799. Valley Bank (Fresno, CA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 27, 1927
Location
Fresno, California (36.748, -119.772)

Metadata

Model
gpt-5-mini
Short Digest
b70a919c

Response Measures

None

Description

Articles (Dec 27, 1927 and early Jan 1928) report the Valley Bank of Fresno as 'defunct' and a receiver (George S. Smith) was named by the San Francisco Superior Court; receiver is filing suits to collect assets. No article describes a depositor run; the bank is closed and in receivership, so categorized as a suspension followed by permanent closure (receiver).

Events (6)
1. December 27, 1927 Receivership
Newspaper Excerpt
GEORGE SMITH NAMED RECEIVER FOR VALLEY BANK ... George Smith, local insurance appointed permanent ... named receiver of the defunct Valley Bank this city Smith ... was named temporary receiver. Smith's appointment was made by the San Francisco Superior Court ... have charge collection of Valley Bank paper turned back ... after expiration of liquidation period . . .
Source
newspapers
2. December 27, 1927 Suspension
Cause
Government Action
Cause Details
San Francisco Superior Court appointed a receiver for the defunct Valley Bank, effectively closing it and placing it in receivership
Newspaper Excerpt
RECEIVER NAMED FOR VALLEY BANK ... Fresno Dec. 27 ... George Smith of Fresno receiver of the defunct Valley Bank
Source
newspapers
3. January 3, 1928 Other
Newspaper Excerpt
BANK RECEIVER FILING SUITS ... Bank Stockholders Have 'Paper' Assets Of $1,066,000 ... George ... plans ... file collect alleged ... among the assets of the ... Smith ... collection ... holders of the Valley Bank ... Smith recently appointed ... large number of collection suits filed to protect Valley Bank stockholders . . .
Source
newspapers
4. January 4, 1928 Other
Newspaper Excerpt
Six More Suits On Small Notes Filed By Valley Bank Receiver ... Six more suits, on small notes, were filed ... in the attempt of stockholders of the Valley bank to collect unsecured notes under the receivership ... George S. Smith was recently named receiver
Source
newspapers
5. January 5, 1928 Other
Newspaper Excerpt
Two Suits Are Filed By Bank Receiver ... As receiver of the unliquidated assets of the Valley bank George S. Smith yesterday filed two suits ...
Source
newspapers
6. January 6, 1928 Other
Newspaper Excerpt
Bank Receiver Sues On Notes For $4700 ... Suit ... was filed ... George Smith receiver of unliquidated assets of the bank
Source
newspapers

Newspaper Articles (7)
1. December 27, 1927 The Fresno Bee Fresno, CA
Article from The Fresno Bee, December 27, 1927

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Article Text

GEORGE SMITH NAMED RECEIVER FOR VALLEY BANK Fresno Man Takes Charge To Collect Paper Given To Stockholders George Smith, local insurance appointed permanent for Valley with full file renew the sary steps collect worth notes for stockholders the defunct tution. This announced to-day following Judge Frank of Department of the Superior Court Francisco. Bond filed the county clerk San FranCounty last Friday the time the Valley Bank the paid capital Holders this stock the colmade The amount collected with stockholders sufficient amount accumulated, Smith said. Cherer Smith Sherer, Angeles pointed temporary receiver court Trust Bank and Bank offered return Valley Bank of Valley Bank paper. This and represented remainder of the Valley Bank's after liquidation period the takeof Valley Bank. in the Mrs. Maude the Valley Bank against the after had been courts for nearly three years. addition paper and deposited the the the Bank Italy agreed the plaintiffs in the action According the paper returned the Valley Bank stockholders has face equal capital the Valley the the take-over March. 1924. stockholders last Spring but acceptance held up pending ciston In the pending litigation. he plans file collect the Some the suits filed protect Valley Bank stockholders from operation of the statute of limitations.

2. December 28, 1927 The Los Angeles Times Los Angeles, CA
Article from The Los Angeles Times, December 28, 1927

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Article Text

VERDICT UPHELD SHIP FLEET AGAINSTBANKER MAY GO TO TWO LINES Conviction of Mitchell and Two Others Approved Fresno Group Found Guilty in Stock Sale Scheme Valley Bank Receiver Named by Bay City Court SAN FRANCISCO, Dec. 27. Conviction of W. D. Mitchell, former president of the Valley Bank in Fresno, J. M. Bruere and E. Whiting for fraud in with was upheld here today by the United States Circuit Court. Thirty-five hundred acres of timber land in Sonoma county was the basis the stock issue. Attorneys for Mitchell, Bruere and Whiting had asserted error and cited 106 points. In affirming the conviction the Apellate Court found there was no error and declared that "dragnet assignment of error" should have been filed. Mitchell was sentenced to fifteen months Leavenworth prison fined $1000; Bruere's penalty was $2000 fine, and Whiting was sentenced to six months in the County Jail and fined $2250. Charles Virden, another fined $1000 He paid the fine and did not appeal Use the mails fraudulent enterprise was charged against the defendants, who convicted the United States Court at Fresno. RECEIVER NAMED FOR VALLEY BANK FRESNO Dec. 27. made here today of the George Fresno receiver of the defunct Valley Bank this city Smith Edward Angeles attorney. who was named temporary receiver. Smith's appointment was made by the San Francisco Superior Court the bank properties, have charge collection of in Valley Bank paper turned back to the the Pacific Trust and ings Bank and Bank Italy after expiration of liquidation period. Board Expected to Act Today on Plan to Divide Operation of Vessels WASHINGTON, Dec 27. (/P)-The nineteen ships of the government owned line will be divided between the Dollar line and Sudden & for temporary If the Shipping the Merchant Fleet Corporation. The meets and probably will take action then. The contract for operation of the line was taken from Swayne Hoyt of San Francisco ago an investigation by the DepartJustice loan made by of Hill South Dakota, former board com missioner U. Gendron, an official of the Corporation. is San ready to sign con. the soon as the Shipping Board approves them. The divided operation will continue until the ships sold. The operates out of San Francisco and oriental and BritIndian points.

3. December 28, 1927 Woodland Daily Democrat Woodland, CA
Article from Woodland Daily Democrat, December 28, 1927

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Article Text

DEATHS RECORDED FOR CREW WASHINGTON-The navy department completed the records of the crew of the S-4 by recording the deaths of all on board. At the same time Secretary Wilbur sent a message of condolence-to the kin of each man. KIDNAPED TEACHER FOUND of a search in Iowa and Missouri for 24 hours, Pauline Thompson, 20-year-old Unionville, Mo., school teacher, was found; and her kidnaper suitor, Joey Reynolds, 22, was arrested and taken to jail at Northwood. SCORE HEARST AGENT curer of the Mexican documents published in Hearst newspapers, was described to the senate investigating committee as a. "notorious purveyor of documents," by Frank Y. McLaughlin, civil engineer of Mexico City. BANK RECEIVER NAMED of the appointment of George S. Smith; Fresno business man, as receiver of the defunct Valley bank of this city. Smith succeeds Edward Sherer. MAJOR MARTIN HURT HICKSVILLE. Y.-Major Frederick L. Martin, commander of the U. S. army around-the-world flight in 1924, and a companion escaped with cuts and bruises when a plane piloted by Martin crashed in an attempt to land in a ploughed field.

4. January 3, 1928 The Fresno Bee Fresno, CA
Article from The Fresno Bee, January 3, 1928

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Article Text

BANK RECEIVER FILING SUITS Bank Stockholders Have 'Paper' Assets Of $1,066,000 series of the Valley Bank George for the former persons, collect alleged be to the paper among the assets of the The in the which by Walton attorney for Smith, and the alleged to due the are: Peppke, $680, and E. Archer. $296.44 The In Other Paper the the holders of the Valley Bank by the the period following of Smith. recently appointlarge number of collection

5. January 4, 1928 The Fresno Morning Republican Fresno, CA
Article from The Fresno Morning Republican, January 4, 1928

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Article Text

Six More Suits On Small Notes Filed By Valley Bank Receiver Six more suits, on small notes, were filed in superior court yesterday in the attempt of stockholders of the Valley bank to collect unsecured notes under the receivership of unliquidated assets of which George S. Smith was recently named receiver Smith is represented by Attorney Strother Walton, the suit being against Sunderman, $1,154. and $150 attorney fees Peter Leppke, $680. and $125 at torney fees; and Mary E. Archer, $296, and $100 attorney fees Other suits by Smith later in the day were against M. Ibara, $1,186 Mosekian, $3,000.

6. January 5, 1928 The Fresno Morning Republican Fresno, CA
Article from The Fresno Morning Republican, January 5, 1928

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Article Text

Two Suits Are Filed By Bank Receiver As receiver of the unliquidated assets of the Valley bank George S. Smith yesterday filed two suits superior court to collect unsecured notes The suits are in addition to five others filed in superior court the day prior The latest suits seek 000 from W. H. Warren and $3,075 from W. Freeman, both on notes not cured

7. January 6, 1928 The Fresno Morning Republican Fresno, CA
Article from The Fresno Morning Republican, January 6, 1928

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Article Text

Bank Receiver Sues On Notes For $4700 Suit for against M Elliget was filed court George Smith receiver of unliquidated assets of the bank The notes are according the receiver Valley bank's filed many other such in the past two weeks.