Bank of Cary - Cary, NC

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 9, 1931
Location: Cary, North Carolina (35.792, -78.781)

Metadata

Model: gpt-5-mini
Short Digest: c4682e25

Response Measures

None

Description

Article (News & Observer, 1931-06-12) reports the Bank of Cary suspended operations June 9 and the Commissioner of Banks took possession for liquidation (notice filed June 11). No run is mentioned; the closure is by state banking authority (receivership/liquidation).

Events (2)

1. June 9, 1931 Suspension

Cause: Government Action
Cause Details: Bank suspended operations June 9 and by board resolution placed assets under the Commissioner of Banks for liquidation.
Newspaper Excerpt: The bank suspended operations June 9, and, by resolution passed by majority of its board of directors, placed its assets and business under the control of Gurney P. Hood, Commissioner of Banks.
Source: newspapers

2. June 11, 1931 Receivership

Newspaper Excerpt: Notice was filed in Wake Superior Court yesterday that the Commissioner of Banks has taken possession of the Bank of Cary for the purpose of liquidation.
Source: newspapers

Newspaper Articles (1)

1. June 12, 1931 The News and Observer Raleigh, NC

Article from The News and Observer, June 12, 1931

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Article Text

COMMISSIONER TAKES CHARGE OF CARY BANK Notice was filed in Wake Superior Court yesterday that the Commissioner of Banks has taken possession of the Bank of Cary for the purpose of liquidation. The bank suspended operations June 9, and, by resolution passed by majority of its board of directors, placed its assets and business under the control of Gurney P. Hood, Commissioner of Banks.