North Capital Savings Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: August 2, 1936
Location: Washington, District of Columbia (38.895, -77.036)

Metadata

Model: gpt-5-mini
Short Digest: e4d460e7

Response Measures

None

Description

Article (Evening Star, 1936-08-02) reports North Capital Savings Bank has paid depositors 25% dividends and lists remaining assets with book and estimated values; a receiver is referenced in the financial district notes, indicating the bank was placed in receivership and remains closed/permanently wound up. No explicit run is described in the article.

Events (2)

1. August 2, 1936 Receivership

Newspaper Excerpt: Receiver Moran reported ... the North Capital Savings Bank, which has paid out 25 per cent dividends to depositors, has remaining assets ... and an estimated value of $309,150 (financial district notes refer to receivers and receiver reports).
Source: newspapers

2. August 2, 1936 Suspension

Cause: Government Action
Cause Details: Bank under receiver supervision (receiver referenced in financial district notes) and paying dividends to depositors as part of receivership/liquidation process
Newspaper Excerpt: the North Capital Savings Bank, which has paid out 25 per cent dividends to depositors, has remaining assets with a book value of $910,492.92 and an estimated value of $309,150
Source: newspapers

Newspaper Articles (1)

1. August 2, 1936 Evening Star Washington, DC

Article from Evening Star, August 2, 1936

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Article Text

SHARP GAIN SEEN N BANK DEPOSITS OF-FIFTH DISTRICT Advance of $45,454,000 Reported by Institutions in This Territory. WEEK'S TRADE HERE AGAIN AHEAD OF 1935 Capital Bankers Make Plans to Attend A. B. A. Convention in San Francisco in Fall. BY EDWARD c. STONE. Between July 17 1935, and July 15, 1936, the 41 member banks reporting to the Federal Reserve Bank of Richmond increased loans on securities by $2,740,000 and all other loans, which are largely agricultural or commercial, rose by $6,320,000 total rise in loans and discounts amounting to $9,060,000, it was reported yesterday The Richmond Bank reported that Investments in bonds and stocks rose by $29,218,000 during the year under review, chiefly in short-term Government obligations on which the return is low The aggregate reserve balance of the reporting banks at the Federal Reserve Bank advanced by $30,041,000 during the past year and on July 15, 1936, cash in vaults totaled $1,555,000 more than on July 17, 1935. Deposits increased materially between July last year and this demand deposits rising by $42,521,000 and time deposits gaining $2,933,000 or total of $45,454,000. Nearly all the increases in deposits in the last three years have been in demand deposits, the Richmond bank says None of the 41 reporting banks was borrowing at the Reserve bank between July, 1935 and 1936 Time deposits in the regularly reporting member banks and aggregate deposits in 11 mutual savings banks total $406.520.345 at the end of June, this year a higher figure than $401,520,345 at the end of May or $395,505,846 at the end of June a year ago. Both member banks and mutual savings banks gained in deposits during June and during the year Weekly Trade Again Good, During the past week sales in Washington department stores were lower than in the previous week but 11.6 per cent above the correspond ing week in 1935, the Department of Commerce reported yesterday Bank clearings were 15.5 per cent ahead of the like week a year ago. although lower than in the previous week this year The value of building permits rose sharply with a total of $1,200,300 in comparison with $344,600 in the previous week and $501,200 for the same week last year. The figures included a $750,000 department store warehouse. Tourist activities were far ahead of the previous week and the same week a year ago, according to Smithsonian Institution reports The rest of the fifth Reserve district also did well Retail trade was substantially better than vear ago Clearance sales helped Baltimore trade. Bank clearings were higher than year ago, sharp advances being reported in some cities. The report shows that wholesale trade has also stepped up perceptably in the past few days. Convention Interest Grows Interest is growing among Washington bankers in the annual convention of the American Bankers' Association which takes place September 21-24 in San Francisco. At least five bankers from the CapItal, and probably more, are planning to attend the sessions, requests already having been sent in for hotel reservations. The list so far includes: Karl W. Corby, president of the District Bankers Association and a partner in W. B. Hibbs & Co.; John A Reilly, president, Second National Bank; Wilmer J. Waller, vice president and cashier. Hamilton National Bank, and Thomas J Groom, first vice president of the District Bankers Association and vice president and cashier of the Bank of Commerce & Savings Reservations have, of course, been made by A B. A. headquarters for Robert V. Fleming, president of the national association and of the Riggs National Bank, who will preside at all the general sessions and also take an active part in many of the section meetings. Financial District Notes The quarterly report of Receiver John F. Moran, for the Park Savings Bank, showed remaining assets valued a at about $400,000. compared with book value of $1,114,393.61 Depositors so far have received 20 per cent of their former deposits. Receiver Moran reported a few days ago that the Departmental Bank which has paid 80 per cent in dividends. still has assets with an estimated value of $54.000 and that the North Capital Savings Bank, which has paid out 25 per cent dividends to depositors, has remaining assets with a book value of $910,492.92 and an estimated value of $309,150 The Washington Stock Exchange enjoyed an unusually good week, so far as volume and price levels were concerned Late in the week Mergenthaler Linotype recorded several sales at 47, close to the high for the year. National Capital Bank stock moved at 140, while the final session saw 40 shares of Washington Loan & Trust Co. stock change ownership at 225. Capital Transit stock was strong at 17. Bonds figured in their share of the trading at strong prices.