gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a35405991e2776ed
Response Measures
None
Description
Receivership and liquidation proceeded; reorganization plans fell through.
Events (9)
1.January 1, 1932*Suspension
Cause Details
Bank had closed earlier and entered receivership; articles do not state a specific trigger for suspension.
Newspaper Excerpt
the Commercial Bank & Trust Co. ... which closed some time ago
Source
newspapers
2.January 30, 1932Receivership
Newspaper Excerpt
The eighth report Crider receiver for Commercial Bank and Trust Company, was filed ... receiver now preparing enforce the collection notes ... authority to sell on notes and real estate was granted by the court
Source
newspapers
3.February 25, 1932Other
Newspaper Excerpt
REOPENING OF DANVILLE BANK TO BE DISCUSSED ... plan to re-open the institution, which closed some time ago, will be discussed
Source
newspapers
4.June 9, 1932Other
Newspaper Excerpt
A total of $119,500 is to be distributed among depositors of the defunct Commercial Bank & Trust Co. ... doing away with the plan for reorganization of the institution
Source
newspapers
5.July 8, 1932Other
Newspaper Excerpt
The Commercial Bank & Trust Co.'s building ... has been purchased by the American National Bank & Trust Co. for $31,100
Source
newspapers
6.September 9, 1932Other
Newspaper Excerpt
receivers ... liquidating the affairs ... distribution among depositors ... checks not yet called for
Source
newspapers
7.April 13, 1933Other
Newspaper Excerpt
Commercial Bank Receivers Make Monthly Report ... cash balance, collections and realizations reported
Source
newspapers
8.November 18, 1933Other
Newspaper Excerpt
Bank Receivers Enter Suit for $19,000 Judgment ... receivers filed notice of motion for judgment
Source
newspapers
9.June 9, 1934Other
Newspaper Excerpt
Commercial Dividend To Gladden Vacationists; 10 Per Cent To Be Paid ... receivers asked another 10 per cent dividend for depositors
Source
newspapers
Newspaper Articles (12)
1.January 30, 1932The BeeDanville, VA
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Article Text
Crider Push Bank's Collections
Receiver Is Given Authority to Sell on Notes
The eighth report Crider receiver for Commercial Bank and Trust Company, was filed poration accounting court yesterday. making the corfor activities during the thirty receiver now preparing enforce the collection notes real estate his report receiver that force collection the motes his requiring the real points that may be necessary the bank some of the property put up auction and ask authority the court bid property the name the bank authority has been granted. court cognizance the Commercial Bank yie.ding the functions trust department and several changes made. has been named execuestate Thomas bond of $2,000. The First
2.February 25, 1932Evening StarWashington, DC
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Article Text
REOPENING'OF DANVILLE BANK TO BE DISCUSSED Special Dispatch to The Star. DANVILLE, Va., February 25.-Depositors of the Commercial Bank & Trust Co. will hold a meeting here Monday when a plan to re-open the institution, which closed some time ago, will be discussed. A tentative plan has already been drawn up by some of the depositors and stockholders. E. P. Crider, former cashier and receiver, reports that he has paid off all outstanding indebtedness and that collection of outstanding paper has produced a fund of $40,000, the nucleus from which the distributions will be made if the bank is to be liquidated.
3.June 9, 1932Evening StarWashington, DC
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Article Text
Depositors to Get $119,500. DANVILLE, Va., June 9.-A total of $119,500 is to be distributed among depositors of the defunct Commercial Bank & Trust Co., under a decree issued by Judge Henry Leigh and entered in the Corporation Court. The document calls on Edwin Meade, receiver for the institution, to distribute the amount on hand, this being the above amount. The order is generally viewed as doing away with the plan for reorganization of the institution.
4.June 24, 1932Evening StarWashington, DC
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Article Text
DANVILLE BANK DIVIDENDS. DANVILLE. Va., June 24 (Special).Nearly $175,000 is being put into circulation in Danville by bank dividends of one kind or another. Close on the heels of the distribution of $120,000 by receivers of the Commercial Bank & Trust Co. to depositors came the action of directors of the First National Bank in declaring its regular 12 per cent semiannual dividend, amounting to $36,000, to be distributed July 1. The directors were encouraged by reports of bank officials showing a definite improvement during the past six months over the same period last year. The directors of the American National Bank this week also voted' a 2 per cent dividend after hearing satisfactory earning reports. The amount to be distributed will be about $10,000.
5.July 8, 1932Evening StarWashington, DC
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Article Text
Bank Assets Sold. DANVILLE, Va., July 8 (Special) The Commercial Bank & Trust Co.'s building, together with the vault and other banking equipment, has been purchased by the American National Bank & Trust Co. for $31,100. The only other bid received was that of the Danville Loan & Savings Bank, which offered $30,000. The proceeds from the sale of the bank will be placed in the general fund into which is going all sums realized by the receivers in liquidation of the assets of the Commercial Bank, which closed some months ago. Recent reorganization plans fell through. The American National Bank plans to move from its present location a block away into the new quarters if the sale is ratified by the judge of the Corporation Court.
6.September 9, 1932The BeeDanville, VA
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Article Text
Commercial Bank Receivers Report Shows Gains By Mill Stock
Receivers for the Commercial Bank are still engaged in liquidating the report filed with affairs and Judge Henry Leigh of the tion shows that there $60,000 hand for distribuother the depositors One tion among already paid this condend has stituting fifteen per Notwithstanding the publicity to this dividend about 800 checks not been called for these representing and every effort being made locate the persons to whom the checks made out The last report, which is requisite under the Virginia receivership shows that the bid made Dibrell the Rosenstock home Main street has been accepted. Mr. Dibrell secures the property for 900 The purchase the Hunter property Gray ertson for also has been confirmed. Fred Leggett has purchased the signboards maintained by the bank while operating for $135 The report shows once the increasing value of Rivermore side and Dan River stock. On report five August shares of preferred stock were sold to the Corporaper share and tember 3rd shares of preferred were sold to the corporation at per Both of these sales have been confirmed the court. known when another distribution be made.
7.November 30, 1932Danville Register and BeeDanville, VA
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Article Text
Bank Receivers File 24th Report
Another report has been filed by the receivers of the Commercial bank, and has been approved Judge Henry Leigh, the corporation court. The report indicated progress in winding up the bank's affairs. The local firm of Ramey and Ashworth will turn over the ceivers of about 13 improved unimproved lots in Virginia and North Carolina to satisfy claims of the bank receivers. The value of the lots given The report deals in detail with the situation showin gthat the firm is indebted to the bank to the extent of with interest and that three members of the firm have notes in bank, these aggregating nearly Notes to the amount of $6,184.96 are represented by the receivers to without and without collateral while others are covered by second mortgage notes of doubtful value." The indicate that settlement of the obligations will be possible by the suggested means of treatment.
8.April 13, 1933The BeeDanville, VA
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Article Text
Commercial Bank Receivers Make Monthly Report
The receivers Bank and Trust Company their Judge Henry corporation court, this showing that Messrs Meade Talbott up affairs the bank have cash balance total collections negotiable paper during the month of March amounted added to the isting assets on hand made total The during the month The realization paper slower than but the have been collected for The latter are represented by mortgages be pressed too quickly the value of realty
9.April 14, 1933Danville Register and BeeDanville, VA
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Article Text
Bank Receivers File 31st Report
Edwin Meade and Frank Talbott, receivers for the Commercial Bank have just completed their thirtyfirst report to the corporation court of Danville, and the report has been filed with Judge Henry G. Leigh. The receivers have & balance on hand of $9,451.50, from which payment to depositors probably will be made at & later date. The repoit showed total collections on loans held by the bank to be $12,463.98 with disbursement of $12,128.15. The balance on hand at the beginning of March was $9,205.61.
10.November 18, 1933Danville Register and BeeDanville, VA
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Article Text
Bank Receivers Enter Suit for $19,000 Judgment
Edwin Meade and Frank Talbott, receivers for the Commercial yesterday filed notice of motion judgment for $19,646.33 against J. Eliza H. Jack L. Neal and Lee Price Neal, in Corporation In the suit the receivers of bank will ask for interest on the amount sued for from October the indebtedness of the defendants being represented by three negotiable notes.
11.January 16, 1934Danville Register and BeeDanville, VA
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Article Text
Myers Sued by Bank Receivers
Sult for was entered in the Corporation Court yesterday against Myers by Edwin Meade and Frank Talbott, receivers for the Commercial bank. In the notice of motion the receivers declared that was sought for indebtedness secured by notes of the defendant. The amount sued for claimed to represent principal and interest.
12.June 9, 1934Danville Register and BeeDanville, VA
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Article Text
Commercial Dividend To Gladden Vacationists; 10 Per Cent To Be Paid
Receivers of Commercial Have Set Record for State; $7,000 Still To The Credit of Sleeping Depositors.
Edwin Meade and Frank Talbott, receivers Commercial monthly report to Judge Henry Leigh yesterday and asked another 10 per dividend depositors the bank. Judge Leigh approved the and grantdeclare dividend which will to and which be distributed in about two weeks. The receivers demonstrated feeling for appropriate moment making their payments. They depositors the bank sizeable Christmas present their present dividend nicely timed with the vacation
Per Cent Paid The dividend bring the paid depositors the bank per cent of their deposits and Mr. Meade yesterday that receivers hope squeeze another 10 per cent dividend payment of the the bank its accounts are closed. With the payment of the cent dividend about June receivers of the established what believed record for bank in Virginia. Three cent and per cent diviper dends representing payment depositors Sleeping Depositors The sum on deposit with the receivers has shrunk to about Mr. Meade said. part sum deposit from the old Patton bank which about 1905 for which have never any This placed the custody the court after the depositors the old private bank had been subsequently in the Commercial bank. The posited receivers of the Commercial prepared which was introduced at last session general assembly would them. tions, to place this unclaimed to the credit the live depositors the bank and the Mr. Meade the was duced but apparently died had joined the The bill vided that after the names of the deposttors with the their credit for period of six months, the would been permitted to their funds. 3,300 It takes good deal of time dividend after The receivers have make out, sign cut 3,300 checks the amounts have checked and before the checks are handed to the positors. The corporation court was with hearing of several small civil cases involving inconsequential amounts.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
