9549. South Side National Bank (St Louis, MO)

Bank Information

Episode Type
Suspension โ†’ Reopening
Bank Type
national
Bank ID
13264
Charter Number
13264
Start Date
March 1, 1933*
Location
St Louis, Missouri (38.627, -90.198)

Metadata

Model
gpt-5-mini
Short Digest
9218a5a223595f7a

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1933-08-19
Date receivership terminated
1939-09-30
Share of assets assessed as good
28.8%
Share of assets assessed as doubtful
69.3%
Share of assets assessed as worthless
1.9%

Description

The bank was closed after the March 1933 banking moratorium (did not open) and a conservator/receiver was later appointed (Aug 19, 1933). By January 1934 receivers had worked out a reorganization plan contemplating partial release of deposits and reopening under a reorganization/new charter. No article describes a depositor run prior to suspension; cause of suspension is the banking moratorium/government action and subsequent receivership.

Events (6)

1. December 7, 1928 Chartered
Source
historical_nic
2. March 1, 1933* Suspension
Cause
Government Action
Cause Details
Did not open after the March 1933 banking moratorium; closed by legal authority
Newspaper Excerpt
failed to open after the banking moratorium last March
Source
newspapers
3. August 19, 1933 Receivership
Source
historical_nic
4. August 19, 1933 Receivership
Newspaper Excerpt
Edwin Coombs, conservator for South Side National Bank since March banking holiday, had been appointed receiver for the bank, it was announced today.
Source
newspapers
5. January 22, 1934 Other
Newspaper Excerpt
Southside National Bank receivers have worked out an approved reorganization plan which contemplates the release of 100 percent of secured deposits and 50 percent of unsecured deposits.
Source
newspapers
6. January 22, 1934 Reopening
Newspaper Excerpt
it is proposed to reopen the bank under a reorganization plan to give depositors 70 per cent of their original balances and must subscribe 25 per cent of said balance in stock in the Bank.
Source
newspapers

Newspaper Articles (6)

Article from St. Louis Post-Dispatch, August 19, 1933

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Article Text

Edwin S. Coombs, Who Has Been as Conservator Acting Since Holiday, Appointed. Edwin Coombs, conservator for South Side National Bank since March banking holiday, had receiver for the been appointed bank, it was announced today. Joseph Rehme, president of the bank and of Side Bank and Trust Co., which said the change in Coombs' owns status was necessary that he could levy assessment against the owner of all the the South Side National stock, der the double liability provision national bank charters. Plans the reorganization of South Side National and of LafaySouth Side Bank Trust neither of which was permitted to after banking holibeing prepared, Rehme day, are "Though the Lafayette now owns stock of South Side National Bank, yet the banks, when are to be completely arated Rehme said. order to dissolve the relations, the South Side National Bank, through its must assessment on the "This assessment, and the settlement Lafayette, can effected rapidity and finality through the appointment of receiver to the South Side National." The amount of the assessment, Rehme said, has been determined. South Side National is italized which would be the assessment possible. At least two proposed plans of reorganization for the banks have been and then discarded. The second plan abandoned after the Reconstruction Finance Corporation had agreed subscribe for about ferred stock the Lafayette cause the Federal Board ruled national bank could not under the banking be owned by State bank.


Article from Jefferson City Post-Tribune, January 22, 1934

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Article Text

DEPOSITORS U. S. Comptroller Gives Status of Missouri Finincial Institutions; Are Being Reorganized. WASHINGTON, Jan. in deposits tied up National Banks in Missouri that failed to open after banking moratorium last March, all but approximately has been freed depositor use, the comptroller the currency announced today. The status the banks that failed to open: Five banks involving deposits of $22,891,000 have been reopened, habilitated, reorganized under new charters, acceptable assets to another bank. Three banks with $1,543,000 deposits have approved reorganization plans in various stages consummation. They the are Grand tional Bank, Louis; the First tional Bank Webster Groves; and the First National Bank, Lamar. Two banks with deposits of $278,do have approved plans reorganization. They are the First National Bank, Mountain Grove, the First National Bank, Windsor. Three banks with deposits of the hands receivfor liquidation. They are the Cherokee National Bank and the Southside Bank, both Louis, and People' National Bank, Seymour However the Southside National Bank receivers have out an approved organization plan which contemplates the release of 100 percent secured and 50 percent of deposits The five banks that have been reorganized First National Bank, Clayton; Third National Bank, Sedalia; Citizens' National Bank, Maplewood American Ex. change National Bank, St. Louis; and the Fidelity National Bank and Trust Company, Kansas City. Some 300 persons are living on Robinson Crusoe's


Article from St. Joseph News-Press, January 22, 1934

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HUGE SUM RELEASED Over $22,000,000 in Frozen Deposits in Missouri Freed. About $9,000,000 in Closed National Institutions Is Still Unavailable. Jan. deposits tied up tional banks Missouri failed open after the banking moratorium but approximately $9,000,000 has been for depositor the comptroller currency today. The status of the thirteen banks failed open: Five banks involving deposits of have been reopened, habilitated, reorganized under charters, the acceptable assets sold to another bank. Three to Be Reorganized. Three banks with $1,543,000 deposits plans stages consumThey are the Grand National Bank, Louis; the National Bank, Webster the Bank, Lamar. banks deposits of $278,000 not They the First National Bank, Grove, and the First National Bank, Wind- Three Are in Liquidation Three banks with deposits of 707,000 in the for They are the Cherokee National Bank and the Southside National Bank, Both St. Louis, the People's National Bank; the National out organization plan plates the release of 100 per cent secured deposits 50 per unsecured deposits. The five banks have been reorganized First National Bank, Third National Bank, National Bank, Exchange National Bank, Louis, and the Fidelity National Trust Company, Kansas City.


Article from Daily American Republic, January 22, 1934

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DEPOSITS IN CLOSED BANKS BEING RELEASED By The Associated Press. Washington, Jan. 000 in deposits tied up in national banks in Missouri that failed to open after the banking moratorium last March, all but approximately $9,000,000 has been freed for depositor use, the comptroller of the currency announced today. The status of the 13 banks that failto open: Five banks involving deposits of $22,891 have been reopened, rehabilitated, reorganized under new charters ,or the acceptable assets sold to another bank. Three banks with deposits have approved reorganization plans in various stages of consummation. They are the Grand National Bank, St. Louis; the First National Bank, Webster Groves, and the First National Bank, Lamar. Two banks with deposits of $278,000 do not have approved plans of reorganization. They are the First National Bank, Mountain Grove, and the First National Bank, Windsor. Three banks with deposits of $6,are in the hands of receivers for liquidation. They are the Cherokee National Bank and the Southside National Bank, both of St. Louis, and the Peoples' National Bank, Seymour. However, the Southside National Bank receivers have worked out an approved reorganization plan which contemplates the release of 100 per cent of secured deposits and 50 per cent of unsecured deposits.


Article from Jefferson Democrat, January 25, 1934

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READER PRAISES PUBLISHER FOR RECENT ARTICLE Writer of Contributed Article Commends Publisher's Stand On Political Patronage ANENT POLITICAL PATRONAGE Would you permit the use of your valued columns to an humble Demo who wishes defense and commendation of your article appearing in the January 4th issue of The Jefferson Democrat in regard to counprinting? As taxpayer and of efferson county, wish mend you for the fearless, straightand truthful manner in which you handled the subject have been noting for considerable length of time, the very small amount of consideration you and the other local printing firms have been receiving the county's hands, and have wondered in view of the fact, why you have all remained passive and submissive. In an article appearing in recent edition of the Twin City Advocate, entitled "County Printiang,' the writer agreed with the thoughts and principal ideas expressed in your prior article, except that this article stated that, is not much question of party polities, intimated by the publisher of The Jefferson Democrat, it is matter of fairness to those living and doing business in the county, etc., Certainly, printer and publisher not to be blamed for adopting this attitude, where printing orders are concerned. but could not help but think that this particular portion of the Advocate's article was rather typical expression of in county in Democ tie political rank and counsel, as is typical of his manner of expression execution of things political. may he wrong in this and if here and now extend proper apologies to all parties concerned. Certain it that if the local Dempress entitled when the are in power, by reason of the fact that, that press carried on them in fearless manner, when they were the outside, and by reason of the fact that those Democrats who enjoying political positions of trust and power are direct beneficiaries of that Then in all fairness, can press. you conceive of who is entitled to special consideration? If politics were religion, then the manner of disposing of county printing set forth in the Advocate artiwould be exactly correct, but. in. asmuch polities is not eligion, and all know never will be, then their suggested manner of handling the printing orders, for that inatter the handling of political patronage of any character, whether be printing the disposition of political posi tion, exactly to the usual and regular manner of handling polipatronage, and those handling in that manner are guilty of betraying their best, most and staunchest friends, and the strongest ally of the Democratic party, namely: The Democratic Press. The portion of your article with reference to extending patronage cally against its extension to side firms, as relates to the tax untion. extremely meritorious, and should be given the most consideration all taxpayers. No any kind should be ed to outside firms, local which is supporting the county with taxes, could do the contract the same price, at near the same Trusting and hoping that continue your readers and the good turn, by handling public current and future in the name and truthful manner, am with best wishes for the success of the and both national and state. Gratefully yours, An Humble Democrat proved. No estate. January Report of sale of real estate to estate of Richard B. Murrill, dec., filed and ordered continued to Jan. 20th. January 13Inventory and appraiser.ent approvin estates of Silberstein, dec. and Frank Wallach, dec. Claim of Elmer Childers for $7.00 against estate of John O'Donnell, dec., allowed. Report of real estate in of Lamar approvand deed ordered made to property Lena Burgess. Annual settlement of estate Silberstein, dec., approved. Hearing held as sanity of Joseph Thomas Schroeder. Court finds him to be unsound John Schnelder appointed guardian and bond for $100 approved. Inventory and appraisement of of Grant Palmer, dee., approved Fred H. Carter granted letters administration estate of Emma Carter. deceased, and bond for $100 approved. Osear Sullens, Louis Herzog and Frank Schoen appointed witnesses inventory Claims of Fred H. Heiligtag for and Emma Woodson for against estate of Ida Cronacker, dec., allowed. Executrix of estate shows the Court that deceased had on deposit in South Side National Bank of St. Louis, which was closed by legal authority and is still closed. that is proposed to reopen the bank under reorganization plan to give depositors 70 per cent of their inal balances and must subscribe 25 per cent of said balance in stock in the Bank. Receiver of old bank to pay accounts out of cash on hand, and asks for an order authorizing her accept $489.87 in $270.00 stock in bank and certificate of deposit for $325.67. Court orders that she accept the that when the devil to needs must REAL ESTATE TRANSFERS David Campfield and wife, by $500. James H. Reynolds and wife, by trustee to Grant Groom and De Soto, $100. Fanny W. Goode to Charles Hewitt. Survey 1330, part in Louis County, $10,000.00 Mrs. Zilla Mande McDonald and husband to Homer Fes tus and aeres. Surveys 160 and 315. Thomas Howlett. deceased. by ad Sam McKay, 165 acres, See. Twp 39, Range $275.00 Robert Keith and wife to Webb Frances Barnhart and wife to Earl E. Jones and wife, iot in Survey 747. Twp. 42, Range 6, $1 William Radeacker and to Frank Becker and wife, 11 Hill Henry Klahs and to William Robenan and acres, See 24. Twp. Range Edward Welss and to An drew Coyle, Louis Rogers and wife to Rolins and Henderson. 56 25, Twp. 41. Range Price McKinney to Ida acres, Sec. 20, Twp. 42, $1. Patrick H. Rubey and wife to Goo. R. Troop and wife, 100 acres, Sec. 33, Twp. 42, Range and roadway, $1. Riley Hauck and wife to M. Brand and wife. lot and part of lot. De $500 Mrs. Mary 1. Ryan and husband to Oscar Wideman and wife, lots, Do $200. William Weber and wife E. Schulze and wife. 15 acres, Secs. 27 and 34. Twp. 43, Range $1. MARRIAGE LICENSES George Becherer St. Louis Mrs. Ruth Alice Louis Andrew Louis Roberta M. Smith Louis


Article from The Jefferson Republic, January 25, 1934

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PROBATE COURT Claims allowed against estate of Ida E. Mock, decd., to-wit: Charles A. Burns for $210, Dr. J. W. Pickel $10.00, McLaughlin Farmers Home, $475.00 and Lulu Bryer for $244. Claim of Miners and Merchants Bank of Flat River for $1176.77 on two notes against estate of Lena A. Schramm, decd. allowed. Final settlement of estate of Johanna Berner, decd. filed and approved and continued subject to call. Additional bond for $500 filed by executor of estate of Ida E. Mock, decd. Bond approved. Final settlement of estate of John O. Long, decd. approved and administrator discharged. Louis T. Rogers granted letters of administration on estate of Emily Rogers, decd. and bond for $100 approved. No estate. Report of sale of real estate in estate of Richard B. Murrill, decd. filed and continued to Jan. 20. Inventory and appraisement approved in estate of I. F. Silberstein, decd., and Frank J. Wallach, decd. Claim of Elmer Childress for $7 against estate of John O'Donnell, decd. allowed. Report of sale of real estate in estabe of Lamar McKee, decd. approved and deed ordered made to property to Lena Burgess. 1. Annual settlement of estate of I. F. Silberstein, decd. approved. Hearing held as to sanity of Jos. Thomas Schroeder. Court finds him to be of unsound mind. John Schneider appointed guardian and bond for $100 approved. Inventory and appraisement of estate of Grant Palmer, decd. approved. Fred H. Carter granted letters of administration on estate of Emma L. Carter, decd. and bond for $100 approved. Oscar Sullens, Louis Herzog and Frank Schoen appointed witnesses to inventory. Claims of Fred H. Heiligtag for $400 and Emma M. Woodson for $40.50 against estalte of Ida Cronacher, decd., allowed. Executrix of estate shows the court that deceased had $1085.54 on deposit in South Side National Bank of St. Louis, which was closed by legal authority and is still closed, that it is proposed to reopen the bank under a reorganization plan to give depositors 70 per cent of their original balances, and must subscribe 25 per cent of said balances in stock in the bank. Receiver of old bank to pay accounts out of cash on hand and asks for an order authorizing her to accept $489.87 in cash, $270.00 in stock in the bank and certificate of deposit for $325.67. Court orders that she accept the settlement, recognizing that needs must when the devil