Bank of Pass Christian (Pass Christian, MS)

Episode Information

Episode UID
85047971572
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
8504797 routing
Routing Number
85-0479
Start Date
December 1, 1930*
Location
Pass Christian, Mississippi (30.316, -89.248)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
96b7ef39c4ab1314

Response Measures

None

Description

Articles state the bank closed and turned its affairs over to the state banking department; indictments followed.

Events (2)
1. December 1, 1930* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank cited 'frozen loans' (asset problems/insolvency) as reason for suspension; deposits alleged accepted while insolvent.
Newspaper Excerpt
turned its affairs over to the state banking department last December; Frozen loan was given as the cause of the bank's suspension.
Source
newspapers
2. March 12, 1931 Other
Newspaper Excerpt
three former officials of the now closed Bank of Pass Christian who were indicted by the grand jury at Gulfport last week ... alleged that deposits were accepted with knowledge the bank was insolvent (indictments related to closing/turning affairs to state banking department).
Source
newspapers

Newspaper Articles (6)
1. March 12, 1931 The Vicksburg Post Vicksburg, MS

Article Text

LEE M. RUSSELL SAYS INDICTMENT MISTAKE Press) NEW ORLEANS. Mar. 12-Lee Russell, former Mississippi, upon being advised here that he was among three former officials of the now closed Bank of Pass Christian who were indicted the grand jury Gulfport last week, today described the action as 'mistake technical or politics. "The whole thing ridiculous,' Mr. Russell said, and that goes for the action that has been taken against the other officers of the bank well Mr. now practicing attorney of indictcourt officials yesterday, with Walker. torney of Shaw, Miss. and Donald B. Allen, former Baptist minister, who were officers of the bank at the time closed its doors and turned its affairs to the state banking department last December "Frozen loan" was given as the cause of the bank's suspension. The indictments. said dispatches from Gulfport alleged that deposits were with knowledge the bank was insolvent Russell served of governor Mississippi from 1920 to 1924.

2. March 12, 1931 Hattiesburg American Hattiesburg, MS

Article Text

LEE RUSSELL Former Governor Declares Accusation in Banking Case 'Ridiculous' Associated Press.) NEW ORLEANS, March 12.-Lee M. Russell, former governor of Mississippi, upon being advised here that he among three former officials of the now closed Bank *of Pass Christian who were indicted by the grand jury at Gulfport last week, today described the action as "mistake, a technical difficulty or politics." "The whole thing is ridiculous," Mr. Russell said, "and that goes for the action that has been taken against the other officers of the bank well." Mr. Russell, now a practicing attorney of Gulfport, was indicted, court officials revealed yesterday, along with C. Walker. attorney of Shaw, Miss., and Donald B. Allen, former Baptist minister, who were officers of the bank at the time it closed its doors and turned its affairs over to the state banking department last December. "Frozen loans" was given as the cause of the bank's suspensioin. The said dispatches from Gulfport, alleged that deposits were accepted with knowledge that the bank was insolvent. Russell served as governor of Mississippi from 1920 to 1924.

3. March 12, 1931 The Daily Advertiser Lafayette, LA

Article Text

EX-GOVERNOR OF MISS. HAS BEEN INDICTED Lee M. Russell Among Three men Accused In Closing Of Pass Christian Bank (By The Associated Press) NEW ORLEANS, Mar. 12.-Lee M. Russell, former of Mississippi, upon being advised here that he was among former officials of the now closed Bank of Pass Christian who were indicted by the grand jury at Gulfport last week, today described the action as "mistake, a technical difficulty of politics. "The whole thing is ridiculous, Mrs. Russell said, "and that goes for the action that has been taken against the other officers of the bank as well." Mrs. Russell, now practicing attorney of Gulfport, was indicted court officials revealed yesterday, along

4. March 14, 1931 Weekly Town Talk Alexandria, LA

Article Text

$152,500 ALLOTTED FOR RED RIVER WORK War Department Announces Fund for Improvement Below Fulton, Ark., Now Available. WASHINGTON, March 12.—(By A. P.)—Allotment of more than $52,819,245 for river and harbor work in all parts of the country was announced today by the War Department. The allotments were made up of $50,696,111.97 from the $60,000,000 appropriated for rivers and harbors work for the present fiscal year. The remainder will close the department's emergency appropriation fund of $22,500,000. The Missouri river received the largest single allocation with $6,149,800 for work from Kansas City to the mouth. Thus far during the fiscal year, with the present allocation, Missouri river allotments will total $13,385,000. "These allotments provide for carrying forward many important projects," a statement by the War Department said, "and will aid materially in the further relief of unemployment." The total allotted to Mississippi river work, covered in six separate items, amounted to $4,684,185. It included an item of $565,000 for the river between the northern boundary of St. Louis and the Illinois river, and $33,685 for the Illinois and Mississippi canal. On the Missouri river, in addition to the item from Kansas City to the mouth, $910,000 was allotted for work from Kansas City to Sioux City. In addition $590,200 was drawn from previously unallocated funds made available in the $22,500,000 emergency appropriation for unemployment relief passed by the last Congress. The allotments included: Red river below Fulton, Ark., $152,500. Pensacola Harbor, Florida, $36,000. Intra-coastal waterway, Pensacola, Fla., to Mobile Bay, Ala., $200,000. Alabama river, Alabama, $154,000. Examinations, surveys and contingencies (general), Montgomery district, $10,000. Mobile harbor, Alabama, $300,000. Black Warrior, Warrior and Tombigbee rivers, Alabama, $51,000. Tombigbee river, from Demopolis, Ala., to Walkers Bridge, Miss., $2,500. Bayou Labatre, Alabama, $10,000. Gulfport harbor and Ship Island Pass, Mississippi, $123,000. Pascagoula river, Mississippi, $2,500. Biloxi harbor, Mississippi, $52,000. Examinations, surveys and contingencies (general), Mobile district, $10,000. Southwest Pass, Mississippi river, Louisiana, $29,000. Mississippi river between Baton Rouge and New Orleans, Louisiana, $20,000. Bayou Terrebonne, Louisiana, $60,000. Bayou Grosse Tete, Louisiana, $6,000. Louisiana-Texas intra-coastal waterway (New Orleans-Sabine river section) $969,000. Examinations, surveys and contingencies (general), New Orleans district, $10,000. Removal water hyacinths, Louisiana, $32,000. Ouachita and Black rivers, Arkansas and Louisiana, $100,000. Boeuf river, Louisiana, $5,000. Removal water hyacinths, Louisiana, $32,000. Examinations, surveys and contingencies (general), New Orleans district, $10,000. Texas river and Bayou Macon, Louisiana, $5,000. Bayous D'Arbonne and Corney, Louisiana, $2,500. Yazoo river, Mississippi, $20,000. Former Governor Calls Indictment "Mistake, Politics" NEW ORLEANS, March 12.—(By A. P.) — Lee M. Russell, former governor of Mississippi, upon being advised that he was among three former officials of the now closed Bank of Pass Christian who were indicted by the grand jury at Gulfport last week, today described the action as a "mistake, a technical difficulty or politics." "The whole thing is ridiculous," Mr. Russell said, "and that goes for the action that has been taken against the other officers of the bank as well." Mr. Russell, now a practicing attorney of Gulfport, was indicted, court officials revealed yesterday, along with J. C. Walker, attorney of Shaw, Miss., and Donald B. Allen, a former Baptist minister, who were officers of the bank at the time it closed its doors and turned its affairs over to the State banking department last December. "Frozen loans" was given as the cause of the bank's suspension. The indictments, said dispatches from Gulfport, alleged that deposits were accepted with knowledge that the bank was insolvent. Russell served as governor of Mississippi from 1920 to 1924.

5. March 21, 1931 Chattanooga Daily Times Chattanooga, TN

Article Text

TRIAL OF EX-GOVERNOR DOCKETED FOR JUNE 10 GULFPORT Miss., March 20 Trial former Gov. Lee M. Russell and others indicted with the failure of the Bank of Pass Christian about year was tentatively set for June today when counsel for the one-time Mississippi executive posted $1,000 bond for his appearance in the June term of circuit court. Russell, president of the bank. and D. B. Allen, cashier, and Walker, vice-president, named in an dictment returned by Harrison county grand jury recently, charging that they received deposits in an insolvent bank. Capiases for arrest were not served the after they indicated they would attempt to avoid the processes of court.

6. December 7, 1931 Sun Herald Biloxi, MS

Article Text

CIRCUIT COURT TERM CONVENES (Continued from first page) jury action, he stated, before taking up other matters that might brought their attention. The charge concluded with repetition by the judge of the oath the grand jurors had taken and an effort on his part to impress upon them the and seriousness of this oath CONTINUES CASES Among the cases brought over from the last term of the court and again continued was that of the state against former Gov. Lee M. RusWalker of Shaw, Miss., and D. B. Allen, charged with receiving deposits an insolvent bank. These three defendants, president, vice-president and cashier, respectively. of the Bank of Pass Christian, which failed about two years ago, are under indictment in connection with the closing of the bank. At the last term of court the case was continued after the court had granted an order allowing defendants to examine books of the failed institution. About ten other cases from term of court were also continued. With no cases ready for trial. recess was taken tomor row thought probable that the grand jury would have its first MOODY FOREMAN Leo Moody of Gulfport was named foreman of the grand jury empaneled today and following the judge's charge and the designation of Deputy Sheriff Edward VanZandt as bailiff. the inquisitorial body repaired to its quarters and began its work. Following is the personnel of the grand jury Peter E. Quave, Leo B. Moody. Cary E. Spene. Hubert Holland. W Johnson, R. H. Hutchinson, E. C. Smith Isaac Allen. Ellis Scarberough, Henry House, Trochesset, W. Bugna, Robert Saucier, Alphonse Ladnier, Ernest Fayard. The following were empaneled as petit jurors for the week Chester H. Rose. P. Bass, H. E. Deer. W. W Finley Evans, Bernstein. Henry Ware, Frank LaRosa. Stanley Eldon Shaw S. ColeDan Johnson, Loren Saucier, Ladner.