Articles (Jan 31–Feb 1, 1933) report the Iowa State Savings Bank placed under supervision of the state banking department and the mayor declared a two-week banking holiday. No explicit run on this bank is described; the holiday was declared to avoid a possible run on the First National. There is no mention of permanent closure or receivership; the action appears to be a temporary suspension under government supervision, so I classify as a suspension with implied temporary shutdown (likely to reopen).
Events (1)
1.January 31, 1933Suspension
Cause
Government Action
Cause Details
Bank announced it would be operated under supervision of the state banking department; mayor declared a two-week banking holiday to avoid runs; suspension appears to be by/state supervision/government action
Newspaper Excerpt
two-week banking holiday here after officers of the Iowa State Savings bank announced the bank would be operated hereafter under supervision of the state banking department.
Source
newspapers
Newspaper Articles (3)
1.January 31, 1933Globe-GazetteMason City, IA
Click image to open full size in new tab
Article Text
Creston Mayor Calls 2 Weeks Bank Holiday
Ray Emerson today declared a two weeks' banking holiday here after officers of the Iowa State Savings bank announced that the bank would be operated hereafter under supervision of the state bank. ing department. To comply with Mayor Emerson's holiday proclamation not the First National bank did open this Emerson clared to said the morning holiday was Mayor deavoid possible run on the National bank and would be for "two weeks or longer.' that it
2.February 1, 1933Iowa City Press-CitizenIowa City, IA
Click image to open full size in new tab
Article Text
Mayor of Creston Declares 2 Weeks Banking Holiday
CRESTON S Ray Emerson Tuesday declared a two week's banking holiday here after officers of the Iowa State Savings bank announced that the bank would be operated hereafter under supervision of the state banking department To comply with Mayor Emer son's holiday proclamation. the First National bank did not open Mayor Emerson said the holiday was declared to avoid R possible run on the national bank and that
3.February 1, 1933The Omaha Morning Bee-NewsOmaha, NE
Click image to open full size in new tab
Article Text
CRESTON CALLS
CRESTON. Ia., Jan. 31, Mayor Ray Emerson Tuesday declared two-week banking hollday here after officers of the Iowa State Savings bank announced the bank would be operated hereafter under supervision of the state banking department. To comply with Mayor Emerholiday proclamation. the First National bank did not open Tuesday morning. Mayor Emerson said the holiday was declared avoid possible run on the National and that it would be for weeks or longer The Farmers and Merchants' Savings bank. the only other bank here, went under supervision of the state banking department several days ago.
