Kazemekas & Company (Waterbury, CT)

Episode Information

Episode UID
51008771584
Episode Type
Run → Suspension → Closure
Bank Type
state
Bank ID
5100877 routing
Routing Number
51-0087
Start Date
December 23, 1931
Location
Waterbury, Connecticut (41.558, -73.051)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
cac814c21897f148

Response Measures

None

Description

Suspension followed heavy withdrawals tied to the Merchants Trust Co. failure; receiver later appointed and dividends paid.

Events (3)
1. December 23, 1931 Run
Cause
Local Banks
Cause Details
Heavy withdrawals triggered by the suspension/failure of the Merchants Trust Company led depositors to withdraw from Kazemekas & Co.
Newspaper Excerpt
This, together with heavy withdrawals yesterday caused the suspension, officials said.
Source
newspapers
2. December 24, 1931 Suspension
Cause
Local Banks
Cause Details
Bank failed to open and suspended operations after heavy withdrawals tied to the Merchants Trust Co. troubles.
Newspaper Excerpt
Kazemekas & Co., private bankers here since 1908 ... failed to open today.
Source
newspapers
3. March 9, 1932 Receivership
Newspaper Excerpt
the Waterbury National bank, receiver for the Kazemekas Co, Inc, local bank, which suspended shortly after the Merchants Trust Co.
Source
newspapers

Newspaper Articles (15)
1. December 24, 1931 Brooklyn Eagle Brooklyn, NY
Article from Brooklyn Eagle, December 24, 1931

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Article Text

5 Small Banks Fail to Open Waterbury. Conn., Dec. 24 (AP)Kazemekas & Co., private bankers here since 1908. and capitalized at $100,000. failed to open today. The Merchants Trust Company, which suspended yesterday. was its depository. This, together with heavy withdrawals yesterday caused the suspension, officials said. The bank has deposits of about $300,000 Application for receivers for the Merchants Trust Company and for Sandits & Trauris, private bankers. who didn't open yesterday, was to be made today. Penna. Bank Closed Cornwells State Bank at Cornwells Heights. north of Philadelphia, closed its doors today and announced the business had been turned over to the State Banking Department. A notice posted on the door said the officers decided on the move because of heavy withdrawals and to protect depositors. Ocean Grove National Ocean Grove, N. J., Dec. 24-The Ocean Grove National Bank here suspended at noon. notice posted on the door of the bank announced that the bank had been closed by action of the board of directors to conserve its assets and that the Controller of the Currency would take charge. The bank has resources of $2,263,622 and deposits of $1,975,649. according to its statements on the last bank call day. Jersey Closing Bradley Beach, N. Dec. 24The First National Bank of Bradley Beach closed today in the face of heavy withdrawals. It had opened for business as usual in spite of the fact that heavy withdrawals were made yesterday. When it appeared that the withdrawals were continue the board of directors decided to suspend and turn the bank over to the Controller of the Currency to conserve its assets The First National is the sixth bank to close in Monmouth County within three days. Connecticut Bank Closed New Haven. Conn., Dec. 24 (AP)-The West Haven Bank & Trust Company, with deposits of about $2,700,000, remained closed today The institution was combination of the former West Haven Bank Trust Company and the Home Bank & Trust Company, which merged last April with a capital $100,000. The State Manual listed savings deposits of $1,875,375.38. commercial deposits of undivided profits of $47,777.94 and surplus of $30,770.67. Real Estate Exchange Lincoln BANKRUPTCY PETITIONS SLIPPER COMPANY. 320 and 384 Knickarbocker Ave.: involuntary. Liabilities alKings Highway: involuntary. Liabilities LOUIS LONSTEIN as BESSEL BABY CARRIAGE STORE, 339 Broadway: involuntary. Liabilities alleged. $1,277. NUGENT SHOE COMPANY INC., 77 Hall St.; involuntary. Liabilities alleged. EZRA HODOS as HODOS DEPARTMENT STORE. 140-20 Rockaway Boulevard. South Ozone Park: voluntary Lis. bilities about $7,000: assets. about $3,000. LOUIS HOLLANDER, grocer. 81-91 Bay 22d St.: voluntary. $115 MORRIS KAUFMAN, 6516 Bay Parkway: voluntary. Liabilities, $2. NELSON SPRINGER reporter. 30-01 39th Ave., Long City: voluntary Liabilities, $1,143; assets, $200.

2. March 9, 1932 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, March 9, 1932

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Permission to file an appeal to the supreme court of errors from the decision handed down last week by Judge John Richards Booth in the case of the Investment Securities company against the Kazemekas & Co, Inc, is included among the short calendar motions to be heard this Friday morning. The appeal is sought by the Waterbury National bank, recelver for the Kazemekas Co, Inc, local bank, which suspended shortly after the Merchants Trust Co: The Investment Securities Co asked the superior court to restrain

3. March 9, 1932 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, March 9, 1932

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Encroaching Of Property Denied By Kazemekas & Co. South Leonard Street Property Involved-Several Motions to Set Aside Heavy Verdicts Also Come Before Friday's Session of Superior Court Permission to file an appeal to the supreme court of errors from the decision handed down last week Judge John Richards Booth the case of the Investment Securities company against the Kazemekas & Co, Inc. is Included among the short calendar motions to be heard this Friday The appeal is sought by morning. the Waterbury National bank, receiver for the Kazemekas Co, Inc, local which suspended shortly after the Merchants Trust Co: The Investment Securities Co asked the superior court to restrain the Kazemekas company from encroaching onto its property on South Leonard street. It was explained by Heatey & Healey plaintiff's counsel. that the building which housed the bank encroached some several feet onto the property of the Investment company. Judge Booth upheld the claim and issued the injunction. While the case was in litigation, the bank suspended and the Waterbury National bank was appointed receiver. The latter bank and Attorney Francis P. Guilfoile, appearing for the Kazemekas company are expected to argue granting of the appeal at Friday's session. Several other matters of importance are included on this week's short calendar. There motion to set aside the verdicts totaling $12,000 awarded Archie and Anna Mazziotte against the Bridgeport & Waterbury Passenger Service, Inc. The verdicts were awarded last week by superior court jury for injuries Mrs Mazziottte claimed she suffered in bus collision at Beacon Falls At. torney Vincent A. Scully filed the motion to Net aside and Attorney Clayton L. Klein will oppose it. Another motion to set aside the verdiet is filed in the case of Mabel E. Lawson against the City of Waterbury. The city won the case when it was tried last week when Judge Frederick M. Peasley granted a motion for directed verdict favor of the city. Corporation Counsel Charles S. "Cononr and his assistant, Attorney Vincent A. Scully will argue against the granting of the motion. Attorney Francis P. Gullfolle will argue for the granting of the motion.

4. March 23, 1932 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, March 23, 1932

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Kazemekas Depositors Plan Mass Meeting Anxious to Aid Receiver in Straightening Accounts of Bank Depositors of the Kazemekas & in the bank and as soon as possible Co bank which suspended around will call a meeting. The Lithuanian Citizens' Politilast Christmas time, are planning to hold a meeting in the near fucal club, from whose members the above named committee was drawn ture to discuss plans for assisting the receiver, the Waterbury Nais one of the active organizations behind the movement. The meettional bank, in any way possible in the preservation of the bank's asing is not to be a protest in any sets. A committee has been manner, but simply a meeting to formed consisting of Thomas Maexplain the receivership procedure tas, Matthew Vosylius, Peter Kruand to assure the receiver of any gelis, William Jakubonis and Wilassistance that is desired. liam Wasilauckas, which is getting a list of the 1.200 depositors FULL WEATHER REPORT

5. March 31, 1932 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, March 31, 1932

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Motions seeking permission to close the banking quarters of the Sanditz and Traurig and the Kazemekas & Company banks will be heard at the short calendar session of the superior court before Judge Newell Jennings tomorrow morning at 10 o'clock. The requests are sought by the Waterbury National Bank, receiver for both banks which were close by order of the state banking commissioner several months ago. A. L. Edmond, cashier at the Waterbury National Bank, stated that both institutions were automatically supposed to have been closed when the state bank order

6. April 4, 1932 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, April 4, 1932

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ASSETS OF BANKS TOTAL $734,905.04 Sanditz-Traurig And Kazemekas Co. Figures Public Mortgage Loans High in Both Defunct Institutions— Thousands of Dollars Listed Deposited in Savings Department of Both Institutions Inventories of the closed Sandits & Traurig and the Kazemekas & Co banks were filed to-day in superior court by the Waterbury National bank, receiver for both institutions. The report shows the assets in the Sanditz Traurig bank as $306,446.95 and in the & Co bank as $428, 458.09. These are listed as the values, The reports on both banks will be filed within a couple of weeks. Included among the assets of the Sanditz bank is certificate of deposit in the Merchants Trust $40,000. The certificate in the Merchants Trust Co is listed as $10,- One of the large items in the assets of the the loans, listed as 625.00. The report shows that Kazemekas bank has on deposit in cash in the Merchants Trust Co, $2,884.40. Cash hand in the Kazemekas bank is listed as $33.706.71 and the cash in the Sanditz bank is listed as $41,010.40. The inventory of the Sanditz bank as follows: Cash, Items and cash in bank. $41,010.40; securities, $33,820.60; real estate, $40,111.30: demand loans, $47,629.57; industrial loans, $14,902.02: Industrial loan repayments, included by the bank examiners. $20,301.70; mortgage loans, $89,005.40: and equipment, $19,665.96. The bank has deposits in the amounting to $156,381.01 and Christmas club accounts to $1,746. Inventory of the Kazemekas tank as follows: $33,Cash, 706.71: stocks bonds. $22,137.38; bond state, estate, $51,000; time and demand loans, $17,058; industrial loans, $33,644.50; mortgage loans, $182.equipment. The Kazemekas bank has deposits in the savings amounting to $307,992.12 and Christmas savings club accounts amounting to $713.30.

7. June 14, 1933 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, June 14, 1933

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Directors of the Kazemekas Co. (Continued from Page 1.) If the court grants the motion filed today, it will mean that the directors of the bank which closed the same time as the Merchants Trust Co. in 1931 will be required to come into court and answer questions relative to the operation of the bank prior to its suspension. The directors of the bank are relatives of the late Mr Kazemekas. The Waterbury National Bank, receiver for the Kazemekas & Co., last week was authorized by court to pay a 10 per cent dividend to all depositors of the bank. It marked the first dividend payment to depositors since the bank closed.

8. November 3, 1933 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, November 3, 1933

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Permission to accept Home Owner Loan Corp bonds in the payment of mortgages owed either by the Kazemekas & Co or the Sanditz & Traurig banks, was sought by the receiver for those banks, the Waterbury National Bank in superior court today. Judge Newell Jennings reserved decision on the application. Attorney L. Russell Carter, counsel for the receiver explained that the request is similar to that granted the receiver for the Merchanta Trust Co which has been accepting the bonds since permission was secured some time ago.

9. November 24, 1933 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, November 24, 1933

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BANK RECEIVERS HAVE MONEY FOR I DISTRIBUTION on Total of $26,401.03 Hand Awaiting Call of the Owners Receivers for three Waterbury closed banks have a total of $26,401.93 on hand waiting for owners to claim it. The sum represents the amounts in the Merchants Trust company, Sanditz & Traurig company and the Kazemekas & company that have been declared as due depositors by dividends, yet remain at the banks because the depositors have either not cashed the dividend checks sent out as in the case of the Merchants Trust company or have not called for their dividends as is the case in the Sanditz & Traurig company and the Kazemekas & Company. The Merchants Trust company reports $23,706.37 as uncollected by the depositors, according to the Citizens & Manufacturers National Bank, receiver. The Waterbury National Bank, receiver for the Sanditz & Traurig and Kazemekas Company, report an uncollected amount of $2,695.56. Of that sum, $1,548 is in the Kazemekas company and 1,147.56 is in the Sanditz & Traurig company. Although the balance in savings and commercial dividends represent negligible amounts as compared to the sums declared for (Continued on Page 17.)

10. March 7, 1934 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, March 7, 1934

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Bank Receivership Reports Are Filed Receipts Exceed Expenditures in Both-Waterbury National Bank Is Receiver for Two Institutions Reports of receivership opera tions the Sanditz Traurig and Kazemekas Co banks were filed in superior court to-day for the month of February. The Waterbury National bank is receiver for both companies. In the Sanditz & Traurig the celpts were $2.205.94 with disbursements of $1,518.22 In the Kazemekas & Co case the receipts were $816 with disbursements of $238 Included in the receipts were rent collections amounting to $536 Cash on hand in the Kazemekas case is $3.977.39 Cash in the Sanditz & Traurig receivership is $2,895.28. The receipts In the Sanditz & Traurig case realized as follows: Industrial loans, $73.66 bills discounted $48.58: collateral loans, $307.35 mortgage loans, $170: interest $154.52: miscellanelous $51.83; Stamford rent collections $983: Waterbury rent collections $417. Included in the disbursements was payment of $1,000 to the Union & New Haven Trust Co for part mortgage interest. The receipts in the Kazemekas were received similarily to the Sanditz case.

11. May 18, 1934 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, May 18, 1934

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, Court Actions Permission to pay the City of : Waterbury the sum of $794.64 in I taxes was granted the receiver for ) s the by Judge Sprague Edwin Electrical to-day. C. Dickenson The Supply amount Co in superior court includes real and personal taxes. ) Other receivership matters came to the court's attention also. ) In the Merchants Trust Co receivership, two compromise offers 3 were approved. In the Kazemekas & Co receivership, the recelver was authorized to well two desks in the banks' name, for $25. The regular reports in the receiverships of Alfonso Russo Co, United ) Kosher Market, Inc, M. Siller, Inc, were accepted. Judge Dickenson reserved decision on the application of the defendant to have the case of Charles S. O'Connor against F. P. Guilfoile, executor, and others, removed from the jury docket to the court docket. The application was made by Attorney William E Thoms in behalf of the defendants. Attorney Vincent A. Scully, counsel for the plaintiff, opposed the motion. Foreclosures Six foreclosure judgments totaling $35,079.20 were granted by Judge Edwin C. Dickenson at the I short calendar session of superior court to-day. The judgments were entered in the following cases: Max Parm against Jenine M. Hartnett and others, $3,150, law day, Oct 1; Waterbury Savings Bank against Louis Mitkowsky, $6,408, law day, I Aug 3: Alexander A. Anderson against G Farina, $833.08, law day ) Sept 11; Prudential Insurance Co, against Jennie Bonivisuto $6,151.91 s law day Aug 1; Waterbury Trust Co against D. T. Farrington, Jr, I trustee, $13,356. law day in June; Waterbury Savings Bank against , W. J. Grimes. $5,280, three months law day. Divorce Asked Divorce on grounds of desertion e and cruelty is asked in a petition filed in superior court to-day by . Edna Smith Atwood of Waterbury against Wheeler R. Atwood of Burlington. They were married Jan 10, 1929. The desertion took place December 1, 1929, the complaint says. e Foreclosure of a mortgage on Wyman street property is asked by the Waterbury Savings bank against Leonardo LoRusso in an application filed in superior court to-day. The mortgage, in the ) amount of $12,000 was placed on the property January 20. 1928. The application says taxes and water rent to theamount of $2,977.48 are due on the property.

12. October 28, 1935 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, October 28, 1935

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Receiver Reports On Closed Banks Profits Feature Semi-Annual Accountings of Receiv= ership for Sanditz-Traurig, Kazemekas Co. deduction of disbursements from reProfits of $4227.65 for the Sanditz ceipts for the last six months. & Traurig receivership and $1,516.62 The receipts in the Sanditz case for the Kazemekas & Co. receivercase bring the cash to $15,881.77 which appears more than is necesship are noted in the semi-annual sary for a 10 per cent dividend to reports of each case filed by the redepositors, for the total claim of deceiver, The Waterbury National positorsis $105,984.39. Bank in superior court today. The Cash on hand in the Kazemekas figures showing profits result from case is $11,536.03. Receipts in the Sanditz case were derived from mortgage loans of $3,538.55; rents $1,559.50; industrial Girl Scouts Aid loans of $131.91; bills discounted, $696.90; dividends, $216.50; interest Local Red Cross $272.54 and miscellaneous $169.52, making a total receipts of $6,585.42. Disbursements were $2,357.77. Among The Waterbury Council of the expenses were tax payments of Girl Scouts is assisting the $958.29, repairs of $406.01 and interAnti-Tuberculosis league in est payments of $630. preparations for its annual seal Receipts in the Kazemekas case sale, according to Miss Anna were $5,360.71 and disbursements G. Murphy, director of the sale. were $3,844.10. The largest receipts "If the enthusiasm of the girls is were rents of $3,599.40. Large exany criterion, we are headed for pense items were taxes of $1,737.21 another successful sale this and repairs, $835.19. year," Miss Murphy said.

13. September 4, 1936 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, September 4, 1936

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Kazemekas Co. Bank Receiver Seeks Aid Waterbury National Banks Wants Advertising Call for Bids-Offer Already Made for Assets of Bank With sealed bids for the purchase of the remaining assets of the LABOR CRISIS IN Kazemekas & Co., bank due to be filed in superior court by the 22d, the receiver, the Waterbury NaSTATE, NATION tional bank, asked the court today for instructions in regard to the advertising of the call for bids. The request for instructions was filed State Federation Is Close= by Attorney L. Russell Carter, the counsel for the receiver, and will be ly Allied With Trouble in acted on when Judge Patrick B. O'Sullivan opens the superior court A. F. of L. Smash term here next Friday. Meantime. an offer of $6,500 for property of Middletown, Conn., Sept. 4-(UP) the company on Bank street has -President Thomas J. Shea of the been received. Connecticut Federation of Labor, Shortly before the court year today announced he would do all closed in June, the receiver inpossible to aid in the reelection of formed Judge Edwin C. Dickinson President Roosevelt. The federation that a bid of $49,346.98 in cash for has a membership of 80,000 and conthe remaining assets of the closed venes Sept. 14 at Bridgeport for a four-day session of unparalleled (Continued on Page 4.)

14. March 30, 1937 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, March 30, 1937

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COURT ASKED TO INSTRUCT BANK Instructions by the court in the matter of turning over $2,788.68 to the state treasury is asked today in a motion filed in superior court by the Waterbury National bank, as receiver for Kazemekas & Co. The sum represents dividends which have been uncalled for by their owners. In a recent order, Judge Frank P. McEvoy advised the receiver to clear up the estate, and turn over unçalled for dividends to the state treasury for legal disposal. The court is asked to issue an additional order, dealing with the time of transfer, the manner, and notice to depositors.

15. May 12, 1937 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, May 12, 1937

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BANK'S DISCHARGE SOUGHT OF COURT Permission to Destroy Certain Receivership Papers Also Asked Discharge of the Waterbury National Bank as receiver for the Kazemekas & Co., Inc., will be asked in superior court Friday morning, when Judge Kenneth Wynne will be presiding. Final judgment of receivership and permission to destroy certain papers pertaining to the receivership will also be requested. A motion which will be heard states that the receivership is complete and that no assets remain with the receiver. Recently the Waterbury National Bank, as receiver for the Kazemekas & Co., turned over a sum slightly less than $2.000 to the state treasurer, representing declared dividends which had been uncalled for by depositors. A total dividend of 28 per cent had been paid to all depositors, it was stated today by Attorney L. Russell Carter, counsel for the receiver and all assets have been sold or disposed of.