Elm City Bank - New Haven, CT

Bank Information

Episode Type: Suspension → Closure
Bank Type: private
Start Date: May 23, 1928
Location: New Haven, Connecticut (41.308, -72.928)

Metadata

Model: gpt-5-mini
Short Digest: b65d45acc7de678c

Response Measures

None

Description

Article reports receivers appointed for Gaetano Capasso's private bank (Elm City Bank) on May 23, 1928. The action was requested because the owner wished to retire; the bank is said to be solvent and receivers will wind up affairs — a voluntary winding-up/receivership leading to closure rather than a suspension following a run.

Events (1)

1. May 23, 1928 Receivership

Newspaper Excerpt: Receivers Appointed For Elm City Bank New Haven, May 23 (AP-Upon the application of Gaetano Capasso to State Banking Commissioner Lester E. Shippee, receivers have been named for Capasso's private bank in this city. Mr. Capasso has been ill for several months and wishes to retire from the banking business according to statement of his counsel. The bank is said to be solvent. Gaetano Capasso and Thomas S. Gilson have been named receivers and have posted bonds of $50,000. They will wind up the affairs of the bank.
Source: newspapers

Newspaper Articles (1)

1. May 29, 1928 New Britain Herald New Britain, CT

Article from New Britain Herald, May 29, 1928

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Article Text

Receivers Appointed For Elm City Bank New Haven, May 23 (AP-Upon the application of Gaetano Capasso to State Banking Commissioner Lester E. Shippee, receivers have been named for Capasso's private bank in this city. Mr. Capasso has been ill for several months and wishes to retire from the banking business accord. ing to statement of his counsel. Rocco Ierardi. The bank is said to be solvent. Gaetano Capasso and Thomas S. Gilson have been named receivers and have posted bonds of $50,000. They will wind up the affairs of the bank.