94d3757f6275b853Full suspension, Books examined
Other: Bank was closed/placed in suspension and a federal receiver was appointed; shareholders were later assessed to liquidate the bank (receiver actions and shareholder assessments noted).
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QUEENS BANK CLOSES AS RESULT OF RUN NEW Aug. 22 (AP) The of dered the books the Rockaway Beach tional Bank Queens. the of which ordered closed result heavy The bank's last examination showed issued by the banks suspended protect our resldent depositors We suffered heavy because malicious examiners report will show
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PROBE CLOSING OF BANK AT ROCKAWAY BEACH, By The Associated Press NEW YORK flown intendent of Banking today ordered Supercomplete of books Beach National Bank Queens, the offices which were ordered closed heavy withdrawals The bank's showed resources statement issued by the banks suspended to protect our resiWe suffered foot run because The bank examiners' report will show solvency.
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WINNIPEG GRAIN Rockaway Beach Bank Closed. N. Y., August 22 (A.P. Beach National Bank was closed by order of its of and national bank were to take charge. Harry G. Heyson, the closing financial of as of deposof $585. 83 and savings deposits of $1,319,685.70. (By Thomson December October December
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GLOBE BANK AND TRUST CLOSED; GOSSSIP BLAMED The Globe Bank and Trust Com-4 pany, 815 Broadway, Brooklyn, and its four branch offices were taken over at 6 P. M. yesterday by the State Banking Department. "Nonliquid condition and depreciation in the value of its assets" was given as reason for the action. Deposit liabilities of the bank were listed at $5,366,000 the day before the bank was closed. The branch offices are located at 6617 Myrtle Ave., 1612 Broadway, 2700 and 5007 Church Ave., all Brooklyn. In connection with the closing of the Rockaway Beach National Bank in Queens, directors and officers yesterday anounced that Federal and State officials are attempting to discover the source of "malicious rumors" preceding the run on the bank, which resulted in its application for suspension. Willingness to drop the $50,000,000 action against the directors of the Bank of United States, provided they contribute to Max D. Steuer's reorganization plan "funds commensurate to the loss they caused," was voiced yesterday by Daniel W. Blumenthal on behalf of the Independent Stockholders and Depositors Committee, which he represents as chief counsel. Will you risk winning $100 to find out what your handwriting tells? Send a sample to The News graphology experts.
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BANK RECEIVER AT WORK IN QUEENS Takes Charge of Queensboro and Rockaway National. Raymond Schumaker of Indianapolis. Ind., assumed charge yesterday of the Rockaway Beach National Bank. of which he was appointed receiver by the Controller of the Currency at Washington last Saturday. Mr. Schumaker was appointed both for the closed Rockaway Beach National Bank and the Queensboro National Bank Corona. He said yesterday there was considerable work be done before he could issue any statements. It understood. however. that his appointment will no way interfere with plans for the organization the banks to make possible their reopening. Mr. Cehumaker said he would cooperate with committees working in the in. terest of the banks. will to study of the condition of the bank the time of closing and records and other data before will be in a position to make any announcement." said the tatements this will come from the office of the on(roller of the Currency.'
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BANK RECEIVER AT WORK IN QUEENS Takes Charge of Queensboro and Rockaway National. Raymond E. Schumaker Indianapolis, Ind., assumed charge yesterday the Rockaway Beach National Bank, of which was appointed receiver by the Controller of the Currency at Washington last Saturday appointed Rockaway Beach National Bank and National Bank Corona. He yesterday there work none before he could any statements that his appointment plans for organization of banks make possible their reopening. maker said would the make study the the bank closing and and other data before will position announcethis come office the Conroller of the
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Rockaway Bank Shareholders Receiver Will Allow Four May Face Action Courts Legal action will be taken against stockholders the closed Rockaway Beach National Bank who fail their assessments. This announced today by Raymond Schumacher, receiver the bank. Schumacher clared that the stockholders could meet assessment in four equal payments, one Dec. one Jan. the last March Delay payment will entail the addition percent interest, Mr. Schumacher declared. About $200,000 in stock has not accounted the payment the assessment, according to the bank receiver.
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2-BANK RECEIVER REPORTS Depositor Outlook Optimistic, Raymond Schumacher Declared in Statement. Rapid progress is being made in liquidating the affairs of the Queensboro National Bank of Corona and Rockaway Beach National Bank, according to Raymond E. Schumacher, receiver for the institutions. In statement issued yesterday he reported an optimistic outlook for depositors. More than 6,000 claims had been filed against the Corona Bank of 103-02 Northern blvd. with branch, at 51-11 108th st., FlushIng. and an additional 1,000 claims expected, according to Mr. Schumacher. The bank was closed Aug. 25, 1931, by the State BankIng Department. The Controller of the Currancy assessed the shareholders of the bank's stock $200,000 to liquidate the bank. The Rockaway Bank at 95-02 Rockaway Beach blvd., with one branch at Beach 116th st., was closed Aug. 21, 1931. Its shareholders were assessed $200,000. Mr. Schumacher reported receiving claims from depositors with about 900 more to be filed. Many small accounts opened the bank last summer by residents of the city who came to the Rockaways for the summer, Mr. Schumacher said. It has been difficult to trace all the holders of such accounts, he said, and urged any persons with the right to file claims against the do so as soon as possible. Both banks paid 50 per cent. dividend before Christmas. The buildings owned by the banks represented substantial aslets, Mr. Schumacher said. Representative William Brunner of the Rockaways was working to have he two Rockaway bank buildings purchased by the Government for use as postoffice or library buildngs, he said, Mr. Schumacher said that any prediction he might make as to the 'inal payments by the banks would "only guess," but added that the depositors might receive 80 ents on the dollar.
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2-BANK RECEIVER REPORTS ON TASK Depositor Outlook Optimistic, Raymond E. Schumacher Declares in Statement. Rapid progress is being made in liquidating the affairs of the Queensboro National Bank of Corona and Rockaway Beach National Bank, according to Raymond E. Schumacher, receiver for the two institutions. In a statement issued yesterday he reported an optimistic outlook for depositors More than 6,000 claims had been filed against the Corona Bank of 103-02 Northern blvd. with branch at 51-11 108th st., Flushing. and an additional 1,000 claims are expected. according to Mr. Schumacher. The bank closed Aug. 25. 1931, by the State Banking Department The Controller of the Currancy assessed the shareholders or the bank stock $200. 000 to liquidate the bank. The Rocknway Bank at 95-02 Rockaway Beach blvd. with one branch at Beach 116th st. holders assessed Mr. claims from depositors with about more TO be filed Many small opened at The bank last summer by residents The city came to for the summer 11 difficult to trace all skid, any persons with the right claims against the The buildings owned by the substantial as Pilant Brunner of the to have buildings by the for or library buildMr stid that any final by the banks would be 'only but added that the positors might receive 80