11696. Bank of Dallas (Dallas, NC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 16, 1930
Location
Dallas, North Carolina (35.317, -81.176)

Metadata

Model
gpt-5-mini
Short Digest
069972e7

Response Measures

None

Description

Multiple newspapers (Dec 16, 1930) report the Bank of Dallas (Gaston County, NC) failed to open/closed its doors as a precautionary measure citing heavy withdrawals. Coverage indicates closures were prompted by rumors and runs at other local banks (Asheville failures), not a distinct run on this bank. No reopening is reported in the articles, so I classify as suspension leading to closure.

Events (1)
1. December 16, 1930 Suspension
Cause
Local Banks
Cause Details
Closed by directors as a precautionary measure after heavy withdrawals and rumors following failures of other local banks (Central Bank & Trust Co. and American National Bank in Asheville). directors cited protecting depositors; withdrawals had been occurring in the area rather than a distinct misinformation event about this bank specifically.
Newspaper Excerpt
the Bank of Dallas ... were comparatively small institutions. The combined deposits totaled $270,052.84 and repeatedly: failed to open or closed their doors today
Source
newspapers

Newspaper Articles (12)
1. December 16, 1930 The Republican Springfield, MA
Article from The Republican, December 16, 1930

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FOUR BANKS IN NO. CAROLINA FAIL TO OPEN Forced to Close by Depletion of Deposits; Hysteria Blamed Raleigh, N. C., Dec. 16-Five banks, four Gaston county, North Carolina, the fifth in York South Carolina, failed to open for business today. The banks are the First National of Gastonia, deposits, capital stock, Bank deposits, $300,000; capital stock, $300,000. Gaston Loan and Trust Gastonia, ital stock. Bank Dallas. C., deposits. $75,000; capital stock, $30,000. People's bank, Western Gaston county, North Carolina, deposits, $75,000; capital stock. The First National of Gastonia suffered an depletion of deposits the 30 days. President said the was attributable to "hysteria."

2. December 16, 1930 Commercial Bangor, ME
Article from Commercial, December 16, 1930

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Eight Banks Now Closed In North Carolina Heavy Withdrawals Given Directors Reason By as For Action Charlotte, N. C., Dec. -Eight North Carolina banks, four in the western part of the state and four in Gaston county either fairs to open or closed their doors today. Directors of the institutions explained the taken measure for the pro tection of "Heavy was given as the rea son in practically The First National bank of Gas tonia, the largest of the eight, had deposits of Resources were given at $4,656,007.08 The other three Gaston banks, the Loan and Trust Company, of Gastonia, the Bank Dallas and the People's Bank of West Gastonia were small The combined deposits totaled Closing of the Bank of Franklin, in Macon county, left that town without financial The bank's were listed at $416,800. The Citizens' bank which merged with the Franklin last month, had deposits of $125,000. The Bank of with deposits of $182,000 and the Bank of Clyde, with deposits $105,000 failed to open after withstanding runs yesterday The Bank of Fletcher in Henderson county, closed in the face heavy after open an hour and half Its de. posits were listed at $103,500. Salt Lake City, Utah. Dec. Columbia Trust Com. pany of this city was placed In the hands of the state department today. Frank president of the institution, said board of directors requested the closing "in order to protect all depositors without "The bank is not ingolvent, having 20 reserve at the close of Monday, and it the opinion of the board that every depositor will paid full." Cook said. "Total deposits $718. 544.24. Total assets are $1,175,-

3. December 16, 1930 Evening Star Washington, DC
Article from Evening Star, December 16, 1930

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TEN BANKS CLOSED TO PROTECT FUNDS Eight Are in North Carolina, One in South Carolina and One in West Virginia. By the Associated Press. CHARLOTTE, N. C., December 16.Eight North Carolina banks, four in the western part of the State and four in Gaston County either failed to open or closed their doors today. Directors of the institutions explained the action was taken as a precautionary measure for the protection of depositors. "Heavy withdrawls" was given as the reason in practically every case. The First National Bank of Gastonia, the largest of the eight, had deposits of $3,066,072.11. Resources were given at $4,656,067.68. The other three Gaston banks, the Gaston Loan & Trust Co. of Gastonia, the Bank of Dallas and the People's Bank of West Gastonia, were comparatively small institutions. The combined deposits totaled $270,052.84. Town Is Bankless. 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 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. One Fails in South Carolina. YORK, S. C., December 16 (AP).-The bank of Clover, York County, closed its doors today. J. Lee Robinson, president of the First National Bank of Gastonia, which failed to open this morning, is also president of the Clover institution. One Closed in Hillsboro. CHARLESTON. W. Va., December 16 (AP).-The State Department of Banking today announced 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 Marlington. The Bank of Hillsboro on September 24 had capital stock of $25,000. Its resources were $205,748.72 and its deposits totaled $127,746.

4. December 16, 1930 The Post-Crescent Appleton, WI
Article from The Post-Crescent, December 16, 1930

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NORTH CAROLINA IN FEAR OF RUNS Action to Protect Depositors Follows "Heavy Withdrawals" Charlotte, North Carolina banks, failed open closed their doors today. case explained action taken precautionary measure for the protection depositors. "Heavy withdrawals" generally the reason. The First National bank of Gastonia, the largest of the eight, deposits $3,066,072. Resources given $4,656,067. The other three Gaston banks, the Loan and Trust pany, Gastonia, Bank of Dallas and the Peoples West Gastonia comparatively small institutions. The combined deposits totaled Closing of the Bank of Franklin, that without financial institution. The bank's deposits were listed The Citizens bank, which merged with the Franklin last month, had deposits of $125,000. The Bank Swannanoa with deposits $182,000 and the Bank $105,000 failed to open after withstanding The Bank of Fletcher closed in the face open and half. Its deposits were listed at $103,500. INQUIRY IN NEW YORK Binghamton, af. Andrew president the State bank missing the doors the institution closed was the object inquiry today from The state banking department, searching out the amount shortage reported about $600,000. one of the investigators. Federal officers came uopn that was the supreme treasurer organizaand the officers that organization, the Greek Catholic union, rived to check their The exact shortage, state bank might not determinuntil early next week. Deposiwere largely laborers. CLOSE ILLINOIS BANK III. the Pope County State bank conda for examination and adjustment was bank capitalized first this year the had total Loans total$244,286.79. Paris, First Nationbank Kansas, failed to open its today. There the bank last Friday. president, did not issue statement. The bank capital stock $50,000. Burled alive in rabbit hole near Box week, Irish terrier rescuers wagging tail.

5. 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.

6. December 16, 1930 The Boston Daily Globe Boston, MA
Article from The Boston Daily Globe, December 16, 1930

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EIGHT SOUTHERN BANKS CLOSED Heavy Withdrawals Given as Chief Reason CHARLOTTE, N C, Dec 16 (A. P.)Eight North Carolina banks, four in the western part of the State and four in Gaston County, either failed to open or closed their doors today. Directors of the institutions explained the action was taken as precautionary measure for the protection of depositors. "Heavy withdrawals' was given as the reason in practically every case. The First National Bank of Gastonia, the the eight, had deposits of $3,066,072. Resources were given as 4.656,067. The other three Gason County banks, the Gaston Loan and Trust Company of Gastonia, the Bank of Dallas and the People's Bank of West Gastonia, were comparatively small institutions. The combined deposits totaled $270,052. Closing of the Bank of Franklin, in Macon left that town without, financial 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 with deposits of $182,000, and the Bank of Clyde, with deposits of $105,000, failed to open after withstanding runs yesThe Bank of Fletcher, in Henderson County, closed in the face of heavy withdrav after remaining open an hour and half. Its deposits were listed at $103,500.

7. December 16, 1930 Biddeford-Saco Journal Biddeford, ME
Article from Biddeford-Saco Journal, December 16, 1930

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SOUTHERN BANKS THEIR DOORS Withdrawals Given Cause as by Directors. Charlotte, N. Dec. Eight North Carolina banks, four the western part state Gaston county either failed to open or closed doors Directors of institutions plained the action was taken measure for the protection of withdrawals" was given as the reason every The First National Bank tonia, the largest the had eight, Resources given other three Gaston banks, the Loan and Trust company, of Gastonia, the Bank Dallas and the People's Bank West Gastonia were small institutions. The combined deposits totaled Closing of the Bank of Franklin, Macon county, left that without financial institution. The deposits listed $416,800. The Citizens bank, which merged with the Franklin, last month, had deposits of $125,- The Bank of Swannanoa, with deposits of $182,000 and the Bank Clyde, with deposits of $105,000, failed after withstanding yesterday. The Bank of Fletcher, Henderson county, closed the face heavy after open an hour and Its deposits were listed at $103,500. York, Dec. Bank Clover, York county, its doors today. Lee Robinson, president of National bank of Gastonia, which failed open this also president of the Clover Va., Dec. state of banking today announced the bank Hillsboro, Pocahontas counwas closed Friday conbank on September had capital stock $25,000. Its were and its deposits totaled $127,746. Salt Lake City, Utah, Dec. Columbia Trust comthis city was placed in the hands of the state banking detoday. Frank Cook, president institution, board of directors requested closing order protect without preference. bank not insolvent, hav20 cent reserve the business Monday, and the opinion the board that every depositor paid Cook said. deposits are $718,544.24. Total assets are $1,175,590.98.'

8. 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

9. 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.

10. 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.

11. December 17, 1930 Tampa Bay Times St. Petersburg, FL
Article from Tampa Bay Times, December 17, 1930

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11 BANKS CLOSE THEIR DOORS IN NORTH CAROLINA Four in Gaston County and Like Number in Asheville Area CHARLOTTE N.C., Dec. 16.(P)-Eleven banks in North Carolina closed 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 $3,066,072.11 on Sept. 24. The Peoples Bank of Waco, in Cleveland county, with capital of $5,000 and resources of $11,338.26, 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 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 company. 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 financial 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. WEST VIRGINIA BANK CLOSED CHARLESTON, W. Va., Dec. 16.(P)-The state department of banking today announced the closing of the Bank of Hillsboro, in Pocahontas county. An announcement said that negotiations for taking over the institution were being made by the Bank of Marlington. The Bank of Hillsboro on Sept. 24 had capital stock of $25,000. Its resources were $205,748.72, and its deposits totaled $127,746. PARENTS GIVEN CHILDREN NEW YORK, Dec. 16.-(.P)-Mr. and Mrs. Pietro Ricci may keep custody of their young sons, Ruggiero and Giorgio, violin prodigies, Supreme Court Justice Vallente ruled today.

12. June 23, 1931 Battle Creek Enquirer Battle Creek, MI
Article from Battle Creek Enquirer, June 23, 1931

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GASTON CALM AS BANKS SUSPEND Four Small Institutions Close to Protect Depositors; Others Also. Special Charlotte Observer the announcement here last night of the closing of the First National Bank, the Gaston Loan and Trust company, the Peoples' Bank of Gastonia, and the Bank of Dallas, a mass meeting of some 300 or more leading including leading depositors of the Citizens National bank, the only remaining bank in the city of Gastonia, rose as unit to fortify the community from further financial disaster. That mass meeting proved today that had served its purpose well, and the citizenship of Gastonia went about its business in a calm and orderly fashion. There was no run on the Citizens National bank today. Although some small depositors called for their money, there was no crowd about the lobby of the bank, and by noon today the bank presented the appearance it does on any ordinary business day. G. Myers, its president, said this afternoon that deposits today had outnumbered withdrawals, while many new accounts were opened during the day. There was no evidence at all of any panicky feeling, and the general attitude this afternoon was one of quietude and confidence. The Citizens bank had prepared it: self for any emergency, and was prepared to pay any depositors who might wish to withdraw their money. special edition of The Gastonia Daily Gazette issued early this morning carried list of the names of some 300 or more leading citizens who expressed by their signa tures, in resolution presented to the mass meeting, absolute confidence in the Citizens National bank and their intention to continue deposits and refrain from withdrawals. The closing of the First National bank according to notice posted on the door of that institution this morning, by "reason of heavy withdrawals during the past several days this bank has suspended business by order of the board of directors for the protection of depositors. This action was taken after full consultation with the comptroller of the currency. These withdrawals. which had totaled some $800,000 since November 20, had been quiet and steady. They were occasioned by rumors following the failure of the Central Bank and Trust Co., and the American National bank in Asheville on that date. Officials of the First National the opinion that depositors will be paid 100 per cent The First National bank had deposits of resources of The Gaston Loan and Trust company had deposited $86,931 resources $135,363.16 capital $20,000. The Peoples Bank of West Gastonia had deposits of $64,042.91 The Bank of Dallas had deposits capital $20,000. Other Banks Close Following list of banks in North Carolina which closed yesterday, in addition to the Gaston banks: Swannanoa (Buncombe county) -The Swannanoa Bank and Trust company: deposits $182,000: capital Franklin (Macon county) Bank of Franklin: deposits $416.800. It was merged last month with the Citizens bank, which had deposits of $125,000 Combined capital surplus and undivided profits of the new institution was 104.500 Fletcher (Henderson county)The Bank of Fletcher: deposits capital surplus and un divided profits $21,500 Clyde (Haywood Bank of Clyde: deposits $105,000 Waco (Cleveland county Peoples Bank of Waco: resources Clayton (Johnston county)-The Clayton Banking company: Aulander (Bertie Bank of Aulander: resources $385.In South Carolina the Bank and resources of $552,843 failed to open.