11683. Clayton Banking Company (Clayton, NC)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
December 16, 1930
Location
Clayton, North Carolina (35.651, -78.456)

Metadata

Model
gpt-5-mini
Short Digest
4b385812

Response Measures

None

Description

Multiple AP and regional reports (dated Dec 16–17, 1930) list the Clayton Banking Company as one of eleven North Carolina banks that did not open or closed their doors on Dec. 16, 1930. The accounts describe a wave of suspensions across the state tied to runs at other banks; there is no article here reporting a formal receivership or permanent closing for Clayton, nor any explicit reopening. Given lack of evidence of permanent failure and no receivership mention, I classify this as a suspension (no explicit run at Clayton) with likely eventual reopening. Corrected OCR typos (e.g., various articles truncate numbers/words) but bank name and location are consistent.

Events (1)
1. December 16, 1930 Suspension
Cause
Local Banks
Cause Details
Part of a wave of bank closures/suspensions in North Carolina after runs and failures elsewhere (contagion from failures such as First National Bank of Gastonia); articles list eleven banks that did not open Dec. 16, 1930. No bank-specific insolvency or government receiver cited for Clayton in these articles.
Newspaper Excerpt
The Clayton Banking Company of Clayton, capitalized at $75,000 and with resources of $393,731.36, did not open.
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 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-

3. December 16, 1930 The Atlanta Journal Atlanta, GA
Article from The Atlanta Journal, December 16, 1930

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11 Banks in Carolina Fail to Open Doors CHARLOTTE N. Dec. 16 -(AP) North Carolina closed doors Tuesday Four banks in Gaston County, four the Asheville area of western North Carolina, in County, in Jornston County and Bertie County shut their Also bank at Clover, S. C., failed The First Bank of Gaswas largest of the with deposits of $3,066,072. on September The Peoples Bank of Waco, in Cleveland County capital of and resources of $111,338.26 doors. Clayton Banking Company, of $75,000 and with resources of $393,731.36. did not open. The Bank of Aulander, in Bertie County. with capital of and resources of also did not open. other three Gaston banks, the Gaston Loan Trust Company, of Gastonia the Bank of Dallas and the Peoples of Gastonia were comparat institutions. The combined $270,052.84 Closing of the Bank Franklin, in County, that without financial The bank's deposits Citizens listed at $416,800. The Bank which merged with the Franklin $125,000. last month. had deposits of The Bank of Swannanoa, with deposits of and the Bank of Clyde, with deposits $105,000. Monday failed to open after withsfanding runs Bank of Fletcher in Henderson in of heavy withdrawals after remaining open an listed hour and half. Its deposits at Bank Clover York County resources about to open Trust Companies NEW the market. Asked Express Comm Ital 255 Banca Sivilia Bank Europe Tr 570 Broadway Plaza Brooklyn Hanover Clinton Bk Tr Exchange County Guaranty Hibernia Inter Madison Trust is County Title Guar Manufacturers Midwood Mutual West Times Square 125 of Nr Am 2800 Westchester Title Tr Westchester

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
Article from The Cincinnati Enquirer, December 17, 1930

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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
Article from The Cincinnati Enquirer, December 17, 1930

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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 17, 1930 The News and Observer Raleigh, NC
Article from The News and Observer, December 17, 1930

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Five Banks Close in Gastonia Clayton Banking Co. Closes Doors of the Central Band Asheville were felt yesterfailure failure of banks North five them four Gaston Asheville Cleveland and Eastern the State the banks Gaston Closing the National Bank Gastonia First Monday night. president large the Gastonia bank, president American National Ashewhich crasbed day after the Central went down. Steady withdraw aggregating $800,000 about the closing, officers brought announced. Gastonia National Bank the largest to close deposits $2,400,000 and capital $500,000 surplus undivided profits $400,000. date last statement the bank owed The failure the Citizens money. National the only bank Gas Other banks suspending yesterday last call. September follows: Clayton Banking Co., Johnston County. The bills payable $105,000. Bank Bertie Capital and $157,230. had posits, Tayloe Bank of Yancey, Yancey Capital plus. deposits, bank payable. Bank Trust Bun county. $236,063 deposits, The nad bills. W. Harrison Bank Franklin Macon county. Capital and $112,000; posits, had bills $40,000. Lee president. Bank Fletcher. Henderson coun Capital $22,000; bank payable. H. Sumner president. Bank Clyde. county Capital $25,000; posits, $95,516. The bank had $10,000 bills payable. Edwin Fincher Gaston Loan Trust Capital bank $10,000 Woltz president. Peoples Gastonia Capital sources, $92. bank had bills payable. Gaston county Capital loans bank bills payable of $50,000. was president. Peoples Bank, Waco, Cleveland county. loans. deposits The had payable $8,000. W. Black was president. The State of North Carolina $22,000 deposit First Na on tional astonia, deposit Bank naklin, $5,000 the Clayton Banking Co., $11, French Broad Bank Marshall which closed Monday. All deposits were fully protected by bonds. GASTONIA RISE SUPPORT OF Dec. last night the closing of the First National Bank Loan Trust Company. the Bank the Bank of leading leading Citizens National Bank the bank rose unit fortify from further financial disaster. That mass meeting, Inspiring today served and the izenship Gastonia calm orderly nicipal Judge and citizens address the meeting Monday night restored confidence today showed itself face the No Run Citizens. There Citizens Bank small called for their there crowd about the lobby the bank and day appear any ordinary busipresident stated this deposits today had outnumbered margin. De positors during the There evidence panicky feeling. the general quietude Citizens Bank itself any depositors might wish their monies.