21886. Boston National Bank (South Boston, VA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
8414
Charter Number
8414
Start Date
September 17, 1931
Location
South Boston, Virginia (36.699, -78.901)

Metadata

Model
gpt-5-mini
Short Digest
785dcbb7

Response Measures

None

Receivership Details

Depositor recovery rate
28.0%
Date receivership started
1931-07-10
Date receivership terminated
1939-03-24
Share of assets assessed as good
30.2%
Share of assets assessed as doubtful
45.9%
Share of assets assessed as worthless
23.9%

Description

Newspaper articles (Sept 17-18, 1931) state a receiver (E. M. Webster) is the receiver for the Boston National Bank of South Boston and that the bank's receiver instituted bankruptcy proceedings against Huwil Stores. No article mentions a depositor run or a temporary suspension/reopening; the bank is in receivership (court-appointed), so classified as suspension leading to closure/receivership (government action).

Events (3)

1. October 23, 1906 Chartered
Source
historical_nic
2. July 10, 1931 Receivership
Source
historical_nic
3. September 17, 1931 Receivership
Newspaper Excerpt
bankruptcy proceedings were instituted by E. M. Webster, receiver for the Boston National Bank of South Boston, alleging the chain store company was indebted to the bank ... The bankruptcy proceedings were instituted by E. M. Webster, receiver for the Boston National Bank of South Boston, alleging the chain store company was indebted to the bank to the extent of $21,000 ... appointed E. A. Blackard, receiver for the HuWil Stores. ... proceedings were instituted by E. M. Webster, receiver for the Boston National Bank of South Boston, alleging the chain store company was indebted to the bank to the extent of $21,000 ... (Roanoke Times, Sept 17-18, 1931).
Source
newspapers

Newspaper Articles (2)

Article from The Virginian-Pilot, September 18, 1931

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Article Text

Receivers Named For Huwile Stores Blackard been appointed the Huwile Stores, chain store organization operating North Carolina with home Virginia offices in South Boston, according entered by Judge Luther the RichWay mond division of the District Federal Court. proceedings were instiBankruptcy tuted by Webster, receiver for the Boston National Bank of South Boston, alleging the chain store company was indebted for secured notes and that protect the bank's The assets the Huwile company given and the liabilities as bank's receiver was represented M. Tuck, Halifax County, and former Senator Aubrey Strode,


Article from The Roanoke Times, September 18, 1931

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Article Text

NAMES RECEIVER FOR HUWIL STORES Norfolk. Sept. 17 Federal Judge Luther B. Way has appointed E. A. Blackard. receiver for the HuWil Stores. Inc. chain store operating in Virginia and North Carolina with home offices at South Boston, Halifax county The bankruptcy proceedings were instituted by E. M. Webster, receiver for the Boston National Bank of South Boston, alleging the chain store company was indebted to the bank to the extent of $21,000 on and that receivership was necessary to protect the bank's creditors and depositors. W. M. Tuck, senator-designate from Halifax county and former Senator Aubrey E. Strode, of Amherst, represented the bank's receiver. The of the HuWil company were given as $142,690 and the liabilities at $153,323. The case is docketed in the Richmond division of Judge Way's court and the referee in bankruptcy at the capital will call a meeting of creditors later. BASS FISHING NEAR LYNCHBURG REPORTED GOOD Richmond, Sept. 17.-Commissioner Hart, of the state game and inland fisheries commission, has been notified by local game wardens that bass fishing opposite and above Lynchburg is good, but that the Shenandoah river south of Bixbee's Ferry is cloudy, making fishing unfavorable. W. E. Calohan, game warden at Rustberg, advised the commissioner that bass fishing opposite and above Lynchburg is good, and catches are better than usual. can be found for fishing parties in Lynchburg and adjacent counties, he said. DANVILLE EDITOR WEDS St. Petersburg, Fla., Sept. 17 William Shands Meacham, editor of the Danville Register, Danville, Va., was married to Miss Margaret Ball Henkel. daughter of Mr. and Mrs. Herbert Henkel of Danville, here today at St. Peter's Episcopal church. The wedding was performed by the Rev. Dr. Henry S. Whitehead and attended only by the immediate family.