Bank of Franklin (Franklin, NC)

Episode Information

Episode UID
3831597791572
Episode Type
Run → Suspension → Reopening
Bank Type
state
Bank ID
383159779 hash
Start Date
December 15, 1930
Location
Franklin, North Carolina (35.181, -83.382)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
10003fd69eb483f5

Response Measures

None

Events (4)
1. December 15, 1930 Run
Cause
Local Banks
Cause Details
Heavy withdrawals and runs in nearby/local banks and towns led depositors to withdraw funds from the Bank of Franklin.
Newspaper Excerpt
The Bank of Clyde, with deposits of $105,000, was closed because of heavy withdrawals. The Bank of Franklin ... failed to open after withstanding runs yesterday.
Source
newspapers
2. December 16, 1930 Suspension
Cause
Local Banks
Cause Details
Directors closed the bank as a precautionary measure because of heavy withdrawals (runs) in the area.
Newspaper Excerpt
Closing of the Bank of Franklin in Macon county left that town without a financial institution.
Source
newspapers
3. April 29, 1931 Reopening
Newspaper Excerpt
The Bank of Franklin, a small State bank here, which suspended operations last December 16, reopened for business today.
Source
newspapers
4. March 24, 1933 Other
Newspaper Excerpt
The Bank of Franklin opened Wednesday morning for the purpose of paying off any who had placed in the bank during the past two years. About two years ago the Bank of Franklin closed, but later opened as new institution ... offering all depositors the last two years their money.
Source
newspapers

Newspaper Articles (11)
1. December 16, 1930 Grand Haven Tribune Grand Haven, MI
Article from Grand Haven Tribune, December 16, 1930

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Article Text

EIGHT NORTH CAROLINA BANKS FAIL TO OPEN CHARLOTTE N. Car., Dec. 16 (AP) Eight North Carolina banks. four in the western part of the state and four in Gaston county either failed to open or closed their doors today. Directors of the institutions in each case explained the action was taken as a precautionary measure for the protection depositors. Heavy withdrawals generally was given as the reason. The First National Bank of Gastonia, the largest of the eight had deposits of $3,066,072 Re sources were given as $4,656,067 The other three Gaston banks. the Gaston Loan and Trust Com pany of Gastonia, the Bank of Dallas and the Peoples Bank of West Gastonia were comparatively small institutions. Their combined deposits totalled $270,052.84. Clos ing of the bank of Franklin in Macon county left that town with out a financial institution. The Pank of Swannonoa failed to open after withstanding runs yesterday. The bank of Fletcher in Henderson county closed in the

2. December 16, 1930 The Houston Chronicle Houston, TX
Article from The Houston Chronicle, December 16, 1930

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Article Text

EIGHT BANKS IN NORTH CAROLINA BUSINESS Associated Press. Charlotte, Dec. North Carolina banks, four part the state four Gaston County, closed their today. of the institutions in case taken ure for protection deposit"Heavy generas the reason. First Bank Gastonia, the eight, deposits given other three Gaston banks, the Gaston Loan Trust pany, of Bank and People's Bank West Gastonia small The Closing the Bank of Franklin, in Macon left that town without financial institution. The deposits were listed which Franklin month, had deposits of The Bank of with deposits the Bank Clyde, with deposits failed after withstanding Bank Fletcher, Henderson County, closed the after remaining open hour and half. posits were listed

3. December 16, 1930 The Boston Daily Globe Boston, MA
Article from The Boston Daily Globe, December 16, 1930

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Article Text

THREE BANKS IN NORTH CAROLINA TOWNS CLOSED ASHVILLE, N C, Dec 16 (A. P.)Three banks in small Western North Carolina towns failed to open their doors today. The closing of the bank of Franklin left that town without financial "institution The bank had deposits of approximately $541,800. The Band of Clyde, with deposits of $105,000, was closed because of heavy withdrawals. The same reason was given for the closing of the Bank of Fletcher, which had deposits of $103,500

4. December 16, 1930 The Chickasha Daily Express Chickasha, OK
Article from The Chickasha Daily Express, December 16, 1930

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Article Text

NORTH BANKS SUSPEND Eight Closed by Directors; Heavy Withdrawals Given as Main Reason. Charlotte, N. C., Dec. 16. North Carolina banks, four in the western part of the state and four in Gaston county, closed their doors today. Directors of the institutions in each explained the action was taken as measure for the of "Heavy withdrawals" generally was given as the reason. The First National Bank of Gastonia, the largest of the eight, had deposits of $3,066,072. Resources were given at $4,656,067. The other three Gaston banks, the Gaston Loan and Trust company, of Gostonia, the Bank Dallas and the Peoples Bank of West Gastonia small institutions. Closing of the Bank of Franklin, in Macon county, left that town without financial institution. The Bank of and the Bank of Clyde, failed to open after withstanding runs yesterday. The Bank of Fletcher, in Henderson county, closed in the face of heavy withdrawals after the remaining open an hour and half.

5. December 16, 1930 The Sentinel Winston-Salem, NC
Article from The Sentinel, December 16, 1930

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Article Text

CLOSE DOORS Four in Gaston County Among Number; One Left in Gastonia. one in Bertie County shut their The First National Bank of Gas tonia, was the largest the deposits of $3,066,072.11 on Sep tember 24. The Peoples Bank of Waco, in Cleveland County, capital $5 and resources of $111,338.28 shut The Clayton Banking Company Clayton capitalized at $75,000 and with resources of 36, did not open. Bank of Aulander in Bertie capital and resources of $385,896.95 also did not Raleigh (P) Eleven banks North Carolina closed their doors September 24 Report today. The First National Bank of Four banks in Gaston County. four tonia had deposits of $3,066,072.11 the Asheville area of Western listed in its September 24 report ReNorth Carolina. one in Cleveland given at 68. County. one in Johnston County and The other three banks the Gaston Loan and Trust Company, of Gastonia: the Bank of Dallas, and the People Bank, of West Gas "We Know How" tonia, were comparatively small Half Soles The combined deposits totaled $1.00 and Heels Closing of the Bank of Franklin in Free Shine Tickets with each every day Macon County left that town with

6. April 29, 1931 Evening Star Washington, DC
Article from Evening Star, April 29, 1931

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Article Text

North Carolina Bank Reopens. FRANKLIN, N. C., April 29 (P).The Bank of Franklin, a small State bank here, which suspended operations last December 16, reopened for business today.

7. April 29, 1931 News and Record Greensboro, NC

Article Text

FORMER PREACHER IS BANK OF FRANKLIN HELD AT STATESVILLE WILL REOPEN TODAY W. M. Branch, of Mount Airy, Arrested Charge Forgery. Was Holiness Minister Special Daily Branch Mount holiness was held the police tion this afternoon charge forgery Branch said passed was Davis company check signed drawn First bank of was learned from the Baltimore bank the check was party had and issued checks southern Folice here found same type Branch's Branch about 40 of age and have near Mount understood not work New Officers and Board of Di. rectors Named. Bank Suspended Business Dec. 16. Franklin April Bank business during the western last December will reopen for business was funds start off Franklin from morning Albert repreNorth Carolina ink department and board stockholders the The officers and diM D Rogers first Dr board tors chosen and assistant last The apital the

8. April 30, 1931 Brooklyn Eagle Brooklyn, NY

Article Text

Standard Brands Net 30c a Share Standard Brands, Inc., and subsidiaries in the quarter ended March 31 had net income of $4,054,588 after expenses, minority interest and Federal taxes, but before profits and loss items, equal, after dividends on 7 percent preferred, to 30 cents share on 12,644,002 shares common against $3,496,226 or 25 cents share on 12,633,170 shares in the first quarter of 1930 The above earnings include operations of German and South African subsidiaries of Royal Baking Powder Company for the three months ended Jan. 31, 1931, and English subsidiaries for two months ended Feb. 28, 1931. and three months ended March 31, 1930. After payment of preferred and common dividends there was surplus for the quarter of $2,749 before profit and loss credits and charges, against deficit of $1 491 930 in the first quarter of the previous year. N. C. BANK REOPENS The Bank of Franklin, N. C., small State bank which suspended operations last Dec. 16, reopened for business today

9. May 1, 1931 Brooklyn Eagle Brooklyn, NY

Article Text

N. C. BANK REOPENS The Bank of Franklin, N. C., a small State bank which suspended operations last Dec. 16, reopened for business today

10. May 1, 1931 Brooklyn Eagle Brooklyn, NY

Article Text

Indian Strife Hurts French Continued from Page gentlemen wanted something shiny reasonably but wanted It as cheaply as they could get it. Competition Came Competition came in the military and semi-military trade. Germans found false that shone was reasonably durable and much cheaper. They made it by machinery, Nuremberg became the great competitor against the Lyons gold thread of quality Still the Lyons people did not worry Did they not have the monopoly of the India trade. where quality alone counted and where competition totally unknown, where the demand was so constant that the thread could be made almost on a cost-plus basis and sold as long as marriage remained Hindu institution? Now that is gone. The ancient wooden drawing benches, precisely like those of the middle ages exhibited in the Cluny Museum, are gathering dust. And the wiredrawers and their families are growing thin. Trouble in India. hunger in Lyons. N. C. BANK REOPENS The Bank of Franklin. N. C., small State bank which suspended operations last Dec. 16, reopened for business today

11. March 24, 1933 The Asheville Times Asheville, NC

Article Text

Franklin Bank Reopens To Pay Off Depositors FRANKLIN, March 24. (Special) The Bank of Franklin opened Wednesday morning for the purpose of paying off any who had placed in the bank during the past two years. About two years ago the Bank of Franklin closed. but later opened as new institution. which had the power to take money on deposit without the right to loan the money. By the action Wednesday the bank is offering all depositors the last two years their money. This money has been handled without the paying of any interest. The old bank lacked about $38,000 of paying off all old claims. At this time plans are being worked out to enable the old bank to reopen. MRS. NICHOLAS ROOSEVELT DIES YORK. March Mrs. Nicholas Roosevelt. mother of Henry Latrobe Roosevelt, assistant of navy, died here today at the home her daughter. Mrs. Arthur Hoff. 68 East 86th Street. istrators paid the Central Bank and Trust company the sum of alleged to be payment in full for Wesleyan Home "On March 1931, the administrators paid to Pansy Ray the sum of $10,000 in full for her claim against estate and on April 17, F. Watson was paid 8350 for attorney's fees in the Ray case." More than 50 disbursements. are listed in the complaint. Many them are payments made to Mr. Weaver and Mrs. Byrd. Mr. Byrd, prominent Asheville financier and organizer of the Federal Mortgage company and other real estate here, was killed in 1929, when the can which he was riding crashed post on Highway No. 10 near Statesville.