeds of Sunday solemnly elaborates A Citizen, in a received by the Clarksdale Register. A rule exists in newspaperdom, which dates back to Greeley, that newspapers will not publish a communication which does not-indicate the courage of the convictions of the writer, in short, that letters which are unsigned, or penned anonymously, will not be noticed. Nevertheless, in this instance at least, we shall not let a little thing like that hamper us. We shall come out in the open even if A Citizen refuses to do so, We will take the "general public" into our confidence. We take pleasure in not only publishing A Citizen's letter, but also in answering it.\ is noted that you publish the amounts given to King's Daughters and that collected at union church service on Sunday night, but you have never mentioned the amounts received from Sunday picture shows," A Citizen continues. "We are all interested, as this is a public matter, and we would like for you to publish the amount received from picture shows. Now, just too bad! But the answer is that the Clarksdale Register does not publish the amount each week because the Paramount theatre Clarksdale does not make known the amount for publication; but if A Citizen will kindly cast his weather eye on the public streets he will see scores of jobless working who would be starving if they did not have an opportunity as a result of the efforts of the Clarksdale Charities Association to provide them with daily labor. More than this, if our good we assume that he is since we have been easting around and we believe we know the author of the letterwill also put in his time "free, gratis, for nothing," as every noble man and woman backing the charities association is doing, in assisting them to provide the wherewithal for the poor he will discover that the weekly proceeds from picture shows are considerable. It would indicate that a large majority of good people are wholly in sympathy with this temporary measuré to aid the unemployment situation. If our good friend really desires to know how much is made weekly; we respectfully suggest that he provide himself with a good, stout pèncil and notebook and every Sunday midnigh,t when the last man and woman who patronizes the Sunday shows for sweet charity sake has passed on and out to peaceful slumber, feeling a good deed has been done, that he stand at the box office and get the exact data on the subject. Then the following morning to sure of himself and his data, it might be advisable him to check up at the But why pother self mere Surely there is enough for all of us to do without agitating the old noodle about the non-essentials! The Clarksdale Charities Association, soon or late, will beyond a doubt give us the complete figures what has been made and as to the hundreds of jobless who have been cared for as a result of their kind and, Citizen, the greatness of the work, we are certain. will astonish you! factories shops back to work. Provincially, there are tangible, concrete evidences that the tide is turning, It has begun to start in the minds of deltans. They say, are going to quit this foolishness. We intend to put our shoulders to the wheel. We propose to carry on as usual." One irrepressive optimist says that ere the new crop comes in there will not be a sufficient number of laborers to carry forward the projects proposed, or under way, Mississippi will larger appropriation for feed, seed. food and fertilizer than any other state in the Union, and that's that. Editor The Mississippi Delta Finance Association is making headway for Federal Intermediate Credit Bank loans which will bring thousands of dollars Coahoma finance crop, and that another. The Staple Cotton Discount Corporation is funetioning without a lapse in arranging credits other erop, which fine and dandy. Clarksdale merchants are on the whole in sound financial condition with little indebtedness, which is a headliner for more business. The Planters National Bank and the Planters Bank and Trust Company will resume business in less than 30 days, who says we are downhearted The Coahoma County Board of Supervisors will put $400,000 into highway construction as soon as may be, and that will be work for the workers and money in of trade. The charity organizations are employing scores of laborers, and this money is being put into circulation daily. As soon as planters and farmers are financed, all of the unemployed are sent back to their jobs, the shock to business lessened, cotton acreage curtailed and people live at home, conditions will be readjusted. Looking forward, thot backward, will save the delta. You ought to thank God morning, noon and night that you live in such a country; but you can not offer lip service and deny it with the mind. You can not serve two masters and get away with it. The time has arrived for honest optimism, based on FACTS and there are a sufficiency of these to make financial and trade whoopee!

10. January 27, 1931 The Clarksdale Press Register Clarksdale, MS

Article from The Clarksdale Press Register, January 27, 1931

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Planters' National Bank Receiver Is Appointed; Comptroller Acts in Case of Institution in This City A receiver was appointed today fice of for the Planters National Bank here, which suspended business on is December 29, 1930, by the comp. troller of currency Washington, D. was revealed this after. noon by telegrams received by local representatives of bonding Beomp- al anies, which protected county, ficials municipal and levee board funds working in the closed bank. Aside from the bare fact that and receiver had been appointed no further information had been received 'clock this afternoon by bonding company tives, officials of the bank and the bank's attorney. The receiver's name, whose in- comes of the itials and address are unknown by the bank officials, Bawlings the The effect on the plans the Planters National Bank by of the receiver at present, Brewer, attorney for the bank, said He pointed out that the appointment might tend towards more bank opposite effect. Rogers drought closed bank, and Chancey Smith, the bank, not uefl, be reached this afternoon for statement. B. Sessions, cashier, had no comment make concerning the appointment receiver. appointment of receiver for the national bank will in way affect the re-opening plans tion by the Planters Trust and Savings Bank, which has the same officials of the national bank and which were closed along with the national bank. ing whose instigation the Using was appointed is known, Mr. mula, said. He said that the tobacco except the officials at the comptroller of thought that further in formation concerning the appoint ment of receiver. will be 'ceived here late today or tomorrow. Patrons of the Planters Bank cooperation with of the bank have been diligently to effect its by getting depositors bonding companies to agree to deposits in the bank. Practically all of the individual depositors have already agreed the proposition has three of companies. The appointment of the receiver surprise to the patrons bank. in the program to open Planters Trust and Savings Bank is anticipated. HAWKS ON FLIGHT 27 New today for where will Cross relief, landed Cleve airport after few minutes stop be off withous disclosing his next NEW Book lovers of Clarksdale will have the of reading some new biographies and stories of fiecalling the local Carnegie Library, as small shipment of such books has been received. They placed on the shelves this afternoon. the extension Hilburn Balden produced pounds sold

11. January 28, 1931 The Greenwood Commonwealth Greenwood, MS

Article from The Greenwood Commonwealth, January 28, 1931

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APPOINT BANK RECEIVER Miss. With plans going forward for the opening the Planters National Bank soon, today that receiver been appointed for institution the comptroller of currency at Washington came surprise to of ficials the bank and citizens Clarksdale. Rawlings has been named for this position. The news of appointment through surety companies which are protecting funds of the city, county and other public institutions. Ed Brewer, attorney for the bank, stated this afternoon that had learned from the national bank examiner the federal reserve officials, that the pointment of receiver not prevent banks form reopening and that plans will go forward looking this end. Anderson, of the National Bank and fthe Planters Trust and Savings Banks, which closed Dec. 29, left for Memphis this afternoon discuss the appointment of the receiver with federal authorities. Mr. Anderson was unable to learn where Rawlings from or when he will reach Clarksdale Brewer said he believed that the receiver was named to lieve the bank examiner been in charge here and who has been ordered elsewhere. Bank officials stated afternoon that the bonding companies signed the agreement freeze $250,000 in deposits the institutions would probably open within few days, despite the new developments in the case today.

12. February 2, 1931 The Clarksdale Press Register Clarksdale, MS

Article from The Clarksdale Press Register, February 2, 1931

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BANK RECEIVER BEGINS DUTIES IN CLARKSDALE A. F. Rawlings of Sanford Arrives to Take Charge of Institution. A. F. Rawlings, of Sanford, Fla., who last Tuesday was appointed received of the Planters National Bank, which closed here December 30, by the comptroller of eurrency, arrived in Clarksdale Saturday noon and started work at his job of receivership today. His appointment and arrival will in no way block the opening of the Planters National Bank provided the requirements laid down by the bank examiner, Russell J. Mooney, are complied with, Mr. Rawwlings stated today. He said that plans were being worked on by the officials of the Planters National Bank to effect reopening of that institution and that he would step out the day the bank was reoponed. The requirements of the bank ex. aminer as laid down shortly after the bank closed were that the de(Continued on Page 4.)

13. April 19, 1931 Clarion-Ledger Jackson, MS

Article from Clarion-Ledger, April 19, 1931

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BANK FAILURE UP IN COURT First Charge of Irregularity of State Suspended Banks is Made (Continued from Page One) Securities unlawfully transferred from the National bank to the Citizens Bank and Trust company at Yazoo City, were put up as security when the latter institution qualified to become the Yazoo county depository, according to the petition. The posting of securities was unlawful, since the YaZOO City institution did not own the bonds but was merely holding them as trustee for the National bank, according to the receiver's contention. He charges that after the Citizens Bank and Trust ompany closed its doors December 20, it was the duty of the liquidating agent to protect the interests of the national bank. The bonds claimed by the Clarksdale National bank were offered for sale by the YaZOO county board of supervisors, after the local bank closed and were disposed of January 13 of this year. A part of the issues were bought up by representatives of the closed bank and later disposed of by the state banking department for $42,490 15, according to the petition. However, the receiver charges that the liquidating agents failed to redeem some $36,000 in additional bonds, claimed by the Clarksdale bank. The receiver declares the state banking department is preparing to pay over to the depositors of the Citizens Bank and Trust company, the $42,490.15 realized from the sale of the contested bonds. The petition seeks a temporary injunction restraining J. S. Love, state banking department head and Liquidating Agent Moore of the Yazoo City bank from paying over the funds for distribution. In addition the petition asks that the court order the state department and liquidating agent to set aside the first available funds from the assets of the closed bank to pay some $40,509 85, difference alleged due between the amount realized from the sale of the recovered first bonds and the total securities involved. The receiver declares in the petition that the total liabilities of the Planters National bank at Clarksdale are approximtely $1,600,000 nd that it is improbable that a dividend of more than 50 percent can be paid. He declares it the "duty of the closed bank to redeem its pledge to the national organization."

14. April 25, 1931 Clarion-Ledger Jackson, MS

Article from Clarion-Ledger, April 25, 1931

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CLARKSDALE BANK FIGHTS FOR BONDS Hearing at Yazoo City Before Judge Holmes Tuesday Will Be Contested CLARKSDALE, April 24.-Counsel for the Planters' National bank at Clarksdale and the Citizens Bank and Trust company of Yazoo City, both of which institutions closed in December, are preparing for a hard-fought case to determine the legal right to bonds amounting to $83,000 held by the Yazoo City bank's liquidating agent and which was claimed by F. Rawlings, receiver for the Planters' National bank. Judge Edwin R. Holmes will on Tuesday hold a hearing at Yazoo City on a petition of the Planters' National bank receiver for an injunction filed in United States district court to restrain J. S. Love of Jackson, state superintendent of banks, and Dr. C. C. Moore, liquidating agent for the Citizens Bank and Trust company, from disposing of the funds secured from the Clarksdale bank. A restraining order, to be effective until the petition of the Clarksdale bank receiver is heard, was issued recently by Judge Holmes.

15. September 7, 1931 The Clarksdale Press Register Clarksdale, MS

Article from The Clarksdale Press Register, September 7, 1931

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LABOR DAY IN RAWLINGS TO THIS CITY IS HANDLE HELENA DULY OBSERVED BANK'S AFFAIRS Bankers, Federal Employes and Others Close, Business Runs Normal. With the exception of federal emfbankers and bank Labor Day went ticed in Clarksdale today the fact that today is legal holiday, all business houses remained open and business went usual. The County Bank and Trust Co., and the Bank of dale elosed all day as were barber shops and the fice. With exception the United States Marshal's office the United States Prohibition office, all of the offices in the federal building were closed all The barbers, well as the bank day going fishing on Moon Lake or going Memphis. The offices of county officials the remained open and the Coahoma county board met in regular month. session. All city offices were open today and the daily session of city court promptly at 8:30 by Judge Rodney Brooks. Labor Day did hinder the candidates for the high school football team from tak ing part two practice sessions at Dorr field. Receiver of Planters Na tional Bank Goes to Helena to Take Charge. F. Rawlings, who been re- out delay. of the Planters National Bank coming from the here since of eight grades in other schools January this year, will should present their succeed promotion eards, or their last report cards Interstate National Bank Failure Helena, Ark today this render more difficult the press from Helena, task classification and may named as Pottorff's cause child classified cessor comptroller eurgrade lower than his previous school reney Washington, D. record would justify. Mr. Rawlings will divide his time new students will be classibetween the local bank and the Infied and assigned to rooms Friterstate National Bank at Helena. day morning when the entire stuHe could not be reached today for dent bodies will assemble to regisstatement, although is practically ter and secure their book lists. Parcertain that he will continue to ents pupils who fail have serve as receiver of the local bank their children report on Thursday for some time, until court matters in which the bank is are settled. The Planters National Bank closhere December 30, 1930 and Mr. Rawlings came here about 15 Auto later from Florida, where he had receiver of bank there. Mr. Pottorff. whom Mr. Rawlings succeeds at Helena. has gone to Paso, Texas take over the the First National Bank there, which closed Thursday with deposits of $13,000,000.00.

16. September 18, 1931 The Clarksdale Press Register Clarksdale, MS

Article from The Clarksdale Press Register, September 18, 1931

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BANK RECEIVER FILES SUIT ON NOTE OF BILBO Explanation of Litigation Is Presented by Counsel for Receiver. BILOXI, Miss., Sept. Rawlings, receiver of the Planters Bank Clarksdale, has filed snit in Federal Court here against Theo Bilbo and Linda Bilbo for $500 on their note to the bank dated Sept. 1926, for year, eight cent interest, with per fees provided in the note. is no part of the note has paid. The case is returnable Feb. Lake Roberson, of Roberson and Cook, law firm, and attorneys Rawlings, receiver of the Planters National Bank here, today verified the reports that the eeiver had sued Governor Theo G. Bilbo and Linda Bilbo in federal court at Biloxi for $500 the amount an unpaid note the local bank. Roberson stated that Gover Bilbo had made the note September, 1926, for one year and not paid the note interest and had made no effort to The declaration of the declares that demands for the payment of the note have been made the defendants have refused Roberson declared that the suit been filed two months ago by his firm.

17. February 4, 1932 The Commercial Appeal Memphis, TN

Article from The Commercial Appeal, February 4, 1932

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DEFENSE SCORES IN HOLLAND TRIAL Loans Made By Banker Were Amply Secured, Witnesses Tell the Court. APPROVED BY EXAMINER $60,000 Loan Made to Mrs. Hol land Rediscounted By Federal Reserve Bank, Receiver For Clarksdale Bank Declares. Special Commercial Appeal CLARKSDALE Feb. The defense in case Holland, charged violation of the scored points in federal court today when they out in cross examination of government witnesses that the loans by the defendamply secured board directors the closed Planters National Bank of which Holland the Holland under federal indictfive counts, charging that he made and Mr. and Mrs. Burt that security and the these loans were made he knew the paper worthless The loans totalled approximately and unpaid the the closed its doors December 1930. Approval Rawlings receiver of the Planter's National, that national bank regular of the institution and that the loans under which the was drawn approved by him according that loaned Mrs. Holland the defendant approved by the Federal Reserve Bank. He ther testifid that the other paper qustion approved by the The defense brought out that the made that Mrs. Holland's valued than was intact and that she had not been involved litigation later wiped ou: The also showthe the loan made Mrs. Holland the owner approximately half the shares of the Planter's Mrs. Holland was forced to turn over her estate to the federal more than year ago after judg. ments against husband and herself filed number eastern banks Capt Schmitt, named Mrs. Holland testified that on when took charge this estate, was worth apdefense claims that with estate this value could improper security in the loan of this amount. Planter Testifies The introduced W Burt, planter fort show that money loaned Burt and his wife irregular and that in order $10,000 loan they were borrow $15,000 and $5,000 to of Oakhurst defendant might derive personal benefit from On Burt testified that Holland told him "that he (Burt) made plenty of and that he give back the but he didn't no harm Under examination. Burt was proposed that the money left the Oakhurst Company and that he did this protect his Burt that far that bank were legitimate and were carried on as regular business Held Deed of Trust. Burt stated that when he attemptto obtain loan from Holland the spring that he owned proximately $25,000 the First Bank that tional the Fidelity Bank Trust Company of Memphis held deed of trust holdings. He said Holland required that secure from these tutions and that the after Holhad trip Gunnison and inspected the Burt was still the witness stand court adjourned o'clock. The government will probably conclude testimony by the be conand cluded time day the court room packed. large part of the was composed women.

18. August 1, 1932 The Atlanta Journal Atlanta, GA

Article from The Atlanta Journal, August 1, 1932

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Bilbo's Dream Home Is Sold at Auction For $500 Judgment Miss. Theo Bilbo's lifedream on his fathhomestead shattered Monday by sheriff's hammer His "dream house" and the 3,000 acres pecans range surround River sold satisfy judgment on $500 note executed in 1928 with Planters National Bank Clarksdale The bank suspended business and the claim tered its receiver. Federal Judge Edwin Holmes auction and Monday sheriff from Grove where the Bilbos lived for many placed the beautiful home years block. Bilbo, stormy petrel of Mispolitics, reared the sissippi his "dream house. After decided build became mansion at Grove and terial donated Although the spent approxi$50,000 the home.