11035. Peoples Bank (Jonestown, MS)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
December 31, 1930
Location
Jonestown, Mississippi (34.322, -90.456)

Metadata

Model
gpt-5-mini
Short Digest
a0164a15

Response Measures

None

Description

Peoples Bank of Jonestown closed its doors on Dec 30/31, 1930 as a protective measure following an incipient run at the affiliated Planters National Bank in Clarksdale. Newspaper accounts list Peoples Bank among banks closed 'to avoid' runs and mention efforts to reopen; no definite confirmation of a permanent failure is given in these articles, so I classify as a suspension with planned reopening (suspension_reopening) but note reopening is not explicitly documented here.

Events (1)
1. December 31, 1930 Suspension
Cause
Local Banks
Cause Details
Closed as a protective measure following steady withdrawals and closure/run at the affiliated Planters National Bank in Clarksdale; closed to protect assets and avoid heavy withdrawals locally.
Newspaper Excerpt
The Peoples Bank at Jonestown ... closed doors yesterday following closure the Planters National Bank
Source
newspapers

Newspaper Articles (5)
1. December 31, 1930 The Vicksburg Post Vicksburg, MS
Article from The Vicksburg Post, December 31, 1930

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Article Text

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.'

2. December 31, 1930 The Clarksdale Press Register Clarksdale, MS
Article from The Clarksdale Press Register, December 31, 1930

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Article Text

the same status as the deposits referred to checking accounts. All efforts being made to open the local banks include the People' Bank of Jonestown and the Progressive State Bank at Tutwiler. The Tutwiler Institution had deposits of approximately $200,000 and a capital stock of $30,000. to Lewis was a humiliating blow to moral theologians, and it no won der that they show certain amount of rancor. As follower of the op position, confess that Pd have been upset bit if the Swedes had given it to Henry Van Dyke, Rob. ert Johnson, Owen Wis ter, Owen Davis, Herman Hagedorn, Augustus Thomas, Robert W. Cham bers some other such academi cian. But the Swedes were well ad vised and so avoided that mistake. They seem to far more humor in them than Dr. Babbitt."

3. December 31, 1930 The Greenwood Commonwealth Greenwood, MS
Article from The Greenwood Commonwealth, December 31, 1930

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Article Text

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.

4. December 31, 1930 The Commercial Appeal Memphis, TN
Article from The Commercial Appeal, December 31, 1930

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Article Text

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

5. January 1, 1931 Evening Star Washington, DC
Article from Evening Star, January 1, 1931

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Article Text

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.