17645. Brown County Banking Company (Groton, SD)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
December 11, 1930
Location
Groton, South Dakota (45.447, -98.099)

Metadata

Model
gpt-5-mini
Short Digest
f8e2d316c8f9b870

Response Measures

None

Description

Multiple contemporaneous newspaper reports (Dec 12–13, 1930) state the Brown County Banking Company suspended operations after heavy withdrawal of funds. A later report (Dec 13) says the bank was placed into the hands of the state banking department, indicating it did not resume business and was taken into state custody. Dates inferred from publication lines: suspension occurred the day before the Dec 12 notices (interpreted as Dec 11, 1930); state takeover reported Dec 13, 1930. Cause of run/suspension is not specified beyond heavy withdrawals, so classified as 'other'.

Events (3)
1. December 11, 1930 Run
Cause Details
Heavy withdrawals of funds from depositors prompted by unspecified causes; article states 'heavy withdrawal of funds.'
Measures
Directors suspended operations (ceased payments) following heavy withdrawals.
Newspaper Excerpt
suspended operations yesterday through action taken by the directors following a heavy withdrawal of funds.
Source
newspapers
2. December 11, 1930 Suspension
Cause Details
Directors suspended the bank after heavy withdrawals; suspension appears voluntary action by directors in response to the run.
Newspaper Excerpt
The Brown County Banking company ... suspended operations yesterday through action of the directors following heavy withdrawal of funds.
Source
newspapers
3. December 13, 1930 Receivership
Newspaper Excerpt
Three South Dakota banks placed hands of the banking department today ... Brown County Banking company of Groton ... also closed their doors.
Source
newspapers

Newspaper Articles (4)
1. December 12, 1930 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, December 12, 1930

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Article Text

Bank at Groton, S. D., Suspends Operation Groton, S. D., Dec. 12.-(P:-The Brown County Banking company, a financial institution here, suspended operations yesterday through action taken by the directors following a heavy withdrawal of funds. The capitalization was $25,000.

2. December 12, 1930 The Sacramento Bee Sacramento, CA
Article from The Sacramento Bee, December 12, 1930

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Article Text

Missing THIS is William G. Whitlock of Cleveland, brother of Brand Whitlock, author and orme United States ambassador to Belgium, who has been from his since December The members of his family, believing that he has met with foul play, have asked the police to hunt for him. ing. Bannon insisted that they had gone to Colton, Ore., to live and that he had taken them to a train to begin their journey. After yesterday morning's court proceedings had ended, Bannon called his mother, minister and his attorney and asked Sheriff C. A. Jacobson to take him to the farm. In pile of refuse there, he told the sheriff, the body of the baby would be found. It was. LAWYER KILLS SELF. NEW YORK, Dec. OIIver E. Holmes, 32, lawyer, ended his life last night by inhaling gas in his apartment at the National Arts Club. BANK SUSPENDED GROTON (S. D.), Dec. The Brown County Banking Company suspended operations yesterday through action of the directors following heavy /ithdrawal of funds. The capitalization is $25,000.

3. December 13, 1930 The Union Grass Valley, CA
Article from The Union, December 13, 1930

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Article Text

BANK SUSPENDED. GROTON (S. D.). Dec. The Brown County Banking company suspended through action of the directors following heavy withdrawal of funds. The capitalization is $25,000.

4. December 13, 1930 Omaha World-Herald Omaha, NE
Article from Omaha World-Herald, December 13, 1930

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Article Text

Three Dakota Banks Into Hands of State Sioux Falls, S. D., Dec. Three South Dakota banks placed hands of the banking department today order their board directors. The Security State bank of Gayville was closed pending tion. The Citizens' State bank Colman. capitalized at 10 thousand dollars Brown County Banking company of Gorton, capitalized 25 thousand dollars, also closed their doors.