11773. Commercial National Bank (Greensboro, NC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
9123
Charter Number
9123
Start Date
March 1, 1932*
Location
Greensboro, North Carolina (36.073, -79.792)

Metadata

Model
gpt-5-mini
Short Digest
b4df8660

Response Measures

None

Description

No article describes a depositor run. The bank had already 'closed' by March 1932 (founder noted as president until its recent close) and was in receivership under Dr. John Biggs by Oct 11, 1932. Cause of suspension/closure appears to be official action leading to receivership (comptroller/receiver). Later articles (1933) discuss legal actions against directors during liquidation.

Events (6)

1. May 5, 1908 Chartered
Source
historical_nic
2. November 15, 1911 Voluntary Liquidation
Source
historical_nic
3. March 1, 1932* Suspension
Cause
Government Action
Cause Details
Bank had recently closed (per obituary March 30, 1932) and later was placed in receivership; closure appears related to official administrative action/liquidation overseen by comptroller/receiver.
Newspaper Excerpt
He was president until its recent close
Source
newspapers
4. October 11, 1932 Receivership
Newspaper Excerpt
John Biggs receiver of National bank here ... the handling for the best interest of the bank's creditors ... the collection ... for the creditors' benefit. 'Collections are much better,' said Mr. Biggs, the receiver of the Commercial National bank was ... pending against stockholders of the Commercial National bank was delayed for months ... Mr. Biggs ... has handled the liquidation ... (News and Record, 1932-10-11).
Source
newspapers
5. April 11, 1933 Other
Newspaper Excerpt
directors the Commercial National bank closed ... indictment ... counts the indictment ... dividends illegally made ... federal account granted after restrictions ... Greensboro (Statesville Record and Landmark, 1933-04-11).
Source
newspapers
6. November 11, 1933 Other
Newspaper Excerpt
TURNER AND SHUPING NAMED AS ATTORNEYS ... legal work for Commercial National Bank's Receiver ... Dr. John Biggs, receiver the Commercial National bank ... the receiver who held the post when the bank went into receivership (News and Record, 1933-11-11).
Source
newspapers

Newspaper Articles (4)

Article from The Greensboro Record, March 30, 1932

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Article Text

ELWOOD COX FUNERAL HELD (Continued From Page One) ness career and his name was linked Mills Lambert Ad pf number of industrial and Lehigh Por banking establishments and with Lehigh various offices of public trust. Lehman Funeral services began at the home here at m. the Rev. Tom Myers Alderman Sikes, pastor of the Central Liquid Carb Friends church, officiated was Ohio assisted by the Rev. W. McFarland Corp the Rev. Samuel Haworth, of Guilford College Lorillard Nash State highway staff employes, with Louis whom he was associated for 10 years, attended body Pallbearers. Mack Trucks Pallbearers were B. Steed Cot Oil Gar Saunders Hyatt Norman Fiddler H. Ellis. W. Hodgin, Marine R. Peacock and H. All Pea Marlin were employes of Mr. Cox in his Cola Marmon banking interests here Marsh Palm Mr. Cox founded the Commercial National bank here in 1891 and was pf its president until its recent close Carb He came here at the age of 24 and McKes began the manufacturer of shuttle Melville pf Miami began the manufacture of shuttle years he built plants In this Midland state and in Mississippi. Apparently his many activities told Mo-Kan-T on his strength and two months ago Mo-K-T pf he became ill with heart trouble that Gas preceded death Gas Mohawk Surviving are his wife and one Laund Mons Bak daughter


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.


Article from Statesville Record and Landmark, April 11, 1933

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Article Text

directors the Commercial National bank closed than and four deceased directors the made in action brought the the bank's amount alleged due directors account and lack care the and each of their terms The counts the indictment On of dividends illegally made federal account granted after restrictions Pierce Rucker Greensboro,


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