21002671357 2100267
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21-00262da54589003e9135None
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A LOUISVILLE bank CLOSED. Louisville, Jan. 22.-Affairs of the Commercial Bank and Trust Company. a state institution, capitalized at $300,000, were turned over to the State Banking Commissioner to-day at his suggestion by the directors. The doors were closed at noon. Non-productive assets and doubtful paper are assigned as the cause for closing. "The bank undoubtedly will pay dollar for dollar to its depositors," said President Bruner.
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Big Louisville Bank Closes Its Doors But Depositors, It Is Believed, Will Be Paid In Pull-Closed By Bank Examiner. Louisville, Ky., Jan. 22.-The - Commercial Bank and Trust Company, a state institution, capitalized at $300,000, was closed today by the S ate Banking Commissioner following the regular examination. Former Secretary of State M. L. Bruner, who was president of the bank, was named as deputy commissioner and will liquidate the bank's affairs. The bank has $723,000, deposits and $722.000 in loans. Non-productive assets and bad loans are assigned as the cause of the bank's closing. It is believed that depositors will be paid in full.
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Many Inspections Made. During the last year 779 inspections of State banks and trust companies were made under the supervision of the State Banking department. There are 479 state banks and trust companies in operation and the commission has liquidated five banks, paying the depositors of four of them in full. The fifth, the Commercial Bank & Trust Co., of Louisville, is still in the hands of a receiver. State Banking Commissioner Thomas J. Smith held a conference here with Examiners E. J. Doss, John B. Chenault, A. B. Faris and Deputy Banking Commissioner Rankin Reville, the nature of which was private.