Multiple contemporaneous articles (July 17–18, 1930) report that the suicide of director William A. Thrall precipitated a run; the bank closed and was placed in the hands of the State Bank Examiner. A receiver was later named (Aug 23, 1930). Cause attributed to the suicide as immediate trigger plus prior bad loans (Buck Lumber) and rumors of weakness. OCR errors in some articles corrected (e.g., Robert C. Clark as state examiner; date of run is July 17–18, 1930).
Events (3)
1.July 17, 1930Run
Cause
Bank Specific Adverse Info
Cause Details
Run precipitated by suicide of director William A. Thrall; depositors already uneasy due to prior large loans to Buck Lumber Co. (bankrupt) and rumors of instability.
Measures
Bank closed its doors; State Bank Examiner Robert C. Clark barred doors and took charge.
Newspaper Excerpt
Echoes of the shot with which 75-year-old director of the West Rutland Trust Company killed himself ... flew from man to man and started a run which ended only when the bank closed its doors
Source
newspapers
2.July 17, 1930Suspension
Cause
Government Action
Cause Details
State Bank Examiner Robert C. Clark took charge and suspended operations after heavy withdrawals/run.
Newspaper Excerpt
the bank closed its doors and was placed in charge of the state bank examiner
Source
newspapers
3.August 23, 1930Receivership
Newspaper Excerpt
Named Knapp West Rutland Bank's Receiver ... Knapp ... named receiver of the West Rutland Trust Company which been closed since July 17 ... Clark, stated the bank closed after heavy withdrawals ... Knapp named receiver on petition of banking (authorities).
Source
newspapers
Newspaper Articles (20)
1.July 18, 1930The Springfield Daily RepublicanSpringfield, MA
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RUN ON BANK FOLLOWS SUICIDE
Bank Examiner at Rutland, Unable to Say Whether Institution Will Reopen A. Thrall Dead Rutland, July Echoes the shot with which 75director the West Rutland Trust company killed himself today flew down the streets from to man and started run which ended when the bank closed its doors and charge of the state bank examiner. William A. Thrall, elderly secretary and member of the board, had been dead by his only hours when State Bank Examiner Robert from behind doors he could not say the ban:: reopen. Working People's Bank The West is small posit their meager earnings. Since first depression well big had been less frequent. The had made the which bankrupt several During recent weeks had several large only ago of the company's officers. Carroli Rose West Rutland Rollin Richmond the presidency and Fred His office signed taken temporarily by HarThe bank old and $1,233,279, with of
2.July 18, 1930The Springfield Daily RepublicanSpringfield, MA
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RUN ON BANK FOLLOWS SUICIDE
Bank Examiner at Rutland, Vt., Unable to Say Whether Institution Will Reopen Thrall Dead Rutland, July Echcoes the shot with which director of the West Rutland Trust killed himself today flew down the streets from man to and run which ended when the bank closed its doors in charge of the state William Thrall, elderly the board, had been dead by his when Bank Robert Clark from behind the doors of the company he could whether the bank would reopen. say Working People's Bank The Rutland people's bank. their the depression has them as big and deposits, officials indicated, had been pany smaller and frequent. made large The which bankrupt During recent weeks there large only few days brief the officers. West Rutland Carroll succeeded the His signed taken by Harold 25 old and bank years assets with deposits
3.July 18, 1930Daily SentinelRome, NY
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Suicide of Director Puts Bank in Receiver's Hands
Rutland, Vt., July 18.. (P).-The West Rutland Trust Company was in the hands of the state bank examiner today after a run precipi tated by the suicide of William A. Thrall, 75-year-old director. Thrall, secretary of the board and an original incorporator of the institution, shot himself yesterday. Within a few hours, depositors, mainly laborers, small farmers and merchants, thronged before the doors and the bank closed. State bank examiner Robert C. Blark of Montpelier announced last ette will sing. John Seagle, baritone, will interpret "The Rogue Song" from the sound picture by the same name. A medley of theme songs will be presented by the Cavaliers male quartet as an added highlight.
There exists in Spain two main groups possessing licenses from the government and a few individual stations, also privately owned, which are rapidly disappearing. The tendency is to centralize activities in a single group. There is a system of license fees not strictly enforced. Revenue is realized partly by voluntary contributions and partly from the broadcasting of sponsored programs. night that he could not say whether the bank would reopen. The bank had made large loans to the Buck Lumber Company, which went bankrupt several months ago, and during recent weeks large withdrawals had been made. A few days ago an announcement revealed reorganization of the company's of ficers. Thrall had been chairman of the West Rutland Board of Selectmen for 30 years and had served two terms in the State Legislature. His widow, a daughter, Mrs. Thomas C. Ross, and son, William, survive. He had been a leading citizen for 50 years. The institution was the second Rutland County bank to close in the past several weeks. The Poult ney National Bank was closed last month by order of the National Bank examiners an d has not yet reopened.
4.July 18, 1930The Duluth News TribuneDuluth, MN
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Run on Bank Results From Suicide of Director
RUTLAND, VT., July director of the West Rutland Trust company today run on the bank until were closed was placed charge of the state bank examiner. William Thrall, elderly secretary and member the board, had been dead his own hand only few hours the state bank examiner, Robert Clark of Montpelier. nounced tonight from behind the barred doors of the he could not yet say whether the bank would reopen.
5.July 18, 1930St. Louis Post-DispatchSt. Louis, MO
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RUN CLOSES VERMONT BANK AFTER DIRECTOR ENDS LIFE
Examiner Takes Charge of West Rutland Trust Co. Following Heavy Withdrawals. RUTLAND, Press. July 18.-Following the suicide of William A. Thrall yesterday, a run was started on the West Rutland Trust Co., of which he was secretary and director, which ended only when the bank closed Its doors and was placed in charge of the State Bank Examiner. The examiner. Robert C. Clark of Montpelier, announced he could not yet say whether the bank would reopen. The West Rutland Trust Co. is a working people's bank, where laborers, small farmers and small merchants deposit their earnings. The company made large loans to the Buck Lumber Co. of this city, which went into bankrutpey several months ago.
6.July 18, 1930New Britain HeraldNew Britain, CT
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VERMONT BANK IN EXAMINER'S HANDS Run On Institution Follows Suicide of Director Rutland, VV., July 18.-(R)-The West Rutland Trust company was in the hands of the state bank examiner today after a run precipitated by the suicide of William A. Thrall, 75year-old director. Thrall, secretary of the board and an official incorporator of the institution, shot himself yesterday. Within a few hours, depositors, mainly laborers, small farmers and small merchants, thronged before the doors and the bank closed. State Bank Examiner Robert C. Clark of Montpelier announced last night that he could not say whether the bank would reopen. The bank had made large loans to the Buck Lumber company. which went bankrupt several months ago, and during recent weeks large withdrawals had been made. A few days ago an announcement revealed a reorganization of the company's officers. Thrall had been chairman of the West Rutland board of selectmen for 30 years and had served two terms in the state legislature. His widow, a daughter, Mrs. Thomas C. Ross, and a son. William, survive. He had been a leading citizen for 60 years. The institution was the second Rutland county bank to close in the past several weeks. The Poultney National bank was closed last month by order of the national bank examiners and has not yet reopened.
West Rutland Bank Director, Thrall, Commits Suicide And "Run" Bank Follows on
Ill With Lumbago
Depositors, Uneasy Because of Rumors Trust Company was in Weak Condition. Flock to Institution to
Withdraw Closes In Rutland County to Suspend
Within Last Few Weeks
(Special the Press) July director of committed suicide shooting himself through the heart, the West Rutland Trust Company closed its 1:30 o'clock this afternoon. following which started soon after of the shooting been learn-
Depositors, uneasy because of conduring the that the bank unsteadv flocked the institution during their After the bank had doors. scores persons stood deposit books the bank to in the weeks. the tional Bank order institution been making efforts Leading Citizen For 50 Years sulcide of Thrall came shock to dents West he been leading nearly Members his family said tonight he had been for months over the His wife found him after o'clock morning the floor barn in the rear home bullet through heart rifle by his contents members his family did not with Thrall was chairman of the West Rutland board on for 30 the term any of village. represented Rutland Legislature 1900 1902 held all of the excent road When the West Rutland pany was incorporated in 1905 he named director He held those offices until death.
(Continued Page 11)
8.July 18, 1930The Morning CallAllentown, PA
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BANKER'S
West Rutland, Vt., Trust Company Shuts Doors After Heavy Run
Rutland, Vermont, July the shot director West Trust company killed himself today blew down the streets from man started which ended only doors and was charge the state bank William A. Thrall, elderly secretary member board, had dead by his hand hours State Bank Robert Clark, Montpelier, he the bank West where laborers, small farmers small merchnts deposit their meager earnings. Since depression has as big company had been and frequent. The also made large Buck city, which went bankrupt several During recent weeks several The 25 years old $1,233,279, with of $916,163.
AUTHOR DIES
Greenwich, Conn., 17. Henry home heart He was native of New York city.
9.July 18, 1930The Tampa TribuneTampa, FL
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Vt., July Echoes of the shot with which 75year-old director of the West Rutland Trust company killed himself. started run which ended only when the bank closed today and was placed in charge of the state bank examiner. William Thrall. elderly secretary and member the board had been dead only hours when State Bank Examiner Robert C. Clark of Montpelier announced tonight that he could not yet say whether the bank would reopen The West Rutland institution is working people's bank. where laborers, small farmers and small merchants deposit their meagre earnings. Since the first of the year depression in business has touched them and deposits, company officials indicated, had smaller and less frequent. The company also had made large loans to the Buck Lumber company of this city. which went bankrupt several months ago.
SUICIDE STARTS RUN; EXAMINER SUSPENDS BANK
West Rutland Trust Company May Not Resume
DIRECTOR DEAD
William L. Thrall Shoots Himself and Depositors Demand Their Money
Rutland, 18 Wes: land Trust Company was in the hands the barik examiner today after run precipitated by the suicide of liam Thrall. year old director Thrall, secretary of the board and original incorporator the shot himself yesterday Within few hours depositors, mainly laborers, small farmers and small thronged before the doors and the closed Bank Examiner Robert Clark Montpelier announced last night that he could not whether the bank would The bank had made large loans Buck Lumber which during the recent weeks large withdraw als had been few days ago revealed reorganization the company's officers Thrall had chairman of the West Rutland board of selectmen for 30 years and had served terms in the state His daughter, Mrs. Thomas and William. He had been leading citizen The institution the second Rutland County bank close the past several weeks The Poultney National Bank closed last month by order the National Bank Examiners and has not Officials of the bank and residents the town which Mr Thrall leading citizen, were by the Members his family said yesterday afternoon that he had been worrying financial matters for nearsix months had been Mr. the past several to arise about years and an early morning his horsedrawn carriage Just what yesterday morning before the suicide something mystery number residents seeing streets in the that they before family that time of absence thought returned about Mrs. Thrall about that that her was not the house and his usual custom going barn hitch up the horse carriage she looked of the out window towards building She the door closed and Thrall always left while fixthe carriage she decided to Mrs Thrall found her husband the floor his side and bullet wound his heart Death had been He but its contents strictly for his family the context divulged Mr Thrall West Rutland's leading He was born there June 1855 and had always been resident He had been the mercanbusiness for 33 and had years long and successful career. holding the offices except road comand town clerk In he was elected the board selectmen land the his death had unusual distinction having office that board years, the longest term office ever held by any other person in West Rutland He was elected chairman of the board of select year When the West Rutland Trust pany organized 1905 Mr Thrall was director was one of the original He was also ted secretary of the institution posttion which he held until death was deeply interested in agriculand for 35 years maintained farm Pleasant street in West He also keenly interested the affairs town and the trust company In he was married to Carrie Besides his widow leaves and Mrs. Thomas Ross brother Walter Thrall, West Rutland Mrs. Walter York of Haven, Conn.
11.July 18, 1930Altoona TribuneAltoona, PA
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SUICIDE OF DIRECTOR STARTS RUN ON BANK
-Echoes of the shot with which a 75-year-old director of the West Rutland Trust company killed himself today flew down the streets and started a run which ended only when the bank closed its doors and was placed in charge of the state bank examiner. William A. Thrall elderly secretary and member of the board, had been dead by his own hand only few hours when the state bank examiner, Robert Clark of Montpelier, announced tonight from behind the barred doors of the trust company he could not yet say whether the bank would reopen. The West Rutland institution is working people's bank. where laborers, small farmers and small merchants deposit their earnings.
ECHOES OF FATAL SHOT START RUN ON BANK
RUTLAND, Vt., July 17.-Echoes of the shot with which 75-year-old director of the West Rutland Trust Company killed himself today flew down the streets from man to man and run which ended only when the bank closed its doors and was placed in charge of the state bank examiner. William A. Thrall. elderly secretary and member of the board. had been dead by his own hands only hours when the state bank examiner, Robert Clark of Montpelier, announced tonight from behind the barred doors of the trust company he could not yet say whether the bank would reopen.
BANKER A SUICIDE
Knowledge of This Started Run on West Rutland Bank Thursday Afternoon Rutland. July 18,-Four hours after William A. Thrall, 75. a director and one of the original incorporators had committed suicide by shooting himself through the heart, the West Rutland Trust company closed its doors 1:30 o'clock Thursday afternoon following a "run" on the bank which started soon after the news of the shooting had been learned. Depositors uneasy because of constant rumors during the past weeks that the bank was in a very unsteady condition, flocked to the institution during the morning to withdraw their savings. After the bank had closed its doors, scores of persons stood on the outside waving their deposit books. It is the second Rutland county bank to close in the past several weeks. Last month the Poultney Nataional bank was closed by order of the national bank examiners. Directors of the institution have been making efforts to re-open. The suicide of Mr. Thrall came as a shock to bank officials and residents of West Rutland, where he had been a leading citizen for nearly 50 years. Members of his family said tonight that he had been worrying for months over the condition of the bank. His wife found him shortly after 9:30 o'clock in the morning lying on the floor of a barn in the rear of his home with a bullet wound through his heart and a rifle by his side. He left a note the contents of which the members of his family did not wish to divulge. Mr. Thrall was chairman of the West Rutland board of selectmen serving on that board for 30 years, the longest term of office ever held by any resident of the village. He represented West Rutland in the legislature in 1900 and 1902 and had held all of the town offices except road commissioner and town clerk. When the West Rutland Trust company was incorporated in 1905 he was named director and elected secretary. He held those offices until his death.
14.July 18, 1930Star-HeraldScottsbluff, NE
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Run on Bank Begins Soon After Suicide
Rutland, Vermont, July 17. (AP)Echoes of the shot with which a 75year-old director of the West Rufland Trust company killed himself today flew down the streets "from man to man and started a run which ended only when the bank closed its doors
15.July 18, 1930Evansville Courier and PressEvansville, IN
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SUICIDE RESULTS IN 'RUN' ON
Institution Forced to Close Doors After 75-Year-Old Director Shoots Himself the shot with 75-year-old director the West Rutland Trust company killed himself today flew down the streets man man and started "run" ended only when the bank closed its doors and was placed in charge the state examiner William Thrall. elderly tary and member of the beard had been dead hand only few hours when the state bank exRobert C. Clark of Montaminer. announced tonight from behind the barred doors company could not yet say wheththe bank would The West Rutland institution is people's where labor. ers. small farmers and small merchants their earnings. Since the first the depression in business has touched them as well as big business deposits. company indicated. smaller and less frequent.
16.July 18, 1930The Herald-SunDurham, NC
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BANKER'S SUICIDE PRECEDES BIG RUN
Vermont Bank Placed In The Hands Ot State Examiner As Result Of Day's Run
Echoes of the shot with director of the land Trust company killed himself started run which ended only the bank closed doors and placed in charge of state bank The West Rutland working peoples where laborers, small farmers and deposit their meagre Since the first of the in business has touched as well as big business and company had been smaller The made large loans to the Lumber of this city, which eral months recent weeks there had been several large and only days ago brief revealed reof the company's officers Carroll B. Ross of Rutland succeeded to the presidency and Fred signed the of His place was taken temporarily by B. The is 25 assets on June were
Suicide of Director Causes Run on Bank
Echoes of the shot with which a 75director the West Rutland Trust company killed himself today flew down the streets from man to man and started run which ended only when the bank closed its doors and was placed in charge of the state bank examiner. William A. Thrall, elderly secretary and member of the board had been dead by his own hand only few hours when the state bank examiner, Robert C. Clark of Montpelier, announced tonight he could not yet say whether the bank would reopen. The West Rutland institution is a working people's bank, where laborers, small farmers and small merchants deposit their earnings.
Named Knapp West Rutland Bank's Receiver
Middletown Springs Man Appointed on Petition of Banking tors May Receive Nearly Full Amounts
(Special the Press) RUTLAND. Knapp Middletown today named receiver of the West Rutland Trust Company which been closed since July 17, when Banking Commissioner Robert Clark Montpelier took charge of the institution. was made by Judge Fred Bicknell of Windcounty court Clark, stated the closed after heavy due to which were in circulation at the time In statement to the press tonight, Clark says: felt that the bank need not have been closed the public had not become alarmed over insidious propaganda which appears have circulated direct intent to injure the bank. From present indications, expect to receive nearly the full amount of their deMr. Clark emphasized the fact that there no defalcations.
SUIT FOR
Wife of Real Estate Man Discontinues Action as Many Await Trial.
While crowd that filled every available seat in the county courtroom awaited yesterday afternoon trial of the divorce case brought by Mrs. Olive Hammond Wiltsle of this city against E. Dyer Wiltsie, real estate dealer, counsel for Wiltsie announced that the Mrs. had been discontinued. second time that spectators, who had turned out in large numbers the case, were disappointed. On Friday, May 15, there because the absence Mrs. Wiltsie's counsel, Jones, and of some important Attorney Edwin W. Lawrence of Lawrence, Stafford O'Brien and Attorney Leonard Wing of Fenton, Wing, Morse Jeffords, who represented libellee, opposed motion for yesterday. understood that one of the main reasons for not pressing the case was difficulty in securing the important witnesses for the Attorney General Jones movfor his was granted by Judge Allen R. Sturtevant. Suit for divorce was brought by Mrs. Wiltsie on grounds of intolerGoyette Case Heard. Judge Sturtevant reserved decision in contested divorce case, brought Mildred Goyette against Elzear M. Goyette of Wales street, which was tried in the morning. Several witnesses testified. George Goddard represented libellant and Jones Jones, the bellee.
Bank Suits Entered. Two suits brought by bank reamong those entered the county clerk's office yesterday. Gray Knapp Middletown Springs, receiver of the West Rutland Trust company. entered an tion for the foreclosure of mortgage, John O'Rourke West Rutland being the defendant. He also entered suit to collect notes, bank, given Stickney, Sargent Chase of Ludlow Webber Leamy land, represent B. Stickney this city entered appearance for James Farrell, receiver of the First Poultney, has started proceedings recover $500, which he claims due on notes from Leon Young of Poultney. Richard Prentiss, Ernest Lewis and thur Lewis, who conduct the busiknown Lewis Brothers Fred Barrett Poultney, were namtrustees. Lawrence, Stafford represent the receiver.
One Is $10,000 Auto Action; Are Brought by Bank Receivers.
Suits asking damages totaling $23,700 were filed in Rutland County court yesterday. Seven of the cases are attempts to collect funds, due the West Rutland Trust company the Bank. The these cases in one filed Bertha of asking damage injuries the result accident. James for the National Bank of Poultney has six suits through his counsel, Lawrence, Stafford O'Brien. Ernest Foley Fair Haven made defend$600 suit for recovery be due the bank. Orr of Poultney defendant another suit arising from note. $6000 are asked of him. Farrell in another the cases suing Matthew Foley Fair Haven for $2000 note. M. Lynch of Poultney defendant another of the suits arising from $1300 note due the bank, Alton Ward Poultney is being sued Farrell $600 note and Sarah Owens made defendant $500 case, also arising from note. Company Sued. Helen Cendrowski West Rutland, Squires, filed suit against the pany of Newark, asking $1200 Her based $1000 life insurance policy held late husband, Stanley Cendrowski, and payable her his death. Gray Knapp, receiver the West Rutland Trust company, has filed petition for $1500 mortgage making Murphy defendant. This heard the Court of Chancery Rutland county. Sargent Chase of Ludlow represent plaintiff. Courtney Flanders, Minnie Jones Rutland Walter Hanson Springfield, Mass., made defendants the $10,000 filed by Bertha Kenworthy of Ludfirm Stafford O'Brien. The plaintiff claims that she painful and injuries George Kenworthy in which was riding struck Clarendon owned Minnie Jones driven by Flanders. According plaint of the plaintiff, Flanders passHanson's car when the latter slowed up. As Flanders passHanson, the car driving tiff riding, Mrs. Kenworthy leges.
