10750. Grand National Bank (St Louis, MO)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
12220
Charter Number
12220
Start Date
March 1, 1933*
Location
St Louis, Missouri (38.627, -90.198)

Metadata

Model
gpt-5-mini
Short Digest
23d7f39a

Response Measures

None

Receivership Details

Depositor recovery rate
89.0%
Date receivership started
1934-03-19
Share of assets assessed as good
37.6%
Share of assets assessed as doubtful
49.1%
Share of assets assessed as worthless
13.4%

Description

The Grand National Bank of St. Louis failed to open after the banking moratorium in March (1933) and by Jan 1934 was listed among banks with reorganization plans in progress; by March 20, 1934 a receiver (John W. Snyder) was appointed and liquidation proceeded. No article describes a depositor run on this specific bank. I corrected/clarified timeline: banking moratorium last March refers to March 1933; receiver appointment is documented March 20, 1934.

Events (5)

1. June 15, 1922 Chartered
Source
historical_nic
2. March 1, 1933* Suspension
Cause
Government Action
Cause Details
Bank did not reopen following the banking moratorium (March 1933); remained a closed/failed-to-open national bank into 1934
Newspaper Excerpt
failed to open after the banking moratorium last March
Source
newspapers
3. March 19, 1934 Receivership
Source
historical_nic
4. March 20, 1934 Receivership
Newspaper Excerpt
John W. Snyder has been appointed receiver for the Grand National Bank of St. Louis, Comptroller of the Currency announced today. The receiver would proceed with liquidation of the bank (Mar. 20, 1934).
Source
newspapers
5. June 1, 1934 Other
Newspaper Excerpt
Continental Holding Company Is Sued by Bank Receiver. John W. Snyder, receiver for the defunct Grand National Bank, yesterday filed suit in Federal Court to recover $69,992 ... (Jun. 1, 1934).
Source
newspapers

Newspaper Articles (6)

Article from Jefferson City Post-Tribune, January 22, 1934

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Article Text

DEPOSITORS U. S. Comptroller Gives Status of Missouri Finincial Institutions; Are Being Reorganized. WASHINGTON, Jan. in deposits tied up National Banks in Missouri that failed to open after banking moratorium last March, all but approximately has been freed depositor use, the comptroller the currency announced today. The status the banks that failed to open: Five banks involving deposits of $22,891,000 have been reopened, habilitated, reorganized under new charters, acceptable assets to another bank. Three banks with $1,543,000 deposits have approved reorganization plans in various stages consummation. They the are Grand tional Bank, Louis; the First tional Bank Webster Groves; and the First National Bank, Lamar. Two banks with deposits of $278,do have approved plans reorganization. They are the First National Bank, Mountain Grove, the First National Bank, Windsor. Three banks with deposits of the hands receivfor liquidation. They are the Cherokee National Bank and the Southside Bank, both Louis, and People' National Bank, Seymour However the Southside National Bank receivers have out an approved organization plan which contemplates the release of 100 percent secured and 50 percent of deposits The five banks that have been reorganized First National Bank, Clayton; Third National Bank, Sedalia; Citizens' National Bank, Maplewood American Ex. change National Bank, St. Louis; and the Fidelity National Bank and Trust Company, Kansas City. Some 300 persons are living on Robinson Crusoe's


Article from St. Joseph News-Press, January 22, 1934

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Article Text

HUGE SUM RELEASED Over $22,000,000 in Frozen Deposits in Missouri Freed. About $9,000,000 in Closed National Institutions Is Still Unavailable. Jan. deposits tied up tional banks Missouri failed open after the banking moratorium but approximately $9,000,000 has been for depositor the comptroller currency today. The status of the thirteen banks failed open: Five banks involving deposits of have been reopened, habilitated, reorganized under charters, the acceptable assets sold to another bank. Three to Be Reorganized. Three banks with $1,543,000 deposits plans stages consumThey are the Grand National Bank, Louis; the National Bank, Webster the Bank, Lamar. banks deposits of $278,000 not They the First National Bank, Grove, and the First National Bank, Wind- Three Are in Liquidation Three banks with deposits of 707,000 in the for They are the Cherokee National Bank and the Southside National Bank, Both St. Louis, the People's National Bank; the National out organization plan plates the release of 100 per cent secured deposits 50 per unsecured deposits. The five banks have been reorganized First National Bank, Third National Bank, National Bank, Exchange National Bank, Louis, and the Fidelity National Trust Company, Kansas City.


Article from Daily American Republic, January 22, 1934

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Article Text

DEPOSITS IN CLOSED BANKS BEING RELEASED By The Associated Press. Washington, Jan. 000 in deposits tied up in national banks in Missouri that failed to open after the banking moratorium last March, all but approximately $9,000,000 has been freed for depositor use, the comptroller of the currency announced today. The status of the 13 banks that failto open: Five banks involving deposits of $22,891 have been reopened, rehabilitated, reorganized under new charters ,or the acceptable assets sold to another bank. Three banks with deposits have approved reorganization plans in various stages of consummation. They are the Grand National Bank, St. Louis; the First National Bank, Webster Groves, and the First National Bank, Lamar. Two banks with deposits of $278,000 do not have approved plans of reorganization. They are the First National Bank, Mountain Grove, and the First National Bank, Windsor. Three banks with deposits of $6,are in the hands of receivers for liquidation. They are the Cherokee National Bank and the Southside National Bank, both of St. Louis, and the Peoples' National Bank, Seymour. However, the Southside National Bank receivers have worked out an approved reorganization plan which contemplates the release of 100 per cent of secured deposits and 50 per cent of unsecured deposits.


Article from St. Joseph News-Press, March 20, 1934

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Article Text

BANK RECEIVER NAMED. John W. Snyder WIN Liquidate Grand National of St. Louis. WASHINGTON, March 20. W. Snyder has been appointed for the Grand National Bank of Louis, Comptroller Currency today was expected receiver would proceed with liquidation of the bank


Article from Rich Hill Mining Review, March 29, 1934

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Article Text

A PLUM TO RUBEY HULEN Clark Indorses H m as Attorney for St, Louis Bank Receiver Washington, March 28. -One of the largest political plums in federal patronage went to Rubey M. Hulen of Columbia, chairman of the Missouri Democratic state committee, Wednesday when Sen stor Bennett C. Clark recommend ed him as attorney for the receiver of the Grand National Bank of St. Louis. Hulen's formal appointment will be ma le later in the week by John W. Suyder, who Wednesday was named receiver for the de funct bank by the comptreller of the currency. The appointment of Hulen prob ably will result in a more friendly relationship with Clark after a re ported break earlier in the winter when the senstor announced his support of Representative J. L Milligan of Richmond for the Democratic nomination to the senate Hulen at that time was soliciting for bis own candidacy.


Article from St. Louis Globe-Democrat, June 1, 1934

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Article Text

Continental Holding Company Is Sued by Bank Receiver John W. Snyder, receiver for the defunct Grand National Bank, yesterday filed suit in Federal Court to recover $69,992 from the Continental Securities and Holding Company, of which Ed Mays is president. It is alleged that in De-