Peoples Bank - Thomasville, NC

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: May 17, 1921
Location: Thomasville, North Carolina (35.883, -80.082)

Metadata

Model: gpt-5-mini
Short Digest: 8ceb9e9b

Response Measures

None

Description

Article (The Daily Times, 1921-05-17) reports that the State Corporation Commission appointed a receiver for the Peoples Bank of Thomasville. No run or prior heavy withdrawals are mentioned. Appointment of a receiver implies suspension and permanent closure/receivership by government action.

Events (2)

1. May 17, 1921 Receivership

Newspaper Excerpt: The State Corporation Commission announces the appointment of J. Arthur Morris by Judge T. B. Finley as receiver for the Peoples Bank of Thomasville.
Source: newspapers

2. May 17, 1921 Suspension

Cause: Government Action
Cause Details: State Corporation Commission/Judge appointed a receiver, indicating suspension of payments and operations.
Newspaper Excerpt: The State Corporation Commission announces the appointment of J. Arthur Morris by Judge T. B. Finley as receiver for the Peoples Bank of Thomasville.
Source: newspapers

Newspaper Articles (1)

1. May 17, 1921 The Daily Times Wilson, NC

Article from The Daily Times, May 17, 1921

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Article Text

MANY COUNTIES ARE REPENTING THEIR VALUE REDUCTIONS MANY NOT REPORTED Neither the Board Nor the Revenue Commissioner Can Undo the Action Taken by County Commissioners in Reducing Property Valuations, Counties Themselves Must Act. (By Max Abernethy) Raleigh, May 17.-Counties repenting of the damage their commissioners did to Revaluation by authorities horizontal reductions in property valuations prevented the State Board of Equalization, at its meeting here yesterday, from making final review of the fifty odd counties that have tampered with the 1919-20 valuation figures. There are some counties that have not, as is required by law, reported their action to the State board. In a letter written the register of deeds of every county in the State the board urges that all counties making horizontal reductions and those making no general reduction send in their reports not later than June 15. On this date the board will meet again and do then what it expected to do at Monday's meeting. Commissioner A. D. Watts of the Department of Revenue, who is chairman of the State Board of Equalization, is of the opinion that neither the board nor he as commissioner can disallow the action taken by the county commissioners at this time. The commissioners themselves, however, seem to have authority to undo what they have done before the reports reach the State Tax Commission. Tar Heels who make the trip to the Western wheat fields this summer are going to work for a greatly reduced wage, according to information furnished the Federal Employment Bureau here. The bulletin so far received points out that "the harvest fields do not offer light work and the sun is often exceedingly hot," and warns boys and youngsters who are unacquainted with hard work to stay at home. As to wages the bulletin says: "This office is at this time unable to give any definite information of the subject of wages. Last year at this season the grain grower was looking forward to $2.25 and $2.50 per bushel wheat, this year it looks more like $1.00. So it goes without saying that he cannot pay last year's wage. Wage meetings will be held in Kansas about June 1st. and until that time this question will have to remain open." The State Corporation Commission announces the appointment of J. Arthur Morris by Judge T. B. Finley as receiver for the Peoples Bank of Thomasville. Governor Morrison has accepted an invitation to deliver the commencement address at Peace Institute, Raleigh. He will speak at Elon College at noon on the same date.