Brown County Banking Company

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: 9895650b

Response Measures

Full suspension, Books examined

Other: Directors suspended operations after heavy withdrawals; state banking department placed the bank in its hands (state takeover/closure).

Description

Contemporary reports (Dec 12, 1930) state the bank suspended operations ... following a heavy withdrawal of funds. Directors suspended operations; another report notes the bank was placed into hands of the state banking department, indicating permanent closure. Cause of withdrawals is not explicitly identified as a rumor but coincided with closures of other Dakota banks, so classified as local_banks (contagion/pressures from other local banks).

Events (3)

1. December 11, 1930 Run

Cause: Local Banks
Cause Details: Heavy withdrawals of funds from depositors (a run), occurring in the context of other Dakota banks closing; contagion pressure from local bank failures or distress.
Measures: Directors suspended operations (bank suspended payments)
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: Local Banks
Cause Details: Directors suspended the bank after heavy depositor withdrawals (run), reported alongside other Dakota bank closures; initially a directors' suspension and subsequently placed into hands of the state banking department.
Newspaper Excerpt: The Brown County Banking company ... suspended operations yesterday through action taken by the directors following a heavy withdrawal of funds.
Source: newspapers

3. December 13, 1930 Other

Newspaper Excerpt: Three Dakota Banks Into Hands of State ... Brown County Banking company of Groton, capitalized 25 thousand dollars, also closed their doors. Placed in hands of the banking department today ... pending action of their boards of directors (state custody).
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.