Louisville Home Bank - Louisville, MS

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: October 1, 1930*
Location: Louisville, Mississippi (33.124, -89.055)

Metadata

Model: gpt-5-mini
Short Digest: 08cd6842

Response Measures

None

Description

Article states Louisville Home Bank suspended business after issuing requisitions on Oct 13, 1930; county depository was changed and warrants paid through another bank. No run is mentioned and no reopening is reported; case in April 1931 concerns funds after suspension. Cause of suspension not specified in the article.

Events (1)

1. October 1, 1930* Suspension

Cause Details: Article does not state reason for suspension; only that the bank suspended business before requisitions reached auditor and county depository was changed.
Newspaper Excerpt: Before the requisitions could be presented to the auditor for the issuance of the state's warrant, the Louisville Home bank suspended business.
Source: newspapers

Newspaper Articles (1)

1. April 17, 1931 Clarion-Ledger Jackson, MS

Article from Clarion-Ledger, April 17, 1931

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Article Text

Court Battle Looms Over Winston County Warrant Whether or not a requisition on the state treasury from a county depository, though duly and legally authorized, is valid when the depository suspended business before the requisition cleared through to the state auditor's office, will be decided in court as the result of a petition for mandamus proceedings filed in the Hinds county circuit court yesterday by the Interstate Trust and Banking company of New Orleans, requesting Carl C. White, state auditor, to issue the state's warrant to the plaintiffs in the total sums of $14,480.08, an amount already paid to another bank. The requisitions on the state treasury were legally issued by the county depository of Winston county, as authorized by the chancery clerk of the county, and credited to the amount of the county school fund. The requisitions, two in number, were drawn against the equalizing school fund of Mississippi for the fall of 1930 They were issued by the Louisville Home Bank, county depository, on October 13, 1930. The requisitions came into the hands of the Interstate Trust and Banking company of New Orleans, who credited the Louisville bank with the face amounts of the requisitions. Before the requisitions could be presented to the auditor for the issuance of the state's warrant, the Louisville Home bank suspended business. The county depository was then changed to a Columbus bank, and the county clerk authorized the Columbus bank to issue a requisition on the state treasury for the $14,480.08. Acting upon ruling from the attorney general's office, Auditor White honored the Columbus requisition, and issued the state's warrant for that amount. The Interstate Trust and Banking company, of New Orleans, now files mandamus proceedings against White. and seeks to have the court command him to issue the state's warrants for the amounts, which the auditor says have already been paid through the Columbus bank, the new county depository. The attorney general's office, counsel for the state auditor, yesterday waived issuance and service of process to the suit, and agreed to a hearing before Judge Potter during vacation.