Clayton Banking Company (Clayton, NC)

Episode Information

Episode UID
66032971572
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
6603297 routing
Routing Number
66-0329
Start Date
December 16, 1930
Location
Clayton, North Carolina (35.651, -78.456)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
5f153c9ccf995688

Response Measures

None

Events (1)
1. December 16, 1930 Suspension
Cause
Macro News
Cause Details
The bank failed to open amidst a wave of bank failures across North Carolina, likely linked to the broader regional financial distress following the Central Bank and Trust failure in Asheville.
Newspaper Excerpt
The Clayton Banking Company, Clayton, capitalized $75,000 and with resources did not open.
Source
newspapers

Newspaper Articles (10)
1. December 16, 1930 The Evening Sun Baltimore, MD
Article from The Evening Sun, December 16, 1930

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Article Text

WEST FAILURES North Carolina Hardest Hit, With Eleven Institutions Closing Doors Charlotte, banks in North Carolina closed their doors today. Four banks in Gaston county, four the Asheville area of western North Carolina, one in Cleveland Johnston county and one in Bertie county shut their doors. The First National Bank Gastonia the largest of the eleven with posits of $3,066,072.11 September 24. Waco Bank Shuts Doors The Peoples Bank Waco, Cleveland county, with capital and resources of shut its doors. The Clayton Banking Company, Clayton, capitalized $75,000 and with resources did The Bank of Aulander, in Bertie county, with capital of and sources of also did open. The other three Gaston banks, the Gaston Loan and Trust Company, the Bank of Dallas the Peoples Bank of West Gastonia, small The deposits totaled $270,052.84 Closing of the bank of Franklin, Macon county, left that town without financial institution. The bank's its were listed $416,800. The CitiBank, which merged with the Franklin last month, had deposits $125,000. The bank of Swannanoa, with posits of $182,000 and the bank with deposits failed open runs yesterThe bank of Fletcher, in Henderson county, closed the face of heavy after open hour and half. Its deposits listed South Carolina Bank Closed York, Dec. Bank Clover, York county, closed Lee Robinson, president of the First National Bank Gastonia, which failed open this morning, also president of the Clover instituThe bank had resources of about $650,000. Closure In Salt Lake City Salt Lake City, Dec. The Columbia Trust Company of this city placed the hands of the State Banking Department today. Frank B. Cook, president of the institution. said the board of quested the closing order to protect bank not insolvent, twenty the business Monday, and the opinion the board that every depositor will paid Cook said. posits assets West Virginia Bank Closed The State Department of announced closing of the Bank Hillsboro, Pocahontas county. The said the bank Friday and that for taking institution were being made Bank of Marlinton. The Bank of Hillsboro 24 had capital stock resources and deposits totaled $127,746.

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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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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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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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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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 17, 1930 The News and Observer Raleigh, NC
Article from The News and Observer, December 17, 1930

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Five Banks Close in Gastonia Clayton Banking Co. Closes Doors of the Central Band Asheville were felt yesterfailure failure of banks North five them four Gaston Asheville Cleveland and Eastern the State the banks Gaston Closing the National Bank Gastonia First Monday night. president large the Gastonia bank, president American National Ashewhich crasbed day after the Central went down. Steady withdraw aggregating $800,000 about the closing, officers brought announced. Gastonia National Bank the largest to close deposits $2,400,000 and capital $500,000 surplus undivided profits $400,000. date last statement the bank owed The failure the Citizens money. National the only bank Gas Other banks suspending yesterday last call. September follows: Clayton Banking Co., Johnston County. The bills payable $105,000. Bank Bertie Capital and $157,230. had posits, Tayloe Bank of Yancey, Yancey Capital plus. deposits, bank payable. Bank Trust Bun county. $236,063 deposits, The nad bills. W. Harrison Bank Franklin Macon county. Capital and $112,000; posits, had bills $40,000. Lee president. Bank Fletcher. Henderson coun Capital $22,000; bank payable. H. Sumner president. Bank Clyde. county Capital $25,000; posits, $95,516. The bank had $10,000 bills payable. Edwin Fincher Gaston Loan Trust Capital bank $10,000 Woltz president. Peoples Gastonia Capital sources, $92. bank had bills payable. Gaston county Capital loans bank bills payable of $50,000. was president. Peoples Bank, Waco, Cleveland county. loans. deposits The had payable $8,000. W. Black was president. The State of North Carolina $22,000 deposit First Na on tional astonia, deposit Bank naklin, $5,000 the Clayton Banking Co., $11, French Broad Bank Marshall which closed Monday. All deposits were fully protected by bonds. GASTONIA RISE SUPPORT OF Dec. last night the closing of the First National Bank Loan Trust Company. the Bank the Bank of leading leading Citizens National Bank the bank rose unit fortify from further financial disaster. That mass meeting, Inspiring today served and the izenship Gastonia calm orderly nicipal Judge and citizens address the meeting Monday night restored confidence today showed itself face the No Run Citizens. There Citizens Bank small called for their there crowd about the lobby the bank and day appear any ordinary busipresident stated this deposits today had outnumbered margin. De positors during the There evidence panicky feeling. the general quietude Citizens Bank itself any depositors might wish their monies.