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MEMPHIS BANK CLOSED IN RUN Liberty Savings Bank and Trust company of Memphis closed its doors yerterday and turned over to the banking The action followed slow the on bank during the day that drained
18057. Liberty Savings Bank & Trust Company (Memphis, TN)
Bank Information
- Episode Type
- Run → Suspension → Closure
- Bank Type
- trust
- Start Date
- June 29, 1928
- Location
- Memphis, Tennessee (35.150, -90.049)
Metadata
- Model
- gpt-5-mini
- Short Digest
444e39d1141497be
Response Measures
None
Description
Multiple contemporaneous articles (AP coverage) report a slow run that drained $200,000 and the bank closed its doors and was turned over to the State Banking Department on June 29, 1928. Assets were described as frozen; a state receiver was later referenced. This indicates a depositor run leading to suspension and eventual receivership/closure.
Events (3)
1.
June 29, 1928
Run
- Cause
- Bank Specific Adverse Info
- Cause Details
- Slow run during the day drained $200,000; reports cite 'frozen' assets suggesting solvency concerns prompted withdrawals.
- Measures
- None reported to stop withdrawals; bank closed and turned over to State Banking Department the next day.
- Newspaper Excerpt
- The action followed a slow run on the bank during the day that drained $200,000 from its vaults.
- Source
- newspapers
2.
June 29, 1928
Suspension
- Cause
- Government Action
- Cause Details
- Bank closed and was turned over to the State Banking Department following the run and 'frozen' assets.
- Newspaper Excerpt
- The Liberty Savings Bank and Trust Company of Memphis closed its doors yesterday and was turned over to the state banking department.
- Source
- newspapers
3.
July 1, 1928*
Receivership
- Newspaper Excerpt
- H. L. Grigsby, state superintendent banks, has not chosen agent for the Liberty Bank at Memphis... said it probably will be next week before an appointment [is] made (The Tennessean, 1928-07-06). Later references identify H. Grigsby as receiver for the defunct Liberty Savings Bank (1929).
- Source
- newspapers
Newspaper Articles (22)
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Bank in Memphis Closed After Run By Associated Press. Memphis, Tenn. June Liberty Savings Bank and Trust Company of Memphis closed its doors and turned to the department The action run the during the day that drained $200,000 from its It had approximately deposits and $2,700,000 loans Phil M Canale. attorney for bank, said "frozen" assets forced the closing
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MEMPHIS BANK CLOSES DOORS MEMPHIS. Tenn., June The Liberty Savings Bank and Trust Company of Memphis closed its doors yesterday and was turned over to the state banking department. The action followed slow run the bank during the day that drained $200,000 from vaults. It had approximately $3,000,000 deposits and $2,700,000 in loans. Phil M Canale, attorney for the bank. said "frozen" assets forced the closing. New Cabinet in Poland WARSAW, June the reconstructed Polish cabinet which Casimir Barter premier took the oath office today before President Moscicki.
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BANK CLOSES DOORS. MEMPHIS, Tenn., June 29 (P).The Liberty Savings Bank and Trust Co. of Memphis closed its doors yesterday and was turned over to the State Banking Department. The action followed a slow run on the bank during the day that drained $200,000 from its vaults. It had approximately $3,000,000 deposits and $2,700,000 in loans. Phil M. Canale, attorney for the bank, said "frozen" assets forced the closing.
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BANK IN MEMPHIS FORCED CLOSE June Liberty Savings Bank and Trust company of closed its and turned the state banking department followed slow the during the drained $200,000 from vaults.
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Bank Closes Down Memphis, Tenn., June 29.-The Liberty savings bank and Trust of Memphis closed its doors Thursday and was turned over to the state banking départment The action followed slow run on the bank during the day that drained $200,000 from its vaults It had approximately $3,000,000 deposits and in loans Phil M. Canale, attorney for the bank. said "frozen" assets forced the closing.
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MEMPHIS BANK SHUT AFTER $200,000 RUN The Liberty Savings Bank and was company of Memphis closed doors Thursday and was turned over to the state banking department. The followed GREEK CABINET RESIGNS. the during slow on June 29 the day that drained 000 Greek cabinet resigned today from lowing the resignation of G. Ka- The bank had approximately South Wales has plan fandaris. minister of finance. The 000 deposits and the Clarence latter had withdrawn because the 000 in Phil electrical power purposes liberal party had refused its sup- torney bank said Trozen the same time controlling the port of the government. assets forced the closing. 'stream against floods.
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SESSLER SENTENCED TWO SMALL BLAZES Happy Trio Comes To Grief, GUILTY PLEA QUICKLY CONQUERED All Due To Good Intention Former Clerk Given Two Years In "Cut" For Theft Of $1,500 On a plea of guilty to a charge of stealing $1,500. Adolph Sessler, former shipping clerk for a Howard street clothing firm. was sentenced today to two years in the House of Correction. The charge against Sessler came after he disappeared on May 18 with $1,500 of the funds of the Schleisner Company, 220 North Howard street, while onh is way to a bank. A week later officials of the firm received letter from Wilmington, Del., in which Sessler reported "I am being held for ransom: you will her from me later.' and in which be enclosed the missing bank book. According to Asistant Sate's At torney Elmer J. Hammer, who related the case today to Judge Albert S. J. Owens, Sessler went to the races at Louisville, Kentucky, and lost most of his money there. The remainder disappeared at another track. said Assistant State's At torney Hammer. and Sessler then appeared in the office of the prosecuting attorney in Cincinnati, where he surrendered and asked to be sent to Baltimore. He lived here in the 1500 block North Payson street. One Goes To Hospital. For Forty Stitches, Another Lands In Jail, While Feminine Member Of Party Draws Fine Once. not so very long ago, there were three free and care-free Negroes, but now, for practical purposes, there is only one. One of the others is confined to his home with severe breaks and damages and the third is also confined. The third is in jail. It is Abe ("Happy") Myers who is confined to his home pending alterations and repairs. It required forty stitches and a yard of surgical tape to mend him at the South Baltimore General Hospital last night, Happy The Unhappy Victim And although "Happy"-and the Grafton ("Half-Pint") Mason, "Happy" was really the vietim of good intention. "Happy" lives in the 800 block Peach alley, where Hattie Briscoe has an apartment. Last night "Half-Pint," who lives in the 900 block Sarah Ann street, paid a social call on Hattie When it became late "Happy" was stricken suddenly with his good intention. He paid business call on "Half-Pint." The business was to advise "HalfPint" that Hattie's "steady regular" was on the way and would soon be there and perhaps ter break and run away. But "HalfPint." according to police accounts, produced razor. Hattie Draws A Fine And that, ladies and gentlemen, is how "Happy" Meyers became the vie tim of good intention and had to have forty stitches and a yard of surgical tape to gather him together again. Today. in the Southern Police Court. "Happy" was dismissed, but couldn't go any place except home. Hattle was fined $26.45 for disturbing the peace and "Half-Pint" was stored away until the grand jury decides what shall be done with him. Fires On Steamer Virginia And In American Building Cause Little Damage Minor fires on the steamer Virginia, of the Old Bay Line, lying at Pier 5, Pratt street, and in the basement of the American Building, Baltimore and South streets, were quickly extinguished by firemen and members of the Salvage Corps today, who responded to silent alarms. An accumulation of grease in stack in the kitchen of the steamer became ignited and the crew of the closing. fireboat Cataract, lying nearby, was called. Soot in shaft in the engine room of the American Building was responsible for smoke filling the lower floor today. Norris Hook, of Catonsville, an employe of the building, discovered the slight blaze and called firemen by telephone. No excitement prevailed and few of the occupants of the office building knew firemen were at work. Memphis Bank Closes Doors Memphis, Tenn., June 29 (AP)-The Liberty Savings Bank and Trust Company, of Memphis, closed its doors yes. terday and was turned over to the State Banking Department. The action followed slow run on the bank during the day that drained $200,000 from its vaults. It had approximately $3,000,000 deposits and $2,700,000 in loans. Phil M. Canale, attorney for the bank, said "frozen" assets forced the
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Tennessee Bank Closed The Liberal Savings Bank and Trust company of Memphis closed its doors yesterday and was turned over McKENZIE & DEVER to the State Banking Department. The nction followed slow run on Funeral Directors and the bank during the day that drained Ambulance Service $200,000 from its vaults.
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A MEMPHIS BANK FAILS. Slow Run and "Frozen" Assets Forced Closing Yesterday. MEMPHIS, Tenn., June 29. The Liberty Savings Bank and Trust Company of Memphis closed its doors yesterday and was turned over to the state banking depart-
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Memphis Bank Closes After Run Thursday The Liberty Savings Bank and Trust company of Memphis closed its doors yesterday and was turned over to the state banking department The action followed a slow run on the bank during the day that drained $200,000 from its vaults It had approximately 3,000,000 deposits and $2,700,000 in loans. Phil M. Canale, attorney for the bank. said "frozen" assets forced the closing
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Dr. De Castro Dead LISBON, Portugal, June 29 Dr. Alvaro De Castro former Portuguese premier who recently returned to Lisbon from political exile in Paris, died today at Coimbra. The health of the former premier had been of late and was on his request that he be permitted to return to his home that the Portuguese government allowed him to enter the country. Dr. De Castro was accused of being involved in activities against the government in 1926. MEMPHIS BANK CLOSES. The Liberty Savings Band & Trust Co., of Memphis closed its doors yesterday and was turned over to the state banking department The action followed slow run on the bank during the day that drained $200,000 from its vaults. It had approximately $3,000,000 deposits and $2.700,000 in loans. Phil M. Canale, attorney for the bank, said "frozen" assets forced the closing
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Memphis Bank is Closed By State The Liberty Savings Bank and Trust Company of Memphis closed its doors yesterday and was turned to the state banking department The action followed SOW run on the bank during the day that drained $200,000 from its had approximately $3,000,000 deposits and $2,700,000 loans. Phil M. Canale. attorney for the bank. said "frozen" assets forced the closing.
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BANK AT MEMPHIS CLOSED ITS DOORS Associated June Savings Bank and Liberty of Memphis closed Company and turned doors the banking department The action day that drain the bank during from vaults had Phil deposits and
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$200,000 Run Closes Bank in Memphis Memphis, Tenn., June 29.-(P)The Liberty Savings Bank and Trust Company of Memphis closed
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FRIDAY JUNE 29. 1928 THE SPRINGFIELD WAR ON WEEVIL WINNING EXHIBITS AT WOMAN'S TOWN CLUB FLOWER SHOW ARE PICTURED PAYS FARMERS BIG DIVIDENDS Profit of 200 Per Cent Reported by Some Gotton Growers of the South. AUBURN Ala., June For each dollar cotton farmer spends poisoning boll weevils properly he may expect as an average, two or three dollars in return. This is the conclusion drawn from three experiments on as many soil divisions of Alabama conducted during the last four years by the department of entomology of the state colege of agriculture. On the sandy loam soil of the experiment station here the per acre yield of seed cotton was increased 260 pounds by poisoning boll weevils with calcium arsenate This is the four year average. The same increase was obtained on Houston clay soil in Lee County, while an of 231 pounds was obtained on Cecil clay land in Montgomery County The cost of poisoning per acre for season was $725. which paid for the calcium arsenate the machinery for applying it, and labor. Machinery was valued at $2 per acre per year Based upon market prices of seed cotton during these four years, the increase was almost three times the cost of the poison. The experiment revealed that where very little fertilizer is used and other conditions are such as to produce very small yields under favorable conditions, poisoning probably will not pay This fact was brought out by test on poor land with no fertilizer Where normal amount of fertilizer was applied poisoning was very unprofitable Poisoning began each year when Investigation revealed that 10 per cent of the squares in the field or on plot had been punctured The first application was followed by two others at four or five day intervals. These three applications were known as the first series. Additional applications were applied thereafter when infestation again reached the 10 per cent mark The number of applications per season caried from three to 11. The average for one of the experiments was six and for the other two. seven. study of the results reveals that poisoning did not pay every because of unusual weather conditions one year. However, the average is very much in favor of poisoning. using dry calcium arsenate and applying it with dust gun with powder enough to apply properly It is pointed out also that the boll weevil hazard is enhanced this year because the crop is later than normal and because more fertilizer has been applied This means@that the investment has been increased Larger plant growths may be expected. and larger plants are in favor of boll weevils because they provide protection during hot and dry weather. BANK CLOSES DOORS The Liberty Savings Bank and Trust Co. of Memphis closed its doors yesterday and was turned over to the state banking department. The action followed a slow run on the bank during the day that drained $200,000 from its vaults. THIRTY BRIDES WANTED GLASGOW "Thirty young men" have/written from Capetown asking the sheriff to find them "healthy thrifty wives. Winning exhibits at the annual flower show of the Woman's Town Club Thursday at the clubhouse are shown. In the upper picture is the first prize winning table. decorated by Mrs. A. M McKnight. The lower photo is of the twin prize winning vase arrangement designed by Mrs Charles L. Bauer. Exclamations of delight at the beautiful display at the annual flower show sponsored by the Woman's Town Club Thursday at the clubhouse, were heard from the numerous who viewed the choice blossoms from the flower gardens of the members. The flowers were displayed handsome vases the and on eight different tables The tables which attracted much attention. were laid in the club dining room The show was one of the most beautiful ever held in this part of the state The first prize for the best table arrangement went to Mrs. M McKnight. who was awarded handsome crystal the gift Carl K. Fried. The award for best arrangement of flowers in vases went to Mrs. Charles L. Bauer who received book. 'Four Seasons of Amateur Gardening. the gift of Roscoe Pierce The display arranged by Mrs. Carl Ultes also attracted much attention the chains of crystal holding together vases containing pink rose buds. This rested upon mirror and white while linens and lace pieces completed the détails. The Dutch arranged by Dutch dishes and formal containers of Old Dutch pottery making a fine background for candles in hammered brass tied with Bright yellow and orange nasturtiums were the flowers The prize winning table by Mrs. McKnight was set entirely in cut glass in shades of pale blue and rare old lace Delphiniums and roses in blue crystal backet the center of the table and the candlesticks were of blue crystal with the candles of apricot tint Miss Ruth Rice arranged cenusing cream linen cover of Russian origin. This was lovely arrangement of color. The display arranged by Mrs. W J. Branson consisted of two small of bud vases and large center bowl the of delphinium. pink spirea and Madonna lilies, with pink Dresden china on Cluny lace. and was most artistic. Choosing an aquatic arrangement for her table. Mrs. Roy McGregor used low bowl of flowers. in which swam tiny gold fish. long table Old fashioned candlesticks with red candles. with vase of sensation placed on decoother deep red fruits. was the table decoration arranged by Mrs. Harrie B. the service plates being Madeira napkins were used by Mrs. H. E. with silver service and the centerpiece was blue and white crystal basket of delphinium and Japanese The goblets and candlesticks had deep blue stems and tips, with the center of white making a most effective arrangement. One of the beautiful basket arrangements was that sent by the Van Meter Flower Shop. consisting of twig basket of the Princess shape, filled with flowers of rainbow hues. The gift of the Leedle Co., Inc., was handsome basket of sencular handles being tied with delicately shaded bow of velvet ribbon and ostrich feathers. Another lovely basket. the gift of Mrs. Roy McGregor, who also gave the American Pillar roses and who was chairman of the flower show, was filled with anthemus and ancousia. Other decorations included a bowl of pansies from Mrs. Harrie B. Martin: anique vases of rose and gold containing Sweet Williams delphinium and roses. from Mrs Charles L. Bauer: basket of Madonna lilies. delphinium and rambler roses, making color scheme from Kelly of Whitehall jet vase of Madonna Illies and delphinium from Mr. and Mrs. Paul C. Martin: delphiniur and coriopsis from Mrs. Fred Miller, basket of Sweet Williams in colors. Mrs L. Lamara Price of Plattsburgh, and basket of delphinium and gladioli from Mrs. E. C.
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MEMPHIS BANK QUITS AFTER RUN YESTERDAY June Liberty Savings Trust of over to The that It in Phil for said assets forced the closing
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BANK OF MEMPHIS CLOSES DOORS FOLLOWING A 'RUN' MEMPHIS, Tenn., June The Liberty Savings Bank and Trust company of Memphis closed yesterday and was turned over to the state banking department. The action followed slow run on the bank during the day that drained $200,000 from its vaults. It had approximately $3,000,000 deposits and $2,700,000 in loans Phil M Canale, attorney for the bank. said "frozen" assets forced the closing FRENCH 'BLUEBEARD' CAPTURED IN AFRICA MARSEILLES Frances. June 30 sessing middle aged Lothario who is charged with the murder of three flancees and the disappearance of 15 arrested yesterday in Algiers.
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TENNESSEE BANK SHUT AFTER RUN Liberty Savings Bank Trust pany of Memphis closed its doors yesterday and turned to the State Banking Department action slow run on the during the day that drained $200,000 from its It had approximately $3,000,000 deposits loans. Phil M. Canale, attorney for bank, "frozen' assets forced the closing.
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(Copyright, 1928.) ROBBER GIVEN 3 YEARS Slaugherty Pleads Guilty; Sobs Story to Judge. James E. Slaugherty, 32, barber, who held up O. Rosenthal, clerk at the State hotel, bound and robbed him of about $30, pleaded guilty to robbery by violence Friday and was sentenced by District Judge Rait to three years in the penitentiary, the minimum penalty. Slaugherty wept as he told his story. He said he came to Omaha Tuesday night from Des Moines, where he had been unable to obtain work. He never had been in trouble before. A recent operation for stomach ailments must be followed by another if he is to live, he MEMPHIS BANK CLOSED. Memphis, Tenn., June 29 (AP). The Liberty Savings Bank and Trust company of Memphis closed its doors yesterday and was turned over to the state banking department. The action followed slow run on the bank during the day that drained 200 thousand dollars from its vaults. It had approximately three million dollars deposits and $2,700,000 in loans. Phil M. Canale, attorney for the bank, said "frozen' assets forced the closing. The best way to recover lost valuables "Lost and Found' ad in The World-Herald. To phone it call JA 6633.-Adv.
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Bank Receiver's Agent Not Appointed Yet H. L. Grigsby state superintendent banks, has not chosen agent for the Liberty Bank at Memphis, he stated Thursday Mr. Grigsby said that It probably will be next week before an appointment made "We are not ready for him to begin work Mr. Grigsby explained, there no for appointing agent and putting him upon state's until his services are needed. WEST NASHVILLE LODGE, NO. 612, F. A. M. Will hold their regular stated meeting Sloan's Hall, corner 46th Street and Charlotte Avenue, on Friday, July REUBEN D. HAYS, W. M. W. E. GRIBBLE, Secy.
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BANK HANDLES ESTATE. U. P. Named Administrator for Local Property of J. P. Murphy. Russell-Heckle Seed Co. The Union Planters Bank & Trust Company will administer the estate the late Joseph Sales Store and Offices, 26 South Front St. Murphy St. Louis capitalist, who Wholesale Warehouse, Linden Station died in St. Louis, Dec. 27. last Mr. Murphy's will was probated in St. County Jan 14. ham Murphy being Yesterday Judge M Guthrie of probate here, appointed the Union Planters administrator to handle worth of cash and securities deposited here by Bond of $125,000 was provided by the bank. Cheering GIN FIRE CAUSES SUIT. The alleged failure of an insurto insure cotton gin for the amount by yesterday lead to the filing $3,750 damage suit in circuit The suit brought by A. R. owner of gin Company, Inc. Mr. Appling charges that the Nelson Company agreed to insure his against fire the sum of $6,750. The gin burned on Sept 22. the bill shows. and Nelson company. acting as brokers had only insured the place for $3,000. The difference of $3.750 sought INSURANCE AGENCY SUED. The Van Court Insurance Agency was sued for chancery court yesterday by H. Grigsby. receiver for the defunct Liberty Savings Bank. The receivsays among unpaid assets of the bank for the amount signed by the defendant company