Ohio Valley Banking & Trust Company

Bank Information

Episode Type: Suspension → Reopening
Bank Type: trust company
Start Date: March 7, 1933
Location: Henderson, Kentucky (37.836, -87.590)

Metadata

Model: gpt-5-mini
Short Digest: f0f0f792

Response Measures

None

Description

Article (Henderson Morning Gleaner, 1933-03-07) reports the bank complying with President Roosevelt's proclamation ordering all banks to close until March 10, 1933 (the national bank holiday). There is no mention of a depositor run or permanent failure; suspension is due to government action and was temporary, so classified as suspension_reopening.

Events (1)

1. March 7, 1933 Suspension

Cause: Government Action
Cause Details: Closing under President Roosevelt's proclamation (national banking holiday) ordering banks to close until March 10, 1933.
Newspaper Excerpt: In accordance with the proclamation of the President ordering all banks in the United States to close and remain closed until Friday, March 10, the Farmers Bank and Trust company and the Ohio Valley Banking & Trust company are complying with its provisions.
Source: newspapers

Newspaper Articles (1)

1. March 7, 1933 Henderson Morning Gleaner Henderson, KY

Article from Henderson Morning Gleaner, March 7, 1933

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Article Text

SCRIP STIMULATED BUSINESS IN 1907 BANKER EXPLAINS Certificates Issued to Relieve Money Stringency in Henderson. MORATORIUM IS LAUDED In 1907 Henderson underwent a financial strain that necessitated the issuing of clearing house cer tificates for a period of three months. This system, a local banker recalled in an interview with a Gleaner reporter, proved to be a stumulus for business with Henderson merchants. The certificates were cashable only at banks which were members of the Henderson Clearing House association. At that time there were about seven local banks. Issued During Weed Season These certificates were issued during the tobacco marketing sea son and farmers received certifiates for their tobacco. It was the irst time such a money system had ever been used in Henderson. "Most people were a little bit afraid of these certificates," the banker recalls, "and they were so anxious to get rid of them that they would buy things which they really did not need." "This, you see," the banker said, "stimulated business to such an extent that that year, in a banking crisis proved to be a banner year for business with Henderson merchants." Developments Awaited The local bankers, like the public. are at a loss as to what they can do and what they cannot do under President Roosevelt's proclamation. In fact, they explained Monday, they are just sitting back awaiting word from Louisville: Louisville is awaiting a report from New York and New York is looking to Washington. In accordance with the praclamation of the President ordering all banks in the United States to close and remain closed until Friday, March 10, the Farmers Bank and Trust company and the Ohio Valley Banking & Trust company are complying with its provisions. Lauds President's Action The local banks received notices from Harry G. Smith, secretary of the Kentucky Bankers association that "all financial institutions are prohibited from performing any banking functions whatsoever" during the holidays. John C. Worsham, president of the Ohio Valley Banking & Trust company termed the president's ac tion as "a constructive step and essential toward preservation of the American banking institutions."