850. Occidental Trust & Savings Bank (Los Angeles, CA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
December 17, 1907
Location
Los Angeles, California (34.052, -118.244)

Metadata

Model
gpt-5-mini
Short Digest
2eadb97d

Response Measures

None

Description

The bank was closed by the bank commissioners (suspension by government action) on December 17 and a receiver was later appointed; subsequent articles describe receivers' dividends — the bank did not reopen. Dates taken from article text and publication dates.

Events (4)
1. December 17, 1907 Suspension
Cause
Government Action
Cause Details
Closed by the bank commissioners on December 17 (official suspension of payments).
Newspaper Excerpt
which was closed by the bank commissioners December 17.
Source
newspapers
2. February 9, 1908 Receivership
Newspaper Excerpt
Nehemiah Blackstock, vice president of the Merchants' Trust company, yesterday was appointed receiver of the Occidental Trust and Savings bank, First and Broadway, which was closed by the bank commissioners December 17.
Source
newspapers
3. July 16, 1908 Other
Newspaper Excerpt
DEPOSITORS OF OCCIDENTAL BANK GET 25 PER CENT Judge Monroe yesterday issued an order directing N. Blackstock, receiver of the Occidental Trust and Savings bank, to pay to the depositors of that defunct institution a dividend of 25 per cent on their claims
Source
newspapers
4. January 1, 1909 Other
Newspaper Excerpt
RECEIVERS FOR BANK WANT TO GIVE DEPOSITORS MONEY H. N. Blackstock and C. H. Blackstock, receivers for the Occidental and West Side banks, filed a petition in the superior court yesterday asking that they be allowed to declare 12½ per cent to depositors of each bank.
Source
newspapers

Newspaper Articles (3)
1. February 9, 1908 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, February 9, 1908

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Article Text

BANKER IS APPOINTED AS RECEIVER FOR TRUST FIRM Vice President of Merchants Company Named to Settle Accounts of Defunct Occidental Savings Bank Nehemiah Blackstock, vice president of the Merchants' Trust company, yesterday was appointed receiver of the Occidental Trust and Savings bank, First and Broadway, which was closed by the bank commissioners December 17. The receiver's bond was fixed at $10,000. The amount due depositors on December 17 was $8048. The company owed banks $5692. It is believed all depositors will be paid in full, the directors having signified an intention to come forward if necessary. The West Side bank, Twenty-third and Hoover streets, which was closed at the same time as the trust company, will wind up its affairs next week.

2. July 16, 1908 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, July 16, 1908

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Article Text

DEPOSITORS OF OCCIDENTAL BANK GET 25 PER CENT Judge Monroe yesterday issued an order directing N. Blackstock, receiver of the Occidental Trust and Savings bank, to pay to the depositors of that defunct institution a dividend of 25 per cent on their claims. This was made possible because of the receiver having collected from the Bank of Southern California $1000 as a compromise on a claim against the latter named institution. The compromise was because of a dispute over the justness of the claim. The total indebtedness of the Occidental Trust and Savings bank, which did b siness at First and Broadway, is estimated at about $8000.

3. January 1, 1909 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, January 1, 1909

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Article Text

RECEIVERS FOR BANK WANT TO GIVE DEPOSITORS MONEY H. N. Blackstock and C. H. Blackstock, receivers for the Occidental and West Side banks, filed a petition in the superior court yesterday asking that they be allowed to declare 12½ per cent to depositors of each bank. The application will be acted upon early in the coming week, it is expected. This will make the third dividend in the case of the West Side bank and the second by the Occidental since their failure.