Article Text
CONNECTICUT BANKS CLOSE Hartford. Conn., Dec. 23 (P)-Two Hartford banks, the Riverside Trust Company, and Pallotti Andretta & Company, were suspended today by Bank Commissioner Lester E. Shippee, following runs on both institutions.
Pallotti Andretta & Company (Hartford, CT)
Episode Information
- Episode UID
51007371572- Episode Type
- Run → Suspension → Closure
- Bank Type
- private
- Bank ID
-
5100737routing - Routing Number
51-0073- Start Date
- December 23, 1930
- Location
- Hartford, Connecticut (41.764, -72.685)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
8f0d244718065d36
Response Measures
None
Description
Suspended by the state bank commissioner after prolonged runs; later placed in receivership (1932).
Events (3)
1.
December 23, 1930
Run
- Cause
- Bank Specific Adverse Info
- Cause Details
- Prolonged withdrawals tied to concerns about Pallotti Andretta's control of Riverside Trust and frozen assets; runs in progress since July.
- Measures
- Depositors faced heavy withdrawals; branch in New Haven closed as precaution; police kept order while depositors removed safe-deposit contents.
- Newspaper Excerpt
- were suspended today by Bank Commissioner Lester E. Shippee, following runs on both institutions.
- Source
- newspapers
2.
December 23, 1930
Suspension
- Cause
- Government Action
- Cause Details
- Suspended by Bank Commissioner Lester E. Shippee following runs on the institutions.
- Newspaper Excerpt
- Two Hartford banks, the Riverside Trust company, and Pallotti Andretta & Company, were suspended today by Bank Commissioner Lester E. Shippee
- Source
- newspapers
3.
August 15, 1932
Receivership
- Newspaper Excerpt
- The bank is in receivership and its receiver is Judge John L. Bonee of Hartford ... the closed Pallotti, Andretta & Co., Inc. bank of Hartford.
- Source
- newspapers
Newspaper Articles (14)
Click image to open full size in new tab
Click image to open full size in new tab
Article Text
Another Miami Bank Suspends City Bank Miami heavy yesterday following the closing City National Bank in Miami, did not open this cashier. said the bank closed at the order state bank examiners to probank capital stock of surplus $50,000 and deposits of $600,000 the last call. HARTFORD Conn Hartford banks, the Trust Company Pallotti Andretta Company suspended today Bank Lester Shippee, runs on both inPallotti, Andretta & control of the Riverside Trust ComThe state manual for 1930 gave the capital of the Riverside Trust Comin 1907. as $400. savings deposits and commercial deposits
Click image to open full size in new tab
Article Text
TWO BANKS CLOSE. HARTFORD, CONN. (AP)—Two Hartford banks, the Riverside Trust company, and Pallotti Andretta & Company were suspended Tuesday by Bank Commissioner Lester E. Shippee, following runs on both institutions. Capital of the Riverside Trust company was given as $400,000, savings deposits, $643,805 and commercial deposits, $3,185,455.10. ANOTHER IN MIAMI. MIAMI, FLA. (AP)—The City Bank of Miami Beach, which underwent a heavy run Monday, did not open Tuesday morning. The bank had a capital stock of $100,000, and deposits of $600,000. ONE IN VIRGINIA. RICHMOND, VA. (AP)—The Peoples Bank of Gretna, Va., suspended business Tuesday. The bank was capitalized at $50,000 and had deposits of $474,000.
Click image to open full size in new tab
Article Text
BANK MIAMI HAS NOT OPENED TODAY By Miami, Dec. City Bank Miami Beach, which went heavy yesterday following the closing the City National bank in Miami, did not open this Clements, vice president and said the bank closed at the order state bank examiners to its The capital stock of bank had surplus $50,000 and deposits of $600,000 at the last call. Conn., Dec. Two Hartford the Riverside Trust and Pallotti, Andretta company were suspended today by company, Bank Lester Shipfollowing runs on both institutions which have been in progress since last July. Pallotti, Andretta and company control of the Riverside Trust The state manual for 1930 the Riverside Trust the capital surplus 000, profits deposits and commercial ing deposits
Click image to open full size in new tab
Article Text
PHILA. BANK VISITS HOOVER, FLAYS NORRIS placed before President Hoover but he has said nothing Meanwhile the Republican independent group in the Senate for serious diswas preparing Norris himself is. pute. statement last night desued and today Senanouncing tor Brookhart. Republican indeof issued statement which said: "Secretary Mellon has no right to set up a Republican committee with money to over. ride any Republican Senator who listens to the voice of the people. "Robert H. Lucas says there a cancer in the Republican party and that it must be cut out. He is right. But he does not recognize the cancerous part. The personal head of this cancerous growth is Andrew W. Mellon. "Robert H. Lucas is only little wart under the toenail of this big personal- USED G. O. FUNDS The Senate Campaigns Funds Committee. which Lucas had financed some antiNorris campaigning in Nebraska. yesterday found Lucas had used funds of the Republican National Committee in securing the loans he made from bank here to pay the anti-Norris propaganda Stunned by the furore of the sudden controversy. the Senate Republican leadership is watching silently Senate Republicans insist the issue of Norris right to party recognition is not up them and they are watching the attitude of the President and the national committee toward Lucas The Kentuckian still has his job and. therefore. apparently the support of the party On reaching the capitol. Representative also heads the Appropriations Committeesaid he had President Hoover: "It is the duty of every Republican to stand behind Mr. Lucas. Although all might not agree with the way Mr Lucas did things am sure every real Republican agrees with his idea. Wood later declared "It is time for the Republicans to speak out in meeting and rid themselves of people like Norris. He is nothing but wolf in sheep's clothing. Why. would lot rather have to deal with Democrat in the Senate, than pusedo Republican like the Nebraskan.' and stockholders having claims of more than $2,000,000 against the closed Bankers Trust Company and its 19 branch offices were assured to. day the bank is solvent and that they will receive 100 cents on the Plans already are under way for the reorganization and the early re-opening of the huge institution according to Samuel H. Barker president of the 000 concern. MIAMI Fla., Dec. The City Bank of Miami Beach which underwent heavy run yesterday following the closing of the City National Bank in Miami. did not open this morning. HARTFORD Conn. Dec. Hartford banks. the Riverside Trust and Pallotti Andretta & Co., were pended today by Bank Commissioner Lester Shippee. followon both institutions ing runs which have been in progress since last July. BESSEMER Ala. Dec City National Bank the Bessemer Trust and Savand ings Bank failed to open today. Officials said they were "acting for the best interests of depositors.
Click image to open full size in new tab
Article Text
OFFICIAL CLOSES DOORS OF TWO HARTFORD BANKS HARTFORD, Conn., Dec. 23. (/P) Hartford banks, the Riverside Trust company, and Pallotti, Andretta & Company, were suspended today by Bank Commissioner Lester E. Shippee, following runs on both institutions which been in progress since last July notices were posted the doors of the banks before m., today and found the closed at that hour. Pallotti, Andretta Company, own control of the Riverside Trust company Commissioner Shippee said the Riverside Trust company "is questionably solvent," while the assets of Pallotti, Andretta Company frozen, but it likely that the depositors protected. The state manual for 1930 gave the capital of the Trust in 1907, $400,000, surplus $600,000 undivided profits $244,229.61, savings deposits $643,805.23. and Commercial deposits $3,185,455.10.
Click image to open full size in new tab
Article Text
HARTFORD BANKS CLOSE HARTFORD. Conn., Dec. banks. the Riverside Trust Company and Pallotti Andretta and Company suspended operation today following runs. At the last call the Riverside Company had commercial deposits of three millions and savings of over
Click image to open full size in new tab
Article Text
HARTFORD Riverside Trust Co. and Pallotti, Andretta & Co. CALLED SOLVENT of Depositors Traced to April Hartford, Dec. 23. Hartford banks, the Riverside Trust company, and Pallotti, Andretta and were suspended today Lester Shippee following runs both institutions which been in progress since July. Suspension notices posted on the doors the banks beo'clock this morning and tomers found the doors closed hour. Pallotti, Andretta and company control of the Riverside Trust company. Shippee announced the Riverside Trust solvent,' while the Pallotti, Andretta and somewhat but likely the depositors may adequately runs both banks became last Many Italian Depositors. Several hundred persons passing Pearl street, stopped read the susnotice posted in the window the Riverside Trust company. Most the people interested Italians who had money deposited there Anxious men women waited the doors for permission go into the bank and take out their securities and other valuables deposited vaults. Two policemen were stationed inside the bank to keep order of an Those who had in the safe deposit vaults were to take them out. Men women to seen this folios and velopes filled contents of vaults rented by had sums of them ready for deposit. The on the Hartford banks believed to have indirectly due the failure D'Esopo and company, private April. Panicky depositors said to have feared that Pallotti, Andretta and company might not be in sound dition knowing that owned controlling in the Riverside, depositors of the latter bank withdraw their money. This action is reported have affected Riverside and then Pallotti. Andretta company. until both to closed protect the interof depositors. Bank Commissioner Shippee anBounced that he would effort to avoid liquidation the RiverTrust company. This has $5,300,000. Its capital $400,000, surplus deposits and savings depos$1,084,000. The total assets Pallotti, Andretta and company are capital, $250,000; surplus, $300,000: deposits. $204,000, and savings deposits, $2,191,00. Branch Bank Closed. New Haven, Dec. The Pallotti, Andretta company, bankers in lower Chapel street, closed noon today order State Bank Commissioner Shippee. This action was taken because the closing the main fice of the company at Hartford. also done precautionary measure against very heavy run depositors they had heard the commissioner's action at the Hartford office. Prior to the noon hour Chief Philip officers vicinity the bank. The closing, however, was without incident.
Click image to open full size in new tab
Article Text
TWO HARTFORD BANKS years CLOSED AFTER RUN 1890 he Riverside Trust Co. and Pallotti, Andretta & Co. Suspended By Bank Commissioner HARTFORD, Conn., Dec. banks, Riverside Trust Pallotti. suspended by Bank Lester following runs institutions which have been in progress since last Pallotti, Andretta and Co., own control of the Trust Shippee said Riverside Trust "unquestionthe assets of Andretta and are "somewhat frozen, but likely depositors may be adequately The for 1930 gave the capital Co., incorporated in 1907. plus profits $244.savings deposits deposits The New branch of closed Shippee. This action taken against very heavy run of depositors after they had action at the Hartford office.
Click image to open full size in new tab
Article Text
TWO HARTFORD BANKS CLOSED HARTFORD Conn., Dec. -Two Hartford banks, the Riverside Trust company. and Pallotti Andretta and company, were suspended today by Bank Commissioner Lester E. Shippe following runs on both institutions which have been in progress since last July The State Manual for 1930 gave the capital of the Riverside Trust company. incorporated in 1907, as $400,000. surplus 8500,000 undivided profits $244,229.61 savings deposits $643,805 23. and commercial deposits $3,185,455.10. ALL ALIKE. Tailor: How about your account sir? You owe me for 10 suits made last year. Client. Impossible-I only had two. Tailor: Yes, but you sent several of your friends here-Passing Show.
Click image to open full size in new tab
Article Text
Two Hartford banks, the Riverside Trust company, and Pallotti Andretta & Co., were suspended today by Bank Commissioner Lester E. Shippee, following runs on both institutions which have been in progress since last July. Pallotti, Andretta & Co., own control of the Riverside Trust company. The state manual for 1930 gave the capital of the Riverside Trust company as $400,000; savings deposits $643,805 and commercial deposits, $3,185,455.10.
Click image to open full size in new tab
Article Text
officers and directors as the Pallotti bank in Hartford, but has been managed independently. The local banks were closed before the opening hour this morning. The bank in New Haven was by Shippee noon as precautionary measure against heavy run based on the commissioner's action against the Hartford institution. Commissioner Shippee said the Riverside Trust Company, which controlled by Pallotti, Co, unquesti solvent." The assets of Pallotti, Andretta Co, he said, are frozen, but likely that the depositors may be adequately protected.' Runs on the Hartford banks which began last July became acute last week resulted today's action. Co. private bank lieved to have been responsible for the withdrawals of deposits. Commissioner Shippee announced that he would every effort avoid the Company. $5,300,000. This bank is assets capital $400,000, surplus $600,000. commercial deposits and savings deposits $1,084,000. The Pallotti, Andretta & Co, capital $250,000. surplus $300,000, deposits $204,000 and savings deposits $2,191,000.
Click image to open full size in new tab
Article Text
DAIRY MARKETS Per Ventura Dec. BAY DISTRICT Butter am not here she told of per her desire to aid her children Mv eldest son, Rodney, is now 15% and Cheese to earnest desire the pro- LOS ANGELES lugs stigma of my and so three children bation my my in Los may by 17 23 to Judge Hardy Fresh the request of Mrs. Pantages to the 5x5 Case soft HAY MARKET 19 19 19 19 19 LOS ANGELES MAY MARKET 15% 15% mately $600,000. The City National Bank of Miami was closed yesterday. CLOSE IN HARTFORD H. Dec. 24. Hartford banks, the Riverside Trust Company and Pallotti Andretta and Company were sus-
Click image to open full size in new tab
Article Text
to around $5,000 but could possibly pay some of it. Judge McEvoy also reserved decision on the application of Felix P. Sagarino of Hartford asking that he be allowed a set off of $900 against a $3,400 note he owes the closed Pallotti, Andretta & Co., Inc. bank of Hartford. He was represented by Attorney Edward Mascolo of Waterbury. The bank is in receivership and its receiver is Judge John L. Bonee of Hartford who was represented at the hearing by Attorney Morris Older of Hartford. An application for the dissolution of an attachment of a store in Hartford in the case of Alex Bush of New Haven against the Barbara Stone Stores, Inc. of Hartford was continued. Thursday at 10:30 o'clock was set as the time for hearing a habeas corpus action in the case of Emontz against Emontz, both of Fairfield. Judge McEvoy continued the matter in the case of Stroberg against Stroberg, local contracting firm. in bankruptcy. The hearing was held for the purpose of securing the court's decision on the acceptance of bids received by the receiver for personal and real estate in the bankrupt estate. A continuance to allow counsel to investigate the bids was granted.