17329. Bank of Clover (Clover, SC)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
December 16, 1930
Location
Clover, South Carolina (35.111, -81.226)

Metadata

Model
gpt-5-mini
Short Digest
62a50330bd28f906

Response Measures

None

Description

Contemporary AP articles (Dec 16, 1930) report the Bank of Clover 'closed its doors today' as a precautionary suspension to protect depositors amid runs and failures in nearby banks (notably First National Bank of Gastonia). No article here reports a receivership or permanent takeover; the context indicates a precautionary suspension likely temporary.

Events (1)
1. December 16, 1930 Suspension
Cause
Local Banks
Cause Details
Closure taken as a precautionary measure in the wake of runs/closures of neighboring banks, especially the failure of the First National Bank of Gastonia (whose president also headed Clover).
Newspaper Excerpt
The Bank of Clover, York County, closed its doors today. ... The bank had resources of about $650,000.
Source
newspapers

Newspaper Articles (10)
1. December 16, 1930 Hickory Daily Record Hickory, NC
Article from Hickory Daily Record, December 16, 1930

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ELEVEN BANKS CLOSE RALEIGH, Dec. Eleven banks in North Carolina closed their doors today. Four banks in Gaston four Asheville area Western North Carolina. one Cleveland one county and one Bertie county shut their doors. The First National Bank of Gastonia was the largest the The Peoples Bank of Waco in Cleveland with capital of $111,shut its doors. The ClayBanking Company of Clayton. capitalized with resources did not The Bank Aulander Bertie with capital and also did not open. BANK OF CLOVER CLOSES Dec. The Bank Clover, York counclosed its doors today. Robinson, president of the First National Bank of Gastonia, failed to open this morning. also president of the Clover BUNCOMBE BANK CLOSES Dec. Swannanoa Bank and Trust Company oa, in Buncombe failed open doors this the board of directors taking this precautionary measure to protect the bank's assets. In its statement of tion, Swannanoa Bank and Trust Company reported deposliability of with tal stock and surplus and profits amounting $9,040. FRANKLIN BANK SHUT Bank Franklin closed morning leaving the town Franklin, Macon counwithout financial action taken the board of directors protect the deposiface threatened withdrawals today. The Citizens bank, during the financial with the Bank Franklin. BANK FAILS Dec. Bank Clyde, Clyde this morning by order of its board of directors, explained the tion taken "protect the positors. The bank heavy withdrawals yesterday. FLETCHER BANK CLOSES FLETCHER, Dec. Bank Fletcher, Henderson county, o'clock this in face heavy attributed the caused the closing other banks this closed deposit liability cording to the last statement. has surplus undivided profits $21,500. and Rhodes, cashier of the bank.

2. December 16, 1930 The Muskegon Chronicle Muskegon, MI
Article from The Muskegon Chronicle, December 16, 1930

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Wall Street Briefs New York, Dec. of steel rails in the Chicago district has increased to 50 per cent of rated against 40 per cent previously, Dow, Jones & says. Stocks of refined lead in the United States at the end of November showed an increase over October, although November refinery production was under that of the previous month Stocks at the end of totaled tons, against 84,375 in October, the American Bureau of Metal Statisties reports. Total refinery production of lead in the United States in November was 48,988 short tons, against 55 369 in October and 53,237 in September. Approximately 20 organizations have bonus distributions to employes. The latest to announce such action include the National Metal Exchange, two weeks' salary to employes; 10 Operating Bureau, Inc. which manages the loan offices the Beneficial Industrial Loan Corp., weeks' salary employes; and National Real Estate Corp. the Christmas bonus to all employes. Chicago, Dec. (U.S.D.A.) Potatoes 64: on track 167; total U. shipments 448: trading rather slow: sacked per cwt., Wisconsin Round Whites few Round Whites 40; Idaho Russets No. No. Colorado Brown Beauties 1.60; McClures unbranded 1.60-1.65. Charlotte, N. C., Dec. 16-(P)Eleven banks North Carolina closed their doors today. Runs were blamed. Four banks in Gaston county four in the Asheville area 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 the eleven, with deposits og $3,066,072 on Sep24. The Peoples bank of Waco in Clevecounty, with capital of and resources of $111,338.26 shut its The Clayton Banking company of Clayton, $75,000 of did not open. The Bank of Aulander, in Bertie county, with capital $80,125 and resources of $385,896.95, also did The other three Gaston banks, the Gaston Loan and Trust company of Gastonia, the Bank of Dallas, and the People's Bank of West Gastonia, comparatively small institutions. combined deposits totaled $270,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 had deposits of $125,000. The Bank of with deof $182,000, and the Bank Clyde, with deposits of $105,000, failed to open later withstanding runs westerday. The Bank of Fletcher, in Hendercounty, closed in after an hour and half. Its deposits were listed at $103,500. S. C. Bank Is Closed York, S. Dec. Bank of Clover, York county closed it's today Lee Robinson, president of the First National bank of Gastonia, which failed to open this morning, also president of the Clover institution. The bank had resources of about $650,000. Utah Bank Closes Salt Lake Utah, Dec. The Columbia Trust company of this city was placed in the hands of the banking department today. Frank B. Cook, president of the institution, said the board of directors requested the closing "in order to protect all depositors without preferThe bank is not insolvent, having 20 per cent reserve at the close Monday, and it is the opinion of the board that every depositor be paid in full,' Cook said. "Total are $718,544.24. Total assets are $1,175,590.93.' W. Va. Bank Closed. Charleston, W. Dec. The state department of banking today the of the Bank of Hillsboro in county. The said the bank was closed Friday "to conserve assets" and that negotiations for taking over the were being by the bank of Marlinton. Bank at Fairmont, W. Va., Closes Fairmont, Dec. The Union of Fairclosed its doors benoon today. Inability to liquiassets rapidly enough to meet demands for was given as the cause for the closing. pfd

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

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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

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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

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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 Boston Daily Globe Boston, MA
Article from The Boston Daily Globe, December 16, 1930

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BANK OF CLOVER, c, CLOSED ITS DOORS TODAY YORK, S C, Dec 16 (A. P.)-The 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 the Clover institution, which had resources of about $650,000.

7. December 16, 1930 The Sentinel Winston-Salem, NC
Article from The Sentinel, December 16, 1930

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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

8. December 17, 1930 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, December 17, 1930

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CAROLINA BANK CLOSED. York, S. C., December 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 the Clover The bank resources of about $650,000.

9. December 17, 1930 Leader-Telegram Eau Claire, WI
Article from Leader-Telegram, December 17, 1930

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BANKS FOUR STATES CLOSED North Carolina Leads Others with Seven Suspensions (By Associated Press) GASTONIA, Dec. Gaston county banks failed to open today, leaving only one financial institution in this textile city of 20,The First National Bank and the Gaston Loan and Trust company of Gastonia, the Bank of Dassal and the Peoples Bank of West Gastonia blames "heavy withdrawals." The First National Bank, largest of the four, had $3,066,072 on deposit Sept. Resources were listed $4,Bank officials siad $800,000 had been paid out to depositors since Nov. 20, when the American National Bank of Ashville closed its doors. Three Others Fail ASHEVILLE, N. Dec. Three banks in small western North Carolina towns failed to open today. The closing of the bank of Franklin left that town without financial instituoion. The bank had deposits approximately The bank of Clyde, with deposits $105,000 was closed because of heavy withdrawals. The same reason for the closing the was given he bank of Fletcher, which osite of $103,500. Carolina Bank Closes YORK, Dec. bank Clover, York county, Lee Robinson, of the National Bank of Gastonia, failed to open this morning, also president of the Clover The bank had Resources of $650,000. One in Virginia The State Department today the closing bank Hillsboro "to conserve and that ing over the institution were made the bank The bank on September 24 ital stock of Its $205,748.72 and its deposits taled $127,746. Company SALT CITY, Dec. Columbia was placed in the hands state banking department Frank Cook, president of stitution, said the board of requested closing order protect all depositors without erence." "Total deposits are total assets $1,175,590.98," said, adding that "every will be paid in full."

10. December 18, 1930 Fort Mill Times Fort Mill, SC
Article from Fort Mill Times, December 18, 1930

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YORK COUNTY the request of Ben Farris, game warden elect York county, the York legislative delegation met in the grand room in court house here Friday afternoon State game warden's the appointment of RobFewell of Rock Hill game worden. The naming of uty game warden has been necessitated, by the reluctance of the chief warden's office to issue sion to Mr. Farris account of an leged lack of educational qualifications, The deputy game warden will without from the pay county forth the letter Farris to the which the delegation signed, asking that the pointment be made. The only change the delegation made in was asked to sign out the and insert words warden," Senator Campbell being the opinion that would require of the Legislature name clerk for Mr. Farris. This opinion not concurred in by sentative Bradford. but since the gation took the view that deputy game warden could the pected of clerk. there greement the delegation to whethas Mr. Farris' office assistant should known clerk deputy game warden. The deputy will be compensated for his services by Mr. Farris His bond will be the same as that the game warden. All the members of the delegation, Senator Campbell and Representatives Bradford, Dunlap, H. Hicks and attended the meeting Senator Campbell presided and Mr. chosen secretary. The only other matter presented to delegation concerning the appropriation for cross country roads on rural mail routes. and Fred members of the legislative of the York County Rural riers' asociation. explained the good sults accomplished by means of the propriation and requested that support the be continued. Increased for York. Talk of increase mills the town tax levy, making mills, led meeting of the York town council with the York BusiMen's association, at which the financial affairs of the town discussed length and in detail. The outcome of the discussion was the pointment committee of five, headby the Noe. to study the council and try means for increasing the of the town without resort to raising the levy. an alternative way to raising the money without interfering with the tax levy, Mayor W. Morton suggested sewer tax and sprinkler warehouses and cotton mills. read financial statement in which shown that decreased revenue of the town the of town property. The assessed valuation has decreased $129,082 from 1925 from to levy raised 1896 from but the added revenue no longer sufficient to take care of the York to Seek Soldier Hospital. York will make an effort secure the United States government hospital that may be erected part of the country before Decision last meeting York Business Men's association and committee appointed work with other committees of the town help bring about the desired result. Mayor Morton was asked to call citizen's meeting some time between January matter will be presented to the people Clover Bank Closes Doors. The Bank of Clover, capitalized $30,000 and assets totaling failed to open its doors Tuesday morning and notice posted the information that this step was taken for protection the depositors taken in apprehension, said, "run" the bank the result the failure the First tional bank Gastonia. the president which, Lee Robinson, president the Clover bank. be the general belief the part sons thta the Clover bank solvent and that will closing the only temporary. Drunk Driving Charge for Benediet. Keyes Hickory, didn't pathway strewn flowers when Corner" married. the marriage handled