2099. North Capital Savings Bank (Washington, DC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
March 1, 1933*
Location
Washington, District of Columbia (38.895, -77.036)

Metadata

Model
gpt-5-mini
Short Digest
9ea90835

Response Measures

None

Description

The bank was closed since before the 1933 banking holiday and placed in receivership. Receiver John S. Bryan is administering pay-offs in March 1934; there is no article text indicating the bank resumed normal operations. Thus this is a suspension with receivership/closure. Bank name indicates a savings bank (state).

Events (4)
1. March 1, 1933* Suspension
Cause
Government Action
Cause Details
Closed in connection with the 1933 banking holiday and subsequent restrictions; placed in receivership thereafter
Newspaper Excerpt
closed since before the banking holiday
Source
newspapers
2. December 11, 1933 Receivership
Newspaper Excerpt
A suit ... was filed ... by John S. Bryan, receiver for the North Capital Savings Bank, who said the money is due on a stock assessment.
Source
newspapers
3. March 12, 1934 Other
Newspaper Excerpt
The North Capital Savings Bank, closed since before the banking holiday, will not pay its second 12 1/2 per cent dividend until tomorrow, the announcement that this was to be done was made Saturday by John S. Bryan, receiver. ... The North Capital will begin paying off tomorrow about 8,000 persons. Approximately $120,000 is involved there.
Source
newspapers
4. March 13, 1934 Other
Newspaper Excerpt
Approximately 8,000 Washington people today were collecting $120,000 from the North Capital Savings Bank. ... The pay-off by the North Capital Savings Bank means that approximately one million dollars has been opened to Washingtonians by closed banks within the past few days.
Source
newspapers

Newspaper Articles (3)
1. December 11, 1933 Evening Star Washington, DC
Article from Evening Star, December 11, 1933

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Article Text

RECEIVER SUES HARPER Claims $1,500 Due on North Capital Stock Assessment. A suit for $1,500 was filed in District Supreme Court today against Col. Robert N. Harper, prominent in local banking circles, by John S. Bryan, receiver for the North Capital Savings Bank, who said the money is due on a stock assessment The suit, filed through Attorney Francis W. Hill, jr., alleges Col. Harper owned 200 shares of stock in the bank and has paid only $500 of a $2,000 assessment made against him in November, 1932.

2. March 12, 1934 The Washington Times Washington, DC
Article from The Washington Times, March 12, 1934

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Article Text

BANK PAYMENTS MANY HER Approximately 38,000 Washingtonians and $1,000,000 were affected by developments in the closed-bank situation during the past week. While the North Capital Savings Bank, closed since before the banking holiday, will not pay its second 12 1/2 per cent dividend until tomorrow, the announcement that this was to be done was made Saturday by John S. Bryan, receiver. This development came close on the heels of the reopening of the closed Mt. Vernon Savings Bank as a unit of the unrestricted Washington Mechanics Savings Bank, headed by Clarence F. Burton, and the release of 40 per cent of deposits frozen since the bank holiday. The North Capital will begin paying off tomorrow about 8,000 persons. Approximately $120,000 is involved there. Earlier last week the Mt. Vernon began paying off, 30,000 estimated depositors being given access to more than $800,000. Sometime within the next two or three weeks the Franklin National Bank, also closed since the bank holiday. is scheduled to reopen as a part of the Washington Mechanics-Mt. Vernon combination. That will release approximately $1,200,000 and will affect some 10,000 persons. Mr. Burton, president of the Washington Mechanics, said today that every effort to expedite the opening of the Franklin National was being made.

3. March 13, 1934 The Washington Times Washington, DC
Article from The Washington Times, March 13, 1934

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Article Text

8,000 HERE NORTH CAPITAL BANK PAYS $120,000 TO 000 of this was freed when the the hands of receivers, and payBy DUNBAR HARE everyone who received his money Mt. Vernon Savings Bank bepossess a receiver's certificate. ments started today at 9 a. m. Approximately 8,000 Washingcame a part of the unrestricted ton people today were collecting The pay-off by the North Last May the bank paid a Washington Mechanics Savings $120,000 from the North Capital similar sum to the same number Capital means that approxiBank. Savings Bank. mately one million dollars has of people. The sum represents the second John S. Bryan, receiver, was been opened to Washingtonians 121/2 per cent dividend paid by kept busy by the early rush but by closed banks within the past the institution since it went into maintained his insistence that few days. Approximately $800,-