Bank of Fletcher (Fletcher, NC)

Episode Information

Episode UID
66055671572
Episode Type
Run → Suspension → Closure
Bank Type
state
Bank ID
6605567 routing
Routing Number
66-0556
Start Date
December 16, 1930
Location
Fletcher, North Carolina (35.433, -82.507)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
71af7090cc817bf0

Response Measures

None

Description

Initial December 1930 heavy withdrawals forced closing; by March 1933 institution is in receivership/liquidation.

Events (3)
1. December 16, 1930 Run
Cause
Local Banks
Cause Details
Heavy withdrawals tied to regional bank closings/contagion among North Carolina banks; bank could not meet rapid demands.
Measures
Remained open about an hour and a half attempting to meet withdrawals, then closed.
Newspaper Excerpt
The Bank of Fletcher, in Henderson county, closed in the face of heavy withdrawals after remaining open an hour and a half.
Source
newspapers
2. December 16, 1930 Suspension
Cause
Local Banks
Cause Details
Directors closed the bank as a precautionary measure due to heavy withdrawals and regional banking disturbances.
Newspaper Excerpt
closed in the face of heavy withdrawals after remaining open an hour and a half.
Source
newspapers
3. March 18, 1933 Receivership
Newspaper Excerpt
the Bank of Fletcher are being liquidated at losses to creditors ... report of Gurney P. Hood, state commissioner of banks and statutory receiver of the three institutions, which has been made to Judge P. A. McElroy and approved by the court.
Source
newspapers

Newspaper Articles (20)
1. December 16, 1930 Hickory Daily Record Hickory, NC
Article from Hickory Daily Record, December 16, 1930

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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 Commercial Bangor, ME
Article from Commercial, December 16, 1930

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Eight Banks Now Closed In North Carolina Heavy Withdrawals Given By Directors as Reason For Action Charlotte, N. C., 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 explained the action was taken as a precautionary measure for the protection of depositors. "Heavy withdrawals" was given as the reason in practically every case. The First National bank of Gastonia, the largest of the eight, had deposits of $3,006,072.11. Resources were given at $4,656,067.68. The other three Gaston banks, the Gaston Loan and Trust Company, of Gastonia, the Bank of Dallas and the People's 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 a 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 a half. Its deposits were listed at $103,500. Salt Lake City, Utah, Dec. 16.—(AP)—The Columbia Trust Company of this city was placed in the hands of the state banking department today. Frank B. Cook, president of the institution, said the board of directors requested the closing "in order to protect all depositors without preference." "The bank is not insolvent, having 20 per cent. reserve at the close of business Monday, and it is the opinion of the board that every depositor will be paid in full," Cook said. "Total deposits are $718,544.24. Total assets are $1,175,590.98."

3. December 16, 1930 Grand Haven Tribune Grand Haven, MI
Article from Grand Haven Tribune, December 16, 1930

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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

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

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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

5. December 16, 1930 The Evening Sun Baltimore, MD
Article from The Evening Sun, December 16, 1930

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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.

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

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EIGHT SOUTHERN BANKS CLOSED Heavy Withdrawals Given as Chief Reason CHARLOTTE, N C, Dec 16 (A. P.)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 explained the action was taken as precautionary measure for the protection of depositors. "Heavy withdrawals' was given as the reason in practically every case. The First National Bank of Gastonia, the the eight, had deposits of $3,066,072. Resources were given as 4.656,067. The other three Gason County banks, the Gaston Loan and Trust Company of Gastonia, the Bank of Dallas and the People's Bank of West Gastonia, were comparatively small institutions. The combined deposits totaled $270,052. Closing of the Bank of Franklin, in Macon left that town without, financial 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 with deposits of $182,000, and the Bank of Clyde, with deposits of $105,000, failed to open after withstanding runs yesThe Bank of Fletcher, in Henderson County, closed in the face of heavy withdrav after remaining open an hour and half. Its deposits were listed at $103,500.

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

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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

8. December 16, 1930 Warren Times Mirror Warren, PA
Article from Warren Times Mirror, December 16, 1930

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EIGHT CAROLINA BANKS SUSPEND Charlotte, N. C., 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 of 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. Resources were given at $4,656,067. The other three Gaston banks, the Gaston Loan and Trust Company, of Gastonia, the Bank of Dallas and the People's Bank of West Gastonia, were comparatively small institutions. The combined deposits totaled $270,052.84. Closing of the Bank of Franklin 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 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 closed in the face of heavy withdrawals. Its deposits were listed at $103,500.

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

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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.

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

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Mrs. Nancy McGill Is Laid To Rest (By Herald Correspondent) Sharon, Dec. 16.-Funeral services for Mrs. Nancy McGill were conducted in Sharon A. R. P. Church Saturday by her pastor, Rev. E. B. Hunter. assisted by Rev. R. M. Bell, of Hickory Grove, and Rev. O. W. Carmical, of Neely's Creek. Her favorite song, which she repeated just a short time before she passed away, was sung, "I'm Waiting, Waiting for combined deposits were $270,052.84. Closing of the Bank of Frank lin, in Macon county, left that town without a financial institution. The bank's deposits, in its last statement, were listed at $416,800. The Citizens Bank, which merged with the Franklin last night, had deposits of $125,000. The Bank of Swannanoa, in Buncombe county, with deposits of $182,000, and the Bank of Clyde, in Haywood county, with deposits of $105,000, failed to open after withstanding heavy 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 $103,000. the Lord." Pallbearers were G. W. Whitesides, J. A. Whitesides, of this place, Meek McGill, of Hickory Grove. H. M. Blair, of Blairsville, Blakely McGill, of Hickory Grove No. 2, and J. M. White, Jr. Flower bearers were Mrs. Belle McGill Roberts. of Blacksburg, Mrs. Blakley McGill. of Hickory Grove No. 2, and Miss Helen Sherer.

11. December 16, 1930 Omaha World-Herald Omaha, NE
Article from Omaha World-Herald, December 16, 1930

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Eight North Carolina Banks Close Doors Charlotte, N. C., Dec. 16 (AP).—Eight North Carolina banks 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 of 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. The other three Gaston banks, the Gaston Loan and Trust company of Gastonia, the Bank of Dallas and the People's Bank of West Gastonia, were small. The combined deposits totaled $270,052.84. Closing of the Bank of Franklin left that town without a financial institution. It had deposits of $416,800. The Citizens' bank, which merged with the Franklin last month, had deposits of 125 thousand dollars. The Bank of Swannanoa, with deposits of 185 thousand dollars, and the Bank of Clyde, with deposits of 105 thousand dollars, failed to open after withstanding runs yesterday. The Bank of Fletcher closed in the face of heavy withdrawals after remaining open an hour and a half. Its deposits were listed at $103,500. Three Small Banks Close. Asheville, N. C., Dec. 16 (AP).—Three banks in small western North Carolina towns failed to open today. The closing of the Bank of Franklin left that town without a financial institution. The bank had deposits of approximately $541,800. The Bank of Clyde, with deposits of 105 thousand dollars, 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.

12. December 16, 1930 Biddeford-Saco Journal Biddeford, ME
Article from Biddeford-Saco Journal, December 16, 1930

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8 SOUTHERN BANKS CLOSE THEIR DOORS Heavy Withdrawals Given as Cause by Directors. Charlotte, N. C., 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 explained the action was taken as a precautionary measure for the protection of depositors. "Heavy withdrawals" was given as the reason in practically every case. The First National Bank of Gastonia, the largest of the eight, had deposits of $3,066,072.11. Resources were given at $4,656,067.68. The other three Gaston banks, the Gaston Loan and Trust company, of Gastonia, the Bank of Dallas and the People's 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 a 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 one-half. Its deposits were listed at $103,500. York, S. C., Dec. 16.—(AP)—The Bank of Clover, York county, closed its doors today. J. Lee Robinson, president of the First National bank of Gastonia, which failed to open this morning, is also president of the Clover institution. Charleston, W. Va., Dec. 16.—(AP)—The state department of banking today announced the bank of Hillsboro, in Pocahontas county, was closed on Friday "to conserve assets." The bank on September 24 had capital stock of $25,000. Its resources were $205,748.72 and its deposits totaled $127,746. Salt Lake City, Utah, Dec. 16.—(AP)—The Columbia Trust company of this city was placed in the hands of the state banking department today. Frank B. Cook, president of the institution, said the board of directors requested the closing "in order to protect all depositors without preference." "The bank is not insolvent, having 20 per cent reserve at the close of business Monday, and it is the opinion of the board that every depositor will be paid in full," Cook said. "Total deposits are $718,544.24. Total assets are $1,175,590.98."

13. 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

14. 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.

15. 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.

16. 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 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.

17. December 17, 1930 Asheville Citizen-Times Asheville, NC
Article from Asheville Citizen-Times, December 17, 1930

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Fletcher Bank Closes To Conserve Assets (Special to The Citizen) HENDERSONVILLE Dec by withdrawthe Bank of Fletcher Fletcher closed this morning at o'clock. There no run on the bank but withdrawals were heavy on Monday and the bank was unable to liquidate assets fast enough to meet demands. The stock. and

18. 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.

19. December 17, 1930 The Atlanta Constitution Atlanta, GA
Article from The Atlanta Constitution, December 17, 1930

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Bond Dealings on New York Stock Exchange ELEVEN BANKS CLOSE IN NORTH CAROLINA High prices Stock Western CHARLOTTE, N. C., Dec. 16.Close. (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 100 county, one in Johnston county, and one in Bertie county shut their doors. FOREIGN BONDS. CORPORATION The First National Bank of GasManati tonia was the largest of the 11, with P&P Sales Close (in $1,000). High Sydney Hy Ujigawa Unterelbe Upper Venetian Vienna City Warsaw City Un Wurttemberg 831 6s 931 931 today ago January date same year same two years ago Danish trustee. du Pont Marseilles deposits of $3,066,072.11 on September 24. The Peoples Bank of Waco, in Cleveland county, with capital of $5,000 and resources of $11,388.26 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 Co., 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 a financial institution. The bank' 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 closed in the face of heavy withdrawals after remaining open hour and half. Its deposits were listed at $103,500. BIRMINGHAM DISTRICT BANKS EFFECT MERGER BIRMINGHAM, Ala., Dec. 16.merger of the Bank of Ala bama with the Ensley National Bank, making the combined assets over $1,000,000. was announced early today by Oscar Wells, chairman of the board the First National Bank of Birmingham. "With the co-operation and support of the Birmingham Trust & Savings Co. and the First National Bank of Birmingham, Mr. Wells statement said, "the assets will be taken over by the Ensley National Bank and the latter assume the liabilities of the Bank of Alabama. R. A. Terrell, 68. for many years president of the Bank of Alabama, died yesterday of wounds which Coroner D. Russum said were self State Superintendent of Banks Dent F. Green said that a recent report of

20. March 18, 1933 The Times-News Hendersonville, NC
Article from The Times-News, March 18, 1933

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3 Banks Being Liquidated At Loss, Is Report Hood Shows Condition Of Fifth Roosevelt State Institutions On Dec. 31, 1932 Gets Navy Post CREDITORS SUFFER IN SALE OF ASSETS The First Bank & Trust company, and the American Bank & Trust company of Hendersonville and the Bank of Fletcher are being liquidated at losses to creditors ranging up to $1,000 a month, according to an interpretation of figures contained in a report of Gurney P. Hood, state commissioner of banks and statutory receiver of the three institutions, which has been made to Judge P. A. McElroy in superior court and approved by the court. Operating losses of the three defunct institutions under the receivership are listed as follows: First Bank & Trust Co., (Dec. 31, 1931 to Dec. 31, 1932)-$13,041.82 American Bank & Trust Co., NEA (Dec. 31, 1931 to Dec. 31. 1932)-$536.09. Henry Latrobe Roosevelt, above, Bank of Fletcher (April cousin of the president, is the new 25, 1932 to Dec. 31, 1932) assistant secretary of the navy. -$738.50. He is the fifth member of the Creditors of the banks who Roosevelt family to hold that post. have studied the report pointed He is a former marine corps ofout that for the periods coverficer. ed, the income of the receiver, such as rents, interest on balances and the like, lacked $14,316.41 of meeting liquidating Weather Data For expenses such as salaries, traveling expenses, etc. A statement by Mr. Hood is to the effect that expenditures Week Compiled were necessary and reasanable in the liquidation of the trust, and that the expense was made High Temperature Of 77 for the best interest of the credDegrees Reached Tuesitors. "The losses shown were realday ized in the sale of assets or in compromising or compounding bad A high point of 77 degrees of or doubtful assets, which action temperature was recorded for the was for the best interest of the month here on Tuesday of this creditors," the report of Comweek. while the mean temperature missioner Hood states for the month is practically three The report of the First Bank degrees under the normal mean shows resources of $1,674,244.52 for March, according to weather as of December 31, 1931, and data compiled by T. W. Valentine, resources of $1,456,153.01 as of local weather observer, last night. December 31, 1932. Increases Rainfall has been near normal so in resources of $32,207.54 and far this month, the figures show. decreases of $250,299.05 are Weather data compiled for the shown by the report. The inmonth so far, is as follows: crease is shown in a $16,114.69 Date Max. Min. Mean Prec'n. increase in real estate, and the 37 21 53 11 decrease is shown in a reduc50 32 68 12 tion in cash and due from banks, 52 41 63 13 cash items and overdarfts, stocks 0.76 67 58 77 14 and bonds. loans and discounts, 0.05 57 49 66 15 furniture and fixtures, and stock 44 30 57 16 assessments due. 51 31 72 17 A reduction of $218,091.51 in Summary for Month to Date liabilities is shown. the figures 77 Maximum being $1,674,244.52 as of De57.2 Mean maximum cember 31, 1931 and $1,456,44.7 Mean 153.01 as of December 31, 1932. 17 Minimum The report lists expenses as 32.2 Mean minimum $20,075.32 and income as $7,41 Mean daily range 033.50, and shows an operating 2.63 loss of $13,041 82. The report Precipitation Normal mean temp. for Mar. 47.5 (Continued on page four) 5.62 Normal prec'n. for March