gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
bbdad7276686b7f7
Response Measures
None
Description
Bank held out during an April 21, 1931 run but subsequently failed to open and entered liquidation (dividends paid in 1932).
Events (3)
1.April 21, 1931Run
Cause
Local Banks
Cause Details
Run began after the National Bank of Kinston failed to open and the First National Bank closed, provoking depositors to withdraw from Farmers & Merchants.
Measures
Bank met all demands and augmented cash reserves; community used brass band and pleas to discourage withdrawals.
Newspaper Excerpt
False alarms and soap box oratory were resorted to today in an effort to halt a run on Kinston's one remaining bank...The bank was meeting all demands this afternoon.
Source
newspapers
2.April 21, 1931Suspension
Cause
Local Banks
Cause Details
Directors ordered the bank closed / failed to open following heavy runs and the collapse/closure of the town's other two banks.
Newspaper Excerpt
North Carolina bank fails to open...notice posted at the entrance said the bank had been closed by the directors 'for the protection [of] depositors.'
Source
newspapers
3.December 22, 1932Receivership
Newspaper Excerpt
Depositors in the Farmers and Merchants Bank here which closed in April, 1931, are receiving dividend checks totaling $18,689...mailed by ...in charge of the liquidation.
Source
newspapers
Newspaper Articles (14)
1.April 21, 1931The Crowley Post-SignalCrowley, LA
Article Text
Unusual Methods Are Used To Stop Run On North Carolina Bank
By The Associated Press. Kinston, N. C., April 21.-False alarms and soap box oratory were resorted to today in an effort to halt a, run on Kinston's one remaining bank after two others had closed. The false fire alarms, rung in hopes they would distract a crowd of depositors gathered at the Farmers and Merchants Bank, failed to draw the crowd's interest, neither did the distant playing of a brass band which was brought into action. Chamber of commerce representatives pleaded from soap boxes for the depositors to leave their money with the bank. The bank was meeting all demands this afternoon.
CAROLINA BANKS CLOSED
Kinston, N. C., April 21.—(UP)-The National Bank of Kinston failed open for business today. after the opening hour the First bank against heavy run of depositors, The third local bank, the Farmers and Merchants, remained open despite the run. Its officials excellent financial condition. notice posted on the door of the National of Kinston said its rectors had closed the institution to frozen inability to collect. Officials of the First National bank ordered it closed destating it was in safe and sound condition.
3.April 21, 1931The JournalMeriden, CT
Article Text
False Fire Alarms, Soap Box Oratory Fail To Halt Run On North Carolina Bank
Kingston, April (AP) fire alarms oratory to today in one had closed. The false in hopes would distract gathered Farmers Merchants bank, failed the crowd's interest. Neither did the distant playing brass which was brought into action. Chamber Commerce representatives pleaded from for the depositors to leave money with the bank. The bank meeting all dethis afternoon. The the National Bank Kinston failed open this and an hour the First National Bank closed.
4.April 21, 1931Okmulgee Daily DemocratOkmulgee, OK
Article Text
FIRE ALARMS, BANDS USED TO HALT RUN ON CAROLINA BANK
KINGSTON, N. C., April 21. (/P) False fire alarms soap box tory were resorted to today in an effort to halt run on Kingston's one remaining bank after two others had closed. The false fire alarms, run in hopes they would distract crowd of depositors gathered at the Farmers and Merchants bank, failed to draw the crowd's interest. Neither did the distant playing of brass band which brought into acChamber of commerce representatives pleaded soap boxes for the depositors leave their with the bank. The bank meeting dethis afternoon. The run began the National Bank Kingston failed to open this morning and an hour later the First National bank closed.
5.April 21, 1931Evening ExpressPortland, ME
Article Text
False Fire Alarms And Box Oratory Fails To Stop Run
Kinston, N. C., Bank Meets All Demands After Two Others Close
KINSTON, N. C., April 21 (A. False fire alarms and soap box oratory were resorted to today in an effort to halt run on Kinstons' one remaining bank after two others had closed. The false fire alarms. rung in hopes they would distract crowd of depositors thered at the Farmers and Merchants Bank. failed to draw the crowd's Neither did the distant playing brass band which was brought into Chamber of Commerce representatives pleaded from soap boxes for the is depositors to leave their money with the bank The bank was meeting all demands this afternoon. The when the National Bank of Kinston failed to open this morning and an hour later the First National Bank closed.
6.April 22, 1931The Salisbury PostSalisbury, NC
Article Text
Kinston Bank Holds Out Against
Kinston, April Directors the First National bank here. which closed yesterday when fired faced run after the National flee Bank Kinston suspended, who considering mobile and no escaped. nouncement was expected for day so least. The Farmers and Merchants bank. remaining financial beaten. stitution. appeared definitely weathered storm which about it following yesterclosings. remained open throughout augmented cash reserve night peared be doing normal busitoday. The National Bank of Kinston ordered closed by the national bank examiner because of "frozen count
7.April 22, 1931The Oshkosh NorthwesternOshkosh, WI
Article Text
RUSES FAIL TO HALT THE RUN ON THE BANK
Kinston, N. C.-(P)-False fire alarms and soap box oratory were resorted to Tuesday in an effort to halt a run on Kingston's one re maining bank after two others had The false fire alarms. run hopes they would distract a crowd depositors gathered at the Farmers and Merchants bank failed to draw the Neither did the distant playing of . brass band which was brought Chamber of commerce representatives pleaded from soap boxes for
8.April 22, 1931The Los Angeles TimesLos Angeles, CA
Article Text
FIRE GONGS FAIL TO END RUN ON BANK
Soap Box Oratory Proves Futile Also After Two of Town's Institutions Close
KINGSTON (N. C.) April 21. (AP) False fire alarms and soap-box oratory were resorted to today in an effort to halt run on Kingston's one remaining bank after two others closed. The false fire alarms, rung hopes they would distract crowd depositors gathered the Farmers' and Merchants' Bank failed draw the crowd's interest. Neither did the distant playing of brass band. Chamber of Commerce representatives pleaded from soap boxes for the depositors to leave their money the bank. The bank met all demands The run began when the National Bank of Kingston failed today and an hour later the First National Bank closed.
FRANTIC EFFORTS FAIL TO CHECK RUN ON BANK
KINSTON, N. C., April 21 fire and today effort to halt run Kinston's remaining bank after others had closed. false fire alarms, rung in hopes they would distract crowd depositors gathered the Farmers and Merchants failed draw interest. did playing brass band, which was brought action. of commerce representatives pleaded from for the depositors to leave their money with the bank meeting all demands this run began when the National Bank Kinston failed morning later the First National bank closed.
FALSE ALARMS FAIL TO HALT RUN ON BANK
KINSTON, N. C., April 21 fire alarms and soap box oratory resorted to today in an effort to halt run on Kinston's one remaining bank after two others had closed. The false fire alarms, rung in hopes they would distract crowd of depositors gathered the Farmers and Merchants Bank, failed to draw the crowd's interest. Neither did the distant playing of a brass band which was brought into action. Chamber of Commerce representatives pleaded from soap boxes for the depositors to leave their money with the bank. The run began when the National Bank of Kinston failed to open morning and an hour later the First National Bank closed.
11.April 23, 1931Statesville Record and LandmarkStatesville, NC
Article Text
Kinston Has Its Bank Troubles
One Bank Ordered Closed. Another Wrecked By Third to Remain Open by Use of Brass Band, Soap Orators and False Fire Alarms.
Kinston, April banks closed here today and officers of the only one turned to drastic to save in the face which brass band, soap orators and false fire alarms failed The National Bank, of Kinston, was ordered today by the open minutes after the First National Bank. facing heavy runs, posted note was closing similar run was in progress the Farmers and Merchants Bank, which, however, was still withstanding the inroads of withdrawals at Deposits in the closed banks totaled more than $2,000,000.
12.April 30, 1931The Berkshire EaglePittsfield, MA
Article Text
LATE NEWS BRIEFS
200 EMPLOYEES REPORTED KILLED OR INJURED RIO DE JANEIRO. hundred employees the naval laboratory at Nichtheroy killed injured today when an explosion wrecked the plant. The plant employed 400.
NORTH CAROLINA BANK FAILS TO OPEN C.-Kinston, town population, was left without banking facilities today when the Farmers and Merchants' bank failed open. notice posted at the entrance said the bank had been closed by the directors the protection depositors." short time ago the city's other two banks closed their doors.
5000 WORKERS ON STRIKE; OTHERS MAY FOLLOW COVENTRY, thousand workers went strike today protest against reduction by Courtauld's, Ltd., two pence an hour in the wages of spinners. Workers in other factories were reported to be planning The manageannounced that the wage cut had been under for about two years become necessary in order to meet foreign competition in artificial silk and yarns.
HUNDREDS DYING OF THIRST AND of shepherd tribesmen and their flocks are reported dying of thirst and starvation in the deserts Southern Syria Central Arabia winter drought killed off vegetation and dried up wells.
MAYOR WALKER TO STOP NEWSPAPER NEW Walker has decided that "racketeering" must cease. He ordered the department and the license yesterday revoke licenses any news dealer and to remove from the streets charging more than the regular The move made at the demand of newspaper ers charged that early editions being sold at greatly increased price in "the biggest news dealer racket in the nation."
OPERATION NECESSARY TO SAVE KING'S SIGHT William Holland Wilmer, noted specialist, day told the King of Siam that an the cataract his eye was "absolutely necessary" to save the sight of that optic,
13.September 27, 1932The Virginian-PilotNorfolk, VA
Article Text
Louis Carner, Acute Appendicitis Victim, Brought Here In Plane
Reports Louis Carner former Maury athlete and now dent and of the aviation William and Mary had crashed plane yesterday resolved itself last night into the formation that stricken with an acute of Norfolk college plane and operated on here Last night the young man resting comfortably. The to Norfolk was 28 minutes and the speed saved Carner's Carner well known football player Maury
DEPOSITORS EXPECT DIVIDEND Kinston Sept. Depositors in the Farmers Merchants Bank here closed ago, dividend payment this fall been but "nominal payment planned fall collections The bank suspended April, 1931 State
14.December 22, 1932The News and ObserverRaleigh, NC
Article Text
DEPOSITORS RECEIVE circles of the W. U. on Tues FIVE C. DIVIDEND
Kinston, Dec. 21.-Depositors in terday. the Farmers and Merchants Bank, State institution here which closed in April, 1931, are receiving dividend checks totaling $18,689. It is the first payment, and is for 5 per cent. The checks were mailed last evening by Ronald E. Mewborn, Lindsay. in charge of the liquidation.
Killed in Crash. Mrs. George Hopkins of Oyster Point, were killed in grade eight miles west of here press for its early consideration,
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.