11866. Bank of Murphy (Murphy, NC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 22, 1930
Location
Murphy, North Carolina (35.088, -84.035)

Metadata

Model
gpt-5-mini
Short Digest
a130d703

Response Measures

None

Description

Multiple contemporaneous newspaper reports (Nov 22–23, 1930) state the Bank of Murphy closed its doors / did not open today as part of a wave of bank suspensions in western North Carolina. The articles do not describe a depositor run specifically on this bank nor mention a formal receivership in the excerpts provided. Reason for the suspension is not specified in the clippings (OCR fragments present). Classified as suspension_closure because the bank closed and did not reopen in the reported coverage.

Events (1)
1. November 22, 1930 Suspension
Cause Details
Article states the bank closed its doors as part of a series of suspensions in western North Carolina; no explicit cause (run, insolvency, or government action) provided in the available text.
Newspaper Excerpt
The Bank of Murphy, N. C., oldest financial institution in western North Carolina, with deposits of $350,000, closed its doors
Source
newspapers

Newspaper Articles (4)
1. November 22, 1930 The Cleveland Press Cleveland, OH
Article from The Cleveland Press, November 22, 1930

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Article Text

BANK CLOSINGS NOW TOTAL 120 Four in South and West Are Added to Week's List of Suspensions By UNITED PRESS The total of bank suspensions in the South and Midwest during the week stood at 120 with two more closed today in North Carolina and one each in Tennessee and Minnesota. "Malicious and false rumors' which brought a run were blamed for closing the First National Bank of Newport, Tenn. The Bank of Murphy, N. C., oldest financial institution in western North Carolina, with deposits of $350,000. closed its doors The Bank of Black Mountain also suspended. The State Bank of Kinbrae, Minn., was closed by state examiners because of lack of reserve. Meantime in Little Rock Ark., the State Banking Department prepared to take charge of more than 30 banks which tions during the week

2. November 22, 1930 The Oshkosh Northwestern Oshkosh, WI
Article from The Oshkosh Northwestern, November 22, 1930

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Article Text

MORE BANK SUSPENSIONS Asheville, small western North Carolina banks today added to the of those to suspend the Central Bank and company closed Thursday. Altogether banks closed in three days. The today were the Bank Black the Polk County Bank and the Bank Murphy at MurThe total deposits in the three

3. November 22, 1930 The Brattleboro Reformer Brattleboro, VT
Article from The Brattleboro Reformer, November 22, 1930

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Article Text

ANOTHER BANK CLOSES. Total of 13 in Western North Carolina Last Three Days. Nov. The notified morning that Bank Murphy did open today, which closed western North Carolina in three days. bank was capitalized at had surplus $15,000; profits $4,269, total deposits according its last Sept.

4. November 23, 1930 Winston-Salem Journal Winston-Salem, NC
Article from Winston-Salem Journal, November 23, 1930

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Article Text

Department Given Notice of Closing Raleigh State Bank Department has the closing today the Bank Trust Company The bank was capitalized September 24 listed posits at Bank of Murphy Fails to Open Raleigh The state banking ing that the Bank of Murphy did not business bringing the banks which closed Western North Carolina in three bank at vided of and deposits of her 24. call statement. as of Septem- Suspend Work On Highways Little Rock, Ark. Dwight H. chairman of night the suspension of state force work the