East Hartford Trust Company (East Hartford, CT)

Episode Information

Episode Type
Run → Suspension → Closure
Start Date
January 2, 1932
Location
East Hartford, Connecticut (41.782, -72.612)
Bank Type
trust
Routing Number
51-0305

Metadata

Episode ID
Bank ID
City ID
90206819
Model
gpt-5-mini
Short Digest

Notes

State bank commissioner issued a temporary restraining order; a receiver was later handling the closed bank.

Events (3)
1. January 2, 1932 Run
Cause
Local Banks
Cause Details
Heavy withdrawals provoked by runs in Hartford after the City Bank & Trust Co. closed earlier, producing citywide runs.
Measures
Bank closed at noon; State Bank Commissioner issued temporary restraining order to protect depositors.
Newspaper Excerpt
The East Hartford Trust Company closed at noon after heavy withdrawals throughout the morning.
Source
newspapers
2. January 2, 1932 Suspension
Cause
Government Action
Cause Details
Temporary restraining order by the State Bank Commissioner following heavy withdrawals, resulting in the bank's closure/suspension.
Newspaper Excerpt
The State Bank Commissioner, who issued temporary restraining order, said the action was necessary to protect depositors.
Source
newspapers
3. June 29, 1932 Receivership
Newspaper Excerpt
Mortgage Releases By E. Hartford Bank Receiver Authorized ... the Phoenix State Bank & Trust Company receiver of the closed bank, has this power.
Source
newspapers

Newspaper Articles (10)
1. January 3, 1932 The Cincinnati Enquirer Cincinnati, OH

Article Text

CONNECTICUT BANK CLOSED.

Hartford Conn., January 2-(AP) The City Bank & Trust Co. did not open for business this morning The bank was incorporated in 1851. In report to the State Banking Commission the savings deposits were given at $15,500,000, commercial de posits at $5,500,000, capital $1,000,000 surplus $2,000,000 and total resources $25,000,000 The East Hartford Trust Company closed at noon after heavy withdrawa the morning The State Bank who issued temporary restraining order, said the action was necessary to protect depositors The bank's assets are $3,540,000. with deposits totaling

2. January 3, 1932 The Springfield Daily Republican Springfield, MA

Article Text

BANKS IN HARTFORD CLOSE AFTER RUNS

City Bank and Trust and East Hartford Trust Shut Others Will Require 90 Days' Notice Hartford, Jan. City Bank and Trust company East Hartford Trust company today because heavy withother banks here require days' notice for savings accounts of $100 or City Bank Trust company, with deposits and accounts directors asked banking department business action heavy from the East Hartford which noon protect total commercial deposits George bank comthe City Bank Trust should to pay all depositors

3. January 3, 1932 The Springfield Daily Republican Springfield, MA

Article Text

BANKS IN HARTFORD CLOSE AFTER RUNS

City Bank and Trust and East Hartford Trust Shut Others Will Require 90 Days Notice Hartford, Jan. City Bank Trust company the East Hartford Trust company closed because heavy withtoday drawals, and other banks here cided require days' notice for removing savings accounts $100 more. The City Bank Trust company, commercial deposits $5,500,and savings accounts of $15,500,not after the directors asked the banking department to take over the business. The action brought heavy withdrawals from the East Hartford bank, which closed noon to protect depositors. Its savings and commercial deposits $747,000. George J. Bassett, state bank comthe City Bank and Trust in 1851, vance should able to pay all depositors eventually.

4. January 3, 1932 The Cincinnati Enquirer Cincinnati, OH

Article Text

CONNECTICUT BANK CLOSED.

Hartford, Conn., January 2-(AP) City Bank & Trust Co. did open for business this The bank was orporated in 1851. report to the State Banking Commission the savings deposits given at $15,500,000. deposits $5,500,000, capital $1,000,000. surplus $2,000,000 and total resources $25,000,000. The East Hartford Trust Company closed at noon after heavy withdrawals throughout the morning. The State Bank Commissioner, who issued temporary restraining order, said the action was necessary to protect depositors. bank's assets are $3,540,000, with deposits totaling

5. January 7, 1932 The Daily Worker New York, Chicago, NY
Article from The Daily Worker, January 7, 1932

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Article Text

HARTFORD BANKS SHAKEN BY LONG RUNS ON MONDAY Savings Banks, Gov't Postal Savings Are Stormed In City HARTFORD, Conn. - Following the closing of the city bank and trust Co., the East Hartford Trust Co. Saturday, a run of major proportions developed here Monday when depoitors of all savings banks and governmental postal savings stormed the banks and formed long, insistent lines until the Federal Reserve Bank of Boston rushed $1,000,000 to meet the demands of the depositors. Banks thruout the city immediately invoked the rule of ninety days notice for withdrawals. All day Monday anxious crowds formed in front of all savings banks here, as well as the postal savings, calling for a return of their deposits. Bank officials are seeking to cover up the seriousness of the situation by the usual promises of "rehabilitation" and "need for confidence." . * The Freehold Trust Co. of Freehold, Monmouth County, New Jersey placed its affairs in the hands of the state department of Banking and Insurance after a period of heavy withdrawals. Depositors Try Recover Money. Desperate because of the closing of the People's State Bank of Monck's Corner, S. C., two depositors forced an entrance into the closed bank and took $2,000, a sum equal to that which they had in deposits at the time of the bank closing. The two depositors later surrendered to the sheriff, after burying the money they took.

6. June 29, 1932 Hartford Courant Hartford, CT

Article Text

Mortgage Releases By E. Hartford Bank Receiver Authorized

The decision of Judge Arthur F. Ells of the Superior Court in an application for advice by the receiver of the East Hartford Company, which was filed Monday means that the East Hartford Trust Comp ny has not the power, either in its banking or fiduciary capacity. to release ortgages, but that the Pho-nix State Bank & Trust Company receive: of the closed bank, has this power. This explanation was made Tuesday by counsel for the receiver result of misundersta .ng created by newspaper accounts of the court decision. The question was brought to the Superior Court by counsel for the receiver as result of being raised in the Probate Court in East Hartford. where it was held that officers of the East Hartford Trust Company had the power, where the bank was acting as guardian. to release mortgages. Judge Ells's opinion contrary to this and allows only the receiver to act.

Accused of Stealing Wine. vocal solos by Malcolm Ogden, boy Milton Chaffe, 34. of 1906 Park soprano, and readings by Ruth CarStreet, was arrested Tuesday by Po- ter and Eleanor Bates. The proceeds licemen C. N. Fistler and R. J. Dil- will be used for the Salvation Army lon, charged with breaking and en- Young People's Camp. known as the tering and drunkenness, Chaffe, Nathan Hale Camp. The public is is entered the cellar of invited. Selvina Silvia of Francis Avenue and stole bottle of wine. He was Twelve-years-old Josephine Lewis noticed running from the place af- of Drefach. Wales has won 370 ter the theft had been discovered. prizes in elocution contests.

7. September 6, 1935 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, September 6, 1935

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Article Text

against John Polleto

The receiver's account was accepted in the case of Philip T. Gervais against the East Hartford Trust company. administrator. The receiver's account was also accepted in the case of the Citizens and Manufacturers National bank, receiver, against Patrick Deeley ar.d a bond of $75 to prosecute was ordered in the case of Helen Polikas against the W. T. Grant company. Pleadings were ordered in the case of Santo Veneziano against William C. Summa and motion for instructions to the receiver was granted in the case of the City of

8. September 6, 1935 The Waterbury Democrat Waterbury, CT

Article Text

DENTAL ASS'N. SPONSORS DINNER

Under the auspices of the Connecticut Dental association, a dental tercentenary celebration dinner will be held at the Hotel Bond, Hartford, Saturday night, October 5. Dean J. Ben Robinson, of the Baltimore College of Dental Surgery, one of the foremost dental historians in the United States will be the guest speaker at this event. The Connecticut State Dental association is to be represented by its entire memberships, according to John D. Hertz, president of the association and Clifford W. Vivian, secretary.

against John Polleto. The receiver's account was accepted in the case of Philip T. Gervais against the East Hartford Trust company, administrator.

The receiver's account was also accepted in the case of the Citizens and Manufacturers National bank, receiver, against Patrick Deeley and a bond of $75 to prosecute was ordered in the case of Helen Polikas against the W. T. Grant company. Pleadings were ordered in the case of Santo Veneziano against William C. Summa and motion for instructions to the receiver was granted in the case of the City of Waterbury against the GLD Realty company.

A motion for the acceptance and approval of the receiver's final account in the case of Lottie J. Blackmar against William C. Sheehy went over for a week. Pleadings were ordered in the case of Clayton L. Klein, executor, against Anthony F. Laguna. Motions for judgment in the cases of the Tilo Roofing company against Charles Lanosa and Marcia Lipman against Nat Rittenband went over for a week. A motion to intervene as co-plaintiff was granted in the case of Tony Campus against Edward B. McElligott. The court approved the receiver's report in the case of Elinor E. Vaill, trustee, against Calogera DiSalvo. A motion to cite in an additional defendant was granted in the case of Henry E. Stoughton against Louis Luccaro.

Smedley Named

In the case of the Tilo Roofing company against Andrew Olear a motion for judgment by default went over for a week. Attorney F. C. Smedley was named guardian ad litem of minor defendants in the case of Charles E. Olsen against Vincenzo Vincenti. The court granted a motion for instructions to the receiver in the case of the Citizens and Manufacturers National bank against Michael J. Sullivan. The case of the Colonial

9. September 13, 1935 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, September 13, 1935

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Foreclosures Granted In Two Courts To-day Judge Newell Jennings Officiates at Opening of Civil Term-Bank, HOLC Given Judgments Off Galendar Foreclosure judgments were entered against local property in both Judge Jennings allowed motions the superior and common pleas to go off the short calendar in the courts today. Judge Newell Jenfollowing cases: Aurelie H. Granings of Bristol opened the fall ham against Olive M. Meier; and civil term of the superior court Herbert J. Wilcox against the this morning and was greeted by Farer News company. Attorney Herman J. Weisman, In the case of the Waterbury president of the local bar associaSavings bank against Annie Galtion. Judge Edward J. Finn previn, a motion to cite in an adsided at the common pleas court ditional party defendant was session. granted. Similar action was taken in the cases of the Home Owners' In the superior court Judge JenLoan corporation against George nings granted a foreclosure judgment in favor of the Waterbury Dowling and the George L. Lilley company against the Peoples Coal Savings Bank against Angelo Coland Oil Company, Inc. Decision antonio amounting to $3,787.22 and was reserved on a motion to reset October 1st as the law-day. In open judgment in the case of the the common pleas court Judge Waterbury Savings bank against Finn found for the plaintiff in the Marion Peters Hamilton. foreclosure action of the Home Owners' Loan Corporation against Judge Finn in the court of comEarl D. Anderson. The debt was mon pleas granted a motion for placed at $7,211.17 and Novem judgment in the case of the Tilo 4th was named as the law-day. Roofing company, Inc., against Decision Reserved Charles Lanosa and also approved Judge Jennings in the superior the termination of a previously court granted a motion involving granted continuance in the case of instructions as to a set-off for Mary J. St. Pierre against George Arthur T. Minor in the case of ArF. Vogt. The court ordered a more thur T. Minor against the Waterspecific statement in the case of bury Mutual Loan Association, Margaret Carlin against Mary Inc. In the case of Lester E. Platt and approved the receiver's Shippee, state bank commissioner, account in the action of Elinor E. against Alfonso Russo, Judge eJnVaill, trustee, against Colagera Dinings reserved decision on a moSalvo. tion to accept the receiver's report. Final Accounts He also reserved decision on an apThe final receivers' accounts plication for jinder as party plainwere also accepted by Judge Finn* tiff in the case of Ernest J. Crockin the cases of Philip T. Gervais ett against the New Haven road. against the East Hartford Trust A bond of $75 to prosecute was company, administrator, and the ordered within two weeks in case Citizens and Manufacturers Naof Harold Herman against Charles tional bank against Joseph E. Moshier. Similar action was taken Charron. A motion to transfer was in the cases of Victor Petrauskas allowed in the suit of Joseph Janagainst Raymond Cestar and owitz against Tedoski Parnczik. John Pttrauskas against Raymond Judge Finn ordered answer filed Cestar. In the case of Ernest Terry in the cases of Earl R. Gracie against Gwendolyn Terry, counsel against William Keavney, Jr., and fees amounting to $50 were ordered Olive Major against August Gruesand alimony of $4 weekly was orsinger. dered paid pending trial of the Motions in the cases of Milton case. J. Albert against Morris Reiger, the Motions going over fo ra week Se. vice Manufacturing company, involved the following cases in the Inc., against the Howland-Hughes superior court: Waterbury Savings Bank against Georgianna Gervia; Floyd B. Marsh against Mary Read Afternoon Tea Marsh; Joseph Pastek against Anna Pastek; Mary Raggo against Louis INCLUDES Raggo; Colonial Trust Company, DELICACIES trustee, against Mary A. Finn; AT Rose Zitzimann against Giovannina NINA'S Genua and the Home Owners' Loan 25% Served from 2 to 5 P. M. Corporation against Morris Kosersky and Sons, Inc.

10. September 13, 1935 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, September 13, 1935

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Off Galendar Judge Jennings allowed motions to go off the short calendar in the following cases: Aurelie H. Graham against Olive M. Meier; and Herbert J. Wilcox against the Farer News company. In the case of the Waterbury Savings bank against Annie Galvin, a motion to cite in an additional party defendant was granted. Similar action was taken in the cases of the Home Owners' Loan corporation against George Dowling and the George L. Lilley company against the Peoples Coal and Oil Company, Inc. Decision was reserved on a motion to reopen judgment in the case of the Waterbury Savings bank against Marion Peters Hamilton. Judge Finn in the court of common pleas granted a motion for judgment in the case of the Tilo Roofing company, Inc., against Charles Lanosa and also approved the termination of a previously granted continuance in the case of Mary J. St. Pierre against George F. Vogt. The court ordered a more specific statement in the case of Margaret Carlin against Mary Platt and approved the receiver's account in the action of Elinor E. Vaill, trustee, against Colagera DiSalvo. Final Accounts The final receivers' accounts were also accepted by Judge Finn* in the cases of Philip T. Gervais against the East Hartford Trust company, administrator, and the Citizens and Manufacturers National bank against Joseph E. Charron. A motion to transfer was allowed in the suit of Joseph Janowitz against Tedoski Parnczik. Judge Finn ordered answer filed in the cases of Earl R. Gracie against William Keavney, Jr., and Olive Major against August Gruessinger. Motions in the cases of Milton J. Albert against Morris Reiger, the Se. vice Manufacturing company, Inc., against the Howland-Hughes