Pallotti, Andretta & Company (Hartford, CT)

Episode Information

Episode UID
51007371567
Episode Type
Run → Suspension → Unsure
Bank Type
private
Bank ID
5100737 routing
Routing Number
51-0073
Start Date
July 1, 1930*
Location
Hartford, Connecticut (41.764, -72.685)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
0a3f11c10c049982

Response Measures

None

Description

Commissioner sought to avoid liquidation; sources do not state final disposition.

Events (3)
1. July 1, 1930* Run
Cause
Local Banks
Cause Details
Runs had been in progress since July and were linked to local bank failures and depositor panic (reports mention earlier failures/withdrawals such as D'Esopo & Co. and contagion to Riverside Trust).
Newspaper Excerpt
were suspended today by Bank Commissioner Lester Shippee, following runs on both institutions which have been in progress since last July.
Source
newspapers
2. December 23, 1930 Suspension
Cause
Local Banks
Cause Details
Suspended by state Bank Commissioner following prolonged runs and contagion from other local banking failures; action taken to protect depositors and assets.
Newspaper Excerpt
Two Hartford banks, the Riverside Trust company, and Pallotti, Andretta and company, were suspended today by Bank Commissioner Lester Shippee, following runs on both institutions which have been in progress since last July.
Source
newspapers
3. December 24, 1930 Other
Newspaper Excerpt
Clearing House banks...announce their willingness to give immediate relief where needed and loans to depositors of the Trust Company; statement affirms confidence that depositors will eventually be paid in full and plans to avoid liquidation where possible.
Source
newspapers

Newspaper Articles (13)
1. December 23, 1930 Corsicana Daily Sun Corsicana, TX
Article from Corsicana Daily Sun, December 23, 1930

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PRESIDENT BANKING COMPANY FOUND SHOT TO DEATH IN HOME ADDITIONAL BANKS OVER NATION FAILED TO OPEN TUESDAY BALTIMORE, Dec. 23.-(P)-T. Edward Hambleton, 44, president of the banking firm of Hambleton and company, was found shot death in his home at Luthersuburb, today. Judge William Butler, corgave verdict suicide. was caused by a bullet wound the head. The banker, president in New York, Baltimore and European SOciety, had just returned from big game hunting expedition in during which his wife the former Adelaide McAlpin, daughter of the New York hotel magnate, established in Reno to seek They had been married for 20 years. Mr. Hambleton was said by his friends to have become depressed over his martial difficulties and the death of his brother, John Hambleton, who was killed in an airplane crash year ago. Miami Bank Closes MIAMI, Fla., Dec. The City Bank of Miami Beach, which heavy run following the closing of the City National Bank in Miami, did not open today. Clements, vice-president and cashier said the bank closed the order of state bank examiners to protect its assets. The bank had capital stock of $100,000, surplus $50,000 and deposits of $600,000 at the last call. Two Connecticut Banks Closed HARTFORD, Dec. Hartford banks, the Riverside Trust company, and Palloti Andretta and company, were suspended today by Bank Commissioner Lester Shippee, following runs on both institutions which have been in progress since last July. Pallotti, Andretta and company, control of the Riverside own Trust company. The state for 1930 gave the capital of the Riverside Trust company $400,000, surplus $600,000, undivided profits $244,229, savings deposits $643,805 and commercial deposits Philadelphia Bank Robbed. PHILADELPHIA, Dec. -Several robbers today held the North branch the Plaza Trust company and escaped with about $7000. Alabama Bank Fails. BESSEMER, Dec. City National Bank and the Bessemer Trust and Savings bank failed to open today. Officials said they were acting for the best interests of depositors. Virginia Bank Suspends. RICHMOND, Dec. state division of insurance banking today announced that the Peoples Bank of Gretna, had suspended business. The bank capitalized $50,000 and had deposits of $474,000. O. Ramsey was president. Fall To Enter Vault. AUSTIN, Dec. proved poor excavators last night attempted to dig their when way into the Blanco National Bank at Blanco, according to telephoned information received here. They dug to steel wall envault and then gave closing it up for bad job. Georgia Bank Closed. WASHINGTON, Ga., Dec. (AP)-A notice on the door of the National Bank of Wilkes county here today said the institution had been closed pending a meeting of the board of directors. The bank was capitalized at $50,000 and assets were reported at $400,000. Florida fruit box containing 45 oranges, grapefruit, 20 tangerines, 100 kumquarts, jar fruit preserves. Express prepaid anywhere Growers Packing Company, P. O. Box 282, Tampa, Fla.

2. December 23, 1930 The Dispatch Moline, IL
Article from The Dispatch, December 23, 1930

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BANK MIAMI HAS NOT OPENED TODAY By Miami, Dec. City Bank Miami Beach, which went heavy yesterday following the closing the City National bank in Miami, did not open this Clements, vice president and said the bank closed at the order state bank examiners to its The capital stock of bank had surplus $50,000 and deposits of $600,000 at the last call. Conn., Dec. Two Hartford the Riverside Trust and Pallotti, Andretta company were suspended today by company, Bank Lester Shipfollowing runs on both institutions which have been in progress since last July. Pallotti, Andretta and company control of the Riverside Trust The state manual for 1930 the Riverside Trust the capital surplus 000, profits deposits and commercial ing deposits

3. December 23, 1930 The Evening Sun Hanover, PA
Article from The Evening Sun, December 23, 1930

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CITY BANK OF BEACH, CLOSES MIAMI, City Bank of Miami Beach, which underwent heavy run yesterday following closing of the City National Bank of Miami, did not open this morning. Clements, vice-president and cashier, said the bank closed on orders of the state bank examiners protect assets. The bank had capital stock $100,000, surplus of and deposits $600,000 the last TWO INSTITUTIONS ARE SUSPENDED AT HARTFORD, CONN. HARTFORD, CONN., DEC. Hartford banks, The Riverside Trust Company and Pallotti Andretta and Company, were suspended by Bank Commissioner Shippee following runs on both institutions today which have been in progress since last July. Pallotti Andretta and Company owned control of the Riverside Trust Company. The state manual for 1930 gave the capital of the Riverside Trust $400,000; surplus, $600,000; undivided profits $244,229; pany posits $643,805 commercial deposits PEOPLES BANK OF RICHMOND, VA., DEC. state division insurance and banking today that the Peoples Bank of Gretna, had pended business. An examiner from the state division sent take charge. The bank was capitalized and had deposits of Ramsey was president.

4. December 23, 1930 Pittsburgh Sun-Telegraph Pittsburgh, PA
Article from Pittsburgh Sun-Telegraph, December 23, 1930

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PHILA. BANK VISITS HOOVER, FLAYS NORRIS placed before President Hoover but he has said nothing Meanwhile the Republican independent group in the Senate for serious diswas preparing Norris himself is. pute. statement last night desued and today Senanouncing tor Brookhart. Republican indeof issued statement which said: "Secretary Mellon has no right to set up a Republican committee with money to over. ride any Republican Senator who listens to the voice of the people. "Robert H. Lucas says there a cancer in the Republican party and that it must be cut out. He is right. But he does not recognize the cancerous part. The personal head of this cancerous growth is Andrew W. Mellon. "Robert H. Lucas is only little wart under the toenail of this big personal- USED G. O. FUNDS The Senate Campaigns Funds Committee. which Lucas had financed some antiNorris campaigning in Nebraska. yesterday found Lucas had used funds of the Republican National Committee in securing the loans he made from bank here to pay the anti-Norris propaganda Stunned by the furore of the sudden controversy. the Senate Republican leadership is watching silently Senate Republicans insist the issue of Norris right to party recognition is not up them and they are watching the attitude of the President and the national committee toward Lucas The Kentuckian still has his job and. therefore. apparently the support of the party On reaching the capitol. Representative also heads the Appropriations Committeesaid he had President Hoover: "It is the duty of every Republican to stand behind Mr. Lucas. Although all might not agree with the way Mr Lucas did things am sure every real Republican agrees with his idea. Wood later declared "It is time for the Republicans to speak out in meeting and rid themselves of people like Norris. He is nothing but wolf in sheep's clothing. Why. would lot rather have to deal with Democrat in the Senate, than pusedo Republican like the Nebraskan.' and stockholders having claims of more than $2,000,000 against the closed Bankers Trust Company and its 19 branch offices were assured to. day the bank is solvent and that they will receive 100 cents on the Plans already are under way for the reorganization and the early re-opening of the huge institution according to Samuel H. Barker president of the 000 concern. MIAMI Fla., Dec. The City Bank of Miami Beach which underwent heavy run yesterday following the closing of the City National Bank in Miami. did not open this morning. HARTFORD Conn. Dec. Hartford banks. the Riverside Trust and Pallotti Andretta & Co., were pended today by Bank Commissioner Lester Shippee. followon both institutions ing runs which have been in progress since last July. BESSEMER Ala. Dec City National Bank the Bessemer Trust and Savand ings Bank failed to open today. Officials said they were "acting for the best interests of depositors.

5. December 23, 1930 The Journal Meriden, CT
Article from The Journal, December 23, 1930

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HARTFORD Riverside Trust Co. and Pallotti, Andretta & Co. CALLED SOLVENT of Depositors Traced to April Hartford, Dec. 23. Hartford banks, the Riverside Trust company, and Pallotti, Andretta and were suspended today Lester Shippee following runs both institutions which been in progress since July. Suspension notices posted on the doors the banks beo'clock this morning and tomers found the doors closed hour. Pallotti, Andretta and company control of the Riverside Trust company. Shippee announced the Riverside Trust solvent,' while the Pallotti, Andretta and somewhat but likely the depositors may adequately runs both banks became last Many Italian Depositors. Several hundred persons passing Pearl street, stopped read the susnotice posted in the window the Riverside Trust company. Most the people interested Italians who had money deposited there Anxious men women waited the doors for permission go into the bank and take out their securities and other valuables deposited vaults. Two policemen were stationed inside the bank to keep order of an Those who had in the safe deposit vaults were to take them out. Men women to seen this folios and velopes filled contents of vaults rented by had sums of them ready for deposit. The on the Hartford banks believed to have indirectly due the failure D'Esopo and company, private April. Panicky depositors said to have feared that Pallotti, Andretta and company might not be in sound dition knowing that owned controlling in the Riverside, depositors of the latter bank withdraw their money. This action is reported have affected Riverside and then Pallotti. Andretta company. until both to closed protect the interof depositors. Bank Commissioner Shippee anBounced that he would effort to avoid liquidation the RiverTrust company. This has $5,300,000. Its capital $400,000, surplus deposits and savings depos$1,084,000. The total assets Pallotti, Andretta and company are capital, $250,000; surplus, $300,000: deposits. $204,000, and savings deposits, $2,191,00. Branch Bank Closed. New Haven, Dec. The Pallotti, Andretta company, bankers in lower Chapel street, closed noon today order State Bank Commissioner Shippee. This action was taken because the closing the main fice of the company at Hartford. also done precautionary measure against very heavy run depositors they had heard the commissioner's action at the Hartford office. Prior to the noon hour Chief Philip officers vicinity the bank. The closing, however, was without incident.

6. December 23, 1930 The Fresno Bee Fresno, CA
Article from The Fresno Bee, December 23, 1930

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State Takes Over Chelsea Bank In New York PROFFER OF FREE GAS TO CITY NOT PHILANTHROPIC NEW YORK. Dec. 23. (U.P.) State Superintendent of Banks Broderick announced to-day he had taken over the Chelsea Bank and Trust Company. (Continued From Page 1-B) The institution, according to the latest figures, had gross 99 cents and allow the city the one. of $16,323,000 on December 20th. This is much better for us than to last. lose the 99 cents or even stand the The bank was closely identified chance of losing it. with the motion picture industry "But the answer lies in this. In DO-X In Repair, in New York and two helping the City Fresno we figures in the film world. help ourselves This is mutual Ready For Hop benefit offer designed to help ANOTHER MIAMI CLOSES us both. Therefore, we will go MIAMI BEACH Dec. 23. the limit in everything to many's fifty-ton flying boat, DO-X, The City Bank of Miami date the city in respect to this free damaged by fire several weeks ago, Beach was closed to-day to protect gas. will be ready to resume her flight The gas, Terrill explained, would to South America January 15th, er run on the bank yesterday be taken from the absorption plant, the Dornier Works announced to- The city bank had capital stock clean stripped gas, ready of the burner with the exception of the day of $100,000 and deposits of approximately $600,000 The City National addition of an odorant to eliminate Repairs to her damaged wing Bank of Miami was closed yester- natural danger to the cunsumer have quickly at Lisbon that lies in the use of odorless gas Portugal, and ce Schildhauer the American pilot, has obCLOSE IN HARTFORD tained an extension of leave from Red Cross Chapter HARTFORD Dec. his employers so that he Two Hartford banks, the Riv- Seeks New Nurse may join in the transatlantic flight. erside Trust Company and Pallotti BROKER PLEADS GUILTY Harold Russell Ryder one of the most lavish of the Broadway spenders, pleaded guilty to grand larceny connection the $2,000,000 failure of the brokerage firm of and Company to-day Senwas deferred for two months ble him to assist creditors. SUGAR AND COFFEE YORK WOOL MARKET BOSTON Dec. Trading in wool is about steady compared with the early part of last week The limited amount of business being closed on wool is mostly on fine and grades. Graded French and finer territory wool sell in range of 65 to 68c scoured basis. Strictly combing 60's wools conto move to 68c scoured Andretta and Company, were suspended to-day by Bank Commissioner Lester E. Shippee, following both institutions Pallotti Andretta and Company control the Riverside Trust ComThe state manual for 1930 gave the capital of the Riverside Trust as $400,000 surplus $600,000. undivided profits $24,229, savings deposits $643,805 and commercial deposits $3,185,455.10 The City Bank and the Trust and Savings Bank failed to open to-day The state division of insurance and banking the People's Bank of Gretna, Va., had

7. December 23, 1930 Sun-Journal Lewiston, ME
Article from Sun-Journal, December 23, 1930

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TWO HARTFORD BANKS years CLOSED AFTER RUN 1890 he Riverside Trust Co. and Pallotti, Andretta & Co. Suspended By Bank Commissioner HARTFORD, Conn., Dec. banks, Riverside Trust Pallotti. suspended by Bank Lester following runs institutions which have been in progress since last Pallotti, Andretta and Co., own control of the Trust Shippee said Riverside Trust "unquestionthe assets of Andretta and are "somewhat frozen, but likely depositors may be adequately The for 1930 gave the capital Co., incorporated in 1907. plus profits $244.savings deposits deposits The New branch of closed Shippee. This action taken against very heavy run of depositors after they had action at the Hartford office.

8. December 23, 1930 The Greensboro Record Greensboro, NC
Article from The Greensboro Record, December 23, 1930

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TWO HARTFORD BANKS CLOSED HARTFORD Conn., Dec. -Two Hartford banks, the Riverside Trust company. and Pallotti Andretta and company, were suspended today by Bank Commissioner Lester E. Shippe following runs on both institutions which have been in progress since last July The State Manual for 1930 gave the capital of the Riverside Trust company. incorporated in 1907, as $400,000. surplus 8500,000 undivided profits $244,229.61 savings deposits $643,805 23. and commercial deposits $3,185,455.10. ALL ALIKE. Tailor: How about your account sir? You owe me for 10 suits made last year. Client. Impossible-I only had two. Tailor: Yes, but you sent several of your friends here-Passing Show.

9. December 24, 1930 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, December 24, 1930

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CHELSEA BANK Closes In New York. Small Institution Patronized By Theatrical Profession-Tv Suspend In Hartford. New York, December 23-(AP)The Chelsea Bank and Trust Company, small institution patronized mostly by theatrical people, was taken over by State Superintendent of Banks, Joseph Broderick, today following heavy withdrawals Broderick said he closed the bank to preserve its assets for depositors. The institution operated seven offices. It owned the Chelsea Ex change Safe Deposit Company and the Chelsea Exchange Corporation, securities firm. The run developed last night and this Broderick said it was caused by rumors. Officials began an investigation of reports that a malicious campaign was under way to injure banks by circulating false The Chelsea Bank was a national and state depository, but not member of either the Federal Reserve or the New York Clearing House. It was capitalized at $2,500,000. had deposits of approximately $18,000,000 and total resources of $23,000,000. Hartford, Conn., December 23Hartford banks. the Riverside Trust Company and Pallotti, Andretta & Co., were suspended today by the Bank Commissioner following runs on both institutions which have been in progress since last Pallotti, Andretta & Co. control the Riverside Trust Company. The state manual for 1930 gave the capital of the Riverside Trust Company at $400,000, surplus $600,000. undivided profits $244,229, savings deposits $643,805 and commercial deposits $3,185,455.10. Miami, Fla., December 23-(AP) The City Bank of Miami Beach, which underwent a heavy run yesterday following closing of the City National Bank in Miami, did not open this morning. The bank had capital stock of $100,000. surplus of $50,000 and deposits of $600,000 at the last call. Bessemer, Ala., December 23 AP) The City National Bank and the Bessemer Trust Savings Bank failed to open today. Official said they were "acting for the best inter ests of

10. December 24, 1930 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, December 24, 1930

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CHELSEA BANK Closes In New York. Small Institution Patronized By Theatrical Profession-Two Suspend In Hartford. New York, December 23-(AP)The Chelsea Bank and Trust Company, a small institution patronized mostly by theatrical people, was taken over by State Superintendent of Banks, Joseph Broderick, today following heavy withdrawals. Broderick said he closed the bank to preserve its assets for depositors. The institution operated seven offices. It owned the Chelsea Exchange Safe Deposit Company and the Chelsea Exchange Corporation, securities firm. The developed last night and this morning. Broderick said it was caused by rumors. Officials began an investigation of reports that malicious campaign was under way to injure banks by circulating false rumors. The Bank was a national and state depository, but not member the Federal Reserve or the New York Clearing House. It at $2,500,000. had deapproximately $18,000,000 and total resources of $23,000,000. Hartford Conn., December 23 Hartford banks, the Riv. erside Trust Company and Pallotti, Andretta & Co., suspended today by the Bank Commissioner following runs on both institutions which have been in progress since last July. Pallotti, Andretta & Co. control the Riverside Trust Company. The state manual for 1930 gave the capital of the Riverside Trust Company at $400,000, surplus $600,000, undivided profits $244,229, savings deposits $643,805 and commercial deposits $3,185,455.10. Miami, Fla., December 23-(AP)The City Bank of Miami Beach/ which underwent a heavy run yesterday following closing of the City National Bank in Miami, did not open this morning. The bank had capital stock of $100,000. surplus of $50,000 and deposits of $600,000 at the last call. Bessemer, Ala., December 23-(AP) The City National Bank and the Bessemer Trust & Savings Bank failed to open today. Official said they were "acting for the best interests of depositors.

11. December 24, 1930 Hartford Courant Hartford, CT
Article from Hartford Courant, December 24, 1930

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Depositors in the Riverside Trust will eventually be paid in full indication of their own strong position the Clearing House Bank and to immediate relief expressed willingness make loans savings depositors Riverside Trust. statement follows Clearing House Statement. The members of Hartford Clearing House Association at meeting today affirmed their confidence that the banks Hartford are sound financial position and that the closing this morning of the Riverside Trust Company the commissioner of the State Connecticut. due the condition this institution. does not affect the other banks any way. It their belief. based upon investigation and information their possession, that the depositors Riverside Trust Company will eventually paid full Basing their action upon that belief. and indicative their strong position. Clearing House banks Hartford, order give immediate relief where needed. announce their willingness depositors the Trust Company. their to the exloans to secured by assignment of Hartford Clearing House AssociaBankers Trust Company "Capitol National Bank & Trust Co. Bank & Trust Co. Banking Co. "First National Bank Trust "Hartford National Bank Trust Co. Phoemix State Bank & Trust Members the Fire Department in the past were paid by checks on the Trust and of the closing of the bank order this week were drawn on the Trust The city had balance the bank Court Pleas funds deposit at the Riverside Trust Company Richards Arrested During the day excited depositors gathered around the Pallotti Andretta bank building on Windsor Avenue. been described as Communist the center of large crowd. He arrested on charge of inciting and breach the peace and was held default of $10,000 bail. Women depositors became hysterical upon finding bank closed. Policemen were at the scene to preserve order Norman Carroll teller at the Pallotti, Andretta & Co., bank addressed them of his they would ceive the deposits Dr. DeBonis Italian Organized in 1907. The officers and directors the Trust follows: President. Garvin: treasurer, Walter Eitel: Neilson: Salvador the and tonio Andretta, Barbour. Richard Gilbert Calhoun Moore. Francis Pallotti, Joseph R. Proctor. Louis Samuels. Thomas Smith, Fred Williams, Frank E. Wolcott and The bank organized in 1907 and house Earlier this year the new arcade which made the bank accessible from Asylum Street Pearl Street Pallotti Andretta Co., was 1898. was referred the largest bank New Members families of the partners originally in the firm the Trust Company rested with them.

12. December 24, 1930 The Boston Daily Globe Boston, MA
Article from The Boston Daily Globe, December 24, 1930

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officers and directors as the Pallotti bank in Hartford, but has been managed independently. The local banks were closed before the opening hour this morning. The bank in New Haven was by Shippee noon as precautionary measure against heavy run based on the commissioner's action against the Hartford institution. Commissioner Shippee said the Riverside Trust Company, which controlled by Pallotti, Co, unquesti solvent." The assets of Pallotti, Andretta Co, he said, are frozen, but likely that the depositors may be adequately protected.' Runs on the Hartford banks which began last July became acute last week resulted today's action. Co. private bank lieved to have been responsible for the withdrawals of deposits. Commissioner Shippee announced that he would every effort avoid the Company. $5,300,000. This bank is assets capital $400,000, surplus $600,000. commercial deposits and savings deposits $1,084,000. The Pallotti, Andretta & Co, capital $250,000. surplus $300,000, deposits $204,000 and savings deposits $2,191,000.

13. December 24, 1930 The Fresno Bee Fresno, CA
Article from The Fresno Bee, December 24, 1930

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DAIRY MARKETS Per Ventura Dec. BAY DISTRICT Butter am not here she told of per her desire to aid her children Mv eldest son, Rodney, is now 15% and Cheese to earnest desire the pro- LOS ANGELES lugs stigma of my and so three children bation my my in Los may by 17 23 to Judge Hardy Fresh the request of Mrs. Pantages to the 5x5 Case soft HAY MARKET 19 19 19 19 19 LOS ANGELES MAY MARKET 15% 15% mately $600,000. The City National Bank of Miami was closed yesterday. CLOSE IN HARTFORD H. Dec. 24. Hartford banks, the Riverside Trust Company and Pallotti Andretta and Company were sus-