2901. Bank of Homerville (Homerville, GA)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
January 21, 1931
Location
Homerville, Georgia (31.037, -82.747)

Metadata

Model
gpt-5-mini
Short Digest
b8467214

Response Measures

Accommodated withdrawals, Full suspension

Other: State banking department placed bank in hands for liquidation (receiver).

Description

Articles (Jan 21 and Jan 24, 1931) report the Bank of Homerville failed to open and directors attributed the closing to heavy withdrawals. The bank was turned over to the state banking department for liquidation, indicating permanent closure/receivership. The immediate trigger cited is heavy withdrawals (a run); the reports do not describe a discrete false-misinformation event. Bank charter type not stated explicitly; local county bank assumed state-chartered.

Events (3)
1. January 21, 1931 Receivership
Newspaper Excerpt
the bank would be in the hands of the state banking department for liquidation, and that they the opinion that able later to obtain 100 per cent of their ... The president the bank W. Musgrove. Its cashier G. A. Gibbs.
Source
newspapers
2. January 21, 1931 Run
Cause
Bank Specific Adverse Info
Cause Details
Directors cited heavy withdrawals that forced the bank to close; indicates depositor panic/withdrawals against the institution.
Measures
None reported prior to closure; directors turned the bank over to the state banking department for liquidation.
Newspaper Excerpt
The Bank of its doors today. The directors stated that the closing was to heavy withdrawals.
Source
newspapers
3. January 21, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank failed to open and was closed by directors after heavy withdrawals; placed in hands of state banking department for liquidation (indicating suspension/closure by directors and state action).
Newspaper Excerpt
HOMERVILLE Ga., Jan. The Bank of its doors today. The directors stated that the closing was to heavy withdrawals. They further stated that the bank would be in the hands of the state banking department for liquidation
Source
newspapers

Newspaper Articles (2)
1. January 21, 1931 The Atlanta Constitution Atlanta, GA
Article from The Atlanta Constitution, January 21, 1931

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Article Text

BANKING COMPANIES CLOSE IN MISSISSIPPI JACKSON, Miss., Jan. The First National Bank of Jackson, carrying deposits of approximately $2,000,000, failed to open for business today. notice posted on the front door stated that the of currency and the chief national bank examiner had advised to take over the for The $200,000 surplus of $203,000 as of December 31, 1930. A statement issued late last night by the board of directors said the tion was taken because of gradual withdrawal and seepage of deposits day by which culminated in practically run The also stated that the rumors had ing the bank condition, and to open today would only result in run on the bank. The state banking department announced that the Peoples Bank of Utica. 20 miles southwest of had closed its doors after brief riod of business this The banking officials said the closure was due inability of the to stem a started the institution opened for business notice posted on the door stated that the institution closed "by order the board of directors. Peoples bank was at $17,500. had surplus of $8,500, with deposits approximating $160,000. CITY TRUST COMPANY IS REPORTED SOLD. MIAMI, Fla. Jan. Miami Daily News the City Trust of the suspended City Bank or Miami, was sold today group headed Morgan S. president the Guardian Trust Company of Miami. Associated with Mr. McCormick in the purchase Bush, former official of the City National: Amos Travis, and R. C. Fenters, all of Miami, the paper said. HOMERVILLE BANK FAILS TO OPEN HOMERVILLE Ga., Jan. The Bank of its doors today. The directors stated that the closing was to heavy withdrawals. They further stated that the bank would be in the hands of the state banking department for liquidation, and that they the opinion that able later to obtain 100 per cent of their The president the bank W. Musgrove. Its cashier G. A. Gibbs. Cottonseed Oil. MEMPHIS. MEMPHIS, Tenn., -Cottonseed bids: February June August futures 27.80; August tons. NEW YORK NEW YORK cotton seed exchange lots March for little but firmer the when prices were five was due firmness in including 2,200 exchanges. January March May 7.49; NEW ORLEANS. NEW with little trading. yellow and prime closed at 6.94; May July August 7.21.

2. January 24, 1931 The Valdosta Daily Times Valdosta, GA
Article from The Valdosta Daily Times, January 24, 1931

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Article Text

HAPPENINGS about Manager Cahill of the Valdosta Gas Company, stated today that negroes, armed with wrenches, had appeared Valdosta homes stating that they representing the gas pany and were making adjustments on the pipes. that they were entrance to the homes with view committing some theft. The local company has no such employes and all of their employes reladily identifiable badges. event any unauthorized person of that type visits home to the the company that the householder inform either the company or the Valdosta police department promptly in order to arrests if possible. Class Meeting. Young Woman's Bible The of the First Baptist church class will hold its regular monthly business and social meeting the class room at the church 3:30 o'clock Tuesday afternoon, time and in day of the week the change and to present are the meeting. Gallons 13,478 people will Valdosta's have used gallons of water by February 11, the end of the city water works department fiscal year, Superintendent reported this morning. Gainey 11, 1930 to JanFrom February the city used 201,uary 1931, gallons of water pumped the water works, Mr. Gainey by February 11, the water said. By works will have pumped gallons for the city's use. The per capita use of water during the year in Valdosta is more than 16,000 gallons. The water of the city is pumped from two deep wells. Corporation Meeting Every business man and farmin Lowndes county is being urged to attend the very important meeting of the organizers and founders of the Southern Finance Corporation of Georgia be held at the Chamber of Commerce o'clock Friday afternoon, January 30. Business of great importance to be taken the meeting and crowd expected to attend. Money Last Monday afternoon and night the and employees the Clinch County Bank, Homerville, were busily arranging their offices, putting every available dollar in vaults, and preparing for business next For, Monday morning, the Bank of Homerville failed to open its doors and the officials the Clinch County Bank, of any other bank in such case, expected to be greeted on Tuesday by long lines anxious depositors wishing draw their money out. Guards were stationed around the bank Tuesday morning to ward off possible banditry. The bank officials reasoned that their bank was inevitable and they were pared to pay off depositors dollar for dollar. Tuesday morning dawned and things around the bank were as usual and no one seemed to be in hurry to get his her money The run never came and at the end of the day the books of the bank showed that more money was deposited that day than had been banked in eral weeks. The Clinch County small considered of the strongest this section the depositors knew it-and didn't worry or try to draw their accounts out. The officials pressed gratification at the confidence of the depositors in their bank. Auto Tags. Auto owners of Valdosta and Lowndes county must have their tags ordered before Feb. they will have to pay penalty of 20 per cent, Sheriff Spivey announced this morning. Every auto owner must either have his 1931 tag or money der cashier's check stub dated prior to Feb. Checks or money orders sent in after Jan. will be returned from the office of the secretary of state unless they cover the 20 per cent penalty. Any auto owner who needs help out his application for tag may receive all the information he needs from the sheriff. Basketball Game at Haylow Haylow school cagers met the teams of the Statenville school Statenville yesterday afternoon in game that was characterized by fast and good play on each side. Haylow's girl team swamped by the Statenville misses by the large score of 60 while the Haylow boys won their 20 to The high scorer of the game was Wilbur Bennet, Haylow forward, who shot 14 of 20 points. The games were witnessed by large crowd of fans. Cross Ties Cross ties which are all that of the old car line West main street are being pulled from the street by city forces. The ties were allowed to remain in the street when the tracks were taken many years ago but the city remove them because decided of damage they do to vehicles passing over them. Anyone wishing any of the cross ties may have them if they haul them away. Several Valdostans have already hauled some of them away.