Article merely states bank closed/failed; no trigger or cause given.
Newspaper Excerpt
TWO BANKS FAIL AUSTIN, Texas, Feb. People's State bank of Ranger ... closed their doors today.
Source
newspapers
Newspaper Articles (1)
1.February 3, 1925Muskogee Daily Phoenix and Times-DemocratMuskogee, OK
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Article Text
TWO BANKS FAIL AUSTIN, Texas, Feb. People's State bank of Ranger and the State bank of Lometa, closed their doors today. Deposits of the Ranger bank totalled about and those of the Lometa bank $78,000. Austin said,
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.