20752. Bank of Maynardville (Maynardville, TN)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
state
Start Date
November 30, 1930
Location
Maynardville, Tennessee (36.251, -83.797)

Metadata

Model
gpt-5-mini
Short Digest
05b70412

Response Measures

Capital injected, Full suspension, Books examined

Description

Multiple syndicated articles (Dec 3–4, 1930) report the small Bank of Maynardville suspended payment after heavy withdrawals (a depositor run/liquidity crisis), then reopened after directors deposited $10,000 and large depositors agreed to leave funds for up to a year. Suspension occurred 'several days' before reopening; reopening reported Dec 3–4, 1930. I infer a state-chartered small bank from context (no National/Trust in name).

Events (3)
1. November 30, 1930 Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals (liquidity squeeze) as many funds were in loans not immediately collectible; bank forced to suspend payments.
Measures
Directors deposited $10,000; many large depositors agreed in writing to leave funds for up to a year or limit monthly withdrawals.
Newspaper Excerpt
The bank ... was forced to close on account of heavy withdrawals.
Source
newspapers
2. November 30, 1930 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspension followed heavy withdrawals and limited cash on hand (only $1,300 in vault when suspended); assets tied up in loans not immediately collectible.
Newspaper Excerpt
The Bank of Maynardville, a small bank that suspended business several days ago...
Source
newspapers
3. December 3, 1930 Reopening
Newspaper Excerpt
The Bank of Maynardville ... reopened yesterday. The bank, officials said, was forced to close on account of heavy withdrawals. The reopening was approved by the State bank examiner after the directors deposited $10,000 and many large depositors agreed to leave their money in the bank for a year.
Source
newspapers

Newspaper Articles (9)
1. December 4, 1930 St. Louis Post-Dispatch St. Louis, MO
Article from St. Louis Post-Dispatch, December 4, 1930

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Article Text

Funeral same day WOMAN WHO BLAMED HEAT St. James Interment FOR SLAYING FREED BY JURY was a member James Ladies Washington Resident Contended papers please copy. SuedShe Did Not Know She Had service. (c4) Shot Husband. William Dec. 4.-A Edmunds, brother of Mrs Jack Witt woman's plea that the intense heat William H. and of last summer superinduced Funeral Thursday Laughlin parlors. 2301 Lafayette. Rev mental condition that led her to Dunlavey officiating. kill her husband was accepted yesENT. MARY (nee 85 terday jury in acquitting her Dec. 1930 mother of second degree murder. Phillip William Mrs. Myrtle Williams admitted Marie Frank Mrs. Minnie Gaffney. Mrs. shooting her husband last July, but Insisted she did not know she had Hull and our and grandmother. it-grandmother committed the act until aroused by Funeral from Hoffmeister's chapel. 7814 the report of the gun. Closed Tennessee Bank Reopens. Mount Hope Cemetery By Dec. 4.-The Bank of Maynardville. a The quickest way to get home or small bank that suspended business office help-through a Post-Disseveral days ago, reopened yester- patch Want Ad. day.

2. December 4, 1930 The Greenville News Greenville, SC
Article from The Greenville News, December 4, 1930

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Article Text

PUBLISHER SUFFOCATES NEW YORK, Dec. 3.-Courtland Hunter Young, wealthy magazine publisher. was suffocated today by smoke from fire in his richlv furnished apartment on West Fiftyfourth street. BANK REOPENS Tenn., Dec. Bank of Maynardville small bank that suspended business several days ago reopened today.

3. December 4, 1930 Evening Star Washington, DC
Article from Evening Star, December 4, 1930

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Article Text

BANK IS REOPENED Officials Blame Withdrawals for Suspension of Institution. MAYNARDVILLE, Tenn., December 4 (AP). - The Bank of Maynardville, which suspended business several days ago, reopened yesterday. The bank, officials said, was forced to close on account of heavy withdrawals. The reopening was approved by the State bank examiner after the directors deposited $10,000 and many large depositors agreed to leave their money in the bank for a year.

4. December 4, 1930 Asheville Citizen-Times Asheville, NC
Article from Asheville Citizen-Times, December 4, 1930

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Article Text

SMALL TENNESSEE BANK REOPENED DOORS YESTERDAY Tenn. Dec The Bank of Maynardville bank that suspended business eral reopened The bank. officials was forced close account heavy opening was approved bank after the deposited $10,000 and many large agreed their money in the bank year.

5. December 4, 1930 The Los Angeles Times Los Angeles, CA
Article from The Los Angeles Times, December 4, 1930

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Article Text

THE DAY'S SUMMED UP FEATURES. Page Part Women's Pages, Clubs and clety, Pages and Part Markets and Financial, Pages to 19. Part Oil News, Page Part Pictures, Page Part II; Comics, Page 16, Part II. DRAMA. Pages and Part SHIPPING NEWS. Page 19, Part NEWS IN SPANISH. Page 20, NEWS OF SOUTHERN COUN. TIES. for $565,000 link Maricopa road over Sespe be let Pomona and Anaheim holiday array. Imperial Valley Associated Chambers Commerce urge revision State game laws prevent extinction wild life area. Ortega Highway hastened and extension planned. from burglar. Page 11, Part II. SPORTS. Wilcox to start for Trojans against Notre Dame Saturday. Mullins lost to Irish football team. Page 13, Part II. "Pop" Warner honors Rothert. Page Part Abbott to become manager Portland club. 13, Page Minor leagues over draft rule. Page 13, Part II. THE CITY. Huge swindle charged officers following arrest Hantington Park Company president. Page Part IL Climax expected today in grand jury's of city affairs. Page Part Supreme Court upholds State's and conservation act. Page Part Southern Federal Building program California slated run millions. Page Part Radiologists see mysterious making machine explained by likan. Page Part II. Supervisors to safeguard workers' under on county jobs. Page THE WEST. six Northern fornians to State posts. Page Part Arizona Papages assemble for anclent rites honor of St. Francis. Page Rehearing is asked on order for reduction gas rates here. Page 12, Part GENERAL EASTERN. Police framecharges New York women. Page Courtland H. Young, magazine publisher, killed by fumes fire in his apartment. Page 12, Part WASHINGTON. Hoover tells Congress in budget message that tax reduction must end Treasfaces Page Part farmers' only hope to cut production. Page Part Farm Board seek of $150,000,000. Page Senate conferees stand firm for Muscle Shoals plant; House to confer. Page Part Senate Campaign Committee goes ditures. with inquiry Davis expenPage Part Five-year immigration sought Johnson of Washington. Page Part Fight looms in Senate over ap. Hoover Tariff Power boards. Page Part Hoover asks tions Boulder Dam. Page 11, Part Economy efforts reflected in first large before House. Page 11, Part Wet bloc In House to oppose use funds for poisoning alcohol. Page FOREIGN. Slavery conditions charged Liberia League of Nations report. Page Part Soviet radio broadcast urging British workers to Part British government. Page Dollar opera is started Nice, noted artists. Page Part sharks species found in fresh waters. Page Part Reichstag hears outline of posed reform program. Page Part TENNESSEE BANK REOPENS MAYNARDVILLE (Tenn.) Dec. Bank of small that suspended business several days ago, reopened today.

6. December 4, 1930 The Asheville Times Asheville, NC
Article from The Asheville Times, December 4, 1930

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Article Text

Small Wake County Bank Fails to Open RALEIGH. N. C., Dec. The Zebulon Banking and company, only Wake miles east here, failed to for business open Bunn. vice-president and Eashier of the bank. said closing followed series withdrawals deposits. He said the directors hoped reopen the institution. Chamblee of Zebulon. was president Last Small County Capital of the bank was $56,500 and to the last according $145,580. call statement September 24, were Maynardsville, Tenn., Bank Re-Opens MAYNARDVILLE, Tenn., Dec. Bank of Maynardville, bank that suspended business Feveral days ago reopened Wednesday. bank, officials was said, (Continued on Page 14)

7. December 4, 1930 Florence Morning News Florence, SC
Article from Florence Morning News, December 4, 1930

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Article Text

BANK REOPENS MAYARDVILLE. Tenn., Dec. 3 (P)-The Bank of Maynardville small bank that suspended business several days ago reopened today The bank, officials said, was forced to close on account of heavy withdrawals The opening was approved by the States Bank Examiner after the directors deposited $10. 000 and many large depositors agreed to leave their money in the bank for year.

8. December 4, 1930 Redlands Daily Facts Redlands, CA
Article from Redlands Daily Facts, December 4, 1930

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Article Text

TENNESSEE BANK REOPENS MAYNARDVILLE Tenn., Dec The Bank of Maynardville, small bank that suspended busi ness several days ago, reopened yesterday.

9. December 5, 1930 The Knoxville Journal Knoxville, TN
Article from The Knoxville Journal, December 5, 1930

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Article Text

BANK OPEN AT MAYNARDVILLE Directors Put Up $10,000; Depositors Lend Assistance. (Knoxville Journal Special) ter a brief period of suspension, the Bank of Maynardville was reopened h yesterday and deposits were being received and checks paid as usual. The re-opening was with the sanction of State Bank Examiner W A. Vance, and Supt. P. H. Callahan, of the East Tennessee division of the state banking department, after the directors had put up $10,000 in cash, and heavy depositors of time certificates had agreed in writing to allow their money in some cases to remain for a year. and in other instances had agreed not to take out more than ten per cent. of their account each month The bank, which has a capital stock of $15,000, was forced to close on account of heavy withdrawals, considerable portion of the bank's assets being in loans not due or not immediately collectible. Only $1,300 in cash was in the vaults when the bank sus pended payment The examiner found the bank to be entirely solvent with assets of $62,000 and deposits of $38,000 With large depositors not calling for their money. it was evident to the state officials that the bank was in no danger of a run in the Every depositor who was asked to agree not to call for his or her money except as stipulated signed no effort being made to 600 the smaller depositors, whose calls would not inconvenience the bank in anyway Although the bank was only reopened at noon, a number of deposits were received A R. Acuff is president of the bank and C. Vaughn is cashier In the bank is $3,000 of state highway funds and $3,000 of county funds.