11609. Bank of Andrews (Andrews, NC)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
state
Start Date
March 11, 1914
Location
Andrews, North Carolina (35.202, -83.824)

Metadata

Model
gpt-5-mini
Short Digest
b0c82958

Response Measures

Full suspension

Other: Bank closed doors to avoid withdrawals after run; planned temporary closure for ~20 days.

Description

Articles state depositors made a run on the Bank of Andrews after the Commercial and Savings Bank at Murphy closed; the Bank of Andrews closed its doors (suspension) to avoid withdrawals and was announced will reopen within ~20 days. Dates derived from publication (Mar 12, 1914): closure occurred Wednesday (Mar 11, 1914).

Events (3)
1. March 11, 1914 Run
Cause
Local Banks
Cause Details
Depositors lost confidence after the Commercial and Savings Bank at Murphy closed, prompting withdrawals at the Bank of Andrews.
Measures
Bank management closed the doors and did not permit withdrawals to stop the run.
Newspaper Excerpt
The closing of the Smathers banks was the result of the lack of confidence on the part of the depositors, who made a run on the banks.
Source
newspapers
2. March 11, 1914 Suspension
Cause
Local Banks
Cause Details
Closed to avoid the possibility of a run resulting from the closing of the Commercial and Savings Bank at Murphy.
Newspaper Excerpt
When the banks' management realized that depositors were going to withdraw funds, the doors were closed and none were permitted to withdraw.
Source
newspapers
3. April 1, 1914* Reopening
Newspaper Excerpt
Announcement was made yesterday to the effect that the Bank of Andrews, which closed its doors Wednesday, will be opened within the next twenty days.
Source
newspapers

Newspaper Articles (3)
1. March 6, 1914 The Richmond Virginian Richmond, VA
Article from The Richmond Virginian, March 6, 1914

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Article Text

IN U.S. CIRCUIT COURT The United States Circuit Court of Appeals yesterday, with Circuit Judges Prichard, Knapp and Woods, and District Judge Dayton in attendance, heard argued case No. 1244. Paris Jarrell et al., appellants, vs. James C. Cole and Clinton Crane, appellees; appeal from the District court at Charleston, W. Va. Argued by John E. Blake, Madison, W. Va., for the appellants, and by Cary N. Davis, Huntington, W. Va., for the appellees, and submitted. Case in call today: No. 1251. Bank of Andrews and A. A. Fain, receiver, petitioner, vs. Vonno L. Gudger, receiver, respondent: on petition to superintend and revise, District Court of the United States for the Western district of North Carolina, at Asheville, In bankruptcy. To be argued by James H. Herrimon, Asheville, N. C., for the petitioners, and by Alf S. Bernard, Stevens & Anderson, Asheville, N. C., and W. D. Payne, Charleston, W. Va., for the respondent.

2. March 6, 1914 The Times Dispatch Richmond, VA
Article from The Times Dispatch, March 6, 1914

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Article Text

U. S. Circuit Court of Appeals. The United States Circuit Court of Appeals reconvened yesterday morning at 10 o'clock with Circuit Judges Pritchard, Knapp and Woods and District Judge Dayton in at tendance. Case argued: No. 1244-Paris Jarrell et al., appellants. vs. James O. Cole and Clinton Crane. appellees: appeal from the District Court at Charleston, W. Va. Argued by John E. Blake, Madison. W. Va., for the appellants, and by Cary N. Davis. Huntington, W. Va., for the appellees. and submitted. Case In call: No. 1251-Bank of Andrews and A. A. Fain, receiver, petitioner, vs. Veno L. Gudger, receiver. respondent: on petition to superintend and revise. District Court of the United States for the Western District of North Carolina. at Asheville; in bankruptcy. To be argued by James H. Merrimon, Asheville. N. C., for the petitioners, and by Alf S. Barnard, Stevens & Anderson, Asheville, N. C., and W. D. Payne, Charleston, W. Va., for the respondent.

3. March 12, 1914 Western Carolina Democrat and French Broad Hustler Hendersonville, NC
Article from Western Carolina Democrat and French Broad Hustler, March 12, 1914

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Article Text

CHEROKEE BANKS CLOSE. The Commercial and Savings bank at Murphy closed its doors Tuesday and on Wednesday the Bank of Andrews followed the same course. These two banks were known as the Smathers banks and were practically under the same management, J L. Smathers being president of both. It is generally believed here that the depositors in neither bank will lose anything. The stockholders may suffer a slight loss. The closing of the Smathers banks was the result of the lack of confidence on the part of the depositors, who made a run on the banks. When the banks' management realized that depositors were going to withdraw funds, the doors were closed and none were permitted to withdraw.-Bryson City Times. Announcement was made yesterday to the effect that the Bank of Andrews, which closed its doors Wednesday, will be opened within the next twenty days. It is stated that the board of directors deemed it advisable to close the institution for a term of twenty days to avoid the possibilityof a run which might result from the closing of the Commercial and Savings Bank at Murphy.-Asheville Citizen.