Article Text
BANK CLOSED Ala., Nov. Green, state superintendent banks, announced the closing today of the Bank Gantt Covington county. The bank, with capital stock of $15,000, liquidated receiver, probably will not be reopened, Supt. Green said.
152. Bank of Gantt (Gantt, AL)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- state
- Start Date
- November 18, 1930
- Location
- Gantt, Alabama (31.407, -86.484)
Metadata
- Model
- gpt-5-mini
- Short Digest
6a6c8457
Response Measures
None
Description
Multiple contemporary newspaper reports (Nov 18, 1930) state the Bank of Gantt in Covington County was closed by the state superintendent of banks and placed in liquidation with a receiver and probably will not be reopened. Closure attributed to drought and ruined cotton crop leaving frozen assets. OCR errors in articles corrected (e.g., 'drouth' -> drought; mangled sentences). No mention of a depositor run.
Events (1)
1.
November 18, 1930
Suspension
- Cause
- Local Shock
- Cause Details
- Drought during the summer followed by heavy September rains ruined the cotton crop, leaving the bank with frozen assets it could not carry.
- Newspaper Excerpt
- Dent Green, state superintendent of banks, announced the closing today of the Bank of Gantt in Covington county. The bank ... will be liquidated by a receiver, and probably will not be reopened.
- Source
- newspapers
Newspaper Articles (4)
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Article Text
COVINGTON COUNTY BANK IS CLOSED MONTGOMERY, Nov. 18. Dent Green. of the closing day of the Bank of Gantt in Covcounty. capital stock of $15,000, will be by receivwill not be ed. Supt. Green said. Supt Green said the drouth during summer, followed by the heavy September rains which ruined cotton crop. had left the bank with frozen assets hands which was unable to
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Article Text
Gantt Bank Failure Caused By Drought MONTGOMERY Nov. F. Green, state tendent the closing today of the Bank of Gantt in The bank, with capital stock of will liquidated by ceiver, will not be opened, Supt. Green Supt. Green said the drouth during the summer, followed by the rains which ruined the cotton crop. had left the bank with frozen assets on its hands which it was unable to carry longer.
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Article Text
Covington County Bank Closed Today MONTGOMERY, Ala., Nov. 18.(AP)-Dent Green. state superintendent of banks, announced the closing today of the Bank of Gantt in Covington county. The bank with capital stock of $15,000, will be liquidated by a receiver, and probably will not be reopened. Superintendent Green Superintendent Green said the drouth during the summer, followed by the heavy September rains which ruined the cotton crop, had left the bank with frozen assets on its hands which it was unable to carry longer. LIVE STOCK CHICAGO, Nov. Hogs 43,000 including 15,000 direct; slow; mostly 15@ 25, spots 35 below Monday's average; top, 8.35; bulk 160280 lbs., 8.15@8.30; slaughter pigs, good and choice 100 130 lbs., 8.00@ 8.35. Cattle, 7,000; calves 2,000; hardly enough done to make market; few sales steers and yearlings steady; light yearlings scarce and much more active than weighty steers; early top yearlings, 12.90; helfers, good and choice 550-850 lbs., 9.25@13.00; common and medium, 5.00@9.25; COWS, good and choice, Sheep, 7,000, generally steady; early bulk good to choice native fed western lambs, to packers; several loads to city butchers, 7.75; range feeding lambs 6.50@7.25 native fat ewes, 3.00@ 3.50; lambs 90 lbs. down. good and 6.75; all weights. common. 5.50.