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8 CAROLINA BANKS FAIL AS BOOM ENDS; Closings at Asheville and Hendersonville, N.C., Laid toLand Value Collapse.CALLED PURELY LOCAL Two More Small Failures at Louisville and Two Also Across River at New Albany, Ind. For Protection of Depositors. Bank Head Appeals to Crowd. Identified With Development. Bank Examiner Blames Boom. Suspension in Missouri. $5,700,000 Tennessee Funds Tied Up. TWO LOUISVILLE BANKS FAIL. Two Others Across River at New Albany, Ind., Also Close. BANK TO REMAIN CLOSED. State Will Take Over American Exchange at Little Rock, Ark.
Special to The New York Times.
November 21, 1930, Friday
Section: Business & Finance, Page 46, 1765 words
ASHEVILLE, N.C., Nov. 20.–Eight banks in North Carolina closed today. The failures came as a consequence of the collapse of a real estate boom in Asheville and Hendersonville, according to John H. Mitchell, chief State bank examiner, who issued a statement from Raleigh.