8352. Commercial Savings Bank (Baltimore, MD)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
February 26, 1933
Location
Baltimore, Maryland (39.290, -76.612)

Metadata

Model
gpt-5-mini
Short Digest
94f892c8

Response Measures

None

Description

Articles (Feb–Mar 1933) state that John Ghingher was appointed receiver of the Commercial Savings Bank and that receivers of four Baltimore banks (including Commercial Savings) are litigating priorities under the Emergency Banking Law. No article describes a depositor run; the bank is in receivership (closed) — classify as suspension leading to closure/receivership. Date of appointment reported in The Baltimore Sun on 1933-02-26. 'State' chosen for bank_type because it is a savings bank (likely state-chartered); if uncertain, could be 'unknown'.

Events (2)

1. February 26, 1933 Receivership
Newspaper Excerpt
Ghingher, newly appointed Bank Commissioner, receiver ... naming Ghingher receiver of the Commercial Savings Bank was signed Judge Arthur Stump the Circuit Court, Judge Charles Stein appointed him receiver the Park Bank.
Source
newspapers
2. February 26, 1933 Suspension
Cause
Government Action
Cause Details
Court action: judge signed order appointing John Ghingher as receiver, placing the bank in receivership/closure
Newspaper Excerpt
naming Ghingher receiver of the Commercial Savings Bank was signed Judge Arthur Stump the Circuit Court
Source
newspapers

Newspaper Articles (2)

Article from The Baltimore Sun, February 26, 1933

Click image to open full size in new tab

Article Text

DEPOSITORS INJURIES WORSE SHE THOUGHT Orders Distribution Of $400,000 From Chesapeake Assets The receiver of the Chesapeake Bank has verbally ten per cent. distribution depositors, the payment of of the funds collected under the receivership the institution, was announced terday. Formal orders authorizing the ond distribution are expected signed this week Judge Eugene Circuit Court No. after arrangements for audit by Julian Jones, court auditor, have been com- pleted. Awaits Report On Cost Judge wanted exactly what the audit cost before signing the and that he wanted the to be low Cost of the accounting has estimated $5,000. The to be made is not expected to final one, was receiver will have $100,000 remaining his hands. ultimate percentage be paid creditors has not been determined. Although slightly larger distribution would be possible at this time, explained that the ten per cent. payment would simplify and reduce the cost the distribution. Officials estimated that the preparation of checks for mailing would require sixty days. The will bring the total amount paid creditors the Chesapeake Bank, including depositto 32.5 per cent., payment 22.5 per cent. having been made December 1931. The bank closed cember Ghingher Named Receiver An Ghingher, newly appointed Bank Commissioner, receiver of Chesapeake Bank and the Title Trust place of Page, former resigned because signed yesterday by Judge naming Ghingher receiver of the Commercial Savings Bank was signed Judge Arthur Stump the Circuit Court, Judge Charles Stein appointed him ceiver the Park Bank. Gives Value Of Assets report filed last month by Herattorney for the receiver the Chesapeake Bank, was vealed still was the book value of $290,764.44. the majority of representing the $190.412.04 book value of the main building Paul street In addition, the report showed that the book value stocks and bonds held by the receiver while present market value $229,712. Elizabeth Wilson, 28, Hospital As Result Of Traffic Accident struck by taxicab and taken home apparently not badly injured, Mrs. Elizabeth Wilson, was found be in serious condition yesterday her room 3708 Chestnut avenue. She taken to the Union Memorial Hospital municipal fering from internal injuries. It was said the hospital that she probably would require blood transfusion fore the night was over. Struck On Park Avenue Mrs. the home of Mr. Cohen. about Mrs. Cohen found Mrs Wilson suffering intense pain. According to Capt. Frank Gatch, the Northern district he and the Cohens were told by Mrs. Wilson that the accident occurred Park on avenue Lexington street. Doesn't Know Driver's Name When she was knocked down, Gatch said told. the driver the taxicab immediately got asked Mrs. Wilson she badly injured. She told the driver and placed her in the took her home. Neighbors said they saw her arrive the taxicab, not badly jured. Mrs. Wilson had been about an hour, she said, gan suffer She pain. she did not know name of the driver of the car which struck her.


Article from The Evening Sun, March 16, 1933

Click image to open full size in new tab

Article Text

RECKORD SAYS CUT BANK RECEIVERS SEEK WON'T THIN RANKS TO KEEP PREFERENCE No Members Of State Guard Have Resigned And He Expects None Will [Continued From Page 30] and unquestionably suffered diseases from that source after the armistice. "I was commissioned a short time before the armistice and was kept in the service until June. 1919 couldn't get ou t.I was in my fortyninth year. And having been accustomed to quiet pursuit of real estate all my life I came away from Fort McHenry in a state of complete ex- "Disabled Since 1921" "I have been totally disabled ever since 1921. I hadn't been out of uniform but a little over three weeks when I suffered a nervous breakdown and I have been under doctor's care almost ever since. If my pensation and my insurance were cut off I'd be absolutely dependent on charity. "I volunteered, I had sold by business and worked for year in the quartermaster department as civilian employe before was commissioned. had three minor children. was told that was too old for actual service in the army. But I wanted to do something." Matter Of Choice Uncertain The question as to whether the emergency economy bill eliminated the alternative of any member of the Maryland National Guard in choosing between remaining in the guard and staying on the Veterans' Administration pay roll was one which General Reckord was unable to answer Readjustments of benefits received by the veterans now rests upon regulations which will be drawn up by President Roosevelt, under the terms of the economy bill. These regulations will have the force of law. Just what the regulations will be is not known yet. 1.100 Officers On Original List The law which provided the retirement of emergency officers with pay was originally designed to take care of 1,100 officers who had received injuries in battle But as the result of ruling by former Attorney-General William D. Mitchell while Solicitor-General about 8,000 officers were granted pay. General Reckord said today that while he was still of the opinion that the economy bill was entirely too drastic, he was in favor of cutting down this list to the original 1.100 battle casualties and would heartily support any regulations issued by the President to that end. Pleas Filed To Intervene Suits Attacking Provision Of Law Seeking to uphold the preferences granted deposits of the receivers of the four Baltimore banks which are in receivership by provisions in Section 71-G of the Emergency Banking Law passed by the Legislature on March 4. attorneys representing the four receiverships today applied for permission to intervene in the pending injunction and mandamus suits attacking the validity of the new law. The action was taken by counsel for the receiver of the Chesapeake Bank, the Park Bank and Title Guarantee and Trust Company and the Commercial Savings Bank. Distribution At Stake The additional ten per cent. distribution to depositors of the Chesapeake scheduled to be made within little more than month, will depend largely upon the priority being upheld the courts, it was stated. While no distribution to depositors of the Park Bank is impending. the validation of the priorities granted by the new law will be necessary, it was said, to enable the receivership to act under recent authorization to pay off the remaining indebtedness of the bank to the Reconstruction Finance Corporation. City Intervenes The first hearings on the validity of the new banking law is expected to take place Saturday before Judge Eugene O'Dunne in the Circuit Court, No. 2. in connection with the injunction suit pending in that court. The suit sought to hold the banking law invalid and to enjoin any preferential payments under the new law by the Baltimore Trust Company. The mandamus suit, which also seeks to have the banking law declared unconstitutional and to prevent preferential payments by any bank under the new law. is pending in the Baltimore City Court, where hearings will be held shortly before Chief Judge Samuel K Dennis. An answer to the mandamus is due to be filed this week by State Bank Commissioner John Ghingher. Prior to the action of Herbert Levy, John E. Semmes, William L. Marbury,