Central Industrial Bank (Waterbury, CT)

Episode Information

Episode UID
51008871619
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
5100887 routing
Routing Number
51-0088
Start Date
November 23, 1934
Location
Waterbury, Connecticut (41.558, -73.051)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2e0768acc72edd83

Response Measures

None

Description

Articles describe trustees conducting an orderly dissolution/liquidation, indicating permanent closure.

Events (1)
1. November 23, 1934 Suspension
Cause
Voluntary Liquidation
Cause Details
Trustees in charge of liquidation/dissolution and permission granted to wind up affairs (sell HOLC bonds, pay interest, extend time to complete dissolution).
Newspaper Excerpt
Permission was granted the trustees in the Central Industrial Bank dissolution, to pay the interest on several first mortgages that are due.
Source
newspapers

Newspaper Articles (3)
1. November 23, 1934 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, November 23, 1934

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Article Text

Many matters of importance in civil actions were brought to the attention of the superior and common pleas courts today. Several receivership matters were discussed in superior court before Judge John A. Cornell. In the Hamilton Hardware Corp receivership, three motions were presented with the court reserving decision. One of the applications asked for an allowance to the receiver for services rendered since last June, the second sought an allowance to counsel for the receiver and the third sought permission to pay a dividend to creditors. The receiver, Attorney John H. Cassidy already has paid a five per cent dividend. Bronson, Lewis & Bronson are counsel for the receiver. The application seeking instructions as to the disposal of the Stamford property in the Sanditz & Traurig receivership, was continued one week. Judge Cornell reserved decision on the motion asking the termination of the receivership of the St Regis restaurant. B. & W. Given Delay The motions asking modification of judgment confirming the permanent receiver in the Beardsley & Wolcott receivership was continued one week. Judge Cornell granted permission to W. W. Gager, receiver for the Elton Hotel, to accept supplemental claims filed after the expiration of the time limit. Permission was granted the trustees in the Central Industrial Bank dissolution, to pay the interest on several first mortgages that are due. John Wabuda was ordered to pay alimony of $10 weekly during the pendency of his divorce action against his wife. In addition he was ordered to pay $50 to the attorney who is defending the action for his wife, Nancy. ALIMONY ORDERED arren Duchaim was ordered to pay $5 weekly alimony during the pendency of his divorce suit against Ruth Brown Duchaim. He also was instructed to pay $50 for the attorney who is defending the action for his wife. ARGUMENTS HEARD The arguments of counsel in the case of Elizabeth Carrington against Arthur Bobb were scheduled to get underway before Judge Edward J. Finn in the common pleas court this afternoon. The plaintiff requests the court to set aside the verdict that came in for the defendant, Bobb, in the common pleas court last week.

2. February 1, 1935 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, February 1, 1935

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Article Text

PETITION ENTERED ON BANK ACCOUNT e 3 Counsel for Receiver Is y Afraid Precedent Would , Be Established : e Judge Frank P. McEvoy ordered briefs filed in the claim presented 7 to him today asking that a series : of accounts under the name of 1 Rev Joseph Valdambrini in the ; Merchants Trust Co, be classified as deposits. The accounts amount to several hundred dollars. Father , Valdambrini had secured a draft 1 for their total value but the paper failed to go through the clearing ; house before the bank closed. S Attorney John B. Greco presented the claim. Attorney Walter D. Torrance of Carmody & Thoms, counsel for the receiver agreed y that the claim was justified and that the receiver believed the accounts should be considered as de< 1 posits, but that a serious precedent e would be established should such steps be taken. / He pointed out that there are a i number of such claims that could 1 be raised in the same manner against the receiver. He explained ; that when Attorney Francis T. I Reeves was receiver's counsel, a series of such claims were heard by State Referee Isaac Wolfe, by order of superior court and that he recommended that they be classified as common creditors. When Judge Arthur F. Ells accepted the. referee's report and judgment thereon entered, no appeal was taken within the time specified by law. Attorneys. in the case will file briefs in support of their claims. New Sidewalk Decision was reserved by Judge Frank P. McEvoy on the application of the receiver for the Merchants Trust Co asking authority to spend $450 to construct a new concrete reinforced sidewalk on the South Main street side of the bank, following a hearing in superior court today. Receiver's counsel, Attorney Walter D. Torrance explained that insurance companies have com. plained of the condition of the glass surfaced walk and that it would leave the bank and its insurer open to damage suits. Non-Support Case Decision was reserved by Judge Frank P. McEvoy on the contempt of court proceedings brought against Alfonse Gelinas of this city by his wife, Mabel Gelinas, following a hearing in superior court today. The defendant was ordered some time ago to pay $5 weekly for the support of his wife, pending the hearing of her divorce suit against him. The order, says her counsel, Attorney Joseph C. Guilfoile, was not complied with. The defendant, through his counsel, Attorney Henry J. Freeman, informed the court the man has no money to pay the order. HOLC Bonds Permission to sell $500 worth of Home Owners Loan bonds in connection with the liquidation of the Central Industrial bank, was granted by Judge Frank P. McEvoy in superior court today. Attorney Alfred L. Finklestein, counsel for the trustees in charge of the liquidation explained the money would be used to assist in winding up the affairs of the company.

3. October 25, 1935 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, October 25, 1935

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Article Text

# TIME EXTENSION # FOR DISSOLUTION Central Industrial Bank Obtains Permission to Carry on Work An extension of time to complete the dissolution of the Central In-dustrial Bank was granted counsel for the trustees in charges of the dissolution by Judge Newell Jennings in superior court today. The time allowed in the first application would soon expire and Attorney Alfred L. Finkelstein, counsel for the trustees, explained that certain matters need to be cleaned up. The court considered other matters on the short calendar today. The hearing of the motion asking the setting aside of the verdict in the case of Grace Schiavone against the International Commercial Corp. was fixed for next Tuesday at 9:45 o'clock. Mascolo, McKnight & Dauch appear for the plaintiff. Attorney Walter E. Monagan represents the defendant. Decision was reserved on acceptance of the final account in the receivership of the Derby Textile Co. The receiver in the Barlow Bros. Co. • was instructed to submit an offer in regard to its claim against the West Side M. E. church. The semi-annual account filed in the Sprague Electrical Supply Co. receivership was accepted and the receiver was instructed to pay the taxes due the City of Waterbury.