gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
bda73e4023009993
Response Measures
None
Description
Directors voluntarily suspended operations July 14, 1932; receiver was appointed and the bank remained in liquidation.
Events (5)
1.July 14, 1932Receivership
Newspaper Excerpt
W. M. Taylor, bank examiner, is in charge of the institution. / went into the hands of the controller of the currency July 14 when its directors decided to suspend operations as a precautionary measure.
Source
newspapers
2.July 14, 1932Suspension
Cause
Local Banks
Cause Details
Directors suspended voluntarily as a precaution following recent closings of several local banking institutions.
Newspaper Excerpt
The Departmental Bank, 1726 Pennsylvania Ave., has suspended operations... 'This action was wholly voluntary on the part of the bank, and was taken purely as a precautionary measure, in view of the recent closing of several local banking concerns.'
Source
newspapers
3.August 11, 1932Other
Newspaper Excerpt
The Departmental Bank... which went into the hands of a receiver several weeks ago, has established regular business hours in which to receive payments on notes. W. B. Allman, receiver in charge, said today the bank will be open from 8:30 a.m. to 5 p.m....
Source
newspapers
4.February 10, 1933Other
Newspaper Excerpt
Depositors in two of the four Washington banks closed July ... Departmental 30 Per Cent (distribution of dividends to depositors as part of liquidation).
Source
newspapers
5.October 6, 1940Other
Newspaper Excerpt
Departmental Bank To Pay Final Dividend ... the seventh and final dividend... beginning tomorrow morning... Including the last dividend, the depositors will have received a total of 91.4 per cent of the money they had in the bank at the time it closed July 14, 1932.
Source
newspapers
Newspaper Articles (22)
1.July 15, 1932Times HeraldWashington, DC
Article Text
The Departmental 1726 Pennsylvania Ave., has suspended operations, bringing the total to four local institutions which have closed their doors in two days. Notice of the Departmental Bank's given by the board of directors in a statement, which said: "This action was wholly voluntary on the part bank, and was taken purely precautionary measure, in view of the recent closing of several local banking W. M. Taylor, bank examiner, is in charge the institution. The North Capitol Savings Bank, the International Exchange Bank closed yesterday, and the Bank of Brightwood. Wednesday.
2.July 15, 1932The Washington TimesWashington, DC
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Article Text
DEPARTMENTAL BANK CLOSED The Departmental Bank, 1726 Pennsylvania Ave., has suspended operations, bringing the total to four local institutions which have closed their doors in two days. Notice of the Departmental Bank's suspension was given by the board of directors in a statement, which said: "This action was wholly voluntary on the part of the bank, and was taken purely as a precautionary measure, in view of the recent closing of several local banking concerns." W. M. Taylor, bank examiner, is in charge of the institution. The North Capitol Savings Bank, the International Exchange Bank closed yesterday, and the Bank of Brightwood, Wednesday.
3.August 11, 1932Evening StarWashington, DC
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Article Text
DEPARTMENTAL BANK SETS BUSINESS HOURS W. B. Allman, Receiver, Announces Institution Will Be Open to Receive Payments. The Departmental Bank, 1726 Pennsylvania avenue, which went into the hands of a receiver several weeks ago, has established regular business hours in which to receive payments on notes. W. B. Allman, receiver in charge, said today the bank will be open from 8:30 a.m. to 5 p.m. daily, except Saturday and Monday. On Saturday the
4.August 30, 1932Evening StarWashington, DC
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Article Text
NEW BANKING HOURS Departmental to Remain Open Pay Day Nights. The receivers for the Departmental Bank announced today the bank would remain open until 8 p.m. each Government pay day to receive payments on notes. Heretofore, since the receivership began, the bank, which remains open from 8:30 a.m. to 5 p.m. each day during the week, has made Monday night the "late night," but it was decided to change this to the night of each Government pay day.
5.September 21, 1932Evening StarWashington, DC
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Article Text
DEPARTMENTAL BANK TO OPEN FOR CLAIMS For Three Months, Beginning Friday, Depositors May File Bills. The Departmental Bank, 1726 Pennsylvania avenue, which closed July 14, will be opened at 8:30 a.m. Friday to enable depositors to file bills of claim, W. B. Allman, receiver for the bank, announced yesterday. The institution will close at 9 p.m. The same hours will be observed on Saturday. For three months, beginning Friday. depositors may file claims. On week days the hours will be 8:30 a.m. to 5 p.m., and on Saturdays, 9 to 1. The bank went into the hands of the controller of the currency July 14 when its directors decided to suspend operations as a precautionary measure.
6.September 23, 1932Evening StarWashington, DC
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Article Text
DEPOSITORS FILE CLAIMS AT DEPARTMENTAL BANK Institute, Closed Since July 14, Opens Today With 100 Persons in Line. Opening for depositors to file bills of claim, the Departmental Bank, which closed July 14, today was handling hundreds of depositors. The bank opened at 8:30 a.m. with a line of more than 100 persons waiting to file their claims, and throughout the day clerks were busy taking care of depositors. It will remain open until 9 p.m. and have the same hours tomorrow. Depositors have three months in which to file claims and after this week end the bank hours will be from 8:30 until 5 on every day but Saturday, when the hours will be from 8:30 until 1. it was announced by W. B. Allman, receiver of the bank.
7.February 10, 1933The Washington HeraldWashington, DC
Article Text
HERE
Brightwood Will Distribute 20 Per Cent to Depositors; Departmental 30 Per Cent
By RICHARD HATTON
Depositors in two of the four Washington banks closed July order the Comptroller of the Currency able to their "dividend" checks today, according information given out by the Comptroller's of fice. The which have been in charge of receivers are the Bank of and the Departmental Bank About 7,500 depositors in the two banks will benefit the disbursement which will about PAYMENT AT BANKS According to office of the Comptroller the "dividend" be paid by the Departmental Bank will amount to 30 cent. while the disbursement by the Bank of Brightwood will be 20 per cent. Holders of claims against these banks must present their ceivers at the time payment made. that depositors will have to call the banks for their checks. Claude Woodward, the Bank of Brightwood. stated that institution would open at 8:30 today, tomorrow and Monday and remain open until days for convenience of those will receive their the Departmental Bank. Receiver B Allman stated that the bank would open at to day, and Saturday and remain open until and that next week the bank would be open for payments from 8:30 until Neither of the institutions had received loans from the Reconstruction Finance Corporation as had the other closed Washington banks. the International Exchange and the North Capitol of condition of the Bank of issued few days Receiver Woodward gave total assets accounted for as with total liabilities accounted for of Total collections from assets were reported as this figure added from stock assessment This stock assessment was made necesary, reported. because the deficiency was determined to be excess of the capital the bank. The receiver has collected cash Cash in the hands of the receiver and Comp troller amounts Secured and preferred liabilities paid amount Advances for protection assets. amount to and penses of receivership ported as Receiver Allman of the Departmental. and Claude H. Woodward. of the Brightwood in stitution. additional payments will be made soon assets are liquidated and claims proven.
8.February 10, 1933Evening StarWashington, DC
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Article Text
TWO MORE BANKS TO PAY DEPOSITORS Departmental and Brightwood Institutions Paying Out $375,000. While depositors crowded into two suspended Washington banks today to collect the first payment on their claims. Acting Controller of the Currency F. G. Awalt announced two other defunct local banks would issue payments as soon as money in hand permits. The Departmental Bank, 1726 Pennsylvania avenue, and the Bank of Brightwood, Georgia and Colorado avenues, are paying approximately 7,500 depositors a total of $375,000. Two Other Institutions. The International Exchange Bank, Fifth and H streets, and the North Capitol Savings Bank, at H and North Capitol streets, are the two institutions which Awalt said would make an initial payment on approved claims as soon as enough money is collected. All four banks closed last July. The doors of both the Departmental and Brightwood banks were opened this morning at 8:30 o'clock to distribute checks to depositors. Approximately $220,000 is being paid to 3,444 depositors in the Departmental Bank, while the Brightwood institution is distributing checks totaling $155,000 to about 4,000. To Be Open at Night. To expedite distribution of the money, the Departmental Bank will remain open tonight and tomorrow night until 9 o'clock, resuming the regular hours of from 8:30 to 5 beginning Monday. The Bank of Brightwood will be open until 5 o'clock tonight and all day tomorrow until 5. A steady line of men and women filed into both banks throughout this morning, able to draw money for the first time since the institutions closed last July. At the Departmental depositors were being paid 30 per cent of their claims, while at Brightwood 20 per cent was being paid. Additional payments will be made by both banks as liquidation progresses and cash in hand permits, it was said by officials.
9.February 10, 1933The Washington TimesWashington, DC
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Article Text
RECEIVERS PAY BANK TOLLS Claude H. Woodward and W. B. Allman, receivers, respectively, for the Bank of Brightwood and the Departmental Bank, closed last July by the Comptroller of the Currency, today began paying the first dividend of about $375,000 to the 7,500 depositors. Bank of Brightwood depositors will receive 20 per cent and Departmental Bank depositors will receive 30 per cent of their approved claims in this installment. Depositors must have their receiver certificates in person at the time of payment. The Bank of Brightwood will be open today until 5 p. m. and tomorrow and Monday from 8:30 a. m. until 5 p. m. The Departmental Bank will be open until 9 p. m. today and tomorrow and from 8:30 to 5 p. m. next week. Further payments will be made from time to time, as the receivers realize on assets.
10.April 29, 1933The Washington TimesWashington, DC
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Article Text
FREES PLAN $285,000 TO LOCAL PATRONS Departmental and North Capitol Ready to Release "Frozen" Accounts Dividends amounting to $285,000 will be paid out Monday by the Departmental Bank and the North Capitol Savings Bank, both closed institutions. The Departmental Bank will pay its second dividend. This time the amount will be $160,000 or about 20 per cent, W. B. Allman, receiver stated. The North Capitol Savings Bank will pay its first dividend of $125,000. To Stay Open Late The Departmental Bank. Allman said,will be open for the convenience of Government workers from 8:30 a. m. to 9 p. m., Monday, Tuesday and Wednesday. Persons unable to call at the bank these days will be able to collect their checks during the regular business hours. About 4.000 checks will be paid out, Allman said. The second dividend payment brings the total paid back to depositors to about $400,000. When the bank suspended the book value of assets was $1,100,000. Payment of the first dividends to of the depositors closed North Capitol Savings Bank, amounting to $125,000, or 12 1/2 per cent, are to be made beginning Monday at 9 a. m.. John S. Ryan, receiver, announced today. 6,000 Checks Ready Six thousand checks are ready for distribution to depostiors of the bank, which closed its dcors last July 14. Regular banking hours are to be observed and only those persons living out of the city will be able to get their dividend checks by mail. All others will be required to call at the bank and sign receipts for the money, Ryan said. As added funds are accumulated from liquidation of the bank's assets further dividends will be declared when the sums have reached sufficient size, he said.
11.May 3, 1933The Washington TimesWashington, DC
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DIVIDEND LINES THIN AT BANKS Distribution of "dividend" checks to depositors of the Departmental and the North Capitol Savings banks, both of which closed their doors last July, continued today, but with fewer demands. At the North Capitol, 1,100 checks were given out yesterday by John S. Bryan, receiver. There were 1,000 distributed Monday. At the Departmental, which will remain open until 9 p. m. again today, 800 depositors were accommodated yesterday while 1,000 were served Monday.
12.June 15, 1933Evening StarWashington, DC
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DEPARTMENTAL BANK TO PAY THIRD TIME 15 Per Cent Dividend Will Make 65 Per Cent Total Paid Depositors Since Closing. The Departmental Savings Bank, 1726 Pennsylvania avenue, which closed 11 months ago yesterday, will pay a third dividend of 15 per cent on Saturday, W. B. Allman, receiver for the institution, announced yesterday. Previously the bank paid two other dividends totaling 50 per cent of deposits. The bank will be open from 8:30 a.m. to 9 p.m. on Saturday. For the benefit of Government workers these hours will be repeated on Monday and Tuesday. After that the regular banking hours will be observed. Depositors must bring their receiver's certificates to obtain the dividend.
13.January 19, 1934Evening StarWashington, DC
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DEPARTMENTAL BANK WILL PAY DIVIDEND Depositors Next Wednesday Will Get 5 Per Cent of Funds Tied Up. The Departmental Savings Bank, Seventeenth street and Pennsylvania avenue, will pay a fourth dividend to depositors next Wednesday, W. B. Allman, receiver, announced today. The dividend will amount to approximately $40,000, or 5 per cent of the funds tied up when the bank closed about 18 months ago. Depositors must present their receivers' certificates to obtain the dividend. The bank will be open from 9 a.m. to 9 p.m. Wednesday, Thursday, Friday and Saturday. In the first three dividends, depositors received about $540,000, or 70 per cent of the bank's deposits.
14.January 24, 1934The Washington TimesWashington, DC
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Departmental Bank Pays Fourth Dividend As the Departmental Bank began paying out its fourth dividend this morning, W. B. Allman, receiver, warned depositors that they must present receiver's certificates at the teller's windows before they can receive their comptroller's checks. All windows of the bank will be open today until 5:30 p. m. and will continue so through Saturday for convenience of Government employes.
15.April 28, 1934Evening starWashington, DC
Article Text
BANK RECEIVER TO MOVE
Moran to Take Departmental Assets to New Quarters.
John Moran. recently appointed the Departmental Bank. succeeding Allman, announced today that the assets the bank moved and Kenyon next Tuesday Mr. Moran the receiver in charge the Savings Bank, and took Bank ship addition to his duties. The present Departmental Bank, 1726 will the building will sold as soon as possible, Mr. Moran said.
16.August 3, 1934The Washington TimesWashington, DC
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DEPARTMENTAL BANK TO PAY 10 PCT. MORE Depositors in the long-defunct Departmental Bank will receive a fifth dividend, amounting to 10 per cent of their original deposits, next Monday. In making this announcement today, John F. Moran, receiver of the bank, pointed out that the dividend will bring the total payoff so far to 80 per cent of the deposits. About $720,000 has been made available so far, he said, and the present dividend will increase the amount to $800,000. About 4,000 depositors will receive $80,000 in next Monday's pay-off. Checks will not be mailed to those residing in the District, but will be distributed in Mr. Moran's office in the Park Savings Bank, of which he is also the receiver. The bank is at Fourteenth and Kenyon Streets Northwest. The Departmental Bank closed its doors on July 14, 1932, with a deposit liability of $952,000. It has since made the largest repayment of deposits of any closed bank in the District, Mr. Moran stated.
17.August 8, 1934Evening StarWashington, DC
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BANK DOORS TO REMAIN OPEN FRIDAY EVENING Change Announced to Facilitate Receipt of Departmental 10 Per Cent Dividends. For the benefit of Departmental Bank depositors, who have been unable to get to the Park Savings Bank, Fourteenth and Kenyon streets, during banking hours to get their additional dividend of 10 per cent, John F. Moran, receiver for both banks, announced today the doors will remain open until 8 p.m. Friday.
18.December 19, 1937Evening StarWashington, DC
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DEPARTMENTAL BANK DISTRIBUTES DIVIDEND Five Per Cent to Be Given More Than 4,000 Depositors in Closed Institution. The closed Departmental Bank will begin distribution of a 5 per cent dividend to more than 4,000 depositors tomorrow at 9 a.m. at the old Park Savings Bank, Fourteenth and Kenyon streets N.W. The distributing office will be open from 9 a.m. to 5 p.m. tomorrow and Tuesday, and will remain open until 8 p.m. Wednesday and Thursday, according to Receiver John F. Moran. The $38,000 to be distributed will bring the total refund dividends up to 85 per cent.
19.December 22, 1937Evening StarWashington, DC
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Bank Starts Paying $60,000. Receiver John F. Moran of the North Capitol Savings Bank started payment today of a 6 1/4 per cent dividend to more than 5.800 depositors. The present disbursement amounts to about $60,000. The payment is being made at the old Park Savings Bank Building, Fourteenth and Kenyon streets N.W. The old Departmental Bank, which is in charge of the same receiver, began the payment Monday of a 5 per cent dividend to 4,000 former depositors. In the distribution $38,000 is involved, and it brings total payments to date to 85 per cent.
20.March 6, 1938Evening StarWashington, DC
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JOHN F. MORAN, BANKS' RECEIVER, MOVES OFFICE John F. Moran, receiver for four banks, has moved his offices from the old Park Savings Bank Building, at Fourteenth and Kenyon streets, to the Brightwood Bank Building, at 5913 Georgia avenue, where he will be ready for business tomorrow morning. The four banks in charge of Receiver Moran are Park Savings, Departmental Bank, North Capitol Savings Bank and Prudential Bank. The old Park Savings Bank was vacated because it was sold to the Gulf Oil Corp., which will demolish it for a new service station, as announced months ago.
21.June 30, 1939Evening StarWashington, DC
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his office of the Park Savings Bank, from 5913 Georgia avenue N.W. to the Riggs National Bank Building at Fourteenth street and Park road N.W., where he will be ready for business tomorrow. He also is receiver in the same office for the North Capitol Savings Bank, Departmental Bank and Prudential Bank.
22.October 6, 1940Evening StarWashington, DC
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Departmental Bank To Pay Final Dividend The seventh and final dividend, amounting to 6.4 per cent, will be paid to depositors of the Departmental Bank, beginning tomorrow morning, it was announced by Receiver John F. Moran. The amount to be disbursed is about $50,000. Checks will be ready for distribution at Room 222, Riggs Bank Building, at Fourteenth street and Park road N.W., but Mr. Moran asked depositors not to call for their dividends until they received notification by post card. "Due to lack of space," he said, "our facilities will not permit the handling of more than 500 depositors a day." Receiver's certificates must be presented by depositors before they can get their checks. Including the last dividend, the depositors will have received a total of 91.4 per cent of the money they had in the bank at the time it closed July 14, 1932. The amount of dividends will total $700,000 disbursed to about 4.000 persons. The receiver's office will be open from 9 a.m. to 5 p.m. daily. except Sunday, it was announced, but depositors must call for their checks on or before Monday, Oct. 21.
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