Danbury National Bank (Danbury, CT)

View Charter #943 on SPMC View balance sheet

Episode Information

Episode UID
94301464
Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
9430 national
Charter Number
943
Start Date
December 8, 1921
Location
Danbury, Connecticut (41.395, -73.454)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e9f0e3be5401a7c1

Response Measures

None

Description

1933 piece ties a suspension to the March banking moratorium and a federal conservator/embezzlement; 1921 items show the bank acting as receiver for a local company.

Events (4)
1. March 28, 1865 Chartered
Source
historical_nic
2. December 8, 1921 Other
Newspaper Excerpt
Judge Frank D. Haines appointed the Danbury National Bank receiver of the Von Gal Hat Co., of this city.
Source
newspapers
3. March 6, 1933 Suspension
Cause
Government Action
Cause Details
Did not open immediately after the March 1933 banking moratorium; federal conservator appointed amid discovery of embezzlement by bank cashier.
Newspaper Excerpt
The Danbury National was one of the few in the state which did not open immediately after the banking moratorium was lifted. A federal conservator was named, and reorganization followed.
Source
newspapers
4. * Reopening
Newspaper Excerpt
The bank was reorganised.
Source
newspapers

Newspaper Articles (3)
1. December 8, 1921 New Britain Herald New Britain, CT
Article from New Britain Herald, December 8, 1921

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Article Text

BANK IS RECEIVER Danbury Institution To Take Charge Of Affairs of Von Gal Hat Co. Danbury, Dec. 8.-In the superior court in Bridgeport yesterday Judge Frank D. Haines appointed the Danbury National Bank receiver of the Von Gal Hat Co., of this city. This is said to be the first time in this county and perhaps in Connecticut that a national bank has been made receiver of a manufacturing concern. High costs of material and the great decline in prices following the war are said to be responsible for the hat company's difficulties. It is expected to continue the business with practically no interruption, as the concern has many orders upon its books. The factory employs about 300 operatives

2. December 9, 1921 Norwich Bulletin Norwich, CT
Article from Norwich Bulletin, December 9, 1921

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Article Text

In the superior court in Bridgeport Judge Frank D: Haines appointed the Danbury National bank receiver of the von Cal Hat company of Danbury. -

3. June 28, 1933 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, June 28, 1933

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Article Text

DANBURY BANK CASHIER MADE PLEA OF GUILTY Hartford, Conn, June 28-(UP) -Fred C. Brown. former town treasurer and cashier of the Danbury National Bank, today was under a suspended sentence of a year and a day in Lewisburg, Pa., prison, following his plea of guiltv to a charge of embezzlement. He also was ordered to pay a fine of $500 and was placed on probation for two years. Brown entered his plea in federal court here after a true bill was returned against him. He and John McCarthy. former president of the bank. were arrested last spring after the bank was reorganised. The Danbury National was one of the few in the state which Cid not open immediately after the banking moratorium was lifted. A federal conservator was named, and reorganization followed. Brown was charged with embezzlement on two counts. On one he allegedly misrepresented funds amounting to $216,000. The other covered an alleged illegal entry on the books in eference to the $216,000.