Bank of South Hill - South Hill, VA

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: December 27, 1930
Location: South Hill, Virginia (36.726, -78.129)

Metadata

Model: gpt-5-mini
Short Digest: fa0c9de1

Response Measures

None

Description

The bank suspended business on Dec 27, 1930 (state commissioner announcement). A subsequent Oct 23, 1931 dispatch reports South Hill expected to reopen shortly under depositors' agreements. Articles attribute suspensions to temporary depositor nervousness during a weak tobacco harvest (local economic shock), not a discrete run triggered by misinformation.

Events (2)

1. December 27, 1930 Suspension

Cause: Local Shock
Cause Details: Suspension occurred during the tobacco harvest when prices were low and depositors were nervous; described as temporary nervousness tied to local crop/price conditions.
Newspaper Excerpt: M. E. Bristow, State commissioner of insurance and banking, today announced that the Bank of South Hill, at South Hill, Va., had suspended business.
Source: newspapers

2. October 23, 1931 Reopening

Newspaper Excerpt: Banks at La Cross and Lawrenceville have already reopened, said Commissioner Bristow, and banks at Boydton, Keysville, Broadnax and South Hill are expected to open within a few days under customers' agreements.
Source: newspapers

Newspaper Articles (3)

1. December 28, 1930 Evening Star Washington, DC

Article from Evening Star, December 28, 1930

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Article Text

VIRGINIA BANK CLOSES State Commissioner Announces South Hill Institution Suspends. RICHMOND, Va., December 27.-M. E. Bristow, State commissioner of insurance and banking, today announced that the Bank of South Hill, at South Hill, Va., had suspended business. The commissioner left Richmond for Pamplin to attend a meeting of the board of directors of the State Bank of Pamplin, which suspended yesterday. WATER-FRONT PROPERTY. WATER-FRONT PROPERTIES-THIS IS A BUYERS MARKET CHAS. F. LEE, Lee Bldg., Annapolis, Md. SALE-SUBURBAN. BALLSTON, VA.-SEVEN-ROOM & BATH bungalow; corner lot alone worth $6,000: will sacrifice entire property for $4,750 terms like rent. B. M. HEDRICK, owner, Clarendon. Va. Phone Clar. 302. 28* NO CASH PAYMENT-$45 MONTHLY. INcludes int. and principal; price, $5,900; attractive seven-room home with bath and all modern improvements: basement with laundry; large front porch. slate roof; lot 90x150 with large fruit and shade trees; half block from boulevard, between Hyattsville and University Park, Md. Schools, car and bus service Owner and builder, W. R. WILSON, 2542 13th st. n.w. Call Adams 0566. FOR SALE-BUNGALOW, MADE-OVERnew: 5 rms., ba., nearby Md.; $5.750. $200 cash, $40 mo. Also $3,750, $100 cash, $35 mo. Clev. 4733. 10 ACRES, NEAR E. RIVERDALE: 6-ROOM bungalow, bath. elec., cellar, fur. heat; orchard. gar., chicken house: on good road. Priced for quick sale. E. M. AIKEN, 927 15th st. Nat. 3556: eves., Wis. 3293. $1,875 NEW BUNGALOWS: TERMS, $200 cash, $20 monthly covers all expense: near two golf courses. in developed subdivision of 40 homes. A postal or phone call will bring you the picture and full description. No obligations. No salesman will bother you I want you to see this remarkable value. GEO. E. JOHNSON. owner and builder. 308 10th st. n.e. Lin. 4496. SAVE $750 BY BUYING NOW. 4-rm bungalow, bath. all modern improvements, glassed-in sleeping porch; large lot: just recently painted inside and out and papered. Price. $3,000: $50 cash, $35 per month, including all interest. O. B. ZANTZINGER CO., Hyattsville, Md. Hyattsville 72. SAVE $1,000 BY BUYING NOW. 4-rm. bungalow, 4 acres of ground, suitable for chicken farm. gravel bank. Price, $2,250; $50 down, $25 per month. O. B. ZANTZINGER CO., Hyattsville 72. Hyattsvile, Md. COLORED-WILL SACRIFICE MY BEAUTIful 4-room bungalow. bath, electricity, gas, for $2,400. payable $50 cash, balance $25 per month. large lot. Unusual bargain. Owner on premises from 10 a.m. to 8 p.m. daily. 4500 Gault pl. n.e., Deanwood. Will sell first that comes. Immediate possession. Take District line car at N. Y. ave. and get off at 44th st., walk down 44th to Gault. WOODRIDGE. 3116 Newton St. N.E. 5 rooms and bath. 2-car garage, deep lot; completely reconditioned. Open All Day Sunday. EDW. M. WILLIS. Nat. 7479. Tower Bldg. LYON VILLAGE. Bungalow of Colonial design is offered at substantial reduction. making it the best buy we have ever offered in this community. Five rooms. bath, h.-w.h.: garage. Price. $7.250. Terms reasonable. LYON AND FITCH. INC. Clarendon 650. WOODRIDGE BARGAINS. Lovely brick home. oak floors, paved street and alley, near R. I. Ave., stores and school. For quick sale, $7,350. Easy terms. H. C. MAYNOR, 2605 Brentwood rd. n.e. North 4338. BRICK BUNGALOW-$6,950. Built for Owner's Home. 5 rooms. full tile bath. cak floors. hotwater heat: electricity; open fireplace; space on 2nd floor for 3 large rooms and extra bath. Cement porch, daylight basement: large lot with shade trees. Close to high and graded schools. Small cash payment and easy terms. C. W. VAN WAGNER. 223 Cedar st., Takoma Park. D. C. Georgia 1726. TAKOMA BARGAIN. $4.200. 5-room cottage, a.m.i.; 2 large lots; paved street. $5,500. Takoma bungalow. 5 rooms. bath and attic: refinished like new. One of the best neighborhoods in the park, convenient to school and stores. Hot-water heat. Attractive shrubbery and trees. Large lot. worth $2,000 or more. Property now clear, will be financed to suit purchaser. NORTH WASHINGTON. $8,750. 4½ acres, comfortable 6-room house. with modern improvements: bath. furnace, electricity: on main pike. Beautiful old trees, ideal home site. Several outbuildings, tenant house and shop: all electrically lighted. A very desirable country home, very cheap. R. D. LILLIE, New Address. 266 Carroll st., Takoma, D. C. Georgia 3300-3301

2. December 28, 1930 Chattanooga Daily Times Chattanooga, TN

Article from Chattanooga Daily Times, December 28, 1930

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Article Text

Bank Suspensions. EDENTON, N. Dec. 27 Citizens bank, of Edenton, was closed today order of the board of direc"for protection The Its last listed $345 and of 662.97. RICHMOND, Va., Dec 27 of and banking, today the Bank Southill, at Southill, Va., had suspended business.

3. October 23, 1931 Evening Star Washington, DC

Article from Evening Star, October 23, 1931

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Article Text

REOPENING OF BANKS IN VIRGINIA SEEN State Commissioner Bristow Expects Tobacco Belt Institutions to Resume Business. Special Dispatch to The Star. RICHMOND, Va., October 23.-Small banks in the tobacco belt which suspended business during the harvest of the crop, when prices were so low, will reopen shortly, according to an opinion expressed by M. E. Bristow, commissioner of insurance and banking, who has just returned from a series of depositors' meetings in Southern Virginia. "The banks are perfectly solvent." Mr. Bristow said, and in practically every case the customers have agreed upon a plan whereby the withdrawals will be kept within normal bounds. "The suspensions have been due to nothing more than a temporary nervousness of depositors which now has evaporated. for in every case I have seen the depositors have entered into the arrangements which will keep withdrawals at a reasonable ratio to deposits and to the slower-moving assets. "Most of these banks, including the smallest of them, could work out their difficulties without recourse to the new credit pool, but of course this will help them. "The assets which have been frozen to some extent during the business crisis largely are local obligations, many of them obligations of the very depositors whose anxiety caused the institutions to suspend temporarily. They realize this now that they have met together and talked over their business." Banks at La Cross and Lawrenceville have already reopened, said Commissioner Bristow, and banks at Boydton, Keysville, Broadnax and South Hill are expected to open within a few days under customers' agreements.