11946. Bank of Swannanoa (Swannanoa, NC)

Bank Information

Episode Type: Run → Suspension → Unsure
Bank Type: state
Start Date: December 15, 1930
Location: Swannanoa, North Carolina (35.598, -82.400)

Metadata

Model: gpt-5-mini
Short Digest: 75b2499d

Response Measures

Full suspension

Other: N/A

Description

Multiple contemporaneous newspapers report the Bank of Swannanoa 'withstood runs yesterday' and 'failed to open' on Dec 16, 1930. No article describes a permanent closure, receivership, or reopening; therefore classified as run → suspension with outcome unsure. Cause appears to be contagion/heavy withdrawals among local banks rather than a misinformation incident.

Events (2)

1. December 15, 1930 Run

Cause: Local Banks
Cause Details: Heavy withdrawals and runs in the region; bank 'withstood runs' on the prior day amid multiple North Carolina bank runs/closures.
Measures: Bank remained open during initial run (withstood runs) but subsequently did not open next day.
Newspaper Excerpt: The Bank of Swannanoa ... failed to open after withstanding runs yesterday.
Source: newspapers

2. December 16, 1930 Suspension

Cause: Local Banks
Cause Details: Directors cited heavy withdrawals and precautionary closure for protection of depositors amid regional bank failures/closings.
Newspaper Excerpt: The Bank of Swannanoa, with deposits of $182,000 ... failed to open after withstanding runs yesterday.
Source: newspapers

Newspaper Articles (14)

1. December 16, 1930 Grand Haven Tribune Grand Haven, MI

Article from Grand Haven Tribune, December 16, 1930

Click image to open full size in new tab

Article Text

EIGHT NORTH CAROLINA BANKS FAIL TO OPEN CHARLOTTE N. Car., Dec. 16 (AP) 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 in each case explained the action was taken as a precautionary measure for the protection depositors. Heavy withdrawals generally was given as the reason. The First National Bank of Gastonia, the largest of the eight had deposits of $3,066,072 Re sources were given as $4,656,067 The other three Gaston banks. the Gaston Loan and Trust Com pany of Gastonia, the Bank of Dallas and the Peoples Bank of West Gastonia were comparatively small institutions. Their combined deposits totalled $270,052.84. Clos ing of the bank of Franklin in Macon county left that town with out a financial institution. The Pank of Swannonoa failed to open after withstanding runs yesterday. The bank of Fletcher in Henderson county closed in the

2. December 16, 1930 The Times Trenton, NJ

Article from The Times, December 16, 1930

Click image to open full size in new tab

Article Text

HEAVY SALES SEND 11 NORTH CAROLINA TODAY'S NEW YORK STOCK MARKET BOND PRICES LOWER (United Press) (United Press) BANKS ARE CLOSED Erie NEW YORK, Dec. -Transactions NEW YORK Dec 16.-Heavy selling the New York Stock Exchange were TODAY'S NEW YORK CURB EXCHANGE broke out the bond market again today, causing resumption of the lower price trend in all but highest grade issues Pressure again converged on Junior railroad bonds. Minneapolis, St Paul & Sault Ste Marie 51/28 appeared on the tape at 55, off 14 points from their previous sale Nolfolk and Southern 5a dipped 44 points, while osses of more than a point each were acored by long list of issues New low marks were reached by Missouri Pa. cific 5s of 1965 Nickel Plate 51/28, St Louis-San Francisco 41/28 and Seaboard Air Line 4a. Erie 58 rallied 2 points against the trend. Directors Explain Action Taken To Protect Depositors in View of Runs CHARLOTTE N. C., Dec 16 -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 eleven. with deposits of $3,066,072.11 on September The Peoples Bank of Waco in Cleveland County. with capital of $5,000 and resources of $111,338.26 shut Its The Clayton Banking Company of Clayton, capitalized at $75,000 and 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 and Trust Company, Gastonia the Bank of Dallas and the Peoples Bank of West Gastonia were comparat small The combined $270,052.84 Closing of the Bank of Franklin. in Macon County left that town without financial institution The bank's deposits listed at $416.800 The Citizens Bank which merged with the Franklin last month. had deposits of The Bank of Swannanoa with deposits of $182 000 and Bank Clyde, with deposits of #105 000 failed to open withstanding runs yesterday The Bank of Fletcher in County the face of heavy withdrawals after an hour and half Its deposits were listed at $103 500. Directors the institutions explained the action was taken as precautionary for the protection of depositors Heavy withdrawals was given as the reason in practically every case. YORK S. C., Dec. Bank of Clover, York County. closed its doors today. Lee Robinson president of the First National Bank of Gastonia which failed to open this morning. is also president of the Clover institution The bank has resources of about $650,000 SALT LAKE CITY Utah. Dec 16 The Columbia Trust Company. of this city, was placed in the hands of the State Banking Department today Frank B. Cook president of the Institution. said the board of requested the closing "in order to protect all depositors preference "The bank is not insolvent. having 20 per cent. reserve at the close of business Monday. and it the opinion of the board that every depositor will be paid in Cook said "Total deposits are Total assets are OIL MINING RIGHTS GRANTED AMERICANS Press) Loews NEW 16 Following is list traded in the New York Curb Market week ago, 2,116,340; month ago, 2,137,Today 770; year 1929 1930 to 780,387,440 week month ago, year Sales. Straus (Associated Press) Int Nat Elec Ajax Rubber PWP Corp Central Press) STOCKS TUMBLE TO LOWER LEVELS (Continued from Page One) est grade. United States Steel made new low since 1928 and came near the low of that year of 132% New York Central Pennsylvania Railroad, Atchison. Chesapeake and Ohio, and Southern Pacific made new for many years. Railroad bonds were featured by wide declines he shares The rem: of the bond also declined weakening South American issues declined and foreign bonds generally were easy U. S. Gov. ernment issues held steady Wheat sold off to as much as 1% cents bushel Corn broke more than cents Cotton futures made new lows 1915 all months Derallied late the day. Washington news in addition to the suggestions. motion by Senator Heflin abolish mar ginal trading and protest against speculation by banking interests made in the House by Representative McFadden Among the issues making new lows for the year or longer the utility group were North American Public Service of New Jer. sey. Consolidated Gas and Detroit EdiThese issues broke from nearly American Telephone broke Kentucky below 174. New lows in the industria] list for the year longer were made by Amerner Brothers Air Case, Bethlehem Steel Nash Motors, Radio Davison Chemical. Republic Steel Corporation issues and Macy RACING CARDS (Continued from Page One) NEW ORLEANS ENTRIES FIRST Porter Don Thistle Pattie eligible Noon Eather Sweet Evelyn Shonna Horse Playbird Geary Hector Agnes Sorel Surpass SECOND Corp olds and Sullivin Take Dentelle Also eligible The Abbot Genuine Play Lad Hippias THIRD RACE fillies and miles Hallie Curtain Call Dear Orb xEmma eligible Time Alice xMy Lava FOURTH RACE claiming and Haskell Bolls Score Bob Rogers Zoom xTaddywawa FIFTH RACE claiming: olds Sophia SIXTH RACE Cause Duelist Bill SEVENTH olds and Belle Browning xBoyish Bob Princess Also eligible dia Dec 16.-It stated here that the Mary Hausman Nan Afghan has granted D 101 Polly portant oil mining to one the American Standard Oil comWeather and fast Horses listed according to post position.

3. December 16, 1930 Green Bay Press-Gazette Green Bay, WI

Article from Green Bay Press-Gazette, December 16, 1930

Click image to open full size in new tab

Article Text

BANKS CLOSE DOORS TODAY Heavy Withdrawals Is Given as Reason for Failure to Open. N. (AP) Eight North Carolina banks, failed to open or closed their doors today. Directors of the institutions in each case explained the action was taken for the protection of depositors. drawals" generally was given as the reason. The First National bank of Gasthe largest the eight, deof Resources given $4,656,067. other three Gastonia the Gastonia Loan and Trust the Dallas and the Peoples of West Gastonia The combined deposits totaled Town Without Bank Closing the Bank left that town without financial inbank's deposits were listed Citizens bank, which merged with the Franklast month, had deposits of $125,000. The Bank of Swannanoa with deposits of $182,000 and the Bank of Clyde, with deposits of failed to open after runs yesterday. The Bank of closed in the face heavy withdrawals after maining open hour half. Its deposits listed at $103,500 ANOTHER BANK CLOSED Clover. York county closed today. Robinson, president of the First National Bank of Gastonia which failed open this president of the Clover institution. bank had resources of about $650,000 IS SUSPENDED LINCOLN closing Continued on Page 28

4. December 16, 1930 Evening Star Washington, DC

Article from Evening Star, December 16, 1930

Click image to open full size in new tab

Article Text

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.

5. December 16, 1930 The Evening Sun Baltimore, MD

Article from The Evening Sun, December 16, 1930

Click image to open full size in new tab

Article Text

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 Herald Rock Hill, SC

Article from The Herald, December 16, 1930

Click image to open full size in new tab

Article Text

Mrs. Nancy McGill Is Laid To Rest (By Herald Correspondent) Sharon, Dec. 16.-Funeral services for Mrs. Nancy McGill were conducted in Sharon A. R. P. Church Saturday by her pastor, Rev. E. B. Hunter. assisted by Rev. R. M. Bell, of Hickory Grove, and Rev. O. W. Carmical, of Neely's Creek. Her favorite song, which she repeated just a short time before she passed away, was sung, "I'm Waiting, Waiting for combined deposits were $270,052.84. Closing of the Bank of Frank lin, in Macon county, left that town without a financial institution. The bank's deposits, in its last statement, were listed at $416,800. The Citizens Bank, which merged with the Franklin last night, had deposits of $125,000. The Bank of Swannanoa, in Buncombe county, with deposits of $182,000, and the Bank of Clyde, in Haywood county, with deposits of $105,000, failed to open after withstanding heavy 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 $103,000. the Lord." Pallbearers were G. W. Whitesides, J. A. Whitesides, of this place, Meek McGill, of Hickory Grove. H. M. Blair, of Blairsville, Blakely McGill, of Hickory Grove No. 2, and J. M. White, Jr. Flower bearers were Mrs. Belle McGill Roberts. of Blacksburg, Mrs. Blakley McGill. of Hickory Grove No. 2, and Miss Helen Sherer.

7. December 16, 1930 Omaha World-Herald Omaha, NE

Article from Omaha World-Herald, December 16, 1930

Click image to open full size in new tab

Article Text

Eight North Carolina Banks Close Doors Charlotte, N. Dec. 16 Eight North Carolina banks failed open or closed their doors today Directors of the institutions in each explained the action was taken precautionary measure for the protection depositors. "Heavy generally was given the reason. The First National Bank of Gastonia, the largest of the eight, had deposits of $3,066,072. other three Gaston banks, the Gaston Loan and Trust company Gastonia, the Bank of Daland the People's Bank of West Gastonia, were small. The comdeposits totaled $270,052.84. Closing of the Bank of Franklin left that town without financial institution had deposits $416,800. The Citizens' bank, which merged with Franklin last month, had deposits of 125 thousand dollars. The Bank of Swannanoa, with deposits of 185 thousand dollars, and the Bank of Clyde, with deposits 105 thousand dollars, failed to open after withstanding runs yesterday. The Bank of Fletcher closed in the face heavy withdrawals after remaining open an hour and half. deposits were listed at $103,500. Three Small Banks Close. Asheville. N. C., Dec. 16 Three banks in small western North today. Carolina towns failed to open The closing of the Bank of Frankleft that town without finaninstitution. The bank had deposits approximately The Bank Clyde, with depoists thousand dollars. closed was because of heavy withdrawals. The given for closBank which hadadeposits of $103,500,

8. December 16, 1930 Biddeford-Saco Journal Biddeford, ME

Article from Biddeford-Saco Journal, December 16, 1930

Click image to open full size in new tab

Article Text

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.'

9. December 16, 1930 The Sentinel Winston-Salem, NC

Article from The Sentinel, December 16, 1930

Click image to open full size in new tab

Article Text

out a financial institution The bank's in its last ment, were listed at $416,800 The Citizens Bank which merged with the Franklin last month, had de posits of The Bank of Swannanoa, in Bun combe with deposits of $182.000 and the Bank of in Haywood County, with deposits of $105 000 failed open after withstanding heavy runs The Bank of Fletcher, Henderson closed in the face of heavy withdrawais after remaining open an hour and half. Its deposits were listed $103,500 One Remains Open The Citizens National Bank, the institution remaining open in reported through the deposits had exceed withdrawals through the despite small run on the savings An extra edition of the Gastonia ried scores of from local firms and merchants their support to the Citizens Na Scores of depositors of the banks met last night and pledged to every aid large number were on hand early today make "The Citizens National is an in sound Mr. on and due from banks to BANK OF CLOVER CLOSES York Bank of Clover, York County, closed its doors today Lee Robinson. president of the First National Bank of Gastonia, which failed open this morning. president of the Clover institution. The bank had resources of about $650,000. Walter Thomason, county treasurer, said York County had in on checkbursement funds. Road bond funds of Kings $2,000 Mountain Township, totalling and Comer funds in the sum of $12,529.16 were also gins with Christmas Eve and con tinues through the watch service on New Year'e Eve Weekly rehearsals are being held and there will be special rehearsal just prior to the New Year's services At o'clock Christmas Eve after. noon. the band will play for the dren's love feast. it being stationed in the church attic. the same place. will play 7:45 that ning. for the congregational love Christmas Day. the band will play from the old Salem Boys School building at 10 The special rehearsal will take place in the building at 7:30 o'clock Tuesday evening. December 30. The band will play at 7:45 o'clock the church attic, for the memorabilia love feast. Again, night, will play for the watch night

10. December 16, 1930 The Atlanta Journal Atlanta, GA

Article from The Atlanta Journal, December 16, 1930

Click image to open full size in new tab

Article Text

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

11. December 17, 1930 The Cincinnati Enquirer Cincinnati, OH

Article from The Cincinnati Enquirer, December 17, 1930

Click image to open full size in new tab

Article Text

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.

12. December 17, 1930 The Cincinnati Enquirer Cincinnati, OH

Click image to open full size in new tab

Article Text

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.

13. December 17, 1930 The Cincinnati Enquirer Cincinnati, OH

Click image to open full size in new tab

Article Text

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.

14. December 17, 1930 Tampa Bay Times St. Petersburg, FL

Article from Tampa Bay Times, December 17, 1930

Click image to open full size in new tab

Article Text

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.