20292. Chelsea State Bank (Chelsea, SD)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
August 12, 1931
Location
Chelsea, South Dakota (45.169, -98.740)

Metadata

Model
gpt-5-mini
Short Digest
e434cc5a

Response Measures

None

Description

Multiple contemporaneous newspaper reports (dated Aug 14–15, 1931) state that the Chelsea State Bank suspended business Wednesday with about $48,000 deposits. The articles give no mention of a depositor run, receivership, government takeover, or permanent closing. The suspension date inferred as Wednesday Aug 12, 1931 (papers published Aug 14). Cause is not specified in the reports. I classify as suspension_reopening because there is a suspension with no evidence of a run or permanent closure; reopening is plausible but not documented here (uncertainty noted).

Events (1)

1. August 12, 1931 Suspension
Cause Details
Contemporary reports simply state the bank suspended business; no cause (rumor, insolvency, correspondent failure, or government action) is specified in the articles.
Newspaper Excerpt
The Chelsea State Bank suspended business Wednesday with deposits of $48,000.
Source
newspapers

Newspaper Articles (5)

Article from The Daily Plainsman, August 14, 1931

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Article Text

Report Closing Of Chelsea Banks PIERRE. Aug. closing of two banks the South Dakota banking department today. The Avon State Bank closed today with deposits The bank had capital stock and $15,000 surplus. The Chelsea State Bank suspended with deposits The bank's capital totaled CATHOLIC LADIES DINNER


Article from Argus-Leader, August 14, 1931

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Article Text

General Motors Reports Increase in Assets New York, Aug. conbalance sheet of the General Motors as of June 30, published S. government and securities to compared with on December 31, and on June 30 1930 pamphlet report for the second previously showed earnings available the of share, from operations the like ago, share. Inventories June 30 had reduced to from $136,on December current assets were and current liabilities $88 The balance sheet listed total assets at against $1,315,813,059 on December AVON, CHELSEA BANKS CLOSE Pierre, Aug closing two banks was by the South Dakota banking department today. The Avon State bank closed today with deposits The bank capital stock of and Chelsea State suspended business deposof $48,000. The bank's capital totaled $15,000. The Detroit Tigers have bought McElreath, outfielder the Joplin Western association club.


Article from Rapid City Journal, August 14, 1931

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Article Text

TWO CLOSED Pierre, of two banks was reported by the South Dakota banking department today. The Avon State Bank closed today with deposits approximating $300,000 The bank had capital stock of $55,000 and $15,000 surplus The Chelsea State Bank suspended business Wednesday with deposits of $48,000. The bank's capital totaled


Article from Lead Daily Call, August 14, 1931

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Article Text

OF TWO SOUTH DAKOTA BANKS REPORTED PIERRE, Aug. closof two banks was reported by the South Dakota banking department today. The Avon State bank closed today with deposits of proximately $300,000. The bank had capital stock of $55,000 and $15,000 surplus. The Chelsea State bank suspended business with deposits $48,000. The bank's capital totalled


Article from Deadwood Pioneer-Times, August 15, 1931

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Article Text

Closing of Two South Dak. Banks Reported Aug. closing two banks was reported by the South Dakota banking department today The Avon State bank closed today with deposits of approximately $300,000 The bank had capital stock of $55,000 and $15,000 surplus. The Chelsea State bank suspended business Wednesday with deposits of The bank's capital totalled SOME HIGHWAYS CORRUGATED D., Aug. some parts of South Dakota aidhighway maintenance this week, but both gravel and earth roads are still corrugated in many places due to the continued lack of moisture.