Planters & Merchants Bank - South Boston, VA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 2, 1932
Location: South Boston, Virginia (36.699, -78.901)

Metadata

Model: gpt-5-mini
Short Digest: a33fad4e

Response Measures

None

Description

Article (1932-07-02) states the bank is closed and under a receiver who will pay a dividend to depositors; indicates the bank is in receivership and not operating. No mention of a prior run; cause of failure not stated in the excerpt.

Events (2)

1. July 2, 1932 Other

Newspaper Excerpt: 24 Per Cent Dividend Will Be Paid From Closed Bank...receiver...will pay one day next week to depositors...distribution $335,000
Source: newspapers

2. July 2, 1932 Receivership

Newspaper Excerpt: receiver of the Planters and Merchants bank will per one day next week to depositors...distribution $335,000
Source: newspapers

Newspaper Articles (1)

1. July 2, 1932 News and Record Greensboro, NC

Article from News and Record, July 2, 1932

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Article Text

24 Per Cent Dividend Will Be Paid From Closed Bank Special Daily News) Danville AnnounceSouth Boston this morning receiver of the Planters and Merchants bank will per one day next week to depositors. which the distribution $335,000 Doepe, the also anthat the Boston National bank will probably pay dividend in the near future. as is recommend. ing this payment He his resignation as and will succeeded by William P. Lifsey Emporia