Bank of Murphy (Murphy, NC)

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BANK CLOSINGS NOW TOTAL 120

Four in South and West Are Added to Week's List of

Suspensions

By UNITED PRESS The total of bank suspensions in the South and Midwest during the week stood at 120 with two more closed today in North Carolina and one each in Tennessee and Minnesota.

"Malicious and false rumors' which brought a run were blamed for closing the First National Bank of Newport, Tenn. The Bank of Murphy, N. C., oldest financial institution in western North Carolina, with deposits of $350,000. closed its doors The Bank of Black Mountain also suspended. The State Bank of Kinbrae, Minn., was closed by state examiners because of lack of reserve. Meantime in Little Rock Ark., the State Banking Department prepared to take charge of more than 30 banks which tions during the week

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MORE BANK SUSPENSIONS

Asheville, small western North Carolina banks today added to the of those to suspend the Central Bank and company closed Thursday. Altogether banks closed in three days. The today were the Bank Black the Polk County Bank and the Bank Murphy at MurThe total deposits in the three

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ANOTHER BANK CLOSES.

Total of 13 in Western North Carolina Last Three Days. Nov. The notified morning that Bank Murphy did open today, which closed western North Carolina in three days. bank was capitalized at had surplus $15,000; profits $4,269, total deposits according its last Sept.

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Department Given Notice of Closing

Raleigh State Bank Department has the closing today the Bank Trust Company The bank was capitalized September 24 listed posits at

Bank of Murphy Fails to Open

Raleigh The state banking ing that the Bank of Murphy did not business bringing the banks which closed Western North Carolina in three bank at vided of and deposits of her 24. call statement. as of Septem-

Suspend Work On Highways

Little Rock, Ark. Dwight H. chairman of night the suspension of state force work the