Dickenson County Bank - Clintwood, VA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 27, 1931
Location: Clintwood, Virginia (37.150, -82.456)

Metadata

Model: gpt-5-mini
Short Digest: ac71a73a

Response Measures

None

Description

Articles report the Dickenson County Bank failed to open its doors (late March 1931), a receiver (H. M. Bellamy) was appointed, and depositors gathered at the closed bank. The closure appears permanent (receiver appointed and press reference to depositors being hit), with no clear prior run causing the suspension; cause cited is depreciation in value of real-estate collateral (asset impairment). Dates: bank failed to open the Friday before Mar 30, 1931; receiver appointment reported Mar 30, 1931 and in early April. Bank type not explicitly stated; name 'County Bank' does not imply National/State/Trust so set to unknown.

Events (2)

1. March 27, 1931 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank became frozen due to depreciation in value of real-estate given as security for loans, impairing capital and causing inability to open/meet payments.
Newspaper Excerpt: failed to open its doors last Friday
Source: newspapers

2. March 30, 1931 Receivership

Newspaper Excerpt: H. M. Bellamy of Clintwood has been appointed receiver for the Dickenson County Bank which failed to open its doors last Friday, It was announced today at the offices of M. E. Bristow State of Insurance and Banking
Source: newspapers

Newspaper Articles (5)

1. March 28, 1931 Danville Register and Bee Danville, VA

Article from Danville Register and Bee, March 28, 1931

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Article Text

Grant Authority For Appointment Of Bank Receiver Va., March Authority for appointment of ceiver the Dickenson county out bank Clintwood was granted day by state corporation mission on application Bristow, which has branches Dante, failed to open doors this morning and repreletters sentatives the state banking vision were placed in charge. YOU "Frozen given Bristow one chief for placing the bank And ceivership, the stating institution which will impair out its capital and at $100,- Mt. Texas Holstein, 16,984.8 pounds of around

2. March 30, 1931 The Roanoke Times Roanoke, VA

Article from The Roanoke Times, March 30, 1931

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Article Text

Depositors Are Hit Hard By Closing Of Dickenson Bank Clintwood. March 29 County Bank. which closed resources of more dollars capital $150,000. Presswas president. He succeed John of the closing. of according the "frozen" notes brought about by attendant value of real estate which had been given as security of these H. M. cashier of the bank, by Judge of the he indicates that the depositors will ceive all their funds. The bank was organized more than 30 years numbered among its customers majority of the citizens of the whom hit by the failure. day since closing large crowd gathered about the The branch banks at at The Clinchfield Coal and M. Ritter Lumber Company, were among the bank's chief customers.

3. March 31, 1931 The News and Advance Lynchburg, VA

Article from The News and Advance, March 31, 1931

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Bruised Shin Reveals Big Australian Nugget Perth Austriia, March 30 Jimmy Larcombe, 17. son of gold fossicker, walking along dusty bush track to his camp, tripped and fell. He sat nursing bruised shin and then noticed he had over something that was glittering. It was the "Golden Eagle.' the largest nugget ever found in Western It weighs 1.123 ounces and is worth more than The made near the discovery was new Larkinville alluvial field about miles fr the once famous Coolgardie goldfield Such rush started that some newspapers urge that the instead of giving idle men the dole. should grub-stake them. BANK RECEIVER NAMED Richmond, March 30 (AP)-H. M. Bellamy of Clintwood has been appointed receiver for Dickenson County Bank which falled to open its doors last Friday, It was announced today at the offices of M. E. Bristow state of insurance and banking THEY FOUGHT FOR CAESAR Besancon France March 30. (AP) -Bones of squad of Roman naires who 1900 years ago helped Ju. hus Caesar discover that "all Gaul divided into three parts.' were found in quarry here but they crumbled dust when archaeologists tried to move them

4. March 31, 1931 Richmond Times-Dispatch Richmond, VA

Article from Richmond Times-Dispatch, March 31, 1931

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Virginia Briefs path nine miles from Luray, covered WILLIAMSBURG, VA., March 30with leaves. Sours was arrested when Riordon Floating School bloodhounds followed a trail to his left today after three house. months' stay for of famous spots on the Virginia Peninsula. The Dickenson County Bank school will disband at Washington for the Easter holidays The school Receiver Is Appointed will resume activities Highland Y., its home site. One hundred H. M. Bellamy of Clintwood has students and fifteen members of the appointed receiver for the Dickfaculty were on docks as the enson County Bank which failed William and Mary College band open its doors last Friday, was said and students gave them rousing yesterday the offices of M E. Bristow State of Insurance and Banking The bank which was capitalized LYNCHBURG, VA., March 30-(P) $100,000 and had surplus of $35,000 -Snows of last week and Saturday's freshet had two branches, one at Dante and rain caused slight in the the other at Clincheo. James River today. when the stage was 6.4 feet. This was the highest the river has been since March 8. Waynesville Bank Reopens 1930. The crest of the rise had been WAYNESVILLE N. C., March 30reached when the observation was (P)-The Citixens' Bank and Trust made this morning Company. which last fall during the Western North financial LURAY VA. March 30 emergency by the closing David Sours, mountain will of the Central Bank and Trust Comgo on trial tomorrow on charge pany, Asheville reopened today. the best playwright and dramatic talWashington Memorial ent in the country will be utilized. Athenaeum Proposed These plans are fitting gesture, it is believed by the city government Alexandria Plans Building as on the part of the city and the State Part of Bi-Centennial of Virginia, towards the bicentennial celebration because of the historic inALEXANDRIA VA. March 30-(P) terest of this section as the home of -Plans are under the guidance of the city of Alexandria and the Washington and other early patriots Alexandria Chamber of Commerce for of the nation group of buildings. to be known as the Washington Memorial to on the hills west of Two Horseback Riders the town. unique in the history of American Are Injured by Auto The idea had its inception in the

5. April 9, 1931 The Post Big Stone Gap, VA

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BELLAMY NAMED BANK RECEIVER Clintwood, April Dickenson County Bank, which closed here Friday had more than million dollars and and surplus Pressley, Clintwood, was president. He was recently electsucceed John W. Flannagan, Bristol. the bank, according the examiners, "frozen" brought about by the financial and tendant depreciation in the value real estate which had been givof these Bellamy, cashier of the bank, named receiver by Judge Lively, of the circuit and he indicates that the depositors receive practically their funds. bank organized more than 30 years ago. numbered among its majority of the of the county, whom hard hit by the failEach day since the closing large crowd gathered about the doors. The bank included branch banks Clincheo and Dante. The Clinchfield Coal Corporation Ritter Lumber Company, the bank's chief cusamong tomers.