11688. Bank of Sampson (Clinton, NC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 22, 1931
Location
Clinton, North Carolina (35.000, -78.332)

Metadata

Model
gpt-5-mini
Short Digest
24426759

Response Measures

None

Description

Multiple June 22–23, 1931 articles report the Bank of Sampson did not open and was placed in the hands of the state banking department after the nearby Bank of Clinton closed. This appears to be a suspension prompted by distress at a local bank (avoid a run). OCR in Article 1 is garbled; dates and phrases were corrected (June 22, 1931). No explicit reopening is reported; state department conservation language implies government custody/receiver action.

Events (1)
1. June 22, 1931 Suspension
Cause
Local Banks
Cause Details
Closed after the nearby Bank of Clinton shut; trustees/directors closed to prevent a run and protect depositors when notified of the other bank's intention to close. Placed in hands of state banking department to conserve assets for depositors.
Newspaper Excerpt
CLINTON, N. June Clinton was deprived of banking facilities with closing today of the Bank of Clinton, and the Bank of Sampson. ... The Bank announced it closed because had been notified of the Clinton tention to close and wished to prevent a run.
Source
newspapers

Newspaper Articles (3)
1. June 22, 1931 Goldsboro News-Argus Goldsboro, NC
Article from Goldsboro News-Argus, June 22, 1931

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Article Text

Bulletins June 22. Howard Simpson, cashier of the Guilford Bank county. today admitted shortage "$20,000 more" his counts, state banking department officials announced. The bank did not open today. Washington. June 22. federal deficit today driven down to $879,168,571 by additional payments the second installment of 1930 income taxes. Intax payments tabulated June totaled and caused decline of from the preceding day's deficit figure. Raleigh, June 22. political gossip steadily increasing Governor Max emphatically denied that been was supporting the Ehringhaus Elizabeth City for governor. June (AP) officers stated that the Bird. 80-year-old farmer the federal bank had had notice Lauada section struck the intention of the Bank of Clinautomobile and instantly heavy ton close. Anticipating killed on highway near here to- which the bank might not said the aged man able the Sampson notice from behind truck di- the directors therefore orderthe path of an automobile the bank closed Dan DeHart. Officers the Bank of Sampson June stitution was solvent. They driver they hoped able to reopen. the automobile which Vivian Bethune president McKenzie is cashier of the Bank Gordon met her death, today accused Harry Stein strangling the Broadway night club habitue Graham president Robinson cashier of the Bank man to whom was inSampson. debted. Schiletten made the accuThe Bank of Clinton had resoursation testifying state $484,273.79 according to the of murder trial of Stein made March 25. The report Samuel Greenberg before Juscapital stock the bank Albert Cohn and in the jury taled surplus Bronx supreme court.

2. June 22, 1931 Goldsboro News-Argus Goldsboro, NC
Article from Goldsboro News-Argus, June 22, 1931

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Article Text

Bank Of Closes To Sampson Avoid Run After Bank Of Clinton Shuts Up (Special to Bank of June Clinton state bank. and the Bank Sampson federal bank. did not open business here this morning. leaving Clinton without banking notice posted on the door of the Bank Clinton stated order of the board directors, the bank has been placed in the hands of the state banking conserving the interthe depositors. the door of notice posted on the Bank Sampson. which Just across the street from the Bank of be expressed belief that the insaid and and paid toand loans and discounts Bank Sampson on the The issued report showcapital

3. June 23, 1931 The Atlanta Constitution Atlanta, GA
Article from The Atlanta Constitution, June 23, 1931

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Article Text

TWO CLINTON BANKS SUSPEND OPERATION CLINTON, N. June Clinton was deprived of banking facilities with closing today of the Bank of Clinton, and the Bank of Sampson. The first notified depositors had placed its affairs in the state department assets for depositors. The Bank announced it closed because had been notified of the Clinton tention to close and wished to prevent a run. The Bank of Clinton listed capital $50,000. resources the Sampson. capital $30,000: resources $263,788.50.