Article states a person was appointed to wind up the affairs, indicating closure/receivership.
Events (1)
1.November 1, 1912Suspension
Cause
Government Action
Cause Details
Col. R. C. Ford appointed to wind up affairs (receiver/agent appointed to close the bank).
Newspaper Excerpt
The First State Bank of Middlesboro, has suspended business. Col. R. C. Ford of that city has been appointed to wind up the affairs of the bank.
Source
newspapers
Newspaper Articles (1)
1.November 1, 1912Mount Vernon SignalMount Vernon, KY
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Article Text
The First State Bank of Middlesboro, has suspended business. Col. R. C. Ford of that city has been appointed to wind up the affairs of the bank. Col. Ford is President of the First National Bank o! Middlesboro.
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.