11162. Progressive State Bank (Tutwiler, MS)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
December 31, 1930
Location
Tutwiler, Mississippi (34.015, -90.432)

Metadata

Model
gpt-5-mini
Short Digest
22e7d2cc

Response Measures

None

Description

Progressive State Bank (Tutwiler, MS) closed its doors on/around 1930-12-31 as a protective suspension following an incipient run at the affiliated Planters National Bank in Clarksdale. Contemporary articles describe efforts to reopen the allied banks, so I classify this as a suspension with attempts to reopen (suspension_reopening).

Events (1)
1. December 31, 1930 Suspension
Cause
Local Banks
Cause Details
Closed as a protective measure following steady withdrawals/run at the affiliated Planters National Bank in Clarksdale; closed to protect assets pending examiners' visits.
Newspaper Excerpt
The Jonestown and Tutwiler banks were controlled by the Planters National Bank... The People's Bank at Jonestown and Progressive State Bank Tutwiler closed doors yesterday following closure the Planters National Bank and Allied Bank here.
Source
newspapers

Newspaper Articles (4)
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. 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.