17045. Grape Belt National Bank (Westfield, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
12476
Charter Number
12476
Start Date
December 16, 1930
Location
Westfield, New York (42.322, -79.578)

Metadata

Model
gpt-5-mini
Short Digest
4b94dfca

Response Measures

None

Description

Articles report that the Grape Belt National Bank has been in liquidation since Dec. 16, 1930 and that a receiver (Edwin P. O'Connor) was appointed in June 1934 to continue liquidation. No bank run is described in the articles. The action appears to be a (voluntary) liquidation with a receiver assigned, i.e., permanent closure.

Events (3)

1. December 21, 1923 Chartered
Source
historical_nic
2. December 16, 1930 Receivership
Newspaper Excerpt
Edwin P. O'Connor to Continue Liquidation of Westfield Institution... in liquidation Dec. 16, 1930.
Source
newspapers
3. April 13, 1931 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (3)

Article from The Buffalo News, June 26, 1934

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Article Text

GRAPE BELT BANK RECEIVER CHOSEN Edwin P. O'Connor to Continue Liquidation of Westfield Institution. Judge John Knight in Federal court today appointed Edwin Connor, Brocton attorney, as receiver in equity and as receiver of Grape Belt National bank Westfield, in liquidation Dec. 16, 1930. suit had brought by group of former shareholders of the bank the National Bank Westfield. which began the liquidation activities as agent, and against group other former shareholders the Grape Belt bank. The action was brought to clear up the liabilities of all shareholders, some whom paid their statutory liabilities and more, while others have contributed to any and to determine ties of all parties involved the voluntary liquidation of the Grape Belt bank temporary injunction. issued by the court last week. which halted the National Bank of Westfield from seeking collect reputed deficit $46,000, was made permanent by the court the outcome of the suit. receiver ordered to post $25,000 bonds He given power to sell all assets the Grape Belt bank and to continue the liquidation of the bank and to sue recover statutory liabilities of shareholders. Elijah W. Holt, Buffalo attorney, who filed complaint against the banks and was named attorney for Receiver O'Connor.


Article from The Buffalo News, June 26, 1934

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Article Text

GRAPE BELT BANK RECEIVER CHOSEN Edwin P. O'Connor to Continue Liquidation of Westfield Institution. Judge John Knight Federal today Edwin Connor. Brocton attorney. as receiver equity and of the Grape Belt National bank. Westliquidation since Dec. 1930. suit had been brought by group of former shareholders of against the National Bank Westfield. began the liquidation activities agent against group other former shareholders the Grape Belt bank. The action was brought to clear up the liabilities of all shareholders, some of whom have paid their statutory liabilities and, more, while others have not contributed to any assessments, and determine equiof all parties involved in liquidation of the Grape Belt bank. temporary injunction, issued by the court which halted Bank of Westfield from seeking collect reputed deficit $46,000, was made permanent by the court pending the outcome of current suit. receiver ordered to post $25,000 bonds. He sell assets Grape Belt bank and continue the liquidation of the bank and sue and recover statutory liabilities Elijah W. Holt, Buffalo attorney who filed complaint against banks and shareholders. named attorney for Receiver O'Connor.


Article from The Buffalo News, June 27, 1934

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Article Text

GRAPE BELT BANK RECEIVER CHOSEN Edwin P. O'Connor to Continue Liquidation of Westfield Institution. Judge John Knight in Federal Tuesday equity Belt bank Dec. 16, 1930 had brought by group of the bank the National Bank which began the liquidation activities agent, against group other former shareholders Grape Belt bank The action to clear up the all whom paid their statutory while others have not contributed any determine equities of parties voluntary liquidation of the Grape Belt bank temporary injunction, issued by the court which National Bank Westfield reputed deficit of $46,000, was the court outcome the suit receiver post bonds all assets the Grape Belt and continue the liquidation bank and sue statutory Elijah W. Holt, Buffalo filed complaint the banks was attorney for Receiver