1.
December 18, 1931
Springfield Evening Union
Springfield, MA
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DANIELSON, CONN., H. K. SMITH, ONCE B-ANK IS CLOSED ROOSEVELT AIDE, AS ASSETS DROP IS DEAD AT 62
Chester Native Was Active in Bull Moose Campaign in 1912; Lived in Farm- ington, Conn.
FARMINGTON. Conn., Dec. Herbert Knox political (AP) late President Theodore ally of the in the Moose sive movement of of heart disease old became one of the Smith close after Roosevelt's Washington in 1903 as deputy ing to in newly formed Bureau of later. appointed Four years of him Because of his success intrusted to Smith tions known in Washington as "doctor wrecks and the With following the renominaparty of President Smith tion to enlist corporation Roosevelt's Smith the In that same year Bull Moose ticket candidate Four later, under the he the party ed States for Recalling ernorship he got and Roose loyal admirer could do In recent Mass devot had not been his time to several Gertrude E His of former Charles H. Dietrich national in League held here funeral Quincy of the tional Church
Depreciation of "Securities Plamed for Condition; Run Started on Another
Conn 18-(AP) The Danielson Trust depreciation of the
Arthur and trust funds were be affected would Commerby the cial though they Bank to to partment affairs. an after the announceheavy ment of started the Brooklyn by directorate other an limit of required notice for amounts than that issued depression all voted to June Bank and to-
Hub Bank Withstands
Heavy they closed opened for
2.
December 18, 1931
The Waterbury Democrat
Waterbury, CT
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FROZEN ASSETS CLOSES BANK Hartford, Conn, Dec 18-(U. P.)-The state banking department issued a restraining order to-day closing the Danielson Bank and Trust Company at Danielson for the protection of depositors. State Banking Commissioner George J. Bassett said the same situation which caused closing of the Hamden Bank and Trust yesterday - frozen assets prompted his action at Danielson. The Danielson bank is capitalIsed for $100,000 and has total assets of $3,183,862. the commissioner said. Surplus and undivided profits are $183,000. Heavy pre-Christmas withdrawals of savings and Inability of bank officials to liquify assets with sufficient promptness necessitated suspension. Commissioner Bassett added a statement that Connecticut banks are generally in a strong position due to the statutory requiremente regarding investments. They are managed by men of high calibre, he said.
3.
December 18, 1931
The Berkshire Eagle
Pittsfield, MA
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BOSTON BANK READY TO MEET ALL DEMANDS
Has Plenty of Money and Will Pay Every Depositor, President Says BOSTON, Dec. 18 Boston Bank, which meeting steady demands for withdrawal by depositors for two days, today it was ready and willing to pay every depositor every cent and that under no circumstance would the 90-day notice law be invoked. Wilmot Evans, president, said: "No matter how long the run continues, the bank has plenty of monhand to meet all demands. We are paying the depositors as fast as they come. Conditions which have prevailed some have affected the Boston Five Cents Savings We ready and willing to pay ery every cent. 77 years bank has met promptly every demand upon We have always that the entrusted to us the property the and that they to payment on demand. shall not invoke the 90-day law for holding back any We do not need its protection and have not the least intention of seeking The Grove Hall Savings Bank, which closed before its hour yesterday, was opened for business this with the requirement for 90 days' notice for withdrawal Four banks in New England closed their yesterday as the result withdrawals. The institutions which either did not open for business which closed in the were the National Bank the Hamden Bank Trust Company of Hamden, Conn., the Arlington Trust Company of the Plymouth CounTrust Company of Brockton. The financial status of the banks at the time of their last official statements weer as BostonContinental, of capital stock Hamden, assets of 683; Arlington Trust, deposits Plymouth County, deposits of The Lawrence and Brockton banks closed shortly their usual closing time while the other institutions did not open for business The state had on deposit in the Arlington Trust and in the Plymouth County.
Conn. Bank Closes DANIELSON, Conn., Dec. 18 (AP). Danielson Trust Company remained closed today by order of the Board of Arthur Atwood, president, said accounts and trust funds were and would not be affected by the bank's difficulties.
Continued on 33rd Page
4.
December 18, 1931
The Journal
Meriden, CT
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CLOSED
Not Accounts Savings Affected; Commercial Tied Up Funds
STARTS BANK RUN
Blame Difficulties On Value of Securities
Conn., Dec. 18. The Danielson Trust company, assets impaired by the depreciation securities, remained closed today by order of the board of Arthur and trust funds savings accounts segregated and would not bank's difficulties. fected by accounts, however, Commercial $750,000 will teling although Atwood they will eventpressed paid in request of the board At the reached examiners from State Bank came the Danielson today take over the institution's Withdrawals Limited.
Within hour after the anan nouncement of the bank's suspenwas started Brooklyn Savings bank. which controlled an interlocking rectorate the other Immediately limit $100 placed immediate and depositors were required to 90-day notice for of amounts greater than that. depositors crowd the Brooklyn Savings bank withdraw their funds. officials sured them the was sound and all would met eventually The bank has and surplus of sets $5,000,000 $600,000 issued by bank officials today said: "Owing the depression in all securities which has not been nation wide, but world securities held by the Danielson Trust company depreciated such extent that the board directors have voted to close the company
Assets of $3,103,000 Atwood said the steady decline the value securities for weeks past had largely impaired the bank's surplus, that prices rose levels of last October difficullies could be cleared up. Indica-
5.
December 18, 1931
The Journal
Meriden, CT
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To Speed Relief
(Continued from Page One)
Snell and Rainey agreed on the floor that would be brought up in the House for action Monday. On leaving the White House, Mills said with the others that had been but would add nothing else Garner jovial as he climbed new White House car carried Capitel He came the White House afoot from his hotel, renounced his right the speaker's "Hello said. don't you often. You are up all these rich press conference called by Mr. Newton. said answer questions the large in Mr Hoover's mind, had been touched on "only broader The was not except phase the gram. The President hopes the carriers benefit through the proposed Corporawas the White House there had mention, but of the added the morameasure barring any cancellation or reduction of
Danielson Bank Closed
(Continued From One.) tions are now. he said. that holders deposits will even tually be paid in statement the bank as showed assets $3,103,000 The 1914 with capital This second suspen the in two The Hamden and Trust company suspended yesterday, deposits totalling order the bank department. Officials confidence depositors would be paid full
Reassuring Statement. means reassuring other Bank Commissioner George Bassett this afternoon issued statement on the situation the state: closing of the Hamden Bank Trust company of Hamden and Danielson Trust company case inability the officers sufficient had been rather heavier than
6.
December 18, 1931
The Journal
Meriden, CT
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Local Youth Played Important Role in Recovery
Roy Schaefer, pupil Windhigh school, yesterday was Connecticut Humane ciety hero medal double drowning which Morris 256 Capitol avenue and formerly of Queen street. Meriden. played an important Pauline LeGeyt and Norma Downs Windsor July treacherous the Farmington river. Unable battle strong current they called for help and Schaefer dove beneath surface recover the scious He aided by young men nearby in bringing ashore. Lawson, using his knowledge resuscitation, worked over both giris was in the recovery the two near victims. He member of Troop Boy America the church here and two the Atlantic college, South LanMass usual due to the present situation the "This in the opinion of the not any way general. but confined two ready affected. The banks in Connecticut exceptionally strong due the statutory restrictions regarding investments. case practically every bank. there strong group are vitally interested maintaining the honor and integrity our banks "The general banking situation throughout state present time, excellent there should cause for worry on the part depositors."
Dec. temrestraining order closing the Danielson Trust company. preliminary seeking appointment of receiver, by Bank George Bas through the attorney and issued this morning. Bassett that the fall value of securities placed the in position where would not meet for another week, although the cash position fair as trust company, 1914 the bank had savings de posits of and deposits of $750,000: capital 000 and surplus and undivided pro of Atwood Clifford secretary and treasurer.
7.
December 18, 1931
Sun-Journal
Lewiston, ME
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Danielson, Connecticut, Trust Company Closed
Assets Impaired by Depreciation of Securi Accounts Unaffected
DANIELSON, Conn., Dec. 18-(P) Trust sets impaired by the depreciation securities, closed today by order of the board of directors. Arthur Atwood president, said trust funds were segregated and would affected difficulties. Commercial accounts, totaling proximately $750,000, will tied up, said be paid Examiners State day take over the institution's affairs. Within an hour after the anheavy the Brooklyn an rectorate with the other institution. Immediately limit of $100 was placed on immediate with. were quired 90 day notice for of greater The Hamden Bank and Trust Company Hamden. up deposits totaling
8.
December 18, 1931
The Day
New London, CT
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Danielson Bank Closes But Will Repay All
DANIELSON, Dec. 18 (AP)-The Danielson Trust company. its assets by the depreciation of curities, remained closed today by order of the board of directors. Arthur savings and trust are segregated would be affected by the accounts however. totaling approx:will be tied up Atwood expressed confidence they eventually be paid in Within an hour after the anof the bank's suspension started on the Brooklyn Savings bank, which controlled an interlocking directorate with the other institution. Immediately imit of $100 was placed immediate on withdrawals and depositors were required to post ninety day notice for withdrawals of amounts greater than that
9.
December 19, 1931
Greenfield Daily Recorder
Greenfield, MA
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County Towns Named On Safety Honor List
Figures showing automobile fatalities in the 355 municipalities of the state during the past year have the State House and show per cent of the had had no fatality during Of the 98 honor list 52 were located Western MassaFranklin county towns were listed for honors 11, included These towns Shutesbury Sunderland and Warwick, none of which had reported fatal accident for two years.
CULBERTSON TEAM ADDS TO LEAD
NEW YORK Dec. 19 (AP) Culbertson. and Lightner gained greater lead in the ninth session the big contract match ending early Saturday, and Jacoby ever had. The Culbertson team took six of the session's nine rubbers and wound up 7915 points. in the lead. The standing of the 34 for Culbertson to 29 for Lenz. of rubber 63; Culbertson game the first hand On hand 330. the first of rubber 55, Culbertson contracted for no trump and made The plus for his side thereby became 5170 in contrast to 4965 at the start of the ninth session of the 150-rubber match.
BANK CLOSES DOORS DANIELSON. Conn. Dec. 19 (AP) Danielson Trust company, assets impaired by the of closed Friday by order of the board of directors.
ROYAL AUTOMOBILE CHEAP CSORNA, Hungary attempt to here automobile used by Archduke Friedrich of Hapsburg as of the world war forces, brought a top bid of $7.20.
10.
December 19, 1931
The Roanoke Times
Roanoke, VA
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FOUR BANKS IN TWO STATES ARE CLOSED
Philadelphia, Dec. subATTRACTIVE urban Lansdowne Bank Trust Company and the Drexel Hill LOW ROUND TRIP Title and Trust taken CHRISTMAS over tonight by the department of banking. HOLIDAY Dr. William D. Gordon. secretary of EXCURSION FARES banking, book assets Lansdowne Bank and Trust were the 954,000. and surplus are listed profits $40,377 RAILWAY VIRGINIAN deposits Total book assets the Drexel Hill Trust Company are listed TICKETS SALE Dr. Gordon $938,000. Capital 16 TO 25 surplus $90,000: ungiven Final Return Limit Tickets. divided profits $15,000 deposits midnight January
Conn, 18 Round Trip Week-end and Windsor Locks Sunday Excursion Tickets Trust Company Windsor Danielson On Sale At Extremely Low Trust Company Danielson, were Fares. closed today by George further particulars, Pullman State Depreciation security values. Basaddress Birchfield, General market necessitated the closing.
11.
December 21, 1931
The Buffalo News
Buffalo, NY
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Weekly Review of Stocks
Liquidation in stocks probably represented the of offerings which usually appear this time type chiefly of the income tax loss variety The of hesitancy of buyers was well illustrated in extreme the sharp declines by many preferred shares concerning whose dividend safety there is no serious However, the market at all times orderly. To business world the week brought no the portant change in trends. Heavy are down in accordance with normal year-end slowing trends. the decline being emphasized the tremely low level from which it Steel operato around 25 per cent. and the trade tions dipped felt perhaps they might lower before the turn go of the year brought larger inquiries. Money reflected seasonal which also appeared in the weekly banking Currency circulation is as it always does with the proach of Christmas, but the advance is far below last when the hoarding habit. by New York bank had taken on the
NEW YORK Dec. 19 (AP)-The most encouraging feature in the security markets this week was Friday's general recovery in bonds Extreme weakness market had been regarded as in the for meant that fixed most unfavorable securities were failing to attract buyers at prices which in many instances represented virtually receivership levels. and even the gloomiest pessimists have not felt that hundreds of the counleading corporations faced such dire straits. Bonds have been struggling against several The desire for liquidity among as the strong approad brought out constant dribble selling which fell on very timid Some this disposal of bonds owned closed some came from banks and institutions seeking strong cash position. was also substantial liquidation of collateral against The price weakness was to thinness of bids, and was to remedy Wall street that portant banking interests decided to support bonds were interested. Moto Met Steel Prod $2 Myers Bros Nash TO MEET ALL DEBTS Canada's Position Secure, Pre- Cattle mier Bennett Says. TORONTO Dec. 19 Canada This week's will meet her foreign debts when due and according to contract.' Premier R. The due B. Bennett said today The who returned last Sun day from branded as Wall street rumors the country might decline of were much abandon the gold standard He hinted vaguely at higher taxes for Canada Even the Englishman with an inof 100 is taxes was come pounds paying weak and liking he said same and spirit must be developed here if Canada is to survive receipts: The premier admitted the supposition that Canada would have per cent. of the Dominion's wheat quota Prime heavy for export to Great Britain is only Choice shipping but stated he thought the quota pounds would stand British tariff increases Fair good and rough have been favorable to he said He pointed out Canada is in the and conditon to meet the depression. stand- Best handy fifth nations in Medium ing among the merce despite its comparatively small helfers population of 10,000,000 Best butcher heifers Asked what would happen to the Common United States and France of world powers abandoned the gold Fair "That's matter for President Hoover good and Premier Laval. Canners common Best fat bulls 2 CONNECTICUT BANKS CLOSED Two Connecticut banks the Windsor Saturday's Locks Trust & Safe Deposit company Windsor Locks. and the Danielson Trust week's company Danielson were ordered closed Some Friday by the state bank commissioner sold The Windsor Locks incorporated ranged from in 1908 had savings deposits of $61 000, Total receipts: year other deposits of $268,000. and assets of 1,400,000 Assets of the other bank Heavies as reported June 30 were $3,103,000 Mixed and medium PLAN ANNUAL DINNER Light orkers Roughs Directors of the Marine Trust club will plan their annual banquet The lamb dinner meeting Tuesday evening at o'clock in Gandy's restaurant cents Outside BAR SILVER Some NEW YORK steady higher at 31c,
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