6495. Security Bank (Louisville, KY)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
November 17, 1930
Location
Louisville, Kentucky (38.254, -85.759)

Metadata

Model
gpt-5-mini
Short Digest
b7fd29bb97a40c78

Response Measures

None

Description

Security Bank (Louisville) suspended operations Nov 17, 1930 as a precaution after the National Bank of Kentucky and Louisville Trust closed; it was later taken over by New York interests (Chemical Bank & Trust) and reopened Nov 24–25, 1930. The articles describe no distinct depositor 'run' on Security (closures called precautionary, though there were crowds at some banks). The cause of the suspension is treated as contagion from other local banks and associated 'wild rumors.'

Events (2)
1. November 17, 1930 Suspension
Cause
Local Banks
Cause Details
Closed as a precautionary suspension because the affiliated National Bank of Kentucky and Louisville Trust Company failed to open amid 'wild rumors' and the holding-company connections; directors deemed it necessary to conserve resources and protect depositors.
Newspaper Excerpt
The Security Bank ... was closed purely as a precaution
Source
newspapers
2. November 24, 1930 Reopening
Newspaper Excerpt
Percy H. Johnston ... assumed control of the Security bank here today and made arrangements for reopening it Monday. ... Reopening of the bank will reduce to fourteen the number of banks closed in Kentucky.
Source
newspapers

Newspaper Articles (20)
1. November 17, 1930 The Courier News Blytheville, AR
Article from The Courier News, November 17, 1930

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National Bank of Kentucky In Charge of National Bank Examiner. Nov. 17 (UP) National Bank Kentucks, at $5,000,000 and an affiliated bank, the company. failed to open thier doors today and the former taken over by national bank examiner notice posted by the b-ard directors signed by Russell national bank examiner, said the national bank was solvent but had been closed conserve The national bank claimed. of $50,000,000. James Brown. president of the and owner newspaper, is president. The bank was organized in 1834 the Bank of Kentucky. It numerous branches. The notice posted by Mooney said: bank is under the direction of the comptroller of currency. in charge of Russell Mooney, bank examiner. It pational closed by order of the board of rectors, November 16, 1930." Brown later issued the following statement: withdrawals in the and constantly increasing on the streets advisable by majority of the directors to closo the of tank, at least temporarily. for the the depositors and interests Two Others Close Ky., Nov. (UP) Louisville Security bank and the American Mutual Savings bank. the latter negro owned and closed their doors today after the National Bank of Kentucky Louisville Trust company failed open for business.

2. November 17, 1930 Evening Star Washington, DC
Article from Evening Star, November 17, 1930

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SIX BANKS YIELD TO KENTUCKY RUN Louisville Closing Followed by Five Others-Solvency Claims Made. By the Associated Press. LOUISVILLE, Ky., November 17.Closing of the National Bank of Kentucky here today was followed by five smaller banks closing up as a precautionary measure, four here and one in Franklin, Ky. Meanwhile presidents of the other banks in the city issued statements asserting their institutions were solvent in every respect and would not be affected. The National Bank of Kentucky, of which James B. Brown is president, was placed in the hands of Paul Keyes of the Federal controller's office as receiver. It's announced resources were $54,000,000. Closing Held Precaution. The other Louisville banks closed were the Security Bank which, it was stated, was closed purely as a precaution: the Louisville Trust Co., which is affiliated with the National Bank of Kentucky, and two comparatively small Negro banks, the American Union Savings Bank and the First Standard Bank. The latter two are not members of the local clearing house association, but did their clearing through the Louisville Trust Co. The McElwain Meguiar Bank & Trust Co. of Franklin, Ky., was the fifth to close. Its announcement said it had to shut down because the National Bank of Kentucky is one of its correspondents and that its depositors would be paid in full. Police Handle Crowds. In Louisville slightly more than normal number of patrons gathered at the other banks, but nothing approaching a "run" was noted, and bank officials issued optimistic statements that the public would not become excited. Crowds around the National Bank of Kentucky and the Louisville Trust Co. delayed traffic slightly, and special police were on duty.

3. November 17, 1930 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, November 17, 1930

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DOORS OF FOUR BANKS CLOSED AT LOUISVILLE 65 Millions Are Listed in Combined Resources; Others Shut. Bu United Press LOUISVILLE, Nov. 17. - The Louisville Security bank and the American Mutual Savings bank, the latter Negro-owned and operated. closed their doors here today after the National Bank of Kentucky and the Louisville Trust Company failed to open for business. The Security bank was afffiliated with the National Bank, which was taken over by the federal controller of currency. The Negro bank was affiliated with the Louisville Trust Company, which was placed in the hands of the state banking commissioner. The four banks combined list resources aggregating $65,000,000. All the institutions were declared solvent, but it was said that it "was necessary to close them to conserve the resources and protect creditors, depositors and all others concerned." Closing of the banks was described in local financial circles as an outgrowth of rumors circulated following the collapse of Caldwell & Co., of Nashville, Tenn., largest investment house in the south. However, James Brown, president of the National bank, reiterated today that plans for a group merger with Caldwell & Co., were abandoned several days before the brokerage went into the hands of a receiver.

4. November 18, 1930 The Courier-Journal Louisville, KY
Article from The Courier-Journal, November 18, 1930

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BANK ACCOUNTS SHOW INCREASE Officials of City Institutions Laud Attitude of Public. STATEMENTS (Continued from First Page.) Farmers Bank & Trust St. both large number new checking and opened today. The outlook savings, is good erally. for better business conditions W. T. of the Trust Company: president Our bank opened many new acsavings counts today. among them several The situation from factory. standpoint is very satisLouis Bauer, president of the St. Trust Company: of opened today, checking savings look accounts. The business outgood. The which Bank of St. Helens. Shively deposited National Bank of Kentucky. closed at Monday afternoon. but board of announced Frank cashsaid the board close the doors in order to avoid a run on The State Banking Commissioner was notified immediately by Mr. Allhas arranged an examination at o'clock Mr. Allgeier said the depositors will not cent reason of the closing. since the amount deposit with National Bank of Kentucky not large enough to material president the Bank to have been ill for some Two Negro institutions the AmeriMutual Bank. First Standard Bank, for which the deposidid not Monday of Louisville Trust Company tied their funds. up Joseph R. of the Amerpresident of the Standard said they expected the banks to reopen as Louisville Trust makes their funds available. Security Bank Closed. notice was placed door the Bank Monday mornin the morning by Bohmer. president, by motion of Charles R. the following resolution adopted: that in order to the for the benefit of depositors, the Board of Directors deem advisable this solvent in their opinoin should business and that be placed the hands of the State Banking CommisRichard M. Bean president of the Louisville plementary Monday. said negotiations merging the Louisville Trust Company and the National Bank of Kentucky were never completed merger National tucky,' Mr. Bean said, been under way for some time. but definite steps were taken. that Louisville Trust Company has responsibility liabilities of the National of Kentucky The directors Louisville Trust Company issued the following Whereas. the board of directors of the Louisville Trust Company has advised the National of Kentucky has closed its Whereas, the Louisville Trust Company opinion its board and could its obligations to its positors permitted but due the the stock and Company by the BancoKentucky Company psychological effect on the public two. the LouisTrust Company in wise National Bank of Kentucky. Whereas. the opinion of the board of directors that closing the National Bank of Kentucky would. company remained cause the LouisTrust the detriment of its Now therefore order to proall depositors creditors and the assets of the Louisville Trust and benefit depositors and all other. resolved that the Louisville Trust hands of the Kentucky on the morning of November BOSWELL OF Police Co-Operate. An order issued late Monday afterDirector Safety Roy W. the stead eight. The all districts by Capt. James object in the done measure He would kept in front of the closed banks at all bank examiners have September quickly completed their other national finding sound the of the National Bank of In congestion the banks. Lieut Oscar Doerting uniformed and the main the Bank Kentucky eight Fifth and Market Trust Company quarters eight Streets the Bank the branches of the Louisville Trust Company Louisville Trust Company's branches are: Crescent Hill 2724 Highland Branch, 970 Street Branch, Fourth and Oak Streets; Parkland Branch, 2808 Dumesnil Street: Shelby Branch, Shelby West Broadway Branch, West Broadway. Ratcliffe until further all patrolwould on duty in shifts enable him every branch bank, well When the Bank of Kentucky organized the State acquired about its placed permanent school recently yielded an 11 per on the original Hundreds of city employes who had drawn on the National Kentucky heard with from Mayor Harrison arrangements have completed cash the checks National Bank. of the partments banks the financial condition of the municipal government was not disturbed. City Funds Involved. Among the municipal funds inFund the extent by general cash balance grade crossing balance protected surety and sewer bonds personal surety bond the directors, all the National Kentucky offset by Board, $74 the Louisville Trust The Board Tuberculosis pital Louisville Trust extent office had the National Bank Mrs. Cora BurReceiver the Jefferson the same covered by an indemnity The State of Kentucky's $3,250.000 bridge bond depositwith the National Bank of Kentucky protected surety bond with the Aetna Casualty and Surety The city's emergency fund not in the institutions. the Fiscal Court's annual revenue of volved. This the of the deposit the National Bank Kentucky. that the position pay ligation due The county distributed salary checks Saturday. not known how many remain be Bridge Commission has the LouisTrust secured by $250,000 bond. Situation Watched. The Courier-Journal Washington Bureau ben W. Barkley. following conferences Treasury officials of the Federal Reserve Board that the Louisbanking would from Washington that would Mr. Mellon's office the suspension the Louisville found that the already had developments. called ficials the Federal Reserve Board and In assured establishwas keenly allaying conditions No direct Federal can applied was Federal sistance Louisville in the St. Louis Reserve Bank Horse Bank Closed. First this city this afternoon by the board directors because the closing their bank, Bank of Kentucky, Louisville, last night. the bank door says: That conserve the bank for the benefit the sense the directors this bank should suspend, at commencing 3:30 o'clock the signed Luther Belle and W. Franklin Bank Closed. Franklin, Nov. 17 Trust Company failed open for business this The bank, organized last report, showed and its capital stock Covington, president. said he added the National Bank Kentucky closed deemed it prudent not to State Funds Believed Safe. The Frankfort Bureau. Frankfort, Emma Cromwell, State Treasdoes believe there of any lengthy tie-up of $3,250,000 the State toll bridge bond funds, which she deposited the National Bank Kentucky weeks National Kentucky the State through Surety She bond for the and R. president, and Corb. resident assistant secrecompany. was assured Chicago New York, that the State proper General, returning Kentucky from ington call advising the failure National Kentucky. expected Dicken, deputy banking in the State in developcashier the FarmDeposit the State the National Bank proThe Farmers Louis- Bank the principal depository for funds. going The only other State fund known to be in closing the NaBank Kentucky 776 shares the of owned the State DeEducation. The stock part of the county fund. according the fund James Cammack. of the partment original investment Department In that State purchased 795 shares the Bank Kentucky was There the the owing Department Education $50.000 of the bond issue The money owed the partment Education, plus $10,830 given to the county school fund by

5. November 18, 1930 The Muscatine Journal Muscatine, IA
Article from The Muscatine Journal, November 18, 1930

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Doors Closed on 8 Kentucky Banks Louisville, Ky.-(AP) Eight Kentucky financial institutions with resources totalling more than $75,000,000 were closed today. The largest of these was the National Bank of Kentucky at Louisville, which was under the control of a receiver, Paul C. Keyes, of the staff of the comptroller of the currency at Washington. Its resources approximate $60,000,000. Directors of the National Bank of Kentucky said the suspension Monday was deemed necessary because of "wild rumors" concerning its condition. Simultaneously with its closing. two affiliated institutions, the Louisville Trust company and the Security bank. suspended operations. The other banks closed were two small negro banks in Louisville, the American Mutual Savings bank and the First Standard bank; the Bank of St. Helens, a Lousiville suburb the McElwain Megular Bank and Trust company at Franklin, Ky., and the First National bank at Horse Cave, Ky.

6. November 18, 1930 The Jersey Journal Jersey City, NJ
Article from The Jersey Journal, November 18, 1930

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EIGHT KENTUCKY BANKS SUSPEND All Solvent, Bankers Say, But Close to Protect Depositors. LOUISVILLE. (AP) Eight Kentucky financial institutions with re sources totalling more than $75,000.000 were closed today. the largest of the National Bank of these was Kentucky at Louisville, which was under control of a receiver, Paul C. Keyes, of the staff of the comptroller of the currency at WashingIts resources approximate Directors of the National Bank of Kentucky said the suspension yesterdeemed necessary because rumors" concerning its condition. with its the Louisville Trust Company the Security Bank, suspended Their said they were solvent that they closed precautionary measure. The three institutions affiliated through the holding com pany. Two small Negro banks in Louisville, American Mutual Savings Bank and the First Bank, which cleared through Louisville Trust later closed. The Bank Helens, urb, also suspended precautionbanks outside of Louisville when the National Bank Kentucky had pended. They were the McElwain Meguiar Bank and Trust Company Franklin, the First National Bank Horse Cave, The Na tional Bank Kentucky served correspondent for of leading Louisville banks night declaring were greater opened during the day. and reiterated earlier statements that the institutions solvent. rallied against the shorts quite sharply, and looked as though the short interest in Case not making the progress had hoped make. Amusement stocks well. especially Brothers Pictures and there was no weaklate rally erased early declines points, and prices generally above ing the rubber shares the lifted U. Rubber Goodpoints and Goodyear Can, Sears Roebuck and Electric Power Light advanced and Steel, General Electric, Texas Corp. and Montgomery Ward point above the Sales approximated 2,000,000 shares

7. November 18, 1930 The Washington Times Washington, DC
Article from The Washington Times, November 18, 1930

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Eight Banks in Kentucky Suspend All Business LOUISVILLE, Nov. 18 (I.N.S.). Business was suspended today at eight Kentucky banks having resources of approximately $70,000,000. Among them was the National Bank of Kentucky, a 96-year-old institution, for which a receiver was named bv the Federal controllers' department. The Louisville Trust Company and the Security Bank closed their doors, as a precautionary measure, according to the directors. Both institutions are solvent, directors said. Other institutions to suspend business were the American Mutual Savings Bank and the First Standard Bank, both clearing through the Louisville Trust Company; the Bank of St. Helens, Louisville suburb; the McElwainMeguiar Bank and Trust Company, of Franklin, Ky., and the First National Bank at Horse Cave.

8. November 18, 1930 Palladium-Item Richmond, IN
Article from Palladium-Item, November 18, 1930

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8 Leading Financial Institutions Close in State of Kentucky LOUISVILLE, Ky., Nov. Eight Kentucky financial institutions resources totalling more than $75,000,000 were closed today. largest these the National bank Kentucky at Louisville, which was under the control of receiver, Paul C. Keyes, of the staff the currency resources approxi$60,000,000. Directors of the National bank of Kentucky said the suspension terday necessary condition. with closing, affiliated institutions, the Louisville Trust company the Security bank, suspended operations. Their said they solvent that they were closed The affiliated through the holdcompany. small negro banks in ville, The Mutual the First which cleared through the Trust company later closed. The bank of St. Helens, subalso suspended as precautionmeasure Two banks outside Louisville closed when learned The National bank of Kentucky pended. They were Meguiar Bank and Trust company Franklin, the First tional bank Horse Cave, National bank served Officers other Louisville banks night declaring yesterday's deposits greater than withdrawals, reported new accounts were opened during the day, earlier statecents that the institutions were vent.

9. November 18, 1930 Montpelier Evening Argus Montpelier, VT
Article from Montpelier Evening Argus, November 18, 1930

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SATISFYING That Now Faces the Conference Relative to Naval Limitations Geneva, Nov. preparatory disarmament commission today adopted the first article of the naval armament section of the draft vention providing for total elimination and reduction of tonnage. Immediately after approving the soviet proposal to insert the word "reduce" in the report, the commission rejected Russian effort to eliminate from the draft ad provision for exempting list of "special vessels" from limitation. Debate today was waged around the desire of the smaller naval powers for great freedom to transfer tonnage the categories of small ships which they regard as essential to their fense needs. Both Mr. Gibson and Lord Cecil expressed sympathy with this attiwhile suggesting that policy building submarines without limit might prove grave menace to peace. The Spanish, Swedish and Russian delegates offered amendments to this freedom to the smaller navies. The dividing line between big vies which would be bound by gory limitation and small navies which wouldhave full liberty of transfer then came up. The Spanish representatve wishes to leave formation of this line to the conference. Sweden wished to hold at 10,000 tons while Russia proposed 200,000 tons. The commission then proceeded seek agreement on the next two ticles which provide for limitation categories and the right of transfer for percentage of tonnage from category to another. These three provisions are parallel those of the London naval treaty. The Russian delegation succeeded getting insertion of provision for reduction as well limitation in the phraseology of the first articles. Here Maxim the Russian representative, found himself in the majority for the first time this sion of the commission. Hugh Gibson, the American delegate the British and the French, had in agreeing with this Soviet joined proposal. Unable to agree on how to satisfy the desire of the smaller naval powers for freedom transfer in more gories, the commission entrusted this problem for study to small committee made up of the chief delegates Russia, Japan, Sweden, Spain and of Greece. Conditions in That State Are Alarming in Financial Circles, It is Said Louisville, Kentucky financial institutions with resources totaling more than 000,000 were closed today. The of these was the national bank Kentucky at Louisville, which was under the control of receiver, Paul Keyes, of the staff of the troller of the currency Washington. Its resources approximate $60,000,000. Directors of the National Bank Kentucky said the suspension yesterday was deemed necessary because rumors" concerning its conditSimultaneously with its closing, affiliated institutions, the Louisville Trust company and the Security bank, suspended operations. Their directors said they were solvent and they closed precautionary measures. Officers of the other leading Louisbanks issued statements last night declaring yesterday's deposit greater than the withdrawals, reported new accounts were opened during the day, and reiterated statements that the institutions solvent.

10. November 18, 1930 The Journal Meriden, CT
Article from The Journal, November 18, 1930

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which was under the control of receiver, Paul C. of the staff the comptroller of the currency at Elastic Washington. Directors of the National Bank of Kentucky said the suspension yesStockings terday was necessary because of "wild rumors" concerning its conwill relieve and predition. with its closing. two affiliated institutions, the vent varicose veins, Louisville Trust company and the sprained Security Bank. suspended operations. limbs, dislocations. Their directors said they were solvent and that they were closed as pre- Specialist Always cautionary The three inAttendance stitutions are affiliated through the holding company. Linen $2.75 Officers of other leading Louisville Silk $3.95 to $5 banks issued statements last night de claring yesterday's deposits were greater than the withdrawals. reported new accounts were opened during the day, and reiterated earlier state- Alling Rubber Co. ments that the institutions were solv12 West Main St. Phone 1672 ent.

11. November 18, 1930 The Greensboro Record Greensboro, NC
Article from The Greensboro Record, November 18, 1930

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RUMORS CAUSE ACTION; LARGE RESOURCE FUND Financial Institutions Total $75,000,000; National Bank Is the First to Close TAKE STEP Directors Quick to Suspend Activity When Wild Rumors Get Underway LOUISVILLE, Nov. Kentucky financial institutions with resources totaling more than $75,000,000 were closed today. The largest of these was the National Bank of Kentucky Louisville, which was under the control receiver, Paul Keyes, of the staff of the comptroller of the currency Washington. Its resources approximate $60,000,000. Directors of the National Bank of Kentucky said the suspension yesterday deemed necessary cause "wild rumors" concerning condition. Simultaneously with its closing, affiliated institutions, the Louisville Trust company the Security bank, suspended operations. Negro Banks Close. Two small negro banks Louisthe American Mutual Savings bank and the First Standard bank, which cleared through the LouisTrust company, later closed. Bank Helens, Louisville suburb, suspended cautionary measure. Two banks outside Louisville also closed when learned the National Bank Kentucky had pended. They were the McElwain Bank and Trust company Franklin. and the First National bank Horse Cave, Ky. The National Bank of Kentucky served correspondent for both.

12. November 23, 1930 Chattanooga Daily Times Chattanooga, TN
Article from Chattanooga Daily Times, November 23, 1930

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NEW YORK FINANCIERS TO SAVE SECURITY BANK LOUISVILLE Ky., Nov. 22 (P).-Percy H. Johnston, president of the Chemical Bank and Trust company, of New York, and associates assumed control of the Security bank here today and made arrangements for reopening it Monday. The bank closed Monday after the National Bank of Kentucky the Louisville Trust company, with which it was affiliated through the Banco Kentucky company, holding corporation, closed their doors Today's transaction severed all connection between the Security bank and Banco Kentucky. It was announced that the Security bank has made to distribute Christmas savings checks Nov 29 to about 1,000 depositors Officers said the institution has ample cash to meet all liabilities. Reopening of the bank will reduce to fourteen the number of banks closed in Kentucky.

13. November 25, 1930 The Paducah Sun Paducah, KY
Article from The Paducah Sun, November 25, 1930

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LAURENT IS NAMED AS RECEIVER FOR BANCOKENTUCKY Officials of Security Bank Report Large Deposits On Reopening tide of sentiment among inland LOUISVILLE, KY., Nov. 25 (P)waterways advocates against oppoAppointment of a receiver for Bansition of railroads to government cokentucky Company, holding coraid for waterway development was poration for the closed National seen today in the attitude of leadBank of Kentucky and other finaners of the Mississippi Valley Associal institutions, and reopening of ciation in convention here. the Security Bank at Louisville were The sentiment was defined by W developments in the Kentucky finR. Dawes, Chicago, president of the ancial situation yesterday. association, who said waterway adJ. S. Laurent, Louisville attorney, vocates could scarcely be counted was made receiver for Bancokenas allies of the railroads if the tucky after the bank directors and latter persisted in their attacks representatives of the Chemical Bank upon barge line development Imand Trust Company, New York, petus was given his statement by consented to the action, saying it Secretary of War Patrick J. Hurwas taken to conserve the comley who criticized the railroads last pany's assets. Laurent qualified unnight for opposing government subder $650,000 bond, with the Fidelsidies to waterways The secretary ity and Deposit Company of Marypointed out that the early developland as ment of railroads was helped treOfficials of the Security Bank re- mendously by land grants, subsiported large deposits during the dies and aid from federal soldiers first day of business after the re- and engineers. opening. The bank closed last Mon- Taking the same stand, Senator day after the Bank of Kentucky Smith W. Brookhart of Iowa, assuspended operations. aSturday it sailed the railroads for their "camwas taken over by a group of men paign of propaganda' against watassociated with the Chemical Bank erway development. The raising and Trust Co. of New York. of the railroad issue was unexReports Condition Sound pected in the convention in the light of a statement by former ConO. S. Denny, state banking comgressman Cleveland A. Newton, St. missioner, wired the United States Louis, general counsel for the assoDaily at Washington yesterday that ciation, previous to the convention Kentucky banking conditions were that hostilities between railroads and sound, and said the situation in river enthusiasts were dying away Louisville was greatly improved. "There is plenty of precedent for Closing the Bank of Fern Creek yesterday brought to seventeen the number of Kentucky banks that suspended operations since last Monday. One of these, the Security Bank, reopened. State banking officials yesterday began examination of the affairs of the Hopkins County Bank, which suspended Friday. It was said it would be several days before a statement of its ocndition could be available. Says At Hopkinsville officials of the First City Bank and Trust Company announced that stock of the institution owned by Nashville interests will be delivered to Hopkinsville investors so that complete control of the bank would rest with ("Bob" Davis) people living in the community which it serves.

14. November 25, 1930 Chattanooga Daily Times Chattanooga, TN
Article from Chattanooga Daily Times, November 25, 1930

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DEPOSIT FIRST AS BANK OPENS LOUISVILLE, Ky., Nov. 24 With today of the Security bank, Louisville first step its work of rehabilitating its which closing banks here and total of seventeen in the state. The first two deposits the Security today for The the Louisville the second by the Liberty Trust company. They made confidence the institution. The Liberty Bank Trust company has with the Security bank, acquired Saturday by Percy Johnston. president Chemical Bank and Trust company, New York, his assistants Security bank closed Monday following the of Bank of and the Louisville Trust company. LOUISVILLE Ky., Nov. 24 today of Bank Fern Creek brought the total closed in Kentuck Nov. 17 seventeen.

15. November 25, 1930 The Commercial Appeal Memphis, TN
Article from The Commercial Appeal, November 25, 1930

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REOPEN LOUISVILLE BANK Deposits Are Heavy As Institution Resumes Business The Security Bank, one of the first to close last week. was reopened to. day. It is now affiliated with the Chemical Bank & Trust Company of New York. George Gutig. president, said the amount of deposits and number of new accounts had not been tabulated tonight but that filed by the tellers windows all day Closing today of the Bank of Fern Creek with resources of $200.000, brought the total of banks closed in Kentucky since Nov. 17 to J. S. Laurent. Louisville attorlate today was receiver for the Banco Company holding corporation for the Na tional Bank of Kentucky and other financial institutions in Kentucky and The petition was filed by the ex ecutive the of directors and was consented to by the Chemical Bank Trust Company, named as co-defendant. The petitioners said the purpose of the suit was to the Laurent qualified by bond of $650,000.

16. August 23, 1931 Henderson Morning Gleaner Henderson, KY
Article from Henderson Morning Gleaner, August 23, 1931

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Under the Dome of the Capitol The banking situation in Kentucky is beginning to take on a bright as pect, in the opinion of C.S. Wilson, state banking commissioner Rural banks have been replenish ed, he said, by a bumper lamb crop which brought in much needed cash. There were fewer sheep on Kentucky farms this year but the number of lambs raised per 100 ewes was greater than last year. The crop was of excellent quality. "What's needed now," remarked Commissioner Wilson, "is a good price for the tobacco erop." Reopening in Louisville tomorrow of the re-organized Louisville Trust company will be the ninth state bank that has re-opened out of the group that closed their doors to conserve assets in the wake of crash in Louisville last November 17. Another one, the Guaranty Bank and Trust company of Lex ington, has been taken over by the Citizens Bank and Trust company under the presidency of W A Dicken, former state banking com missioner Thirty banks and trust companies, under the supervision of the state banking department. have been suspended since January 1. 1929. The gross deposit liabilities of these institutions totaled $29, 087,437 Of the banks re-opened or liabilities assumed, the gross deposit liabilities totaled $6,410,677 The re-opening of the re-organized Louisville Trust company is pected to release gross deposit lia bilities of $13,869,914. This would make a total of gross deposit liabilIties released of $20,270,591 The state banking department estimates that amount of gross deposit liabilities of state banks in spspension from the period beginning January 1, 1929. will be $8,816,486 after the re-opening of the Louisville Trust All but nine of these state bank suspensions date after the closing of the Louisville Trust company and the National Bank of Kentucky in Louisville last November Lia bilities of the National Bank of Kentucky are not included in the state banking department's statis ties as it was under the supervision of the federal banking department. The National Bank of Kentucky has already paid a 67 per cent dividend Banks that closed prior to No vember have been or are being liquidated. These banks with the date of their closing and their gross deposit liabilities are listed here: Hickman Bank and Trust company 862: Hargis Bank and Trust company, Jackson, February 5. 1930. $554,368: Grayson County Bank Leitchfield. March 10. 1930. $357, 254: the Peoples bank. Mt. Vernon, April 22. 1930. $260,855: LaGrange Bank and Trust company. La Grange, May 26. 1930. $352,232: Bank of Russellville, Russellville, June 12, 1930. $183,660; Hazel Green bank. Hazel Green, June 30. 1930. $184,054; Elsmere Savings bank, Erlanger, July 3. 1930. $192. 870: Vine Grove State bank, Vine Grove, $91,464 The banks that have re-opened since November of last year in clude the Security bank, Louisville, with approximate gross deposit lia bilities of $1,996,001 It was able to open for business a few days after November 17. Other banks, with their gross deposit liabilities, that have reopened are: McElwainMcGuire Bank and Trust company, Franklin, $373,509; Bank of St. Helens, Shivley, $412,834: Peoples bank, Sulphur, $132,950; Bank of Crestwood State bank, Crestwood, $139,297 Fern Creek bank, Bue ton. $292,638: Bank of Sturgis, Sturgis, $256,463 Two negro banks, the First Standard bank and the American Mutual Savings bank, which closed in Louisville November 17. were later consolidated into the Mutual Standard bank. The bank result ing from the merger closed May 7 of this year and is being liquidated. Liquidating agents have been appointed for the following banks closed since November: Owsley County bang, Beoneville, $100,329: Union Central bank, Louisville, $503,578: Bankers Trust company, Louisville, $553,279. Hopkins County bank, Madisonville, $717,587: Woodbury Deposit bank, Woodbury, $37,693; Citizens Bank and Trust company, Middlesboro, $495,977: Webster County bank, Clay, $164, 676; Bank of Ludlow, Ludlow, $636,359; Bank of Hardinsburg and Trust company, Hardinsburg. $523.381. Liquidating agents have not been appointed for five state banks which have closed since the first of July. These banks are: Citizens

17. August 23, 1931 The Paducah Sun Paducah, KY
Article from The Paducah Sun, August 23, 1931

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Under the Dome of The State Capitol By DWIGHT L. PITKIN Associated Press Staff Writer FRANKFORT, KY., Aug. 22 (AP) -The banking situation in Kentucky is beginning to take on a brighter aspect, in the opinion of C. S. Wilson, state banking commissioner. Rural banks have been replenished, he said, by a bumper lamb crop which brought in much needed cash. There were fewer sheep on Kentucky farms this year but the number of lambs raised per 100 ewes was greater than last year. The crop was of excellent quality. "What's needed now." remarked Commissioner Wilson, "is a good price for the tobacco crop." Reopening in Louisville Monday of the re-organized Louisville Trust company will be the ninth state bank that has re-opened out of the group that closed their doors to conserve assets in the wake of crash in Louisville last Nov. 7. Another one, the Guaranty Bank & Trust company of Lexington, has been taken over by the Citizens Bank and Trust under the presidency of W. A. Dicken, former state banking commissioner. Thirty-seven banks and trust companies, under the supervision of the state banking department, have been suspended since Jan 1, 1929. The gross deposit liabilities of these institutions totaled $29,087,437. Of the banks re-opened or liabilities assumed, the gross deposit liabilities totaled $6,410,677. The re-opening of the reorganized Louisville Trust company is expected to release gross deposit liabilities of $13,859,914. This would make a total of gross deposit liabilities released of $20,270,591. The state banking department estimates that amount of gross deposit liabilities of state banks in suspension from the period beginning Jan. 1, 1929 will be $8,816,846 after the re-opening of the Louisville Trust company. All but nine of these state bank suspensions date after the closing of the Louisville Trust company and the National Bank of Kentucky in Louisville last November. Liabilities of the National Bank of Kentucky are not included in the state banking department's statistics as was under the supervision of the federal banking department. The National Bank of Kentucky has already paid a 67 per cent dividend. Liquidate Closed Banks. Banks that closed prior to November have been or are being liquidated. These banks with the date of their closing and their gross deposit liabilities are listed here: Hickman Bank & Trust Company, Hickman, Dec. 30, 1929, Hargis Bank & Trust company, $59,826; Hargis Bank & Trust company, Jackson, Feb. 5, 1930, $554,368; Grayson County bank, Leitchfield, March 10, 1930, $357,254; the Peoples Bank, Mt. Vernon, April 22, 1930, $260,855; LaGrange Bank and Trust company, LaGrange, May 25, 1930, $352,232; Bank of Russellville, Russellville, June 12, 1930, $183,660; Hazel Green bank, Hazel Green, June 30, 1930, $184,054; Elsmere Savings bank, Vine Grove, $91,464. The banks that have re-opened since November of last year include the Security Bank, Louisville with approximate gross deposit liabilities of $1,996,001. It was able to open for business a few days after Nov. 17. Other banks with their gross deposits liabilities, that have reopened are: McElwain-McGuiar Bank & Trust Co., Franklin, $373,509; Bank of St. Helens, Shively, $412,824; Peoples bank, Sulphur, $132,950; Bank of Caneyville, Caneyville, $318,216; Crestwood State bank, Crestwood, $139,297; Fern Creek bank, Buechel, $151,279; Farmers Bank, Fulton, $292,638; Bank of Sturgis, Sturgis, $256,463. Two Negro banks, the First Standard bank and the American Mutual Savings bank, which closed

18. August 23, 1931 The Lexington Herald Lexington, KY
Article from The Lexington Herald, August 23, 1931

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Capitol Sidelights Ky., Aug. banking situation in Kentucky beginning take brighter aspect, in the of banking Rural banks have been replenished, said, by bumper lamb brought much needed cash. were fewer sheep Kentucky farms this year, but the number lambs raised per 100 greater than last year. crop excellent quality. remarked Commissioner Wilson, good price for the tobacco Reopening Louisville Monday the Louisville Trust Company will be the ninth state bank that has reopened out of the group that their doors assets wake the Louisville November Another one, the Guaranty Bank and Trust Company of Lexington, been taken by the Citizens Trust Company under presidency of Dicken, state banks and trust under the supervision the banking department, have been suspended since The gross deposit liabilities these totaled $29,Of the banks reopened liabilities the gross liabilities $6,410,677 The reopening the reorganized Louisville Trust Company pected to release gross deposit liabilities $13,859,914. This would make total gross deposit lia. bilities $20,270,591. The state banking estimates that amount of gross deposit liabilities of state banks suspension from the period beginning January 1929 will be $8,816,846 after the reopening of the Louisville Trust Company. All but nine of these state bank date after the closing the Louisville Trust Company and the National Bank of Kentucky last Liabilities of the Bank of Kentucky are not included the state statisthe supervision the federal department. Bank Kentucky ready has paid per cent dividend. Banks that closed prior to Novembeing liquidated. These banks with date of their closing and their gross posit liabilities listed here: Bank and Trust Company, Hickman, December 30, 1929, 862; Hargis Bank and Trust Company, Jackson, February 1830, Grayson County Bank, Leitchfield, March 10, 1930, the Peoples Bank, Vernon, April 1930, $260,855; LaGrange Bank Trust Company, LaGrange, May 26, $352,232; Bank of Russellville, June 12, 1930, Hazel Green Bank, Hazel Green, June 1930, Savings Bank, Erlanger, July 1930, $192,870; Vine Grove State Bank, Vine Grove, $91,464. The banks that have reopened November year include the Security Bank, Louisville, with approximate deposit liabilities $1,996,001. able open for business days after November Other banks, with their gross deposit liabilities, that have reopened Bank and Trust Company, Franklin, Bank of Helens, ShivePeoples Bank, Sulphur, $132,950; Bank Caneyville, Caney$318,216 Crestwood State Bank, Crestwood, $139,297; Fern Creek Bank, Buechel, Farmers Bank, Fulton, and Bank Sturgis, Sturgis, negro banks, the First StandBank the American Savings Bank, which closed in Louisville November later consolidated into the Mutual Standbank. The bank resulting from the closed May this merger year being Liquiagents been appointed for the closed since November: Owsley County Bank, Booneville, Union Central Bank, Louisville, $503,578: Bankers Trust Company, Louisville, $553,279: Hopkins Bank, Madiposite Bank, Woodbury, $37,693; Citizens Bank and Trust County Bank, Clay, $164,676; Bank Ludlow, Ludlow, Bank Hardinsburg and Trust Company, Hardinsburg, $523,381 not been appointed five banks which have the first July. These Citizens Bank, Drakesboro, Bank Barlow, Barlow, Butler Deposit Bank, Butler, Bank Wayland, Valley State Bank, Veaksbury, $113,269. McNeal served plate lunch. The first prizes the two days Mrs. Edith Bigstaff and Charles and the consolation prizes drawn Winchester, and Mrs. Gates, of IndianapMrs. McNeal's parties bered tables each day and the out-of-town guests were: Mrs. Hampton Bush, Mrs. Birkhead, Mrs. Steve Davis, Mrs. Floyd Clay. Mrs. Riffe Hodgkin, Mrs. Jack Hutsell, all of Winchester, Gates, of Indianapolis. James McNeal will leave Frinight Sulphur Springs attend convention of and officials. Miss Helen Triplett in Winchester visit her grandmother, Mrs. Mattie Baird, and her aunt, Mrs. Charles Lee Bush.

19. August 24, 1931 The Daily Independent Maysville, KY
Article from The Daily Independent, August 24, 1931

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of the re-organized Louisville Trust company is expected to release gross deposit liabilities of $13,859,914. This would make a total of gross deposit liabilities released of $20,270,591. The state banking department estimates that amount of gross deposit liabilities of state banks in suspension from the period beginning January 1, 1929, will be $8,816,846 after the re-opening of the Louisville Trust company, All but nine of these state bank suspensions date after the closing of the Louisville Trust company and the National Bank of Kentucky in Louisville last November. Liabilities of the National Bank of Kentucky are not included in the state banking department's statistics as it was under the supervision of the federal banking department. The National Bank of Kentucky has already paid a 67 per cent dividend Banks that closed prior to Novem- other one. the Guaranty Bank ber have been or are being liquidated. These banks with the date of Trust Company of Lexington, has been taken over by the Citizens their closing and their gross deposit Bank and Trust company under the liabilities are listed here: Hickman presidency of W. A. Dicken, former Bank & Trust Company, Hickman, state banking commissioner. Decemberf 30, 1929, $595,862: Hargis Thirty-seven banks and trust com- Bank & Trust Company, Jackson, panies, under the supervision of the February 5, 1930, $554,368; Grayson state banking department, have been County Bank, Leitchfield, March 10, suspended since January 1, 1929 1930, $357,254; the Peoples Bank, The gross deposit liabilities of these Mt. Vernon, April 22, 1930, $260,institutions totaled $29,087,437. Of 855; La Grange Bank and Trust the banks re-opened or liabilities Company, LaGrange, May 26, 1930. assumed, the gross deposit liabilities $352,232; Bank of Russellville, Rustotaled $6,410,677. The re-opening sellville, June 12. 1930. $183,660; Hazel Green Bank, Hazel Green, June 30. 1930, $184,054: Elsmere Savings Bank, Erlanger, July 3, 1930. $192,870: Vine Grove State Bank, Vine Grove, $91,464. The banks that have re-opened since November of last year include the Security Bank. Louisville with approximate gross deposit liabilities of $1,996,001. It was able to open for business a few days after November 17. Other banks, with their gross deposit liabilities, that have reopened are: McElwain-McGuiar Bank & Trust Co., Franklin. $373,509: Bank of St. Helens, Shively, $412,824: Peoples Bank, Sulphur, $132,950; Bank of Caneyville, Caneyville, $318,216; Crestwood State Bank. Crestwood, $139,297: Fern Creek Bank, Buechel, $151,279; Farmers Bank, Fulton, $292,638; Bank of Sturgis, Sturgis, $256,463. Two Negro banks, the First Standard Bank and the American Mu- tual Savings Bank. which closed in Louisville November 17. were later consolidated into the Mutual Standard Bank. The bank resulting from the merger closed May 7 of this year and is being liquidated. Liquidating agents have been appointed for the following banks closed since November: Owsley County bank, Boonevill, $100,329; Union Central Bank, Louisville, $503,578; Bankers Trust Company, Louisville, $553,279; Hopkins County Bank, Madisonville, $717,587; Woodbury Deposit Bank, Woodbury, $37,693; Citizens Bank & Trust Co., Middlesboro, $495,977; Webster County bank, Clay, $164,676: Bank of Ludlow, Ludlow, $363,359: Bank of Hardinsburg & Trust Co., Hardinsburg, $523,381 Liquidating agents hav not been appointed for five state banks which have closed since the first of July. These banks are: Citizens Bank, Drakesboro, $81,755; Bank of Barlow, $91,910: Butler Deposit Bank. Butler, $614,388; Bank of Wayland, Wayland, $145,348; Beaver Valley State Bank. Weaksbury, $113,269. Kentucky's Tourist Trade Geoffrey Morgan, acting executive secretary of the Kentucky Progress commission, attributes the increase in gasoline consumption in Kentucky this year to the Progress commission's efforts in advertising the state's tourist attractions. The first six months of this year showed an increase in gasoline taxes of $180,178.03 over the same period last year. "It certainly pays to advertise," said Mr. Morgan, citing these statistics. "Take the figures for Janusry. The tax commission showed gasoline taxes collected in January of this year totaled $620,885.50 as compared with $503,046.73 for January of 1930. That is an enormous difference. The reason for it is this. We had an open winter the first of this year. So the tourists in Florida began flocking home. We had been advertising Kentucky among the tourists and the result was many of these tourists returned northward by way of Kentucky."

20. August 26, 1931 Messenger-Inquirer Owensboro, KY
Article from Messenger-Inquirer, August 26, 1931

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A Scolding By LARS MORRIS Don't One Across When a Friend Has Six Across ACROSS 1-Scold 6-Fits of temperament 11-Trembling 12-Aims of perfection 14-Sun god 15-Book of psalms 17-Pronoun 18-Salutation 20-Russian rulers 21-American humor- 22-Female horse 24-Before 25-Hint 26-Gazed fixedly 28-Pressure 30-Self (Scot.) 31-Attention 32-Courageous 38-Male deer 39-Greek "E" 41-She (Fr.) 42-Rage 43-Lures 45-That there 46-Public notice 17-Zeppelin SATURDAY'S ANSWER 49-Paid (ab.) 50-Pert. to fasting season 52-Escapes 54-Active ones 55-Repetitions DOWN 2-That man 3-Mischievous child 4-Does (poet.) 5-Removed 6-Ecclesiastical head-dresses 7-Short poems 8-Above (poet.) 9-Daddy 10-Slips 11-Trolley cars 13-Boiled meats 16-Household god 19-Deletion 21-Actively 23-Standing 25-Large container 27-Large deer 29-Golf mound 32-Small bottle 33-Greased 34-Longs for 35-Parent 36-Runs away 37-Tears 40-It is 43-Funeral carriage 44-Grain storehous 47-Took dinner 48-Place 51-Negative 53-Prefix: not Bank of Russellville, Russellville, June 12, 1930 $183,660: Hazel Green bank, Hazel Green, June 30. 1930, $184,054; Elsmere Savings bank, Erlanger, July 3, 1930, $192870; Vine Grove State bank, Vine Grove, $91,464. The banks that have reopened since November of last year include the Security bank Louisville with approximate gross deposit liabilities of $1,996,001. It was able to open for business few days after November 17. Other banks, with their gross deposit liabilities, that have reopened are: McElwain-McGular Bank & Trust Co., Franklin. $373,509; Bank of St. Helens, Shively, $412,824; Peoples bank, Sulphur, $132,950; Bank of Caneyville Caneyville, $318,216; Crestwood State bank, Crestwood, $139,297 Fern Creek bank, Buechel, $151.279; Farmers bank Fulton, $292,638; Bank of Sturgis, Sturgis Two negro banks, the First Standard bank and the American Mutual Savings bank, which closed In Louisville November 17. were later consolidated into the Mutual Standard bank. The bank resulting from the merger closed May 04 this year and is being liquidated Liquidating agents have been appointed for the following banks closed since November: Owsley County bank. Booneville, $100,329: Union Central bank, Louisville, $503,578; Bankers Trust company Louisville $553,279: Hopkins County bank, Madisonville, $717,587 Woodbury Deposit bank, Woodbury $37,693; Citizens Bank & Trust Co., Middlesboro. $495,977; Webster County bank, Clay, $164,676; Bank of Ludlow, Ludlow $636,359; Bank of Hardinsburg & Trust Co., Hardinsburg, $253,381. Liquidating agents have not been appointed for five state banks which have closed since the first of July These banks are: Citizens bank, Drakesboro $81,755: Bank of Barlow, Barlow. $91,910: Butler Deposit bank, Butler, $164,388; Bank of Wayland, Wayland $145,348; Beaver Valley State bank, Weaksbury, $113,269. GREENVILLE NEWS Greenville, Ky., Aug. 26.-M. L. Wickliffe was in Paducah several days last week. Dr. B. W. Smock, Mrs. Smock and daughter, of Louisville, are guests of Mrs. Smock's parents, Mr. and Mrs. C. W. Taylor. Miss Christine Kelley, of Madisonville, was week end guest of Mr. and Mrs. R. D. Brooks. Mrs. Ed Yonts and son, Edward, went to Louisville Monday to be a guest of relatives. Mrs. Town Martin and Miss Dixie Dexter were in Louisville last week. Mrs. Mabel Bruner, Mr. and Mrs. C. H. Chatham were in Louisville last week. Mr. and Mrs. Harry Denny, of Detroit, are guests of Mr. and Mrs. E. A. Denny. Mr. and Mrs. H. Shaver and family, of Bremen, were guests Sunday of Mr. and Mrs. Andrew Wilkins. Mr. and Mrs. R. H. Whitmer, of South Carrollton, were guests of Mr. and Mrs. I. P. Summer Sunday. Mr. and Mrs. F. M. Puryear were hcsts to family dinner Sunday Mr. and Mrs. H. J. Boradile will leave this week for Lake Erie to spend their vacation. Mrs. Bettle Newman, who has been visiting at Graham, returned home the last of the week. Miss Helen Vincent had one of her eyes removed Sunday. She is doing nicely. Mr. and Mrs. W. A. Har erveder and daughter will move to Central City this week. John Jeffries is improving, having been confined to his room two weeks by cut foot. James Brooks, who is attending business college in Bowling Green, was home for the week end. Edward L. Oates has gone to Beaufort, S. C., for two weeks visit to Mr. Hamner McCracken. Mrs. Leona Bailey, of Pueblo, Col., has been a guest of her brother, Mr. A. Y. Craig, and Mrs. Craig. Mr. and Mrs. Bradford Noffsinger, of Graham, was guest Sunday of Mr. and Mrs Luke Wilkins, Mrs. James Nadeau and family. also Mrs. Ed Murphy, of Winedot, Mich., were guests of Mr. and Mrs. A. Yeargan last week. Mr. and Mrs. Charles Blackwell, of Jackson, Miss., are guests of relatives. Mr. and Mrs. Bob Carden, who have been inding school in Lexington, are expected home this week. CALHOUN NEWS Calhoun, Ky., Aug. 26.-Evangelist Burton L. Hoffman, of Hopkinsville, is conducting series of meetings at the Calhoun Christian church and will continue until September 3. Mr. Hoffman is forceful speaker and is delivering fine gospel sermons each evening. Elder Harvey Riggs and family, of Michigan, have returned home after brief visit to his brother, J. L Riggs, and family. Mr. and Mrs. Shelby Riggs, of Orlindo, Tenn., have returned home after spending several days with relatives here. Mrs. Clara Crow and Mise Cora Stroud left today for Lexington to attend the county clerks' convention at Lexington. Miss Laura Franklin has returned to Bowling Green after spendIng several days with her mother, Mrs. Lelia Franklin. Mrs. Louis Key Turner, of New Orleans, is a guest of her parents, Mr. and Mrs. Ed C. Bryant. Mr. and Mrs. Gip Cary and daughter, Mary Jane, and Mrs. Ruth Cary, Miss Mary Cary have returned from a motor trip to historical points in Kentucky. Mr. and Mrs. Forest Leachman, Mr. and Mrs. Homer Puyear and daughter, Mary Elizabeth. left today on motor trip to Florida. They will be guests of relatives at Palmetto and Bradentown. Dr. J. W. Scudder and Mrs. Scudder have returned from Reelfoot lake, where they attended a session of public health workers from Kentucky, Tennessee and Missouri. Misses Katie and Maggie Swint. who have been guests of friends here, have returned to their home in Evansville. Dr. P. D. Moore and Mrs. Moore, of Seattle, Wash., who have been guests of Mr. and Mrs. J. L. Moore and other relatives, have returned to their home. Charles Reid Greenup has gone to Evansville.