Louisville National Bank & Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 5161
Charter Number: 5161
Start Date: December 1, 1930
Location: Louisville, Kentucky (38.254, -85.759)

Metadata

Model: gpt-5-mini
Short Digest: 6768b181

Response Measures

None

Description

Article (Dec 1, 1930) states the Louisville National Bank and Trust Company is closed and is one of four institutions sued for alleged illegal deals and waste of assets. No run is described; closure appears tied to alleged malfeasance. No explicit receiver mentioned for this specific bank in the excerpt.

Events (1)

1. December 1, 1930 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Alleged illegal dealings, waste of capital, unlawful loans and investments (maintenance of fictitious market for Bancokentucky stock, improper loans to Caldwell & Company) leading to closure.
Newspaper Excerpt: Recovery was sought on the ground of alleged and waste of the capital, surplus, deposits and other reseources of the four companies, all of which are closed.
Source: newspapers

Newspaper Articles (1)

1. December 1, 1930 The Daily World Helena, AR

Article from The Daily World, December 1, 1930

Click image to open full size in new tab

Article Text

SEEK RECOVERY $25,000,000 FROM BANK CREDITORS ACCUSE BANKCOKENTUCKY OF ILLEGAL DEALGWITH CALDWELL CO. Louisvile. Ky. Dec. Suit to recover from officers and directors of the Bancokentucky Company, the Louisville National Bank and Trust Company, the National Bank of Kentucky and the Louisville Trust Company for the benefit of stockholders and depositors was filed in Jefferson circuit court here today It was Dr. Luther Scholl, Jamestown Ky., stockholder, and the Rogers Brothers Coal Company, Bevier, Ky., and the Rogers brothers depositors in the National Bank of Kentucky. Recovery was sought on the ground of alleged and waste of the capital, surplus, deposits and other reseources of the four companies, all of which are closed. The petition charges the officers with various unlawful acts and sues in the name all stockholdCTS, creditors and depositors. The petition asks if obtained, be decreed trust fund to be apportioned on an equitable basis Defendants are charged with having wasted reseources in maintaining fictitious market for Bancokentucy Company stock, with having borrowed millions in their own institutions on their capital stock to buy Bancokentucky stock in the open market at prices in cess of real value, of having caused (the investment of fiduciary and trustee funds in Bancokentucky, of having exchanged Bancokentucky stock for that of Caldwell Company the latter had no market and the company was failand of having loaned several to Caldwell & Company without security. The Caldwell Company was recently placed in receivership.