Thank you for visiting SNEWPapers!
Sign up free
The Bismarck Tribune
Bismarck, Mandan, Burleigh County, Morton County, North Dakota
What is this article about?
Report on 1921 U.S. bank failures: 528 closures, southern states hardest hit with 131 failures and $27M liabilities. Guaranty states like Texas (36) and North Dakota (34) affected. 37 national bank failures, third worst year historically.
Clipping
OCR Quality
Full Text
Washington, April 8. During the calendar year 1921, 528 state and private banks in the country were closed according to a statement issued today by Comptroller of the Currency Crissinger, summarizing bank failures for the year. However he added 163 of these banks were able to reopen or otherwise liquidate their liabilities.
The southern geographical division Mr. Crissinger declared, was the most seriously affected in respect to the number of bank failures and the volume of liabilities, there being 131 failures with liabilities totalling $27,000,000 in that section.
Failures in states in which the depositors guaranty system is in operation, were: Mississippi 6; Texas 36; North Dakota 34; Nebraska 22; Kansas 11; Oklahoma 22; Washington 11.
The calendar year 1921, Mr. Crissinger said, was the third most disastrous year with respect to the number of failures of national banks in the history of the national banking system, there being 37 such failures, with liabilities of $23,677,367.
The most disastrous year in this respect was 1893 when 65 failures occurred and the next was 1897 when there were 38 failures.
What sub-type of article is it?
What themes does it cover?
What keywords are associated?
What entities or persons were involved?
Where did it happen?
Story Details
Key Persons
Location
United States, Southern Division, Various States Including Texas, North Dakota
Event Date
1921
Story Details
In 1921, 528 state and private banks closed nationwide, with 163 reopening or liquidating. The southern division had 131 failures totaling $27,000,000 in liabilities. States with depositor guaranty systems saw failures: Mississippi 6, Texas 36, North Dakota 34, Nebraska 22, Kansas 11, Oklahoma 22, Washington 11. National banks had 37 failures with $23,677,367 liabilities, third worst year after 1893 (65) and 1897 (38).