21639. Milford State Bank (Milford, VA)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
June 28, 1929
Location
Milford, Virginia (38.023, -77.373)

Metadata

Model
gpt-5-mini
Short Digest
09eefdba

Response Measures

None

Description

Articles (June 28, 1929) report the Milford State Bank was ordered closed pending a complete audit after the death of the cashier. Closure was ordered by state banking authorities for protection of depositors; described as temporary (audit ~10 days) and expected to reopen. OCR errors in names/dates corrected (Henry D. / Harry McWhirt references refer to the deceased cashier). No run reported.

Events (1)

1. June 28, 1929 Suspension
Cause
Government Action
Cause Details
State Bank Commission ordered the bank closed pending a complete audit after the death of the cashier (to protect depositors).
Newspaper Excerpt
closed while the books of institution are being audited ... closing was prevent run on the and for the general protection of depositors.
Source
newspapers

Newspaper Articles (3)

Article from The Daily News Leader, June 28, 1929

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Article Text

MILFORD IS CLOSED UP Richmond, June State bank fol the death of Henry the Milford State bank Milford, ordered that the bank be closed pending complete was found fatal wounded room few days by his and drea. attracted the explosion shotgun been health period, family and friends bank headquarters plained their action closing the bank saying that they did order prevent run on bank, for the general protection of depositors.


Article from Evening Herald Courier, June 28, 1929

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Article Text

Milford State Bank Ordered Closed For Audits Of Accounts RICHMOND. Va., June bank yesterday following the death of Henry D. cashies the Milford State ordered that the bank closed pending complete audit fits who has found fatally room few days ago by his wife and children were attracted by the explosion shot run. had been worrying over health for protracted family and friends State Bank officials explained their action closing the bank by saying that they did der prevent the bank" and for the general proter tion of depositors


Article from The Free Lance-Star, June 28, 1929

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Article Text

MILFORD BANK IS CLOSED FOR AUDIT Proceedings Unusual, Is Said. Banking Headquarters Say For "Protection of Depositors." The State Bank. which Harry McWhirt was cashier. closed while the books of institution are being audited. according today McWhirt died Monday his home in Milford from flicted gun-shot wound The closing bank followed the Bank cashiers high bank officials die resign their positions and the closing. said. will last only until audit been made. M. Bristow. deputy State Bank Commission said the audit had been taken out of the hands of regular State bank examand placed in the hands the Richmond audit firm of Pullen Co. It about ten days complete the audit According to information here today not usual close banks during audits this At State bank headquarters Richmond the statement made that the closing was prevent run on the and for the general protection of depoOther information to the effect that it believed that the affairs the bank good shape The Union Bank and Trust Company. of Bowling Green was stated. owns practically 51 per cent of the stock the cern The Union Bank and Trust Company has large assets. The Milford Bank 500. had surplus of about and showed posits of Before his death Mr McWhirt. the former cashier. wrote three notes: One his wife anothThomas Blanton president of the Union Bank and Trust Comof Bowling Green and the third to Clarence Hicks, of Port Royal. close personal friend. The contents of the notes have never been made public but that the note to Mr. Blanton read meeting the directors the Union Bank and Trust Company and filed with the minutes the meeting.