Bank of McCool (McCool, MS)

Episode Information

Episode UID
85034371572
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
8503437 routing
Routing Number
85-0343
Start Date
December 23, 1930
Location
McCool, Mississippi (33.202, -89.345)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
c49cb062c47f33af

Response Measures

None

Description

Newspapers report the bank 'closed its doors' on Dec 23, 1930, but no reopening or receivership details are provided.

Events (1)
1. December 23, 1930 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank of McCool closed its doors (reported Dec. 23, 1930); implied insolvency or protective closure though explicit cause not given
Newspaper Excerpt
JACKSON Miss. Dec. 23 The Bank of McCool. small Attala county institution. closed its doors today
Source
newspapers

Newspaper Articles (4)
1. December 24, 1930 The Vicksburg Post Vicksburg, MS
Article from The Vicksburg Post, December 24, 1930

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Article Text

ETHEL BANK CLOSES JACKSON, Dec. 24.-After meeting all demands through the day, the Bank of Ethel, in Attala county, was forced to close its doors last night as a protective step in behalf of depositors, J. S. Love, state superintendent of banks, announced A small run on the bank developed from the closing yesterday of the Bank of McCool, at McCool, nearby, it was reported to the banking department and although all withdrawals were handled, officers, on petition of a number of large depositors, decided on suspension. The Bank of Ethel is capitalized at $10,300, with surplus of $11,000. Total deposits were estimated to be $150,000. A plan of "freezing" deposits has been advanced in connection with possible reopening of the bank, Supt. Love said. The plan, based on & system of restricted withdrawals, is being utilized in connection with reopening closed banks at Greenwood, the superintendent pointed out, and was winning enthusiastic support of depositors. To prove that Ireland does have snakes, the Dublin ZOO will exhibit a specimen, nearly three feet long, which was found by child while playing in a Dublin garden. More than 21,500,000 acres in Argentina were planted to wheat this season. I believe most positively in my own ideas, right or wrong. -George Jean Nathan. The Irish Free State has apgovernment officials to consider applications for protective tariffs.

2. December 24, 1930 The Greenwood Commonwealth Greenwood, MS
Article from The Greenwood Commonwealth, December 24, 1930

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Article Text

BANK OF ETHEL CLOSES DOORS Run Following Closing of Bank McCool Causes Action of Directors JACKSON, Miss. (AP) After meeting all demands through the day, the Bank of Ethel, in Attala county, was forced to close its doors last night as protective step in behalf of depositors, J. Love, state superintendent banks, announced today A small run on the bank developed from the closing yesterday the Bank of McCool, at McCool, nearby, was reported to the banking department and although all were handled, officers, on petition of number of large depositors, decided on suspension. The Bank of Ethel is capitalized $10,300, with surplus of $11,000. Total deposits were estimadto be $150,000 A plan of "freezing" deposits has been advanced in connection with possible reopening of the bank, Supt Love said. The plan, based on system of restricted withdrawals, being utilized connection with the reopening of the closed banks Greenwood, the superintendent pointed out and was winning enthusiastic support of depositors.

3. December 24, 1930 Chattanooga Daily Times Chattanooga, TN
Article from Chattanooga Daily Times, December 24, 1930

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Article Text

NEW YORK BANK CLOSES FOLLOWING HEAVY RUNS NEW YORK, Dec. 23 (AP) The Chelsea Bank and Trust company, small institution patronized mostly by theatrical people, was taken over by State perintendent of Banks Joseph Broderick today following heavy withdrawals. Broderick said he closed the bank to preserve its assets for depositors. The institution operated seven offices It owned the Ohelsea Exchange Safe Deposit company and the Chelsea Exchange corpora ation. securities firm. The Chelsea bank was national and state depository but not a member of either the federal reserve or the New York clearing house It was capitalized at $2,500,000, had deposits of approximately $18,000,000 and total resources of $23,000,000. HARTFORD Conn., Dec 23 (AP) Two Hartford banks the Riverside Trust company and Palotti Andrea & Co., were suspended today by Bank Commissioner Lester E. Shippe following runs on both institutions The state manual for 1930 gave the capital of the Riverside Trust company. incorporated in 1907. as $400 000 surplus $600,000. undivided profits $244. 229.61, savings deposits $643.805 23 and commercial deposits $3,185,455 10. MIAMI, Fla Dec. 23 (AP) The City bank, of Miami Beach. which underwent heavy run yesterday following the closing of the City National bank in Miami, did not open this morning The bank had capital stock of $100,000. surplus of $50,000 and deposits of $600,000 at the last call. WASHINGTON Ga., Dec. 23 (AP) A notice the door of the National Bank of Wilkes county here today said the institution had been closed pending a meeting of the board of directors The bank was capitalized at $50,000 and assets were reported at $400,000 BESSEMER Ala. Dec. 23 City National bank and the Bessemer Trust and Savings bank failed to open for business today and officials issued statements saying they were acting for the best interests of depositors The Bessemer Trust according to its last published report had capital of $60,000 and surplus of $2,000. with de. posits of The City National was capitalized at $100.000. with surplus of $33,630 shown in the last published report and deposits of $800,150 JACKSON Miss. Dec. 23 The Bank of McCool. small Attala county institution. closed its doors today The bank. capitalized at $15,000 car. ried deposits of $100.000 with surplus listed by the banking department at

4. December 25, 1930 Clarion-Ledger Jackson, MS
Article from Clarion-Ledger, December 25, 1930

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Article Text

ATTALA BANK IS FORCED TO CLOSE Run Develops from Closing of Institution at Mc- Cool After meeting all demands through the day, the Bank of Ethel, in Attala county, was forced to close its doors Tuesday night as a protective step in behalf of depositors, J. S. Love, state superintendent of banks, announced today. A small run on the bank developed from the closing Tuesday of the Bank of McCool, at McCool, nearby, it was reported to the banking department and although all withdrawals were handled, officers, on petition of a number of large depositors, decided on suspension. The Bank of Ethel is capitalized at $10,300, with surplus of $11,000. Total deposits were estimated to be $150,000. plan of "freezing" deposits has been advanced in connection with