Schmelz National Bank - Newport News, VA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 11028
Charter Number: 11028
Start Date: May 7, 1932
Location: Newport News, Virginia (36.979, -76.428)

Metadata

Model: gpt-5-mini
Short Digest: be1e44db

Response Measures

None

Receivership Details

Depositor recovery rate: 94.6%
Date receivership started: 1932-10-27
Date receivership terminated: 1937-08-27

Description

Newspaper notice (Daily Press, 1932-05-07) states 'The SCHMELZ NATIONAL BANK ... is closing its affairs. All note holders and other... are hereby notified to present their notes other claims for payment.' No run or withdrawals are described. This appears to be a voluntary winding up/closing.

Events (4)

1. June 30, 1917 Chartered

Source: historical_nic

2. March 18, 1932 Voluntary Liquidation

Source: historical_nic

3. May 7, 1932 Suspension

Cause: Voluntary Liquidation
Cause Details: Notice states the bank 'is closing its affairs' and calls for presentation of notes and claims, indicating voluntary winding up/closing.
Newspaper Excerpt: THE SCHMELZ NATIONAL BANK, of Newport News, located at Newport News, in the State of Virginia, is closing its affairs. All note holders and other of the are, therefore, hereby notified to present their notes other claims for payment. (Signed) R. HOLT, President.
Source: newspapers

4. October 27, 1932 Receivership

Source: historical_nic

Newspaper Articles (1)

1. May 7, 1932 Daily Press Newport News, VA

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Article Text

13 Auction and Legal 47 TO THE STOCKHOLDERS OF THE JEFFERSON BANK WAREHOUSE STORE CLOSING! BIG CASH SALE OF FURNITURE! Entire stock comprising thousands of dollars worth good used and furniture to be sacrificed for quick sale. Come at once and share in the bargains. Everything sold for cash. Nothing charged sale prices. poster selling at $9.95. kitchen cabinets selling at $19.95. overstuffed suites selling at $59.00. fiber chairs and rockers selling at $8.95. refrigerators selling at porch gliders selling at boudoir chairs selling at $3.95. $23.50 wood porch sets selling at $12.95. fiber suites selling at $24.95. $55.00 selling at $29.00. $125.00 bedroom selling at fiber ottomans selling at $2.95. heating $49.00. $3.50 arm tables selling at $1.95. NEWPORT NEWS FURNITURE CO. WAREHOUSE, Thirtieth Street and Virginia Avenue PLEASE TAKE NOTICE: that the The Jefferson Bank is hereby be held in the Touse said The Jefferson Bank, Newport News, Virginia, on the 17th day May, 1932, 11 o'clock The general object of said meeting take into consideration and act upon an agreement entered into by the Citizens and Marine Bank of Newport News, and of this bank, respectively, whereby the said two are be merged ed into one bank under the name of Citizens Marine Jefferson which merged corporation shall be authorized to conduct branch bank No. 2504 Jefferson Avenue, Newport Virginia, and to ratify, approve disapprove of the Board of Directors of The Jefferson Bank adopted April 29, .932, authorizing merger or consolidation, and directing this notice to be given. By order of Directors at meeting held April 20, 1932. FRANK ROTH. (Secretary). Newport News, Virginia, April 29,1932. 47 THE SCHMELZ NATIONAL BANK, of Newport News, located at Newport News, in the State of Virginia, is closing its affairs. All note holders and other of the are, therefore, hereby notified to present their notes other claims for payment. (Signed) R. HOLT, President.