Louisville Trust Company (Louisville, KY)

Episode Information

Episode UID
21005271571
Episode Type
Suspension → Reopening
Bank Type
trust
Bank ID
2100527 routing
Routing Number
21-0052
Start Date
November 17, 1930
Location
Louisville, Kentucky (38.254, -85.759)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
89163937fdc3b485

Response Measures

None

Description

The bank suspended following the failure of its affiliate, the National Bank of Kentucky, due to rumors and the Caldwell & Co. collapse; it successfully reorganized and reopened in August 1931.

Events (3)
1. November 17, 1930 Suspension
Cause
Local Banks
Cause Details
Suspended as a precautionary measure following the failure of its affiliate, the National Bank of Kentucky, which was triggered by rumors and the collapse of Caldwell & Co.
Newspaper Excerpt
the Louisville Trust Company failed for business... placed in the hands the state banking commissioner.
Source
newspapers
2. November 21, 1930 Receivership
Newspaper Excerpt
Application for a receiver for the Louisville Trust company was filed today in Jefferson circuit court by Attorney General Cammack.
Source
newspapers
3. August 24, 1931 Reopening
Newspaper Excerpt
Reopening in Louisville tomorrow of the re-organized Louisville Trust Company will be the ninth state bank that has re-opened
Source
newspapers

Newspaper Articles (24)
1. November 17, 1930 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, November 17, 1930

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DOORS OF FOUR BANKS CLOSED 65 Millions Are Listed in Combined Resources: Others Shut. United LOUISVILLE Louisville Security bank and the American Mutual Savings bank, the latter operated doors today after the National Bank of Kentucky and the Louisville Trust Company failed for business. The Security bank was afffiliated with the National Bank, which over by the federal controller currency The Negro bank was affiliated with the Louisville Trust Company, which placed in the hands the state banking commissioner. The four banks combined list All solvent, it said that them and protect creditors, depositors concerned. Closing of banks was scribed financial circles outgrowth of rumors circulated following Caldwell Nashville, Tenn., largest investment house in the south Brown, president of National reiterated plans for group merger Caldwell abandoned the brokerage went into the hands receiver. Steady Run Blamed United LITTLE ROCK, Ark., Nov. The American Trust Company, failed to open for busihere today. notice posted by officers of the that the the its board of solvent and has to susfor five days to depositors. affiliated banks also closed. The of the institution. which and Sept. 24, had assets of $20,005,697, that the action forced "by excessive withdrawals totaling more than $4,000,000 during the last ten

2. November 18, 1930 New Britain Herald New Britain, CT
Article from New Britain Herald, November 18, 1930

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EIGHT KENTUCKY BANKS ARE CLOSED Largest at Louisville-- "Wild Rumors" Blamed Louisville, Ky Nov. 18 (P) - Eight Kentucky financial institutions with . resources totalling more than $75,000,000 were closed today. The largest of these was the National bank of Kentucky at Louisville, which way under the control of a receiver, Paul C. Keyes, of the staff of the comptroller of the currency at Washington. Its resources approximate $60,000.000. Directors of the National bank of Kentucky said the suspension yesterday was deemed necessary because of "wild rumors" concerning its condition. Simultaneously with its closing. two affiliated institutions, the Louisville Trust Co. and the Security bank, suspended operations. Their directors said they were solvent and that they were closed as precautionary measures The three institutions are affiliated through the Banco-Kentucky, a holding company. Officers of other leading Louisville banks issued statements last night declaring yesterday's deposits were greater than the withdrawals, reported new accounts were opened during the day, and reiterated earlier statements that the institutions were solvent.

3. November 18, 1930 Palladium-Item Richmond, IN
Article from Palladium-Item, November 18, 1930

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8 Leading Financial Institutions Close in State of Kentucky LOUISVILLE, Ky., Nov. Eight Kentucky financial institutions resources totalling more than $75,000,000 were closed today. largest these the National bank Kentucky at Louisville, which was under the control of receiver, Paul C. Keyes, of the staff the currency resources approxi$60,000,000. Directors of the National bank of Kentucky said the suspension terday necessary condition. with closing, affiliated institutions, the Louisville Trust company the Security bank, suspended operations. Their said they solvent that they were closed The affiliated through the holdcompany. small negro banks in ville, The Mutual the First which cleared through the Trust company later closed. The bank of St. Helens, subalso suspended as precautionmeasure Two banks outside Louisville closed when learned The National bank of Kentucky pended. They were Meguiar Bank and Trust company Franklin, the First tional bank Horse Cave, National bank served Officers other Louisville banks night declaring yesterday's deposits greater than withdrawals, reported new accounts were opened during the day, earlier statecents that the institutions were vent.

4. November 18, 1930 The Amarillo Globe-Times Amarillo, TX
Article from The Amarillo Globe-Times, November 18, 1930

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EIGHT BANKS IN KENTUCKY CLOSED TODAY Kentucky financial institutions with resources totalling more then $75,000,000 were closed Loday, The largest of there was the National Bank of Kentucky at Louisville, which der control of a receiver, Paul C. Veyer, of the staff of the comptroller of the currency at Washington. Its reDirectors of the National Bank of Kentucky said the suspension yesterday was deemed necessary because of "wild rumors" concerning its condition. Simultaneously with its closing, two affiliated institutions, the Louisville Trust Company and the Security Bank, suspended operations. Their dithat they were closed 85 0 precautionarea affiliated through the Banco-Kentucky, a holding company.

5. November 18, 1930 The Berkshire Eagle Pittsfield, MA
Article from The Berkshire Eagle, November 18, 1930

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Eight Kentucky Institutions Closed LOUISVILLE Ky., Nov. 18 Eight Kentucky financial Women's totaling more than were closed today. The largest these was the National Bank which Famous was Paul the staff the the Wash- Dr. ington resources approximate Directors the National Bank of Steinway Kentucky suspension terday deemed necessary of "wild rumors" its with Our closing. affiliated institutions, the Louisville Trust company and Price Security bank, operations Their directors said they solvent they were closed as in brown, black and Officers the other leading Louiswanted sizes. AA to ville banks issued night declaring deposits greater Berkshire reported opened the and reiterated earlier during North Street statements the institutions were solvent.

6. November 18, 1930 The Lincoln Star Lincoln, NE
Article from The Lincoln Star, November 18, 1930

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RUMORS BLAMED IN BANK CLOSING Eight Kentucky Financial Institutions Suspend Operations. LOUISVILLE, Ky., Nov. Eight Kentucky financial institutions with resources totalling more than $75,000,000 were closed today. of these was the NaThe largest tional Bank of Kentucky at Louisville, which under the control of receiver, Paul C. Keyes of the staff of the comptroller of the currency at Washington. Its resources $60,000,000. approximate Directors the National Bank of Kentucky said the suspension yesterday was deemed necessary cause of "wild rumors" concerning its condition. Simultaneously with two affiliated instituclosing. tions the Louisville Trust Co., and Security bank, suspended operthe ations. Their directors said they were solvent and that they were closed as precautionary measure. The three institutions affiliated through holding company. Negro Banks Close. Two small negro banks in Louisville, the American Mutual Savings bank and the First Standard bank, which cleared through the Louisville Trust later closed. The Bank of St. Helens, Louisville suburb. also suspended as precautionary Two banks outside Louisville also closed when it was learned National Bank of Kentucky had suspended. They McElwain Meguiar Bank Trust Co. at Franklin, and the First National bank Horse Cave, Ky. The National Bank of Kentucky served as correspondent for both. Officers of other leading Louisville banks issued statements night declaring yesterday's were greater than reported new accounts were opened during the day, and reiterated earlier statements that the institutions were solvent.

7. November 18, 1930 Montpelier Evening Argus Montpelier, VT
Article from Montpelier Evening Argus, November 18, 1930

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SATISFYING That Now Faces the Conference Relative to Naval Limitations Geneva, Nov. preparatory disarmament commission today adopted the first article of the naval armament section of the draft vention providing for total elimination and reduction of tonnage. Immediately after approving the soviet proposal to insert the word "reduce" in the report, the commission rejected Russian effort to eliminate from the draft ad provision for exempting list of "special vessels" from limitation. Debate today was waged around the desire of the smaller naval powers for great freedom to transfer tonnage the categories of small ships which they regard as essential to their fense needs. Both Mr. Gibson and Lord Cecil expressed sympathy with this attiwhile suggesting that policy building submarines without limit might prove grave menace to peace. The Spanish, Swedish and Russian delegates offered amendments to this freedom to the smaller navies. The dividing line between big vies which would be bound by gory limitation and small navies which wouldhave full liberty of transfer then came up. The Spanish representatve wishes to leave formation of this line to the conference. Sweden wished to hold at 10,000 tons while Russia proposed 200,000 tons. The commission then proceeded seek agreement on the next two ticles which provide for limitation categories and the right of transfer for percentage of tonnage from category to another. These three provisions are parallel those of the London naval treaty. The Russian delegation succeeded getting insertion of provision for reduction as well limitation in the phraseology of the first articles. Here Maxim the Russian representative, found himself in the majority for the first time this sion of the commission. Hugh Gibson, the American delegate the British and the French, had in agreeing with this Soviet joined proposal. Unable to agree on how to satisfy the desire of the smaller naval powers for freedom transfer in more gories, the commission entrusted this problem for study to small committee made up of the chief delegates Russia, Japan, Sweden, Spain and of Greece. Conditions in That State Are Alarming in Financial Circles, It is Said Louisville, Kentucky financial institutions with resources totaling more than 000,000 were closed today. The of these was the national bank Kentucky at Louisville, which was under the control of receiver, Paul Keyes, of the staff of the troller of the currency Washington. Its resources approximate $60,000,000. Directors of the National Bank Kentucky said the suspension yesterday was deemed necessary because rumors" concerning its conditSimultaneously with its closing, affiliated institutions, the Louisville Trust company and the Security bank, suspended operations. Their directors said they were solvent and they closed precautionary measures. Officers of the other leading Louisbanks issued statements last night declaring yesterday's deposit greater than the withdrawals, reported new accounts were opened during the day, and reiterated statements that the institutions solvent.

8. November 18, 1930 The Portsmouth Star Portsmouth, VA
Article from The Portsmouth Star, November 18, 1930

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8 BANKS CLOSE Ky., Nov. 18. (AP.) -Eight Kentucky institutions totalling more $75,000,000 were closed today. The largest of these the National Bank Kentucky at Louisville, which the control receiver, Paul of the staff of the comptroller the rency Washington. Its resources approximate Directors the National Bank Kentucky said the suspension yes terday deemed necessary eause concerning its condition. its closing, affiliated institutions, the Louisville Trust Company and the Security Bank, suspended operations. Their directors they solvent that were closed precautionary measure. three institutions affiliated through Banco tucky, holding company Two small negro banks in Louisville, the American Mutual Savings Bank and the First Standard cleared through Louisville Trust closed. Bank Helens. Louisville suburb, also precautionary Two banks outside Louisville also closed when learned the Na tional Bank of Kentucky had sus pended. They were the McElwain -Missionary Group No. of the temple, Thursday evening o'clock at the home of Mrs. Patsie Taylor, Douglas avenue. Mrs. Isabella White is the leader. -Envelopes are out for "Ten Friends" rally to on this Sunday 3:30 m., when an excelent program will be and missionary sermon be Friends are especially This rally is under auspices of Boone's H. and Missionary Society, of which Miss A. V. Bailey president. Eva DeGreffried of Selma. N. the guest cousin, Mrs. Geneva Harris, of Douglas avenue. Sarah V. Diggs, of 1438 Kirn the members the Christmas Saving club on this evening. Mrs. Edith Westmoreland, president. But Loving November 1929, Year memory dear Sadly Alice Loving Remembrance Friend, November lingers, Sweetly, tender, fond Freddie, SADLY MISSED FRIEND CARD OF THANKS. extend thanks many friends for the other rendered during death

9. November 18, 1930 The Bee Danville, VA
Article from The Bee, November 18, 1930

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Child Slain Missionary, by Savages LAY PLANS TO This photo shows Rev. and Mrs. Arthur F. Tylee, of Memphis, Tenn., and their two-year-old daughter, Marian, all of whom were attacked by savage Indians in the Brazilian jungle, where the WHICH CLOSED Rev., Tylee was stationed Presbyterian missionary. Rev. Financial Leaders Optimistic As Action Is Taken to Re-Open Institutions LITTLE ROCK, Ark., Nov. -Optimism expressed in statements of Arkansas financial leaders laid plans today to re-open some 43 banks which have suspended temporarily or closed. The committee of the American Exchange Trust company here, largest and one of the oldest banks the state, which suspended for five days, was engaged with plans resume operations Closing of the American Exchange followed by suspension activities by the other banks, the aggregate deposits which more than $27,000,000. Banks. president of the American Exchange, and stockholder in of the 42 other banks scattered over the state. the boards of directors trying obtain pledges of loyalty from their and capital to assure freedom of danger from Expressions of confidence in the general stability of the state's finanstructure were added by Governor Parnell and Senator Robinson to those bankers. The Little Rock Clearing association by assured the public that local banks are in sound condition. Hysteria proceedings against Caldwell and pany, Tenn., bankers. until recently interested the American Exchange was attributed by directors latter the cause steady withdrawals which reached about BANKS CLOSE LOUISVILLE Nov Eight Kentucky financial institutions totaling more than were closed today The largest of these was the National Bank Kentucky Louisville, which under the control of receiver, Paul Keyes, the staff the comptroller the currency Its resources approximate Directors of the National bank of Kentucky said the suspension yesterday deemed necessary because of "wild rumors' concerning its condition. with its clostwo affiliated institutions, Louisville Trust company and Security bank. suspended operations Their directors said they were vent and that they were closed precautionary measure The three institutions are affiliated through the holding company. small negro banks in Louisville, the American Mutual bank the First Standard bank which cleared through the Louisville Trust company later The bank St. Helens, Louisville urb. also suspended as precautionbanks outside Louisville also closed when it learned the National bank of Kentucky They were McElwain pended. Megular and Trust Company Franklin, and the First National bank at Ky The Nationbank of Kentucky served as corfor both Officers of other leading Louisville banks statements last night declaring yesterday's deposits were greater than ported new accounts were opened during the day, and reiterated earlier statements that the institutions were Tylee, the little girl and nurse were massacred, and Mrs. Tylee, also missionary, was wounded.

10. November 21, 1930 Messenger-Inquirer Owensboro, KY
Article from Messenger-Inquirer, November 21, 1930

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RECEIVER ASKED Louisville, Ky., Nov. 21. (AP)Application for a receiver for the Louisville Trust company was filed today in Jefferson circuit court by Attorney General Cammack. This bank has been in the hands of the state banking department since It failed to open Monday, and W. A. Dicken, deputy state banking commissioner, said it would pay out almost dollar for dollar. FOUR INDIANA BANKS CLOSE Indianapolis, Nov. 21. (P)-Four Southern Indiana banks in counties bordering the Ohio river were placed in the hands of the state banking department today. They were the Crawford County State Bank of English: the Leavenworth State Bank of Leavenworth: the Jackson Township State Bank of Corydon Junction, and the Old Capitol Bank & Trust company of Corydon. SIFT PROMISED Nashville, Tenn., Nov. 21. (AP) Governor Horton, of Tennessee, to. day pledged "full and complete investigation" of all state government departments as result of state financial difficulties which followed the naming of a receivership for Caldwell & Company, investment bankers.

11. November 21, 1930 Evening Star Washington, DC
Article from Evening Star, November 21, 1930

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WARRANT FOLLOWS FALSE BANK RUMOR A. & P. Tea Co. Accused of Circulating Story-Ninth Failure in Carolina. By the Associated Press. LOUISVILLE, Ky., November 21.The Great Atlantic and Pacific Tea Co. and its local manager, Albert Ivison, were charged with willfully circulating false rumors about the Stockyards Bank here. today. The action followed five days of financial stress which closed nine banks in this county, six in other parts of the State and six along the Southern Indiana border. Under Kentucky law it is a felony willfully to circulate false rumors that would embarrass a bank, and the Stockyards Bank announced it was in excellent condition. Its warrant charged the tea company notified its local store managers yesterday the Stockyards Bank had closed. At Ivison's office it was said he would make an explanatory statement. The Kentucky banks to close, beginning with the closing Monday of the $ 4,000,000 National Bank of Kentucky, was brought to 15 by failure of the Hopkins County Bank of Madisonville to open. On petition of Attorney General Cammack a receiver was appointed for the Louisville Trust Co., affiliated with the National Bank of Kentucky, which is in Federal receivership. The center of banking activity here moved over to the post office today and a shift in post office personnel was necessary to handle the long lines of depositors. Meanwhile officials of other banks said that while there was more than usual activity at most of them, they were in condition to meet demands. PUTS LOSS AT $50,000.

12. November 22, 1930 The Owensboro Messenger Owensboro, KY
Article from The Owensboro Messenger, November 22, 1930

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failed to open today bringing total number banks to close western North Carolina two days nine. The bank had deposits $2,000,000. RECEIVER ASKED Louisville, Ky., Nov. Application for receiver for the Louisville Trust company was filed today in Jefferson circuit court by Attorney General Cammack This bank has been the hands of the state banking department since failed to open Monday, and Dicken, deputy state banking commissioner, said would pay out most dollar for dollar. FOUR INDIANA BANKS CLOSE Indianapolis, Nov. 21. Southern banks in counties bordering the Ohio river were placed the hands of the state banking department today. They were Crawford County State Bank of English: the Leavenworth State Bank of Leavenworth; the Jackson Township State Bank Corydon and the Old Capitol Bank Trust company of Corydon.

13. December 11, 1930 The Winchester Sun Winchester, KY
Article from The Winchester Sun, December 11, 1930

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BROWN FILES BANKRUPT President of National Bank Kentucky Says He Debts He Unable (By Associated Press.) LOUISVILLE, Dec. James Brown, president of the National Bank of Kentucky and formerly president of the Bancokentucky company, filed voluntapetition in federal court here today. Both these institutions and the Louisville Trust Company in which Brown was interested are now in receiverships. The petition states Brown has debts is unable pay and will ing surrender all his property cept that exempt by law to creditors In addition banking Brown publisher of the Louisville HeraldPost.

14. December 11, 1930 New Britain Herald New Britain, CT
Article from New Britain Herald, December 11, 1930

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KENTUCKY BANKER GOES BANKRUPT Brown Files Voluntary Petition In Louisville Today Louisville, Ky., Dec. 11 (AP)-James B. Brown, president of the National Bank of Kentucky and former president of the Banco-Kentucky Company, filed a voluntary petition in bankruptcy in federal court here today in behalf of himself. Both these financial institutions and the Louisville Trust Company, in which he is interested, are in the hands of receivers. Brown's petition stated he has debts which he is unable to pay and expressed willingness to surrender all hie property for the benefit of his creditors except such as may be exempt by law. Mr. Brown, who started his business career as a bookkeeper here 35 years ago, is publisher of the Louisville Herald-Post, and has taken part in many financial enterprises.

15. December 26, 1930 New Britain Herald New Britain, CT
Article from New Britain Herald, December 26, 1930

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BANCOKENTUCKY NAMED IN $4,100,000 ACTION Boston Woman Claims Directors Are Guilty of Fraud and Gross Violation of Duties, Louisville, Ky., Dec. 26 P-Margaret W. Long of Boston and her trustee, George W. Cushing, filed suit in federal district court here today against directors of the Bancoken. tucky company. the National Bank of Kentucky and the Louisville Trust company, demanding $4,100,000 damages. Charging the directors with fraud and gross violation of duties at the expense of the minority stockholders, the plaintiffs aver they are owners of 150 trustees' participation shares which never were exchanged for Bancokentucky stock and assert they are suing on behalf of 60 other stockholders, similarly situated, owners of 30,000 trustees' shares. The Bancokentucky, a holding corporation, and the two affiliated institutions are in receivership.

16. March 7, 1931 The Owensboro Messenger Owensboro, KY
Article from The Owensboro Messenger, March 7, 1931

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Increased Selling Tends To Drag Grain Values Down Chicago, March prospects domestic winter crops led to increased selling IMPROVED day houses with southwest, and dragged down both Confidence Returns Gradually As Seven Closed Institutions Are Reopened. (By Associated Press) Reopening of several banks and formulation of plans to reorganize others has done much to relieve the financial uncertainty Kentucky of the past weeks. Developments given rise to the belief stronger financial will be the Blue Grass heritage Plans are under way for reorganization of the Bank and Trust company at Lexington, largest bank outside of Louisville to close. The stockholders have decided sell the bank's eight-story building, form new institution. 75 Per cent to Depositors Meanwhile depositors of the closed bank will receive per cent of their deposits, pledged by the Lexngton Clearng House assocation. more definite reorganization culminated yesterday at Middlesboro opening the Commercial Bank Trust company. which replaces defunct Citizens Bank and Trust company. The Bank has been approved Dicken, banking commissioner. announced his proval of the Lexington tion Banks Reopen Of the 25 Kentucky banks which closed, starting with the National Bank of Kentucky failure at Louisville last November 17. have reorganized opened. Others the Security Trust, Louisville: negro banks Louisville which merged and reopened, and banks St. Helen's, Sulphur, Sturgis. and the Farmers Bank, Fulton. Louisville was heartened by nouncement that the First National bank had purchased sufficient the assets closed National Bank of Kentucky to return to positors the latter institution two-thirds dividend. which will distributed within few weeks. MAKE PAYMENT SOON March First payment depositors of the Hopkins county bank which pended operation last and which has been the hands of state banking commissioner for liquidation since. is to be made soon Hughett. special deputy banking charge of liquidation. indicated today. Reports that be made about March MAY REOPEN TRUST CO. Louisville, Mar call number of depositors the Louisville Trust company meet this and discuss possibility reopening has been sent out by Huston Quin. signed by him chairman De positors committee. proponents the say reopening would duce and sult in depositors getting back larger per cent of their money MANY DEPOSITS MADE Middlesboro, March The Commercial Bank and Trust company opened here today replacing Citizens bank which closed last November 28. Officers the bank said many deposits were made. large on hand the opening W. Tennent president of the new bank: Gaius Whitfield cashand W. Bailey, dent. The First National Bank of Louisville, Ky., the new bank's depository.

17. August 19, 1931 Detroit Free Press Detroit, MI
Article from Detroit Free Press, August 19, 1931

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LOUISVILLE TRUST CO. TO RESUME BUSINESS LOUISVILLE, Ky. Aug. 18-(A. Reopening the Louisville Trust company set today for August 24 meeting tentative directors. The which closed last will reopen with capital stock surplus of $500, deposits of approximately $11,000,000. announcthat Rahill, former Chemical Bank Trust has accepted the presidency of the reorganized institution. Chesapeake Ohio. Declared regular dividend October to stock of

18. August 23, 1931 The Harlan Daily Enterprise Harlan, KY
Article from The Harlan Daily Enterprise, August 23, 1931

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UNDER THE DOME OF THE CAPITOL By DWIGHT L. PITKIN. Associated Press Staff Writer. Frankfort, Ky., Aug. 22 (AP) The banking situation in Kentucky is beginning to take on a brighter aspect, in the opinion of C. S. Wilson, state banking commissioner. Rural banks have been replenished, he said, by a bumper lamb crop which brought in much needed cash. There were fewer sheep on Kentucky farms this year but the number of lambs raised per 100 ewes was greater than last year. The crop was of excellent quality. "What's needed now," remarked Commisioner Wilson, "is a good price for the tobacco crop." Reopening in Louisville tomorrow of the re-organized Louisville Trust Company will be the ninth state bank that has re-opened out of the group that closed their doors to conserve assets in the wake of the crash in Louisville last Nov. 17. Another one, the Guaranty Bank & Trust Company, of Lexington, has been taken over by the Citizens Bank & Trust Company under the presidency of W. A. Dicken, former state banking commissioner. Thirty-seven banks and trust companies, under the supervision of the state banking department, have been suspended since Jan. 1, 1929. The gross deposit liabilities of these institutions totaled $29,087,437. Of the banks re-opened or liabilities assumed, the gross deposit liabilities totaled $6,410,677. The re-opening of the re-organized Louisville Trust Company is expected to release gross deposit liabilities of $13,859,914. This would make a total of gross deposit liabilities released of $20,270,591. The state banking department estimates that amount of gross deposit liabilities of state banks in suspension from the period beginning Jan. 1, 1929, will be $8,816,846 after the re-opening of the Louisville Trust Company. All but nine of these state bank suspensions date after the closing of the Louisville Trust Company and the National Bank of Kentucky in Louisville last November. Liabilities of the National Bank of Kentucky are not included in the state banking departments statisties as it was under the supervision of the federal banking department. The National Bank of Kentucky has already paid a 67 per cent dividend. Banks that closed prior to November have been or are being liguidated. Kentucky's Tourist Trade. Geoffrey Morgan, acting executive secretary of the Kentucky Progress Commission, attributes the increase in gasoline consumption in Kentucky this year to the Progress Commission's efforts in advertising the state's tourist attractions. The first six months of this year showed an increase in gasoline taxes of $180,178.03 over the same period last year. "It certainly pays to advertise," said Mr. Morgan, citing these statistics. "Take the figures for January. The tax commission showed gasoline taxes collected in January of this year totaled $620,88550 as compared with $503,046.73 for January of 1930. That is an enormous difference. The reason for it is this: We had an open winter the first of this year. So the tourists in Florida began flocking home. We had been advertising Kentucky among the tourists and the result was many of these tourists returned northward by way of Kentucky."

19. August 23, 1931 Henderson Morning Gleaner Henderson, KY
Article from Henderson Morning Gleaner, August 23, 1931

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Under the Dome of the Capitol The banking situation in Kentucky is beginning to take on a bright as pect, in the opinion of C.S. Wilson, state banking commissioner Rural banks have been replenish ed, he said, by a bumper lamb crop which brought in much needed cash. There were fewer sheep on Kentucky farms this year but the number of lambs raised per 100 ewes was greater than last year. The crop was of excellent quality. "What's needed now," remarked Commissioner Wilson, "is a good price for the tobacco erop." Reopening in Louisville tomorrow of the re-organized Louisville Trust company will be the ninth state bank that has re-opened out of the group that closed their doors to conserve assets in the wake of crash in Louisville last November 17. Another one, the Guaranty Bank and Trust company of Lex ington, has been taken over by the Citizens Bank and Trust company under the presidency of W A Dicken, former state banking com missioner Thirty banks and trust companies, under the supervision of the state banking department. have been suspended since January 1. 1929. The gross deposit liabilities of these institutions totaled $29, 087,437 Of the banks re-opened or liabilities assumed, the gross deposit liabilities totaled $6,410,677 The re-opening of the re-organized Louisville Trust company is pected to release gross deposit lia bilities of $13,869,914. This would make a total of gross deposit liabilIties released of $20,270,591 The state banking department estimates that amount of gross deposit liabilities of state banks in spspension from the period beginning January 1, 1929. will be $8,816,486 after the re-opening of the Louisville Trust All but nine of these state bank suspensions date after the closing of the Louisville Trust company and the National Bank of Kentucky in Louisville last November Lia bilities of the National Bank of Kentucky are not included in the state banking department's statis ties as it was under the supervision of the federal banking department. The National Bank of Kentucky has already paid a 67 per cent dividend Banks that closed prior to No vember have been or are being liquidated. These banks with the date of their closing and their gross deposit liabilities are listed here: Hickman Bank and Trust company 862: Hargis Bank and Trust company, Jackson, February 5. 1930. $554,368: Grayson County Bank Leitchfield. March 10. 1930. $357, 254: the Peoples bank. Mt. Vernon, April 22. 1930. $260,855: LaGrange Bank and Trust company. La Grange, May 26. 1930. $352,232: Bank of Russellville, Russellville, June 12, 1930. $183,660; Hazel Green bank. Hazel Green, June 30. 1930. $184,054; Elsmere Savings bank, Erlanger, July 3. 1930. $192. 870: Vine Grove State bank, Vine Grove, $91,464 The banks that have re-opened since November of last year in clude the Security bank, Louisville, with approximate gross deposit lia bilities of $1,996,001 It was able to open for business a few days after November 17. Other banks, with their gross deposit liabilities, that have reopened are: McElwainMcGuire Bank and Trust company, Franklin, $373,509; Bank of St. Helens, Shivley, $412,834: Peoples bank, Sulphur, $132,950; Bank of Crestwood State bank, Crestwood, $139,297 Fern Creek bank, Bue ton. $292,638: Bank of Sturgis, Sturgis, $256,463 Two negro banks, the First Standard bank and the American Mutual Savings bank, which closed in Louisville November 17. were later consolidated into the Mutual Standard bank. The bank result ing from the merger closed May 7 of this year and is being liquidated. Liquidating agents have been appointed for the following banks closed since November: Owsley County bang, Beoneville, $100,329: Union Central bank, Louisville, $503,578: Bankers Trust company, Louisville, $553,279. Hopkins County bank, Madisonville, $717,587: Woodbury Deposit bank, Woodbury, $37,693; Citizens Bank and Trust company, Middlesboro, $495,977: Webster County bank, Clay, $164, 676; Bank of Ludlow, Ludlow, $636,359; Bank of Hardinsburg and Trust company, Hardinsburg. $523.381. Liquidating agents have not been appointed for five state banks which have closed since the first of July. These banks are: Citizens

20. August 23, 1931 The Paducah Sun Paducah, KY
Article from The Paducah Sun, August 23, 1931

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Under the Dome of The State Capitol By DWIGHT L. PITKIN Associated Press Staff Writer FRANKFORT, KY., Aug. 22 (AP) -The banking situation in Kentucky is beginning to take on a brighter aspect, in the opinion of C. S. Wilson, state banking commissioner. Rural banks have been replenished, he said, by a bumper lamb crop which brought in much needed cash. There were fewer sheep on Kentucky farms this year but the number of lambs raised per 100 ewes was greater than last year. The crop was of excellent quality. "What's needed now." remarked Commissioner Wilson, "is a good price for the tobacco crop." Reopening in Louisville Monday of the re-organized Louisville Trust company will be the ninth state bank that has re-opened out of the group that closed their doors to conserve assets in the wake of crash in Louisville last Nov. 7. Another one, the Guaranty Bank & Trust company of Lexington, has been taken over by the Citizens Bank and Trust under the presidency of W. A. Dicken, former state banking commissioner. Thirty-seven banks and trust companies, under the supervision of the state banking department, have been suspended since Jan 1, 1929. The gross deposit liabilities of these institutions totaled $29,087,437. Of the banks re-opened or liabilities assumed, the gross deposit liabilities totaled $6,410,677. The re-opening of the reorganized Louisville Trust company is expected to release gross deposit liabilities of $13,859,914. This would make a total of gross deposit liabilities released of $20,270,591. The state banking department estimates that amount of gross deposit liabilities of state banks in suspension from the period beginning Jan. 1, 1929 will be $8,816,846 after the re-opening of the Louisville Trust company. All but nine of these state bank suspensions date after the closing of the Louisville Trust company and the National Bank of Kentucky in Louisville last November. Liabilities of the National Bank of Kentucky are not included in the state banking department's statistics as was under the supervision of the federal banking department. The National Bank of Kentucky has already paid a 67 per cent dividend. Liquidate Closed Banks. Banks that closed prior to November have been or are being liquidated. These banks with the date of their closing and their gross deposit liabilities are listed here: Hickman Bank & Trust Company, Hickman, Dec. 30, 1929, Hargis Bank & Trust company, $59,826; Hargis Bank & Trust company, Jackson, Feb. 5, 1930, $554,368; Grayson County bank, Leitchfield, March 10, 1930, $357,254; the Peoples Bank, Mt. Vernon, April 22, 1930, $260,855; LaGrange Bank and Trust company, LaGrange, May 25, 1930, $352,232; Bank of Russellville, Russellville, June 12, 1930, $183,660; Hazel Green bank, Hazel Green, June 30, 1930, $184,054; Elsmere Savings bank, Vine Grove, $91,464. The banks that have re-opened since November of last year include the Security Bank, Louisville with approximate gross deposit liabilities of $1,996,001. It was able to open for business a few days after Nov. 17. Other banks with their gross deposits liabilities, that have reopened are: McElwain-McGuiar Bank & Trust Co., Franklin, $373,509; Bank of St. Helens, Shively, $412,824; Peoples bank, Sulphur, $132,950; Bank of Caneyville, Caneyville, $318,216; Crestwood State bank, Crestwood, $139,297; Fern Creek bank, Buechel, $151,279; Farmers Bank, Fulton, $292,638; Bank of Sturgis, Sturgis, $256,463. Two Negro banks, the First Standard bank and the American Mutual Savings bank, which closed

21. August 24, 1931 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, August 24, 1931

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Banking Situation Brighter In Kentucky, Official Avers; Bumper Lamb Crop Is Aid August The banking situation Kentucky to take in the opinion of State Rural banks been bumper brought in much needed There fewer sheep Kentucky farms this year. but number lambs raised per than last year was of excellent quality. "What's remarked price for the in tomorrow the reorganized Louisville Trust Company will ninth that has the group that closed their assets in wake the crash Louisville November Another the Guaranty Bank and Trust has been taken by Citizens Bank Trust Company under the former State Banking Commissioner banks and trust com panies, under supervision of State Banking Department. since January 1929. gross deposit liabilities these institutions totaled Of the banks liabilities assumed, the gross deposit liabilities totaled the reorganized Trust pected deposit This would total gross deposit liabilities leased State Bank ing Department that amount gross deposit the period January $8,816,846 reopening the Louisville Trust Company All but nine of these state bank suspensions after the closing the Louisville Company and the National Bank Kentucky last Liabilities the Bank Kentucky Banking supervision Federal Banking Department National Bank Kentucky already has paid per cent Banks that were closed before No been being liquidated. These with the date of their closing and their gross deposit liabilities, listed here: Bank Trust Company 1929 $595,862 Hargis Bank Trust Company February $554,368 County March the Peoples Bank Vernon April LaGrange Bank and Trust Company LaGrange, May $352,232 Bank Rus Hazel Hazel Bank Vine Grove State Bank, Vine Grove The banks that have been opened last the Bank deposit lia business few November Other banks, with their gross deposit liabilities that re-opened Bank Trust Peoples Bank Sulphur, Bank State Bank $139. Fern Creek Bank Farmers Fulton Bank of Sturgis, Two Negro banks. the First Stan Bank Mutual Bank. which closed Louis ville, later solidated the Mutual Standard Bank from being Liquidating agents been for following Owsley County Bank Booneville, Bankers Company $553,279 Hopkins County Bank, Woodbury Citizens Trust Middlesboro, $495,977 Webster CounClay Bank Bank dinsburg Trust $523,381 Liquidating agents not been five that the first July Bank Drakesboro Bank Barlow Butler Bank $145,348 Beaver 269.

22. August 24, 1931 The Kentucky Post Covington, KY
Article from The Kentucky Post, August 24, 1931

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PAGE BANK OUTLOOK CALLED BRIGHT Bumper Lamb Crop to Aid State Institutions COMMISSIONER REPORTS Good Price for Tobacco Needed Now, He Says FRANKFORT KY. Aug. Kentucky's banking situation has begun to take on bright aspect. That is the opinion expressed by S. Wilson, state banking com A bumper lamb crop that brought in cash has helped replenish rural banks, Wilson said Kentucky farms had fewer sheep but the number lambs raised per 100 greater than last year Excellent quality found in the crop. "What's remarked Wilson good price for the tobacco crop. Reopened Reopening Louisville today of the reorganized Louisville Trust Co. will be the ninth bank has reopened out of the group that closed their assets wake of the in Louisville Nov Another one, the Guaranty Bank Trust Lexington, has been taken over by the Citizens' Bank Trust under the presidency of W. Dicken. former state Thirty-seven banks and trust the the State Banking have been 1929 The gross of these totaled 437 or the banks reopened or liabilities sumed, gross deposit liabilities totaled Reopening of the reorganized Co. expected gross liabilities $13,859,914 make toliabilities released $20,270,591 The State Banking Department that amount gross deposit liabilities state will be the reopening of the Co. All But Nine All but nine of these state bank date after the closing the Trust Co. and the National Bank of Louisville last November. Liabilities of the National Bank of Kentucky are not included in the State Bankunder the supervision the Federal Banking Department. The National Bank Kentucky already has paid 67 per cent dividend Banks that were closed before November been or are being These with and their gross deposit liabilities, Hickman Bank Hickman, Dec 30, 1929 $595,862 Hargis Bank Co. Jackson Feb. $554,368 Grayson-co Leitchfield March 10. 1930, $357,254 Peoples Bank, Mt Vernon, April 1930, $260,855 Grange Bank Grange, May 26, 1930. $352,232; Bank of RusGreen 1930 $184,054: Elsmere Savings Grove State Bank, Vine Grove, $91,464. Others Come Back The banks that have been opened last year include the Security Bank. able open for few days after Other banks, their gross deposit liabilities, that been reopened Bank & Trust Bank of Helens, Shively $412,824 Peoples Grestwood State Bank Crestwood $139,297 Creek Bank Buechel $292,638; Bank of Sturgis Sturgis $256,463. Two Negro banks, the First Standard Bank and Muutal which Louisville later solidated into the Mutual Standard Bank. The from merger closed this year being liquidated. Liquidating agents have for the following banks closed since Novem Agents Not Named Bank, $100. 328 Union Bank, $503,578 Bankers Trust Co. Louisville $553,279 Hopkins-co Bank, Madisonville $717,587 bury Deposit Bank, Woodbury $37 Citizens Bank Trust Middlesboro, $495,977 Bank, Clay, $164,676 Bank of Ludlow, Ludlow $636,359 Bank of Har dinsburg & Trust Co. Hardinsburg Liquidating agents have not been appointed for five state banks that closed since the 1st These banks Bank Bank of Barlow, Barlow Deposit Bank, Butler Wayland Beaver State Bank, Weaksbury, $113,269.

23. August 26, 1931 Messenger-Inquirer Owensboro, KY
Article from Messenger-Inquirer, August 26, 1931

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KENTUCKY BANK SITUATION TAKES BETTER ASPECT Lamb Crop Aided Rural Institutions BY DWIGHT L. PITKIN (Associated Press Staff Writer) Frankfort, Ky., Aug. 26. (P)-The banking situation in Kentucky is beginning to take on a brighter aspect, in the opinion of C. S. Wilson, state banking commissioner. Rural banks have been replenishhe said, by a bumper lamb crop which brought in much needed cash. There were fewer sheep on Kentucky farms this year but the number of lambs raised per 100 ewes was greater than last year The crop was of excellent quality "What's needed now," remarked Commissioner Wilson, "is a good price for the tobacco crop." Louisville Trust to Reopen Reopening in Louisville Monday of the reorganized Louisville Trust company was the ninth state bank that has reopened out of the group that closed their doors to conserve assets in the wake of crash in Louisville last No ember 17. Another one, the Guaranty Bank & Trust company of Lexington. has been taken over by the Citizens Bank and Trust company under the residency of W. A Dicken, former state banking commissioner. Thirty-seven banks and trust companies, under the supervision of the state banking department have been suspended since January 1, 1929. The gross deposit liabilities of these Institutions totaled $29, 087 437. Of the banks reopened or liabilities assumed, the gross deposit liabilities totaled $6,410.677 The reopening of the reorganized Louisville Trust company is ex. pected to release gross deposit lia. bilities of $13,859,914. This would make a total of gross deposit liabilities released of $20,270,591. The state banking department estimates that amount of gross deposit liabilities of state banks in suspension from the period beginning January 1, 1929. will be $8,816,846 after the reopening of the Louisville Trust company. All but nine of these state bank suspensions date after the closing of the Louisville Trust company and the National Bank of Kentucky in Louisville last November. Liabilities of the National Bank of Kentucky are not included in the state banking department's statistics as it was under the supervision of the federal banking department The National Bank of Kentucky has already pald a 67 per cent dividend. Closed Banks Being Liquidated Banks that closed prior to November have been or are being liq. uidated. These banks with the date of their closing and their gross deposit liabilities are listed here: Hickman Bank & Trust company 862: Hargis Bank & Trust company, Jackson. February 5, 1930. $554,368; Grayson County bank, Leitchfield, March 10, 1930. $357.254; the Peoples bank, Mr. Vernon. April 22 1930, $260,855: LaGrange Bank and Trust company. LaGrange, May 26. 1930. $352,232;

24. January 6, 1932 The Kentucky Post Covington, KY
Article from The Kentucky Post, January 6, 1932

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SEE DISMISSAL OF BANK SUIT Receiver Files Petition Seeking Court's Advice KY Jan. The dismissal of the double liability suit of John C. Wickliffe Jr., the old Louisville Trust Co., 2000 stockholders, was predicted with the filing of petition for advice by Wickliffe The was pointed out. in his with John M. depositors and in seeking the dismissal the suit In the petition Wickliffe out that such suit would prove useless and No funds are available the on Wickliffe Commitported. stockholders and tee, creditors, had adopted asking for the dismissal the Judge Marshall. who took the petition pected to hand down a decision by Thursday