Bank of Kenly - Kenly, NC

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: January 11, 1929
Location: Kenly, North Carolina (35.596, -78.124)

Metadata

Model: gpt-5-mini
Short Digest: f0ab9dec

Response Measures

Full suspension

Description

OCR-heavy article (News and Record, 1929-01-11) reports the Bank of Kenly 'was closed' after 'groundless rumor' produced 'heavy withdrawal[s]'. No mention of reopening; therefore interpreted as a closure following a run caused by rumor/misinformation. Corrected obvious OCR errors in text when extracting snippets.

Events (2)

1. January 11, 1929 Run

Cause: Rumor Or Misinformation
Cause Details: Groundless rumor triggered heavy withdrawals from the Bank of Kenly.
Measures: Directors closed the bank to protect funds (closure taken as a protective measure).
Newspaper Excerpt: the Bank of Kenly was closed. issued after groundless rumor had heavy withdrawal funds
Source: newspapers

2. January 11, 1929 Suspension

Cause: Rumor Or Misinformation
Cause Details: Bank closed after heavy withdrawals prompted by a groundless rumor; closure taken as a protective measure by directors.
Newspaper Excerpt: The Bank of Kenly was closed.
Source: newspapers

Newspaper Articles (1)

1. January 11, 1929 News and Record Greensboro, NC

Article from News and Record, January 11, 1929

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Article Text

TWO BANKS CLOSE IN EASTERN CAROLINA Scotland Neck Institution Has Assets" Made On Kenley Bank Rocky Mount, Jan. banks this North the bank and Bank Kenly, failed open for Scotland Neck bank. organized 1890 and to the oldest Halifax county, closed and the reorganization can be af. rected. The Bank of Kenly was closed. issued after groundless rumor had heavy withdrawal funds as means of protecting The Bank Kenly had capital of The the stitution directors expressed that the depositors The Scotland Neck institution was closed, when could meet sudden and closing was taken measagainst which lead serious The bank had capital of $50,000.