7452. Bank of St. Helens (Saint Helens, KY)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
November 18, 1930
Location
Saint Helens, Kentucky (37.583, -83.647)

Metadata

Model
gpt-5-mini
Short Digest
da3d140d

Response Measures

None

Description

Multiple syndicated articles (dated 1930-11-18) report the Bank of St. Helens (a Louisville suburb) 'suspended as a precautionary measure' when the National Bank of Kentucky suspended amid 'wild rumors.' The pieces describe it as a precautionary suspension and state the bank was solvent; no explicit reopening date is provided in these clippings, but the suspension is presented as temporary rather than a failure. Cause is classified as local_banks because the action followed news of another bank's suspension.

Events (1)
1. November 18, 1930 Suspension
Cause
Local Banks
Cause Details
Suspended as a precaution after the National Bank of Kentucky suspended amid 'wild rumors' about its condition; action taken in reaction to other local bank's suspension and resulting nervousness among depositors/clearing relationships (served as a correspondent relationship).
Newspaper Excerpt
The Bank of St. Helens, Louisville suburb, suspended as a precautionary measure.
Source
newspapers

Newspaper Articles (10)
1. November 18, 1930 The Vicksburg Post Vicksburg, MS
Article from The Vicksburg Post, November 18, 1930

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Article Text

LEADERS HOPE BANKS Optimism Is Prevalent in Arkansas Financial Situation. SEEK OF THE GENERAL PUBLIC Little Rock Banker Reveals Plans to Return Normalcy. LITTLE ROCK, Ark., Nov. permeated statements Optimism Arkansas financial leaders they plans today reopen some banks which temsuspended or closed yesporarily terday. The executive committee of the American Exchange Trust Comhere, largest and one the pany oldest banks in state which together other banks, the aggregate deposits which were more than Banks, president of the Exchange, and controlling stockholder in of the other banks scattered over state, said the boards directors were trying to obtain pledges loyalty from their communities and capital to assure freedom of danger from run. Resumption of normal business the banks, he said, would folsuch to directors. of stability by assured the public that local are in sound have cash resources relatively small amount bills payable. Hysteria receiver proceedings interested of Caldwell and Company, Nashville, Tenn., bankuntil the American Exchange tributed by directors the latter the cause steady which reached about $4,000,000. The American Exchange Bank's capital was with deposits about as the last bank call in September. CLOSED IN KENTUCKY LOUISVILLE, Ky., Nov. Eight Kentucky financial institutions with resources totalling more than $75,000,000 were closed today. The largest of these the National Bank of Kentucky at Louisville, which was under the control Keyes, the staff of the comptroller the at Its Directors the Bank Kentucky the yesterday deemed necessary because of. "wild concerning its condition. Simultaneously with closing, two affilLouisville Trust Company and the Security Bank, suspended operations. Their directors they were solvent and that they were closed precautionary measure. three institutions affiliated through the holding company Negro Banks Close Two small negro banks Louisthe Mutual Bank and the First Standard Bank. which through the LouisTrust closed. The Bank of St. Helens, Louisville suburb, suspended as precautionary Two banks outside Louisville also closed when it was learned the National Bank of Kentucky suspended. They were the McElwain Meguiar Bank and Trust Company Franklin, and the First National Bank Horse Cave, Ky. The National Bank Kentucky served as correspondent for both. Officers of other leading Louisville statements last night depositors were than als, reported new accounts were opened during the day, and reiterated earlier that the institutions were solvent.

2. November 18, 1930 Hattiesburg American Hattiesburg, MS
Article from Hattiesburg American, November 18, 1930

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Article Text

IGHTKENTUCKY BANKS Institutions Have Resources in Excess of $75,000,000, Last Report Shows Associated Ky., Nov. Kentucky financial institutions with resources totalling more than $75,000,000 were closed today. The largest of these was the National Bank of Kentucky at Louisville, which was under the control of receiver, Paul C. Keyes, of the staff of the comptroller of the currency at Washington. Its resources approximate $60,000,000. Directors of the National Bank of Kentucky said the suspension yesterday was deemed necessary because of "wild rumors" concerning its condition, simultaneously with its closing. Two affiliated institutions, the Louisville Trust company and the Security bank, suspended operations Their directors said they were solvent and that they were closed as precautionary measure. The three institutions are affiliated, a holding company. Two small negro banks in Louisville, the American Mutual Savings Bank and the First Standard bank, which cleared through the Louisville Trust company, later closed. The bank of St. Helens, a Louisville suburb, also suspended as a precautionary measure. Two banks outside Louisville also closed when it was learned the Na-

3. November 18, 1930 Brownsville Herald Brownsville, TX
Article from Brownsville Herald, November 18, 1930

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Article Text

BANKS CLOSING AS PRECAUTION Many Kentucky Houses With Closed Doors Solvent, Officials Declare LOUISVILLE, Ky., Nov. 18.-(P) -Eight Kentucky financial institutions with resources totalling more than $75,000,000 were closed today. The largest of these was the National Bank of Kentucky at Louisville, which was under control of a receiver, Paul C. Keyes, of the staff of the comptroller of the currency at Washington. Its resources approximate $60,000,000. Directors of the National Bank of Kentucky said the suspension yesterday was deemed necessary because of "wild rumors" concerning its condition. Simultaneously with its closing, two affliated institutions, the Louisville Trust company and the Security Bank, suspended operations. Their directors said they were solvent and that they were closed as a precautionary measure. The three institutions are affiliated through the BancoKentucky, a holding company. Two small negro banks n Louisville, the American Mutual Savings bank and the First Standard bank, which cleared through the Louisville Trust company, later closed. The Bank of St. Helens, a Louisville suburb, also suspended as a precautionary measure. Two banks outside Louisville also closed when it was learned the National Bank of Kentucky had suspended. They were the McElwain Meguiar Bank and Trust company at Franklin, Ky., and the First National bank at Horse Cave. Ky. The National Bank of tucky served as correspondent for both. Officers of other leading Louisville banks issued statements last night declaring yesterday's deposits were greater than withdrawals, renorted new accounts were opened during the day, and reiterated earlier statements that the institutions were solvent.

4. November 18, 1930 The Washington Times Washington, DC
Article from The Washington Times, November 18, 1930

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Article Text

Eight Banks in Kentucky Suspend All Business LOUISVILLE, Nov. 18 (I.N.S.). Business was suspended today at eight Kentucky banks having resources of approximately $70,000,000. Among them was the National Bank of Kentucky, a 96-year-old institution, for which a receiver was named bv the Federal controllers' department. The Louisville Trust Company and the Security Bank closed their doors, as a precautionary measure, according to the directors. Both institutions are solvent, directors said. Other institutions to suspend business were the American Mutual Savings Bank and the First Standard Bank, both clearing through the Louisville Trust Company; the Bank of St. Helens, Louisville suburb; the McElwainMeguiar Bank and Trust Company, of Franklin, Ky., and the First National Bank at Horse Cave.

5. November 18, 1930 The Town Talk Alexandria, LA
Article from The Town Talk, November 18, 1930

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Article Text

Kentucky Banks With $75,000,000 in Resources Close LOUISVILLE, Ky., Nov. Kentucky financial institutions resources totaling more than $75,000,000 were closed today. The largest of these was the National Bank Kentucky at Louisville, which under the control of receiver, Paul Keyes, of the staff of the comptroller of the currency Washington. Its resources approximate Directors of the National Bank of Kentucky the suspension yesterday necessary because of rumors" concerning its with its closing. Two affiliated institutions, the Louisville Trust Company and the Security Bank, operations. Their directors said they were solvent and that they closed as precautionary measure. The three institutions affiliated through the holding comTwo small negro banks in Louisville, the Mutual Savings Bank and the First Standard Bank, which cleared the Trust Company, later closed. The Bank of St. Helens, Louisville suburb, also suspended as precautionary Two banks Louisville also closed when learned the National Bank had suspended. They were the McElwain Megular Trust Company at Franklin, Ky. and the First National Bank Cave, Ky. The National Bank of Kentucky served as correspondent for both. Bank's Control Changed Brighton Bank and Trust Company and the Pearl MarRet Bank and Trust Company, whose was held by the Company, today passed from individual control into the hands the Clearing House Association. was announced by the clearing Eight the largest banks in Cin ment said they supported the clearing house in taking control of the two The Company headed by James B. Brown. Louisformer president of the National Bank Kentucky, arranged on September 1939, acquire control of the Brighton Bank and Trust Company and Pearl Market Bank and Trust Company The two Banks were consolidated but continued operation as separate units. Gustave M. Mosler who had been president the Brighton Bank was made president of the combined banks.

6. November 18, 1930 The Brownsville Herald Brownsville, TX
Article from The Brownsville Herald, November 18, 1930

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Article Text

BANKS CLOSING AS PRECAUTION Many Kentucky Houses With Closed Doors Solvent, Officials Declare -Eight Kentucky financial institutions with resources totalling more than $75,000,000 were closed today. The largest of these was the NaLional Bank of Kentucky at Louisville, which was under control of a receiver, Paul C. Keyes, of the staff of the comptroller of the currency at Washington. Its resources approximate $60,000,000 Directors of the National Bank of Kentucky said the suspension yesterday was deemed necessary because of "wild rumors" concerning its condition. Simultaneously with its closing, two affliated institutions, the Louisville Trust company and the Security Bank, suspended operations. Their directors said they were solvent and that they were closed as 2 precautionary measure. The three institutions are affiliated through the BancoKentucky, a holding company. Two small negro banks n Louisville, the American Mutual Savings bank and the First Standard bank, which cleared through the Louisville Trust company, later closed. The Bank of St. Helens. a Louisville suburb, also suspended as a precautionary measure Two banks outside Louisville also closed when it was learned the National Bank of Kentucky had suspended. They were the McElwain Megular Bank and Trust company at Franklin. Ky. and the First National bank at Horse Cave Ky. The National Bank of Kentucky served as correspondent for both. Officers of other leading Louisville banks issued statements last night declaring vesterday's deposits were greater than withdrawals. renorted new accounts were opened during the day. and reiterated earlicr statements that the institutions were solvent.

7. November 18, 1930 The Brownsville Herald Brownsville, TX
Article from The Brownsville Herald, November 18, 1930

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Article Text

BANKS CLOSING PRECAUTION Houses With Many Kentucky Closed Doors Solvent, Officials Declare LOUISVILLE, Ky., Nov. Kentucky financial instituwith resources totalling more tions $75,000,000 were closed today. than these was the NaThe largest of of Kentucky at Louistional Bank under control of ville, which was C. Keyes, of the receiver, Paul staff of the comptroller of the curIts resources rency at approximate Directors of the National Bank said the suspension yesKentucky deemed necessary beterday was cause of "wild rumors" concerning Simultaneously with its condition. two affliated instituits closing, tions, the Louisville Trust company and the Security Bank, suspended operations. Their directors said they were solvent and that they were closed precautionary The three Institutions affiliated through the BancoKentucky, holding company. Two negro banks in Louisville, the Mutual Savings bank the First Standard bank which through the Louisville Trust closed. The Bank of St. Helens, Louisville suburb, also suspended as precautionary Two banks outside Louisville also closed when was learned the National Bank Kentucky had suspended. They were the McElwain Mcguiar Bank and Trust company Franklin. Ky., and the First Naat tional bank at Horse Cave. Ky. The National Bank of served as correspondent for both. Officers other leading Louisville banks issued statements night declaring yesterday's deposits were greater than withdrawals. ported new accounts were opened during the day. and reiterated earlier statements that the institutions were solvent.

8. November 18, 1930 Chippewa Herald-Telegram Chippewa Falls, WI
Article from Chippewa Herald-Telegram, November 18, 1930

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Article Text

EIGHT KENTUCKY BANKS CLOSED Largest of All National Bank at Louisville With Sixty Million Resources. Louisville, Ky. Kentucky financial institutions with totalling more than $75,000,000 were closed today. The largest of these was the National Bank of Kentucky at Louisville, which was under control of Paul Keves, of the staff of the comptroller the currency Washington. Its resources of approximate Directors of the National Bank of Kentucky said the suspension yesterday was deemed necessary because of concerning its condition. with its closing, two affiliated instiutions, the LouisTrust company and the Security Bank, suspended operations. Two small negro banks in Louisville, the American Mutual Savings bank and the First Standard bank, which cleared through the Louisville Trust company, later closed. The Bank of St. Helens, Louisville suburb, also suspended as a precautionTwo banks outside Louisville closed when was learned the National Bank of suspendThey were the McElwain Meguiar Bank and Trust Company Franklin, and the First National Bank Horse Cave, Ky. The National Bank of Kentucky served correspondent for both.

9. November 18, 1930 The Muscatine Journal Muscatine, IA
Article from The Muscatine Journal, November 18, 1930

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Doors Closedign 8 Kentucky Banks Louisville, Eight Kentucky financial institutions with resources totalling more than $75,000,000 were Closed today The largest of these was the National Bank of Kentucky at Louisville, which was Under the control of receiver, Paul C. Keyes, of the staff of She comptroller of the currency at Washington Its resources approximate $60,000,000. Directors of the National Bank of Kentucky said the Suspension Monday was deemed -nucessary because of "wild rumors 4oncerning its condition. Simultaneously with two affiliated institutions, the Louisville Trust company and the Security bank. suspended operations. The other banks diofed were two small negro banks IN Louisville, the American Mutual Savings bank and the First Standard bank; the Bank of St. Helens, a Lousiville suburb the M Elwain Meguiar Bank and Trust company at Franklin, Ky., and First National bank at Horse Cave Ky.

10. November 18, 1930 The Daily World Helena, AR
Article from The Daily World, November 18, 1930

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Article Text

CRASH OF BANKS STILL IS HEARD IN OLD KAINTUCK EIGHT FINANCIAL INSTITUTIONS IN THAT STATE HAVE CLOSED THEIR DOORS Louisville, Ky., Nov. Eight Kentucky financial institutions with resources totalling more than $75,000,000 were closed today The largest of these was the National Bank of Kentucky at Louisville, which was under the control of a receiver, Paul C. Keyes, of the staf of the comptroller of the eurrency at Washington. Its resources approximate $60,000,000. Directors of the National Bank of Kentucky said the suspension was deemed necessary because of "wild rumors" concerning its condition. Simultaneously with its closing, two affiliated institutions. the Louisville Trust Company and the Security Bank, suspended operations. Their directors said they were solvent and they were closed as a precautionary measure. The three institutions are affiliated through the Banco-Kentucky. a holding company. Two small negro banks in Louisville later closed. The Bank of St. Helens, a Louisville suburb, also suspended as a precautionary measure. Two banks outside Louisville, the McElwain Meguiar Bank and Trust Company at Franklin, Ky., and the First National Bank at Horse Cave, Ky. The National Bank of Kentucky served as correspondent for both.