Bank of West Asheville (Asheville, NC)

Episode Information

Episode UID
66056971572
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
6605697 routing
Routing Number
66-0569
Start Date
December 12, 1930
Location
Asheville, North Carolina (35.601, -82.554)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
7869ae2b2a5ea24e

Response Measures

None

Description

Directors closed bank to conserve assets and state banking department placed a liquidating agent/receiver in charge.

Events (2)
1. December 12, 1930 Receivership
Newspaper Excerpt
G. R. Henson, liquidating agent for four other closed state banks in Buncombe county, was instructed by the state banking department to take charge of the bank.
Source
newspapers
2. December 12, 1930 Suspension
Cause Details
Closed by order of the board to conserve assets; suspension attributed to frozen assets and state banking department took charge.
Newspaper Excerpt
A notice on the door said the action was taken to conserve assets for depositors.
Source
newspapers

Newspaper Articles (8)
1. December 12, 1930 The Herald Rock Hill, SC
Article from The Herald, December 12, 1930

Click image to open full size in new tab

Article Text

Bank Of West Asheville Closes Asheville, Dec. Bank of West Asheville, which survived the financial crisis in Asheville and western North Carolina three weeks ago, failed to open this morning A notice on the door said the action was taken to conserve assets for depositors. G. R. Henson, liquidating agent for four other elosed state banks in Buncombe county. was instructed by the state banking depart ment to take charge of the bank. The suspension was attributed to frozen assets. BUY SOMETHING NEW-NOW

2. December 12, 1930 The Knoxville News-Sentinel Knoxville, TN
Article from The Knoxville News-Sentinel, December 12, 1930

Click image to open full size in new tab

Article Text

6TH CLOSES AT ASHEVILLE Bank West Asheville Closes Door For Benefit of Depositors By United Press N. Bank of West Asheville, state institution, closed its doors today "for the benefit making the sixth bank close in Buncombe County since Nov. 20. There was slight run on the bank that time officials thought they had tided over, until heavy began ten days The bank deposits capital surplus $50,000. G. Carter president and H. Posey, cashier.

3. December 13, 1930 The Des Moines Register Des Moines, IA
Article from The Des Moines Register, December 13, 1930

Click image to open full size in new tab

Article Text

BANK INVOKES 30 DAY RULING Raleigh, N. C., Institution Keeps Doors Open. RALEIGH, N. C. (/P)-The Mechanics Savings bank of Raleigh Friday invoked the thirty day rule on withdrawal of deposits. Officials announced no deposits were being accepted unless the depositor would leave the funds untouched for thirty days. The bank's doors were open as usual. Its last statement, as of Sept. 24, listed deposits at $660,058.49. Asheville, N. C., Bank Closes. ASHEVILLE, N. C. The Bank of West Asheville failed to open Friday. A notice on the door explained the institution was closed "by order of the board of directors, to conserve assets for the benefit of depositors. The bank was capitalized at $25,000 and listed deposits of $497,000. Close St. Paul, Ark., Bank. LITTLE ROCK The closing of the Bank of St. Paul, at St. Paul, Ark., was announced Friday. The bank had capital and surplus of $13,000 and deposits of $31,000: Tyrone, Pa., Bank Suspends. TYRONE, PA. The doors of the Farmers and Merchants National bank here were closed Friday and notice was posted that the action was taken in the interests of depositors. Citizens State, Colman, S. D. COLMAN, S. D. (A)-An examiner of the state banking department took charge of the Citizens State bank here Friday, after the board of directors had decided to close. The bank was capitalized at $10,000. Heavy Run Causes Closing. CHRISTOPHER, ILL. The Christopher State bank failed to open for business Friday. Steady withdrawals of deposits for the last several weeks prompted directors to order the institution closed, for the protection of depositors. Reorganization Underway. GAYVILLE, S. D. (P)-By order of its board of directors, the Security State bank of Gayville has closed its doors, pending a reorganization. The bank had deposits of approximately $425.000 and capital and surplus of $59,000.

4. December 13, 1930 Chattanooga Daily Times Chattanooga, TN
Article from Chattanooga Daily Times, December 13, 1930

Click image to open full size in new tab

Article Text

ASHEVILLE BANK NAMED RECEIVER; TWO CLOSURES SHELBY, C., Dec. 12 Commerce and Trust Asheville, receiver Central Securities company, hearing here today beJudge Yates Webb. Suit for receivership for the securities filed Kuesterer Co., Wilmington, Del., last Previously S. Barnard, Asheville had similar petition behalf of the stockholders. The announced time that it would not resist the petiThe officers of the Central Bank and Trust company here, which closed Nov. 20, were officers of the securities company. combined companies totaled $40,000,000. Bank of West Asheville failed today. notice on the door open plained the institution was closed "by order the board directors serve assets the benefit deposiSince the closing three weeks ago of the Central Bank here, largest bank in banks have been shut in Buncombe county. The Bank West Asheville capitalized and statement. Sept. 24, listed posits of RALEIGH N. Dec. 12 Mechanics Raleigh, today invoked thirty-day rule against withdrawal deposits and announced no deposits were being cepted unless the depositor would leave the funds untouched for thirty days. The bank's doors were open usual. Its Sept. 24, listed deposits at $660,058.49

5. December 15, 1930 Statesville Record and Landmark Statesville, NC
Article from Statesville Record and Landmark, December 15, 1930

Click image to open full size in new tab

Article Text

West Bank Closed Asheville, Dec. Bank West Asheville, whic.. survived the financial crisis in Asheville and North Carolina three weeks ago, failed to open this morning. notice the front door explain-1 the was taken to conserve for depositors. R. agent for four other closed state banks Buncombe county, instructed by the State Banking Department to take charge the bank. The suspension attributed to frozen assets.

6. December 18, 1930 Statesville Record and Landmark Statesville, NC
Article from Statesville Record and Landmark, December 18, 1930

Click image to open full size in new tab

Article Text

West Asheville Bank Has Closed Asheville, Dec. 12. -The Bank of West Asheville, which survived the FOR MEN financial crisis in Asheville and wert. ern North Carolina three weeks ago, failed to open this morning. A notice on the front door explained the action taken to was conserve assets for depositors. C. R. Renson, liquidating agent for four other closed state banks in Buncombe county, was instructed by the State Banking Department to take charge of the bank. The suspension was attributed to frozen assets. True. you can't make men decent by law. And apparently you can't do it by any other means. Akron Beacon-Journal

7. December 18, 1930 Statesville Record and Landmark Statesville, NC
Article from Statesville Record and Landmark, December 18, 1930

Click image to open full size in new tab

Article Text

West Asheville Bank Has Closed Asheville, Dec. The Bank of West Asheville, which survived the financial crisis in Asheville and west. ern North Carolina three weeks ago, failed to open this morning. notice the front door explained the action was taken to conserve assets for depositors. C. R. Henson, liquidating agent for four other closed state banks Buncombe county, was instructed by the State Banking Department to take charge of the bank. The suspension was attributed to frozen assets. True. you can't make men decent by law. And apparently you can't do it by any other means. Akron Bea-

8. February 21, 1931 The Asheville Times Asheville, NC
Article from The Asheville Times, February 21, 1931

Click image to open full size in new tab

Article Text

HOUSE IS TIED UP BY ROW OVER SCHOOLS, ROADS (Continued from who has tee. Mr. Spence said the state tax commission had estimated Mr. bill would raise $880,000 annually. while its author claims will get Mr. declared that the raisof the fulthe mandate the MacLean year's problem Representative Lumpkin of Frank lin. stating he "round that the not hold portant said the road bill The senate passed six before resolving itself into committee the whole continue consideration the government Both met today the on since the ed January Any for ready consideration could taken whereas previously urday meetings considerBills passed the house today included claims the Town Black Mountain by ell and authorize the city Asheville reopening the Bank of West Ashehouse also passed bill by and Reed relatthe of boxing for and Senator the trustees fin assist bank The bill calls for tion wrestling matches the county the boxing LONG SESSION SEEN end of the "pay period was only two weeks away today and the house tied whether the state-supsix months' school question should settled before vote the majority the membership robin' the bill which comes up special Monday Leaders this group held conference with Governar Gardner terday afternoon and asked him blank he stood on the governor replied he could any until the committee has about $19. for He "most delay action on the road major tax relief proposal The sentiment the however. relieving land of the school tax burden be beneficial than relieving land of road The robiners' say they favor the plan but If they have they prefer the school tax that although the pay ends after two weeks. he expects will until April the legislative program that and any delay on the bill would only pointed has been disposed of by the assembly An session after present assembly out of the question this time, Hear Firm Objections The ing the burden of finding the $19.in revenue from source other than ad- valorem on land for schools, yesterday heard repre- FLAG PROGRAM WILL BE GIVEN AT SCHOOL grades Choctaw occupying the school building Enka since their own building burned January will give program appropriate for Dutch at 2:15 o'clock. residents at Enka invited Dutch flag made by the girls the school will be presented Morits with an American flag token the esteem children feel for their Dutch Mr. of the Junior Mechanics have generous lending not made chilthemselves number the Juniors have been invited present. sentatives power companies the they could not stand Clyde of Shelby broGovernor the pany and of for the Carolina and Light company. the leading enterprises the ing legislation to place tax on Mr. Hoey said two-mill per kilowatt tax on power would cost the company or nearly tenth what the committee seeks raise for the schools. He said the Duke represents one percent of the Mr. Pou the legislature faces the the will remain principally agriculture, become an industrial we are doorned to poverty." he said, adding that taxes on power would keep industry from the state The senate last night debated the local sion but made little