Weldon Bank & Trust Company

Bank Information

Episode Type: Suspension → Reopening
Bank Type: trust company
Start Date: December 18, 1930
Location: Weldon, North Carolina (36.427, -77.596)

Metadata

Model: gpt-5-mini
Short Digest: f117b263

Response Measures

None

Description

Article (Dec 18, 1930) reports The Bank of Weldon and the Weldon Bank and Trust Company 'announced payments been temporarily...' (OCR garbled). This indicates a temporary suspension of payments rather than an outright failure; no run is described and no receivership or permanent closing is mentioned. I therefore classify as a suspension (temporary) with likely reopening. The state banking department is referenced in context, suggesting regulatory involvement.

Events (1)

1. December 18, 1930 Suspension

Cause: Government Action
Cause Details: State banking department involvement and announcement of temporary suspension of payments (article implies a regulatory precautionary suspension).
Newspaper Excerpt: The Bank of Weldon and the Weldon Bank and Trust company announced payments been temporarily ... state banking departm said
Source: newspapers

Newspaper Articles (1)

1. December 18, 1930 The Des Moines Register Des Moines, IA

Article from The Des Moines Register, December 18, 1930

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Article Text

BANK IN INDIANA CLOSES DOORS Trust and Savings at Rensselaer Had $830,000 Deposits. INDIANAPOLIS closing of the Trust and Savings bank at Rennselaer was announced Wednesday by the state banking department. The bank was closed as precautionary measure The institution was capitalized at $100,000 with deposits of loans of $770.000 and undivided profits of $10,000. Bank of Sturgis, Ky. Closes. STURGIS, KY The Bank of Sturgis failed to open Wednesday. notice on the door stated it had been taken over by the state banking department. The last statement of the bank showed capital of resources of 94 and deposits of $386,514. Four in North Carolina. RALEIGH. N. The Cit izens bank of Burnsville N. with capital and surplus of $112.000, was forced to close its doors Tuesday, the state banking department was notified Wednesday. The last statement showed deposits $391.872 and resources of $507,608 The Scotland County Savings bank. small institution of which Congressman Hinton James president, also failed to open. Its deposits totaled The Bank of Weldon and the Weldon Bank and Trust company announced payments been "temporarily banking departm said Their combined deposits totaled slightly more than $500.000 Blame Bond Depreciation. NEW STRAITS O. The Martin State bank the only bank here. failed to open day Depreciation bonds was responsible for the closing The bank was capitalized at $25 000 and its last state ment showed resources of $205,000.