gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d100a248adf0577e
Response Measures
None
Description
Initial closure prompted by rumors; later inventory and court actions revealed insolvency and receiver appointed.
Events (5)
1.August 3, 1906Receivership
Newspaper Excerpt
Receiver Appointed. The Chancery Court, at the suit of certain depositors, appointed Alfred L. Staples receiver of the Scranton State Bank, which has closed its doors
Source
newspapers
2.August 3, 1906Run
Cause
Rumor Or Misinformation
Cause Details
Unfounded rumors about the bank's stability triggered a rush of depositors demanding cash; bank had insufficient on-hand funds.
Measures
Decided to temporarily close its doors to protect depositors; planned to resume in a day or two.
Newspaper Excerpt
Start Run on the Bank. Unfounded rumors in regard to the stability of the Scranton State Bank caused a run on the Bank
Source
newspapers
3.August 3, 1906Suspension
Cause
Rumor Or Misinformation
Cause Details
Bank temporarily closed because it could not meet the rush of withdrawals caused by rumor-driven run.
Newspaper Excerpt
temporarily close its doors. The Bank's assets ... As is the case with all country banks, no large amount of money was kept on hand
Source
newspapers
4.August 9, 1906Other
Newspaper Excerpt
The Scranton State Bank closed its doors and was placed in the hands of a receiver. The Scranton bank, in its fall, also brought down with it the banks at Moss Point and Ocean Springs, which were branches of the Scranton institution.
Source
newspapers
5.January 6, 1909Other
Newspaper Excerpt
BANK PROPERTY SOLD BY ORDER OF RECEIVER Scranton. Miss., Jan. 6.-Receiver A. L. Staples, of the Scranton State bank, sold today under order of the chancery court the property in this city, together with the banking house belonging to the defunct institution.
Source
newspapers
Newspaper Articles (12)
1.August 3, 1906Greene County HeraldLeakesville, MS
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Article Text
Start Run on the Bank. Unfounded rumors in regard to the stability of the Scranton State Bank caused a run on the Bank, which, in order to protect its depositors, decided to temporarily close its doors. The Bank's assets, which are unquestionably sound, far exceed its liabilities. As is the case with all country banks, no large amount of money was kept on hand, and in this instance the Bank's supply of cash was not sufficient to meet the rush of timid depositors. No one doubts the solvency of this institution, which will in a day or two resume operations.
2.August 3, 1906Greene County HeraldLeakesville, MS
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Article Text
Receiver Appointed. The Chancery Court, at the suit of certain depositors, appointed Alfred L. Staples receiver of the Scranton State Bank, which has closed its doors The condition of the bank is not definitely known and can not be determined until is complete inventory is made of its affairs. Depositors are evincing more or less anxiety.
3.August 9, 1906Oxford EagleOxford, MS
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Article Text
Three Banks Close. The Scranton State Bank closed its loors and was placed in the hands of a receiver. The Scranton bank, in its fall, also brought down with it the banks at Moss Point and Ocean Springs, which were branches of the Scranton institution.
4.August 10, 1906The CommonwealthGreenwood, MS
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Article Text
Three Banks Close. The Scranton State Bank closed its doors and was placed in the hands of a receiver. The Scranton bank, in its fall, also brought down with it the banks at Moss Point and Ocean Springs, which were branches of the Scranton institution.
5.August 10, 1906The Tupelo JournalTupelo, MS
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Article Text
Three Banks Close. The Scranton State Bank closed its doors and was placed in the hands of a receiver. The Scranton bank, in its fall, also brought down with it the banks at Moss Point and Ocean Springs, which were branches of the Scranton institution.
6.August 11, 1906Macon BeaconMacon, MS
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Article Text
Three Banks Close. The Scranton State Bank closed its doors and was placed in the hands of a receiver. The Scranton bank, in its fall, also brought down with it the banks at Moss Point and Ocean Springs, which were branches of the Scranton institution.
7.April 19, 1907Greene County HeraldLeakesville, MS
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Article Text
Bill Dismissed. Chancellor Thad A. Wood handed down his decision in the case of Mrs. Annie L. Benjamin versus A. L. Staples, receiver of the Scranton State Bank, dismissing the bill of complainant. The bill sought to establish a preference claim against the assets of the bank in favor of Mrs. Benjamin and Mrs. M. L. Holcomb, whose claims aggregated $15,000, virtue of an attachment on the banking house and other assets of the defunct bank.
BANK PROPERTY SOLD BY ORDER OF RECEIVER Scranton. Miss., Jan. 6.-Receiver A. L. Staples, of the Scranton State bank, sold today under order of the chancery court the property in this city, together with the banking house belonging to the defunct institution. The sale, took place in front of the couty court house and a large crowd was present. The bidding, however, was slow and the property was finally knocked down to Walter Gaulter, of West Pascagoula, for $10,005. This is one of the most desirable properties in the county, the banking-house being a two-story brick and stone building. The price paid is regarded as fair and the sum realized will add materially to the next dividend to be ordered by the court in March.
9.April 9, 1909The Pascagoula Democrat-StarPascagoula, MS
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Article Text
Notice to Depositors and Creditors of Scranton State Bank. W. H. WESTFALL, ET AL.. vs. SCRANTON STATE BANK. All depositors or other creditors of the Scranton State Bank who have not heretofore registered or probated their claims in the office of the Clerk of the Chancery Court of Jackson County, Mississippi, are hereby notified to register or probate the same in the office of the Clerk of the Chancery Court of said County. within sixty (60) days from the date hereof. or they will be debarred from participating in the distribution of the assets of said bank in the hands of the receiver. The above notice is given pursuant to an order of the Chancery Court of Jackson County. Mississippi, entered in the case of W. H. Westfall, et al., vs. Scranton State Bank, on March 17. 1909. Witness my hand this the 18th day of March, A. D. 1909, I. P. DELMAS, Clerk. March 19, 1909. 7-8t
10.April 16, 1909The Pascagoula Democrat-StarPascagoula, MS
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Article Text
Notice to Depositors and Creditors of Scranton State Bank. W. H. WESTFALL, ET AL., vs. SCRANTON STATE BANK. All depositors or other creditors of the Scranton State Bank who have not heretofore registered or probated their claims in the office of the Clerk of the Chancery Court of Jackson County, Mississippi, are hereby notified to register or probate the same in the office of the Clerk of the Chancery Court of said County, within sixty (60) days from the date hereof. or they will be debarred from participating in the distribution of the receiver. assets of said bank in the hands of the The above notice is given pursuant to an order of the Chancery Court of Jackson County. Mississippi, entered in the case of W. H. Westfall, et al., vs. Scranton State Bank, on March 17. 1909. Witness my hand this the 18th day of March, A. D. 1909, I. P. DELMAS, Clerk. March 19, 1909. 7-8t
11.May 7, 1909The Pascagoula Democrat-StarPascagoula, MS
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Article Text
Notice to Depositors and Creditors of Scranton State Bank. W. H. WESTFALL, ST AL. vs. SCRANTON STATE BANK. All depositors or other creditors of the Scranton State Bank who have not heretofore registered or probated their claims in the office of the Clerk of the Chancery Court of Jackson County, Mississippi, are hereby notified to register or probate the name in the office of the Clerk of the Chancery Court of said County. within sixty (60) days from the date hereof. or they will be debarred from participating In the distribution of the assets receiver. of said bank-in the hands of the The above notice is given pursuant to an order of the Chancery Court of Jackson County. Mississippi, entered in the case of W. H. Westfall, et al., vs. Scranton State Bank, on March 17. 1909. Witness my hand this the 18th day of March, A. D. 1909. I. P. DELMAS, Clerk. March 19, 1909. 7-St
12.March 23, 1910The Hattiesburg NewsHattiesburg, MS
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Article Text
STEWART ON TRIAL IN SCRANTON BANK CASE Gulfport, Miss., March 23. - When the case of the State of Mississippi VS. J. W. Stewart, of Moss Point, charged with accepting deposits for the Scranton State Bank while acting as cashier of the Moss Point branch, knowing that said bank was insolvent, was resumed yesterday morning. J. I. Ford and P. K. Mayers, who were directors of the bank, identified the minutes and charter. Mr Mayers testified that he knew nothing of the bank's condition at the time of the failure. A. L. Staples, receiver of the bank, then took the stand and went over the details of the condition of the bank when he took charge and stated what he did to recover the losses sustained by the bank, which at the time of the failure amounted to $125,000, on loans to four concerns on notes without any endorsement or collateral. At the noon hour court adjourned with Staples still on the stand.
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.
