Long Beach National Bank - Long Beach, CA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 8510
Charter Number: 8510
Start Date: August 1, 1932*
Location: Long Beach, California (33.767, -118.189)

Metadata

Model: gpt-5-mini
Short Digest: 07145efe

Response Measures

None

Description

Article (1932-10-07) lists Long Beach National as '(receiver)' in a Reconstruction Finance Corporation loans list covering August; indicates the bank was closed and a receiver assigned. OCR truncates the dollar amount. No mention of a depositor run; closure appears to be via receivership.

Events (3)

1. January 10, 1907 Chartered

Source: historical_nic

2. July 21, 1924 Voluntary Liquidation

Source: historical_nic

3. August 1, 1932* Suspension

Cause: Government Action
Cause Details: Listed as in receivership and included among institutions for RFC aid for reorganization or liquidation of closed banks; receiver assigned (government action). (Article lists bank as 'National (receiver)')
Newspaper Excerpt: Long Beach. National (receiver). $165,
Source: newspapers

Newspaper Articles (1)

1. October 7, 1932 The Sacramento Bee Sacramento, CA

Article from The Sacramento Bee, October 7, 1932

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Article Text

RECONSTRUCTION LOANS IN AUGUST ARE MADE PUBLIC Total Of $186,209,310 Borrowed From Finance Corporation In Month The Reconstruction Corporation report for August made public to-day by South Trimble, clerk of the house of representatives. showed loans totalling $186,209,310 authorized during that month. The report was given out over the objections of Atlee Pomerene, chairman of the reconstruction board. said loans authorized to financial institutions, including insurance companies and railroads, totaled Loans authorized to governors of states for relief purposes amounted to $13,931,669. while $15,000,000 was authorized for the Stabilization Corporation and $35,000,000 to the American Cotton Co-operative Association. No part of the latter two had been dis bursed up to September 21st. Denies Choice. Pomerene had contended in formal that the publicity provision of the Garner Wagner relief act did not give Trimble authority make the monthly report on loans public. Trimble released the July report in August, holding that he had no discretion under the law to otherwise States to which relief loans were authorized in August at 3 per cent interest Alabama, $225,000; Illinois, $6.000,000; Louisiana, $1,096,084: Mich000; Ohio, $768,000 and $842,585; South Dakota $150,000. and Wiscon$3,000,000. showed that a total of $5,552 authorized to banks and trust companies during the last ten days of July covered the previous report was cancelled. Other Cancellations. Other authorized loans to financial institutions cancelled between August and September 21st. totaled $1,224,264 This included $240,000 cancelled by the State Life Insurance Company of Indianapolis. Application for loans received during August numbered 1,151, with repayments in the month totaling to bank and trust companies included $39,290,150 to aid in reorganization or liquidation of closed banks. Aid Seen In Publicity Trimble to-day said the statement of his counsel "contains all have to say on the matter.' It said that: "The publication of the Reconstruction Finance Corporation re- If You Hear Hard Luck Call Police Story, Before Starting Cry man comes you, his name as George gives Martin and appeals for finan to help him cial assistance bring his family back from St. Louis, telephone the police. This warning was issued today by Chief Police W. M. Hallanan after he received several reports that man giving that name was "workthe city. Hallanan said he believed the man is an imposter, but, at any rate, he is sought for questioning. "Martin" is described as 35 years old, feet inches tall, weight 150 wearing blue gray suit and a gray fedora hat. port furnishes the depositors the additional information that their bank adequate security to meet all governmental requirements to obtain loan. "That this assurance to the depositors is of great value is recognized by many banks in deliberately giving publicity to the fact that they have obtained loan from the Reconstruction Finance Corporation. "The publication of July report of the Reconstruction Finance Corporation, during the month of August did not have the bad effect upon the banks as predicted by the opponents of the provision. "This is shown by the greatly decreased number bank suspensions that have since the report was published. Loans Listed. Loans included in the following to banks in California Alturas, Modoc County Bank, $30,000 Alturas. Modoc County Bank, $15,000 Anaheim, Anaheim Peoples Savings, $42,000; Coachella, First National. $20,000 Cucamonga, First National, $10,000: Folsom, Bank of Folsom. $27,500; Glendale, First National $75,000 Hermosa Beach, First National Bank $10,000; Hermosa Beach, First Bank of Hermosa Beach, $8,tional, Farmers & Merchants, $30,000 Lindsay Lindsay $75,000 Long Beach. National (receiver). $165,$15,000; Monterey, First National, Newport Beach First National zens $225,000 Pacific Grove, First National. $25,000: Salinas, Monterey County, $130,000; Santa Ana, Farmers & Merchants, $84,000; Soquel, Citizens Commertional, $13,000; Vacaville, First National, $20,000.