Socorro State Bank - Socorro, NM

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 8, 1925
Location: Socorro, New Mexico (34.058, -106.891)

Metadata

Model: gpt-5-mini
Short Digest: d32b72fd

Response Measures

None

Description

Article (Carlsbad Current-Argus, 1925-06-11) reports the Socorro State Bank 'failed to open Monday' after rumors about its stability; directors closed the bank to protect depositors and it 'has gone into the hands of the State bank examiner.' No explicit run is described (only fear of a run). Because the bank was turned over to the state examiner and no reopening is mentioned, I classify this as a suspension that led to closure (suspension_closure).

Events (1)

1. June 8, 1925 Suspension

Cause: Rumor Or Misinformation
Cause Details: Directors closed after a rumor about the bank's stability circulated for a couple of days; they feared a run and suspended operations; subsequently turned over to the State bank examiner.
Newspaper Excerpt: Socorro State bank of Socorro, New Mexico failed to open its doors Monday morning. The bank closed following rumor which was current in Socorro for a couple of days about its stablity. The directors feared a run and closed the bank to protect its depositors. ... it has gone into the hands of the State bank examiner.
Source: newspapers

Newspaper Articles (1)

1. June 11, 1925 Carlsbad Current-Argus Carlsbad, NM

Article from Carlsbad Current-Argus, June 11, 1925

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Article Text

Socorro State Bank FIRE! Fail to Open Monday Word has been received here that the Socorro State bank of Socorro, New Mexico failed to open its doors Monday morning. The bank closed following rumor which was current in Socorro for a couple of days about its stablity. The directors feared a run and closed the bank to protect its depositors. Assurance has been given depositors that the bank will pay a high percentage in spite of the fact that it has gone into the hands of the State bank examiner.