Clanton Bank - Clanton, AL

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: March 11, 1916
Location: Clanton, Alabama (32.839, -86.629)

Metadata

Model: gpt-5-mini
Short Digest: 0782af31

Response Measures

Full suspension, Books examined

Other: State Superintendent of Banks took over affairs; legal action to set aside conveyances to pay depositors.

Description

Articles indicate heavy withdrawals (a run) leading to suspension of payments (suspended March 11, 1916) and eventual takeover by State Superintendent of Banks (taken over April 11, 1916). Sequence: run → suspension → closure/receivership. Bank named without 'National' — treated as a state bank.

Events (3)

1. March 11, 1916 Run

Cause: Rumor Or Misinformation
Cause Details: Recent heavy withdrawals (a depositor run) precipitated the bank's distress; article attributes failure largely to heavy withdrawals.
Measures: None reported in articles prior to suspension.
Newspaper Excerpt: Recent heavy withdrawals from the bank is believed to have been largely responsible for its failure.
Source: newspapers

2. March 11, 1916 Suspension

Cause: Rumor Or Misinformation
Cause Details: Suspension of payments followed heavy withdrawals; the suspension date is given as March 11, 1916.
Newspaper Excerpt: which suspended payment on March 11.
Source: newspapers

3. April 11, 1916 Receivership

Newspaper Excerpt: State Superintendent of Banks Alex E. Walker today took over the affairs of the Clanton bank at Clanton, which failed yesterday.
Source: newspapers

Newspaper Articles (2)

1. April 12, 1916 The Birmingham Age-Herald Birmingham, AL

Article from The Birmingham Age-Herald, April 12, 1916

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Article Text

Clanton Bank Fails Montgomery, April 11.-(Special.) State Superintendent. of Banks Alex E. Walker today took over the affairs of the Clanton bank at Clanton, which failed yesterday. The bank was capitalized at $150,000, with deposits of about $35,000. W. I. Mullins of Clanton was president, and Dr. E. A. Matthews, cashier. Recent heavy withdrawals from the bank is believed to have been largely responsible for its failure. It is not known whether or not the depositors will be protected.

2. April 30, 1916 The Birmingham Age-Herald Birmingham, AL

Article from The Birmingham Age-Herald, April 30, 1916

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Article Text

SEEK SETTLEMENT OF BANK'S AFFAIRS Clanton, April 29.-(Special.)-There was a ripple of excitement here this morning when the state banking department. through its attorneys, William M. Adams of Clanton and Steiner, Crum & Weil of Montgomery, filed a bill to set aside certain conveyances which would stand in the way of the payment of the depositors of the Clanton bank, which suspended payment on March 11. The following residents were made parties to the bill: E. A. Matthews, W. I. Mullins, W. Rv Sartor, P. D. Wilson, N. A. Kicker, Belle J. Matthewys, G. B. Wimberley, M. B. Sartor, J. P. Crumpton, Lillian Joseph Matthews, Samuel Curry Matthews and Mary E. Matthews, non-resident. The bill sets out that the several subscribers are liable to said bank for all of the unpaid 70 per cent of the subscriptions, and asks that they be required to pay the same.