2143. American Bank & Trust Company (St Petersburg, FL)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
trust
Start Date
June 1, 1933*
Location
St Petersburg, Florida (27.771, -82.679)

Metadata

Model
gpt-5-mini
Short Digest
832abbc51e4141fb

Response Measures

None

Description

Articles (Oct 1933) refer to Guy B. Shepard as liquidator for the American Bank & Trust Company and describe foreclosure actions by a substitute trustee and litigation over hotel bonds. No run or temporary suspension/reopening is described; the bank appears to be in liquidation/receivership and effectively closed. OCR errors corrected minimally (e.g., 'Merie'/'Merle' Cook treated as same substitute trustee name in articles).

Events (2)

1. June 1, 1933* Receivership
Newspaper Excerpt
Guy B. Shepard, as liquidator for the American Bank and Trust company, to halt foreclosure proceedings on the Crawford hotel property ... Guy B Shepard, as liquidator for the American Bank and Trust company, and others, and Pearl Wallace Crawford, owner of the hotel.
Source
newspapers
2. November 1, 1933* Other
Newspaper Excerpt
Whether or not the Crawford hotel ... will be sold Nov as advertised by Merle Cook substitute receiver, to satisfy bond issue will be decided by Judge T Frank Hobson ... Merle Cook, substitute receiver.
Source
newspapers

Newspaper Articles (2)

Article from Tampa Bay Times, October 5, 1933

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Article Text

JUDGE VACATES DAYTON DECREE IN HOTEL CASE Hobson Grants Rehearing to Gorovs, Who Seek to Halt Foreclosure Mr. and Mrs. James Gorov. plaintiffs in suit against Guy B. Shepard, as liquidator for the American Bank and Trust company, to halt foreclosure proceedings on the Crawford hotel property, 717 Central avenue, won an important point in their case Wednesday when Circuit Judge T. Frank Hobson granted petition for rehearing of the case and vacated final decree handed down by Circuit Judge O. L. Dayton last June. The petition for rehearing was filed by the law firm of Lambdin & Ramseur, who, with E. B. Ellis and E. C. Watson, are representing the plaintiffs. After vacating Judge Dayton's decree, Judge Hobson issued a modified decree which, among other things, authorizes the plaintiffs to oppose further the foreclosure proceedings which have been started by Merie Cook, as substitute trustee. Cook, named substitute trustee under the decree signed by Judge Dayton, who has since retired from the'circuit court bench. retains that position under Judge Hobson order. Fighting Foreclosure Granting of the petition for a rehearing opened the way for the plaintiffs to resume their fight to stop foreclosure action. They are seeking reconveyance of the property instead of a foreclosure on the grounds that the reconveyance procedure would cost only about $300 white the foreclosure action would cost about $3,000. Mr. and Mrs. Gorov are bondholders. In asking for the rehearing. counsel for Mr. and Mrs. Gorov alleged that the decree naming Cook substitute trustee was entered without notice and without opportunity for them to examine or object to the appointment. They also alleged that the case bond issue of approximately $93,000 and no bond was required to be posted by Cook. The substitute trustee is said to have advertised the hotel property for sale and the plaintiffs claim that the sale, If permitted, "seriously jeopardizes" the interests of the holders of the $93,000 worth of bonds. Other Cases Assigned Judge Hobson's docket for today and Friday follows: Thursday: Clem S. Benner vs. Margaret Benner, divorce: E. E. Rieck, et al, VS. George W. Beach, trustee. motion: Catherine M. Brown vs. Bennett A. Stewart. motion for decree pro confesso: Pass-a-Grille Beach vs. Florida Bond Exchange, motion to dismiss: Tax Securities corporation VS. Anderson Band Saw company, petition for rehearing Friday: Martha H. Townsend VS. Thomas G. Townsend, final hearing on alimony and attorney's fees; John F. Carson vs. F. M. McClintock, motion to amend bill, motion for appointment of receiver, and motion for decree pro confesso; Ethel Ann Chalker V8. Cramer B. Potter, motion for modification of decree.


Article from Tampa Bay Times, October 20, 1933

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Article Text

JUDGE TO RULE SATURDAY UPON SALE OF HOTEL Crawford Case Creates Much Interest: Many Lawyers Attend Hearing Whether or not the Crawford hotel on Central avenue will be sold Nov as advertised by Merle Cook substitute receiver, to satisfy bond issue will be decided by Judge T Frank Hobson in circuit court here Saturday morning Judge Hobson Thursday granted motion by Attorney H. W Hol. land, representing Cook and Guy B Shepard, as liquidator for the Amer ican Bank and Trust company. and Pearl Wallace Crawford. owner of the hotel, to dismiss an amended supplemental bill of complaint filed by Walter G. Ramseur and Carl Lambdin on behalf of a group of the hotel's bondholders, on the ground that the 1931 chancery act of the state of Florida provides that in filing suit the opposing must given notice before the bill filed. Holland contended that Lambdin and Ramseur and other for the bondholders failed to him, as the opposing counsel such notice of the filing of the bill Saturday Is Date The dismissal of the amended bill. however, does not mean the sale of the hotel will be allowed to proceed, for Judge told Attorneys Lambdin and Ramseur they could give Attorney Holland notice and then refile the same bill Judge Hobson set Saturday morning at 10 o'clock as the time for hearing of motion to stay the foreclosure sale. A number of represent. ing the bondholders attended the hearing Thursday and there has been great deal of interest in the case, due to the that large part of the $93,000 bond issue on the hotel is held by local people and because of the fight that has been made against the appointment by former Judge O. L. Dayton of Merie Cook as substitute trustee. The case appears on the court record as Mrs. Bess Gorov, joined by her husband, J. James Gorov, and other bondholders, Guy B. Shepard, as liquidator for the American Bank and Trust company. and others, and Pearl Wallace Crawford, owner of the hotel. Mrs. Gorov brought the suit to halt the foreclosure proceedings, contending that the foreclosure will cost not less than $3,000, while a reconvey she can work out refunding of the hotel's debt, would cost not more than $300. Coslick Case Up In the case of the Union Trust Coslick and others, on application for bond ing an appeal to the supreme court from the local court action in pointing receiver for the Albemarle hotel. Judge Hobson granted the petition and fixed the amount of the supersedeas bond at $12,500 Frank M. Harris, representing the trustee. filed the application for the bond and has already filed his appeal with the court Paul Stansbury represents the defendants in the