Potomac Savings Bank of Georgetown

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 4, 1938
Location: Georgetown, District of Columbia (38.905, -77.062)

Metadata

Model: gpt-5-mini
Short Digest: ef404c5c

Response Measures

None

Description

Article (Evening Star, 1938-06-04) reports a court order concerning sale of property belonging to the Potomac Savings Bank of Georgetown and refers to Justus S. Wardell as receiver. This indicates the bank was in receivership (closed) and assets are being sold. No run is described in the provided text, only receivership/closure and sale of assets.

Events (1)

1. June 4, 1938 Receivership

Newspaper Excerpt: Justus S. Wardell, receiver for both the Potomac Savings Bank and the Northeast Savings Bank, brought the matters to the attention of the court. He advised Justice Luhring he has received an offer from the Hamilton Bank for $100,000 to buy the premises ... from the Potomac Savings Bank.
Source: newspapers

Newspaper Articles (1)

1. June 4, 1938 Evening Star Washington, DC

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Article Text

SALE OF PROPERTY BY BANK APPROVED Luhring Says Offers of Hamilton to Two Firms Should Be Accepted. District Court Justice Oscar R. Luhring today signed an order directing that the offer of the Hamilton National Bank to purchase property belonging to the Potomac Savings Bank of Georgetown be accepted, unless contrary reasons are shown before June 15. Justice Luhring took similar action in the case of properties belonging to the Northeast Savings Bank, which the Hamilton National Bank also desires. Justus S. Wardell, receiver for both the Potomac Savings Bank and the Northeast Savings Bank, brought the matters to the attention of the court. He advised Justice Luhring he has received an offer from the Hamilton Bank for $100,000 to buy the premises on the northwest corner of Wisconsin avenue and M street N.W., the premises at 1200, 1202 and 1204 Wisconsin avenue N.W. and at 3207 M street N.W. from the Potomac Savings Bank. As receiver for the Northeast Savings Bank. Mr. Wardell advised the court the Hamilton National Bank has offered $75,000 for the one-story bank building at 800 H street N.E., together with the vaults and other fixtures. Mr. Wardell said the controller of the currency authorized him to petition the court for the order.