Articles indicate the bank was closed and a receiver (W. H. Spradlin Jr.) was appointed (July 18, 1931). A 1932 article discusses litigation by the receiver over payments made before the bank closed. No evidence of a depositor run is mentioned. I corrected minor punctuation/spacing in the bank name (People's/Peoples) but the provided name was used.
Events (3)
1.July 18, 1931Receivership
Newspaper Excerpt
The receiver, anxious to get every penny out of the assets in liquidating the bank... He also announced that he had no plan to buy the bank, as reported (W. H. Spradlin, Jr., receiver of the People's National).
Source
newspapers
2.July 18, 1931Suspension
Cause
Government Action
Cause Details
Receiver (W. H. Spradlin, Jr.) appointed and bank placed in receivership/closed by regulatory/government action
Newspaper Excerpt
Winston July 18.-A depositors committee, of men of mature judgment, will be appointed voluntarily by W. H. Spradlin, Jr. receiver, of the People's National
Source
newspapers
3.June 22, 1932Other
Newspaper Excerpt
Judge Johnson Hayes signed motion federal court Wednesday making Spaugh Taylor Simpson, parties the suit brought by lin, receiver Peoples National bank Winston against United States Fidelity Guaranty company several weeks In this action the receiver sues the guaranty company and Spaugh and for recovery of because alleged illegal which Simpson, bank employe, made to Spaugh and others before the closed year.
Source
newspapers
Newspaper Articles (2)
1.July 19, 1931The News and ObserverRaleigh, NC
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Article Text
RECEIVER TO APPOINT DEPOSITORS COMMITTEE
Winston July 18.-A depositors committee, of men of mature judgment, will be appointed voluntarily by W. H. Spradlin, Jr. receiver, of the People's National The receiver, anxious to get every penny out of the assets in liquidating the bank. determined to protect the depositors far as is humanly possible. Therefore the determination to draw around bimself an advisory of men directinterested in ehalf of the depositors. He also announced that he had no plan to buy the bank, as reported
Made Parties To Suit Started By Bank Receiver
Judge Johnson Hayes signed motion federal court Wednesday making Spaugh Taylor Simpson, parties the suit brought by lin, receiver Peoples National bank Winston against United States Fidelity Guaranty company several weeks In this action the receiver sues the guaranty company and Spaugh and for recovery of because alleged illegal which Simpson, bank employe, made to Spaugh and others before the closed year. The guaranty company filed answer Wednesday denying liability.
