17561. Buffalo Gap Bank (Buffalo Gap, SD)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
August 2, 1932
Location
Buffalo Gap, South Dakota (43.492, -103.313)

Metadata

Model
gpt-5-mini
Short Digest
dd7aed761d045bbc

Response Measures

None

Description

The articles (Aug 2 and Aug 5, 1932) describe the Buffalo Gap Bank reopening after a six-day holiday during which it worked out plans to continue business. The temporary closure was a precaution prompted by the failure of the Pennington County bank at Rapid City and threatened runs on nearby county banks (local bank distress). There is no description of a depositors' run on Buffalo Gap itself—depositors in fact redeposited funds—so this is a suspension (temporary holiday) followed by reopening.

Events (2)
1. August 2, 1932 Reopening
Newspaper Excerpt
Much New Money Deposited After Bank Stages Holiday Buffalo Gap, Aug. 2.-A large sum of money in new was deposited by old depositors in the Buffalo Gap bank after its reopening following six-day holiday work out plans for continuing business without ... The bank will pay dividends as rapidly as cash realized. Banks in Custer, Hermosa, and Pringle plan, following the failure the Pennington bank at Rapid City, which heavy run on the Custer county banks.
Source
newspapers
2. * Suspension
Cause
Local Banks
Cause Details
Precautionary six-day holiday triggered by failure of the Pennington County bank at Rapid City, which threatened heavy runs on local banks.
Newspaper Excerpt
reopening following six-day holiday to work out plans for continuing business without suspension.
Source
newspapers

Newspaper Articles (2)
1. August 2, 1932 Argus-Leader Sioux Falls, SD
Article from Argus-Leader, August 2, 1932

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Article Text

Much New Money Deposited After Bank Stages Holiday Buffalo Gap, Aug. 2.-A large sum of money in new was deposited by old depositors in the Buffalo Gap bank after its reopening following six-day holiday work out for without With very few exceptions, certificate percent. The bank will pay dividends as rapidly as cash realized. Banks in Custer, Hermosa, and Pringle plan, following the failure the Pennington bank at Rapid City, which heavy run on the Custer county banks.

2. August 5, 1932 Deadwood Pioneer-Times Deadwood, SD
Article from Deadwood Pioneer-Times, August 5, 1932

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Article Text

in the Buffalo Gap bank after opening following six-day holiday to work out plans for continuing business without suspension. With very few ceptions, depositors signed five-year time certificate with interest at percent. The bank will pay dividends rapidly as cash is realized. Banks in Custer, Hermosa, and Pringle followed the same plan, following the failure of the Pennington county bank at Rapid City, which threatened heavy run on the Custer county banks.