Bank of Spencer - Spencer, WV

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 1, 1912*
Location: Spencer, West Virginia (38.802, -81.351)

Metadata

Model: gpt-5-mini
Short Digest: 565ded99

Response Measures

None

Description

Article (The Calhoun Chronicle, 1912-03-12) reports the Bank of Spencer 'suspended business' and that its affairs are in the hands of the State Commissioner of Banking. Cause given: poor judgment in discounting paper. No run mentioned. Receiver/commissioner involvement implies closure/receivership.

Events (2)

1. March 1, 1912* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank had been in bad shape; 'Poor judgment in discounting paper' assigned as reason for closing.
Newspaper Excerpt: Word was received here the early part of last week that the Bank of Spencer had suspended business, and that its affairs were in the hands of the State Commissioner of Banking.
Source: newspapers

2. * Other

Newspaper Excerpt: Affairs were in the hands of the State Commissioner of Banking (indicates regulatory/receivership involvement).
Source: newspapers

Newspaper Articles (1)

1. March 12, 1912 The Calhoun Chronicle Grantsville, WV

Article from The Calhoun Chronicle, March 12, 1912

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Article Text

The Bank of Spencer Closes Its Boors. Word was received here the early part of last week that the Bank of Spencer had suspended business, and that its affairs were in the hands of the State Commissioner ofjPanking. The bank has been in bad shape for some time and its suspension was not entirely unexpected. Poor judgment in discounting paper is assigned as the reason for the bank closing. It is thought that the depositors will be paid in full, but the stock]holders will suffer heavily.