91. Clanton Bank (Clanton, AL)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
March 1, 1916*
Location
Clanton, Alabama (32.839, -86.629)

Metadata

Model
gpt-5-mini
Short Digest
a2cbea9128309bec

Response Measures

None

Description

Articles report heavy withdrawals (a run) leading to suspension of payments on March 11, 1916, and the state superintendent taking over the bank after failure in early April 1916 (receiver/closure). Dates inferred from publication dates: suspension 1916-03-11 (Article 2), state takeover/failure ~1916-04-10 (Article 1 says the bank 'failed yesterday' in Apr 11 article). 'State' bank inferred because the State Superintendent of Banks took possession.

Events (3)
1. March 1, 1916* Run
Cause Details
Recent heavy withdrawals (run) but article does not specify a triggering rumor or specific scandal.
Newspaper Excerpt
Recent heavy withdrawals from the bank is believed to have been largely responsible for its failure.
Source
newspapers
2. March 11, 1916 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspension of payments on March 11 following heavy withdrawals and financial distress.
Newspaper Excerpt
the Clanton bank ... suspended payment on March 11.
Source
newspapers
3. April 10, 1916 Receivership
Newspaper Excerpt
State Superintendent of Banks Alex E. Walker today took over the affairs of the Clanton bank at Clanton, which failed yesterday.
Source
newspapers

Newspaper Articles (2)
1. April 12, 1916 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, April 12, 1916

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Article Text

Clanton Bank Fails Montgomery, April 11.-(Special.) State Superintendent. of Banks Alex E. Walker today took over the affairs of the Clanton bank at Clanton, which failed yesterday. The bank was capitalized at $150,000, with deposits of about $35,000. W. I. Mullins of Clanton was president, and Dr. E. A. Matthews, cashier. Recent heavy withdrawals from the bank is believed to have been largely responsible for its failure. It is not known whether or not the depositors will be protected.

2. April 30, 1916 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, April 30, 1916

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Article Text

SEEK SETTLEMENT OF BANK'S AFFAIRS Clanton, April 29.-(Special.)-There was a ripple of excitement here this morning when the state banking department. through its attorneys, William M. Adams of Clanton and Steiner, Crum & Weil of Montgomery, filed a bill to set aside certain conveyances which would stand in the way of the payment of the depositors of the Clanton bank, which suspended payment on March 11. The following residents were made parties to the bill: E. A. Matthews, W. I. Mullins, W. Rv Sartor, P. D. Wilson, N. A. Kicker, Belle J. Matthewys, G. B. Wimberley, M. B. Sartor, J. P. Crumpton, Lillian Joseph Matthews, Samuel Curry Matthews and Mary E. Matthews, non-resident. The bill sets out that the several subscribers are liable to said bank for all of the unpaid 70 per cent of the subscriptions, and asks that they be required to pay the same.