On the evening of August 6, 1930, Thomas Shipp, Abram Smith and James Cameron were arrested for the murder of one Claude Deeter and the rape of his girlfriend, Mary Ball, in Marion, Indiana. Shipp, Smith and Cameron were all black, while Deeter and Ball were white.
Before dawn the next day, a large crowd gathered. Breaking into the cells where they were held, they dragged the three men outside, where Shipp and Smith were lynched (Cameron was able to flee after some members of the mob pronounced him innocent). A photographer named Lawrence Beitler took a photograph of the scene, including two dead men still hanging from their nooses, which sold thousands of copies and became an iconic image of racial injustice.
Ball later stated that she had not been raped by anyone; Cameron stated that Shipp and Smith were guilty of Deeter’s murder.
Although the effects of the Depression had been gaining momentum since Black Tuesday, on October 29, 1929, and several smaller banks had already fallen, the collapse of the Bank of the United States kicked things up a notch or two. The Bank, at that time the third largest bank in New York City (and twenty-eighth in the United States), sent shockwaves through the economy after a run on its savings began at its Bronx branch on December 10, 1930.
The panic that led to the run on the bank caused it to fail when it did (although it quite possibly would have collapsed even without this, although not until months or even years later) – and the collapse of the bank led to runs on other banks, which led to more collapses. The Great Depression deepened after 1930, and in many countries, did not end until the wartime economies of World War Two changed the playing field again.