1886. American National Bank (Washington, DC)

View Charter #6716 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
6716
Charter Number
6716
Start Date
February 29, 1908
Location
Washington, District of Columbia (38.895, -77.036)

Metadata

Model
gpt-5-mini
Short Digest
db8e3378

Response Measures

None

Description

Articles from Feb–Jul 1908 show receivers appointed for American National Bank (rule/receiver Feb 12 listing; receivers appointed Feb 29) and by July 1908 the receiver's report was ratified and distribution of funds ordered. No article describes a depositor run or reopening; the bank was in receivership and funds distributed, consistent with permanent closure. Cause of suspension not specified in the articles, so coded as 'other'. Later (1933–1936) articles discuss other banks or later district-wide receiverships and dividends but do not indicate reopening of this bank.

Events (4)
1. April 9, 1903 Chartered
Source
historical_nic
2. February 29, 1908 Receivership
Newspaper Excerpt
American National Bank agt. Dougherty; B. S. Minor and Stuart McNamara appointed receivers; bond, $1,000 complainant's solicitors, Berry & Minor; defendant's solicitor, Stuart McNamara.
Source
newspapers
3. February 29, 1908 Suspension
Cause Details
Court-ordered receivership for litigation (plaintiff American National Bank v. Dougherty); articles do not specify insolvency cause or contagion or rumor.
Newspaper Excerpt
American National Bank vs. Dougherty; receiver appointed; bond, $1,000. Attorneys, Berry & Minor-Stuart McNamara.
Source
newspapers
4. July 16, 1908 Other
Newspaper Excerpt
American National Bank vs. Dougherty; receiver's report ratified and distribution of funds ordered. Complainant's solicitors, Berry & Minor; defendant's solicitor, Stuart McNamara.
Source
newspapers

Newspaper Articles (11)
1. February 12, 1908 Evening Star Washington, DC
Article from Evening Star, February 12, 1908

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Article Text

District Supreme Court. EQUITY COURT NO. 1-Chief Justice Clabaugh. Demonet agt. Demonet; reference to auditor; complainant's solicitor. M. J. Colbert; defendant's solicitor. A. A. Hoehling. Moebs agt. Brennan: Charles F. Diggs appointed receiver; bond. $4,000; complainant's solicitor, C. F. Diggs. Prall agt. Prall; reference to auditor; complainant's solicitors, Gittings & Chamberlin; defendant's solicitor, A. A. Hoehling. Rupprecht agt. McNamara: sale decreed with Henry E. Davis and Henry F. Woodard trustees to sell; bond, $2,000; complainant's "solicitors. Birney & Woodard; defendant's solicitor, H. E. Davis. In re assignment of Edwin S. Clark; assignee authorized to sell assets at auction: petitioner's solicitors, Birney & Woodard. EQUITY COURT NO. 2-Justice Gould. Lehman agt. O'Connor: guardian ad litem appointed: complainant's solicitor, John Ridout; defendant's solicitor, R. P. Shealey. Lycett agt. Lycett: sale decreed with W. M. Lewin, trustee, to sell: bond. $2,500: complainant's solicitor. W. M. Lewin; defendant's solicitor. J. H. Taylor. Cruttenden agt. Cruttenden: supplemental report of auditor confirmed. Lindsley agt. Forrest: substitution of trustee ordered: complainant's solicitors, E. Forrest and C. Bendheim. Johnson agt. Chapman: trustee authorized to collect certain rents: complainant's solicitor. M. T. Clinkscales: defendant's solicitors, Irving Williamson and J. F. Bundy. Loeffler agt. Loeffler: divorce a vin. mat. granted: complainant's solicitors. Wolf & Rosenberg: defendant's solicitors. C. Carrington and S. D. Truitt. Johnson agt. Elkins: bill dismissed: complainant's solicitor. Hayden Johnson: defendant's solicitor. William Frye White. American National Bank agt. Dougherty: rule as to receiver returnable February 21, 1908; complainant's solicitors, Berry & Minor. Russell agt. Deland: rule as to receiver returnable February 14; complainant's solicitor. Leon Tobriner. Riggs National Bank agt. Jaselli; hearing on rule continued and leave to file supplemental bill granted: complainant's solicitors, R. Ross Perry & Son: defendant's solicitor. H. Winship Wheatley. Davis agt. Davis: argued and submitted: complainant's solicitor, G. L. Whitford; defendant's solicitor. J. E. Taylor. CIRCUIT COURT NO. 1.-Justice Wright. Ruess agt. Washington, Alexandria and Mount Vernon Railway Company: verdict for plaintiff for $950; plaintiff's attorneys. W. G. Gardner and E. N. Hopewell: defendant's attorney. A. A. Hoehling, jr. Washington agt. Reavis & Reavis Sheet Metal Company: judgment on verdict (3 cases): plaintiff's attorney, L. J. Mather: defendant's attorneys. R. Ross Perry & Son, and Brandenburg & Brandenburg. Lewis Johnson & Co. agt. Wilder & Co.: judgment by default: plaintiff's attorney. T. Percy Myers. Goodman agt. Swan: motion to vacate judgment against John P. Swan: plaintiff's attorney, H. G. Kimball; defendant's attorney, Mr. Sullivan. Fritsch agt. Prali: motion for leave to withdraw joinder in issue and to file a general demurrer granted: plaintiff's attorneys, Gillin & Winfield; defendant's attorneys. Gittings & Chamberlin. Catholic University of America agt. Waggaman: on trial: plaintiff's attorneys, Hamilton. Colbert. Yerkes & Hamilton: defendant's attorneys, John Selden and Holmes Conrad. Harman agt. Riggs National Bank: certified to Circuit Court No. 2: plaintiff's attorneys. Cole & Donaldson; defendant's attorneys. R. Ross Perry & Son. Jennings agt. Philadelphia, Baltimore and Washington Railroad Company: bill of exceptions signed and filed: plaintiff's attorneys, E. H. Jackson and H. E. Davis; defendant's atorneys. McKenney & Flan. nery. CIRCUIT COURT NO. 2-Justice Anderson. Hoover & Denham agt. Seaboard Air Line Railway Company: judgment entered February 10 vacated and judgment under seventy-third rule for plaintiff for $4,540.17: plaintiff's attorneys, Birney & Woodard: defendant's attorneys, Herbert & Micou. Michael agt. Hugo: judgment by default for $1,204.82; plaintiff's attorney, E. L. Gies. Walker agt. Elite Laundry Company;

2. February 13, 1908 The Washington Herald Washington, DC
Article from The Washington Herald, February 13, 1908

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Equity Court No. 2. # JUSTICE GOULD. No. 21940. Lehman vs. O'Connor; guardian ad litem appointed. Attorneys, John Ridout-R. P. Shealey. No. 27455. Lycett vs. Lycett; decree for sale and trustees appointed; bond, $2,500. Attorneys, W. M. Lewin-J. H. Taylor. No. 9932. Cruttenden vs. Cruttenden; supplemental report of auditor confirmed. Attorneys, Mahlon Ashford and J. M. Johnston. No. 27607, Lindsley vs. Forrest; substitute trustee appointed. Attorneys, Edwin Forrest and Charles Bendheim. No. 27486. Johnson vs. Chapman; trustee authorized to collect certain rents. Attorneys, M. T. Clinkscales-Irving Williamson and J. F. Bundy. No. 26657. Loeffler vs. Loeffler; divorce decreed. Attorneys, Wolf & Rosenberg-Campbell Carrington. No. 11328. Johnson vs. Elkins; bill dismissed. No. 27601 American National Bank vs. Dougherty; rule as to receiver returnable February 21, 1908. Attorneys, C. F. Diggs-G. W. Drew. No. 26928. Moulden vs. Moulden; divorce granted. Attorneys, R. E. Mattingly-F. E. Mitchell. Assignments for to-day: No. 42. Dugan vs. Houghton. Attorneys, Rosa F. Downing and George F. Berry-William E. Ambrose and Daish. No. 68. Boyd vs. Camp. Attorneys, William F. Mattingly, John B. Larner, and R. R. Perry & Son-William E. Ambrose. No. 160. Taylor vs. Chesapeake Beach Railway Company et al. Attorneys, A. S. Worthington and Clark Keech-Fulton Lewis. No. 162. Brooks vs. Davis. Attorney F. H. Stephens. No. 164. White vs. White. Attorneys, Hughes & Gray-A. Coulter Wells. No. 166. Reinberg vs. Reinberg. Attorneys, L. V. Dodge-Campbell Carrington.

3. February 29, 1908 The Washington Herald Washington, DC
Article from The Washington Herald, February 29, 1908

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Article Text

Equity Court. No. 1. CHIEF JUSTICE CLABAUGH No. 27556. Roberson vs. Roberson: original petitien amended. Attorneys, F. H. Patterson-P. W. Fusby. No. 27270. Washington Loan and Trust Company vs. Wigfield; decree of February 5. 1908, amended. Attorney, J. B. Larner. No. 27354. Chapman et al. vs. Howard et al.: time limited to take testimony. Attorneys, R. P. Evans-E. H. Thomas and D. W. Baker. No. 27025. Tucker vs. Tucker et al.: order to recall witnesses and examine separately. Attorneys, C. H. Hemans and J. L. Pugh-J. L. Neill and S. M. King. No. 26859. Stewart es. Stewart et al.: bill dismissed and counsel fee ordered paid. Attorneys. Campbell Carrington-J. H. Witson, jr., and F. E. Pratt. No. 27579. Lewis vs. Lewis: reference to examiner and time limited to take testimony. Attorneys, H. H. Hollander-J. E. Laskey. No. 27568. Frost vs. Frost et al.: order permitting withdrawal of Fulton Leuers às solicitor for complainant. Attorneys, J. M. Brown and J. J. McMahon-Lecker. Fulton & Cox and Edwin Forrest. No assignment for to-day. Equity Court No. 2. JUSTICE GOULD No. 26989. Merillat vs. Hensey; bill dismissed; apDeal noted. Attorneys, €. H. Merillat and M. N. Richardson-Birney & Woodard. No. 25245. Bottineau vs. O'Grady; time to take testimony limited. Attorneys, Ralston & SiddonsD. W. Baker, W. H. Robeson, and S. A. Putnam. No. 27557. Haupt vs. Taft: rule discharged; bill dismissed: appeal noted. Attorneys, Benjamin Carter and O. H. Dowell-D. W. Baker. No. 22575. Stewart vs. Stewart: trustee instructed. Attorneys, Fulton Lewis-Ralston & Siddons and Birney & Woodard. No. 27620. Records vs. O'Brien: leave to sell personal property granted Attorney, A. H. Bell. No. 27587. Kiesecker vs. Kiesecker; receiver appointed; bond, $500. Attorneys, R. L. MontagueCrandal Mackey, No. 24558. Woodbury vs. Woodbury: leave to withdraw certain exhibit granted; time to take testimony limited; commission ordered to issue. Attorneys, Wilson & Barksdale-J. S. McDonough. No. 25974. Boyd vs. Camp; demurrer sustained. Attorneys, W. F. Mattingly, R. R. Perry & Son, and J. B. Larner-W. E. Ambrose. No. 27651. Anderson vs. Danenhower; substitution of trustee ordered. Attorneys, J. B. Archer and J. L. Smith. No. 27611. American National Bank vs. Dougherty receiver appointed; bond, $1,000. Attorneys, Berry & Minor-Stuart McNamara. No assignments for to-day.

4. February 29, 1908 Evening Star Washington, DC
Article from Evening Star, February 29, 1908

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District Supreme Court. EQUITY COURT NO. 2-Justice Gould. Records agt. O'Brien; leave to sell personal property; complainant's solicitor, Alex. H. Bell. Kieseeker agt. Kiesecker; R. L. Montague appointed receiver; bond, $500; complainant's solicitor, R. L. Montague; defendant's solicitor, Crandal Mackey. Woodbury agt. Woodbury; leave to withdraw certain exhibit granted: time to take testimony limited, and commission. ordered to issue; complainant's solicitor, Malcolm Hufty; defendant's solicitors, McNeill 5/8 McNeill and C. C. Hackett. Boyd agt. Camp; demurrer sustained; complainant's socilitors, W. F. Mattingly, R. Ross Perry & Son and J. B. Larner; defendant's solicitor, W. E. Ambrose. Anderson agt. Danenhower; substitution of trustees ordered; complainant's solicitors. Archer & Smith. American National Bank agt. Dougherty; B. S. Minor and Stuart McNamara appointed receivers; bond, $1,000 complainant's solicitors, Berry & Minor; defendant's solicitor, Stuart McNamara. Dulany agt. Waggaman: auditor's report ratified (by Justice Wright); complainant's solicitors, Maddox & Gatley: defendant's solicitors, R. Ross Perry & Son. CIRCUIT COURT NO. 2-Justice Anderson. Davis agt. Western Union Telegraph Company; leave to file amended declaration; plaintiff's attorney, Crandal Mackey; defendant's attorneys, McKenney & Flannery and J. J. Darlington. Rucker agt. Lockwood; motion for new trial filed; plaintiff's attorneys, Charles Poe and S. A. Putman; defendant's attorneys, W. H. Robeson and C. A. Keigwin. Lincoln National Bank agt. Cissell: motion for new trial filed: plaintiff's attorneys, M. J. Colbert and W. W. Millan; defendant's attorney, A. A. Hoehling. CRIMINAL COURT NO. 1-Justice Stafford. United States agt. Ned W. Barton, Henry E. Everding and John A. Heany; violating section 5403 Revised Statutes United States; bench warrant returned cepi; recognizance $10,000 each taken, with the Title Guaranty and Surety Company surety. United States agt. Harry Wimsatt, conspiracy bench warrant returned cepi and defendant committed to jail. United States agt. Samuel W. E. Love; embezzlement: bail fixed at $1,000, recognizance taken, with W. W. Stewart surety; attorney, W. P. Plumley. PRORATE COURT Justice Could

5. July 16, 1908 The Washington Times Washington, DC
Article from The Washington Times, July 16, 1908

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COURT RECORD OF THE DISTRICT DISTRICT SUPREME COURT. Equity Court, No. I. JUSTICE WRIGHT. (Called today.) No. 27834. Washington Brewery Company et al. vs. McInerney; sale by receivers authorized. Complainants' selicitors, Birney & Woodard, Alex. H. Bell and Joseph A., Burkhart. No. 27577. McAllister et al. vs. Brooke et al.; auditor's report confirmed. Complainant's solicitors, Tucker & Kenyon; defendant's solicitors, David N. Houston and'A. G. Brooke. No. 27909. Chester vs. Simpson et al.; substitution of trustee ordered. Complainant's solicitor, J. C. Heald. No. 26443. Wallace vs. Wallace; rule to show cause returnable July 22, 1908. Complainant's solicitors, Hughes & Gray. No. 27932. Holst vs. Ashford et al.; order removing E. Welch Ashford as trustee and substituting Charles P. Stone. Complainant's solicitor, H. J. May; defendant's solicitor, Charles G. Allen. No. 26568. Corby vs. Corby: order releasing defendant from custody. Complainant's solicitor, G. A. Kuha; defendant's solicitor, Charles Poe. No. 27845. Ball vs. First Co-operative Building Association; order continuing hearing on rule. Receivers' solicitor, J. S. Easby-Smith. No. 27559. Herring VS. Herring; decree a vin. mat. granted. Complainant's solicitor, C. Carrington; defendant's solicitors, Carl J. Graf and Fountain Peyton. No. 27611. American National Bank vs. Dougherty; receiver's report ratified and distribution of funds ordered. Complainant's solicitors, Berry & Minor; defendant's solicitor, Stuart McNamara. No. 27819. Turnburke vs. Koblin; motion to set aside order of July 8, 1908, overruled. Complainant's solicitor, W. G. Gardiner; defendant's solicitors, Wolf & Rosenberg.

6. July 16, 1908 Evening Star Washington, DC
Article from Evening Star, July 16, 1908

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THE COURT RECORD. District Supreme Court. EQUITY COURT NO. 1-Justice Wright. Washington Brewery Company agt. McInerney; sale by receivers authorized: complainant's' solicitors, Birney &. Woodard: intervener's solicitors, A. H. Bell and J. A. Burkart. McAllister agt. Brooke: auditor's report confirmed; complainant's solicitors, Tucker & Kenyon: defendant's solicitors, D. N. Huston and A. G. Brooke. Chester agt. Simpson: substitution of trustee; complainant's solicitor, J. C. Heald. Wallace agt. Wallace: rule to show cause returnable July 22; complainant's solicitors, Hughes & Gray. Holst agt. Ashford: Charles P. Stone substituted as trustee; complainant's solicitor, H. J. May; defendant's solicitor, C. G. Allen. Corby agt. Corby; order releasing defendant from custody: complainant's solicitor, G. A. Kuhn; defendant's solicitor, Charles Poe. Ball agt. First Co-operative Building Association; order continuing hearing on rule. Herring agt. Herring: divorce a vin. mat. granted: complainant's solicitors, C. Carrington and S. D. Truitt; defendant's solicitor. Fountain Peyton. American National Bank agt. Dougherty; receiver's report ratified and distribution of fund ordered: complainant's solicitors, Berry & Minor: defendant's solicitor, Stuart McNamara. Turnburke agt. Koblin: motion to set aside order of July 8 overruled; complainant's solicitor, W. G. Gardiner; defendant's solicitors, Wolf & Rosenberg. CRIMINAL COURT NO. 1 - Justice Wright. United States agt. Edward Leon Thompson, abortion; order extending time for settling bill of exceptions; attorney, T. C. Taylor. United States agt. Georgianna C. Edelin, bigamy; recognizance $500 taken, with John A. Lankford surety. BANKRUPTCY COURT-Justice Wright. In re Columbia Laundry Company; refund of deposit ordered. In re Harvard Laundry Company; rule on alleged bankrupt returnable July 30. CIRCUIT COURT NO. 1-Justice Wright. Columbia Marble Quarry Company agt. Dunn: order to return deposit for costs to the plaintiff. PROBATE COURT-Justice Wright. Estate of Theodore Hodes: will dated August 6, 1907, filed. In re Mary Blackwell et al.: order appointing Carrie Blackwell guardian; bond, $250: attorneys, Lyon & Lyon. Estate of Lemuel Stoneking: letters of administration granted to Cynthia A. Stoneking: bond, $100; attorney, J. Dawson V illiams. Estate of Louise Novel: will admitted to probate and letters testamentary granted to Leondie Delarue: bond, $2,500; attorneys, Hamilton, Colbert, Yerkes & Hamilton. Estate of Samuel J. Butterfield: order for sale of stock; attorney, Fred B. Rhodes. Estate of Sue Virginia Field: petition for letters of administration d.b.n.c.t.a. filed; attorney, J. B. Linton. In re Irene E. Ballard et al.: order appointing Lula Ballard guardian; hond. $3,000; attorneys, R. L. Montague and J. A. Moriarty. Estate of Henry Kengla: order to sell stock: attorneys, W. K. Quinter and M. J. Colbert.

7. July 17, 1908 The Washington Herald Washington, DC
Article from The Washington Herald, July 17, 1908

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Equity Court No. 1. JUSTICE WRIGHT. No. 27834. Washington Brewery Company et al. vs. McInerney: sale by receivers authorized. Attorneys, Birpey & Woodard-A. H. Bell and J. A. Burkart, No. 27577-McAllister et al. vs. Brooke et al.; auditors' report confirmed. Attorneys, Tucker & Kenyon-D. N. Houston and R. G. Brook. No. 27909. Chester vs. Simpson et al.; substitute trustee. Attorney J. C. Heald. No. 26443. Wallace vs. Wallace; rule to show cause. Attorneys, Hughes & Geary. No. 27932 Halit vs. Ashford et al.; order removing E. W. Ashford as trustee and appointing C. P. Stone substitute. Attorneys, H. J. May-C. G. Allen. No. 26568. Corby vs. Corby: order releasing dofendant from custody. Attorneys-G. A. KuhnCharles Pee. No. 27845. Bull vs. First Co-operative Building Association: order continuing hearing on rule. Attorneys, W. J. Lambert, Burton Macafee, R H. Yeatman, Stuart McNamara and R. S. Huidekopfer-J. L. Smith and J. S. Easby-Smith. No. 27559. Herring vs. Herring: decree a vin, mat. granted. Attorneys, Campbell Carrington and L. D. Truitt-Fountain Peyton. No. 27611. American National Bank vs. Daugherty; receiver's report ratified and distribution of fund ordered. Attorneys, Berry & Minor-Stuart McNamara. No. 27819. Turnburke vs. Kohlin; motion to set aside order of July 8. 1908, overruled. Attorneys, W. G. Gardiner-Wolf & Rosenberg.

8. March 21, 1933 The Washington Times Washington, DC
Article from The Washington Times, March 21, 1933

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SEEK TO LEARN WHAT INQUIRY HAS SHOWN Amount of Shortage Remains Unknown; Col. Cooper Seeks Commercial's Records Directors of the Park Savings Bank will meet this week in an attempt to learn exactly what the conditions of the closed institution are, it was learned today. The directors will ask that the conservator who was placed in the bank a week ago today, a few hours after the suicide of Robert S. Stunz, vice president, meet with them and tell them what facts have been revealed about the alleged shortage ir accounts of the bank. This shortage, which is said to be may exat $1,000,000, least $200,000 and revealed ceed was in written by "To left two Whom notes It May Concern" Stunz and in his desk in the bank. Officials Exonerated These notes exonerated any of the present officers and directors of the institution from knowledge of the shortage. It was the discovery of the notes that led to of the placing of Deparment Justice accountants in the bank to determine the extent of the shortage. George E. Walker, chairman of the board of the bank, said to day: "I have been asked to call a meeting of th: board and ask the conservator to attend and tell us what has been developed, as we are as much in the dark as anyone. "From the notes Mr. Stunz left we believe there is a shortbut we know nothing of When we we be its age, condition extent. of affairs, learn will the in a position to start making plans for reopening the bank." Cooper Seeks Records Col. Wade H. Cooper, presiacdent Bank, of planned the Commercial today to National seek cess to the records of that institution to aid in his plans for of the bank which in the a reorganization was placed hands of receiver last month that it a The is necessary president that pointed he obtain out list of committee complete naming a depositors .to So before assist far in the reorganization. he has been refused permission to see the bank records. a night John voiced Dwyer, protest attorney, against out- last the reorganization plan as lined by Colonel Cooper, asserting that vital points in the plan were the not explained and represented. that depositors were not Two Expert Licenses Officials of two national banks not rea week ago which open were licensed today, to the Ameron reican, Franklin are and busy the Federal plans and for it sumption of business, was that be may expected granted these licenses two within banks the next few days. Joshua Evans, jr., president of said that the District as yet National plans for Bank, reopening that institution have not jeen completed. Mr. Evans said his bank is still awaiting from the Treasury further Department instructions before a decision will be made as to reorganization or consolidation.

9. November 1, 1933 The Tampa Times Tampa, FL
Article from The Tampa Times, November 1, 1933

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HARDEE NAMED BANK RECEIVER m Florida Governor Gets Federal Post at Washington Washington, Nov. 1.-(AP)comptroller of the announced today that Cary Hardee, former governor of Florida, and Norman R. Hamilton, Virginia publisher, had receivers liquidate eight District of Columbia banks now operated by conservaThe comptroller explained the move designed to hasten payment of dividends to depositors from assets remaining other District banks took over of the business of the banks be liquidated. The eight local institutions are the American National Bank, the Chevy Chase Savings Bank, the District National Bank, the Northeast Savings Bank, the Seventh Street Savings Bank, the Washington Savings Bank, the Woodridge Langdon Savings and Commercial Bank and the PotoSavings Bank. Hardee was governor of Florida from 1921 to 1925. He has interested in banking since 1902, when he served as director, vice president and president of this bank. Still an interest in this he president of the Commercial Bank of Live Oak. Hamilton, publisher of the Portsmouth Star, was born and reared in Virginia. For several years he has been director of bank Norfolk, now director of the Mutual Building there 1913 to 1922 collector of customs at News, representing both the treasury and state departments enforcing laws Virginia waters. In this position he was virtually the head of annual income of approximately Under testative plans, the FedAmerican and the Chevy Chase Savings Banks will be charge of Hardee; while Hamilton take charge of the District Northeast Savings, Street Savings, Washing ton Woodridge- Langdon and the Potomac Savings Banks. Hardee assumed his duties today. but Hamilton was not pected in until Nov. Comptroller O'Connor said the appointment of two receivers instead of eight was to minimize expense.

10. March 26, 1934 The Washington Times Washington, DC
Article from The Washington Times, March 26, 1934

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DISTRICT TRADE IMPROVEMENT GENERAL Bank Deposits Up, Insurance Writings Climb, While Shop Sales Rise By DUNBAR HARE The financial picture in Washington took on a brighter hue last week, with indications that the District is nearer normalcy than it has been at any time since before the banking holiday. During the past week, the bank condition call of the comptroller of the currency showed that local bank deposits had jumped $23,000,000 since the last call on December 30. This represented the difference between $222,000,000 in deposits of December 30 and $245,000, of as 000 as of March 5. the date the most recent call. $2,000,000 in Insurance Another indication of prosper- inis the fact that new life $2.surance ity totaling more than dur000,000 was written last week ing "Financial Independence Week." E. McCombs, chairman of a J. committee of the District Assospecial Columbia Underwriters' of said these figures com- inciation, with a total of $1,300,000 unpare written by local life surance derwriters during the corresponding week of 1933. Also during the past week, sevbankers reported that many that merchants eral had asserted was their business during March was 30 per cent better than it March of last year. generally during Bankers in financial all of Washington's 21 open despite institutions are optimistic, securpessimistic attitude of These the and stock brokers. of latter ity blame the sluggishness securities business on the strike their act and on the current agitation. Deposits May Be Freed Conditions in Washington's imbanks also showed provement closed during the past hundreds week, indications that will be with thousands of dollars future of released within the near has depositors whose money to frozen since the banking holiday been and, in some instances, before. Marked progress was made afthe week in whipping Naduring of the closed Franklin The fairs Bank into shape. is to merge Washington tional Franklin unrestricted with and Me- the the chanics Savings Bank which Vernon Savings Bank, part of Mt. opened its doors as a three-way combine, paying dethe out $800,000 among 30,000 positors. Clarence F. Burton, president which of Washington Mechanics, Bank of the become The City three-corWashington will after the consummated, merger is that the nered today it was hoped combinasaid Franklin would join the off not and begin paying tion than April 23. Stockholders the later meet April 10, approve features are to and certain other dename merger. After that only of tail the work will remain. Early Release Sought Receivers and conservators remaining who charge of the they are in banks also report that make an closed doing their best to deposiare early release of funds to tors. is particularly true Savings, in the This of the Northeast Street case Savings, Seventh Savings Potomac and Washington stockholders Savings Assessments of and the Bank. these State banks which Woodridge-Lanedocational in all of and the District Bank, with Federal the American National National formed the Hamilton within the Bank, are expected The Hamilton's next few months. of the five option on assets expired last week. naOption banks on in the combine will tional State banks assets year. of the two not expire for a somere

11. November 29, 1936 Evening Star Washington, DC
Article from Evening Star, November 29, 1936

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Disfrom depositors Bank and of both & the Trust the Federal Co. trict cates American National National the District Bank depositors promised offer to the devidend of the The is the same as 25 per cent half of the bank. original by the receiver, deposit, which to the is credit of the amount remaining closed cent depositor in the Per Cent Payment. per Offers 40 offered to pay due 40 deposiThe agent remaining amount -American National of the the Federal- Reports of Receiv- inditors in & Trust Co. for this bank can be er Bank Cary A. Hardee another dividend this divibut it is available until time paid, dend cate that will not be first understood of the new dividends year. bank, same after the depositor receives a closed on When the a receiver of certificate he further When a depositor a piece which from retains paid. his receiver's additional as dividends sells may be to an agent gets the cash of his negotiable certificate paper, but relinquishes he The further agent rights price offered, the to future receivers' dividends. future certificate dividends and may will of collect become owns whatever available. receiver The certificates. practice of has the in here Washington prevailed country, purchasing but in some it came other for into the parts the first open time last week. 12,Bank, In the District already National have which received up to 000 depositors of 50 1936. per cent, has been according paid in to September the dividends sum of quarterly 30. 7,100.91, report of per the cent, rethe last The dividend of weeks. 25 will be paid in this ceiver. to from about two institution. and will be is the second deposits. Thus, based on original $1,250,000. paid, the amount to about dividend is total of 75 cent per the depositor when the will second of have his received original a money in Deposit bank. Liability unsecured $4,841,414.78. deposit the liabil- time The of the total District March. bank at 1933. stood the ity closed, in addition to at the $4,841,414.78. bank cent paid to In unsecured has paid depos- cut 50 per receivership of $2,509,on itors, secured the liabilities a total District have 082.75. Stockholders their of assessment the of $1,000,000, paid a in total on case of of $574,378.54. the Northeast received Savings three In the depositors h2d per cent, which had dividends Bank to September totaling 30 85 The of this new year total 10 per up cent up $903,498.44 will bring the 95 per cent. bank at date totaled to dividend this The total stood unsecured of its at deposits of business hands suspension of in the the total will be $1,148,596.28. not dividends of in the yet new receiver been are dividend amount 2,351 called Left from checks over for of the in about by three the which depositors paid $10,000. earlier have to of about of this bank stock assessof The in about Stockholders $42,100 7,000 $250,000. on depositors their total announcing have amount paid $100,000. Wardell in banks exdividends for the at being pressed his distribution new ment Receiver gratification two before have able to make the depositors could shopping. Christmas so for Christmas been staff had to the He said money day he and and his night recently amount of necessary are complete working the enormous so the payment being writ- can work made. Checks now at the Treas- be ten, be ury but Department must be signed before they can distributed. Exact Time Is fact Uncertain. that several view of the throughout the other In closed also are banks trying to pay is some divicountry before Christmas, exact there time the dends as to the on the uncertainty will finish signatures to be paid than 19,000 For this out by the cannot the more Treasury two Wardell banks. checks yet rea- will fix son Receiver exact date when payments Depositors card will when be to call for will their be by Groups of to avoid checks. begin. post depositors so notified as directly a invited day by day, first few days. during the night that promised last receivership facility full every be thrown into checks as early rush would Wardell of the the speed for- acward to get out with absolute enis consistent tribute to the as He paid and of the P. National curacy. mentioned tire staff especially the receivership. District R. Lochte, officer trust officer of H. Johnson, trust of Bank, the and Northeast L. Savings Bank.