11051. Maben Home Bank (Maben, MS)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
January 12, 1931
Location
Maben, Mississippi (33.555, -89.085)

Metadata

Model
gpt-5-mini
Short Digest
375cbfe2

Response Measures

Full suspension

Description

Newspapers (Jan 12–13, 1931) report heavy withdrawals/unfounded rumors leading the Maben Home Bank to fail to open (suspend) on Jan 12. The articles attribute the closing to withdrawals/rumors. No reopening is mentioned; classified as run -> suspension -> closure (permanent) given available reports.

Events (2)

1. January 12, 1931 Run
Cause
Rumor Or Misinformation
Cause Details
Heavy withdrawals triggered by unfounded rumors about the bank, prompting depositors to withdraw funds.
Measures
None reported prior to suspension beyond deposit withdrawals
Newspaper Excerpt
The closings were ascribed to heavy withdrawals.
Source
newspapers
2. January 12, 1931 Suspension
Cause
Rumor Or Misinformation
Cause Details
Bank failed to open for business after withdrawals caused by unfounded rumors; state banking department announced the failure to open.
Newspaper Excerpt
The Maben Home Bank of Maben failed to open this morning.
Source
newspapers

Newspaper Articles (2)

Article from Hartford Courant, January 13, 1931

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Article Text

Three More Banks Close in Mississippi Jackson, Miss, Jan. The state banking announced today that the First National Bank of Brookhaven. the Citizens Bank Sturgis and the Maben Home Bank of Maben failed to open this morning. The banks had deposits totaling approximately $2,400,000. The closings were ascribed to heavy withdrawals.


Article from Chattanooga Daily Times, January 13, 1931

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Article Text

STOCK MARKET (New York Stock Exchange.) By the Associated Press. Dry Goods. NEW YORK. goods the quiet. The December tistical report the was price drastic week. Stocks rivals here orders ward. Burlaps showed little change. Memphis Cottonseed. and Cottonseed Closing March. $26 $27 August, Bank Suspensions. JACKSON, Miss., Jan 12 Two state banks and one national bank with combined deposits of more than failed to open for business Mississippi today state banking department announced These banks were First National bank Brookhaven: Citizens bank. of Sturgis, and Maben Home bank, of The First National of Brookhaven deposits of $1,115,145 as of carried Capital stock was listed at $100,000 and surplus, notice posted on the door of the bank read "Due to unfounded rumors which resulted in withdrawals of deposits, our belief that the interests of all depositors would best be protected by the discontinuance of all business and the comptroller The Bank of Sturgis had capital of $10,000. surplus of $4,000 and deposits of $75,000. The Maben Home bank carried deposits of capital of $15,000 and surplus of $10,000. Aren't you going to wait up for father? Mother- What's the use? I've got such a cold can hardly speak. STOCKS Sales High Low Close MARKETS Pullman 56 AT A GLANCE Punta Pure Purity Bak NEW YORK, Jan. 12 (AP).Corp Stocks-Weak; investment Following Keith Orp rails lead decline. is today's Railroad Sec B d Heavy; investSTOCKS Raybestos Man Sales High Close on the New York Stock Exchange: ments sag in dull session. Silk Rand Gen Asphalt 28 Curb-Heavy; small losses Sales High Low Close in light trading. Metals Foreign Exchanges-Easy: 11% Adams Express Advance Rume peseta sag. Ahumada Lead Oil Cotton-Easy; unfavorable Royal trade advices. Easy; increased spot offerings. Coffee Higher; better Brazilian markets. CHICAGO: Refract Wheat-Firm: insufficient rain southwest; decreased stocks afloat. Corn Firm: unfavorable Theater weather; decreased visible supply. to lower. Hogs-Higher. CURB DRIVEN DOWN BY PROFESSIONALS Hahn Dept Selling Attacks Depress Prices, but Declines Are Most. ly Slight. NEW YORK Jan. 12 ProfesBoat sional selling brought lower prices the curb market today, but except in Motor the oils and some specialties net deCentral were of little consequence. Utillties traveled narrow path and finished with small losses Sales totaled only 380,900 shares. Rand Late heaviness of the oils on the big board, coincident with the estimate of Texas corporation's 1930 earnings. spread to the petroleum shares on the junior exchange Gulf developed considerable and closed more Carrier than 4 points lower, while Vacuum lost and Humble Cities Standard of Indiana eased Mispfd souri-Kansas weak all day in reCity flection of the petition for a receivership, ended the session at 5½, off Elliott Electric Bond and Share was the only utility to suffer more than nominally from the steady pressure applied to the general list throughout the dull session Aircraft The leader of the utility division opened Dept steady, but sagged thereafter and lost point net. Declines in United Light, United Gas, American Superpower, Niagara Hudson and American Gas Rudolf amounted to less than half a point on Spring the Miscellaneous issues dropping to 2 Stores points included Corroon & Reynolds Cop preferred, Newmont Mining. Niles BeExpress ment Pond, Deere Air Express and Ford of Canada A. The met profit- from Sa Grocery day's rally. Ltd., however, held firm. There was little activity in the investment Following is a partial list of transactions on the New York Curb Exchange Myers pfd STOCKS Sales High Low Olose Liquid Carb Com Pack Calumet Ariz Calumet Hecla Canada Canad Gas Adm Ry Gas Caterpillar 500 Mack Trucks Ridge cvt Co Wireless Oil Comwith Dairy Balt 700 Oil Durant Motor Co Ford Mot Woolworth Fox Theater pfd Mohawk B Montgom Goldman Sachs Zenith Radio Tr Total today Imp week Internat Leonard Lone Marconi Int Mar Ch Mountain Prod Nat Avia Diam Fiber Newmont Min Bros Cop Del Mines Shares Pennroad Corp Prod Harlem Prudential Invest Zeller St Regis Paper Fruits and Am Am nDom Sugar Swift extra 2.40 Curtis Am Trans Lux D Pic A 100 7% 7% 2.65 Northern Pacific at 56-64-72 Dry extra Ohio Power United Stores Ham fancy all sizes Sec Vacuum Oil 2.200 fancy in bushels bushels Glass barrels El Naval Stores. fancy fruit Jan. TurpenMines sales. baskets fancy. 90- Tran extra 2.65 du Nem fancy Eastern Pears. fancy. 100-110extra Pears. extra fancy Pineapples. 30-36s Lemons 432s Drug Metal Market 96s Stor Oranges 126 to 216 size NEW YORK. 12 Oranges Emerson and future. bushels Endicott Ir bushels eastern bulk. in tubs Buffalo. $15.50@ dozen Clean Eureka $25 fu20 lbs. ture $26 Flour 50 Fairbanks East spot New $4.75 Mor Carrots. (Florida) 30 lbs. East St. spot and fu(Florida) crates 180s Peppers. Quicksilver green Spinach (Texas). in bushels Wheel Rice. bushels Foster green. per lbs. NEW Rough rice. Cabbage per 100 lbs. Freeport Tex Rose. bags second 162; reGardner Motor Celery per ceipts, 3,417. Lettuce. Lettuce, 4-5 dozen crates per dozen