Planters Bank & Trust Company (Opelousas, LA)

Episode Information

Episode UID
8729713491585
Episode Type
Run → Suspension → Reopening
Bank Type
trust
Bank ID
872971349 hash
Start Date
January 23, 1932
Location
Opelousas, Louisiana (30.534, -92.082)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
14aefefe1b1f5977

Response Measures

None

Description

Run followed the closing of the Parish Bank & Trust Co. and was resolved by rapid reorganization and brief suspension.

Events (3)
1. January 23, 1932 Run
Cause
Local Banks
Cause Details
Run was triggered by the closing/suspension of the nearby Parish Bank & Trust Company of Opelousas.
Measures
Bank met demands during the day; officers arranged reorganization and protection plan (froze deposits/issued certificates, reorganized capital).
Newspaper Excerpt
Following the close of the Parish Bank & Trust Co. of Opelousas on Saturday, Jan. 23, a run of considerable proportions developed and continued throughout the day on the Planters Trust & Savings bank
Source
newspapers
2. January 25, 1932 Reopening
Newspaper Excerpt
the bank reopened as the Planters Trust & Savings bank of Opelousas; The Planters Trust & Savings bank, of Opelousas, opened today for business under a reorganization in which the bank retained its same name and same officers.
Source
newspapers
3. January 25, 1932 Suspension
Cause
Local Banks
Cause Details
Brief suspension enacted to effect reorganization and protect depositors after the run triggered by the Parish Bank & Trust Co. failure.
Newspaper Excerpt
after only a few hours' suspension of business on the Monday following, viz Jan. 25, 1932, the bank reopened
Source
newspapers

Newspaper Articles (9)
1. January 26, 1932 The Atlanta Constitution Atlanta, GA

Article Text

Bank Reopens. suffering bruises received the wreck. They were riding with Branch. The Planters Trust & Savings bank, BANKER LOSES APPEAL Opelousas, opened its doors today for under FOR DELAY IN TRIAL in which the bank retained its and same KNOXVILLE, Tenn., Jan. 25.-(P) A notice the door at the Overruling motions for change opening by Brock, venue continuance, Judge stated that the Morton today ordered the trial had been turned to the state Basil Ramsey. president the deHolston Union National bank, on the bank Saturday, but that, proceed Tuesday. Attorneys then bank had been and obli- will start selecting jury from gations of the old bank had ab- special panel of 200 to try sorbed under certain Ramsey on charge of fraudulency.

2. January 26, 1932 Chattanooga Daily Times Chattanooga, TN

Article Text

Judge Morton Rules After Day of Argument. BELIEVES TIME'S FLIGHT HAS ALLAYED PREJUDICE Witnesses Say Banker Regarded as Tool of Lea, Caldwell and Attracts Sympathy Rather Than Hatred. KNOXVILLE, Jan. 25 (AP).—A last-minute fight of attorneys to remove the trial of J. Basil Ramsey, president of the closed Holston-Union National bank, to another county or have it continued, proved fruitless in Knox county criminal court today. Special Judge J. D. G. Morton overruled defense motions for change of venue and continuance and ordered the trial of the former banker on charges of fraudulent breach of trust to proceed Tuesday. A special panel of 200 veniremen, excused today, was ordered to report again Tuesday for jury service. Although Judge Morton had overruled a venue motion last June, defense attorneys renewed it again, charging the same "prejudice and ill-feeling" still existed against Ramsey. After an all-day hearing, Judge Morton ruled: "There is no showing to convince the court of the probability that the defendant cannot get a fair trial in this case. Certainly the passage of time has inured to allay the excitement of the public since June." Ramsey, attired in a neat, blue business suit and tan shoes, sat with his attorneys and observed the slow proceedings impassively. His wife, a slender, little woman dressed in a tan suit and brown hat, sat with him part of the day. Less than twenty-five spectators were in the small courtroom. W. T. Kennerly and E. N. Rogers, defense attorneys, read to the court numerous newspaper articles telling of the indictment of Ramsey and Col. Luke Lea in Knoxville federal court last September in connection with the failure of the bank and the indictment of Ramsey with Col. Luke Lea, Luke Lea, Jr., and three others at Nashville last August on a charge of conspiracy to defraud the Liberty Bank and Trust company there. An article was read referring to Ramsey as "a tool of Rogers Caldwell and Luke Lea." Atty.-Gen. J. F. Bibb countered with a score of witnesses who said feeling in some cases had turned to sympathy for Ramsey. Some on cross-examination said they had heard remarks that Ramsey "ought to be hung," while one witness said "the feeling against Lea, Caldwell and Ramsey mixed up together has been pretty bad." Atty.-Gen. Bibb announced the state would try Ramsey on an indictment charging misuse of a $25,000 note given by the Knoxville Journal to the Holston-Union National bank. He said he would not be able to close the state's case until Wednesday because State Highway Commissioner R. H. Baker could not be here before then. In citing reason for change of venue, Kennerly, of defense counsel, read from the Knoxville News-Sentinel an account of the trial of Horace G. Bales, charged with robbing the South Knoxville bank. Joel T. Anderson, attorney, was making an argument to the jury, and said, according to the article read to the court: "Just at the time when a man entered the South Knoxville bank, gun in hand, a man named Ramsey on Gay street sat in a fourteen-story building waiting for you and me to pass money over the counter. He went down with $14,000,000." The newspaper story pointed out that Anderson was called down by the presiding judge, who said he was arguing outside the record. The venue motion further said a "heavy run by depositors on the East Tennessee National bank Friday, Nov. 13, 1931, created great excitement and further prejudice against banks, bankers and former bankers, and especially against the dependant." In general the state's witnesses said any feeling existing against Ramsey had subsided. L. C. Nicely, lumber inspector, said the feeling existed that "Ramsey more or less was used by Lea and Caldwell." "I have heard folks say Ramsey should be convicted because he was a tool of Lea and Caldwell," Frank T. Goddard, clothier, testified. "Feeling against Ramsey is now reversed and is now one of sympathy," testified Frank Carpenter, garage man. At the conclusion of the hearing, Kennerly moved that the case be passed to the next term of court "on account of the feeling existing against Ramsey." "Additional time," he said, "will allow feeling to further subside." The motion was overruled promptly by Judge Morton. Opelousas Bank Opens. OPELOUSAS, La., Jan. 25 (AP)—The Planters Trust and Savings bank, of Opelousas, opened today for business under a reorganization in which the bank retained its same name and same officers.

3. January 28, 1932 Clarion-News Opelousas, LA

Article Text

PUBLIC APPROVAL GREETS PLANTERS BANK ACTION TO PREVENT FUND DEPLETION Closing of Doors for Short Time Monday, Formation New Bank, 100 Per Cent Protection of all Deposito Plus Ten Per Cent Payment on Deposits and Per Cent Interest Funds Wise Move as on Part of Bank to Future With timistic Viewpoint Public approval has been the action financiers ganizing the Planters Trust Bank with 100 per cent protection all deposits. Such is the found among and started the bank day, after the Parish Bank Trust Company morning. The run on the bank started Saturday and continued day. State Bank Brock and ing conference with Planters officials that lasted all night, decided to protect depositors against further runs. Bank officials rapidly formed bank with depositors cent cash their deposits. percent will be paid in cent in two years, three years, and cent, ing paid the expiration of Plans call for payment of cent on all such thus all accounts on savings account basis. generally realized that bank its strong both and small of instances fidence in the action taken. In the January of bank, cash hand posits encumbered bank totaled lion dollars. financial banks Not only do depositors look on further confidence that In the formation of the following officers Larcade, dents; Fred Guidry, The Board of Directors stitution follow: Larcade, bert Chachere, Emar drew Morest, Pulford, Daly, cade, Charles Biagni, The Capital structure In the $50,000. Brock public had strong and dence would soon last statement attitude rapidly gaining public mentum in the past two days every source.

4. January 29, 1932 The Eunice News Eunice, LA

Article Text

Planters Bank Reopened For Business Mon. Concern Is Reorganized And Deposits Are Frozen The Planters' Bank and Trust company, a reorganized financial institution affected following the closing of the Planters Trust and Savings Bank, of Opelousas, opened for business, Monday morning at 10 o'clock, with an increased capital stock of $50,000, which was raised amonog the stockholders, after a run on that bank, Saturday, the result of suspension of business by the Parish Bank and Trust company, of that city, early Saturday morning. The depositors of the old institution will be paid 10 per (Continued on last page)

5. April 8, 1932 The Town Talk Alexandria, LA

Article Text

REVIEWS BANK CONDITIONS (CONTINUED FROM PAGE ONE) and after only few hours suspension of business on the Monday following, viz. January 25, 1932. the bank reopened as the Planters Trust and Savings Bank of Opelou- Breaux Bridge Bank and Trust Company Bridge, La. with total deposits $264.suspended January 29. 1932. and reopened March 16th. under of Farmers and MerBank total deposits of approximately ganized and March 16th Bank of Abbeville and Trust Company. Bank of Maurice of Maurice. La deposits approximately February 1932. reopened March as branch of Abbeville and Trust ComBank Loreauville of Loreauville La., deposits $70,000. February 1932 in process and expected to reopen within few The Citizens Bank of Franklinton. total deposits approximately closed February 1932. has been placed in liquida. and the bank this forced go judicial liquidation. In this perfected whereby the fifty per funds delay. with fair prospect eventually In the one other bank December 1931, has by merger Also one the that in and has in of has its plans for and its reonly upon its loan from the reconIt has that there bank failures the United States during the past two this number only eight were Louisiana. In and of banks mentioned. was found order better the interests of all cerned. provide that depositors funds made available only on time basis. Eight banks and branches have been reopened by using this plan, and more than certificates deposit been issued. This includes one reduring the latter part of 1931. In this manner some twenty depositors having approximately $4,500,000.00 on deposit have been protected for the one their deposits. Records judicial liquidations banks will an age loss depositors of from 40 50 per centum. Therefore. through the method of reorganization the cases of the eight banks listed above. has resulted of two dollars to deThe reconstruction finance corporation has to many banks throughout this section. Louisiana Mississippi are in having local this ed in this city to facilitate negotia. for also. that the advisory board and staff of officials of this office of outstanding bankers and men of this who so well know the values the held by our banks. are thoroughly conThe National Credit Corporation and valued service, to many of our banks prior to the of the Reconstruction Finance Corporation.

6. April 8, 1932 The Daily Advertiser Lafayette, LA

Article Text

REPORT IS PREPARED BROCK Situation 1931 And During The Present Year Reviewed By Bank Commissioner BY BROCK (State Bank Commissioner) (Written for Associated Press) NEW ORLEANS, April banksituation in Louisiana may be regarded with considerable satisfaction view of general conditions that prevailed for sometime, and compared with the banking situation throughout the country whole. During 1931 there only five small banks, close in into judicial liquidation. Since the beginning of 1932 other small banks the most their suspension practically one hundred per having by reorganization, merger refinancing. Changes among State Banks Louisiana since January 1932 are follows: Planters Bank Cheneyville, with deposits approximately suspended January 1932. Reopened January 1932, Branch the Commercial Bank Trust Company Alexandria, Parish Bank Trust Company Opelousas, with total deposits aproximately $390,000.00, suspended January 1932. Reorganized and opened March Parish Trust Savings Bank. Following close of the Parish Bank Trust Company of Opelousas on Saturday January 23, considerable proportions developed and continued throughout the day Planters Trust Savings Bank, with total deposits $850,000.00. bank demand uninterruptedduring the day but deemed for the proper protection all depositoors, reorganization be effected. This was accordIngly completed over the week end, after only on the Monday following, viz January 1932, the the Planters Trust Savings Bank Opelousas. Breaux Bridge Bank Trust Comof Breaux Bridge, with total deposits of approximately suspended January 1932, reorganized and reopened March 16th, under name of Farmers Merchants Bank. Bank of La., deposits of suepended February 1932, March 16th Bank of Abbeville & Trust Company. Bank Maurice of Maurice, La., with total deposits approximately suspended February 1932, reopened March branch Bank Abbeville Trust Company. Bank of Loreauville of Loreauville, with total deposits suspended February 1932, now of and process within The Citizens Franklinton, with deposits of $72,000.00, February 15, 1932, has been placed in liquidation, and the only year to forced into liquidation. In case, however, perfected whereby the are to receive fifty per of their funds without with fair eventually more. In addition to the above, one other which suspended in December 1931, has reopened by merger bank in the town. Also of the banks that closed in Novemwhich since been in process completed its plans for and its being tingent only upon its loan from the Finance Corporation. been reported that there were some thirty hundred bank failures the United States past number eight in Louisiana. the several reorganizations and reopenings of banks mentioned, found necessary in order to better conserve the all concerned, to provide that depositors funds be made available only time payment basis. Eight banks three branches have been reopened using this plan, and more than certificates deposit have been issued. This includes one during latter part 1931. In this manner some twenty thousand depositors having approximately deposit have been protected for the full one hundred per centum of their deposits. Records forced judicial liquidations of banks show average to depositors of from forty fifty centum. Therefore, through the method reorganization used the of eight banks listed resulted saving nearly million dollars to depositors. Finance Corporacontributed material aid to many banks throughout section. Louisiana and Mississippi bankers fortunate having local office this located this to facilitate for loans; officials that the and composed and business this who well know the values the held by are converwith local conditions. The National Corporation valued many our banks prior the inauguration the Finance Corporation.

7. April 8, 1932 The Shreveport Journal Shreveport, LA

Article Text

BANKING SITUATION IN STATE IS SOUND, COMMISSIONER SAYS FROM PAGE ONE. Louisiana since Jan. 1, 1932, are as follows: Planters bank, Cheneyville, La., with deposits of approximately $90,000, suspended Jan. 9, 1932. Reopened Jan. 11, 1932, as branch of the Commercial Bank & Trust Co. of Alexandria, La. Parish Bank & Trust Co. of Opelousas, La., with total deposits of approximately $390,000, suspended Jan. 23, 1932. Reorganized and reopened March 1 as Parish Trust & Savings bank. Following the close of the Parish Bank & Trust Co. of Opelousas on Saturday, Jan. 23, a "run" of considerable proportions developed and continued throughout the day on the Planters Trust & Savings bank, with total deposits of $850,000. The bank met all demands uninterruptedly during the day but it was deemed advisable, for the proper protection of all depositors, that a reorganization be effected. This was accordingly completed over the week-end, and after only a few hours' suspension of business on the Monday following, viz Jan. 25, 1932, the bank reopened as the Planters Trust & Savings bank of Opelousas. Breaux Bridge Bank & Trust Co. of Breaux Bridge, La., with total deposits of approximately $264,000, suspended Jan. 29, 1932, reorganized and reopened March 16, under name of Farmers & Merchants bank. Bank of Abbeville, Abbeville, La., with total deposits of approximately $688,000, suspended Feb. 2, 1932, reorganized and reopened March 16 as Bank of Abbeville & Trust Co. Bank of Maurice of Maurice, La., with total deposits of approximately $51,000, suspended Feb. 3, 1932, reopened March 16 as a branch of Bank of Abbeville & Trust Co. Bank of Loreauville of Loreauville, La., with total deposits of $70,000, suspended Feb. 8, 1932, is now in process of reorganization and is expected to reopen within a few days. The Citizens bank of Franklinton, La., with total deposits of approximately $72,000, closed Feb. 15, 1932, has been placed in liquidation, and is the only bank this year to be forced to go into judicial liquidation. In this case, however, arrangements were perfected whereby the depositors are to receive 50 per cent of their funds without delay, with a fair prospect of eventually receiving considerably more. In addition to the above, one other bank which suspended in December, 1931, has been reopened by merger with another bank in the same town. Also one of the banks that closed in November, 1931, and which has since been in process of liquidation, has practically completed its plans for reorganization and reopening, its reopening being contingent only upon its obtaining a loan from the Reconstruction Finance corporation. It has been reported that there were some 3,600 bank failures in the United States during the past two years. Of this number only 8 were in Louisiana.

8. April 8, 1932 The Shreveport Journal Shreveport, LA

Article Text

Following the close of the Parish Bank & Trust Co. of Opelousas on Saturday, Jan. 23, a "run" of considerable proportions developed and continued throughout the day on the Planters Trust & Savings bank, with total deposits of $850,000. The bank met all demands uninterruptedly during the day but it was deemed advisable, for the proper protection of all depositors, that a reorganization be effected. This was accordingly completed over the week-end, and after only a few hours' suspension of business on the Monday following, viz Jan. 25, 1932, the bank reopened as the Planters Trust & Savings bank of Opelousas.

9. April 8, 1932 The News-Star Monroe, LA

Article Text

Official Declares Banking Situation Is Satisfactory By J. S. Brock (State Bank Commissioner) NEW ORLEANS, April 8.—(AP)—The banking situation in Louisiana may be regarded with considerable satisfaction in view of general conditions that have prevailed for sometime, and as compared with the banking situation throughout the country as a whole. During 1931 there were only five small banks to close in Louisiana and go into forced or judicial liquidation. Since the beginning of 1932 several other comparatively small banks have suspended, but for the most part their suspension was only temporary; practically one hundred per cent having resumed business, by reorganization, merger or refinancing. Changes among state banks of Louisiana since January 1, 1932, are as follows: Planters Bank, Cheneyville, La., with deposits of approximately $90,000 suspended January 9, 1932. Reopened January 11, 1932, as branch of the Commercial Bank & Trust company of Alexandria, La. Parish Bank & Trust company of Opelousas, La., with total deposits of approximately $390,000, suspended January 23, 1932. Reorganized and reopened March 1st as Parish Trust & Savings Bank. Following the close of the Parish Bank & Trust company of Opelousas on Saturday, January 23, a "run" of considerable proportions developed and continued throughout the day on the Planters Trust & Savings Bank, with total deposits of $850,000. The bank met all demand uninterruptedly during the day but it was deemed advisable, for the proper protection of all depositors that a reorganization be effected. This was accordingly completed over the week-end, and after only a few hours of suspension of business on the Monday following, viz., January 25, 1932, the bank reopened as the Planters Trust & Savings Bank of Opelousas. Breaux Bridge Bank & Trust company of Breaux Bridge, La., with total deposits of approximately $264,000, suspended January 29, 1932, reorganized and reopened March 16th, under the name of Farmers & Merchants Bank. Bank of Abbeville, Abbeville, La., with total deposits of approximately $688,000 suspended February 2, 1932, reorganized and reopened March 16th as Bank of Abbeville & Trust company. Bank of Maurice of Maurice, La., with total deposits of approximately $51,000, suspended February 3, 1932, reopened March 16th as a branch of Bank of Abbeville & Trust company. Bank of Loreauville of Loreauville, La., with total deposits of $70,000, suspended February 8, 1932, is now in process of reorganization and is expected to reopen within a few days. The Citizens Bank of Franklinton, La., with total deposits of approximately $72,000, closed February 15, 1932, has been placed in liquidation, and is the only bank this year to be forced to go in judicial liquidation. In this case, however, arrangements were perfected whereby the depositors are to receive 50 per centum of their funds without delay, with a fair prospect of eventually receiving considerably more. In addition to the above, one other bank which suspended in December, 1931, has been reopened by merger with another bank in the same town. Also one of the banks that closed in November, 1931, and which has since been in process of liquidation, has practically completed its plans for reorganization and reopening, its reopening being contingent only upon its obtaining a loan from the reconstruction finance corporation. It has been reported that there were some thirty-six hundred bank failures in the United States during the past two years. Of this number only eight were in Louisiana. In the several reorganizations and reopenings of banks mentioned, it was found necessary in order to better conserve the interests of all concerned to provide that depositors' funds be made available only on a time payment basis. Eight banks and three branches have been reopened by using this plan, and more than 100,000 certificates of deposit have been issued. In this manner some twenty thousand depositors having approximately $4,500,000 on deposit have been protected for the full one hundred per centum of their deposits. Records of forced or judicial liquidations of banks will show an average loss to depositors of from 40 to 50 per centum. Therefore, through the method of reorganization used in the case of the eight banks listed above, there has resulted a saving of nearly two million dollars to depositors. The reconstruction finance corporation has contributed material aid to many banks throughout this section. Louisiana and Mississippi bankers are fortunate in having a local office of this corporation located in this city to facilitate negotiations for loans; also, that the advisory board and staff of officials of this office is composed of outstanding bankers and