Peoples Savings Bank (Starkville, MS)

Episode Information

Episode UID
85014471573
Episode Type
Run → Suspension → Reopening
Bank Type
savings
Bank ID
8501447 routing
Routing Number
85-0144
Start Date
January 6, 1931
Location
Starkville, Mississippi (33.450, -88.818)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
219f003dff1bbce0

Response Measures

None

Description

OCR in articles shows variants like The People's Saving bank corrected to Peoples Savings Bank.

Events (3)
1. January 6, 1931 Run
Cause
Rumor Or Misinformation
Cause Details
Steady drain of deposits (withdrawals) by depositors, largely out-of-town nervous depositors unfamiliar with local conditions.
Measures
Bank closed its doors and awaited bank examiner audit; president arrived to reassure depositors.
Newspaper Excerpt
The People's Saving bank of Starkville, which closed its doors Tuesday morning, ... The closing was brought about by steady drain checking.
Source
newspapers
2. January 6, 1931 Suspension
Cause
Rumor Or Misinformation
Cause Details
Suspension followed heavy withdrawals and a steady drain of deposits that led the bank to close temporarily while awaiting an examiner's audit.
Newspaper Excerpt
The People's Saving bank of Starkville, which closed its doors Tuesday morning, is expected to reopen within the week.
Source
newspapers
3. February 4, 1931 Reopening
Newspaper Excerpt
The Peoples Savings Bank at Starkeville, closed for several weeks, has reopened.
Source
newspapers

Newspaper Articles (3)
1. January 10, 1931 The Greenwood Commonwealth Greenwood, MS

Article Text

BANK MAY OPEN TUESDAY STARKVILLE, The People's Saving bank of Starkville, which closed its doors Tuesday morning. is expected to reopen within the week According to the of the bank, all assets are intact and depositors will not lose. The closing was brought about by steady drain checking Most of the withdrawals were made by out of town depositors not familiar with the unusually good conditions of the county. Ames Saunders, of Memphis, president of the Peoples Savings bank, arrived Wednesday, and stated that the bank is solvent and would not lose, adding that these facts would be borne out after the bank examiner, working, finished his audit and makes statement. Sanders predicts the bank will reopen within the "next few very unusual aspect the closing that spite the great surprise to the people of Starkville, there was never the slightest murmur of possible runs the remaining two banks. The Security State Merchants' and bank have done business the usual orderly There depositors have greatly outnumbered people drawing money.

2. February 2, 1931 The Clarksdale Press Register Clarksdale, MS

Article Text

few minutes before when the convicts' car tumbled into a ditch. MORE BANKS IN Their lookout, John Creecon, was seized on the spot of their latest crime in Beacon, N. Y. The first three, accompanied by STATE REOPEN; William Rapp of Yonkers, escaped from penitentiary in the midst of holiday festivities last FREEZING PLAN Christmas Eye and fled into snow* carpeted woods near White Plains, week in City Hall Park, Yonkers, Depositors "Freeze" DeYesterday chase started when posits and Get Three Beacon jewelry store was robbed. Shots near the store failed to halt Opened by Agreement. the burglars. An alarm was sent. JACKSON, Miss., Feb. 2. (A) tween Beacon and New York. SpeedThree Mississippi banks ing along at 70 failes an hour, the robbers encountered state motoropened their doors today after sev. eyele policeman in Ossining, N. Y., eral weeks' suspension In th face but beat off his pursuit. of runs, J. S. Love. sup Intendent Roaring through Yonkers, they of banks announced. exchanged fire with another ofThe institutions resuming busi ficer and went off the road near the ness were: Bronx line. Reynolds was bagged Bank of Winona, Winona; the here but the others resumed their Bank of Kilmichael, at Kilmichael, flight in cab. At 242nd Street, and the Bank of Ethel at Ethel. one policeman jumped on their The plan for reopening the banks running-board and another menaced include "freezing" of deposits. them from the middle of the street. Under the plan only ten per cent As the cab ground to a halt, the withdrawal is permitted. desperadoes fired and missed. Both The Peoples Savings Bank of officers emptied their guns into the Starkville plans to résume business tonneau. Sirico rolled out lifeless tomorrow. and Clark died on the way The banks reoponed today are but hospital. several of a lengthy list that the Sirico was identified by tattooing superintendent hopes to have re- reading opened during the week or early Mary" and Clark by the this month. Red Cross nurse

3. February 4, 1931 The Indianapolis News Indianapolis, IN

Article Text

VAN SWERINGENS BID Brothers Seek to Add Eastern Road to Rail Empire. CLEVELAND, February 4 (A.P.)—Once more the brothers Van Sweringen seek wider domains for their far-flung empire of railroads. Coming almost on top of the recent agreement for a division of eastern trunk lines into four major systems, the Vans—M. J. and O. P.—have left no doubt of their intention to push their network into New England. If this new invasion is successful the brothers, who entered the transportation field as a by-product of their development of Cleveland real estate, will stand at the head of an interlocking network reaching from the coast of Maine to the Rockies at Great Salt lake. Their Chesapeake & Ohio, Erie and Nickel Plate roads carry them from the Atlantic seaboard at New York across the plains and industrial cities of the middle west, and the Missouri Pacific takes the trail on across the Mississippi to Utah and the Rio Grande. Their determination to acquire the 2,105 miles of trackage of the Boston & Maine railroad for their Nickel Plate-C. & O. system were revealed before the Providence Chamber of Commerce last night by William H. Boyd, Cleveland attorney. Mississippi Banks Reopen. JACKSON, Miss., February 4 (A.P.)—Resumption of business by Mississippi banks recently closed goes forward. The first of the larger institutions has reopened and others prepare to follow. The Peoples Savings Bank at Starkeville, closed for several weeks, has reopened. The reorganized Greenwood Bank and Trust Company, probably will resume Thursday or Friday and the Bank of Blue Mountain and its branch at Ashland probably Wednesday or Thursday. Three recently-closed banks at Winona, Kilmichael and Ethel have reopened. Four Iowa Banks Merge. OTTUMWA, Ia., February 4 (A.P.)—Merger of four Ottumwa banks into the Union Bank and Trust Company is announced. The banks involved are the Ottumwa Savings, Iowa National, Ottumwa National and Wapello County Savings Bank. The merged institutions will have resources of more than $5,000,000, making it one of the largest banks in southern Iowa or northern Missouri.