Article Text
Bank Shuts Its Doors. The doors of the Bank of Kinston. N. C., closed. S. H. Loftin, proprietor of the bank. having assigned with liabilities amounting to more than $100,000. The failure has caused a money panic in Kinston.
11816. Bank of Kinston (Kinston, NC)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- state
- Start Date
- June 4, 1901
- Location
- Kinston, North Carolina (35.263, -77.582)
Metadata
- Model
- gpt-5-mini
- Short Digest
2e3af33f
Response Measures
None
Description
Articles (June 4–5, 1901) report the Bank of Kinston closed after proprietor S. H. Loftin 'assigned' with liabilities >$100,000. This indicates a failure/assignment (bank-specific insolvency) and caused a local panic. No explicit run described and no reopening mentioned; classify as suspension leading to closure. 'Bank of Kinston' lacks 'National' or 'Trust'—assumed state-chartered (could be private), so bank_type set to 'state'.
Events (1)
1.
June 4, 1901
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Proprietor S. H. Loftin 'assigned' (made an assignment) with liabilities exceeding $100,000, i.e., bank failure/insolvency leading to closure.
- Newspaper Excerpt
- The doors of the Bank of Kinston, N. C., closed. S. H. Loftin, proprietor of the bank, having assigned with liabilities amounting to more than $100,000. The failure has caused a money panic in Kinston.
- Source
- newspapers
Newspaper Articles (2)
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Article Text
Bank Shuts Its Doors. The doors of the Bank of Kinston, N. C., closed. S. H. Loftin, proprietor of the bank. having assigned with liabilities amounting to more than $100,000. The failure has caused a money panic in Kinston.