National Bank (Washington, DC)

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Episode Information

Episode UID
342501599
Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
34250 national
Charter Number
3425
Start Date
March 6, 1933
Location
Washington, District of Columbia (38.895, -77.036)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
43320be23622ece6

Response Measures

None

Events (3)
1. December 28, 1885 Chartered
Source
historical_nic
2. March 6, 1933 Suspension
Cause
Government Action
Cause Details
Federal bank holiday proclaimed by President Roosevelt (closure of banks in District as part of national emergency)
Newspaper Excerpt
the four-day bank holiday ... proclaimed by President Roosevelt
Source
newspapers
3. March 13, 1933 Reopening
Newspaper Excerpt
BANKS PREPARE FOR OPENING TOMORROW All to Resume at Same Time ... awaiting word from the Federal Reserve Bank at Richmond for permission to resume activities tomorrow.
Source
newspapers

Newspaper Articles (7)
1. March 1, 1933 The Washington Herald Washington, DC

Article Text

Will Cut All Red Tape in Making Loans on Good Securities; No Moratorium Likely By RICHARD HATTON The Reconstruction Finance Corporation was prepared last night to loan money immediately any bank that may be forced into difficult by the closing of the Comsition mercial Bank With this information came word from the corporation that loans would be made only on reptable security although all tape would be cut to make money available. NO MORATORIUM Possibility of banking mora torium in the District does not exist explained by the following statement: "There apparently been some misapprehension the possibility of action the District of Columbia affecting the banks similar that taken Michigan and "There no law and thority in public official declare moratorium bank holiday in the District. "What done in Michigan and other places not, under our laws, be feared by positors here because no one has the power to do what Comstock and Gov ernor Ritchie WILL CUT RED TAPE Discussing the availability immediate aid to any bank fected by closing of the National. official the Reconstruction Finance Corporation had the following has been ascertained that through the cooperation of the Board of the Reconstruction nance Corporation, together with the Richmond, Va., Loan Agency and the local advisory arrangements have been effected whereby local institutions. should the need arise, may secure loans sound assets from the and get prompt and almost service. "This occasioned by the fact that ordinarily is the practice. in making loans, that they must be proved by the committee prominent have been selected by the board and who first must give their approval and submit their recommendations the loan agency the Federal Reserve district which the banks are located. the of Washington, ordinarily loans. after being proved by the local would be transmitted to Richmond, the headquarters of the Fifth Federal district. being the headquarters of the board, the facilities that body are available to any the local banks desire make loans their sound assets, more the board being located

2. March 2, 1933 Paragould Daily Press Paragould, AR

Article Text

Jealousy Charged For Killing Senate the Amend- of Bank Panic Ex- Murder Case of Leslie Cox Accepts Spread After Bring Call on of Fort Smith Goes to ments King pected to Bill Congress Jury nounces Mar. uncertain last night awaited the Smith cotrelief bill the White The intended to cotton prices through acreage his tion and pooling plan, sent President Hoover completion congressional action. for Administration senators expressed doubt that the bill would be while sponsors of the measure, including Senator Smith. Democrat. South Carolina, its author. claimed they lieved would receive White House proval. The bill was sent to the president early in after the Senate accepted without record vote and with only few audible amendments by the Senator King. Utah. denounced proposal tending "perpetuate the that has grown up under the Farm Board" and "projecting the government again into the buying and selling Smith and Senator McKellar, DemoTennessee, its the the former declaring "may the beginning in the break in the deadlock of price the Those predicting veto of the bill based their belief the fact that all Republicans the House except those in cotton textile voted against House passed Tuesday, 188 to State Campaign Under Smith Bill Planned Little Mar. Roy assistant director of Agricultural Extension Service. advised yesterday by official Washington of the passage the Smith cotton duction bill and requested to prepare organization for paign in behalf the measure signed by the president Evans, associate chief of extension will come to Arkansas immediately the bill signed by launch the acreage reduccampaign, Mr. Reid said. The bill provides for farmers to tain options on the amount of cotton they would have grown on the they agreed to take out of cotton cultivation to 30 per cent of their total acreage. there an increase in cotton prices they will have privilege of exercising their while they can cancel the contracts if prices do not increase. Mar. resplendnational already with visitors, awaiting the President for rival of Saturday and the distressed nation. quivering mingled and eagerly watching anxiety hope. harbinger of his promised With the banking panic addir to the regions and thereby the depression, the gravity like through the has run the president to make that new restore tranquility either in his inaugural and An address or immediately the regarded leaders here are saying that commanding gesture the calls for and what what they expect of Roosevelt he the oath of For this takes they attach much significance summons to William Woodin. his choice for secretary confer in New York Treasury. believe that the RooseThey action in emergency being shaped by the crisis Mr. Woodin and other advisors. Observes Proprieties that Mr. Roosevelt was appears leaders strongly by urged business men several ago and to the reassuring to either independently in President Hoover. He junction with contrary to his declined. take of the conception character before becoming step of this president. leaders are content Some Democratic policy of hands with Mr. Roosevelt's moment he takes off right up believe that the the oath. They country. which nomic condition of the violently the last fortslumped in reached lowest will depths the Republican regime ends Then, comes noon Saturday. the magician's wand will begin pick up at and things hitting the upgrade stock optimistic antiand all that the more cipate. Democratic leaders, however, Many alarm the bank are exhibiting much states where withscare spreads beyond has been partially drawal of deposits had visual suspended. Congress the bank scare and the evidence of right at its doors in of hoarding three as runs on many the last Washington banks have developed. The National Bank closed. the Commercial Bank limited withDistrict National five and many savdrawals banks invoked the 60-day notice ings clause. Democratic leaders in the House were yesterday that the emergency saying meeting of the new Concalls for the after March as phygress soon event before sically possible and any which the tentative date fixed. April, intend Mr. Some of them urge the call at once for Roosevelt to issue not later than session to that Henry March chosen for in the Rainey, Democratic caucus tonight, will take the leadership in this move. Rebinson for Definite Program DemoSenator Joseph denied that he contemcrat, Arkansas, plated urging the at once. He call new Congress matter for Mr. Roosesaid that was decide. Arkansas senator velt believes that definite program should before calling Congress. does what Congress could He the bank scare except by to allay to bank legislating S which he cold. The measure Glass banking reform would but this measure which his by the Senate has been been passed blocked the House by Representative Henry Democrat. chairman the Banking Currency Committee, because the refusal the Senate House bills sponpass sored by Mr. Steagall. Other leaders in the Sensaid that whether they would urge of would the Mr. Roosevelt depend on program brings forward. Mr. Roosevelt has said his inaugural address yould not take more than eight minutes to deliver, therefore concluded no detailed program presented. Still, is conceded that brief as be, the speech may outline action that will program dissipate alarm inspire the American with confidence that the people tide at hand. are confident that the inaugural address will contain definite that there will inflation of the that budget will be balanced, the counremain on the gold standard try and that the federal government be reduced radically. Assurances against inflation and pledges an balancing of the budget, early contended. would go far toward endthe bank scare and the increased hearding that started Panic has spread bank depositors, said, by the failure to budget increasing agitation for and the lack of evidence Mr. will take strong stand against inflationary Circuit Court asked night to jury decide whether Leslie Cox. rancher, killed Charlie one of his because the ranch his life Morris him when the rancher accused tenant stealing The case went to the composed 12 farmers merchants, at after sensational trial. Prosecuting Attorney Harrell Harper demanded conviction the strength testimony that Cox quarreled with Morris over the housekeeper his near Jenny Lind. Ark., while the asked acquittal on the ground that Morris attacked Cox with pocket knife. took stand deny any illicit relationships the in only and declared he shot him with knife Morris after he had Morris stealand food from the ranch. ing testified that he after Cox firing and the body for more than helpless hour. denied that Morris an dismiss requested ground she housekeeper dissension in the families causing ranch tenants. Clark and Jchn Morris, the Albert latter brother slain man. testified that the housekeeper the "constant trouble" beof her relations Cox. Bynum testified that Charles Morris him few days shooting that he had asked the Cox the housekeeper and had the unless his request was granted.

3. March 9, 1933 The Washington Times Washington, DC
Article from The Washington Times, March 9, 1933

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Article Text

Banks Free Money For Essentials Washington banks today started granting withdrawals by depositors who need the money for the purchase of food, medicine, and other essentials-and found few persons taking advantage of the service. Each depositor who came to draw money was required to sign a printed form to the effect that the money withdrawn was to be used for necessities. No limit was set by the banks, but those making the withdrawais were asked to explain their needs and the sum was determined by this method. Amounts paid out ranged from $5 to $25. Withdrawals Are Light Bank officials in all parts of the District said that the number of withdrawals was running exceedingly light, an indication that the four-day bank holiday has worked little if any hardship in Washington. The withdrawal of money was made possible through instructions issued by the Washington Clearing House Association to its members, based on regulation No. 10, the "humanitarian" regulation issued by Secretary of the Treasury William H. Woodin. Reversal of Position In taking this stand the clearing house reversed its position of yesterday when it recommended against any action on Regulation No. 10 pending further clarification of the ruling which was termed as vague and too broad. While this action releases a certain amount of funds from the banks, no action will be taken on another section of the regulation providing that the banks may meet payrolls. Bankers pointed out that if they did this they would jeopardize their own position, by paying out money while they are unable to take any in. No bank, no matter how strong its position and reserve, can long do this, they said. Under restrictions placed on the banks by Secretary Woodin, banks may receive new deposits, but these deposits must be kept in trust. So far all local banks (Continued on Page 2, Col. 3)

4. March 10, 1933 The Washington Times Washington, DC
Article from The Washington Times, March 10, 1933

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Article Text

PAYROLLS HERE MET BY BANKS (Continued from Page One) certificates may be withdrawn, however. The local banks also continued allowing their depositors to withdraw funds up to $25 for purchases of food, medicine, and other essentials permitted under Regulation No. 10. Those making the withdrawls must sign statements that the money is to be expended in accordance with the regulations of the department. Padded Payrolls Alleged Several banks reported they had detected several instances of business men trying to pad their payrolls to get larger amounts of cash on hand in their establishments. To check this, the banks were requiring the business men to present their payroll books as proof of their needs. Some banks, however, not sure of the authority to issue money to meet payrolls, were asking the business men to sign 10-day notes for the money they withdraw to meet the payrolls. In this manner, they said, they would be protected if it was learned afterward that they did not have authority to issue the money. Rent Not Considered Banks do not consider payment of rent one of the essentials covered in the regulation, several being reported as refusing to honor withdrawals for rent payments, holding that the landlord must wait payment as do stores and other business concerns. The Clearing House last night advised its members to prepare to reopen on short notice, and it was believed that all banks will be opened for business in full by next Monday. Some banks may be reopened tomorrow, it was indicated. At Upper Marlboro, Md., the First National Bank today started cashing pay roll checks and also cashed checks for county employes whose offices carry accounts in the bank. Exchange to Open The Washington Stock Exchange, closed following the proclamation of the bank holiday, will also open again Monday, it is believed, and local brokers are looking for a rising market.

5. March 13, 1933 The Washington Times Washington, DC
Article from The Washington Times, March 13, 1933

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Article Text

BANKS PREPARE FOR OPENING TOMORROW All to Resume at Same Time If Reserve Board 0. K's Clearing House Plea Washington banks today were awaiting word from the Federal Reserve Bank at Richmond for permission to resume activities tomorrow. It is expected that the Federal Reserve will honor the request of the Washington Clearing House Association and send out notification simultaneously, so that all banks here which are members of the system will receive licenses and open at the same time. The Clearing House made this request, pointing out that failure of any bank to open at the same time as the others might be misconstrued by depositors. While the local banks are expected to reopen tomorrow morning. Secretary of the Treasury William H. Woodin issued instructions to banks that they guard against hoarders. Withdrawals Limited Until more normal conditions have been established. the Secretary instructed, withdrawals should be limited at the discretion of the bank to necessary funds. This will permit the banks to restrict withdrawals of, in their judgment, the money to be taken out of circulation. Warning was again issued that 3 o'clock Friday is the deadline for those who have been hoarding gold or gold certificates to turn them in. Names to Be Listed At the close of the banking lists of those who sums or 1 will be have gold day February Friday withdrawn gold certificates large sent Reserve to since the of governor of the Federal at Richmond for such action as the Government may deem advisable in view of the President's edict against hoarding. It is believed that few persons will fail to turn in their gold as the President asked, bankers pointing out that in the past few days many thousands of dollars have already been turned in at local banks and at the Treasury. Today, the last of the bank holiday proclaimed by President Roosevelt, found Washington banks carrying on limited business and prepared for general reopening tomorrow. The reopening is expected to give a bc m to local business. Savings banks and other institutions here which are not members of the Federal Reserve System have applied to the Comptroller of the Currency for licenses to reopen, and it is expected that they will be given permission to resume on Wednesday.

6. January 13, 1935 Evening Star Washington, DC
Article from Evening Star, January 13, 1935

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Article Text

PAYMENTS to Dividends Depositors to 50 80 From Range Per DUE FUNDS ADDITIONAL SAY LATER, OFFICIALS AsTotal Remaining Uncollected at Five Listed Million, Book Value. of of five Out total assets banks District Columbia colcash to the have been extent lections of of end 1934, to by Norreports the five R. man last made night. public institutions, to credipaid 50 as from tors, such range depositors, to 80 these per among total $4,804, banks, may Some 740.50. further dividends the be but reports available, quarterly to no these when be prediction available, diding be. which had assets additional make they National suspension Bank. of 400.13, $8,601 and after nor The District at date of US434,872.51 a stock was levied, Institution institut One assessment assets of assets of $10,036 this 672.70. cent has making counted for 50 per the conto be dividend of bank. on the repaid by th1.793.757.63 bank. and addipaying did tional been pay ying of the sufficient not get it the total from to unsecured payments to since claimants who to make creditors a are kholders making of court collection stock assessment no $1.011.053 the receiver stock listed as the Some fight to so that from pay such. other stockhold decourt recessment from fund some stockholders assets fight. are ments into a trust of the uncollected book value. Cash istroductions R. to Total termination at $5,121 total 833.12, $4,135,815.34 F.C. Corp. Finance rehad been 230.90 The which Savings cent The loaned amount $817. of $148.2 Bank had stock asincluding of of out paid in Potomac the 100 per totaling cash which $3,526,844 $140,000. total at listed from collected 50 $1,435,940.87 cent per Only dividend paid conservathrough bank. This by dividend. payments 50 the since, receiver total cent. has tor on including on the same A suit is over this of the stock right so the from not are this assessment, loaned per pending receiver in to Segregated collections The of which this Reconser been bank repaid. addihas paid Street to has Received Hamilt the in addition by the Savings tional Bank. 50 which per cent total paid to 80 per 75. the original ervator brings cash the of $839. in this conserva total of assessment is cent. or assets stock collected listed a cash assessments of includitotal stock segregated account. of of loan Out collections but also $623. R. F. has the from Total repaid $254,807. are at in this total of a the receiver book unlisted assets Illected of in Cash value hands is and $44,806.46 receiver 75 Per Paid. has Bank Savings cent dividends original The total Northeast of including tional per the 25 $792. per cent. paid to and an altogether of to $462 330 A has stock 50 per amounting by loan $272,330. has been but the on 943.33 been The curtai of share $100. 000 owners Total collections. Total assets coll.192.31. assess504.34. not levied egregated listed excluding at $1,901 Total stock remain- 586 30. The Savings cash ment, collected. is ellected $1,081 assets hand are is $43,353.30. Bank. has whose has cent, ing and unco the cash in amounting paid there total listed at been against no of 70 Total per assets collec are ections un$731,229.08. dividends and cash remaining $346,booked to $134.847.35 Total at $12,1 The 639.54. R. in F. the C. loan sum of $133,695. at collected $321, assets cash are in of hand $247,395 is has been

7. August 25, 1938 Evening Star Washington, DC
Article from Evening Star, August 25, 1938

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Article Text

HERBERT S. WARD, Attorney. OF THE DISTRICT COURT District of Co- A. IN United THE States for Matter the of CARY lumbia In Receiver the of the deral-American Company HARDEE and Trust 1336 New York National Bank corporation. on D. C.Northwest ORDER of the FederalMiscellane Avenue Washington a Number Washing 38 of the petition Com- NISI, of Cary Upon A. Hardee National Receive Bank and filed Trust herein on American verified and 1938. and the it the pany 23rd duly day the of Court August that of among the said appearing to the possession described propassets now in following Part of Lots wit Property and Fifteen Receiver to is the (14) No. Fifty- (15). erty. Fourteen Hundred numbered numbered Two for the same at and the in three Square (2153). corner beginning of said square (36) feel. northwest thence south thirty-six Fourteenth Street. ten thence nine east north thirty-six (10) running inches. (9) inches thence eighty-fou inches on to (84) G Street. feet. (84) (36) and feet. nine (9) on G Street eighty-four place of bethence west inches to the Forty-eight feet. ten (10) also Lots numbered in the subdi(48) ginning: and Forty -nine in Square (49) Two the Hundred Riker vision of Lots (5:53) made by subdivision is Company. as the Surveyor Realty Fifty-three in the office Columbia of said in Book 62. for recorded of now known 79, said 833. the Page District number property being Square of 253 14th as Tax Lot southeast corner together with located G on Streets the Northwest: the ways easements. to the and and singular appurtenances rights privileges in any way belonging or title. same all. estate. and right. appertaining interest or other- and and all the law or in equity of the first claim either at of the said party furniture. fixwise however, or thereto. all by the tenant. part therein equipment now used numbered Twenty tures Property and No. -one Cell -Lots in the subdivision Square (20) and J. Tv Eaking Gadsby of and lots in Eighteen numbered made by One Hundred recorded in the of Office Coas per plat the District Also (118). Surveyor for folio 101 of the in Liber 13 at numbered Five (50 lumbia of Original Lots (8) in said Eighteen Square numbered Six parts (6) and One parts Eight Hundred described Southeas and in one parcel. corner in the (118) said Beginning at the (201) to wit Twenty and of said Lot numbered Pennsylvania Avenue to said North line thence of at right along angles the Easterly running Northeasterly Twenty (20) the avenue. said Lots numbered 98.91 feet to line and of Twenty-one said (21). Lot numbered South Six (6): 46 North line of 50.15 feet: thence of said Lot thence to East the Southeast thence corner West 55.10 drawn feet at feet numbered Six to (6): intersect a line from a point more right or angles less to feet said uneasured avenue on the the point line avenue with said of distant of said beginning: 14.17 thence Eastwardly Southwesterly from intersected at through right a of reversed. 54.76 feet avenue said angles line to said avenue brick wall to avenue. said 14.17 Westerly to the point of lots and of assessment Hundred feet the Said thence center more or less parts along of lots being beginning and tax- also known for purposes numbered Eight all furniture. ation as (810) Lot in said square. now used by the and Ten and equipment appearing from refixtures And it further the Receiver National has said tenant petition offer that from the purchase Hamilton the afore- the ceived of an Washington to equipment for Bank property and Hundred Sixty-Five consideration sales said Thousand Dollars of Seven ($765,000.00) the necessary net. from sub- adject. however to it further appearing is of the justments petition And that offer the should Receiver be accepted. said opinion that been authorized the by the Comptroller this Court and the has Currency to and, petition upon final con- sale. of for an order authority nisi to make the said 24th firmation BY for THE COURT ORDERED this AND IT IS. of August, 1938. A. Hardee. Receiver Bank day that Cary Washington, National be. of the Trust Company authorized of and sell emand and he to is convey. hereby transfer deed the and aforesaid by by powered claim or receiver's existing leases and. and realty, quit bill to assign of sale. to transfer. hereinabove sell proper the personal Hamilton property National Bank and assign referred to. to the its nominees for Washington. or of Seven Hundred Sixty- cash. Thousand make the of Five in consideration Receiver Dollars to ($765 take $ 000.00 such necessary steps net to the and to be necesexecute of said sales and adjustments such transfer papers as may of property Washing- to sary to cause National Bank sufficient its is shown or the contrary dav of ton. the Hamilton nominees. unless Sentem- to this cause on or before the 0" better offer Court or a higher the Receiver 1336 1938, to 9th Washington is ber. made at the Office Northwest. of 8th New C.. York b twelve Avenue o'clock 1938. noon provided on the a copy in of once a this issues of week. and twice a of 2 D. day successive Reporter" order September he published The the Washington Washington week for Law successive weeks. daily in newspaper. prior pubEvening Star," the District a of Columbia. 1938 F A lished in 9th day of September, Seal true copy Clerk. By ANDREW DICKINSON to said Test: LETTS CHARLES Justice HORNER. E STEWART. Asst. Clerk. 2u25,27;se1.3.