Wood County Bank (Parkersburg, WV)

Episode Information

Episode UID
69005271583
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
6900527 routing
Routing Number
69-0052
Start Date
November 7, 1931
Location
Parkersburg, West Virginia (39.267, -81.562)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
7a989b4ce7aa4001

Response Measures

None

Description

Articles report large embezzlement allegations and that the bank was closed and a receiver appointed.

Events (3)
1. November 7, 1931 Suspension
Cause
Government Action
Cause Details
Bank was closed (stopped operations) and subject to examiner/receiver action following troubles; closure dated November 7, 1931.
Newspaper Excerpt
First National reorganization plan... Parkersburg, Dec. 11 (AP)—L. L. Bailey, national bank examiner in charge of the First National bank, of Parkersburg closed November 7, said he had been appointed receiver ... earlier in the day details were announced of a mutual protection agreement ... reorganization of the Wood County bank a state institution.
Source
newspapers
2. December 5, 1931 Other
Newspaper Excerpt
Are Accused Of Embezzling $100,000 From Wood County Bank At Parkersburg Parkersburg. Oct. ... the closed Wood County Bank arrested today of bezzling about ... charged him with embezzling $30,259 from January, 1928 ... Ward, Harley Cline and John charged with embezzling during the same period.
Source
newspapers
3. December 11, 1931 Receivership
Newspaper Excerpt
PARKERSBURG, Dec. 11 (AP)—L. L. Bailey, national bank examiner in charge ... said he had been appointed receiver by order of J. W. Pole comptroller of the currency. Bailey said his appointment would not hinder any plan of reorganization.
Source
newspapers

Newspaper Articles (2)
1. December 5, 1931 Hinton Daily News Hinton, WV

Article Text

FOUR EMPLOYEES OF BANK FACE SERIOUS CHARGES Are Accused Of Embezzling $100,000 From Wood County Bank At Parkersburg Parkersburg. Oct. formofficer three the closed Wood County Bank arrested today of bezzling about of bank warrant against James Flemformer and cashier charged him with embezzling $30.259 from January, 1928. June, 1931. and joint warrant charging Ward, Harley Cline and John charged with embezzling during the same period. The warrants were out upcomplaint Edward Nelly, presthe bank by Justice the R. Hayes. four posted bond each action of the next grand jury in January

2. December 11, 1931 The Charleston Daily Mail Charleston, WV

Article Text

PARKERSBURG BANK RECEIVER IS NAMED First National Reorganization Plan to Continue PARKERSBURG, Dec. 11 (AP)—L. L. Bailey, national bank examiner in charge of the First National bank, of Parkersburg closed November 7, said he had been appointed receiver by order of J. W. Pole comptroller of the currency. Bailey said his appointment would not hinder any plan of reorganization. Earlier in the day details were announced of a mutual protection agreement depositors will be asked to sign as a step toward the reorganization of the Wood County bank a state institution. The agreement would provide that depositors leave their present deposits in the bank at 3 per cent interest until January 1933, when 20 per cent will be paid and 20 per cent each six months thereafter with the right reserved to the bank to extend or shorten the time.