7329. Louisville Trust Company (Louisville, KY)

Bank Information

Episode Type: Suspension → Reopening
Bank Type: trust company
Start Date: November 17, 1930
Location: Louisville, Kentucky (38.254, -85.759)

Metadata

Model: gpt-5-mini
Short Digest: 070834a1

Response Measures

None

Description

Louisville Trust Co. was placed in the hands of the state banking commissioner and failed to open Nov 17, 1930 amid wild rumors (connected to the Caldwell & Co. collapse). The institution was reorganized and reopened in August 1931 (articles give Aug 24, 1931 as reopening date). The Trust was affiliated with the National Bank of Kentucky and Bancokentucky holding company.

Events (2)

1. November 17, 1930 Suspension

Cause: Rumor Or Misinformation
Cause Details: Closed after wild rumors about its condition following the collapse of Caldwell & Co.; directors said institution was solvent and closed as a precaution and was placed in hands of the state banking commissioner.
Newspaper Excerpt: the Louisville Trust Company failed to open for business...placed in the hands of the state banking commissioner...closing of the banks was described...as an outgrowth of rumors circulated following the collapse of Caldwell & Co....directors said they were solvent and that they were closed as a precautionary measure.
Source: newspapers

2. August 24, 1931 Reopening

Newspaper Excerpt: LOUISVILLE TRUST CO. TO RESUME BUSINESS...Reopening set today for August 24...The reorganized institution...will reopen with capital stock surplus of $500, deposits of approximately $11,000,000.
Source: newspapers

Newspaper Articles (24)

1. November 17, 1930 The Indianapolis Times Indianapolis, IN

Article from The Indianapolis Times, November 17, 1930

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DOORS OF FOUR BANKS CLOSED AT LOUISVILLE 65 Millions Are Listed in Combined Resources; Others Shut. Bu United Press LOUISVILLE, Nov. 17. - The Louisville Security bank and the American Mutual Savings bank, the latter Negro-owned and operated. closed their doors here today after the National Bank of Kentucky and the Louisville Trust Company failed to open for business. The Security bank was afffiliated with the National Bank, which was taken over by the federal controller of currency. The Negro bank was affiliated with the Louisville Trust Company, which was placed in the hands of the state banking commissioner. The four banks combined list resources aggregating $65,000,000. All the institutions were declared solvent, but it was said that it "was necessary to close them to conserve the resources and protect creditors, depositors and all others concerned." Closing of the banks was described in local financial circles as an outgrowth of rumors circulated following the collapse of Caldwell & Co., of Nashville, Tenn., largest investment house in the south. However, James Brown, president of the National bank, reiterated today that plans for a group merger with Caldwell & Co., were abandoned several days before the brokerage went into the hands of a receiver.

2. November 17, 1930 News-Record Neenah, WI

Article from News-Record, November 17, 1930

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PROTECT DEPOSITORS Kentucky, Arkansas Affected United Paul Keyes receiver to date the affairs of the national Bank of Kentucky at Louisville today by Comptrolof the Currency John W. Pole. The Louisville bank suspended operations today when its directors voted turn its affairs comptroller of the Keyes veteran member of the comptroller's staff. Louisivlle, Louisville Security bank and the American Mutual Savings bank, the latter negro-owned operated, closed today after the National Bank of Kentucky and the Louisville Trust company failed to open for business. The Security bank was affiliated with the National bank which was taken over by the federal comptroller of currency. The negro bank was affiliated with the Trust company which was placed in the hands of the state banking commissioner. The four banks combined aggregatin All of the institutions were declarsolvent, but that sary to close them conserve the and protect cerditors, positors and all others concerned. Jefferson City, northMissouri banking closed their doors today rect result failure last the State Savings Loan Trust company of Quincy, Ill. All the institutions had deposittheir surplus funds the nois bank, and were forced to close their doors to protect depositors. Little Rock, AmeriExchange Trust company Little Rock, of which Banks president, and 15 banks affiliated with the Banks company, closed today, the state banking partment announced today. The action was taken, plained, under an Arkansas permitting bank to close rarily for period of five days, after which it must be reopened placed the hands of the state banking department. Springfield, Illinois banks the number of failures in the state since Friday to five. The Bartlett and Wallace State bank, Clayton, and the Timewell State bank, Timewell, were closed today, State Auditor Oscar Nelson announced. All the closings were in tion with the failure of the State Savings Loan and Trust company, Quincy, of which the Timewell and Clayton institutions respondents. The Timewell bank deposits of $150,000 and the Clayton bank $500,000. Pine Bluff, Merchants Bank and Trust comPine Bluffs, and Smaller banking institutions in southeastern Arkansas, failed open their doors today. The smaller instituions Bank of Star City, Bank of Altheimer, Eudora Bank Trust company, the Bank of Wabbaseka, First State bank of Stuttgart, ChiTrust company of Lake Village, and the Merchants and Planters bank of Humphreys. Helena, Merchants Planters bank of Helena, closed today. Officials announced they regarded the institution solvent but closing to protect itors. Louisville, national bank Kentucky, capitalized and affiliated bank, the Louisville Trust Company, failed today and the taken by national bank examiner. notice posted by the board directors and signed Russell Mooney, national bank examiner, said national bank solvent that had been closed

3. November 17, 1930 The Indianapolis Times Indianapolis, IN

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DOORS OF FOUR BANKS CLOSED 65 Millions Are Listed in Combined Resources: Others Shut. United LOUISVILLE Louisville Security bank and the American Mutual Savings bank, the latter operated doors today after the National Bank of Kentucky and the Louisville Trust Company failed for business. The Security bank was afffiliated with the National Bank, which over by the federal controller currency The Negro bank was affiliated with the Louisville Trust Company, which placed in the hands the state banking commissioner. The four banks combined list All solvent, it said that them and protect creditors, depositors concerned. Closing of banks was scribed financial circles outgrowth of rumors circulated following Caldwell Nashville, Tenn., largest investment house in the south Brown, president of National reiterated plans for group merger Caldwell abandoned the brokerage went into the hands receiver. Steady Run Blamed United LITTLE ROCK, Ark., Nov. The American Trust Company, failed to open for busihere today. notice posted by officers of the that the the its board of solvent and has to susfor five days to depositors. affiliated banks also closed. The of the institution. which and Sept. 24, had assets of $20,005,697, that the action forced "by excessive withdrawals totaling more than $4,000,000 during the last ten

4. November 18, 1930 Brownsville Herald Brownsville, TX

Article from Brownsville Herald, November 18, 1930

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BANKS CLOSING AS PRECAUTION Many Kentucky Houses With Closed Doors Solvent, Officials Declare LOUISVILLE, Ky., Nov. 18.-(P) -Eight Kentucky financial institutions with resources totalling more than $75,000,000 were closed today. The largest of these was the National Bank of Kentucky at Louisville, which was under control of a receiver, Paul C. Keyes, of the staff of the comptroller of the currency at Washington. Its resources approximate $60,000,000. Directors of the National Bank of Kentucky said the suspension yesterday was deemed necessary because of "wild rumors" concerning its condition. Simultaneously with its closing, two affliated institutions, the Louisville Trust company and the Security Bank, suspended operations. Their directors said they were solvent and that they were closed as a precautionary measure. The three institutions are affiliated through the BancoKentucky, a holding company. Two small negro banks in Louisville, the American Mutual Savings bank and the First Standard bank, which cleared through the Louisville Trust company, later closed. The Bank of St. Helens, a Louisville suburb, also suspended as a precautionary moasure. Two banks outside Louisville also closed when it was learned the National Bank of Kentucky had suspended. They were the McElwain Meguiar Bank and Trust company at Franklin, Ky., and the First National bank at Horse Cave. Ky. The National Bank of Kertucky served as correspondent for both. Officers of other leading Louisville banks issued statements last night declaring yesterday's deposits were greater than withdrawals. reported new accounts were opened during the day, and reiterated earlier statements that the institutions were solvent.

5. November 18, 1930 The Brownsville Herald Brownsville, TX

Article from The Brownsville Herald, November 18, 1930

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BANKS CLOSING AS PRECAUTION Many Kentucky Houses With Closed Doors Solvent, Officials Declare -Eight Kentucky financial institutions with resources totalling more than $75,000,000 were closed today. The largest of these was the NaLional Bank of Kentucky at Louisville, which was under control of a receiver, Paul C. Keyes, of the staff of the comptroller of the currency at Washington. Its resources approximate $60,000,000 Directors of the National Bank of Kentucky said the suspension yesterday was deemed necessary because of "wild rumors" concerning its condition. Simultaneously with its closing, two affliated institutions, the Louisville Trust company and the Security Bank, suspended operations. Their directors said they were solvent and that they were closed as 2 precautionary measure. The three institutions are affiliated through the BancoKentucky, a holding company. Two small negro banks n Louisville, the American Mutual Savings bank and the First Standard bank, which cleared through the Louisville Trust company, later closed. The Bank of St. Helens. a Louisville suburb, also suspended as a precautionary measure Two banks outside Louisville also closed when it was learned the National Bank of Kentucky had suspended. They were the McElwain Megular Bank and Trust company at Franklin. Ky. and the First National bank at Horse Cave Ky. The National Bank of Kentucky served as correspondent for both. Officers of other leading Louisville banks issued statements last night declaring vesterday's deposits were greater than withdrawals. renorted new accounts were opened during the day. and reiterated earlicr statements that the institutions were solvent.

6. November 18, 1930 The Amarillo Globe-Times Amarillo, TX

Article from The Amarillo Globe-Times, November 18, 1930

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EIGHT BANKS IN KENTUCKY CLOSED TODAY Kentucky financial institutions with resources totalling more then $75,000,000 were closed Loday, The largest of there was the National Bank of Kentucky at Louisville, which der control of a receiver, Paul C. Veyer, of the staff of the comptroller of the currency at Washington. Its reDirectors of the National Bank of Kentucky said the suspension yesterday was deemed necessary because of "wild rumors" concerning its condition. Simultaneously with its closing, two affiliated institutions, the Louisville Trust Company and the Security Bank, suspended operations. Their dithat they were closed 85 0 precautionarea affiliated through the Banco-Kentucky, a holding company.

7. November 18, 1930 The North Adams Transcript North Adams, MA

Article from The North Adams Transcript, November 18, 1930

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Largest Institution is National Bank of Kentucky Located at Louisville. Louisville, Nov. Eight Kentucky financial institutions with resources totaling more than $75,000,000 were closed today. The largest was the National bank of at which under the of Paul Keyes of the staff of the comptroller of the at Its resources approximate $60,000,000. Directors of the National bank Kentucky said the yesterday deemed necessary rumors" concerning its dition. with its ing, affiliated institutions, Louisville Trust company and the Security bank, Their directors said they were solvent and they were closed as Officers the other leading Louisville banks issued last night declaring deposits were greater the withdrawals, new were opened during the day, and earlithat the institutions solvent. Plan to Reopen Banks Little Rock, Optimism expressed statements financial leaders they laid plans today to reopen banks which suspended temporarily closed. The of the Exchange Trust here, largest and one of the oldest banks in state, which suspended for five days, was engaged with plans resume Closing the American Exchange by of activities by the other banks, the deposits of which were more than $27,000,000. B. Banks, president of the American and stockholder in the other banks over the state, the boards of to obtain pledges of loyalty from their and capital to assure freedom of danger from The Little Rock clearing house the public that banks were in sound condition. Hysteria following receivership proceedings against Caldwell Company, Tenn., bankers, until interested in the American was attributed directors the latter the cause steady which reached about $4,000,000.

8. November 18, 1930 The Lincoln Star Lincoln, NE

Article from The Lincoln Star, November 18, 1930

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RUMORS BLAMED IN BANK CLOSING Eight Kentucky Financial Institutions Suspend Operations. LOUISVILLE, Ky., Nov. Eight Kentucky financial institutions with resources totalling more than $75,000,000 were closed today. of these was the NaThe largest tional Bank of Kentucky at Louisville, which under the control of receiver, Paul C. Keyes of the staff of the comptroller of the currency at Washington. Its resources $60,000,000. approximate Directors the National Bank of Kentucky said the suspension yesterday was deemed necessary cause of "wild rumors" concerning its condition. Simultaneously with two affiliated instituclosing. tions the Louisville Trust Co., and Security bank, suspended operthe ations. Their directors said they were solvent and that they were closed as precautionary measure. The three institutions affiliated through holding company. Negro Banks Close. Two small negro banks in Louisville, the American Mutual Savings bank and the First Standard bank, which cleared through the Louisville Trust later closed. The Bank of St. Helens, Louisville suburb. also suspended as precautionary Two banks outside Louisville also closed when it was learned National Bank of Kentucky had suspended. They McElwain Meguiar Bank Trust Co. at Franklin, and the First National bank Horse Cave, Ky. The National Bank of Kentucky served as correspondent for both. Officers of other leading Louisville banks issued statements night declaring yesterday's were greater than reported new accounts were opened during the day, and reiterated earlier statements that the institutions were solvent.

9. November 18, 1930 Montpelier Evening Argus Montpelier, VT

Article from Montpelier Evening Argus, November 18, 1930

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SATISFYING That Now Faces the Conference Relative to Naval Limitations Geneva, Nov. preparatory disarmament commission today adopted the first article of the naval armament section of the draft vention providing for total elimination and reduction of tonnage. Immediately after approving the soviet proposal to insert the word "reduce" in the report, the commission rejected Russian effort to eliminate from the draft ad provision for exempting list of "special vessels" from limitation. Debate today was waged around the desire of the smaller naval powers for great freedom to transfer tonnage the categories of small ships which they regard as essential to their fense needs. Both Mr. Gibson and Lord Cecil expressed sympathy with this attiwhile suggesting that policy building submarines without limit might prove grave menace to peace. The Spanish, Swedish and Russian delegates offered amendments to this freedom to the smaller navies. The dividing line between big vies which would be bound by gory limitation and small navies which wouldhave full liberty of transfer then came up. The Spanish representatve wishes to leave formation of this line to the conference. Sweden wished to hold at 10,000 tons while Russia proposed 200,000 tons. The commission then proceeded seek agreement on the next two ticles which provide for limitation categories and the right of transfer for percentage of tonnage from category to another. These three provisions are parallel those of the London naval treaty. The Russian delegation succeeded getting insertion of provision for reduction as well limitation in the phraseology of the first articles. Here Maxim the Russian representative, found himself in the majority for the first time this sion of the commission. Hugh Gibson, the American delegate the British and the French, had in agreeing with this Soviet joined proposal. Unable to agree on how to satisfy the desire of the smaller naval powers for freedom transfer in more gories, the commission entrusted this problem for study to small committee made up of the chief delegates Russia, Japan, Sweden, Spain and of Greece. Conditions in That State Are Alarming in Financial Circles, It is Said Louisville, Kentucky financial institutions with resources totaling more than 000,000 were closed today. The of these was the national bank Kentucky at Louisville, which was under the control of receiver, Paul Keyes, of the staff of the troller of the currency Washington. Its resources approximate $60,000,000. Directors of the National Bank Kentucky said the suspension yesterday was deemed necessary because rumors" concerning its conditSimultaneously with its closing, affiliated institutions, the Louisville Trust company and the Security bank, suspended operations. Their directors said they were solvent and they closed precautionary measures. Officers of the other leading Louisbanks issued statements last night declaring yesterday's deposit greater than the withdrawals, reported new accounts were opened during the day, and reiterated statements that the institutions solvent.

10. November 18, 1930 Press-Telegram Long Beach, CA

Article from Press-Telegram, November 18, 1930

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GOVERNMENT DEFICIT NOV. 15 IS $278,291,356 WASHINGTON, Nov. 18.-(P) -The Government's deficit on November 15 was $278,291,356 or $71,000,000 greater than last year. Income tax collections the mid- The largest of these was the Na. tional Bank of Kentucky at Louisville. under control of receiver, Paul C. Keyes, of the Comptroller of the Currency at Washington. Its resources $60,000,000. Directors of the National Bank of Kentucky said the suspension yeeterday was deemed necessary because of wild rumors concerning its condition. Simultaneously with closing. two affiliated institutions. the Louisville Trust Company and the Security Bank, suspended operations. Their directors said they were solvent and were closed as die of next month and in March will wipe it out temporarily at least. Whether the Treasury will finish the fiscal year in July with the deficit expected by President Hoover will depend on the March and June collections. Treasury figures today also showed Federal expenditures had increased $55,000,000 in the first four months of this fiscal year as compared with the same period a year ago. From last July to October 31, $790,000,000 was spent. At the close of business Saturday the Government had collected $1,075,181 since July 1 and had spent $1,353,473,345. The Farm Board spent $24,655.000 in four months and another $15,329,790 in the fifteen days of November. The total collections of the Government from July to November 15 were $184,000,000 less than that collected in the same period of last year, while the total expenditures were 13,000,000 less than year ago.

11. November 18, 1930 New Britain Herald New Britain, CT

Article from New Britain Herald, November 18, 1930

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EIGHT KENTUCKY BANKS ARE CLOSED at Rumors" Blamed Louisville Ky Nov Kentucky financial resources totalling more than $75.closed today The largof these was bank of Kentucky at Louisville which under the of Paul Keyes, of the staff of the comptroller of the currency at WashingIts approximate Directors the National bank of said the terday was cause of "wild rumors" condition. with affiliated institutions the Louisville Trust Co and the operations Their directors said they and that they as precautionary measures The three institutions affiliated through other leading Louisville statements last night yesterday's deposits greater withdrawals ported opened during the day and reiterated that the institutions solvent

12. December 11, 1930 The Winchester Sun Winchester, KY

Article from The Winchester Sun, December 11, 1930

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BROWN FILES BANKRUPT President of National Bank Kentucky Says He Debts He Unable (By Associated Press.) LOUISVILLE, Dec. James Brown, president of the National Bank of Kentucky and formerly president of the Bancokentucky company, filed voluntapetition in federal court here today. Both these institutions and the Louisville Trust Company in which Brown was interested are now in receiverships. The petition states Brown has debts is unable pay and will ing surrender all his property cept that exempt by law to creditors In addition banking Brown publisher of the Louisville HeraldPost.

13. December 26, 1930 New Britain Herald New Britain, CT

Article from New Britain Herald, December 26, 1930

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BANCOKENTUCKY NAMED IN $4,100,000 ACTION Boston Woman Claims Directors Are Guilty of Fraud and Gross Violation of Duties, Louisville, Ky., Dec. 26 P-Margaret W. Long of Boston and her trustee, George W. Cushing, filed suit in federal district court here today against directors of the Bancoken. tucky company. the National Bank of Kentucky and the Louisville Trust company, demanding $4,100,000 damages. Charging the directors with fraud and gross violation of duties at the expense of the minority stockholders, the plaintiffs aver they are owners of 150 trustees' participation shares which never were exchanged for Bancokentucky stock and assert they are suing on behalf of 60 other stockholders, similarly situated, owners of 30,000 trustees' shares. The Bancokentucky, a holding corporation, and the two affiliated institutions are in receivership.

14. March 26, 1931 The Courier-Journal Louisville, KY

Article from The Courier-Journal, March 26, 1931

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BLOOMINGTON BANK TO BE PAID $46,116 Circuit Judge Lafon Allen Wednesday the receiver for the Louisville Trust Company to pay the Bloomington Bank Bloomington the sum of $46, 116.50 in full satisfaction and discharge of liability the trust company to the Indiana bank It was explained the petition that the Fidelity & Columbia Trust Company as had since the Louisville Trust Company $46 account items for collection by Bloomington closing institution, prior to the

15. August 19, 1931 Detroit Free Press Detroit, MI

Article from Detroit Free Press, August 19, 1931

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LOUISVILLE TRUST CO. TO RESUME BUSINESS LOUISVILLE, Ky. Aug. 18-(A. Reopening the Louisville Trust company set today for August 24 meeting tentative directors. The which closed last will reopen with capital stock surplus of $500, deposits of approximately $11,000,000. announcthat Rahill, former Chemical Bank Trust has accepted the presidency of the reorganized institution. Chesapeake Ohio. Declared regular dividend October to stock of

16. August 23, 1931 The Harlan Daily Enterprise Harlan, KY

Article from The Harlan Daily Enterprise, August 23, 1931

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UNDER THE DOME OF THE CAPITOL By DWIGHT L. PITKIN. Associated Press Staff Writer. Frankfort, Ky., Aug. 22 (AP) The banking situation in Kentucky is beginning to take on a brighter aspect, in the opinion of C. S. Wilson, state banking commissioner. Rural banks have been replenished, he said, by a bumper lamb crop which brought in much needed cash. There were fewer sheep on Kentucky farms this year but the number of lambs raised per 100 ewes was greater than last year. The crop was of excellent quality. "What's needed now," remarked Commisioner Wilson, "is a good price for the tobacco crop." Reopening in Louisville tomorrow of the re-organized Louisville Trust Company will be the ninth state bank that has re-opened out of the group that closed their doors to conserve assets in the wake of the crash in Louisville last Nov. 17. Another one, the Guaranty Bank & Trust Company, of Lexington, has been taken over by the Citizens Bank & Trust Company under the presidency of W. A. Dicken, former state banking commissioner. Thirty-seven banks and trust companies, under the supervision of the state banking department, have been suspended since Jan. 1, 1929. The gross deposit liabilities of these institutions totaled $29,087,437. Of the banks re-opened or liabilities assumed, the gross deposit liabilities totaled $6,410,677. The re-opening of the re-organized Louisville Trust Company is expected to release gross deposit liabilities of $13,859,914. This would make a total of gross deposit liabilities released of $20,270,591. The state banking department estimates that amount of gross deposit liabilities of state banks in suspension from the period beginning Jan. 1, 1929, will be $8,816,846 after the re-opening of the Louisville Trust Company. All but nine of these state bank suspensions date after the closing of the Louisville Trust Company and the National Bank of Kentucky in Louisville last November. Liabilities of the National Bank of Kentucky are not included in the state banking departments statisties as it was under the supervision of the federal banking department. The National Bank of Kentucky has already paid a 67 per cent dividend. Banks that closed prior to November have been or are being liguidated. Kentucky's Tourist Trade. Geoffrey Morgan, acting executive secretary of the Kentucky Progress Commission, attributes the increase in gasoline consumption in Kentucky this year to the Progress Commission's efforts in advertising the state's tourist attractions. The first six months of this year showed an increase in gasoline taxes of $180,178.03 over the same period last year. "It certainly pays to advertise," said Mr. Morgan, citing these statistics. "Take the figures for January. The tax commission showed gasoline taxes collected in January of this year totaled $620,88550 as compared with $503,046.73 for January of 1930. That is an enormous difference. The reason for it is this: We had an open winter the first of this year. So the tourists in Florida began flocking home. We had been advertising Kentucky among the tourists and the result was many of these tourists returned northward by way of Kentucky."

17. August 23, 1931 Henderson Morning Gleaner Henderson, KY

Article from Henderson Morning Gleaner, August 23, 1931

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Under the Dome of the Capitol The banking situation in Kentucky is beginning to take on a bright as pect, in the opinion of C.S. Wilson, state banking commissioner Rural banks have been replenish ed, he said, by a bumper lamb crop which brought in much needed cash. There were fewer sheep on Kentucky farms this year but the number of lambs raised per 100 ewes was greater than last year. The crop was of excellent quality. "What's needed now," remarked Commissioner Wilson, "is a good price for the tobacco erop." Reopening in Louisville tomorrow of the re-organized Louisville Trust company will be the ninth state bank that has re-opened out of the group that closed their doors to conserve assets in the wake of crash in Louisville last November 17. Another one, the Guaranty Bank and Trust company of Lex ington, has been taken over by the Citizens Bank and Trust company under the presidency of W A Dicken, former state banking com missioner Thirty banks and trust companies, under the supervision of the state banking department. have been suspended since January 1. 1929. The gross deposit liabilities of these institutions totaled $29, 087,437 Of the banks re-opened or liabilities assumed, the gross deposit liabilities totaled $6,410,677 The re-opening of the re-organized Louisville Trust company is pected to release gross deposit lia bilities of $13,869,914. This would make a total of gross deposit liabilIties released of $20,270,591 The state banking department estimates that amount of gross deposit liabilities of state banks in spspension from the period beginning January 1, 1929. will be $8,816,486 after the re-opening of the Louisville Trust All but nine of these state bank suspensions date after the closing of the Louisville Trust company and the National Bank of Kentucky in Louisville last November Lia bilities of the National Bank of Kentucky are not included in the state banking department's statis ties as it was under the supervision of the federal banking department. The National Bank of Kentucky has already paid a 67 per cent dividend Banks that closed prior to No vember have been or are being liquidated. These banks with the date of their closing and their gross deposit liabilities are listed here: Hickman Bank and Trust company 862: Hargis Bank and Trust company, Jackson, February 5. 1930. $554,368: Grayson County Bank Leitchfield. March 10. 1930. $357, 254: the Peoples bank. Mt. Vernon, April 22. 1930. $260,855: LaGrange Bank and Trust company. La Grange, May 26. 1930. $352,232: Bank of Russellville, Russellville, June 12, 1930. $183,660; Hazel Green bank. Hazel Green, June 30. 1930. $184,054; Elsmere Savings bank, Erlanger, July 3. 1930. $192. 870: Vine Grove State bank, Vine Grove, $91,464 The banks that have re-opened since November of last year in clude the Security bank, Louisville, with approximate gross deposit lia bilities of $1,996,001 It was able to open for business a few days after November 17. Other banks, with their gross deposit liabilities, that have reopened are: McElwainMcGuire Bank and Trust company, Franklin, $373,509; Bank of St. Helens, Shivley, $412,834: Peoples bank, Sulphur, $132,950; Bank of Crestwood State bank, Crestwood, $139,297 Fern Creek bank, Bue ton. $292,638: Bank of Sturgis, Sturgis, $256,463 Two negro banks, the First Standard bank and the American Mutual Savings bank, which closed in Louisville November 17. were later consolidated into the Mutual Standard bank. The bank result ing from the merger closed May 7 of this year and is being liquidated. Liquidating agents have been appointed for the following banks closed since November: Owsley County bang, Beoneville, $100,329: Union Central bank, Louisville, $503,578: Bankers Trust company, Louisville, $553,279. Hopkins County bank, Madisonville, $717,587: Woodbury Deposit bank, Woodbury, $37,693; Citizens Bank and Trust company, Middlesboro, $495,977: Webster County bank, Clay, $164, 676; Bank of Ludlow, Ludlow, $636,359; Bank of Hardinsburg and Trust company, Hardinsburg. $523.381. Liquidating agents have not been appointed for five state banks which have closed since the first of July. These banks are: Citizens

18. August 23, 1931 The Paducah Sun Paducah, KY

Article from The Paducah Sun, August 23, 1931

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Under the Dome of The State Capitol By DWIGHT L. PITKIN Associated Press Staff Writer FRANKFORT, KY., Aug. 22 (AP) -The banking situation in Kentucky is beginning to take on a brighter aspect, in the opinion of C. S. Wilson, state banking commissioner. Rural banks have been replenished, he said, by a bumper lamb crop which brought in much needed cash. There were fewer sheep on Kentucky farms this year but the number of lambs raised per 100 ewes was greater than last year. The crop was of excellent quality. "What's needed now." remarked Commissioner Wilson, "is a good price for the tobacco crop." Reopening in Louisville Monday of the re-organized Louisville Trust company will be the ninth state bank that has re-opened out of the group that closed their doors to conserve assets in the wake of crash in Louisville last Nov. 7. Another one, the Guaranty Bank & Trust company of Lexington, has been taken over by the Citizens Bank and Trust under the presidency of W. A. Dicken, former state banking commissioner. Thirty-seven banks and trust companies, under the supervision of the state banking department, have been suspended since Jan 1, 1929. The gross deposit liabilities of these institutions totaled $29,087,437. Of the banks re-opened or liabilities assumed, the gross deposit liabilities totaled $6,410,677. The re-opening of the reorganized Louisville Trust company is expected to release gross deposit liabilities of $13,859,914. This would make a total of gross deposit liabilities released of $20,270,591. The state banking department estimates that amount of gross deposit liabilities of state banks in suspension from the period beginning Jan. 1, 1929 will be $8,816,846 after the re-opening of the Louisville Trust company. All but nine of these state bank suspensions date after the closing of the Louisville Trust company and the National Bank of Kentucky in Louisville last November. Liabilities of the National Bank of Kentucky are not included in the state banking department's statistics as was under the supervision of the federal banking department. The National Bank of Kentucky has already paid a 67 per cent dividend. Liquidate Closed Banks. Banks that closed prior to November have been or are being liquidated. These banks with the date of their closing and their gross deposit liabilities are listed here: Hickman Bank & Trust Company, Hickman, Dec. 30, 1929, Hargis Bank & Trust company, $59,826; Hargis Bank & Trust company, Jackson, Feb. 5, 1930, $554,368; Grayson County bank, Leitchfield, March 10, 1930, $357,254; the Peoples Bank, Mt. Vernon, April 22, 1930, $260,855; LaGrange Bank and Trust company, LaGrange, May 25, 1930, $352,232; Bank of Russellville, Russellville, June 12, 1930, $183,660; Hazel Green bank, Hazel Green, June 30, 1930, $184,054; Elsmere Savings bank, Vine Grove, $91,464. The banks that have re-opened since November of last year include the Security Bank, Louisville with approximate gross deposit liabilities of $1,996,001. It was able to open for business a few days after Nov. 17. Other banks with their gross deposits liabilities, that have reopened are: McElwain-McGuiar Bank & Trust Co., Franklin, $373,509; Bank of St. Helens, Shively, $412,824; Peoples bank, Sulphur, $132,950; Bank of Caneyville, Caneyville, $318,216; Crestwood State bank, Crestwood, $139,297; Fern Creek bank, Buechel, $151,279; Farmers Bank, Fulton, $292,638; Bank of Sturgis, Sturgis, $256,463. Two Negro banks, the First Standard bank and the American Mutual Savings bank, which closed

19. August 24, 1931 The Cincinnati Enquirer Cincinnati, OH

Article from The Cincinnati Enquirer, August 24, 1931

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Banking Situation Brighter In Kentucky, Official Avers; Bumper Lamb Crop Is Aid August The banking situation Kentucky to take in the opinion of State Rural banks been bumper brought in much needed There fewer sheep Kentucky farms this year. but number lambs raised per than last year was of excellent quality. "What's remarked price for the in tomorrow the reorganized Louisville Trust Company will ninth that has the group that closed their assets in wake the crash Louisville November Another the Guaranty Bank and Trust has been taken by Citizens Bank Trust Company under the former State Banking Commissioner banks and trust com panies, under supervision of State Banking Department. since January 1929. gross deposit liabilities these institutions totaled Of the banks liabilities assumed, the gross deposit liabilities totaled the reorganized Trust pected deposit This would total gross deposit liabilities leased State Bank ing Department that amount gross deposit the period January $8,816,846 reopening the Louisville Trust Company All but nine of these state bank suspensions after the closing the Louisville Company and the National Bank Kentucky last Liabilities the Bank Kentucky Banking supervision Federal Banking Department National Bank Kentucky already has paid per cent Banks that were closed before No been being liquidated. These with the date of their closing and their gross deposit liabilities, listed here: Bank Trust Company 1929 $595,862 Hargis Bank Trust Company February $554,368 County March the Peoples Bank Vernon April LaGrange Bank and Trust Company LaGrange, May $352,232 Bank Rus Hazel Hazel Bank Vine Grove State Bank, Vine Grove The banks that have been opened last the Bank deposit lia business few November Other banks, with their gross deposit liabilities that re-opened Bank Trust Peoples Bank Sulphur, Bank State Bank $139. Fern Creek Bank Farmers Fulton Bank of Sturgis, Two Negro banks. the First Stan Bank Mutual Bank. which closed Louis ville, later solidated the Mutual Standard Bank from being Liquidating agents been for following Owsley County Bank Booneville, Bankers Company $553,279 Hopkins County Bank, Woodbury Citizens Trust Middlesboro, $495,977 Webster CounClay Bank Bank dinsburg Trust $523,381 Liquidating agents not been five that the first July Bank Drakesboro Bank Barlow Butler Bank $145,348 Beaver 269.

20. August 24, 1931 The Daily Independent Maysville, KY

Article from The Daily Independent, August 24, 1931

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of the re-organized Louisville Trust company is expected to release gross deposit liabilities of $13,859,914. This would make a total of gross deposit liabilities released of $20,270,591. The state banking department estimates that amount of gross deposit liabilities of state banks in suspension from the period beginning January 1, 1929, will be $8,816,846 after the re-opening of the Louisville Trust company, All but nine of these state bank suspensions date after the closing of the Louisville Trust company and the National Bank of Kentucky in Louisville last November. Liabilities of the National Bank of Kentucky are not included in the state banking department's statistics as it was under the supervision of the federal banking department. The National Bank of Kentucky has already paid a 67 per cent dividend Banks that closed prior to Novem- other one. the Guaranty Bank ber have been or are being liquidated. These banks with the date of Trust Company of Lexington, has been taken over by the Citizens their closing and their gross deposit Bank and Trust company under the liabilities are listed here: Hickman presidency of W. A. Dicken, former Bank & Trust Company, Hickman, state banking commissioner. Decemberf 30, 1929, $595,862: Hargis Thirty-seven banks and trust com- Bank & Trust Company, Jackson, panies, under the supervision of the February 5, 1930, $554,368; Grayson state banking department, have been County Bank, Leitchfield, March 10, suspended since January 1, 1929 1930, $357,254; the Peoples Bank, The gross deposit liabilities of these Mt. Vernon, April 22, 1930, $260,institutions totaled $29,087,437. Of 855; La Grange Bank and Trust the banks re-opened or liabilities Company, LaGrange, May 26, 1930. assumed, the gross deposit liabilities $352,232; Bank of Russellville, Rustotaled $6,410,677. The re-opening sellville, June 12. 1930. $183,660; Hazel Green Bank, Hazel Green, June 30. 1930, $184,054: Elsmere Savings Bank, Erlanger, July 3, 1930. $192,870: Vine Grove State Bank, Vine Grove, $91,464. The banks that have re-opened since November of last year include the Security Bank. Louisville with approximate gross deposit liabilities of $1,996,001. It was able to open for business a few days after November 17. Other banks, with their gross deposit liabilities, that have reopened are: McElwain-McGuiar Bank & Trust Co., Franklin. $373,509: Bank of St. Helens, Shively, $412,824: Peoples Bank, Sulphur, $132,950; Bank of Caneyville, Caneyville, $318,216; Crestwood State Bank. Crestwood, $139,297: Fern Creek Bank, Buechel, $151,279; Farmers Bank, Fulton, $292,638; Bank of Sturgis, Sturgis, $256,463. Two Negro banks, the First Standard Bank and the American Mu- tual Savings Bank. which closed in Louisville November 17. were later consolidated into the Mutual Standard Bank. The bank resulting from the merger closed May 7 of this year and is being liquidated. Liquidating agents have been appointed for the following banks closed since November: Owsley County bank, Boonevill, $100,329; Union Central Bank, Louisville, $503,578; Bankers Trust Company, Louisville, $553,279; Hopkins County Bank, Madisonville, $717,587; Woodbury Deposit Bank, Woodbury, $37,693; Citizens Bank & Trust Co., Middlesboro, $495,977; Webster County bank, Clay, $164,676: Bank of Ludlow, Ludlow, $363,359: Bank of Hardinsburg & Trust Co., Hardinsburg, $523,381 Liquidating agents hav not been appointed for five state banks which have closed since the first of July. These banks are: Citizens Bank, Drakesboro, $81,755; Bank of Barlow, $91,910: Butler Deposit Bank. Butler, $614,388; Bank of Wayland, Wayland, $145,348; Beaver Valley State Bank. Weaksbury, $113,269. Kentucky's Tourist Trade Geoffrey Morgan, acting executive secretary of the Kentucky Progress commission, attributes the increase in gasoline consumption in Kentucky this year to the Progress commission's efforts in advertising the state's tourist attractions. The first six months of this year showed an increase in gasoline taxes of $180,178.03 over the same period last year. "It certainly pays to advertise," said Mr. Morgan, citing these statistics. "Take the figures for Janusry. The tax commission showed gasoline taxes collected in January of this year totaled $620,885.50 as compared with $503,046.73 for January of 1930. That is an enormous difference. The reason for it is this. We had an open winter the first of this year. So the tourists in Florida began flocking home. We had been advertising Kentucky among the tourists and the result was many of these tourists returned northward by way of Kentucky."

21. August 24, 1931 The Kentucky Post Covington, KY

Article from The Kentucky Post, August 24, 1931

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PAGE BANK OUTLOOK CALLED BRIGHT Bumper Lamb Crop to Aid State Institutions COMMISSIONER REPORTS Good Price for Tobacco Needed Now, He Says FRANKFORT KY. Aug. Kentucky's banking situation has begun to take on bright aspect. That is the opinion expressed by S. Wilson, state banking com A bumper lamb crop that brought in cash has helped replenish rural banks, Wilson said Kentucky farms had fewer sheep but the number lambs raised per 100 greater than last year Excellent quality found in the crop. "What's remarked Wilson good price for the tobacco crop. Reopened Reopening Louisville today of the reorganized Louisville Trust Co. will be the ninth bank has reopened out of the group that closed their assets wake of the in Louisville Nov Another one, the Guaranty Bank Trust Lexington, has been taken over by the Citizens' Bank Trust under the presidency of W. Dicken. former state Thirty-seven banks and trust the the State Banking have been 1929 The gross of these totaled 437 or the banks reopened or liabilities sumed, gross deposit liabilities totaled Reopening of the reorganized Co. expected gross liabilities $13,859,914 make toliabilities released $20,270,591 The State Banking Department that amount gross deposit liabilities state will be the reopening of the Co. All But Nine All but nine of these state bank date after the closing the Trust Co. and the National Bank of Louisville last November. Liabilities of the National Bank of Kentucky are not included in the State Bankunder the supervision the Federal Banking Department. The National Bank Kentucky already has paid 67 per cent dividend Banks that were closed before November been or are being These with and their gross deposit liabilities, Hickman Bank Hickman, Dec 30, 1929 $595,862 Hargis Bank Co. Jackson Feb. $554,368 Grayson-co Leitchfield March 10. 1930, $357,254 Peoples Bank, Mt Vernon, April 1930, $260,855 Grange Bank Grange, May 26, 1930. $352,232; Bank of RusGreen 1930 $184,054: Elsmere Savings Grove State Bank, Vine Grove, $91,464. Others Come Back The banks that have been opened last year include the Security Bank. able open for few days after Other banks, their gross deposit liabilities, that been reopened Bank & Trust Bank of Helens, Shively $412,824 Peoples Grestwood State Bank Crestwood $139,297 Creek Bank Buechel $292,638; Bank of Sturgis Sturgis $256,463. Two Negro banks, the First Standard Bank and Muutal which Louisville later solidated into the Mutual Standard Bank. The from merger closed this year being liquidated. Liquidating agents have for the following banks closed since Novem Agents Not Named Bank, $100. 328 Union Bank, $503,578 Bankers Trust Co. Louisville $553,279 Hopkins-co Bank, Madisonville $717,587 bury Deposit Bank, Woodbury $37 Citizens Bank Trust Middlesboro, $495,977 Bank, Clay, $164,676 Bank of Ludlow, Ludlow $636,359 Bank of Har dinsburg & Trust Co. Hardinsburg Liquidating agents have not been appointed for five state banks that closed since the 1st These banks Bank Bank of Barlow, Barlow Deposit Bank, Butler Wayland Beaver State Bank, Weaksbury, $113,269.

22. August 26, 1931 Messenger-Inquirer Owensboro, KY

Article from Messenger-Inquirer, August 26, 1931

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KENTUCKY BANK SITUATION TAKES BETTER ASPECT Lamb Crop Aided Rural Institutions BY DWIGHT L. PITKIN (Associated Press Staff Writer) Frankfort, Ky., Aug. 26. (P)-The banking situation in Kentucky is beginning to take on a brighter aspect, in the opinion of C. S. Wilson, state banking commissioner. Rural banks have been replenishhe said, by a bumper lamb crop which brought in much needed cash. There were fewer sheep on Kentucky farms this year but the number of lambs raised per 100 ewes was greater than last year The crop was of excellent quality "What's needed now," remarked Commissioner Wilson, "is a good price for the tobacco crop." Louisville Trust to Reopen Reopening in Louisville Monday of the reorganized Louisville Trust company was the ninth state bank that has reopened out of the group that closed their doors to conserve assets in the wake of crash in Louisville last No ember 17. Another one, the Guaranty Bank & Trust company of Lexington. has been taken over by the Citizens Bank and Trust company under the residency of W. A Dicken, former state banking commissioner. Thirty-seven banks and trust companies, under the supervision of the state banking department have been suspended since January 1, 1929. The gross deposit liabilities of these Institutions totaled $29, 087 437. Of the banks reopened or liabilities assumed, the gross deposit liabilities totaled $6,410.677 The reopening of the reorganized Louisville Trust company is ex. pected to release gross deposit lia. bilities of $13,859,914. This would make a total of gross deposit liabilities released of $20,270,591. The state banking department estimates that amount of gross deposit liabilities of state banks in suspension from the period beginning January 1, 1929. will be $8,816,846 after the reopening of the Louisville Trust company. All but nine of these state bank suspensions date after the closing of the Louisville Trust company and the National Bank of Kentucky in Louisville last November. Liabilities of the National Bank of Kentucky are not included in the state banking department's statistics as it was under the supervision of the federal banking department The National Bank of Kentucky has already pald a 67 per cent dividend. Closed Banks Being Liquidated Banks that closed prior to November have been or are being liq. uidated. These banks with the date of their closing and their gross deposit liabilities are listed here: Hickman Bank & Trust company 862: Hargis Bank & Trust company, Jackson. February 5, 1930. $554,368; Grayson County bank, Leitchfield, March 10, 1930. $357.254; the Peoples bank, Mr. Vernon. April 22 1930, $260,855: LaGrange Bank and Trust company. LaGrange, May 26. 1930. $352,232;

23. January 6, 1932 The Kentucky Post Covington, KY

Article from The Kentucky Post, January 6, 1932

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SEE DISMISSAL OF BANK SUIT Receiver Files Petition Seeking Court's Advice KY Jan. The dismissal of the double liability suit of John C. Wickliffe Jr., the old Louisville Trust Co., 2000 stockholders, was predicted with the filing of petition for advice by Wickliffe The was pointed out. in his with John M. depositors and in seeking the dismissal the suit In the petition Wickliffe out that such suit would prove useless and No funds are available the on Wickliffe Commitported. stockholders and tee, creditors, had adopted asking for the dismissal the Judge Marshall. who took the petition pected to hand down a decision by Thursday

24. January 6, 1932 The Cincinnati Enquirer Cincinnati, OH

Article from The Cincinnati Enquirer, January 6, 1932

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INSOLVENCY IS DENIED By BancoKentucky Corp. Asks Dismissal of Receivership Suit. Wilmington, Del., January filed in the Delaware Chancery Court by the Corporation, of to the reproceedings filed it three ago by group of The includes Frank H. Lanham and Don Roger, of In denying insolvency the corporation asked that the suit be dismissed as similar suit was dismissed by the Court about six months ago, because had not been proved that the company was insolvent at the time the first suit filed in December, 1930. The complainants in the new bill alleged that the is now insolvent because is unable to meet 100 per cent made against the company by the receiver of the National Bank of Kentucky and the Louisville Trust Company The admitted the receiver of the closed had made ments against BancoKentucky, but denied the liability exists. It denied that owns $3,760,000 par value in the National Bank of and it is also denied that owns par value stock of the Louisville Trust ComBanco, Kentucky declared the swer is the holder of trust certificates issued by who hold stock in the National Bank of Kentucky and Louisville Trust Company and that its interest was solely beneficial one, and denied the company had any legal title to any shares the closed banks. It is also declared that the company cannot be assessed by the bank receiver, as under the terms of the trust agreement the company has no liability.