7322. Continental Trust Company (Baltimore, MD)

Bank Information

Episode Type
Suspension โ†’ Reopening
Bank Type
trust
Start Date
February 9, 1904
Location
Baltimore, Maryland (39.290, -76.612)

Metadata

Model
gpt-5-mini
Short Digest
e06a3a09a5ec003f

Response Measures

None

Description

Articles refer to the Continental (OCR as 'Continential' in 1904) Trust Company of Baltimore. No bank run is described. In 1933 the bank was affected by the statewide bank holiday but was permitted to reopen for fiduciary business; thus the sequence is a suspension (government-declared bank holiday) with reopening. Also included is a 1904 note describing vaults opened after the Baltimore fire (not a suspension or run).

Events (2)

1. February 9, 1904 Other
Newspaper Excerpt
The vaults of the burned Continental Trust Company building were opened at noon, thousands of dollars in currency and bonds being found undamaged.
Source
newspapers
2. March 14, 1933 Suspension
Cause
Government Action
Cause Details
1933 federal/state-declared bank holiday; banking authorities permitted Continental Trust Company to reopen for fiduciary business on March 14, 1933
Newspaper Excerpt
the Continental Trust Company...whose business is not general banking business but fiduciary business, handling trust estates open tomorrow.
Source
newspapers

Newspaper Articles (2)

Article from Alexandria Gazette, February 9, 1904

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Article Text

fectly fireproof" building, yet it too succumberedand instances of much-heralded fireproof buildings. which went up in flames and smoke on that direful Sunday could be multiplied almost without limit and the conclusion is clearly drawn that only by using proper precautions and protecting their buildings from the influence of fire can owners and occupants hope to escape disaster. The Maryland legislature last night under a suspension of the rules passed a law that February 8 to 15, 1904, inclusive, shall be legal holidays as regards the presenting for paymento acceptance and the protesting of notes, drafts and bills and shall be treated as Sundays. All bills, drafts, notes, etc., presentable for payment or acceptance on those days shall be deemed to be presentable on February 16. The Governor is empowered to extend by proclamation this period of bank holiday from time to time, in his discretion, until the present emergency shall, in his judgment, be ended. In the event of his proclamation for additional bank holidays then notes and bills shall be payable on the succeeding day. There was a general meeting of the Citizens' Pemanent Relief Committee, attended by several members of the Legislature and the city council, held in the mayor's reception room at the city hall yesterday afternoon. Various sugges tions were made as to the best means of securing relief funds and money for restoring municipal buildings, removing the debris, replacing hose lost by the fire department, and buying dynamite. It was finally resolved to ask the legislature for authority to float a temporary loan, not to exceed 000, The only building in the burned area that stands staunch is that of the Safe Deposit and Trust Company on South street below Baltimore. Its interior woodwork on the northwest is scorched, but otherwise it is uninjured. The fire will take a leading place among the three great fire catastrophes in the history of the country. The opinion was expressed yesterday by an insuranceexpert that theinsurance companies will be able to meet the losses caused by the fire. A bill was introduced yesterday by Representative Emrich of Illinois appropriating $1,000,000 for the relief of suffers from the Baltimore fire. The Baltimore papers state that the fire covered 75 blocks, or 140 acres of ground. As there are 640 acres in a square mile and as Alexandria is about a mile square, the business district in Baltimore is equal to over one-fourth of the area of Alexandria. Official reports state that but one person was killed by the fire. THE SITUATION TODAY. Baltimore, Feb. 9.-Acting Chief Emrich of the Baltimore fire department made this statement this morning "The fire at 9 'clock this morning is practically a thing of the past. Ruins are vomiting forth flame and smoke but there is now no danger of its spreading farther." The weather this morning is sharp and chill. A cold spell of two weeks duration would entail suffering in its direst form on a large portion of the families of Baltimore. Food is scarce. Much of the available supply was burned when the fierce onrush of the flames swept away tbe commission district. In one of the most prominent hotels last night food was exhausted at 9 o'clock. Specially expressed orders were delivered from Philadelphia for breakfast today. This typifies the situation as to provisions, but in humbler quarters the pinch is more sharply felt. Back of these causes for apprehension lies the general demoralization which affects every stratum of Baltimore. The realization of the magnitude and completeness of the stroke which fate has dealt their city affects banker and worker alike. The recovery will be a herculean effort, not necessarily of money and financial enterprise, but of civic spirit an indomitable will by the whele citizen body. Adjutant General Riggs, speaking of the police condition of the city this morning] said "Not one case of attempted or accomplished looting has been reported. The city is not under martial law. The troops are simply an anjunet to the police and a cordon has been established and will be maintained around the entire fire zone. Suspicious characters will not be tolerated and the saloons must all remain closed." Major General H. C. Corbin, who arrived here last evening, following & midnight conference with Adjutant General Riggs, of the State troops, returned to his New York headquarters, first having countermanded orders directing three battalions of regulars from Governors' Island and the others from Plattsburg and Fort Madison barracks to report to Baltimore as additional guards. The situation was thoroughly satisfactory to General Corbin. Baltimore, Feb. 9.-The vaults of the burned Continential Trust Company building were openedat noon, thousands of dollars in currency and bonds being found undamaged. Such banks as areable are doing business despite the holiday declared for ten days. Assistant U. S.


Article from The News, March 14, 1933

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Article Text

BALTIMORE BANKS TODAY National And State Institutions Affected By Order. PERMISSION GIVEN FORMAL o: all five national banks. one state bank member of the Federal Reserve system and seven state banks in Baltimore on an unrestricted basis tomo:row was announced tonight by banking authorities here. Hugh Leach. manager of the Bait:- the more branch of the Federal Reserve Bank, Richmond. announced permission to re-open had been given the Canton National. First National. N.ttonal Central. National Marine and Western National banks and also the Maryland Trust Company. state bank member. Permission for unrestricted business beginning was given by John J. Ghinger. state bank commissione. to the following state banks in Baltimore Calrert Bank Colonial Trust Company. Equitable Trust Company. F.delit. Trust Company. Mercantile Trust Company. Morris Plan Bank and Real Estate Trust Company Ghinger also said the Safe Deposit and Trust Company and the Conter mtai Trust Company. whose business is no: general banking business but fiductary business. handling trust tates open tomorrow. Commissioner Ghingher late tonight tutions = Baltimore would be permitted to re-open tomorrow on norms: his basis and four mutual savings institum. banks were opened in Baltimore for business before the bank holiday declared. These national three state banks which are members of the Federal Reserve system and 25 state banks. Reopening of state banks in the of Maryland on normal is presented by State and Federal Regulations until Wednesday. it was said Representatives of the county banks will meet at the bank commissioner's office tomorrow morning to Ghingher and Got. on for re-opening Among the financial houses that were to reopen on :00 per same. and Alexancer Brown and Son: