3634. Murray State Bank (Murray, IA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 10, 1930
Location
Murray, Iowa (41.042, -93.949)

Metadata

Model
gpt-5-mini
Short Digest
d14d5890

Response Measures

None

Description

Newspaper reports (Dec 11, 1930) state the Turin Savings Bank 'closed' as part of a cluster of Iowa bank failures. No explicit run described in these excerpts and no receiver or reopening mentioned. Closure appears permanent; contagion from other local bank failures is cited, so cause classified as 'local_banks.'

Events (1)
1. December 10, 1930 Suspension
Cause
Local Banks
Cause Details
Closed as part of a wave of nearby Iowa bank failures following recent closures in Sioux City and Des Moines; contagion from other local banks' failures cited in articles.
Newspaper Excerpt
Yesterday the Turin Savings bank at Turin, Iowa, closed.
Source
newspapers

Newspaper Articles (2)
1. December 11, 1930 The Duluth News Tribune Duluth, MN
Article from The Duluth News Tribune, December 11, 1930

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Article Text

Two More Banks in Iowa Close; Note Eight Failures DES MOINES, IOWA, Dec. 10. (UP) Iowa banks closed today. bringing to eight the number of failures within five days. Simmons & Co., ploneer Osceola bank with deposits of more than $1,000,000. closed its doors today simultaneously with the collapse of the Murray State bank at Mursubsidiary, with deposits of $479,000. The run of bank failures started Saturday when two Sioux City and one Des Moines bank ceased operations. Monday at Leeds and Correctionville, subsidiaries of the defunct Sioux City banks closed. Yesterday the Turin Savings bank at Turin, Iowa, closed.

2. December 11, 1930 St. Cloud Times Saint Cloud, MN
Article from St. Cloud Times, December 11, 1930

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Article Text

Two More lowa Banks Close Doors Yesterday Des Moines, Iowa, Dec. Two Iowa banks closed Wednesday, bringing to eight the number of within five days. Simmons and Co., pioneer Osceola, Iowa, bank with deposits of more than $1,000,000. closed its doors simultaneously with the collapse the Murray State bank Murray. Iowa, subsidiary deposits of $479,000. The run of bank failures started Saturday when two Sioux City and Des Moines bank ceased operations. Monday Leeds and Correctionville subsidiaries of the defunct Sioux City banks closed. Tuesday the Turin Savings bank at Turin, Iowa, closed.