2036. Industrial Savings Bank (Washington, DC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
July 29, 1939
Location
Washington, District of Columbia (38.895, -77.036)

Metadata

Model
gpt-5-mini
Short Digest
ed8b1372

Response Measures

None

Description

All articles describe the Industrial Savings Bank as being in receivership with a court-appointed receiver (Frederick J. Young), sales of assets, and unproven claims. There is no article text describing a depositor run prior to suspension or any reopening — the bank appears closed and in receivership. I classify this as a suspension followed by permanent closure (receivership). 'State' chosen because it's a savings bank (likely state-chartered); no explicit 'National' or 'Trust' in name.

Events (4)
1. July 29, 1939 Receivership
Newspaper Excerpt
The Industrial Savings Bank has no undelivered checks, Mr. Young reports, but has unproven claims totalling $114,500.
Source
newspapers
2. November 15, 1939 Other
Newspaper Excerpt
Frederick J. Young, receiver of the Industrial Savings Bank, will sell at public sale on WEDNESDAY, NOVEMBER 15, 1939 ... five shares of National City Bank stock ... FREDERICK J. YOUNG, Receiver of the Industrial Savings Bank.
Source
newspapers
3. August 26, 1940 Other
Newspaper Excerpt
Frederick J. Young, acting in the capacity of receiver for the United States Savings Bank and the Industrial Savings Bank, yesterday bought at a foreclosure sale a building at 918-20-22 U street N.W. from the Murray Bros. Printing Co. for $27,500.
Source
newspapers
4. September 4, 1940 Other
Newspaper Excerpt
ORDER NISI FOR SALE OF REAL PROPERTY. Upon consideration of the petition of Frederick J. Young, Receiver of the Industrial Savings Bank, filed herein on the 4th day of September, 1940, it is by the Court this 4th day of September, 1940, ORDERED: ... be and he is hereby authorized to convey ... the improved real property located at 918-920-922 U street N.W.
Source
newspapers

Newspaper Articles (10)
1. July 29, 1939 Evening Star Washington, DC
Article from Evening Star, July 29, 1939

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Article Text

$60,000. These have been made out to persons who had proven their claims. The Commercial National Bank, for which the receivership office is also at 1336 New York avenue, has unproven claims amounting to $206,000, and 2,111 undelivered checks amounting to about $26,000. It has paid 70 per cent. The four other bank receiverships under supervision of Mr. Young are located at the site of the closed United States Savings Bank at Fourteenth and U streets. Paid 100 Per Cent. The United States Savings Bank, which has paid 100 per cent has $50,846 of unproven claims, and undelivered dividend checks amounting to $7,996. The Bank of Brightwood, which has paid 62 1/2 per cent, has unproven claims of $41,500, and undelivered checks amounting to $6,986. The International Exchange Bank, which has paid 45 per cent, has unproven claims amounting to $17,000 and undelivered dividend checks worth $7,500. The Industrial Savings Bank has no undelivered checks, Mr. Young reports, but has unproven claims totalling $114,500.

2. July 29, 1939 Evening Star Washington, DC
Article from Evening Star, July 29, 1939

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Article Text

$600,000Unclaimed,Receiver Opens Drive to Find Owners Half Million in Deposits, More in Dividends Await Depositors of Six Closed Banks Frederick J. Young, receiver for $60,000. These have been made out six Washington banks, has started a to persons who had proven their claims. campaign to find the depositors who own more than half a million The Commercial National Bank, dollars worth of "unproven claims," for which the receivership office is and about $100,000 in unclaimed dialso at 1336 New York avenue, has vidend checks, ready to be cashed. unproven claims amounting to Letters are being sent out to de$206,000, and 2,111 undelivered positors listed as owners of the checks amounting to about $26,000. money, at their last address, and It has paid 70 per cent. a representative of the receiver is The four other bank receiverships working out of the receiver's office under supervision of Mr. Young are in an endeavor personally to find located at the site of the closed missing depositors who cannot be United States Savings Bank at located by mail. Fourteenth and U streets. Receivers of closed banks, accordPaid 100 Per Cent. ing to the official records of the Government, consistently have diffiThe United States Savings Bank, culty in getting creditors to call which has paid 100 per cent has for the last funds left in a receiver$50,846 of unproven claims, and unship. delivered dividend checks amount$160,000 in One Bank. ing to $7,996. Mr. Young said the Federal The Bank of Brightwood, which American National Bank and Trust has paid 62 1/2 per cent, has unproven Co., for which the receivership office claims of $41,500, and undelivered is located at 1336 New York avenue checks amounting to $6,986. N.W., has paid 75 per cent dividends The International Exchange Bank, to depositors and has $160,000 unwhich has paid 45 per cent, has proven claims for which no one has unproven claims amounting to called to prove ownership. Persons $17,000 and undelivered dividend who can prove claim to their part checks worth $7,500. of this fund will receive dividends totalling 75 per cent of the claim. The Industrial Savings Bank has In addition there are about 5,000 no undelivered checks, Mr. Young dividend checks in this bank, unreports, but has unproven claims totalling $114,500. called for, amounting to about

3. November 5, 1939 Evening Star Washington, DC
Article from Evening Star, November 5, 1939

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Article Text

AUCTION SALES. FUTURE NOTICE OF SALE. Notice is hereby given that the undersigned. Frederick J. Young. receiver of the Industrial Savings Bank. will sell at public sale on WEDNESDAY. NOVEMBER 15. 1939. AT ELEVEN O'CLOCK A.M., at the office of the receiver, 1336 New York avenue northwest. fire shares of National City Bank stock, registered in the name of Clarence S. Baker. dated October 19. 1931. Certificate No. F-257453. Said shares of stock have been pledged with said Industrial Savings Bank to cover a loan to Edward A. Baker. FREDERICK J. YOUNG. Receiver of the Industrial Savings Bank.

4. August 27, 1940 Evening Star Washington, DC
Article from Evening Star, August 27, 1940

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Article Text

Bank Receiver Buys U Street Building Frederick J. Young, acting in the capacity of receiver for the United States Savings Bank and the Industrial Savings Bank, yesterday bought at a foreclosure sale a building at 918-20-22 U street N.W. from the Murray Bros. Printing Co. for $27,500. The structure was sold under foreclosure by Receiver Young. acting for the two closed banks which held a joint first trust on the property. The building houses the Murray Casino, a large auditorium on the second floor, two stores and a printing plant on the first floor. Maurice Murray of the printing firm announced afterward that the company would continue in business and would continue to print the Washington Tribune, large weekly paper for colored persons, which is published by the Capital News Service, Inc.

5. September 6, 1940 Evening Star Washington, DC
Article from Evening Star, September 6, 1940

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Article Text

IN THE DISTRICT COURT OF THE United States for the District of Columbia.-EDITH I. LUSBY. 745 10th st. s.e.. Washington. D. C., Plaintiff. vs. the Unknown heirs. devisees. and alienees of: ROBERT M. DESHA. Defendants.-Civil Action No. 7701.-ORDER OF PUBLICATION.-The object of this suit is to establish of record the title of the plaintiff to part of lot 27 in square 950. also known for taxation purposes as lot 842 in square 950. said lot being improved by premises 745 10th Street. S.E.. Washington. D. C. On motion of the plaintiff it is this 22nd day of August, 1940. ordered that the defendants. the unknown heirs. devisees and alienees of Robert M. Desha cause their appearance to be entered herein on or before the first rule day occurring after the expiration of one month after the day of the first publication hereof. otherwise the cause will be proceeded with as in case of default. Provided. a copy of this order be published once a week for three successive weeks in the Washington Law Reporter and The Evening Star. good cause having been shown why longer publication is unnecessary. DAVID A. PINE. Justice. (Seal.) A true copy. Test: CHARLES E. STEWART, Clerk. By H. S. PARK. JR.. Asst. Clerk. au30,se6.13. DISTRICT COURT OF UNITED STATES for District of Columbia.-In re Receivership of INDUSTRIAL SAVINGS BANK.-Special No. 39.-ORDER NISI FOR SALE OF REAL PROPERTY-Upon consideration of the petition of Frederick J. Young, Receiver of the Industrial Savings Bank, filed herein on the 4th day of September. 1940, it is by the Court this 4th day of September. 1940, ORDERED: 1. That Frederick J. Young, Receiver of the Industrial Savings Bank and also as Receiver of the United States Savings Bank, said banks participating as title owners in the following described property in the sums of $5.000 and $22,417. respectively. be and he is hereby authorized to convey by Receiver's or quit-claim' deed to Samuel P. Cohen. or his nominee. for not less than $27.500 cash. the improved real property located at 918-920-922 You Street. Northwest. Washington, D. C., otherwise described as Lots 15, 16 and 17 in W. B. Todd. Executor's and others' subdivision in Square 361, as per plat recorded in Liber R. W., folio 12. of the Records of the office of the Surveyor for the District of Columbia. and that said sale be ratified and confirmed. unless cause be shown to the contrary or objections made. on or before the 2nd day of October. 1940. or unless higher offers in writing and properly guaranteed are received by the Receiver at his office located at 1336 New York Avenue N.W.. prior to twelve o'clock noon on the day preceding the last above mentioned date. 2. A copy of this Order shall be published at least three times prior to the last above mentioned date in the Washington Evening Star Newspaper and once in the Washington Law Reporter. By the Court: JENNINGS BAILEY, Justice. se6,18,25.

6. September 13, 1940 Evening Star Washington, DC
Article from Evening Star, September 13, 1940

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Article Text

KREMER and BINGHAM. 921 Tower Bldg., Wash.. D. C. IN THE DISTRICT COURT OF THE United States for the District of Columbia.-In re: UNITED STATES SAVINGS BANK-MISCEYLANEOUS NO. 40. ORDER NISI FOR SALE OF REAL PROPERTY.-Upon consideration of the petition of Frederick J. Young, Receiver of the United States Savings Bank, filed herein on the 4th day of September. 1940, it is by the Court this 4th day of September. 1940, ORDERED. 1. That Frederick J. Young. as Receiver of said bank and as Receiver of the Industrial Savings Bank, said banks participating as title owners in the following-described property in the sums of $5.000 and $22.417 respectively, be and he hereby is authorized to convey by Receiver's or quit claim deed to Samuel P. Cohen. or his nominee. for not less than $27,500 cash. the improved real property located at 918-920-922 You Street, Northwest. Washington. D. C., otherwise described as lots 15. 16 and 17 in W. B. Todd. Executor. and others' subdivision in Square 361, as per plat recorded in Liber R.W. folio 12 of the Records of the office of the Surveyor for the District of Columbia. and that said sale be ratified and confirmed. unless cause be shown to the contrary or objections made. en or before the 2nd day of October, 1940. or unless higher offers in writing and properly guaranteed are received by the Receiver at his office in the United States Saving Bank at 14th and You Streets N.W., prior to twelve o'clock noon on the day preceding the last above-mentioned date. . That a copy of this order be published at least three times prior tn the last above-mentioned date in the Washington Evening Star Newspaper and once in the Washington Law Reporter. By the Court: JENNINGS BAILEY, Justice. se13.20.27

7. September 18, 1940 Evening Star Washington, DC
Article from Evening Star, September 18, 1940

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LEGAL NOTICES. MICHAEL F. KEOGH. Attorney, 709 Woodward Bldg. Washington, D. C. FILED SEPT 6. 1940. CHARLES E STEWART. Clerk.-In the District Court of the United States for the District of Columbia--RUBY MAE MARTIN. Plaintiff. vs. THOMAS EDWARD MARTIN, Defendant.-Civil Action File No. 6235.-ORDER FOR PUBLICATION-The object of this suit is to obtain an absolute divorce on the grounds of desertion for a period of more than two years prior to the filing of this suit. On Motion of the plaintiff it is this 6th day of September. 1940. ordered that the defendant. Thomas Edward Martin, cause his appearance to be entered herein on or before the fortieth day. exclusive of Sundays and legal holidays. occurring after the day of the first publication of this order: otherwise. the cause will be proceeded with as in case of default Provided. a copy of this order be published once a week for three successive weeks in the Washington Law Reporter and the Washington Evening Star before said day. JENNINGS BAILEY. Justice (Seal.) A true copy Test: CHARLES E STEWART. Clerk. By JULIA W. SHIPLEY. Asst. Clerk. se18.25.oc2 DISTRICT COURT OF UNITED STATES for District of Columbia.-In re Receivership of INDUSTRIAL SAVINGS BANK.-Special No. 39.-ORDER NISI FOR SALE OF REAL PROPERTY.-Upon consideration of the petition of Frederick J. Young, Receiver of the Industrial Savings Bank. filed herein on the 4th day of September. 1940, it is by the Court this 4th day of September. 1940. ORDERED: 1. That Frederick J. Young, Receiver of the Industrial Savings Bank and also as Receiver of the United States Savings Bank. said banks participating as title owners in the following described property in the sums of $5.000 and $22.417. respectively. be and he is hereby authorized to convey by Receiver's or quit-claim deed to Samuel P. Cohen. or his nominee, for not less than $27.500 cash. the improved real property located at 918-920-922 You Street, Northwest. Washington. D. C., otherwise described as Lots 15. 16 and 17 in W. B. Todd. Executor's and others' subdivision in Square 361, as per plat recorded in Liber R. W folio 12. of the Records of the office of the Surveyor for the District of Columbia. and that said sale be ratified and confirmed. unless cause be shown to the contrary or objections made. on or before the 2nd day of October. 1940. or unless higher offers in writing and properly guaranteed are received by the Receiver at his office located at 1336 New York Avenue N.W. prior to twelve o'clock noon on the day preceding the last above mentioned date 2. A copy of this Order shall be published at least three times prior to the last above mentioned date in the Washington Evening Star Newspaper and once in the Washington Law Reporter. By the Court JENNINGS BAILEY, Justice. se6.18.25.

8. September 20, 1940 Evening Star Washington, DC
Article from Evening Star, September 20, 1940

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LEGAL NOTICES. KREMER and BINGHAM. 921 Tower Bldg., Wash., D. C. IN THE DISTRICT COURT OF THE United States for the District of Columbia.- re: UNITED STATES SAVINGS BANK - -MISCELLANEOUS NO 40 ORDER NISI FOR SALE OF REAL PROPERTY-Upon consideration of the petition of Frederick J. Young, Receiver of the United States Savings Bank. filed herein on the 4th day of September 1940. it is by the Court this 4th day of September 1940. ORDERED 1 That Frederick J. Young as Receiver of said bank and as Receiver of the Industrial Savings Bank said banks participating as title owners in the following-described property in the sums of $5.000 and $22.417 respectively. be and he hereby is authorized to convey by Receiver's or quit claim deed to Samuel P. Cohen. or his nominee. for not less than $27,500 cash. the improved real property located at 918-920-922 You Street. Northwest. Washington D. C.. otherwise described as lots 15. 16 and 17 in W. B Todd. Executor and others' subdivision in Square 361, as per plat recorded in Liber R.W. folio 12. of the Records of the office of the Surveyor for the District of Columbia. and that said sale be ratified and confirmed. unless cause be shown to the contrary or objections made. on or before the 2nd day of October. 1940. or unless higher offers in writing and properly guaranteed are received by the Receiver at his office in the United States Saving Bank at 14th and You Streets N.W. prior to twelve o'clock noon on the day preceding the last above-mentioned date. 2. That a copy of this order be published at least three times prior to the last above-mentioned date in the Washington Evening Star Newspaper and once in the Washington Law Reporter By the Court: JENNINGS BAILEY, Justice. se13.20.27

9. September 25, 1940 Evening Star Washington, DC
Article from Evening Star, September 25, 1940

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Article Text

LEGAL NOTICES. MICHAEL F. KEOGH. Attorney, 709 Woodward Bldg., Washington, D. C. FILED SEPT. 6. 1940, CHARLES E STEWART. Clerk.-In the District Court of the United States for the District of Columbia.-RUBY MAE MARTIN. Plaintiff. vs. THOMAS EDWARD MARTIN. Defendant.-Civil Action File No. 6235.-ORDER FOR PUBLICATION.-The object of this suit is to obtain an absolute divorce on the grounds of desertion for a period of more than two years prior to the filing of this suit. On Motion of the plaintiff. it is this 6th day of September. 1940. ordered that the defendant. Thomas Edward Martin, cause his appearance to be entered herein on or before the fortieth day, exclusive of Sundays and legal holidays. occurring after the day of the first publication of this order; otherwise. the cause will be proceeded with as in case of default Provided. a copy of this order be published once a week for three successive weeks in the Washington Law Reporter and the Washington Evening Star before said day. JENNINGS BAILEY. Justice. (Seal.) A true copy. Test: CHARLES E STEWART. Clerk. By JULIA W. SHIPLEY, Asst. Clerk. se18.25.oc2 DISTRICT COURT OF UNITED STATES for District of Columbia.-In re Receivership of INDUSTRIAL SAVINGS BANK.-Special No. 39.-ORDER NISI FOR SALE OF REAL PROPERTY.-Upon consideration of the petition of Frederick J. Young, Receiver of the Industrial Savings Bank. filed herein on the 4th day of September, 1940. it is by the Court this 4th day of September, 1940, ORDERED: 1. That Frederick J. Young, Receiver of the Industrial Savings Bank and also as Receiver of the United States Savings Bank. said banks participating as title owners in the following described property in the sums of $5.000 and $22.417. respectively, be and he is hereby authorized to convey by Receiver's or quit-claim deed to Samuel P. Cohen. or his nominee. for not less than $27.500 cash. the improved real property located at 918-920-922 You Street, Northwest. Washington. D. C., otherwise described as Lots 15. 16 and 17 in W. B. Todd. Executor's and others' subdivision in Square 361, as per plat recorded in Liber R. W folio 12. of the Records of the office of the Surveyor for the District of Columbia. and that said sale be ratified and confirmed. unless cause be shown to the contrary or objections made. on or before the 2nd day of October. 1940, or unless higher offers in writing and properly guaranteed are received by the Receiver at his office located at 1336 New York Avenue N.W. prior to twelve o'clock noon on the day preceding the last above mentioned date. 2. A copy of this Order shall be published at least three times prior to the last above mentioned date in the Washington Evening Star Newspaper and once in the Washington Law Reporter. By the Court JENNINGS BAILEY, Justice. se6.18.25.

10. September 27, 1940 Evening Star Washington, DC
Article from Evening Star, September 27, 1940

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MONEY WANTED. LOAN OF $1.800 AS A SECOND TRUST on $7,000 brick home: chattel mortgage included if desired. Present first trust. $4.400 Could repay at $50 per mo. including 6% int. Box 492-S. Star. 27* WANTED. SMALL LOAN ON 4-ROOM house, half acre ground. nearby Md., 27° fare. Box 300-S. Star. LEGAL NOTICES. KREMER and BINGHAM. 921 Tower Bldg., Wash., D. C. IN THE DISTRICT COURT OF THE United States for the District of Columbia.-In - re: UNITED STATES SAVINGS BANK---MISCELLANEOUS NO 40. ORDER NISI FOR SALE OF REAL PROPERTY.-Upon consideration of the petition of Frederick J. Young, Receiver of the United States Savings Bank. filed herein on the 4th day of September. 1940, it is by the Court this 4th day of September. 1940, ORDERED. 1. That Frederick J. Young. as Receiver of said bank and as Receiver of the Industrial Savings Bank, said banks participating as title owners in the following-described property in the sums of $5.000 and $22 417 respectively. be and he hereby is authorized to convey by Receiver's or quit claim deed to Samuel P. Cohen. or his nominee. for not less than $27,500 cash. the improved real property located at 918-920-922 You Street. Northwest. Washington. D. C., otherwise described as lots 15. 16 and 17 in W. B. Todd. Executor. and others' subdivision in Square 361, as per plat recorded in Liber R.W folio 12. of the Records of the office of the Surveyor for the District of Columbia. and that said sale be ratified and confirmed. unless cause be shown to the contrary or objections made. on or before the 2nd day of October. 1940. or unless higher offers in writing and properly guaranteed are received by the Receiver at his office in the United States Saving Bank at 14th and You Streets N.W.. prior to twelve o'clock noon on the day preceding the last above-mentioned date. 2. That a copy of this order be published at least three times prior to the last above-mentioned date in the Washington Evening Star Newspaper and once in the Washington Law Reporter By the Court: JENNINGS BAILEY, Justice. se13.20.27