21539. Bank of Clinchburg (Clinchburg, VA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 29, 1930
Location
Clinchburg, Virginia (36.832, -81.815)

Metadata

Model
gpt-5-mini
Short Digest
161742a0

Response Measures

None

Description

The bank closed its doors April 29 (article 2). The Virginia State Corporation Commission filed that the bank was insolvent and a receiver (T. L. Hutton) was appointed May 10, 1930 (article 1). No run is described in the articles; sequence is suspension/closure with receivership for insolvency.

Events (3)
1. April 29, 1930 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed its doors April 29; State Corporation Commission alleges insolvency.
Newspaper Excerpt
the Bank of Clinchburg which closed its doors April 29.
Source
newspapers
2. May 10, 1930 Receivership
Newspaper Excerpt
A bill has been filed ... by the State Corporation Commission versus the Bank of Clinchburg, in which it was stated that the bank was insolvent, and requested that a receiver be appointed. The court entered an order appointing T. L. Hutton ... as receiver, requiring a bond of $47,000, which has been executed. (Richmond, May 10).  Also: Hutton has designated for the Bank of Clinchburg which closed its doors April 29. (May 12). (combined excerpts). ,
Source
newspapers
3. * Other
Source
newspapers

Newspaper Articles (2)
1. May 11, 1930 Evening Star Washington, DC
Article from Evening Star, May 11, 1930

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Article Text

RECEIVER IS ASKED Virginia Corporation Commission Alleges Bank Is Insolvent. Special Dispatch to The Star. RICHMOND, Va., May 10.-A bill has been filed in the Washington County, Va., Circuit Court by the State Corporation Commission versus the Bank of Clinchburg, in which it was stated that the bank was insolvent, and requested that a receiver be appointed. The court entered an order appointing T. L. Hutton, attorney, as receiver, requiring a bond of $47,000, which has been executed. The business of the institution will be adjusted as rapidly as possible,

2. May 13, 1930 The News and Advance Lynchburg, VA
Article from The News and Advance, May 13, 1930

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Article Text

Youth Completes Flight For Cross Country Mark New York, May 12 today held the unofficial junior flight record. having flown Los Angeles to New York in 28 hours, 18 minutes actual flying youthful pilot. who is the son of the late Brice Goldsborough. aeronautical engineer. who was lost with Mrs. Frances Grayson on transatlantic flight three years ago. landed at the York city airport in Flushing SOON TO LET CONTRACTS. Norfolk. May 12 -Contracts for to $800,000 at the Hampton Roads naval operating base will be ready for award soon after July when the appropriation becomes available and work on the structure should begin soon thereafter, it was said today. NAMED BANK RECEIVER Richmond, May Hutton has designated for the Bank of Clinchburg which closed its doors April 29. It was todav at the division of and banking of the state corporation commission.