Prince Georges Bank & Trust Company (Hyattsville, MD)

Episode Information

Episode UID
65023471599
Episode Type
Suspension โ†’ Reopening
Bank Type
state
Bank ID
6502347 routing
Routing Number
65-0234
Start Date
March 15, 1933
Location
Hyattsville, Maryland (38.956, -76.946)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
11d2980981d4560b

Response Measures

None

Description

Obvious OCR variants corrected for bank name; reopening under limited withdrawals pending reorganization.

Events (1)

1. March 15, 1933 Suspension
Cause
Government Action
Cause Details
Reopened after the March 1933 banking holiday under a restriction of 2% withdrawals while reorganizing to enter the Federal Reserve system
Newspaper Excerpt
At the Prince Georges Bank & Trust Co., Hyattsville, J. Enos Ray, president, announced a very successful day, with normal withdrawals ... Although the institution is restricted to 2 per cent withdrawals, pending reorganization in order that they might get into the Federal Reserve system
Source
newspapers

Newspaper Articles (2)

Article from Evening Star, March 15, 1933

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Article Text

BANKS IN NEARBY COUNTIES REOPEN Most Neighboring Virginia and Maryland Institutions on Normal Basis. (Continued From First Page.) have no limitations except that we are keeping a watch for hoarding. Deposits been coming in in larger amounts have we anticipated. Withdrawals have than been very small, just merely the enough to meet living expenses, and copeople of the community have been operating with us 100 per cent." Seven in Prince Georges. Seven of the ten banks in Prince Georges County are operating on Prince a 100 cent basis. They are the Georges per Bank & Trust Co., of Hyatts- Naville and Mount Rainier; the First tional Bank of Southern Maryland, Bank Marlboro; the Clinton Bank, the Bank Brandywine and the Citizens of Riverdale, the Farmers & Merchants Citizens of Bank of Marlboro, and the Bank of Marlboro Laurel. Branch of the Eastern Bowie Shore The Trust Co. and the cent Bank a of month were permitting It 2 was per announced the by withdrawals. S. Miles, president, that bankHoward Shore Trust Co., largest outside of Eastern organization in the State Aping would be reorganized. the FedBaltimore, for membership in made by plication System has been eral which has the and 21 branches in Southern Maryland bank ties. Salisbury The bank, Reserve headquarters Trust 10 coun- Co., in in Pleasant, was the only was not Seat Georges County which withdrawals Prince a license to permit institution, given Norton, cashier of the announceLeo J. the bank would have an ment said to make within a few days. Others to Open. Banks in other nearby counties basis licensed to open on a 100 per cent included: Commercial Bank of Maryland, Institu- Frederick; tion, Frederick Fredericktown Savings Germantown Savings Bank, Clarksville: Central Bank, of Howard County, Liberty Savings Bank Cumberland Bank Hughesville Citizens and Na- and Co., Cumberland; Farmers National Union Trust Mechanics' tional Bank, Frederick of Westminster. Bank. Frederick: Bank First NaNational Westminster NaNational Bank, Bank. Cumberland: Second and Nicotional Bank, Cumberland, tional National Bank, Hagerstown. Bank and demus Westminster Savings Trust Co. The Deposit & cent the on a 10 per were while the Westminster operating basis, Boonsboro withdrawals. with- Bank drawal 5 per cent were perwas permitting withdrawals ComTwo per cent Bank of Brunswick, mitted by the Bank. Cumberland Farmers mercial People's Savings Bank. Cumberland Bank, Hagerstown InTrust Co. and sttitution Thurmont Merchants' and Bank. the Annapolis Annapolis Savings Bank & Ne by Virginia Banks of the seven banks were in Arlington reopened Six Fairfax Counties regular business and on the People's State this morning The seventh, the was reopened, a with basis. Bank of Cherrydale. restriction also limiting withdrawals but to 5 per permitting cent. the the reopening Herndon Telegrams the two national National banks. of Fairfax, National received the were for Rosslyn, of Authorization and the yesterday reopening of afternoon Ar- the Trust Co. Clarendon, Trust Co. of Vienna and Vienna Trust Co. State Clarendon lington of institutions, the the Falls received Church Bank, last night. were reopened were national Federal banks Reserve Bank on The Richmond order of the and the order trust of companies the State Corporation withdrawal of and State banks cent Commission on of State clause Virginia. Bank imThe 5 per the People's directors posed upon invoked by before the had been shortly the Gov. de- in- of that institution bank holiday for by an period claring Pollard of and the was upon continued order of the State the First definite Commission. banks, Corporation Alexandria's four National Alexandria all Citizens & Herbert. mal restrictions. National National, reopened this and morning Burk without abnor-


Article from Evening Star, March 16, 1933

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Article Text

limited to 2 per cent withdrawals, number of new depositors appeared. At the Prince Georges Bank & Trust Co., Hyattsville, J. Enos Ray, president, announced a "very successful day, with normal withdrawals" and approximately $200,000 taken in deposits. He stated also that hoarders and other gold holders have brought in $30,000 worth of the yellow metal since it was made "hot" by the President last week. Deposits Rolling In. Although the institution is restricted to 2 per cent withdrawals, pending reorganization in order that they might get into the Federal Reserve system, the Eastern Shore Trust Co., Upper Marlboro, took in $2,458 from depositors, compared with withdrawals of $167. William E. Sipe, cashier. said officials and employes are working on the re-organization, and it has not been determined definitely what day the changes will go into effect. He said: "Deposits are rolling in this morning." William S. Hill. cashier of the First National Bank of Southern Maryland, also in Upper Marlboro, said: "Business is fine. we received $26,000 in deposits yesterday, with withdrawals about normal." The Citizens' National Bank of Laurel reported $44,000 in deposits yesterday, approximately $31,000 more than withdrawals. The Brandywine Bank, which was also opened 100 per cent. had many more deposits than withdrawais. Almost all of the money brought into the banks yesterday, bankers said. was either "new" money. accumulated since the closing. or cash withdrawn some time ago, as there were no heavy withdrawals in the county just prior to the holiday. Withdrawals Small. The seven banks in Arlington and Fairfax Counties reported total deposits yesterday of more than $270,000. with withdrawals far under the average for a day's business. One bank. the Arlington Trust Co., announced total deposits of more than $100,000 and not a single withdrawal check of more than $25. As was the case in all of the other banks, there were many new accounts opened. The Clarendon Trust Co. also had deposits of more than $100,000, with practically no withdrawals. It was the largest day's business in the history of the institution. Deposits in the Herndon National Bank totaled more than $20.000. There were a number of new accounts which, coupled with old accounts. made one of the largest days for this bank also. The Falls Church Bank took in approximately $20,000. including several new accounts and the retention of all existing accounts. Total deposits of approximately $16,000 were made in the National Bank of Fairfax, with withdrawals light. The Vienna Trust Co. took in $6,291. which is about twice the usual day's business for that institution. Despite the fact that it is operating upon a maximum 5 per cent withdrawal basis, the People's State Bank of Cherrydale reported deposits above the average and several new accounts. Officials refused, however, to give any figures, claiming that they would not be a fair indication of what could have been expected if the transactions of the institution had been unlimited.