10431. Commercial National Bank (Greensboro, NC)

View Charter #9123 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
9123
Charter Number
9123
Start Date
October 11, 1932
Location
Greensboro, North Carolina (36.073, -79.792)

Metadata

Model
gpt-5-mini
Short Digest
3d43b1ef580ec133

Response Measures

None

Description

Articles (Oct 1932 and Nov 1933) describe the Commercial National Bank in Greensboro as in the hands of a receiver (Dr. John Biggs) and discuss legal work for the receiver and collections for creditors. No run or heavy withdrawals are described. The bank was placed in receivership (comptroller involvement), so this is a suspension leading to permanent closure/receivership. Dates of initial suspension not provided; receiver is active by 1932-10-11.

Events (5)
1. May 5, 1908 Chartered
Source
historical_nic
2. November 15, 1911 Voluntary Liquidation
Source
historical_nic
3. October 11, 1932 Receivership
Newspaper Excerpt
Commercial National Bank Receiver Is Pleasantly Surprised' At Assessment Collections. ... John Biggs receiver of National bank here ... Mr. Biggs has handled the liquidation ... collections are much better ... for the bank's creditors (News and Record, 1932-10-11).
Source
newspapers
4. November 11, 1933 Other
Newspaper Excerpt
TURNER AND SHUPING NAMED AS ATTORNEYS. Guilford Lawyers to Do Legal Work For Commercial National Bank's Receiver. ... were, today pointed attorneys for Dr. John Biggs, receiver the Commercial National bank ... the bank went into receivership. (News and Record, 1933-11-11)
Source
newspapers
5. * Suspension
Cause
Government Action
Cause Details
Bank placed in receivership by the Comptroller of the Currency (government action); the bank had a receiver handling liquidation and collections for creditors.
Newspaper Excerpt
the bank went into receivership
Source
newspapers

Newspaper Articles (2)
1. October 11, 1932 News and Record Greensboro, NC
Article from News and Record, October 11, 1932

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Article Text

BIGGS IS OPTIMISTIC ON BUSINESS OUTLOOK Commercial National Bank Receiver Is "Pleasantly Surprised' At Assessment Collections. Greensboro Daily Mureau 105 Broad Street, High 10.-Another hopeful indication business today the getting John Biggs receiver of National bank here in pleasantly surprised.' said Mr Biggs, the attempt stock of the At the presthe handling for the best interest of the bank's creditors more from are be who not receiver. The against stockholders of the Commercial National bank was delayed for months was pending. Mr. Biggs that his result the collection less amount for the creditors' benefit. 'Collections are much better than Mr. Biggs looks like to me conditions are Mr. Biggs has handled the liquidamore than Carolina banks and his statement that there better ahead here words coming from an authoritative source. The Beaumont club the league 120,000 customers ing the season, high mark for city.

2. November 11, 1933 News and Record Greensboro, NC
Article from News and Record, November 11, 1933

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Article Text

TURNER AND SHUPING NAMED AS ATTORNEYS Guilford Lawyers to Do Legal Work For Commercial National Bank's Receiver. Greensboro Daily News Bureau East Broad Phone ner, Jr., of High Point, member of the 1933 general assembly. and C. L. Shuping. Greensboro, state manager of the 1930 Bailey senatorial campaign and long prominent in Democratic "circles, were, today pointed attorneys for Dr. John Biggs, receiver the Commercial National bank Russell Republican. who held the post the bank went into receivership. Mr Robinson to retained in pending was learned this from the receiver The is lucrative apcoming from the comptroller of the currency No reason was given for the shift but is taken for granted in this community that the entirely political Mr. Republican was appointed during the Hoover administration He is being replaced by Democrats in adminisThe incoming attorneys are well known in Guilford county and both have reputation of competent lawyers Mr. Robinson who has just from Mr Biggs letter him the change The letter includes this in its content Permit me to take this opportunity to express to'you my sincere apwhich you have rendered this during the time which have general want further to