Bank of Gulfport - Gulfport, MS

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 1, 1930*
Location: Gulfport, Mississippi (30.367, -89.093)

Metadata

Model: gpt-5-mini
Short Digest: 821a10da

Response Measures

None

Description

OCR errors in the clipping; article (Mar 14, 1931) reports the Bank of Gulfport had closed and its officers turned affairs over the State banking department last December. No run or depositor agitation is described. Closure appears to be by state banking authorities (government action).

Events (1)

1. December 1, 1930* Suspension

Cause: Government Action
Cause Details: Bank officers turned the bank's affairs over to the State banking department in December (closure/suspension by state authorities).
Newspaper Excerpt: turned affairs over the State banking department last December
Source: newspapers

Newspaper Articles (1)

1. March 14, 1931 Weekly Town Talk Alexandria, LA

Article from Weekly Town Talk, March 14, 1931

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Article Text

$152,500 ALLOTTED FOR RED RIVER WORK War Department Announces Fund Improvement Below Fulton, Ark., Now Available. WASHINGTON March of $52,819,245 for river and harb in all parts the country today by the Was The made $50,696.11 from the $60,000,000 for and harbors for the present fiscal The will the appropriation The Missouri received largest single with $6. 149,800 for from Kansas City the Thus far during the fiscal year, with the allo allotments total $13,385,000 "These allotments provide for the De said will aid mate rially in the further relief of unem The allotted to Mississipp cluded an item $565,000 the northern bound St Louis and the illinois and $33,685 for the Illinois and the in addi tion the Kansas City the mouth. $910,000 was allotted for work from Kansas City to Sioux City In addition $590.200 was drawn previously unallocated funds available the $22,500,000 emergency for employment relief passed by the The allotments included: Red river below Fulton, Ark. Pensacola Harbor, Florida. Intra-coastal waterway. PensaFla. to Mobile Bay, Ala., $200.Examinations, surveys and contengencies Montgomery Mobile harbor Alabama, $300.000. Black Tomfrom Demopolis. to Walkers Bridge, Miss. $2,- Gulfport Ship Island (general), Mobile district. Southwest Pass. Mississippi river Mississippi between Baton Rouge and New Orleans. Louisiana, Bayou Terrebonne, Louisiana $60.Bayou Grosse Tate, Louisiana, $6,Louisiana terway (New river section) $969,000. Examinations, surveys and contin- Former Governor Calls Indictment "Mistake, Politics" NEW ORLEANS March being advised among three former officials of closed Bank dicted the grand Gulfport last today the culty whole thing is ridiculous," Mr. Russell that goes action that has taken against the other officers the Mr. Russell now practicing officials revealed yesterday along with attorney of Shaw, Miss., and Donald Allen, former Baptist minister who officers the bank at the time closed and turned affairs over the State banking department last December Frozen loans" given as the the The indictments. dispatches from Gulfport. alleged that deposits accepted that the bank Russell of Mississippi from to 1924 gencies (general), New Orleans district. $10,000. Removal water Louisi Quachita Black Arkansas Louisiana, $100,000. Examinations, surveys and contingencies (general), New Orleans Texas river and Bayou Louisiana, Bayous D'Arbonne and Yazoo river, Mississippi, $20,000.