gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
c73acf5c7089c9aa
Response Measures
None
Events (3)
1.August 7, 1930Run
Cause
Local Banks
Cause Details
Run was triggered by the Citizens Bank and Trust Co. closing and threatened withdrawals at that institution.
Measures
Closed temporarily to protect depositors; directors and state examiners intervened.
Newspaper Excerpt
The failure of the Citizens Bank to open this morning caused run on the Eastern Bank and Trust Company which closed temporarily to protect its depositors.
Source
newspapers
2.August 7, 1930Suspension
Cause
Local Banks
Cause Details
Directors closed the bank as a precautionary measure against threatened heavy runs and withdrawals following the Citizens Bank failure.
Newspaper Excerpt
Two banks, the Citizens Bank and Trust company, with resources of over million dollars failed to open for business ... Two hours later the Eastern Bank and Trust Company was closed after a small run.
Source
newspapers
3.October 3, 1930Reopening
Newspaper Excerpt
The Eastern Bank and Trust company, which closed its doors here August 7 ... will reopen for business tomorrow morning, it was announced last night after a directors meeting.
Two New Bern Banks Temporarily Closed
NEW BERN, N. C., Aug. Citizens Bank and Trust Com pany, with resources of over million dollars failed to for business open today.
A notice posted on the doors said that the directors of the banking in stitution had ordered the bank closed because of threatened withdrawals. NEW BERN, N C., Aug. The failure of the Citizens Bank to open this morning caused run on the Eastern Bank and Trust Company which closed temporarily to protect its depositors. It is said that both banks will soon re-open.
2.August 7, 1930St. Louis Post-DispatchSt. Louis, MO
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Two Depositories at Newbern, N. C., Shut Doors. By the Associated Press. NEWBERN. N. C., Aug. 7.-The only banks in Newbern closed their doors today. A notice posted on the door of the Citiens' Bank and Trust Co. said the bank was closed because of threatened withdrawals. Two hours later the Eastern Bank and Trust Co. was closed after a small run. The Citizens' Bank had a capital of $50,000 and total re-
3.August 8, 1930The Salisbury PostSalisbury, NC
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Article Text
Situation Survey Subject New Bern. Aug. Taylor, of the state banking department, in New Bern day to could be done about giving New Bern Chief John Mitchell was later the day. Two banks, the Citizens Bank and the Eastern Bank and Trust company. closed their doors here yesterday, leaving New Bern with only an dustrial bank. branches the Eastern in this section close. The First National bank suspended business here last October Officials of the two banks today reiterated that the are sound, and that closing was President Swan, declared his bank would not have closed had officials not been under the that could reopen immediately, or soon public confidence was stored. Directors of the Eastern late yesterday the possibilities of mediate reopening.
4.August 8, 1930The Charlotte ObserverCharlotte, NC
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Article Text
TWO BANKS AT NEW BERN CLOSE TO PREVENT RUNS
NEW BERN, Aug. 7-State Bank Examiner John Mitchell and sistants from the banking department of the state corporation commission were expected here tonight to take charge of the Citizens Bank and Trust company and the Eastern Bank and Trust company of this city, both of which closed their doors here this morning as precautionary measures against threatened heavy runs and withdrawals. Since last October the First National Bank of New Bern has been in the hands of a receiver, so that the city is now without any commercial bank, except the Morris Plan bank. It is thought at least one of the two banks that closed today will be permitted to reopen shortly, as both are said to be in good financial shape. Closing of the Citizens bank affects the home office here and also its five branches at Arapahoe, Maysville, Oriental, Bayboro and Vanceboro. MRS. JOHN BASKERVILL INJURED IN CAR WRECK
Mrs. John Baskervill, wife of the Raleigh correspondent for the North Carolina Association of Afternoon Newspapers, had her right arm broken in three places when driven by her husband collided. another at Valdese, near here, Mr. Baskerville was not injured His wife is being treated at a Morganton hospital.
5.August 8, 1930The Charlotte NewsCharlotte, NC
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Saturday Grocery And Market Specials For Thrifty Housewives
Two New Bern Banks Will Be Investigated
Examiner Seeking Facilities for Residents-Bank Officials Say Conditions Sound.
Taylor. an examiner of the State Banking Department. was in New Bern today to see what could be about giving New Bern banking facilities. Chief Examiner John Mitchell was expected later in the
Two banks. the Citizens Bank and Trust Company, closed their here yesterday. leaving New Bern with only Morris Plan bank Five branches of the Eastern in this section also closed The First Na. tional Bank suspended business here last Officials the two banks today reiterated statements that the in. stitutions are sound. and that closing was precautionary measure President W. Swan. of the Eastern, declared his bank would not have closed had officials not been under the impression that It could reopen or soon as public confidence was Directors of the Eastern late yes. terday appointed to investigate the possibilities*of imme-
6.August 8, 1930The Index-JournalGreenwood, SC
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Examiner To Cope With Bank Trouble
NEW BERN, Aug. Examiner Taylor, of the state banking department, was in New Bern today to see what could be done about giving New Bern banking facilities. Chief Examiner John Mitchell was expected later in the day. Two banks, the Citizens Bank and Trust company and the Eastern Bank and Trust company, closed their doors here yesterday, leaving New Bern with only an industrial bank. Five branches of the Eastern in this section also closed. The First National Bank suspended business here last October.
7.August 8, 1930The Modesto BeeModesto, CA
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Two North Carolina Banks Close Doors
NEWBERN, N C., Aug. 7.-(P) Citizens Bank and Trust Company the Eastern Bank and Trust Company their doors here to-day leaving city without a financial institution. notice posted on the door of the Citizens Bank Company being closed because of withhours the Eastern Bank and Trust closed in the fact of small run depositors.
8.August 8, 1930The Columbia RecordColumbia, SC
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EXAMINER INVESTIGATES NEW BERN BANK FAILURES
NEW BERN, N. Aug. -Examiner Taylor, of the state banking department, was in New Bern today see what could be done about giving New Bern banking facilities. Chief ExaminJohn Mitchell was expected later in the day. Two banks, the Citizens Bank and Trust company and the Eastern Bank and Trust company, closed their doors here yesterday, leaving New Bern with only an industrial bank. Five branches of the Eastin this section also closed. The First bank suspended business last October.
9.August 8, 1930News and RecordGreensboro, NC
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2 NEW BERN BANKS CLOSE THEIR DOORS
Citizens Bank and Trust Company and Eastern Bank and Trust Close.
CITY NOW HAS NO BANK
(Special to Daily News) New Bern, Aug. Bank Examiner John Mitchell and assistants from the banking department of the State Corporation commission were expected here tonight to take charge of the Citizens Bank and Trust company and the Eastern Bank and Trust of this city. of which closed their doors both here this morning as precautionary against threatened heavy measures runs and withdrawals. Since last October the First Naof New has been tional hands of receiver, that in the the city now without any except the Morris Plan mercial hoped that at least one bank. the two that closed today of will be permitted to reopen to be in good finan as both are cial shape Citizens bank closed The first, five minutes before opening time this morning, when large of depositors noted waitthrong outside to withdraw The directors met hurriedly and decided to open. After gradual withdrawals and spread ruthe last few there mors during large withdrawals yesterday Scott states that the bank Cashier able to operate under amply normal trend but that no tion could stand unusually heavy The Eastern bank remained open for almost two hours dur- deing the withdrew funds and there positors indications that the hysteria would of this bank affects The closing office here also its the home five Oriental, Bayboroa Vanceboro. Mr states he believes is closing. He the and that the officers will confer with the bank examiners relative to reopenat an date. meeting of directors of the Eastern Bank and Trust company here late today, appointed to immediate the of the bank and its five as soon as possible. On the are President Vice President John Weskett, and T. Warren. director and attorney The Eastern bank has capital stock of with undivided of and of over Riley Ross is cashier capital of the Citizens bank with surplus and divided profits than Henry Henderson is president.
10.August 8, 1930Ledger-StarNorfolk, VA
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PREPARE REOPENING
Two Closed Financial Institutions At New Bern Said To Be Sound
New Bern, C., Aug. Taylor, examiner the state banking was New today what could done about giving Bern bankfacilities. Chief Examiner Mitchell expected later in banks, the Citizens Bank and Trust Company the Eastern and Trust Company, closed doors here yesterday, leaving Bern withonly Bank branches the Eastsection closed. Bank suspended last Officials the banks today reiterated stitutions sound and that closprecautionary President W. Swan the declared his bank would closed had, officials been the impression that could reopen immediately soon public confidence was restored. Directors the Eastern appointed investigate sibilities reopening
11.August 9, 1930News and RecordGreensboro, NC
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BRANCH BANK SYSTEM OPENS AT NEW BERN
Wilson Company Will Open In City Today In Citizens Bank Building.
ACCOUNTS ARE AUDITED
(Special Daily New Bern, Aug. State Bank aminer Mitchell this Wilmington, John Weskett, president vice president bank and that pany, had been given them here, providthe they reopen obtain the possible the depositors. will be that the the next week or here within
(Special Daily local branch New Bern, Aug. of the Branch Banking and Trust company, of Wilson, will be opened here morning today by R. it was assistant vice E. Harris, of Wilson. president the of bank. will charge the bank Although connection with any the former local Citizens Trust building and the Citizens Bank books audit of continued under will be Baxter the the liquidating of banking divithe corporation comsion of of the banking department the state today both the Bank charge Trust and the Eastand Bank Trust which ern closed yesterday precautionary measures to prevent heavy runs and Taylor assumed immediate the banks tonight stated that nothing to say the future the final decision the chief John Raleigh pected can told the public. Although not the fact the Howagent has been yet appointed
12.August 11, 1930Statesville Record and LandmarkStatesville, NC
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BANK by Rumors Cause Hysteria Fanned Banks to Close Remaining National Failed Their October. Citizen's Bern, Bank Company and the Bank and Trust Company which yesterday will until arrival of John Mitchell, chief bank examiner, officials said today. meantime Taylor, another bank examiner, in charge.
New Bern, Aug. Bank Examiner John Mitchell assistfrom the banking department of the State Corporation Commission are here take charge of the Citizens Bank Trust Company the Bank and Trust Company, this both which closed their docis Thursday morning precautionary measures against and Since last October the First New has the hands that city bank except the Plan bank oped that one the banks yesterday are said to be good financial shape. Citizens bank closed five minutes before opening time, large throng depositors was noted waiting outside withdeposits. directors met decided After gradual withdrawals and the spread rumors during the last there large withdrawals Wednesday. Cashier Scott states that the bank was amply able to erate under normal trend but that institution could stand unusually Eastern bank remained open for almost two and half hours during the morning but depositors withdrew funds and there ind cations that the hysteria would grow. closing of this bank affects the home here its five branches Arapahoe, Maysville, Oriental, Bayboro and Vanceboro.
13.August 11, 1930Statesville Record and LandmarkStatesville, NC
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Wilson Company to Occupy Citizens Bank EastBank and Trust Co. Given Permission Reopen. New Bern, Aug. ference State Bank Examiner John Mitchell Friday afternoon Swan and John Weskett, and vice president of the Eastern and Trust that had given the bank here, they open obtain the of the possible that the bank tors. reopened here within the next local branch the Branch Banking and Trust Company, of Wilopened here this morning at Harris, sistant vice president of the will be in charge of the local Although the new bank will have connection whatever with any the former banks, be housed Bank Trust Company audit Citizens Bank books will be separ ately the Baxter, of Raleigh, the liquidating of the banking division the state comTaylor, of Raleigh, of the banking department of the state corcommission, took charge of poration the Citizens Bank Trust the Eastern Bank and Company Trust Company, which closed Thursas precautionary measures heavy and withdrawals. prevent
CONFIDENCE IN BUSINESS AND BANKING
Confidence is one of the big words so far as business and banking are concerned. Without confidence, our business structure would topple over inside of a month. Without confidence, there could be no trading, no banking, no buying and no selling. Confidence is indeed a big word. We have been having bank failures in various parts of the nation. We have had them here, in our own state. In the majority of instances these failures were brought about thru lack of confidence. Some one starts an idle rumor. It spreads like wild-fire Within a short while, a run starts on the bank, and then the trouble is done. Despite the fact that the rumors may have been entirely without the slightest foundation-as they usually are-and despite the fact that the banks may be in the best of condition-as they also usually are-the institutions are forced to close their doors and suspend business. Lack of confidence does it. Lack of confidence, coupled with damned foolishness! Pardon the profanity, please, but there are times when profanity seems to fill the bill as nothing else can do. The New Bern bank failure should never have taken place. The Eastern Bank was in good shape. Rumors and lack of confidence brought about that failure. Probably the same thing is responsible, to a large extent. for the failure of the bank in Raleigh this week. The point we want to emphasize in this connection is that the utmost care should be exercised in talking about banks or other business institutions. Idle rumors can do incalculable harm. People who persist in spreading them should be punished to the fullest measure of the law. And don't forget that there is a law which provides for such things. Incidentally, in this same connection. we might also add that Washington has a right to be proud of its banking institutions and the safe, conservative and sound manner in which their affairs have been and are being handled.
15.October 4, 1930The News and ObserverRaleigh, NC
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NEW BERN BANK WILL REOPEN ITS DOORS TODAY Depositors Agree to Allow Their Money to Remain Until 1933
New Bern, Oct. 3.-The Eastern Bank and Trust company, which closed its doors here August 7 fol. lowing the closing of the Citizens Bank and Trust Company and the development of run on the Eastern bank, will reopen for business to morrow morning, it was announced last night after a directors meeting. The reopening of the institution
16.October 4, 1930News and RecordGreensboro, NC
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BANK AT NEW BERN WILL REOPEN TODAY
Re-Opening of Eastern Bank and Trust Company Is By State Officials.
(Special Dally New Eastern Bank and Trust closed doors August lowing the Citizens Bank and the run the Eastern bank, business directors The reopening institution follows an official of the signatures obtained Practically were The agreed allow their money without interest the 20, Full payments funds for the percentage made President Swan stated today the opening have made the and by the department
Havana Bank to Reopen. in the near future Banco closed since last Saturday when suspension the directors, was rumored here
17.October 6, 1930Statesville Record and LandmarkStatesville, NC
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BANK AT NEW BERN WILL REOPEN TODAY
Re-Opening of Eastern Bank and Trust Company Is Permitted By
New Oct. Eastern Bank and Trust closhere August following closing of the Bank Trust the of run on the will open for today, after meeting. The follows check the natures obtained ments. cent the depositors were thus. The agreed their thout until 1932. Full funds for the deposits made upon demand. Swan stated today. All opening have by the officials and the plans state bankdepartment.
EASTERN TRUST CO. IN IMPROVED CONDITION
NEW BERN, Jan. 17.-With-th exception of J. Vernon Blades, who was president of the defunct First National Bank whose name was 0. mitted at his own request, directors of the Eastern Bank and Trust Com pany were re-elected at the annual stockholders meeting. The local banl with its five branches in the section was reopened under the deferred pay ment plan. following its temporary colsing on August 7. in the face of a heavy run after the closing of the other local bank.
Pres dent W. J. Swan reports that the institution is getting along as well as can reasonably be expected Since the reopening through Thurs day there have been new accounts opened there every day, he says. The new deposits are reported to be lar ger than in the statement for December 31, when they. were $249, 876.89.
19.January 17, 1931The News and ObserverRaleigh, NC
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TRUST CO. IN EASTERN IMPROVED CONDITION Was On Deferred Reopened Payment Plan Following Closing Due To
New Bern. Jan. the Vernon Blades, president of the defunct First National whose cmitted his request. directhe Eastern and Trust Company meeting. The local with its five branches the section reopened under ferred payment following temporary August face heavy after closing the local Swan the institution getting along can expected. through Thurs day every deposits reported larger than the statement for cember 31. when they were $249,Collections are due to lower and Mr the bank has not paid bills morale the debtors was said good. The institution mitted types except the making loans, states, and hopeful authority will be soon granted the making loans.
20.July 12, 1931Battle Creek EnquirerBattle Creek, MI
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BANK AT NEW BERN TO REOPEN THIS MORNING
The Charlotte Observer NEW BERN, Oct. 3.-The Eastern Bank and Trust company, which closed its doors here August following the closing of the Citizens Bank and Trust company and the development of run on the Eastern bank, will reopen for busitomorrow morning, it was nounced at 11 o'clock last night after a directors' meeting. The reopening of institution follows an official check of signatures obtained to depositors agreements, practically 90 per cent of depositors having signed up. The depositors agreed to allow their money to rewithout interest at the bank until December 20, 1932.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
