11233. Bank of Valley City (Valley City, ND)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
state
Start Date
November 30, 1923
Location
Valley City, North Dakota (46.923, -98.003)

Metadata

Model
gpt-5-mini
Short Digest
4e1f334543c04d0f

Response Measures

None

Description

Contemporary articles (Dec 1 and Dec 5, 1923) describe a run on the Bank of Valley City caused by rumors of a sale, the bank's suspension (closed Nov. 30 / reported Dec. 1) for reorganization, and its reopening Dec. 4, 1923. OCR corrections: 'Semingson' likely a proper name in article but not relevant. No evidence of permanent closure or receivership.

Events (3)
1. November 30, 1923 Run
Cause
Rumor Or Misinformation
Cause Details
Rumors that the bank was planning to sell out / consolidation news spread and caused withdrawals.
Measures
Closed temporarily to give time for reorganization (directors' action).
Newspaper Excerpt
Efforts have been made in the past two weeks to consolidate with another bank and news of this spread, which caused a run on the institution.
Source
newspapers
2. November 30, 1923 Suspension
Cause
Rumor Or Misinformation
Cause Details
Run triggered by rumors of consolidation/sale led directors to close temporarily and suspend operations while reorganizing.
Newspaper Excerpt
The Bank of Valley City did not open its doors for business yesterday following action by the directors the night previous.
Source
newspapers
3. December 4, 1923 Reopening
Newspaper Excerpt
Reorganization of the institution enabled the Bank of Valley City, which was suspended a few days ago, to reopen yesterday.
Source
newspapers

Newspaper Articles (3)
1. December 1, 1923 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, December 1, 1923

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Article Text

BANK WILL BE REOPENED Valley City, Dec. 1-The Bank of Valley City did not open its doors for business yesterday following action by the directors the night previous. Efforts have been made in the past two weeks to consolidate with another bank and news of this spread, which caused a run on the institution. The bank is closed temporarily only to give time for reorganization, officers said.

2. December 1, 1923 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, December 1, 1923

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Article Text

BANK SUSPENDS Whether Bank of Valley City, reported to have suspended yesterday, will be closed, reorganized or go under supervision of Guaranty Fund Commission is not known, it was stated at state banking department today. No official information had reached office concerning bank's action, it was said, and in absence of State Examiner Semingson, who is in St. Paul, no statement will be made from his office.

3. December 5, 1923 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, December 5, 1923

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Article Text

VALLEY CITY BANK REOPENED Valley City, N. D., Dec. 5.-Reorganization of the institution, enabled the Bank of Valley City, which was suspended a few days ago, to reopen yesterday. The bank closed Nov. 30 after, officials said, a run on the*bank was caused by rumors that the bank was planning to sell out.