23036. Clarksburg Trust Company (Clarksburg, WV)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
trust company
Start Date
June 8, 1929
Location
Clarksburg, West Virginia (39.281, -80.345)

Metadata

Model
gpt-5-mini
Short Digest
0387af64

Response Measures

Full suspension, Books examined

Other: Board turned the company over to the State Banking Commission; receiver later appointed.

Description

June 1929 article reports an unusual run and the board turned the company over to the State Banking Commission (suspension). The commission initially said it would reopen in about two weeks, but a May 1, 1930 article shows a receiver was appointed for the Clarksburg Trust Company, indicating permanent closure/receivership. Cause of the withdrawals is not specified in the articles, so classified as 'other'.

Events (3)
1. June 8, 1929 Run
Cause Details
Article states unusual withdrawals over the prior ten days but gives no explanation or attribution (no rumor or specific adverse information mentioned).
Measures
Board turned the company over to the State Banking Commission; bank closed pending action (commission said would reopen in about two weeks).
Newspaper Excerpt
UNUSUAL RUN CLOSES WEST VIRGINIA BANK ... The Clarksburg Trust Company ... was The Board of Directors announced It the company over to the State Banking Commission because of unusual withdrawals of funds during the last ten days.
Source
newspapers
2. June 8, 1929 Suspension
Cause Details
Suspension followed the unusual withdrawals/run; bank was placed under State Banking Commission control.
Newspaper Excerpt
The Board of Directors announced It the company over to the State Banking Commission because of unusual withdrawals of funds during the last ten days. The commission said the company. would reopen in about two weeks.
Source
newspapers
3. May 1, 1930 Receivership
Newspaper Excerpt
State Banking Commissioner L. R. Charter Jr., today appointed John H. Barringer, examiner, receiver for 11 closed banks. The institutions are: The Clarksburg Trust Company ...
Source
newspapers

Newspaper Articles (4)
1. June 8, 1929 St. Louis Globe-Democrat St. Louis, MO
Article from St. Louis Globe-Democrat, June 8, 1929

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Article Text

UNUSUAL RUN CLOSES WEST VIRGINIA BANK By Associated Press. CLA RKSBURG, W. VA., June :The Clarksburg Trust Company. with resources more than $2,000,000 and deposits of $1,500,000, was The Board of Directors announced It the company over to the State Banking Commission because of "unusual" withdrawals of funds during the last ten days. The commission said the company. would reopen in about two weeks.

2. May 2, 1930 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, May 2, 1930

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Article Text

BANK RECEIVER NAMED. ENQUIRER BUREAU SPECIAL DISPATCH. Charleston. W. May 1-State Banking L. R. Charter Jr., today appointed John H. Bar. ringer, an be receiver for 11 closed banks. The institutions The Clarksburg Trust Company and the Farmers Bank, both Clarksburg: Bank of Jacksonburg. Jacksonburg the Tunnelport Bank, the Lumberman Pullman: the Auburn Exchange Bank of Auburn: the Bank of Cairo: the M. and M. Savings Bank of Grafton: the Commercial Morganand the Peoples Bank of Phil-

3. May 2, 1930 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, May 2, 1930

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Article Text

BANK RECEIVER NAMED ENQUIRER Charleston, W. Va., May 1-State Charter Jr., appointed John H. Barringer, examiner, receiver for closed banks. The institutions are: The Clarksburg Trust Company and the Farmers Bank, both Clarksburg: Bank of Jacksonburg, Jacksonburg: the Tunnelport Bank, Tunnelton: the Lumberman Bank. Pullman: the Exchange Bank the Bank of Cairo: the M. and M. Savings Bank of Grafton: the Bank of Morganand the Peoples Bank of Phillippi.

4. May 2, 1930 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, May 2, 1930

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Article Text

BANK RECEIVER NAMED. BUREAU SPECIAL Charleston, W. Va., May 1-State Banking Commissioner L. R. Charter Jr., today appointed John H. Barringer. examiner, be receiver for 11 closed banks. The Institutions are: The Clarksburg Trust Company and the Farmers Bank, both Clarksburg: The Bank of Jacksonburg. Jacksonburg: the Tunnelport Bank, Tunnelton: the Lumberman Bank. Pullman: the Auburn Bank of Auburn: the Bank of Cairo: the M. and M. Savings Bank of Grafton: the Morganthe Peoples Bank of Phillippi.