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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
20814. Liberty Savings Bank & Trust Company (Memphis, TN)
Bank Information
- Episode Type
- Run → Suspension → Closure
- Bank Type
- trust company
- Start Date
- June 28, 1928
- Location
- Memphis, Tennessee (35.150, -90.049)
Metadata
- Model
- gpt-5-mini
- Short Digest
1b551d52
Response Measures
Full suspension, Books examined
Other: Bank was turned over to the State Banking Department (state examiners/receivership process implied).
Description
Multiple contemporaneous news reports (dated June 29, 1928) state the bank closed its doors yesterday and was turned over to the State Banking Department after a slow run that drained $200,000. Frozen assets are cited as forcing the closing. No reopening is mentioned; the bank was handed to state examiners/department indicating permanent closure/receivership.
Events (3)
1.
June 28, 1928
Receivership
- Newspaper Excerpt
- was turned over to the State Banking Department / turned over to the state banking department. The action followed a slow run ... Phil M. Canale, attorney for the bank, said 'frozen' assets forced the closing.
- Source
- newspapers
2.
June 28, 1928
Run
- Cause
- Bank Specific Adverse Info
- Cause Details
- Slow run during the day drained $200,000 from vaults; attorney said 'frozen' assets forced the closing, indicating bank-specific asset problems prompted withdrawals.
- Measures
- None reported prior to closing; withdrawals precipitated turning bank over to State Banking Department.
- Newspaper Excerpt
- The action followed a slow run on the bank during the day that drained $200,000 from its vaults.
- Source
- newspapers
3.
June 28, 1928
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Bank closed and was turned over to state banking department after run and because of 'frozen' assets; indicates suspension due to bank-specific asset impairment.
- Newspaper Excerpt
- closed its doors yesterday and was turned over to the State Banking Department.
- Source
- newspapers
Newspaper Articles (20)
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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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'Frozen Assets' Force Memphis Bank to Close 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 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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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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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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BANK CLOSES DOORS. MEMPHIS Tenn., June 29 (AP) 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 CLOSES AFTER RUN. Memphis, Tenn., June 29 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 overnight run the bank during the day drained 000 from its vaults Phil M. Canale attorney for the bank said "frozen" assets forced the clos THAT unusual article you are for will appear in The Eagle Classified Columns one of fine days
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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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TENNESSEE INSTITUTION REVERTS TO EXAMINERS 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 department. The action followed a slow run on the bank during the day that drained $200,000 from its 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 Closes in Memphis The Liberty Savings Goes Down After Slow Run of Day 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 department. The action followed a slow run on the bank during the day that drained $200,000 from its vaults. It had ?pproximately $3,000,000 deposits and $2,700,000 in loans. Phil "1. Canale, attorney for the bank, said "frozen" assets forced the closing
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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 Closes MEMPHIS June Liberty Savings Bank and Trust Company of Memphis closed its doors Thursday and was turned over to the state banking department This action was decided on at meeting of the board of directors after a slow run on the bank during the day that drained $200,000 from its vaults. The bank had approximately $3.000.000 on deposit and 2,700,000 in loans. Phil M. Canale. attorney for [the bank. said "frozen" assets forced the
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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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Martin Levi, S. F. Broker, Takes Bride Martin Levi. well known broker. was united in marriage yesterday to Mrs. Grayce Poole. The wed. ding ceremony was held at the Palace Hotel at high noon with Superior Judge Thomas F. Graham officiating. Many friends of the bride and groom attended. Memphis Bank Fails. MEMI June 29 The Liberty and Trust Company has its doors and is in the hands of the State Banking Department This action followed a run on the bank yesterday that drained $200. 000 from its vaults. It had approximately $3,000,000 deposits and $2,700,000 in loans. The failure is attributed to frozen assets. Consolidated Film IndustriesFrom January 20 March 31, net profit $262,348, after depreciation. Federal taxes, Motor Products-For five months ended May 31. net profit $922,765. after Interest, Federal taxes, etc., against $318,421 in 1927.
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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.