Bank of Aulander (Aulander, NC)

Episode Information

Episode UID
66030371572
Episode Type
Run โ†’ Suspension โ†’ Closure
Bank Type
state
Bank ID
6603037 routing
Routing Number
66-0303
Start Date
December 12, 1930
Location
Aulander, North Carolina (36.230, -77.114)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
cb32160c3ad0cbdc

Response Measures

None

Description

The bank experienced a 'slow but steady run' triggered by failures in a neighboring county and a specific groundless rumor that it had already failed.

Events (2)
1. December 12, 1930 Run
Cause
Rumor Or Misinformation
Cause Details
A groundless report circulated on Friday, December 12, that the bank had failed, which accelerated existing withdrawals caused by nearby bank failures.
Random Run
Yes
Random Run Snippet
groundless report circulated last Friday that the institution failed; accentuated withdrawals
Newspaper Excerpt
following slow but steady run on it by depositors whose fears had been aroused by recent bank crashes in Pitt County. A groundless report circulated last Friday that the institution failed accenuated the withdrawals
Source
newspapers
2. December 16, 1930 Suspension
Cause
Rumor Or Misinformation
Cause Details
The bank was unable to meet cash demands following a run triggered by rumors and local bank distress.
Newspaper Excerpt
the Bank of Aulander failed to open its doors Tuesday morning following slow but steady run on it
Source
newspapers

Newspaper Articles (10)
1. December 16, 1930 Hickory Daily Record Hickory, NC
Article from Hickory Daily Record, December 16, 1930

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Article Text

ELEVEN BANKS CLOSE RALEIGH, Dec. Eleven banks in North Carolina closed their doors today. Four banks in Gaston four Asheville area Western North Carolina. one Cleveland one county and one Bertie county shut their doors. The First National Bank of Gastonia was the largest the The Peoples Bank of Waco in Cleveland with capital of $111,shut its doors. The ClayBanking Company of Clayton. capitalized with resources did not The Bank Aulander Bertie with capital and also did not open. BANK OF CLOVER CLOSES Dec. The Bank Clover, York counclosed its doors today. Robinson, president of the First National Bank of Gastonia, failed to open this morning. also president of the Clover BUNCOMBE BANK CLOSES Dec. Swannanoa Bank and Trust Company oa, in Buncombe failed open doors this the board of directors taking this precautionary measure to protect the bank's assets. In its statement of tion, Swannanoa Bank and Trust Company reported deposliability of with tal stock and surplus and profits amounting $9,040. FRANKLIN BANK SHUT Bank Franklin closed morning leaving the town Franklin, Macon counwithout financial action taken the board of directors protect the deposiface threatened withdrawals today. The Citizens bank, during the financial with the Bank Franklin. BANK FAILS Dec. Bank Clyde, Clyde this morning by order of its board of directors, explained the tion taken "protect the positors. The bank heavy withdrawals yesterday. FLETCHER BANK CLOSES FLETCHER, Dec. Bank Fletcher, Henderson county, o'clock this in face heavy attributed the caused the closing other banks this closed deposit liability cording to the last statement. has surplus undivided profits $21,500. and Rhodes, cashier of the bank.

2. December 16, 1930 The Herald Rock Hill, SC
Article from The Herald, December 16, 1930

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Article Text

The Peoples Bank of Waco, in Cleveland county. N. C., with a capital of $5,000 and resources of $111,338.26. shut its doors today The Clayton Banking Co., of Clayton, capitalized at $75,000 and with resources of $393,731.36 did not open. Clayton is in Johnston county The bank of Aulander, in Bertie county, with capital of $80,125 and resources of $385,896.95, also did not open. Bank Of Clover Fails To Open (By Herald Correspondent) York, Dec. 16.-The Bank of Clover, capitalized at $30,000 and with assets totaling $552,848. according to its last statement of condition, failed to open its doors this morning. A notice posted on the door stated this step was tak en for protection of depositors. The closing of the Bank of Clover followed the failure of the First National Bank of Gastonia, N. C., both institutions having the same president, J. Lee Robinson. Persons in a position to know what they are talking about expressed the opinion that the Bank of Clover is solvent and that its closing would be only temporary S. A Sifford. of Clover, is vice president and A. M. Suggs is cashier. Deposits, according to the state-

3. 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

4. December 16, 1930 The Atlanta Journal Atlanta, GA
Article from The Atlanta Journal, December 16, 1930

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Article Text

11 Banks in Carolina Fail to Open Doors CHARLOTTE N. Dec. 16 -(AP) North Carolina closed doors Tuesday Four banks in Gaston County, four the Asheville area of western North Carolina, in County, in Jornston County and Bertie County shut their Also bank at Clover, S. C., failed The First Bank of Gaswas largest of the with deposits of $3,066,072. on September The Peoples Bank of Waco, in Cleveland County capital of and resources of $111,338.26 doors. Clayton Banking Company, of $75,000 and with resources of $393,731.36. did not open. The Bank of Aulander, in Bertie County. with capital of and resources of also did not open. other three Gaston banks, the Gaston Loan Trust Company, of Gastonia the Bank of Dallas and the Peoples of Gastonia were comparat institutions. The combined $270,052.84 Closing of the Bank Franklin, in County, that without financial The bank's deposits Citizens listed at $416,800. The Bank which merged with the Franklin $125,000. last month. had deposits of The Bank of Swannanoa, with deposits of and the Bank of Clyde, with deposits $105,000. Monday failed to open after withsfanding runs Bank of Fletcher in Henderson in of heavy withdrawals after remaining open an listed hour and half. Its deposits at Bank Clover York County resources about to open Trust Companies NEW the market. Asked Express Comm Ital 255 Banca Sivilia Bank Europe Tr 570 Broadway Plaza Brooklyn Hanover Clinton Bk Tr Exchange County Guaranty Hibernia Inter Madison Trust is County Title Guar Manufacturers Midwood Mutual West Times Square 125 of Nr Am 2800 Westchester Title Tr Westchester

5. December 17, 1930 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, December 17, 1930

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Article Text

ELEVEN BANKS SUSPEND. North Carolina Institutions In Five Charlotte, N. C., December 16banks in North Carolina closed their doors today. Four banks in Gaston County, four in the Asheville area of Western North Carolina, one in Cleveland County, one in Johnston County and one in Bertie County shut their doors. The First National Bank of Gastonia was the largest of the 11, with deposits of $3,066,072 on September 24. The Peoples Bank of Waco in Cleveland County, with capital of $5,000 and resources of $111,338.26 shut its doors. The Clayton Banking Company of Clayton, capitalized at $75,000 and with resources of $393,731.36, did not open. The Bank of Auhlander, in Bertie County, with capital of $80,125 and resources of $385,896.95, also did not open. The other three Gaston banks, the Gaston Loan and Trust Company, of Gastonia, the Bank of Dallas, and the Peoples Bank of West Gastonia were comparatively small institutions. The combined deposits totaled $270,502.84. Closing of the Bank of Franklin, in Macon County, left that town without a financial institution. The bank's deposits were listed at $416,800. The Citizens Bank, which merged with the Franklin last month, had deposof $125,000. The Bank of Swannanoa with deposits of $182,000 and the Bank of Clyde, with deposits of $105,000 failed to open after withstanding runs yesterday. The Bank of Fletcher, in Henderson County, closed in the face of heavy withdrawals after remaining open an hour and a half. Its deposits were listed at $103,500.

6. December 17, 1930 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, December 17, 1930

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Article Text

ELEVEN BANKS SUSPEND. "North Carolina Institutions In Five Areas Are Closed. Charlotte, N. C., December 16-(AP)-Eleven banks in North Carolina closed their doors today. Four banks in Gaston County, four in the Asheville area of Western North Carolina, one in Cleveland County, one in Johnston County and one in Bertie County shut their doors. The First National Bank of Gastonia was the largest of the 11, with deposits of $3,066,072 on September 24. The Peoples Bank of Waco in Cleveland County, with capital of $5,000 and resources of $111,338.26 shut its doors. The Clayton Banking Company of Clayton, capitalized at $75,000 and with resources of $393,731.36, did not open. The Bank of Auhlander. in Bertie County, with capital of $80,125 and resources of $385,896.95, also did not open. The other three Gaston banks, the Gaston Loan and Trust Company, of Gastonia, the Bank of Dallas, and the Peoples Bank of West Gastonia were comparatively small institutions. The combined deposits totaled $270,502.84. Closing of the Bank of Franklin, in Macon County, that town withfinancial institution. The bank's deposits were listed at $416,800. The Citizens Bank, which merged with the Franklin last month, had deposits of $125,000. The Bank of Swannanoa with deposits of $182,000 and the Bank of Clyde, with deposits of $105,000 failed to open after withstanding runs yesterday. The Bank of Fletcher, in Henderson County, closed in the face of heavy withdrawals after remaining open an hour and half. Its deposits were listed at $103,500.

7. December 17, 1930 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, December 17, 1930

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Article Text

ELEVEN BANKS SUSPEND. North Carolina Institutions In Five Areas Are Closed. Charlotte, N. C., December 16banks in North Carolina closed their doors today. Four banks in Gaston County, four in the Asheville area of Western North Carolina, one in Cleveland County, one in Johnston County and one in Bertie County shut their doors. The First National Bank of Gastonia was the largest of the 11, with deposits of $3,066,072 on September 24. The Peoples Bank of Waco in Cleveland County, with a capital of of $111,338.26 $5,000 and resources shut its doors The Clayton Banking Company of Clayton, capitalized at $75,000 and with resources of $393,731.36, did not open. The Bank of Auhlander, in Bertie County, with capital of $80,125 and resources of $385,896.95, also did not open. The other three Gaston banks, the Gaston Loan and Trust Company, of Gastonia, the Bank of Dallas, and the Peoples Bank of West Gastonia were comparatively small institutions. The combined deposits totaled $270,502.84. Closing of the Bank of Franklin, in Macon County, that town without financial institution. The bank's deposits were listed at $416,800. The Citizens Bank, which merged with the Franklin last month, had deposof $125,000. The Bank of Swannanoa with deposits of $182,000 and the Bank of Clyde, with deposits of $105,000 failed to open after withstanding runs yesterday. The Bank of Fletcher, in Henderson County, closed in the face of heavy withdra wals after remaining open an hour and half. Its deposits were listed at $103,500.

8. December 17, 1930 Tampa Bay Times St. Petersburg, FL
Article from Tampa Bay Times, December 17, 1930

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Article Text

11 BANKS CLOSE THEIR DOORS IN NORTH CAROLINA Four in Gaston County and Like Number in Asheville Area CHARLOTTE N.C., Dec. 16.(P)-Eleven banks in North Carolina closed today. Four banks in Gaston county, four in the Asheville area of western North Carolina, one in Cleveland county, one in Johnston county. and one in Bertie county shut their doors. The First National bank of Gastonia was the largest of the 11. with deposits of $3,066,072.11 on Sept. 24. The Peoples Bank of Waco, in Cleveland county, with capital of $5,000 and resources of $11,338.26, shut its doors. The Clayton Banking company. of Clayton. capitalized at $75,000 and with resources of $393,731.36 did not open. The Bank of Aulander, in Bertie county, with capital of $80.125 and resources of $385,896.95. also did not open. The other three Gaston banks, the Gaston Loan & Trust company. of Gastonia, the Bank of Dallas, and the Peoples Bank of West Gastonia, were comparatively small institutions. The combined deposits totaled $270,052.84. Closing of the Bank of Franklin. in Macon county, left that town without financial institution. The bank's deposits were listed at $416.800. The Citizens bank, which merged with the Franklin last month, had deposits of $125,000. The Bank of Swannanoa, with deposits of $182,000, and the Bank of Clyde, with deposits of $105,000. failed to open after withstanding runs yesterday. The Bank of Fletcher, in Henderson county, closed in the face of heavy withdrawals after remaining open an hour and half. Its deposits were listed at $103,500. WEST VIRGINIA BANK CLOSED CHARLESTON, W. Va., Dec. 16.(P)-The state department of banking today announced the closing of the Bank of Hillsboro, in Pocahontas county. An announcement said that negotiations for taking over the institution were being made by the Bank of Marlington. The Bank of Hillsboro on Sept. 24 had capital stock of $25,000. Its resources were $205,748.72, and its deposits totaled $127,746. PARENTS GIVEN CHILDREN NEW YORK, Dec. 16.-(.P)-Mr. and Mrs. Pietro Ricci may keep custody of their young sons, Ruggiero and Giorgio, violin prodigies, Supreme Court Justice Vallente ruled today.

9. December 17, 1930 St. Louis Globe-Democrat St. Louis, MO
Article from St. Louis Globe-Democrat, December 17, 1930

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11 NORTH CAROLINA BANKS FAIL TO OPEN Gastonia First National, with $3,066,072 Deposits, Is Largest. By Associated Press. CHARLOTTE, N. C., December 16. -Eleven in North Carolina closed their doors today. Four banks in Gaston County, four in the Asheville area of Western North Carolina, one in Cleveland County, one in Johnston County and in Bertie County closed. The First National Bank of Gasthe largest. with deposits of $3,066,072. The People's Bank of Waco had resources of $111,338.26. The Clayton Banking Company of Clayton, capitalized at $75,000. had resources of $393,731.36. The Bank of Aulander, with capital of and resources of $385,896.95, also did not open. By Associated Press. State Department of Banking today the closing of the Bank of Hillsboro, in Pocahontas County The announcement said the bank was closed on Friday "to conserve assets.' and that negotiations for taking over the institution were being made by the Bank of Marlinton. By Associated. FAIRMONT W. VA., December 16. -The Union National Bank of Fairmont closed its doors shortly before noon today Inability to liquidate assets rapidly enough to meet demands for given as the cause for the closing. Dells Made in Saline. MO., December 16.Big, little, fat and dolls, tall, short, old and young dolls, and boy and girl and papa and mama dolls. about 500 of them, have been made this summer by the Women's Extension clubs Saline County, and will be shipped at once to various and institutions in Missouri. The dolls are to be given the children for Christmas presents.

10. December 18, 1930 The Herald Ahoskie, NC
Article from The Herald, December 18, 1930

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SLOW BUT STEADY CLOSES BANK AULANDER TUES'Y It Was in Better Shapฤ™ Than in Two Years But Could Not Pay Out the Cash UNFOUNDED RUMORS BRING ON CLOSING Large Cash Reserves Maintained by Other Banks for Any Eventuality Aulander, Dec. its affairs in better shape than at time in any two years, the Bank of Aulander failed to open its doors Tuesday morning following slow but steady run on it by depositors whose fears had been aroused by recent bank crashes in Pitt County. A groundless report circulated last Friday that the institution failed accenuated the withdrawals that has left Bertie's second largest community without bank and a closed capitalized bank. The bank had deposits of proximately $165,000 at the close of business. It is capitalized $80,000. It has loans and discounts of approximately $335,000, most which is represented by first gages on local real estate, according to W. Tayloe, president of the bank and leading Aulander business man. The bank owed approximately $100,000 at the time of closAccording to Mr. Tayloe, who (Continued on Page 10)