Commercial Savings Bank & Trust Company (Toledo, OH)

Episode Information

Episode UID
56001471580
Episode Type
Run → Suspension → Reopening
Bank Type
trust
Bank ID
5600147 routing
Routing Number
56-0014
Start Date
August 17, 1931
Location
Toledo, Ohio (41.664, -83.555)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f3a0233e515dc8aa

Response Measures

None

Description

Closings were precipitated by prior local bank failure (Security Home Trust); the closed bank later participated in reorganization and dividend payments.

Events (4)
1. August 17, 1931 Run
Cause
Local Banks
Cause Details
Runs and heavy withdrawals were precipitated by the earlier closing of the Security Home Trust Company and contagion from other local bank failures.
Measures
Directors closed bank to conserve assets; other local banks met withdrawals promptly; police and examiners deployed.
Newspaper Excerpt
steady stream of depositors, who withdrew their funds and dispersed. Withdrawals were being met promptly.
Source
newspapers
2. August 17, 1931 Suspension
Cause
Local Banks
Cause Details
Directors closed the bank and state banking department prepared to take over after sustained withdrawals and contagion from other bank failures (Security Home Trust).
Newspaper Excerpt
Four Toledo banks with combined resources of more than $100,000,000 were closed today by orders of the state banking department and directors.
Source
newspapers
3. December 15, 1931 Other
Newspaper Excerpt
Under the salvaging plan... a new bank and three holding companies are being organized to take over the Ohio, the Commercial and the Security-Home, December 15. Initial credit from the old banks will average 20 percent. The rest of the assets will be deposited separately with the holding companies. The new bank is to be capitalized ... The successor also will open December 15, and will put 30 percent of each old deposit in new accounts. (reorganization plan announced).
Source
newspapers
4. March 27, 1932 Reopening
Newspaper Excerpt
Open Another Toledo Bank. TOLEDO. O., March ... the new bank organized by 925 depositors ... for Commercial Savings Bank Trust Co.... distribution of an 000 dividend depositors of former Commercial Bank, payment of which has been ordered ...
Source
newspapers

Newspaper Articles (17)
1. August 16, 1931 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, August 16, 1931

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Silver Bar silver continued un changed at the close of the week holding at 27% an ounce New York and 12% pence in London Washington, August 15the Farm Board finally will adopt to the Southern cot farmer his low dilemma tonight the close interest of toel-Operations of steel mills in Washington the Youngstown district next week Hope been virtually abandoned will average per cent of rated for its proposal that third of the an increase of one per cent current crop be destroyed and over the past week, Dow, Jones & ization supplies held off the market Co. estimates. for year At least five actual rejections been received the Governors TOLEDO BANKS CLOSED. who were asked to join in the program. Three Savings Institutions Turned There apparently is no immediate Over To State Department. prospect of action although many to that Toledo, Ohio, August end have out. The disposit Directors of the Ohio Savings Bank seems be to leave the actual for & Trust Co., the Guard plan squarely up to the board to be Trust & Savings Bank and the worked out the counter Commercial Savings Bank & Trust proposals put forward by Governors. Co., at special meetings tonight. de- Senators and cided to close the three board members continued banks and turn their assets their efforts to reach an agreement the State Superintendent of Banks with the directors the American This action means that the three Cotton Cooperative Association on down-town banks and their 34 the amount advances to be branches throughout the ed in handling this city not be opened Monday year's The bumper morning pective crop 15,584,000 In the of said the this action for protection of all de- tions have been in process for during an unparalleled several days. TRY OUT GROUP MARKETING Salem, Ohio, August Orchardists Mahoning and Columbiana Counties today began their first in group marketing. They completed deal whereby large of the apple and peach will be sold an agency 700 and 800 cars of fruit will be shipped with East Palestine New Coford and Canfield

2. August 17, 1931 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, August 17, 1931

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FOUR BANKS IN TOLEDO CLOSED 34 Branches Are Affected; $100,000,000 Resources. By United Press TOLEDO, O., Aug. 17.-Four major Toledo banks and their fourteen branches, with combined resources of more than $100,000,000 and 150,000 acounts, were closed today by orders of the state banking department and directors. The institutions were the Ohio Savings Bank and Trust Company, the Commerce Guardian Trust and Savings bank, the Commercial Savings Bank and Trust Company and the American bank. Other banks remained open and announced they were prepared to withstand heavy withdrawals. The four closures were precipitated by the closing several weeks ago of the Security Home Trust Company, it was said. As notices were posted on the windows of the institutions, every available policeman in the city was ordered on duty, but there was only one instance of disorder. An irate citizen tossed a bottle through the window. of a branch bank. Under a force of sixty men of the state banking department, augmented by six examiners of the federal reserve bank system from Cleveland, the task of liquidating the four suspended banks was immediately begun. As work of liquidation was started, crowds of anxious depositors thronged about the institutions, but there was no disorder. Traffic presented the greatest problem. Other local banks drew a steady stream of depositors, who withdrew their funds and dispersed. Withdrawals were being met promptly.

3. August 17, 1931 Des Moines Tribune Des Moines, IA
Article from Des Moines Tribune, August 17, 1931

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TOLEDO BANKS FAIL TO OPEN Had Resources of More Than 100 Million Dollars TOLEDO banks combined of more than 100 million dollars to open for business day while 11 saving sociations ceased payments of posits during the present cial The state banking department prepared the banks affairs to conserve in face of previous steady withdraw. Police and detectives patrolled the banking districts in preparation for any public emergency Late Saturday, directors announced closing of the Guardian Trust and Savings bank the Ohio Savings Bank and Trust CO. and the Commercial Savings Bank and Trust co. Directors of the fourth institution, the American bank state bank Sunday it would be forced to close its doors also because its reserves were tied up in two of the banks suspending

4. August 17, 1931 The Iola Register Iola, KS
Article from The Iola Register, August 17, 1931

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Hundred Million in posits Tied Up In City Toledo, Ohio, Aug. 17. Four Toledo banks with combined resources of more than failed open for business this morning, while eleven savings associations ceased payments of deposduring present financial situation. accordance with the request directors the four institutions, state banking department their affairs conserve assets in the face of vious steady withdrawals by depositors. City police and detectives. acting under orders Police Chief Louis Haas. patroled the districts any public The action of directors ties for an indefinite period more than of deposits. The Security Home Trust company when closed had about deposits; Ohio Savings Bank Trust company almost Commercial Savings Bank Trust company and Commerce Guardian Trust Savings Bank There disorders when banks affected by the closings opened here There crowds. the banks. Neb., Aug. banks today failed open their business and both Bryan secretary the state trade and merce, said the closings were the result recent bank suspensions Omaha. The six banks with total deposits the State Bank Dale: Dwight State Bank of Dwight; Brinard State Bank Brinard: Bruno State Bank the Butler County Bank of Davis and the Leigh State Bank Leigh.

5. August 17, 1931 The Modesto Bee Modesto, CA
Article from The Modesto Bee, August 17, 1931

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FOUR OHIO BANKS, SIX IN NEBRASKA HALT PAYMENTS Eleven Savings Associations Shut Down During Money Crisis Four Toledo banks combined of more than $100,000,000 failed to open for business this morning, while eleven savings sociations ceased payments of posits during the present financial In accordance with the request the four institutions, the state department pared to take over their affairs to conserve assets in the face of previous steady withdrawals by depositors. City police and detectives, acting orders Chief Louis Haas, patroled the banking districts in preparation for any public emergency Conference Pending Meanwhile there was pending meeting between Mayor W. Jackson and Adjutant General Frank Columbus. More than 100 rural bankers of who met terday with State yes. of Banks Ira Fulton and Charles Saffin, attorney for the state department, had their assurance co-operation by state authorities in meeting Late Saturday directors announced closing of the Guardian Trust and Savings Bank, the Ohio Savings Bank Trust Company and Commercial SavBank and Trust Company Yesterday, in the wake of these came word from directors of the fourth the American Bank, state bank, that it would be forced to close doors also because its reserves were tied up in two of the banks suspending operations. CLOSE IN NEBRASKA LINCOLN, Neb., Aug. Six Nebraska state banks failed to for business to-day. Gov Charles W. Bryan and E. H. Luisecretary of the state department of trade and said the closings were the result of rebank suspensions in Omaha. The six banks had total deposits of approximately $1,120,000

6. August 17, 1931 The Fresno Bee Fresno, CA
Article from The Fresno Bee, August 17, 1931

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Oranges Higher In Spots While Lemons Are Easier LOS ANGELES. Aug. 17.-(P)-California oranges were higher in spots and lemons were easier to lower on eastern and middlewestern fruit auction centers to-day, early reports indicated Carlot of citrus fruits for the United States by the govreports from Financial Notes 15th: Southern SAN FRANCISCO, Aug. 17.-(P) California crude oil production was estimated by the California Oil World to-day at 513,000 barrels South daily for last week's average This was an increase of 7,100 barrels daily over the preceding week's estimate. The corresponding week of 1930 was 105,950 barrels daily higher than last week. Carlot California State Park 4 per cent bonds totaling 376,000 will be sold Covina September 4th The first block of $194 will mature 2nd 1948 and the remaining $182,000 year later. Receipts for 1,455 California hotels having twenty-five or more guest rooms amounted to about $92,000,000 in 1929, the census bureau reported turning from two months' trip to Europe, Hubert Parson, president of W. Woolworth Co. said he business conditions abroad especially in France Seal showed some improvement. NEW ORLEANS UTURES Aggregate net income for the (By Press) first half this year reported by 335 NEW ypical industrial declines 24 amounts to $329,095,000 a 48 per cent decline from the $631,733,000 reported by the same companies in the corresponding period last year survey by Standard Statistics Company says The Federal Reserve Bank of DALLAS COTTON SEED OIL Paula New York has received $1,365,000 in SEED gold from Mexico. 17.-COTTON United Air Lines Show NEW ORLEANS SPOT COTTON Sunkist Press) mont NEW Spot 33 Pct. Gain In Travel middling CHICAGO Aug. The United Air Lines Companies Boe4 Banks Close In Ohio; ing National and Pacific Transport and Varney Air Lines, report6 In Nebraska; Loan ed to-day they had carried 33 per cent revenue passengers in Associations Shut Down July than in United Air Lines is the operTOLEDO (Ohio), Aug. ating subsidiary of the United Air Four Toledo banks with combined Craft and Transport Corporation of more than 000 Valencias Their machines flew in excess of failed to open for business this 1,000,000 miles in July, and carried morning, while savings asso- 6,215 ciations ceased payments of New York to Chicago and Dallas, posits during the present financial Chicago to San Salt Lake City to Seattle and Seattle to In accordance with the request San Diego of the four institu tions, the state banking depart LIVESTOCK MARKETS ment to take their affairs to assets in the BAY LIVESTOCK face of previous steady withdraw Press) els by Late Saturday, directors an nounced closing of the Guardian Trust and Savings Bank the Ohio Savings Bank and Trust Company and the Commercial Sav ing Bank and Trust Company Yesterday in the wake of these came word from directors of the fourth institution the American Bank, a state bank that It would be forced to close its doors also because its reserves were tied up in two of the banks NEBRASKA BANKS CLOSE Aug. Six small Nebraska State Banks failed to to-day. Governor Charles W. Bryan said the closIngs were the result of recent bank in Omaha. They were CHIC LIVESTOCK the First State Bank of Pleasant State Bank of Brainard State Bank Brainard, the Bruno State Bank of Bruno, the Butler County Bank Davis and the Leigh State Bank Leigh Loans On Securities Cut Down By Five Millions Loans on securities dropped $5 000,000 last week the federal reserve bank of San Francisco reported for welfth district. The LOS ANGELES LIVESTOCK D. total loans in fifty banks reportIng weekly from eight leading cities in the seven far western states declined to $310,000,000 on securities collateral. Net demand deposits were up $4,000,000 while time were down that amount The time posits totaled $1.028 and the demand deposits $732,000,000. Lemon

7. August 17, 1931 The Evansville Journal Evansville, IN
Article from The Evansville Journal, August 17, 1931

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4 TOLEDO BANKS AIL TO OPEN TOLEDO, O., Aug. Toledo banks combined of more than $100,000,000 failed to open for business this morning, while eleven saving associations ceased payments of deposits during the present financial situation In the request of four the state department prepared to take over their affairs to conserve assets the face of previous steady withdrawals by depositors. City police and detectives. acting under orders of Police Chief Louis Haas, patroled the in preparation for any public emer Meanwhile there was pending meeting between Mayor W. son and Adjutant General Frank D Henderson, Columbus, commanding the Ohio national guard. Last night, Mayor conferred with Safety Director A. Black and Col. Golson D. Light commanding 148th infantry. Ohio national More than 100 rural bankers of Ohio who yesterday with State Superintendent of Banks Ira J. Fulton and Charles Saffin, torney for the department, had their assurance of cooperation by state authorities in meeting local Late Saturday, directors announced closing of the Commerce Guardian Trust and Savings Bank, The Ohio Savings Bank Trust company and the Commercial Savings Bank and Trust company. Yesterday, in the wake of these ancame from directors of the fourth institution, the Bank bank, that it would be forced to close also because its tied in two of the banks suspending operations.

8. August 17, 1931 The Urbana Daily Citizen Urbana, OH
Article from The Urbana Daily Citizen, August 17, 1931

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LIQUIDATIONS BANKS BEGIN National Banks in No List Are Affected. United Press TOLEDO. Aug. maToledo banks and their 34 branches failed to open for busiMonday morning. Every available policeman in the city on duty. but there had been no disorders reported at Groups of people surrounded the doors the banks where formal notices of closing were posted. The banks closed the Ohio Savings and Trust Co., the Commerce Guardian Trust and Savings bank, the Commercial Savings Bank and Trust Co., and the Amerbank The resources of the four institutions given today folThe Ohio Savings Bank Trust Co., according to their last statement June The Commercial Bank. Commerce Guardian Trust Savings Bank, and The American Bank, None the banks closed was national bank Halt Withdrawals The eleven building loan cieties here announced, simultaneously with the closing of the banking institutions, that they would permit no withdrawals until the present situation has cleared. At one of the branch banks threw milk bottle through the window after he had hurriedly scanned the formal closing notice. the only evidence of violence. The Morris Plan Bank and the Industrial bank unaffected by the situation. Planned Merger The Ohio. Commerce Guardian and Commercial banks were closed by their directors special meetings Saturday night, which followed weeks of negotiations the banks in an attempt merge the three institutions. When came apparent these negotiations could not be completed fore the expiration of the 60-day no tification period, placed upon with drawals following closing of the Security Home Trust June decided to close the three banks. The American Bank closed its doors because clears through the Ohio bank and its reserve was the Commercial bank. Closing banks, is believed. will negotiations between the Ohio, Commerce Guardian and Commercial for merger and these negotiations will be pressed with all possible vigor, was said. Conserve Assets Closing the three larger banks ordered, was explained by officers, to conserve assets well permit reorganization plans to continue uninterrupted by heavy run that was pected Tuesday when the 60-day period for deposits pired. Ira Fulton. state superintendent of banks, in charge of all four institutions. He recruited staff of about 100 men over the This corps met Sunday Fulton and assigned duty in the various banks and branches. The men will work connection with the regular staffs of all the closed banks until assets been checked and liquida tion routine has been established. Fulton said that although the banks now in process of liquidation, he not only would approve any feasible plan for merger reorganization, would assist in every consistent with the pol icy of his department to alleviate the situation and restore Toledo's financial structure to normal basis. Directors were emphatic in their declaration that, under normal con ditions. all the banks were solvent and could have continued payment as long depositors demanded their money Hysteria, which fol lowed the closing of the Security bank, precipitated run that has not abated. Neb., Aug. state banks having deposits esti mated an aggregae of $1,120,000 voluntarily closed their doors to The closures according to Governor Charles W Bryan spoke for the state banking department result "of the closing of the Union State Bank of Omaha

9. August 18, 1931 The Times Hammond, IN
Article from The Times, August 18, 1931

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$11,000,000 QUIETENS THE DEPOSITORS of from the Cleveland was credited today with confidence in stability of Toledo's four banks which were yesterby the closing of four brother Officials the four solvent banks advised depositors that anyone wanted his money could come and get The statement resulted in the of many withdrawn acexpression of the Federal bank sent 000,000 to the four banks late yesterday. Meanwhile staff of 60 state and federal examiners continued their task of liquidating the Ohio Savings Bank Trust company, the Commerce Guardian Trust and Savings company, the Commercial Savings Bank and Trust company and the American bank, which of approximately $100,000,000.

10. August 18, 1931 The San Francisco Examiner San Francisco, CA
Article from The San Francisco Examiner, August 18, 1931

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BOOST the on both old and crop raisins boosted and pound by Sun Maid Raisin today, while the California raisin pool scheduled offer rest its 1930 pack afternoon an increase cent The Sun Maid brings its raisin prices to their highest since 1928. The co-operative's entire list goods raised cent pound, making the new price carton seedless cents per pound and seeded muscats cents. Bulk goods were increased cent pound. Choice bulk Thompsons quoted 5% cents per pound, fancy and choice seeded muscats cents pound. Aug. Universal Federal Reserve Bank today shipped trucks Toledo, the request Toledo Banks, to money pay abnormal number of The shipment conducted with the utmost secrecy. but beknown when the trucks wrecked an auto crash driver two guards The money ferred another Four Toledo banks failed to open this morning Directors this action taken protect the banks and stockholders from unprecedented of hysteria.' The four Ohio Savings Bank Trust Commerce Guardian Savings Bank, the Commercial Savings Bank and Trust Company and the Bank. Eleven building and loan associations Akron, Barberton and Cuyahoga Falls temporarily pended cash payments on withtoday. One largest institutions taking the action was the Akron Savings Loan Association. Albright, its president, said: took action the obvipurpose of protecting positors. There no question of insolvency and the suspension cash payments merely temporary." LINCOLN Aug. Associated small state banks failed to open for business today. Charles W. Bryan and Luikart, Department Trade and the closings the result recent bank in

11. August 18, 1931 The News-Herald Franklin, PA
Article from The News-Herald, August 18, 1931

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RESTORED BANKS OF Arrival of $11,000,000 From Cleveland Federal Reserve Eases Situation After 4 Close. $11,000,000 from the Cleveland eral Reserve Bank was credited today with restoring confidence in the stability Toledo's four banks which were with heavy runs yesterday by the closing of four brother Officials of the four solvent banks advised they were in cure position meet any demands and that every depositor who wanted his money could come and get it. The statement resulted the return many withdrawn accounts. Horton Rorick president of the Rorick Trust and Savings Bank, reported ceipt many new accounts with withdrawals exceeding deposits by only slight margin. Meanwhile staff of 60 state and six Federal examiners continued their mammoth task of liquidating the Savings Band and Trust Company, the Commerce Guardian Trust and ings the Commercial Savings Bank and Trust Company, and the American Bank. which with combined of approximately $100,000,000. Banks in Toledo's trade area were reported in good condition today.

12. August 18, 1931 The Brooklyn Daily Times Brooklyn, NY
Article from The Brooklyn Daily Times, August 18, 1931

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Federal Reserve Restores fidence in Institutions After Four Others Close. from the Cleveland Federal Reserve Bank credited today with restoring confidence the stability of Toledo's banks, which were threatened with heavy runs yesterday by the closing of our InstituOfficials of the four solvent advised depositors they were secure position to meet any demands that every depositor wanted his money could come and get The statement resulted the return of many withdrawn Horton Rorick, president of the Trust and Savings Bank, reported receipt of many withdrawals exceeding deposits by only slight of confidence Federal Reserve Bank sent the four banks late yesterday slight mishap occurthe with The money transferred another truck the fast trip staff of 60 State six federal continued attempt liquidating the Bank and Trust the Trust and Compnany, the Commercial Savings Bank and Trust Company the American Bank, pended with combined resourcts of Banks Toledo's trade area in good condition day.

13. August 27, 1931 The Plain Dealer Cleveland, OH
Article from The Plain Dealer, August 27, 1931

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WILBUR TO BE TOLEDO BANK CZAR State Superintendent Appoints Clevelander to Reorganize Finances. Rollin A. Wilbur of Cleveland long prominent in financial circles, is to take of the Toledo banking charge situation out of the closing growing recently three banks in that city, in an effort to extricate them from their Fulton. superintendent of banks of Ohio. yesterday named Wilbur as his deputy The was then given approval by Gov. George White and by the Federal Reserve Bank of Cleveland According to orders of Supt. Fulton Wilbur will immediately take of the Ohio Savings Bank charge Trust Co., the Commerce Guardian Trust Savings Bank and the Commercial Savings Bank & Trust Co. whose closing tied up total resources of around Under the orders appointing will immediately direct his attention to reorganization problems with the purpose of best results the circumthe stances will permit in the quickest possible time The Ohio law provides that member the department of the of intendent of banks cannot have any official connection with any bank under its supervision. Upon receiving the appointment the for ings and director of the Central United Bank, immediately sent in his resignation to the InstiWilbur is director of the Union Joint Stock Land Bank of Detroit and the New York Stock Land Bank he not required to relinquish do not come the class of bank. ing institutions affected by the inhibition clause 'My sole aim will be to untangle the situation and do my best to help ers concerned. Wilbur said Just what steps will be taken will not know until have had time to investigate Wilbur was pushed into the financial limelight as of the leading conservative minds of the financial world quote the expression of David Lawrence publisher of the United States Daily by his speech made as president of the Investment Bankers Association of America at the 1929 convention in Quebec. The speech was made about ten days before the crash came on the New York Stock Exchange It was taken as warning against the orgy of speculation borrowed money and was widely quoted after the crash. Wilbur born on farm near Wellington, O., and after graduation from high school worked in banks there. studying law in his spare time. He was admitted to the Ohio bar 1897. Coming to later he attended Reserve Law School, being graduated in 1900. and then attended Harvard Law School for two He was general counsel for the Utah Power Light Co. Salt Lake City, from 1913 to 1915. Then he returned to and as. sociated with Herrick James Parmelee and Parmely W. Herrick. He now vice president of Mitchell, Herrick & Co. Wilbur was chairman of the northern Ohio group of the Investment Bankers Association in 1924 and 1925 and served as a member of the board of governors in 1925-26 and as vice president from 1926 to 1928, when me was elected president of the national He a member of several leading clubs.

14. November 23, 1931 Evening Star Washington, DC
Article from Evening Star, November 23, 1931

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PROSPERITY PLAN WORKS IN TOLEDO Set-up Devised to Make Good All Deposits in Four Big Banks Which Closed. By the Associated Press. TOLEDO, Ohio, November 23.-Without waiting for a return of Nation-wide prosperity to give it a helping boost, this city, hard hit by a series of large bank failures, is pulling itself out of the mire "by its boot-straps." Although approximately $100,000,000 was tied up in the four big banks which closed several months ago, Toledo has kept the wheels of commerce running steadily, and 'now at last things are getting better. Factories are working faster and longer, retail trade is picking up, people on the streets are smiling again, and best of all-the closed banks are expecting to pay a hundred cents on the dollar. The initial dividends of 15 to 30 per cent are scheduled to be paid December 15. Ingenious Scheme Devised. The four large banks which closed, and their approximate deposits, were: Ohio Savings & Trust Co., $36,000,000; Commercial Savings Bank & Trust Co., $17,000,000; Security-Home Trust Co., $20,000,000, and the Commerce-Guardian Trust & Savings Bank, $18,000,000. An ingenious scheme was devised to cope with the problems of these closed institutions. Instead of selling their assets at "distress-sale" prices, special financial machinery is being set up to give the depositors all the ready cash possible, yet save them from the losses of a hasty liquidation. Under the salvaging plan, approved by the State banking department, a new bank and three holding companies are being organized to take over the Ohio, the Commercial and the Security-Home, December 15. Fourth to Be Reorganized. All available cash and prime securities are to be transferred that day to the new bank and credited pro-rata to the old despositors. The initial credit from the old banks will average 20 per cent. The rest of the assets will be deposited separately with the holding companies. The new bank is to be capitalized at not less than $2,500,000, of which half is to come voluntarily from the depositors themselves. The fourth bank, the Commerce-Guardian, will be reorganized under a new name, independently of the others. Its successor also will open December 15, and will put 30 per cent of each old deposit in new accounts.

15. December 18, 1931 The News-Messenger Fremont, OH
Article from The News-Messenger, December 18, 1931

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PAY DIVIDENDS FOR CHRISTMAS TOLEDO, Dec. the way for the distribution of $6,500,000 depositors of three closed Toledo banks before Christmas, Common Pleas Judge Martin today approved the plans for dividend payments arranged by banking officials, per cent dividend payment be made the Commercial Savings Bank Trust Company, and cent dividends paid by the Ohio Savings Bank Trust Company, the Home Trust Company, it anPayment of the dividends by the three closed banks, which recently abandoned plans for consolidating single institution because support from begin next

16. March 27, 1932 The Plain Dealer Cleveland, OH
Article from The Plain Dealer, March 27, 1932

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Profit or Loss UNION CARBIDE & CARBON CORP. reports for 1931 net income after all charges of $18,029,522 equivalent to $2 share on 9,000,743 shares stock against $28 041 of capital year before or 3.12 During the company wrote assets drastically restating their value in terms of lower 1931 prices. Surplus account was lowered to $43. 659 275 against previous year's figure of $98 Current were $81,784,972 at end of which $14 was in cash and $11 341.267 in marketable This compared with rent liabilities of MAY DEPARTMENT STORES ports for year 31 profit of $2.197 290 after compared with 953 preceding fiscal PATINO MINES & ENTERPRIS ES. CONS INC. reports 1931 loss of £87,305 with 1930 net loss of £158,004 No attempt been made to translate earnings last year into dollars because fluctuating value of sterling PORTO RICA TOBACCO reports 1931 loss of $238,200 after charges but before with 1930 net 85 cents share Class stock CONSOLIDATED TEXTILE CORP. reported for year Jan. 1932. net loss of compared with net loss 199 period from Dec 28, 1929. to Jan. 1931. Open Another Toledo Bank. TOLEDO. O., March bank grow from the which closed here last June and the Citizens Trust Co. opened First task the new bank. ganized by 925 depositors the forCommercial Savings Bank Trust Co. and some the Ohio Savings Bank Trust Co. be distribution of an 000 dividend depositors of former Commercial Bank, payment of which has been dered for Monday by state superintendent of banks and Common Pleas Court.

17. August 11, 1933 Woodville News Woodville, OH
Article from Woodville News, August 11, 1933

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Plant Proceeds Are Distributed The $35,000 proceeds of the sale recently of the W. H. Bruns Hydrated Lime Co. of Woodville to a firm of Toledo attorneys, following receivership proceedings begun in common pleas court in July, 1929, by the F. Bissell Co. of Toledo, a creditor concern, were ordered to be placed in escrow with Clerk of Courts Miss Lois G. Felsted as agent last Saturday by Judge Overmyer. At the same time Prosecutor Frazier B. Reams of Toledo, receiver, was allowed additional fees of $4,750 for his services and his counsel, Attorneys Cotter and McFellin were given additional fees of $3,750 and expenses of $38.50 for their services. Attorneys for the bondholders also were allowed fees of $500. Court costs, together with taxes, both real and personal, and penalties also are to be paid immediately out of the funds in Miss Felsted's hands. Likewise are $5,000 worth of receiver's certflicates, plus $600 interest, which the receiver said Saturday that he could settle by paying to I. J. Fulton, state superintendent of banks in charge of liquidating the closed Commercial Savings Bank & Trust Co., Toledo, both cash claims covering deposits in the bank. The receiver also said he believed he could negotiate with Treasurer Herman A. Kowalk for a reduction in the total due for delinquent taxes by paying them and the penalties at once. Holders of the $150,000 worth of bonds issued by the company in 1926 are to receive the remainder on a prorata basis when they surrender their bonds to the clerk. Labor claims for the period of one year prior to the receivership were found to be subsequent to the mortgage of bondholders and disallowed. Reams and his attorneys each hitherto received $750 for their services. These orders Saturday followed hearings on Reams' application for instructions. He reported the deal with the Toledo buyers as entirely closed, the deed delivered and the money paid in.