7321. Commercial Savings Bank (Baltimore, MD)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
February 26, 1933
Location
Baltimore, Maryland (39.290, -76.612)

Metadata

Model
gpt-5-mini
Short Digest
338ce5c01389f3fb

Response Measures

None

Description

The articles report the Commercial Savings Bank in Baltimore as closed and placed in receivership in early 1933 (receiver named John Ghingher) and still in receivership at the end of 1934 with distributions being made. There is no mention of a depositor run preceding the suspension; the bank was placed in receivership by court action, so this is classified as a suspension followed by closure/receivership. OCR errors in articles (typographical/spacing issues) were corrected when extracting names and facts.

Events (3)
1. February 26, 1933 Receivership
Newspaper Excerpt
Ghingher, newly appointed Bank Commissioner, receiver ... naming Ghingher receiver of the Commercial Savings Bank was signed Judge Arthur Stump the Circuit Court, Judge Charles Stein appointed him receiver the Park Bank.
Source
newspapers
2. February 26, 1933 Suspension
Cause
Government Action
Cause Details
Court-appointed receiver (John Ghingher) placed the bank in receivership by order of the Circuit Court; formal receivership actions in Feb 1933.
Newspaper Excerpt
naming Ghingher receiver of the Commercial Savings Bank was signed Judge Arthur Stump the Circuit Court
Source
newspapers
3. December 31, 1934 Other
Newspaper Excerpt
Seven Baltimore which remain closed, six of them in receivership ... the Commercial Savings Bank ... The COMMERCIAL first distribution of five mailed out depositors last week. No further yet been collected for distribution.
Source
newspapers

Newspaper Articles (3)
1. February 26, 1933 The Baltimore Sun Baltimore, MD
Article from The Baltimore Sun, February 26, 1933

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Article Text

DEPOSITORS INJURIES WORSE SHE THOUGHT Orders Distribution Of $400,000 From Chesapeake Assets The receiver of the Chesapeake Bank has verbally ten per cent. distribution depositors, the payment of of the funds collected under the receivership the institution, was announced terday. Formal orders authorizing the ond distribution are expected signed this week Judge Eugene Circuit Court No. after arrangements for audit by Julian Jones, court auditor, have been com- pleted. Awaits Report On Cost Judge wanted exactly what the audit cost before signing the and that he wanted the to be low Cost of the accounting has estimated $5,000. The to be made is not expected to final one, was receiver will have $100,000 remaining his hands. ultimate percentage be paid creditors has not been determined. Although slightly larger distribution would be possible at this time, explained that the ten per cent. payment would simplify and reduce the cost the distribution. Officials estimated that the preparation of checks for mailing would require sixty days. The will bring the total amount paid creditors the Chesapeake Bank, including depositto 32.5 per cent., payment 22.5 per cent. having been made December 1931. The bank closed cember Ghingher Named Receiver An Ghingher, newly appointed Bank Commissioner, receiver of Chesapeake Bank and the Title Trust place of Page, former resigned because signed yesterday by Judge naming Ghingher receiver of the Commercial Savings Bank was signed Judge Arthur Stump the Circuit Court, Judge Charles Stein appointed him ceiver the Park Bank. Gives Value Of Assets report filed last month by Herattorney for the receiver the Chesapeake Bank, was vealed still was the book value of $290,764.44. the majority of representing the $190.412.04 book value of the main building Paul street In addition, the report showed that the book value stocks and bonds held by the receiver while present market value $229,712. Elizabeth Wilson, 28, Hospital As Result Of Traffic Accident struck by taxicab and taken home apparently not badly injured, Mrs. Elizabeth Wilson, was found be in serious condition yesterday her room 3708 Chestnut avenue. She taken to the Union Memorial Hospital municipal fering from internal injuries. It was said the hospital that she probably would require blood transfusion fore the night was over. Struck On Park Avenue Mrs. the home of Mr. Cohen. about Mrs. Cohen found Mrs Wilson suffering intense pain. According to Capt. Frank Gatch, the Northern district he and the Cohens were told by Mrs. Wilson that the accident occurred Park on avenue Lexington street. Doesn't Know Driver's Name When she was knocked down, Gatch said told. the driver the taxicab immediately got asked Mrs. Wilson she badly injured. She told the driver and placed her in the took her home. Neighbors said they saw her arrive the taxicab, not badly jured. Mrs. Wilson had been about an hour, she said, gan suffer She pain. she did not know name of the driver of the car which struck her.

2. March 16, 1933 The Evening Sun Baltimore, MD
Article from The Evening Sun, March 16, 1933

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Article Text

RECKORD SAYS CUT BANK RECEIVERS SEEK WON'T THIN RANKS TO KEEP PREFERENCE No Members Of State Guard Have Resigned And He Expects None Will [Continued From Page 30] and unquestionably suffered diseases from that source after the armistice. "I was commissioned a short time before the armistice and was kept in the service until June. 1919 couldn't get ou t.I was in my fortyninth year. And having been accustomed to quiet pursuit of real estate all my life I came away from Fort McHenry in a state of complete ex- "Disabled Since 1921" "I have been totally disabled ever since 1921. I hadn't been out of uniform but a little over three weeks when I suffered a nervous breakdown and I have been under doctor's care almost ever since. If my pensation and my insurance were cut off I'd be absolutely dependent on charity. "I volunteered, I had sold by business and worked for year in the quartermaster department as civilian employe before was commissioned. had three minor children. was told that was too old for actual service in the army. But I wanted to do something." Matter Of Choice Uncertain The question as to whether the emergency economy bill eliminated the alternative of any member of the Maryland National Guard in choosing between remaining in the guard and staying on the Veterans' Administration pay roll was one which General Reckord was unable to answer Readjustments of benefits received by the veterans now rests upon regulations which will be drawn up by President Roosevelt, under the terms of the economy bill. These regulations will have the force of law. Just what the regulations will be is not known yet. 1.100 Officers On Original List The law which provided the retirement of emergency officers with pay was originally designed to take care of 1,100 officers who had received injuries in battle But as the result of ruling by former Attorney-General William D. Mitchell while Solicitor-General about 8,000 officers were granted pay. General Reckord said today that while he was still of the opinion that the economy bill was entirely too drastic, he was in favor of cutting down this list to the original 1.100 battle casualties and would heartily support any regulations issued by the President to that end. Pleas Filed To Intervene Suits Attacking Provision Of Law Seeking to uphold the preferences granted deposits of the receivers of the four Baltimore banks which are in receivership by provisions in Section 71-G of the Emergency Banking Law passed by the Legislature on March 4. attorneys representing the four receiverships today applied for permission to intervene in the pending injunction and mandamus suits attacking the validity of the new law. The action was taken by counsel for the receiver of the Chesapeake Bank, the Park Bank and Title Guarantee and Trust Company and the Commercial Savings Bank. Distribution At Stake The additional ten per cent. distribution to depositors of the Chesapeake scheduled to be made within little more than month, will depend largely upon the priority being upheld the courts, it was stated. While no distribution to depositors of the Park Bank is impending. the validation of the priorities granted by the new law will be necessary, it was said, to enable the receivership to act under recent authorization to pay off the remaining indebtedness of the bank to the Reconstruction Finance Corporation. City Intervenes The first hearings on the validity of the new banking law is expected to take place Saturday before Judge Eugene O'Dunne in the Circuit Court, No. 2. in connection with the injunction suit pending in that court. The suit sought to hold the banking law invalid and to enjoin any preferential payments under the new law by the Baltimore Trust Company. The mandamus suit, which also seeks to have the banking law declared unconstitutional and to prevent preferential payments by any bank under the new law. is pending in the Baltimore City Court, where hearings will be held shortly before Chief Judge Samuel K Dennis. An answer to the mandamus is due to be filed this week by State Bank Commissioner John Ghingher. Prior to the action of Herbert Levy, John E. Semmes, William L. Marbury,

3. December 31, 1934 The Evening Sun Baltimore, MD
Article from The Evening Sun, December 31, 1934

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Article Text

By Rodney Crowther Financial Editor The Evening Sun Seven Baltimore which remain closed, six of them in receivership, and one shortly to placed in receivership, have far distributed depositors total 537,514, slightly more than cent. of the aggregate deposits of 273,161.87 which they had when their doors to figures compiled from records the State The six institutions in receivership the American Trust Company, the Chesapeake the Commercial Savings Bank, the Park Bank. the Title Guarantee Trust Company and the Savings Bank. The last named placed in ceivership last Friday. The Baltimore Trust after of to be placed in in the near future. Payments Made By Six Of the total distributions made the bulk has come from the Baltimore Trust Company. Including offsets and secured deposits, the positors out original deposits $37,389,567. Only the Title Guarantee has If plans of this are will be made. The status of the seven institutions present set forth in the following summary: THE AMERICAN TRUST COMPANY An original distribution of fifteen amour to $57,537, 18, 1933. Because of the difficulty in enforcing agreement orginally made with institution the Union Trust Company and the Baltimore Clearing House Association with the Union Trust Company with respect to its losses in the American Trust Company the institution was placed in ceivership. Early last November compromise reached under which the receiver obtained from the Clearing House banks sources of approximately $185,357 for distribution. receiver stated yesterday that he pects make payment from per cent. on this institution shortly. THE CHESAPEAKE reports that distributions, for per cent. on December 1931, and one for ten cent., per aggregating are the moneys which have Since the distribution he has collected has fair money on hand, but another distribution this THE COMMERCIAL first distribution of five mailed out positors last week. No further yet been collected for tribution. THE PARK distribufar made depositors of this aggregate one payment per having been made 1933, and another May 1934. The receiver states that he collected fair amount of cash since [Continued On Page