1768. National Savings & Trust Company (Washington, DC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust
Start Date
January 21, 1916
Location
Washington, District of Columbia (38.895, -77.036)

Metadata

Model
gpt-5-mini
Short Digest
554da4e07a619145

Response Measures

None

Description

Articles (Jan 21–28, 1916) describe the National Savings & Trust Company filing suit to sell collateral and then a court entry noting causes consolidated and the National Savings & Trust Company being appointed receiver. No mention of depositor runs or temporary suspension/reopening; the court-appointed receiver indicates closure/receivership. I corrected no names/dates aside from reading OCR; the receivership appointment is reported in the Jan 28, 1916 court calendar entry.

Events (2)
1. January 21, 1916 Other
Newspaper Excerpt
The National Savings and Trust Company has filed in the District Supreme Court a suit for authority to sell securities valued at $100,000 held by the corporation as collateral for money advanced to the brokerage firm of Lewis Johnson & Co.. It asks that a receiver be appointed to collect dividends pending a decision of the court as to the real ownership.
Source
newspapers
2. January 28, 1916 Receivership
Newspaper Excerpt
Kenyon, trustee, agt. National Savings and Trust Company, and National Savings and Trust Company agt. Kenyon, trustee: causes consolidated and National Savings and Trust Company appointed receiver: attorneys, C. C. Tucker, H. P. Gatley. Leon Tobriner and J. J. Darlington.
Source
newspapers

Newspaper Articles (3)
1. January 21, 1916 Evening Star Washington, DC
Article from Evening Star, January 21, 1916

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Article Text

ASKS PERMIT TO SELL $100,000 IN SECURITIES National Savings and Trust Suit Outgrowth of Lewis Johnson & Co. Failure. The National Savings and Trust Company has filed in the District Supreme Court a suit for authority to sell securities valued at $100,000 held by the corporation as collateral for money advanced to the brokerage firm of Lewis Johnson & Co. As to certain of other securities now held by it to which specific claims have been made the company asks that a receiver be appointed to collect dividends pending a decision of the court as to the real ownership. Named as defendants in the suit are J. Miller Kenyon, Byron U. Graham and H. Rozier Dulany, trustees in bankruptcy of Lewis Johnson & Co., and twenty-four other alleged claimants of interests in the securities. The company declares it made certain advances to the brokerage firm on the faith of the securities and had no reason to doubt that the stocks and bonds offered as collateral were owned by Lewis Johnson & Co. It asks that it be allowed to sell some of the securities and after reimbursing itself for the loans to distribute the surplus under direction of the court. The suit is said to be similar in purpose to the one brought by the trustees in bankruptcy a few weeks ago against the trust company and the claimants of interest in the securities. It is expected that the two suits will be consolidated for hearing. Attorney J. J. Darlington appears for the trust company.

2. January 22, 1916 The Washington Herald Washington, DC
Article from The Washington Herald, January 22, 1916

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Article Text

WANTS SECURITIES SOLD. Trust Company Files Suit Involving Bankrupt Firm. Authority is asked to sell securities valued at $100,000 held as collateral for money advanced to the bankrupt brokerage firm of Lewis Johnson & Co., in a suit filed in District Supreme Court yesterday by the National Savings and Trust Company. The company alleges that it made advances on the securities and had no reason to doubt that the stocks and bonds offered were the property of the brokerage firm. Permission is asked to sell some of the securities to reimburse the bank and distribute the remaining proceeds under the direction of the court. The court is also asked to appoint a re. ceiver to collect dividends on certain other securities now held by the bank, to which specific claims have been made pending a decision of the court as to the real ownership.

3. January 28, 1916 Evening Star Washington, DC
Article from Evening Star, January 28, 1916

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Article Text

THE COURTS. District Supreme Court. EQUITY DIVISION 1-Justice Anderson. Kenyon, trustee, agt. National Savings and Trust Company, and National Savings and Trust Company agt. Kenyon, trustee: causes consolidated and National Savings and Trust Company appointed receiver: attorneys, C. C. Tucker, H. P. Gatley. Leon Tobriner and J. J. Darlington. Thompson agt. Thompson: rule returnable February 4; plaintiff's attorneys, E. L. Gies and A. W. Gray. Murray agt. Murray; report of trustee approved: plaintiff's attorneys, Millan & Smith. Bauer agt. Bauer: hearing on rule continued; plaintiff's attorney. A. L. Newmyer. Merchant agt. Merchant; order for alimony: plaintiff's attorneys, F. B. Rhodes and P. B. Cromelin. Crittenden agt. Crittenden; decree pro-confesso; plaintiff's attorneys, M. J. Coibert and T. W. O'Brien. EQUITY DIVISION 2-Justice McCoy. Smith agt. Lady Fairfax Candy Company: leave to amend petition granted : petitioner's attorney. J. Dawson Williams: defendant's attorneys, M. D. Rosenberg and John Ridout. Williamson agt. Hoover: order advancing cause for hearing; plaintiff's attorney, J. R. Hoover. Rees agt. Friend ; hearing on rule continued to February 4: plaintiff's attorney, E. F. Colladay. Dante agt. Hutchins; motion to file formal petition relative to fixing day to pass on attorney's compensation denied without prejudice: plaintiff's attorneys. Brandenburg & Brandenburg: defendant's attorneys, Gittings & Chamberlin, W. G. Johnson, C. H. Merillat and Frank J. Hogan.