11628. Bank of Aulander (Aulander, NC)

Bank Information

Episode Type: Run → Suspension → Unsure
Bank Type: state
Start Date: December 16, 1930
Location: Aulander, North Carolina (36.230, -77.114)

Metadata

Model: gpt-5-mini
Short Digest: 92e65064

Response Measures

Full suspension

Description

Multiple newspapers (Dec 16–18, 1930) report the Bank of Aulander 'did not open' / 'failed to open' after a slow but steady run driven by a groundless report and unfounded rumors.' Articles do not state a reopening or receivership, so the final disposition is unclear; classification chosen as run_suspension_unsure.

Events (2)

1. December 16, 1930 Run

Cause: Rumor Or Misinformation
Cause Details: Slow but steady withdrawals sparked by a 'groundless report' circulated the prior Friday and general fears after nearby bank crashes.
Measures: Bank failed to open (suspended payments); did not open doors Tuesday.
Newspaper Excerpt: Aulander ... failed to open its doors Tuesday morning following slow but steady run on it by depositors whose fears had been aroused by recent bank crashes in Pitt County. A groundless report circulated last Friday ...
Source: newspapers

2. December 16, 1930 Suspension

Cause: Rumor Or Misinformation
Cause Details: Bank closed its doors (failed to open) after withdrawals driven by unfounded rumors and a circulated groundless report; attempted to conserve cash by not opening.
Newspaper Excerpt: It Was in Better Shape Than in Two Years But Could Not Pay Out the Cash. UNFOUNDED RUMORS BRING ON CLOSING ... the Bank of Aulander failed to open its doors Tuesday morning
Source: newspapers

Newspaper Articles (10)

1. December 16, 1930 The Muskegon Chronicle Muskegon, MI

Article from The Muskegon Chronicle, December 16, 1930

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Wall Street Briefs New York, Dec. of steel rails in the Chicago district has increased to 50 per cent of rated against 40 per cent previously, Dow, Jones & says. Stocks of refined lead in the United States at the end of November showed an increase over October, although November refinery production was under that of the previous month Stocks at the end of totaled tons, against 84,375 in October, the American Bureau of Metal Statisties reports. Total refinery production of lead in the United States in November was 48,988 short tons, against 55 369 in October and 53,237 in September. Approximately 20 organizations have bonus distributions to employes. The latest to announce such action include the National Metal Exchange, two weeks' salary to employes; 10 Operating Bureau, Inc. which manages the loan offices the Beneficial Industrial Loan Corp., weeks' salary employes; and National Real Estate Corp. the Christmas bonus to all employes. Chicago, Dec. (U.S.D.A.) Potatoes 64: on track 167; total U. shipments 448: trading rather slow: sacked per cwt., Wisconsin Round Whites few Round Whites 40; Idaho Russets No. No. Colorado Brown Beauties 1.60; McClures unbranded 1.60-1.65. Charlotte, N. C., Dec. 16-(P)Eleven banks North Carolina closed their doors today. Runs were blamed. Four banks in Gaston county four in the Asheville area western North Carolina, one in Cleveland county, one in Johnston county and one in Bertie county shut their doors. The First National bank of Gastonia was the largest the eleven, with deposits og $3,066,072 on Sep24. The Peoples bank of Waco in Clevecounty, with capital of and resources of $111,338.26 shut its The Clayton Banking company of Clayton, $75,000 of did not open. The Bank of Aulander, in Bertie county, with capital $80,125 and resources of $385,896.95, also did The other three Gaston banks, the Gaston Loan and Trust company of Gastonia, the Bank of Dallas, and the People's Bank of West Gastonia, comparatively small institutions. combined deposits totaled $270,Closing of the Bank of Franklin, in Macon county. that town without financial institution. The bank's deposits were listed at $416,800. The Citizens' bank, which merged with the Franklin last had deposits of $125,000. The Bank of with deof $182,000, and the Bank Clyde, with deposits of $105,000, failed to open later withstanding runs westerday. The Bank of Fletcher, in Hendercounty, closed in after an hour and half. Its deposits were listed at $103,500. S. C. Bank Is Closed York, S. Dec. Bank of Clover, York county closed it's today Lee Robinson, president of the First National bank of Gastonia, which failed to open this morning, also president of the Clover institution. The bank had resources of about $650,000. Utah Bank Closes Salt Lake Utah, Dec. The Columbia Trust company of this city was placed in the hands of the banking department today. Frank B. Cook, president of the institution, said the board of directors requested the closing "in order to protect all depositors without preferThe bank is not insolvent, having 20 per cent reserve at the close Monday, and it is the opinion of the board that every depositor be paid in full,' Cook said. "Total are $718,544.24. Total assets are $1,175,590.93.' W. Va. Bank Closed. Charleston, W. Dec. The state department of banking today the of the Bank of Hillsboro in county. The said the bank was closed Friday "to conserve assets" and that negotiations for taking over the were being by the bank of Marlinton. Bank at Fairmont, W. Va., Closes Fairmont, Dec. The Union of Fairclosed its doors benoon today. Inability to liquiassets rapidly enough to meet demands for was given as the cause for the closing. pfd

2. December 16, 1930 The Evening Sun Baltimore, MD

Article from The Evening Sun, December 16, 1930

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WEST FAILURES North Carolina Hardest Hit, With Eleven Institutions Closing Doors Charlotte, banks in North Carolina closed their doors today. Four banks in Gaston county, four the Asheville area of western North Carolina, one in Cleveland Johnston county and one in Bertie county shut their doors. The First National Bank Gastonia the largest of the eleven with posits of $3,066,072.11 September 24. Waco Bank Shuts Doors The Peoples Bank Waco, Cleveland county, with capital and resources of shut its doors. The Clayton Banking Company, Clayton, capitalized $75,000 and with resources did The Bank of Aulander, in Bertie county, with capital of and sources of also did open. The other three Gaston banks, the Gaston Loan and Trust Company, the Bank of Dallas the Peoples Bank of West Gastonia, small The deposits totaled $270,052.84 Closing of the bank of Franklin, Macon county, left that town without financial institution. The bank's its were listed $416,800. The CitiBank, which merged with the Franklin last month, had deposits $125,000. The bank of Swannanoa, with posits of $182,000 and the bank with deposits failed open runs yesterThe bank of Fletcher, in Henderson county, closed the face of heavy after open hour and half. Its deposits listed South Carolina Bank Closed York, Dec. Bank Clover, York county, closed Lee Robinson, president of the First National Bank Gastonia, which failed open this morning, also president of the Clover instituThe bank had resources of about $650,000. Closure In Salt Lake City Salt Lake City, Dec. The Columbia Trust Company of this city placed the hands of the State Banking Department today. Frank B. Cook, president of the institution. said the board of quested the closing order to protect bank not insolvent, twenty the business Monday, and the opinion the board that every depositor will paid Cook said. posits assets West Virginia Bank Closed The State Department of announced closing of the Bank Hillsboro, Pocahontas county. The said the bank Friday and that for taking institution were being made Bank of Marlinton. The Bank of Hillsboro 24 had capital stock resources and deposits totaled $127,746.

3. December 16, 1930 The Herald Rock Hill, SC

Article from The Herald, December 16, 1930

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The Peoples Bank of Waco, in Cleveland county. N. C., with a capital of $5,000 and resources of $111,338.26. shut its doors today The Clayton Banking Co., of Clayton, capitalized at $75,000 and with resources of $393,731.36 did not open. Clayton is in Johnston county The bank of Aulander, in Bertie county, with capital of $80,125 and resources of $385,896.95, also did not open. Bank Of Clover Fails To Open (By Herald Correspondent) York, Dec. 16.-The Bank of Clover, capitalized at $30,000 and with assets totaling $552,848. according to its last statement of condition, failed to open its doors this morning. A notice posted on the door stated this step was tak en for protection of depositors. The closing of the Bank of Clover followed the failure of the First National Bank of Gastonia, N. C., both institutions having the same president, J. Lee Robinson. Persons in a position to know what they are talking about expressed the opinion that the Bank of Clover is solvent and that its closing would be only temporary S. A Sifford. of Clover, is vice president and A. M. Suggs is cashier. Deposits, according to the state-

4. December 17, 1930 The Cincinnati Enquirer Cincinnati, OH

Article from The Cincinnati Enquirer, December 17, 1930

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ELEVEN BANKS SUSPEND. North Carolina Institutions In Five Charlotte, N. C., December 16banks in North Carolina closed their doors today. Four banks in Gaston County, four in the Asheville area of Western North Carolina, one in Cleveland County, one in Johnston County and one in Bertie County shut their doors. The First National Bank of Gastonia was the largest of the 11, with deposits of $3,066,072 on September 24. The Peoples Bank of Waco in Cleveland County, with capital of $5,000 and resources of $111,338.26 shut its doors. The Clayton Banking Company of Clayton, capitalized at $75,000 and with resources of $393,731.36, did not open. The Bank of Auhlander, in Bertie County, with capital of $80,125 and resources of $385,896.95, also did not open. The other three Gaston banks, the Gaston Loan and Trust Company, of Gastonia, the Bank of Dallas, and the Peoples Bank of West Gastonia were comparatively small institutions. The combined deposits totaled $270,502.84. Closing of the Bank of Franklin, in Macon County, left that town without a financial institution. The bank's deposits were listed at $416,800. The Citizens Bank, which merged with the Franklin last month, had deposof $125,000. The Bank of Swannanoa with deposits of $182,000 and the Bank of Clyde, with deposits of $105,000 failed to open after withstanding runs yesterday. The Bank of Fletcher, in Henderson County, closed in the face of heavy withdrawals after remaining open an hour and a half. Its deposits were listed at $103,500.

5. December 17, 1930 The Cincinnati Enquirer Cincinnati, OH

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ELEVEN BANKS SUSPEND. "North Carolina Institutions In Five Areas Are Closed. Charlotte, N. C., December 16-(AP)-Eleven banks in North Carolina closed their doors today. Four banks in Gaston County, four in the Asheville area of Western North Carolina, one in Cleveland County, one in Johnston County and one in Bertie County shut their doors. The First National Bank of Gastonia was the largest of the 11, with deposits of $3,066,072 on September 24. The Peoples Bank of Waco in Cleveland County, with capital of $5,000 and resources of $111,338.26 shut its doors. The Clayton Banking Company of Clayton, capitalized at $75,000 and with resources of $393,731.36, did not open. The Bank of Auhlander. in Bertie County, with capital of $80,125 and resources of $385,896.95, also did not open. The other three Gaston banks, the Gaston Loan and Trust Company, of Gastonia, the Bank of Dallas, and the Peoples Bank of West Gastonia were comparatively small institutions. The combined deposits totaled $270,502.84. Closing of the Bank of Franklin, in Macon County, that town withfinancial institution. The bank's deposits were listed at $416,800. The Citizens Bank, which merged with the Franklin last month, had deposits of $125,000. The Bank of Swannanoa with deposits of $182,000 and the Bank of Clyde, with deposits of $105,000 failed to open after withstanding runs yesterday. The Bank of Fletcher, in Henderson County, closed in the face of heavy withdrawals after remaining open an hour and half. Its deposits were listed at $103,500.

6. December 17, 1930 The Cincinnati Enquirer Cincinnati, OH

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ELEVEN BANKS SUSPEND. North Carolina Institutions In Five Areas Are Closed. Charlotte, N. C., December 16banks in North Carolina closed their doors today. Four banks in Gaston County, four in the Asheville area of Western North Carolina, one in Cleveland County, one in Johnston County and one in Bertie County shut their doors. The First National Bank of Gastonia was the largest of the 11, with deposits of $3,066,072 on September 24. The Peoples Bank of Waco in Cleveland County, with a capital of of $111,338.26 $5,000 and resources shut its doors The Clayton Banking Company of Clayton, capitalized at $75,000 and with resources of $393,731.36, did not open. The Bank of Auhlander, in Bertie County, with capital of $80,125 and resources of $385,896.95, also did not open. The other three Gaston banks, the Gaston Loan and Trust Company, of Gastonia, the Bank of Dallas, and the Peoples Bank of West Gastonia were comparatively small institutions. The combined deposits totaled $270,502.84. Closing of the Bank of Franklin, in Macon County, that town without financial institution. The bank's deposits were listed at $416,800. The Citizens Bank, which merged with the Franklin last month, had deposof $125,000. The Bank of Swannanoa with deposits of $182,000 and the Bank of Clyde, with deposits of $105,000 failed to open after withstanding runs yesterday. The Bank of Fletcher, in Henderson County, closed in the face of heavy withdra wals after remaining open an hour and half. Its deposits were listed at $103,500.

7. December 17, 1930 Chicago Tribune Chicago, IL

Article from Chicago Tribune, December 17, 1930

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11 MORE BANKS CLOSE DOORS IN NORTH CAROLINA Two More Shutdowns in Rural Illinois. Charlotte, C., Dec. in Eleven banks in North Carolina closed their doors today. Four banks in Gaston four the Asheville area of western North Carolina, one in one in and one in Bertie shut doors county First National bank of The was the largest of the with of $3,066,072 on Sept. 24. The Peoples bank of in with capital of $5,000 and resources of $111,338, shut its doors. The Clayton Banking company of capitalized $75,000 and with resources of did not The Bank of Aulander capital of $80,125 and of also did not resources open. Three Small Banks Close. The other three banks, the Gaston Loan and Trust of the Bank of Dallas, and the Peoples bank of West Gastonia comparatively small totaled Closing of the Bank of Franklin, Macon left that town in out financial The a were listed at The deposits Citizens' bank, which merged with the Franklin last month, had deposits of Bank of Swannanoa, with of and the Bank of posits with deposits of failed to after withstanding runs The Bank of Henderson closed in the of heavy remaining open an hour and half. Its deposits were listed at $103,500. Two in South Carolina. S. Bank of York county, closed its doors Lee president the First National bank of Gastonia, failed to this is open president of the Clover tion. The bank had resources of about Golconda Bank Closes. of the Pope County State bank at Golconda for examination and adjustment announced today by State Auditor The bank capitalized at The first of this the had total deposits of $314,216.41. Loans totaled $244,286.79. Another Illinois Bank. a heavy run last week the First National bank of Kansas, this morning failed to open its doors for business. The bank was capitalized at $50,000. Kentucky Bank Reopens. Ky., Dec. (AP) The Farmers bank, which closed here Nov. 26 because of heavy withdrawals, opened today with approval of the state banking department. Depositors have agreed to a deferred payment plan to conserve assets but Christmas savings will be distributed immediate ly. The bank has deposits of W. Virginia Bank Closes. Charleston, W. Va., Dec. The state department of banking today the closing of the Bank of Hillsboro, in Pocahontas county. The bank on Sept. 24 had capital stock of $25,000. Its resources were $205,748.72 and its deposits totaled $127,746. And Another. Fairmount, W. Va., Dec. The Union National Bank of Fairmount closed its doors today. Inability liquidate assets rapidly enough to meet demands for withdrawals was given as the cause for the closing. One in Nebraska. Lincoln, Neb., Dec. closing of the State Bank of Niobrara, at Niobrara, Neb., today was nounced here by the state department of trade and commerce. The bank had deposits of approximately $275,000. One in Salt Lake. Salt Lake City, Utah, The Columbia Trust company of this city was placed in the hands of the state today. Frank said: bank is not insolvent, having 20 per cent reserve at the close of business and it is the opinion of the board that every depositor will be paid Total deposits Total assets are $1,175,590.98." SAVED FROM DEATH BY James from at kidnaped by about shoot when other

8. December 17, 1930 The Atlanta Constitution Atlanta, GA

Article from The Atlanta Constitution, December 17, 1930

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Bond Dealings on New York Stock Exchange ELEVEN BANKS CLOSE IN NORTH CAROLINA High prices Stock Western CHARLOTTE, N. C., Dec. 16.Close. (AP) Eleven banks in North Carolina closed their doors today. Four banks in Gaston county, four in the Asheville area of western North Carolina. one in Cleveland 100 county, one in Johnston county, and one in Bertie county shut their doors. FOREIGN BONDS. CORPORATION The First National Bank of GasManati tonia was the largest of the 11, with P&P Sales Close (in $1,000). High Sydney Hy Ujigawa Unterelbe Upper Venetian Vienna City Warsaw City Un Wurttemberg 831 6s 931 931 today ago January date same year same two years ago Danish trustee. du Pont Marseilles deposits of $3,066,072.11 on September 24. The Peoples Bank of Waco, in Cleveland county, with capital of $5,000 and resources of $11,388.26 shut its doors. The Clayton Banking Company, of Clayton, capitalized at $75,000 and with resources of $393,731.36, did not open. The Bank of Aulander. in Bertie county, with capital of $80,125 and resources of $385,896.95, also did not open. The other three Gaston banks, the Gaston Loan & Trust Co., of Gastonia; the Bank of Dallas and the Peoples Bank of West Gastonia, were comparatively small institutions. The combined deposits totaled $270,052.84. Closing of the Bank of Franklin in Macon/county, left that town without a financial institution. The bank' deposits were listed at $416,800. The Citizens Bank, which merged with the Franklin last month, had deposits of $125,000. The Bank of Swannanoa, with deposits of $182,000. and the Bank of Clyde, with deposits of $105,000, failed to open after withstanding runs yesterday. The Bank of Fletcher, in Henderson closed in the face of heavy withdrawals after remaining open hour and half. Its deposits were listed at $103,500. BIRMINGHAM DISTRICT BANKS EFFECT MERGER BIRMINGHAM, Ala., Dec. 16.merger of the Bank of Ala bama with the Ensley National Bank, making the combined assets over $1,000,000. was announced early today by Oscar Wells, chairman of the board the First National Bank of Birmingham. "With the co-operation and support of the Birmingham Trust & Savings Co. and the First National Bank of Birmingham, Mr. Wells statement said, "the assets will be taken over by the Ensley National Bank and the latter assume the liabilities of the Bank of Alabama. R. A. Terrell, 68. for many years president of the Bank of Alabama, died yesterday of wounds which Coroner D. Russum said were self State Superintendent of Banks Dent F. Green said that a recent report of

9. December 17, 1930 St. Louis Globe-Democrat St. Louis, MO

Article from St. Louis Globe-Democrat, December 17, 1930

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11 NORTH CAROLINA BANKS FAIL TO OPEN Gastonia First National, with $3,066,072 Deposits, Is Largest. By Associated Press. CHARLOTTE, N. C., December 16. -Eleven in North Carolina closed their doors today. Four banks in Gaston County, four in the Asheville area of Western North Carolina, one in Cleveland County, one in Johnston County and in Bertie County closed. The First National Bank of Gasthe largest. with deposits of $3,066,072. The People's Bank of Waco had resources of $111,338.26. The Clayton Banking Company of Clayton, capitalized at $75,000. had resources of $393,731.36. The Bank of Aulander, with capital of and resources of $385,896.95, also did not open. By Associated Press. State Department of Banking today the closing of the Bank of Hillsboro, in Pocahontas County The announcement said the bank was closed on Friday "to conserve assets.' and that negotiations for taking over the institution were being made by the Bank of Marlinton. By Associated. FAIRMONT W. VA., December 16. -The Union National Bank of Fairmont closed its doors shortly before noon today Inability to liquidate assets rapidly enough to meet demands for given as the cause for the closing. Dells Made in Saline. MO., December 16.Big, little, fat and dolls, tall, short, old and young dolls, and boy and girl and papa and mama dolls. about 500 of them, have been made this summer by the Women's Extension clubs Saline County, and will be shipped at once to various and institutions in Missouri. The dolls are to be given the children for Christmas presents.

10. December 18, 1930 The Herald Ahoskie, NC

Article from The Herald, December 18, 1930

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SLOW BUT STEADY CLOSES BANK AULANDER TUES'Y It Was in Better Shapę Than in Two Years But Could Not Pay Out the Cash UNFOUNDED RUMORS BRING ON CLOSING Large Cash Reserves Maintained by Other Banks for Any Eventuality Aulander, Dec. its affairs in better shape than at time in any two years, the Bank of Aulander failed to open its doors Tuesday morning following slow but steady run on it by depositors whose fears had been aroused by recent bank crashes in Pitt County. A groundless report circulated last Friday that the institution failed accenuated the withdrawals that has left Bertie's second largest community without bank and a closed capitalized bank. The bank had deposits of proximately $165,000 at the close of business. It is capitalized $80,000. It has loans and discounts of approximately $335,000, most which is represented by first gages on local real estate, according to W. Tayloe, president of the bank and leading Aulander business man. The bank owed approximately $100,000 at the time of closAccording to Mr. Tayloe, who (Continued on Page 10)