6535. Peoples Bank (Mount Vernon, KY)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
state
Start Date
January 16, 1932
Location
Mount Vernon, Kentucky (37.353, -84.340)

Metadata

Model
gpt-5-mini
Short Digest
88d31a7b7e81824b

Response Measures

None

Description

Articles indicate Peoples Bank of Mt. Vernon had been closed (mentioned in a 1932 news item) and later its notes were sold by the Special Banking Commissioner in 1934, consistent with a suspension followed by permanent closure/receivership. No explicit contemporaneous report of a depositor run was found in the provided texts. Bank type set to 'state' because the name lacks 'National' or 'Trust' and a state commissioner handled the sale.

Events (2)

1. January 16, 1932 Suspension
Cause
Government Action
Cause Details
Article references the 'closing of the Peoples Bank of Mt. Vernon' in relation to a local court case; later disposition handled by the Special Banking Commissioner, indicating suspension/closure under state banking authority.
Newspaper Excerpt
closing of the Peoples Bank of Mt. Vernon
Source
newspapers
2. August 20, 1934 Receivership
Newspaper Excerpt
public sale, by Hiatt, Special Banking Commissioner, of notes owing the Bank. This sale will be People's August 20, 1:30 p.m. at Mt. Vernon, Ky. (Mount Vernon Signal, 1934-08-09).
Source
newspapers

Newspaper Articles (2)

Article from The Harlan Daily Enterprise, March 2, 1932

Click image to open full size in new tab

Article Text

Guard's Trial Killing Sheriff Begins Somerset, Mar. jury completed today to try Hun ter Burchell, charged with the murder of Sheriff Tipton. Somerset, Ky., Mar. trial of Hunter Burchell, of Manchester, a guard at the Frankfort Penitentiary, charged with the murder of Sheriff N. Tipton at Mt. Vernon Jan. 16, was called in Pulaski Circuit Court here yesterday. Sheriff Tipton had reported to the Attorney General that Burchell was not property guarding Miller, whom he took to Mt. Vernon testify at the trial of his brother, R. H. Miller, in case volving closing of the Peoples Bank of Mt. Vernon. Burchell objected to Tipton's action and he was said to have been ordered from the Sheriff's office. He met the Sheriff on the street and shot him. The Court of Appeals denied Burchell writ of prohibition to prevent Judge Roscoe Tartar from presiding at his trial, and writ of habeas corpus to require Judge Tartar to grant him bail.


Article from Mount Vernon Signal, August 9, 1934

Click image to open full size in new tab

Article Text

PEOPLE'S BANK NOTE SALE On the back page of this issue will be found the public sale, by Hiatt, Special Banking Commissioner. of notes owing the Bank. This sale will be People's August 20, 1:30 m. at Mt. Vernon, Ky.