Peoples Bank of Elba (Gretna, VA)

Episode Information

Episode Type
Suspension β†’ Closure
Start Date
December 23, 1930
Location
Gretna, Virginia (36.954, -79.359)
Bank Type
state
Routing Number
68-0285
Canonical name
Peoples Bank
Alt. names
Peoples Bank of Elba

Metadata

Notes

Contemporary articles report state examiners took charge; no clear statement about reopening or receivership, so permanence uncertain.

Events (1)

1. December 23, 1930 Suspension
Cause
Government Action
Cause Details
State Division of Insurance and Banking announced suspension and sent an examiner to take charge.
Newspaper Excerpt
The State division of insurance and banking today announced that the Peoples Bank of Gretna, Va., had suspended business. An examiner from the State Division was sent to take charge.
Source
newspapers

Newspaper Articles (10)

Article from Evening Star, December 23, 1930

Click image to open full size in new tab

Article Text

VIRGINIA BANK SUSPENDS

RICHMOND, Va., December 23 (AP). -The State division of insurance and banking today announced that the Peoples Bank of Gretna, Va., had suspended business. The bank was capitalized at $50,000 and had deposits of $474,000. O. Ramsey was president.


Article from Des Moines Tribune, December 23, 1930

Click image to open full size in new tab

Article Text

TWO BANKS CLOSE.

HARTFORD, CONN. (AP)β€”Two Hartford banks, the Riverside Trust company, and Pallotti Andretta & Company were suspended Tuesday by Bank Commissioner Lester E. Shippee, following runs on both institutions. Capital of the Riverside Trust company was given as $400,000, savings deposits, $643,805 and commercial deposits, $3,185,455.10.

ANOTHER IN MIAMI.

MIAMI, FLA. (AP)β€”The City Bank of Miami Beach, which underwent a heavy run Monday, did not open Tuesday morning. The bank had a capital stock of $100,000, and deposits of $600,000.

ONE IN VIRGINIA.

RICHMOND, VA. (AP)β€”The Peoples Bank of Gretna, Va., suspended business Tuesday. The bank was capitalized at $50,000 and had deposits of $474,000.


Article from The Richmond News Leader, December 23, 1930

Click image to open full size in new tab

Article Text

Bank at Gretha, Va., Suspends Business

The state of banking today that Peoples' of Gretna, Va., had from the division was sent to take charge.


Article from The Sentinel, December 23, 1930

Click image to open full size in new tab

Article Text

VA. BANK CLOSES; ONE IN CONN. AND IN FLA. SUSPEND

The State vision of Insurance and day announced that the Peoples Bank of Gretna. Va., had suspended An examiner from the State Division was sent to take charge. The bank was spitalized at $50, 000 and had deposits of $474,000. O. L. Ramsey was president

Fla. City Bank Miami run following the closing of the City National Bank in Miami, did not open this morning. L. and cashier, the closed in order to The had capital stock of $100,000. surplus of $50,000 and posits of $600,000 at the last

Conn. Hartford Riverside Trust Company, and Pallotti Andretta and Bank Lester E. Ship following runs on both institu tions been in progress since last The manual 1930 gave the capital of the Riverside Trust Incorporated in as 805 and commercial deposits $3.-


Article from The Daily Nonpareil, December 23, 1930

Click image to open full size in new tab

Article Text

RUN CLOSES BANK.

NEW YORK, N. Press. Dec. The state superintendent of banks, Joseph Brodery, today took possession of the Chelsea Bank and Trust company, a small institution largely patronized by actors and others in the theatrical business. It was capitlaized at $2,500,000, has deposits of approximately $18,000,000 and total resources of $23,000,000. The closing of the bank followed a run on the institution which developed last night and continued this morning.

Associated Press.) RICHMOND, Va., Dec. 23.-The state division of insurance and banking today announced that the Peoples bank of Gretna, Va., had suspended business. The bank was capitalized at $50,000 and had deposits of $474,000.

(By The Associated Press. HARTFORD, Conn., Dec.


Article from The Oregonian, December 24, 1930

Click image to open full size in new tab

Article Text

MIAMI BANK IS CLOSED

Institution Keeps Doors Shut to

Halt Insistent Run.

City bank of Miami Beach, which underwent heavy run yesterday lowing the closing the City National bank in Miami, did not open this morning.

RICHMOND. Va., Dec. 23.-(AP)state division of insurance that the banking today Peoples bank Gretna, Va., had suspended

Conn. Dec Two Hartford Riverside Trust company, and Andretta & Co., were today by Bank Lester E. Shippee, following runs on both


Article from The Baltimore Sun, December 24, 1930

Click image to open full size in new tab

Article Text

ments, saying they were "acting for the best interests of depositors."

Miami Beach Bank Fails Miami, Fla., Dec. 23 (AP)-The City Bank of Miami Beach, which underwent a heavy run yesterday following the closing of the City National Bank in Miami, did not open this morning. C. L. Clements, vice-president and cashier. said the bank closed at the order of State Bank Examiners to protect its assets.

Virginia Bank Suspends Richmond, Va., Dec. 23 (AP) The State Division of Insurance and Banking today announced that he Peoples Bank of Gretna, Va., had suspended business. An examiner for the State division was sent to take charge. The bank was capitalized at $50,000 and had deposits of $474,000.


Article from The Boston Daily Globe, December 24, 1930

Click image to open full size in new tab

Article Text

are obliged to close our doors to protect The bank was established in 1888. Its deposits are estimated excess $2,000,000, mostly by small merchants in the

TWO BANKS CLOSED

IN BESSEMER, ALA

BESSEMER, Ala, Dec The City National Bank the Bessemer Trust and Savings Bank failed to open today. Officials said they 'acting for the best interests of depositors.

Virginia Bank Suspends

RICHMOND, Dec 23 (A. P.)The Banking that the Peoples Bank of Gretna, Va, has suspended business. The bank capitalized at $50,000 and had deposits of $474,000.


Article from The Fresno Bee, December 24, 1930

Click image to open full size in new tab

Article Text

LOS ANGELES demand wheat czar Beach was closed yetserday to pro"Diedrichs, the letter continued officials BAY BUTTERFAT "brought me contain- (By The Associated run on the bank ing and various other The bank had capital stock objects in the It San night was dark of $100,000 and of approxiBAY GRAIN AND HAY and he said it had seemed to him NEW YORK DAIRY MARKET and to accompanied him SAN Dec BARLEY they had and fol- The Press) NEW YORK lowed next day he brought mixed me fourth valise speak more exactly strong box containIng human nearby extras remains ings deposits $643,805 and comshowed The general said his inventory deposits $3,185,455.10. higher the valises 311 extra contain articles He brought them from pended Bank Steady Shanghai reached E. Shippee, following runs The City National Bank the Paris June 1920 He retained on both institutions CHICAGO BUTTER AND EGGS Bessemer Trust and Savings Bank the articles at his estate until OcPallotti Andretta and Company faield to open yesterday By The lober, 1920 when he turned control the Riverside Trust Com- Dec over representative of the RICHMOND (Va.), Dec. 24 Grand Duke Nicholas The state manual for 1930 gave The state division of insurance have knowledge whatsothe capital the Riverside Trust and banking yesterday announced what has become of those as surplus $600.- the People's Bank of Gretna, Va., profits had suspended business

BAY DRIED FRUIT small

CHICAGO POULTRY 16c.


Article Text

Bank at Gretha, Va., Suspends Business

The state of banking today that Peoples' of Gretna, Va., had from the division was sent to take charge.