19985. Clarksburg Trust Company (Clarksburg, WV)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
trust
Start Date
June 8, 1929
Location
Clarksburg, West Virginia (39.281, -80.345)

Metadata

Model
gpt-5-mini
Short Digest
d3c86a355cfbd130

Response Measures

None

Description

June 8, 1929 article reports an unusual run and that the Board turned the company over to the State Banking Commission and it was closed (commission said it would reopen in ~two weeks). Subsequent May 1, 1930 articles list the Clarksburg Trust Company among closed banks for which a receiver was appointed, indicating the institution ultimately went into receivership (permanent closure). Cause of initial run not specified beyond unusual withdrawals, so classified as 'other'.

Events (3)
1. June 8, 1929 Run
Cause Details
Article describes unusual withdrawals over about ten days but gives no specific trigger or rumor—no bank-specific scandal or external shock identified.
Measures
Board of Directors turned the company over to the State Banking Commission; bank closed by commission (commission said it would reopen in about two weeks).
Newspaper Excerpt
UNUSUAL RUN CLOSES WEST VIRGINIA BANK...The Clarksburg Trust Company...was [turned] over to the State Banking Commission because of unusual withdrawals of funds during the last ten days.
Source
newspapers
2. June 8, 1929 Suspension
Cause Details
Suspension/closing followed the run of unusual withdrawals; decision effected by the board and state banking commission.
Newspaper Excerpt
The Board of Directors announced [they turned] the company over to the State Banking Commission...the commission said the company would reopen in about two weeks.
Source
newspapers
3. May 1, 1930 Receivership
Newspaper Excerpt
State Banking [Commissioner] L. R. Charter Jr. today appointed John H. Barringer ... receiver for 11 closed banks. The institutions are: The Clarksburg Trust Company ... .
Source
newspapers

Newspaper Articles (4)
1. June 8, 1929 St. Louis Globe-Democrat St. Louis, MO
Article from St. Louis Globe-Democrat, June 8, 1929

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Article Text

UNUSUAL RUN CLOSES WEST VIRGINIA BANK By Associated Press. CLA RKSBURG, W. VA., June :The Clarksburg Trust Company. with resources more than $2,000,000 and deposits of $1,500,000, was The Board of Directors announced It the company over to the State Banking Commission because of "unusual" withdrawals of funds during the last ten days. The commission said the company. would reopen in about two weeks.

2. May 2, 1930 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, May 2, 1930

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Article Text

BANK RECEIVER NAMED. ENQUIRER BUREAU SPECIAL DISPATCH. Charleston. W. May 1-State Banking L. R. Charter Jr., today appointed John H. Bar. ringer, an be receiver for 11 closed banks. The institutions The Clarksburg Trust Company and the Farmers Bank, both Clarksburg: Bank of Jacksonburg. Jacksonburg the Tunnelport Bank, the Lumberman Pullman: the Auburn Exchange Bank of Auburn: the Bank of Cairo: the M. and M. Savings Bank of Grafton: the Commercial Morganand the Peoples Bank of Phil-

3. May 2, 1930 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, May 2, 1930

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Article Text

BANK RECEIVER NAMED ENQUIRER Charleston, W. Va., May 1-State Charter Jr., appointed John H. Barringer, examiner, receiver for closed banks. The institutions are: The Clarksburg Trust Company and the Farmers Bank, both Clarksburg: Bank of Jacksonburg, Jacksonburg: the Tunnelport Bank, Tunnelton: the Lumberman Bank. Pullman: the Exchange Bank the Bank of Cairo: the M. and M. Savings Bank of Grafton: the Bank of Morganand the Peoples Bank of Phillippi.

4. May 2, 1930 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, May 2, 1930

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Article Text

BANK RECEIVER NAMED. BUREAU SPECIAL Charleston, W. Va., May 1-State Banking Commissioner L. R. Charter Jr., today appointed John H. Barringer. examiner, be receiver for 11 closed banks. The Institutions are: The Clarksburg Trust Company and the Farmers Bank, both Clarksburg: The Bank of Jacksonburg. Jacksonburg: the Tunnelport Bank, Tunnelton: the Lumberman Bank. Pullman: the Auburn Bank of Auburn: the Bank of Cairo: the M. and M. Savings Bank of Grafton: the Morganthe Peoples Bank of Phillippi.