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San Antonio Bank In Fortified Position SAN ANTONIO, Feb. 12.-(P)-The City Central Bank and Trust company, with resources of $22,000,000 and time and checking deposits of more than $15,000,000, today was fortified in its position after meeting a run of small depositors which lasted yesterday until regular closing time.
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San Antonio Bank In Fortified Position SAN ANTONIO, Feb. 12.-(P)The City Central Bank and Trust company, with resources of $22,000,000 and time and checking deposits of more than $15,000,00, today was fortified in its position after meeting a run of small depositors which lasted yesterday until regular closing time.
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RUMORS CAUSE RUN ON BANK San Antonio, Texas, Feb. 11 (AP) -The City Central Bank and Trust company with resources of $22,000, 000 and time and checking deposits of more than $15,000,000 today met run of small depositors which lasted until regular closing time. A statement of bank officials said that the average account withdrawn was under $35. The bank, which has the largest number of small depositors of any bank in the city, was formed last year by consolidation of the City National, Central Trust company and Guarantee State banks. President W. R King said the run was caused by "malicious rumors."
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RUN ON SAN ANTONIO BANK City Central Bank and Trust Company In Fortified Position SAN ANTONIO, Tex., Feb. 12. City Central Bank and Trust Company, with resources of $22,000,000 time checking deposits more than $15,000,000, today fortified in its position meeting small lasted yesterday umtil regular closing time. W. King, president of the bank. gave telegram from James Shaw, Texas expressing confidence in the stability of bank, and also issued statement calling attention bank's strength as shown its report condition the close business December The withdrawals caused, King said, by malicious Telegrams form New York banks offering help made public, and the San Antonio Clearing House issued state ment confidence the bank.
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Run On Bank At San Antonio Is Handled Easily SAN ANTONIO, Feb. 11. (AP)-The City Central Bank and Trust Company with resources of $22,000,000 and time and checking deposits of more than $15,000,000 today met a run of small depositors which lasted until regular closing time. A statement of bank officials said that the average account withdrawn was under $35. The bank, which has the largest number of small depositors of any bank in the city, was formed last year by a consolidation of the City National, Central Trust Company, and Guarantee State Banks. President W. R. King said the run was caused by "malicious rumors."
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# BANK FAILURES IN U. S. MOUNT DAILY AS CRISIS GROWS Depositors Stand to Lose Savings of a Lifetime Bank failures continue at an un- precedented pace thruout the coun- try. Small depositors especially are hard hit, with their life savings wiped out in many instances, despite the promises of bankers and state banking departments that percent- ages will be paid. Below are some of the banks that were listed as insolvent the last few days. Philadelphia Bank Fails PHILADELPHIA, Pa. -The North- ern Central Trust Co., with five branches with deposits $2,309,959.95, closed its doors after a meeting of the board of directors. A steady run on deposits was declared the cause of the ban's insolvency. The banks covered the northern residential and business section of the city. Frederick, Md., Banks Crash HAGERSTOWN, Md. - The Daily Mail here reports the closing of the Commercial Bank of Maryland and three branches in the county, at Frederick, Md. Demand deposits of $315,869.92 and savings and special deposits of $2,- 340,475.84 were listed in the bank statement of June 30, 1931. The Central Trust Co. of Maryland and eleven branches in four counties closed last week. $11,000,000 Lost in San Antonio SAN ANTONIO, Tex. -The state commissioner of banking took over the affairs of the City Central Bank and Trust Co. with deposits of $11,- 000,000 as of July 1. Glass Town Bank Fails GLASSBORO, N. J.-The Glass- boro Title and Trust Co. in the cen- ter of the glass industry in south New Jersey closed its doors Monday. Total assets as of June 30 are listed at $516,610.32. South Carolina Bank Goes FORT MILL, S. C.- The First National Bank here did not open its doors due to the condition of its bus- iness. Steel Town Bank Closes NILES, Ohio.--The Niles Trust Co. with deposits of $2,400,000 closed its doors here. Niles is in the center of the steel making and finishing in- dustry.
SUIT REMOVE BANK RECEIVER, AGENT FILED By Associated SAN ANTONIO, Nov. 6.-Suit to remove James Shaw, as statutory receiver, and B. Long, liquidating agent for the City-Central Bank and Trust Company and asking judgment against the bank. its officials and a what were termed subsidiary corporatons, filed the FiftyDistrict Court Thursday attorney for Mrs. Hair and other depositors the bank. The petition alleges thatt he failed bank owned all of the stock in long list which are heavily debt the bank and whose officials were officials in the bank. Among these corporations were namCentral Mortgage Company. Central Securities Company, Texas State Bank and Trust Company. the Central Company, South Texas Wintergardens, Felis Investment Company, Central Properties, Inc., City Central curities Company. Holding Corporation. City Central Employes Investment Company. Commonwealth Company. Melive Irrigation and Cattle Company Pawnee Realty Company. Investment Company. Woodlawn Estates, Inc., Altito Development Company, San Antonio Boot Company and Land Company. Officials of the bank are charged with organizing private corporations In which stock was held in their names and these corporations are declared deeply indebted to closed bank. all these really the property of the bank among the assets bank. claimed. and Shaw is declared not conserving these assets. The court asked to prohibit Shaw and Long from paying claim against the bank until expiration the time of classifying claims to prevent them allowing any setoffs. competent auditor to audit the books asked. The court asked to require Shaw to appear and show cause why not disqualified to act statutory Shaw asked to file inventory including list of all The court to appoint and collect assessments from each of the stockholders.
(CONTINUED PAGE A. Williams And Others Cleared By Bexar Jury SAN ANTONIO, Jan officers the closed City Central Bank and Trust Company and State Banking Commissioner Shaw were by the current grand jury in its report Special District Judge Anthony this morning. They were each of the three charges filed in justice the peace courts after the court inquiry into affairs the closed bank, conducted by the county attorney's department. Judge Anthony refused to accept the written report of the grand jury in which on various cases when County Attorney Davis and Wright and Morris objected to the judge's receiving the and spreadthe court's The county and his assistants asked the judge for permission to examine the report before After consultation in court anteroom the two assistants voiced objections which were sustained the judge. Judge Anthony told the grand was their duty investigate matters brought to its attention and that there place for their individual opinions Those no billed by the investigaCarl Newton, Russell Hill, Williams, Allan Barnes, Thomson. James Shaw, Wallace Rogers, Harry Rogers, Webb Spencer They had been charged with infraction of banking laws. WILLIAMS HAD RESIGNED HERE Mr. Williams was elected cashier of the San Angelo National and had come here take over his duties when complaint was filed justice court five miles from San Antonio charging him along with other officers the bank with cepting deposits when they knew the bank failing condition. Upon being notified of the charges, he resigned his position saying he did not want cause the bank bank accepted his resignation with regret.