Merchants & Marine Bank (Pascagoula, MS)

Episode Information

Episode Type
Suspension → Closure
Start Date
January 1, 1931*
Location
Pascagoula, Mississippi (30.366, -88.556)
Bank Type
state

Metadata

Episode ID
Bank ID
City ID
280675480
Model
gpt-5-mini
Short Digest

Notes

The articles state the bank suspended in 1931 and later payments are being made by a (new) Merchants & Marine Bank to depositors, indicating the original bank did not resume normal operations.

Events (3)
1. January 1, 1931* Suspension
Cause Details
Article only states the bank suspended in 1931 without specifying reason.
Newspaper Excerpt
the old bank, which suspended in 1931
Source
newspapers
2. January 23, 1933 Other
Newspaper Excerpt
Some $25,000 will be released into the trade channels Monday, Jan. 23, when the Merchants & Marine Bank makes available a 10 per cent installment to several hundred who had deposits in the old bank, which suspended in 1931.
Source
newspapers
3. January 20, 1934 Other
Newspaper Excerpt
Approximately $52,000 dollars will be made available to the depositors of the old Merchants & Marine Bank on Thursday when the Merchants & Marine Bank of Pascagoula will place this sum to their credit in accordance with a contract it has with the depositors of the old bank.
Source
newspapers

Newspaper Articles (2)
1. January 14, 1933 Sun Herald Biloxi, MS

Article Text

Pascagoula Banks Elect Directors

Pascagoula, Miss., Jan. 14.—Newly elected directors of the Pascagoula National Bank are: A. F. Dantzler, A. W. Cowan, Dr. W. R. Kell, K. W. Burnham, T. L. DeLashmet, B. D. Spann, J. W. Brumfield, W. B. Herring, J. O. Cole and W. R. Gulley.

The following boys have been awarded football sweaters from Pascagoula high school: Anton Kihet, Billy Ryan, Jack Colle, Amos Rolls, J. A. Pol, Russell Fletcher, Pat Kent, Johnnie Green, Elmer Braun, Louis Frederic, Vincent Cox, Ernest Larsen, James Grimsley, Macveigh Bowman, E. J. Murray, Alfred Flechas, Leon Moates and Max Hudson.

Some $25,000 will be released into the trade channels Monday, Jan. 23, when the Merchants & Marine Bank makes available a 10 per cent installment to several hundred who had deposits in the old bank, which suspended in 1931.

Edmond J. Jones has been elected president of the Merchants Marine Bank of Pascagoula. Other new officers are: Fred Taylor, vice-president; P. W. Cox, cashier; Odus Lynd, assistant cashier and G. C. King, A. L. Staples, H. A. Fails, Fred Taylor, Hermes F. Gautier, E. J. Ford, J. I. Ford, J. D. Lowe and Mr. Jane.

2. January 20, 1934 Sun Herald Biloxi, MS

Article Text

$52,000 To Be Paid To Bank Depositors

(Pascagoula Chronicle Star) Approximately $52,000 dollars will be made available to the depositors of the old Merchants & Marine Bank on Thursday when the Merchants & Marine Bank of Pascagoula will place this sum to their credit in accordance with a contract it has with the depositors of the old bank.

This is the third payment the Merchants & Marine Bank of Pascagoula has made to the depositors of the Merchants & Marine Bank, which suspended business in 1931. Under the contract which the new bank has with the depositors of the old bank, seventy-five per cent of their deposits are to be paid in installments.