Peoples Bank & Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: May 21, 1931
Location: Las Vegas, New Mexico (35.594, -105.224)

Metadata

Model: gpt-5-mini
Short Digest: a97e20df

Response Measures

None

Description

Article (Albuquerque Journal, May 22, 1931) refers to the People's Bank and Trust Company of Las Vegas having closed and a receiver (W. Melaven) handling assets; court suit about pledged securities. No run is described in the article. Closure in effect with receiver => suspension leading to permanent closure/receivership.

Events (1)

1. May 21, 1931 Receivership

Newspaper Excerpt: Melaven as receiver of the People's Bank and Trust company of Las Vegas... deposits in the bank when It closed.
Source: newspapers

Newspaper Articles (1)

1. May 22, 1931 Albuquerque Journal Albuquerque, NM

Article from Albuquerque Journal, May 22, 1931

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Article Text

BANK RECEIVER LOSES SUIT OVER SECURITIES PLEDGED ON A BOND SANTA FE, May 21 (P)-A bank may pledge its assets to on depository bond to secure 1eposit of public monies, the New Mexico supreme court held. Thursday, reversing judgment in the suit W. Melaven as receiver of the People's Bank and Trust company of Las Vegas against George H Hunker, as trustee and others. Melaven as sued Hunker, the trustee, for sureties on depository bond to secure $8 000 of Mora funds, which were on deposit in the bank when It closed. Melaven sought to recover bills receivable, which the bank had pledged to the sureties to indemnify them. Reversing the decision for Melthe court ren.anded the case to San Miguel county with instructions to district court to enter judgment in favor of Hunker. and the other appellants.