3843. Truro Savings Bank (Truro, IA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
October 2, 1931
Location
Truro, Iowa (41.210, -93.847)

Metadata

Model
gpt-5-mini
Short Digest
3cd47313

Response Measures

None

Description

Newspaper reports (Oct 2, 1931) state the Truro Savings Bank of Truro, Madison County, was closed on Oct. 2, 1931. No run or depositor panic at this bank is described in the provided articles; the bank is reported closed (permanently) so classified as suspension_closure. Bank appears to be a local savings bank (treated as a state-chartered savings bank).

Events (1)

1. October 2, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Reported closed (failure) on Oct. 2, 1931; articles give no mention of a depositor run or external rumor, implying bank-specific insolvency or inability to continue operations.
Newspaper Excerpt
Truro Savings Closes. TRURO, Oct. (P)-The Truro Savings bank of Truro, Madison county, was closed today. It had deposits of $85,000 and was capitalized at $20,000.
Source
newspapers

Newspaper Articles (2)

Article from Des Moines Tribune, October 2, 1931

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Article Text

HAVE HUNDREDS OF SPECIMENS Fossils, Flowers. Minerals in Their Cabinets. A natural names of exhibits hobby three The of 1224 collections of and fascinating sort their by Raymond of division in cludes and Louise the ment after entomology On Trips. Most of by from ers This summer's trip augmented fossils in the like in good were added New acquisitions in the mineralogy department clude of meteorite Meteor New gem minerals are red tourmaline green jasper and Agatized wood displays came from Ariz., this summer. Forest Foliage. The botany department. more recent branch of the cludes several specimens of western coast forest foliage and some cones Louise found from the sequoia gigantea trees in botany neatly framed with glass and bound with already number Albert uses mosquito net long fish pole to add new its to his collection of 50 butterSeveral professors have become interested in the children's projects, and one of Raymond's most prized possession is mounted cowfish given him by Prof. Homer Dill of the University of Iowa museum. While traveling the young sters visit museums to obtain ideas from professional collectors. They do most of their own identifying of rock specimens with the help of their father and mother. Japanese Minerals. Eighty Japanese minerals were splendid Christmas gift, in the opinion of Raymond. whose exhibits fill numerous sliding drawers. Indian relies are new department rapidly acquiring number and space. Beside the natural science displays, the children's collection includes stamps, coins, seashells, marine life and a group of dolls from many countries. Raymond finds everything is classified in an orderly manner in his hibits of and minerals. Each specimen has neatly printed label attached. lection. The upstairs rooms for Main Room. The room in This taken found is used step to safeguard dining room of depositors and Mr. bedroom opens the room Miss to proceed. Volkers' from other Neither of the bedrooms had IOWA BANKS CLOSED been entered by The Four banks failed room downstairs is used open their doors and storage room for bank in The American Savings tools, clothing and It in this room that Miss Volkers taken over by the clothing found. The which adjoins is 37 of Moines and 12 southof Knoxville The farm miles of Dallas. department through A and the last ment showed deposits of Henry Mahoney is president. Deposits of the Citizens of West Muscatine were The Truro Savings bank of Madison had Truro, of The Thor bank of Humboldt had deposits of county, DIVIDENDS READY. (The in payof the dividends to former depositors of the closed Peoples State bank of Humboldt delivered by R. H. examiner in to Humboldt Trust and for This makes total of 67 returned to


Article from Globe-Gazette, October 2, 1931

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Article Text

DEPOSITORS PUT MONEY BACK IN Third Day "Run" on Bank at Davenport Calms Down to Handful. third day "run" on the Union Savings Bank and Trust company. Davenport's only downtown bank which was started following an announcement on Monday by the American Savings Bank and Trust company. of 60 day withdrawal notice. calmed down today and only handful of depositors appeared to withdraw their money. Bank officials said that many of those who had withdrawn their funds were returning them following a public announcement by more than 10 business houses yesterday that they would guarantee the deposits of their employes in the bank yesterday almost equalled withdrawals and confidence was expressed on all sides today that conditions in the Tri-Cities had returned to a normal basis. Glenville State Bank Closes. GLENVILLE, Minn., Oct. The State bank of Glenville closed its doors today by order of the board of directors to conserve the assets. The institution was capitalized for $10,000 and had deposits of $125,000. Truro Savings Closes. TRURO, Oct. (P)-The Truro Savings bank of Truro, Madison county, was closed today. It had deposits of $85,000 and was capital ized at $20,000. Bank at Maquoketa Closes. MAQUOKETA, Oct. 2. American Savings bank closed today. The deposits were $948,000 and capital $100,000. West Liberty Bank Closes. WEST LIBERTY, Oct. 2. (P)The Citizens Savings bank hers closed today. Deposits were given as $160,000.