20000. Bank of Clover (Clover, SC)

Bank Information

Episode Type
Run → Suspension → Unsure
Bank Type
state
Start Date
December 15, 1930
Location
Clover, South Carolina (35.111, -81.226)

Metadata

Model
gpt-5-mini
Short Digest
25fa589e

Response Measures

Full suspension

Other: Bank closed its doors 'for protection of depositors' following heavy withdrawals elsewhere; no receivership or reopening reported in these articles.

Description

Articles (Dec 16, 1930) report heavy withdrawals and the bank closed its doors/failed to open for protection of depositors. The closing followed runs and the simultaneous failure/closure of the First National Bank of Gastonia (same president), so the immediate cause appears linked to runs triggered by local bank distress. No article reports a reopening or a receiver—status after closure is not given, so reopening is uncertain. OCR typos corrected (e.g., it's -> its).

Events (2)
1. December 15, 1930 Run
Cause
Local Banks
Cause Details
Heavy withdrawals and runs linked to the failure/closure of the First National Bank of Gastonia (same president), prompting deposit withdrawals at Clover.
Measures
None specifically beyond directors' protective action noted; depositors pledged support for local banks (other articles).
Newspaper Excerpt
closing of the Bank of Clover followed the failure of the First National Bank of Gastonia ... closing followed runs
Source
newspapers
2. December 16, 1930 Suspension
Cause
Local Banks
Cause Details
Bank failed to open/closed 'for protection of depositors' after heavy withdrawals and related regional bank failures (First National Bank of Gastonia).
Newspaper Excerpt
The Bank of Clover, York County, closed its doors today. ... a notice posted on the door stated this step was taken for protection of depositors.
Source
newspapers

Newspaper Articles (10)
1. 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

2. 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

3. 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.

4. 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.

5. December 16, 1930 The Herald Rock Hill, SC
Article from The Herald, December 16, 1930

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The Peoples Bank of Waco, in Cleveland county. N. C., with a capital of $5,000 and resources of $111,338.26. shut its doors today The Clayton Banking Co., of Clayton, capitalized at $75,000 and with resources of $393,731.36 did not open. Clayton is in Johnston county The bank of Aulander, in Bertie county, with capital of $80,125 and resources of $385,896.95, also did not open. Bank Of Clover Fails To Open (By Herald Correspondent) York, Dec. 16.-The Bank of Clover, capitalized at $30,000 and with assets totaling $552,848. according to its last statement of condition, failed to open its doors this morning. A notice posted on the door stated this step was tak en for protection of depositors. The closing of the Bank of Clover followed the failure of the First National Bank of Gastonia, N. C., both institutions having the same president, J. Lee Robinson. Persons in a position to know what they are talking about expressed the opinion that the Bank of Clover is solvent and that its closing would be only temporary S. A Sifford. of Clover, is vice president and A. M. Suggs is cashier. Deposits, according to the state-

6. 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

7. December 16, 1930 The Atlanta Journal Atlanta, GA
Article from The Atlanta Journal, December 16, 1930

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11 Banks in Carolina Fail to Open Doors CHARLOTTE N. Dec. 16 -(AP) North Carolina closed doors Tuesday Four banks in Gaston County, four the Asheville area of western North Carolina, in County, in Jornston County and Bertie County shut their Also bank at Clover, S. C., failed The First Bank of Gaswas largest of the with deposits of $3,066,072. on September The Peoples Bank of Waco, in Cleveland County capital of and resources of $111,338.26 doors. Clayton Banking Company, of $75,000 and with resources of $393,731.36. did not open. The Bank of Aulander, in Bertie County. with capital of and resources of also did not open. other three Gaston banks, the Gaston Loan Trust Company, of Gastonia the Bank of Dallas and the Peoples of Gastonia were comparat institutions. The combined $270,052.84 Closing of the Bank Franklin, in County, that without financial The bank's deposits Citizens listed at $416,800. The Bank which merged with the Franklin $125,000. last month. had deposits of The Bank of Swannanoa, with deposits of and the Bank of Clyde, with deposits $105,000. Monday failed to open after withsfanding runs Bank of Fletcher in Henderson in of heavy withdrawals after remaining open an listed hour and half. Its deposits at Bank Clover York County resources about to open Trust Companies NEW the market. Asked Express Comm Ital 255 Banca Sivilia Bank Europe Tr 570 Broadway Plaza Brooklyn Hanover Clinton Bk Tr Exchange County Guaranty Hibernia Inter Madison Trust is County Title Guar Manufacturers Midwood Mutual West Times Square 125 of Nr Am 2800 Westchester Title Tr Westchester

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 16-(AP)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 of the Clover institution. The bank had resources of about $650,000.

9. 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.

10. 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."