2073. National Bank (Washington, DC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
3425
Charter Number
3425
Start Date
March 1, 1933
Location
Washington, District of Columbia (38.895, -77.036)

Metadata

Model
gpt-5-mini
Short Digest
1e86cff3

Response Measures

None

Description

Newspapers report 'The National Bank closed' in the context of the March 1933 banking panic. Articles describe broader runs and panic; no explicit mention of a subsequent reopening or receiver in these excerpts, so classified as suspension leading to closure. Date taken from publication (Mar 1–2, 1933).

Events (1)

1. March 1, 1933 Suspension
Cause
Macro News
Cause Details
Closed amid the broader banking panic and widespread runs/withdrawals in early March 1933; closure mentioned in reports of bank scares and runs in multiple institutions.
Newspaper Excerpt
Possibility of banking mora torium in the District does not exist ... occasioned by the fact that ordinarily is the practice ... closing of the National.
Source
newspapers

Newspaper Articles (2)

Article from The Washington Herald, March 1, 1933

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Article Text

Will Cut All Red Tape in Making Loans on Good Securities; No Moratorium Likely By RICHARD HATTON The Reconstruction Finance Corporation was prepared last night to loan money immediately any bank that may be forced into difficult by the closing of the Comsition mercial Bank With this information came word from the corporation that loans would be made only on reptable security although all tape would be cut to make money available. NO MORATORIUM Possibility of banking mora torium in the District does not exist explained by the following statement: "There apparently been some misapprehension the possibility of action the District of Columbia affecting the banks similar that taken Michigan and "There no law and thority in public official declare moratorium bank holiday in the District. "What done in Michigan and other places not, under our laws, be feared by positors here because no one has the power to do what Comstock and Gov ernor Ritchie WILL CUT RED TAPE Discussing the availability immediate aid to any bank fected by closing of the National. official the Reconstruction Finance Corporation had the following has been ascertained that through the cooperation of the Board of the Reconstruction nance Corporation, together with the Richmond, Va., Loan Agency and the local advisory arrangements have been effected whereby local institutions. should the need arise, may secure loans sound assets from the and get prompt and almost service. "This occasioned by the fact that ordinarily is the practice. in making loans, that they must be proved by the committee prominent have been selected by the board and who first must give their approval and submit their recommendations the loan agency the Federal Reserve district which the banks are located. the of Washington, ordinarily loans. after being proved by the local would be transmitted to Richmond, the headquarters of the Fifth Federal district. being the headquarters of the board, the facilities that body are available to any the local banks desire make loans their sound assets, more the board being located


Article from Paragould Daily Press, March 2, 1933

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Article Text

Jealousy Charged For Killing Senate the Amend- of Bank Panic Ex- Murder Case of Leslie Cox Accepts Spread After Bring Call on of Fort Smith Goes to ments King pected to Bill Congress Jury nounces Mar. uncertain last night awaited the Smith cotrelief bill the White The intended to cotton prices through acreage his tion and pooling plan, sent President Hoover completion congressional action. for Administration senators expressed doubt that the bill would be while sponsors of the measure, including Senator Smith. Democrat. South Carolina, its author. claimed they lieved would receive White House proval. The bill was sent to the president early in after the Senate accepted without record vote and with only few audible amendments by the Senator King. Utah. denounced proposal tending "perpetuate the that has grown up under the Farm Board" and "projecting the government again into the buying and selling Smith and Senator McKellar, DemoTennessee, its the the former declaring "may the beginning in the break in the deadlock of price the Those predicting veto of the bill based their belief the fact that all Republicans the House except those in cotton textile voted against House passed Tuesday, 188 to State Campaign Under Smith Bill Planned Little Mar. Roy assistant director of Agricultural Extension Service. advised yesterday by official Washington of the passage the Smith cotton duction bill and requested to prepare organization for paign in behalf the measure signed by the president Evans, associate chief of extension will come to Arkansas immediately the bill signed by launch the acreage reduccampaign, Mr. Reid said. The bill provides for farmers to tain options on the amount of cotton they would have grown on the they agreed to take out of cotton cultivation to 30 per cent of their total acreage. there an increase in cotton prices they will have privilege of exercising their while they can cancel the contracts if prices do not increase. Mar. resplendnational already with visitors, awaiting the President for rival of Saturday and the distressed nation. quivering mingled and eagerly watching anxiety hope. harbinger of his promised With the banking panic addir to the regions and thereby the depression, the gravity like through the has run the president to make that new restore tranquility either in his inaugural and An address or immediately the regarded leaders here are saying that commanding gesture the calls for and what what they expect of Roosevelt he the oath of For this takes they attach much significance summons to William Woodin. his choice for secretary confer in New York Treasury. believe that the RooseThey action in emergency being shaped by the crisis Mr. Woodin and other advisors. Observes Proprieties that Mr. Roosevelt was appears leaders strongly by urged business men several ago and to the reassuring to either independently in President Hoover. He junction with contrary to his declined. take of the conception character before becoming step of this president. leaders are content Some Democratic policy of hands with Mr. Roosevelt's moment he takes off right up believe that the the oath. They country. which nomic condition of the violently the last fortslumped in reached lowest will depths the Republican regime ends Then, comes noon Saturday. the magician's wand will begin pick up at and things hitting the upgrade stock optimistic antiand all that the more cipate. Democratic leaders, however, Many alarm the bank are exhibiting much states where withscare spreads beyond has been partially drawal of deposits had visual suspended. Congress the bank scare and the evidence of right at its doors in of hoarding three as runs on many the last Washington banks have developed. The National Bank closed. the Commercial Bank limited withDistrict National five and many savdrawals banks invoked the 60-day notice ings clause. Democratic leaders in the House were yesterday that the emergency saying meeting of the new Concalls for the after March as phygress soon event before sically possible and any which the tentative date fixed. April, intend Mr. Some of them urge the call at once for Roosevelt to issue not later than session to that Henry March chosen for in the Rainey, Democratic caucus tonight, will take the leadership in this move. Rebinson for Definite Program DemoSenator Joseph denied that he contemcrat, Arkansas, plated urging the at once. He call new Congress matter for Mr. Roosesaid that was decide. Arkansas senator velt believes that definite program should before calling Congress. does what Congress could He the bank scare except by to allay to bank legislating S which he cold. The measure Glass banking reform would but this measure which his by the Senate has been been passed blocked the House by Representative Henry Democrat. chairman the Banking Currency Committee, because the refusal the Senate House bills sponpass sored by Mr. Steagall. Other leaders in the Sensaid that whether they would urge of would the Mr. Roosevelt depend on program brings forward. Mr. Roosevelt has said his inaugural address yould not take more than eight minutes to deliver, therefore concluded no detailed program presented. Still, is conceded that brief as be, the speech may outline action that will program dissipate alarm inspire the American with confidence that the people tide at hand. are confident that the inaugural address will contain definite that there will inflation of the that budget will be balanced, the counremain on the gold standard try and that the federal government be reduced radically. Assurances against inflation and pledges an balancing of the budget, early contended. would go far toward endthe bank scare and the increased hearding that started Panic has spread bank depositors, said, by the failure to budget increasing agitation for and the lack of evidence Mr. will take strong stand against inflationary Circuit Court asked night to jury decide whether Leslie Cox. rancher, killed Charlie one of his because the ranch his life Morris him when the rancher accused tenant stealing The case went to the composed 12 farmers merchants, at after sensational trial. Prosecuting Attorney Harrell Harper demanded conviction the strength testimony that Cox quarreled with Morris over the housekeeper his near Jenny Lind. Ark., while the asked acquittal on the ground that Morris attacked Cox with pocket knife. took stand deny any illicit relationships the in only and declared he shot him with knife Morris after he had Morris stealand food from the ranch. ing testified that he after Cox firing and the body for more than helpless hour. denied that Morris an dismiss requested ground she housekeeper dissension in the families causing ranch tenants. Clark and Jchn Morris, the Albert latter brother slain man. testified that the housekeeper the "constant trouble" beof her relations Cox. Bynum testified that Charles Morris him few days shooting that he had asked the Cox the housekeeper and had the unless his request was granted.