City Trust & Banking Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 1, 1903*
Location: Baltimore, Maryland (39.290, -76.612)

Metadata

Model: gpt-5-mini
Short Digest: e3da24e1

Response Measures

None

Description

Article reports the City Trust & Banking Co. failed in June, 1903 and has been in receivership since; 1932 item describes a final dividend mailed by receivers. No run is described and the bank remained closed with receivers administering final distributions.

Events (2)

1. June 1, 1903* Suspension

Cause Details: Article does not state the reason for the 1903 failure/suspension; only reports the bank went into receivership in June 1903.
Newspaper Excerpt: the bank failed in June, 1903
Source: newspapers

2. April 15, 1932 Receivership

Newspaper Excerpt: After a wait of nearly 30 years, creditors of the old City Trust & Banking Co. that went into the hands of receivers are about to receive what is believed to be a final dividend.
Source: newspapers

Newspaper Articles (1)

1. April 15, 1932 Evening Star Washington, DC

Article from Evening Star, April 15, 1932

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Article Text

RECEIVERS WILL PAY DIVIDEND TO DEPOSITORS Special Dispatch to The Star. BALTIMORE, April 15.-After a wait of nearly 30 years, creditors of the old City Trust & Banking Co. that went into the hands of receivers are about to receive what is believed to be a final dividend. Some will get as little as 1 cent. It is the fifth dividend since the bank failed in June, 1903, and will bring the total paid depositors and others about 40 per cent of their claims. Most of the depositors of the defunct bank had forgotten they ever had an account there and the dividend notice came as a surprise. George Dobbin Penniman, one of the receivers, said the dividend checks will be mailed in about 10 days and will represent .0067 per cent on $421,287.94 which the bank owed to 2,015 depositors and others. This dividend was made possible by the receivers collecting $2,823.19, mostly from an insurance policy that was not known of at the time the bank failed, said Mr. Penniman. The receivers spent 2 cents for a stamp to send out each notice and will spend an additional 2 cents to mail each check. Thus, said Mr. Penniman, it will cost at least 5 cents to pay 1 cent in many instances.