Peoples Bank - Water Valley, MS

Bank Information

Episode Type: Run → Suspension → Reopening
Bank Type: state
Start Date: December 31, 1930
Location: Water Valley, Mississippi (34.151, -89.631)

Metadata

Model: gpt-5-mini
Short Digest: 975ae9ac

Response Measures

Full suspension

Description

OCR-corrected text. Article (Greenwood Commonwealth, 1931-01-10) says a New Year's Eve 'joke' started a rumor that precipitated a run on Peoples Bank, the bank suspended to protect depositors, and was expected to re-open about Feb 1, 1931. Classified as run → suspension → reopening. Bank type not specified in text.

Events (3)

1. December 31, 1930 Run

Cause: Rumor Or Misinformation
Cause Details: A New Year's Eve joke started a false rumor that the bank had closed, precipitating withdrawals.
Random Run: Yes
Random Run Snippet: New Year's Eve joke started false rumor bank had closed
Measures: Bank suspended operations (closure) to protect depositors.
Newspaper Excerpt: NEW YEAR'S EVE JOKE SAID TO STARTED RUMOR ... run was precipitated.
Source: newspapers

2. January 1, 1931 Suspension

Cause: Rumor Or Misinformation
Cause Details: Bank suspended to protect depositors after run caused by the false New Year's Eve joke/rumor.
Newspaper Excerpt: the Bank Bruce, recently suspended in order to protect depositors ... the closing of the Peoples bank
Source: newspapers

3. February 1, 1931 Reopening

Newspaper Excerpt: Peoples Bank of Water Valley its doors about the first February, was said here today ... expected reopen within the next few days.
Source: newspapers

Newspaper Articles (1)

1. January 10, 1931 The Greenwood Commonwealth Greenwood, MS

Article from The Greenwood Commonwealth, January 10, 1931

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Article Text

NEW YEAR'S EVE JOKE SAID TO STARTED RUMOR WATESR for re-opening Peoples, bank, Water Valley, and the Bank Bruce, recently suspended in order to protect depositors, said underway banks are expected reopen within the next few days. Peoples Bank of Water Valley its doors about the first February, was said here today, while the Bank of Bruce expected to reopen within next few weeks. The Bruce Bank said perfectly solvent, and its closure was entirely measure. careless to have the closing of the People bank of this city. "town remarked on the street here New Year's day that the banks in town closof course, for the holiday. The idle "joke" however spread to outlying sections true statement fact, and run was precipitated.