1.
March 30, 1933
Hickory Daily Record
Hickory, NC
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RICHMOND BANK ARE NAMED BY COURT
RICHMOND, Va., March for the American Bank and Trust were named today by Judge Julien Gunn. the circuit of the suit brought by Salle, positor. Sherlock Bronson, local Vertner, an officer of the bank. The complaint alleges that complainant believes the appointment for the conservation assets not only necessary prevent irreparable loss to his rights and interests and those other but necessary prevent of the assets which will itself the prevent of constructive steps the general direction protecting interests of of the bank were notified today that services required temporarily after Friday.
2.
May 3, 1933
Richmond Times-Dispatch
Richmond, VA
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Broadway Bank Receives Report
Operated to Date Minus Cost to Depositors
The Broadway Bank and Trust Company receivership been operwithout cent cost the Lati for the instituwith Guy B. the just filed with Robert Pollard Equity Court the deposit American Bank and Trust now closed. There present hand and due from greater part this due only being cash Included the assets are large holdings which cannot without depositors, the declared.
3.
September 27, 1933
The Richmond News Leader
Richmond, VA
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American Bank Receiver Outlines Procedure on Col lateral With RFC.
Noteholders of the American Bank and Trust whose notes are being held by the RFC collateral for former bank have deposit with the bank to than the their note will receive first toward their notes when the some Logan Ritchie, the ceivers, said today Judge Julien Gunn has Issued decree in the city circuit authorizing the the American bank to from the RFC out free funds in their hands When asked much money would be used making these chases, Mr. Ritchie replied that he did know preesnt. "We will with each our Mr. Ritchie said. pose man has on deposit and owes us his note being posof the RFC. We will tell that man that soon as he gives we will buy his note from the RFC and offset with his $100
Continued on Page Four.
4.
November 14, 1933
The News and Advance
Lynchburg, VA
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Stockholders Fight Against Dividend Return
Richmond, Nov. 13 than two hundred the closed American Bank and Trust today move to feat efforts the bank's receivers recover than received since September, 1930. Those meeting today were the fendants in the by the ceivers to recover the money. formed and of to take proper steps to defeat the move.
5.
December 31, 1933
The Roanoke Times
Roanoke, VA
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BANK RECEIVERS' FEES PROTESTED
Richmond Mayor Tells Judge Citizens "Aghast" at American Trust Payments
Dec vigorous protest attorneys the closed American Bank and Trust Richmond was voiced today by Ful. mer Bright mayor in letter to Judge Julien Gunn, of Richmond city Aghast "Our aghast founded bewildered speechless princely this time pression general suffering and Mayor Bright "The money the American Bank represents large part the savings little children young in poorly paid laborers and of broken widows and orphans that not one cent of all the depositors the Bank made the of the fees paid the each one the rate of approximately Mayor Bright's protest was voiced as chief city Richthe He compared the sal. of members of board of the city Virginia the supreme court of Virginia $7,500 members of the House of Representatives the United $10.000: the cabijudges supreme United $20,000.
Holds Epough salbeginning with January orbitant and should scaled down submit that incentive lessened on the part the officers to close affairs the long submit that are and that the excessive are paid ceivers should be and in consideration of the preservation of the assets our stricken pray your reconsideration the allowances alreedy and of those to be made in the future. Judge Gunn recently allowed the for receivership from time receivers appointed through December which Mayor Bright puted rate of $36,000 per the same Judge enorder salaries January and tinuing the banks affairs are wound up at $750 per month each,
6.
January 3, 1934
Ledger-Star
Norfolk, VA
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BRIGHT FIGHTS LARGEFEES
Richmond Mayor Considers Legal Steps to Cut Pay Of Bank Receivers
Richmond, Va., Jan. Fulmer Bright of Richmond planned to confer today with City Attorney Cannon on the advisability of taking legal steps support of his what he had against described the "princely" fees the receivers closed American Bank and Trust word was here Senator Harry Byrd written Jesse Jones, RFC chair- had asking that fees of receivers for the bank be reduced. Byrd said considered the amount of the fees excessive. and inquired of Jones whether something could not in Washington scale down the fees. The American Bank already has obtained loan $2,750,000 from the RFC and applicant for additional funds.
7.
January 6, 1934
The Roanoke Times
Roanoke, VA
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Draft Bill To Put Bank Liquidation In Hands of State
Richmond, to be Jan. introduced in the general designed to place closed the the state banking and receivership intrusted prevent large committee lowing of four officials in Mayor offices today. Judge Thomas W. Ozlin, of the state corporation State Banking Bristow, Senator John W. Wicker, Deletion, will the Richmond city delegamake report Monday afternoon another conference with the mayor, state banking officials meeting today climaxed the test Mayor Bright against the what cessive fees' of the American Bank and Trust Richmond and their counsel. Two the bank's three receivers have agreed accept compensation the mayor, today still hopeful the Bank which than $60,000 Substitute.
Judge Julien awards criticized Mayor Bright today asked Pollard designate another judge hear the suit filed the bank's receivers against directors recovery $600,000 dividends alleged paid substitute is the their will early for trial of the suit against directors. Judge Gunn informed the governor that depositor the closed bank desired not serve "for other Mayor Bright said today he felt that state legislation helpful to depositors which Attorney Cannon will defer for days the filing the city's formal application review ceivers' and attorneys' compensation.
8.
January 11, 1934
Richmond Times-Dispatch
Richmond, VA
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American Bank Heads, Bristow Hit in Report
Withdrawal Limit of 5% Said Asked by Concern Prior to Its Closing
Criticism State Banking Commissioner M. was with poor business practices the American Bank and Trust long period of report filed yesterday Court by drew Christian, counsel for the receivers closed bank's Mr. Judge Gunn, aggravated the recent the End the Trust ComMr. that two acquired were large borrowers the American Bank Disclosure that the bank on March 1933. the day its closing. sought permission checks and savings to per was cited by Attorney Christian affording sharp the surprise later the was not March 13 along with banks was saying on June that Ameriknown later his examiners did the insolvent capital had been greatly imChristian Action the bank seeking ited Christian interesting the subsequent claims the was was permitted by President and his like the Richmond the stricted conduct of in the Mr Christian asserts this action extremely in the light the claims of the bank that was surprised was not permitted by President and his subordinates to reopen like the other Richmond banks for the unrestricted Mr. Christian further in this will recalled that at May any director or officer, Mr. Sands, stockholders special- said the period between March and March 13, 1933: With our large resources
Continued on Page 19. Column
9.
January 26, 1934
The Roanoke Times
Roanoke, VA
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BANK RECEIVERS' FEES ARE CUT ONE-FOURTH
Richmond Jan. 25 allowed of the closed American Bank and Trust Richmond by city circuit court were reduced 25 per cent in decree signed today by Judge Julien Gunn. While the reduction is permissive rather than mandatory arising from the voluntary offer the T. Sherlock Bronson and the of Commerce and their fees in the public in an rebate of the closed The action was taken Judge Gunn following hearing before him petition of the city of Richmond for reconsideration of the allowed by court in an order issued December 28 order Judge Gunn set the this Mr Bronson and the Bank and Trusts each for their from their in June the end the and of Mr. Moore at for October to the end of service from year.
10.
January 28, 1934
Richmond Times-Dispatch
Richmond, VA
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RFC Select to Socialists Aids to Revalue To Hear Senior, Assets of Bank Leader in Party
Local Group to Be Picked; But Further Loan Is Unlikely, Fleming Indicates
From The Times-Dispatch's Washington Corresponden Jan tion within few with re-appraisal American Bank and Trust pany assets determine whether can Robert Fleming. chairman of the district said today This action is in accord with the recently when the receivers and Senator Byrd of Virginia RFC urging that the possible enable additional payments Fleming showed no as chances the loan, ing out that the reduced the amount his approved when the recent loan was made difficulty he explained. finding in bank sufficiently to warrant against five the prescribed period for to the 'We do not intend niggardly not believe said Fleming have and will all can release funds deposithe But are agents the and can only so loan of was granted closed American Bank Trust the RFC on December 23. distribution 15 per cent dividend The receivers. however, had applied for loan which they said was justified by the value bank's disappointment the size of the loan, they diately asking for an tional amount This additional loan has been consideration RFC officials in Washington now for weeks.
National Secretary to Talk on Attitude of Group to F. D. Wednesday Night
Clarence Senior. national secretary of the Socialist party, will speak in Richmond night. January 31, under the auspices of the local Socialist the subject, "Can Capitalism Save Itself?" He will explain the Socialist attitude towards the Roosevelt administration and its policies of social reform at public meeting in the auditorium of the Labor Temple Eleventh and Marshall He will to Wednesday from New York, where he is attending meeting of the national executive of the Socialist party. Upon his arrival here he will confer with Socialist leaders at the party's headquarters, 819 West Cary previous to his speech the Labor Temple Wednesday At this conference he will and plans for participation the municipal and the November After his here he will tour the South before his fice the Socialist national headquarters Chicago Mr. Senior held office as Socialist national nearly five years. during which he has resented the American Socialist party two international Socialist congresses Vienna Paris. He extensively Europe, studying and Socialist the University he served sistant the Kansas League Municipalities, labor organizer, editor. and secretary of the Cleveland Federation of Labor, his election 1929 to his present addition duties party secretary, he managed the campaign Norman Thomas, candidate for President 1932. He Missouri.
11.
March 23, 1934
The News and Advance
Lynchburg, VA
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Demurrer To American Bank period last with last The compared Receivers Suit Overruled February were drugs. year March 22 hardcent; groceries, 37.3 per barrier trial of $650,- 60.5 cent; ware, 000 suit brought of the cent. cent, and American Bank and Trust the increases Richmond against officers and direc- groceries, drugs, per the the ground 63.9 per and dry goods they out 68.7 three year period, was cent. today. lines reporting on the end of February Judge John Ingram. in city their shelves There percentages cuit overruled demurrer showed per hardware, holding that the receivers have were. shoes, 18.6 per right to bring the Unless 18.4 groceries, goods 87.8 per cent. appeal taken this decision the and are keeping come up on The wholesale gains abreast the in
12.
July 14, 1934
Richmond Times-Dispatch
Richmond, VA
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Twenty-nine State Banks Closed in '33, Is Report
Twenty-nine Virginia State banks either restricted denied reopen after the banking holiday which March forth the annual Bristow banking and insurance, which was made public Of these went into receiverships. The total number of State banks clined from 238 to 203 during the year. Of the suspended restricted institutions eight reopened and eleven under or suspension at end 1933 year saw the organization of five new four dropped from the list or The that of the six banks receivership. the American Bank and Trust Richmond had of the 324 assets Mr. Bristow reported that fifteen banks joined the Federal Re. system during the year, and said that the banking division urging banks join the system He of the of his staff during year great trials the part of the examiners and other personnel.