Kazemekas & Company (Waterbury, CT)

Episode Information

Episode UID
51008771584
Episode Type
Run → Suspension → Closure
Bank Type
state
Bank ID
5100877 routing
Routing Number
51-0087
Start Date
December 23, 1931
Location
Waterbury, Connecticut (41.558, -73.051)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
29c33c623d5d30af

Response Measures

None

Description

Suspension tied to failure/suspension of its depository (Merchants Trust); receivership follows and bank remains closed.

Events (3)
1. December 23, 1931 Run
Cause
Correspondent
Cause Details
Heavy withdrawals triggered after its depository, the Merchants Trust Company, suspended.
Newspaper Excerpt
This, together with heavy withdrawals yesterday caused the suspension, officials said.
Source
newspapers
2. December 24, 1931 Receivership
Newspaper Excerpt
the Waterbury National bank, receiver for the Kazemekas Co, Inc, local bank, which suspended shortly after the Merchants Trust Co.
Source
newspapers
3. December 24, 1931 Suspension
Cause
Correspondent
Cause Details
Bank failed to open and suspended after heavy withdrawals and the Merchants Trust Co. suspension.
Newspaper Excerpt
Kazemekas & Co., private bankers here since 1908... failed to open today.
Source
newspapers

Newspaper Articles (16)
1. December 24, 1931 Brooklyn Eagle Brooklyn, NY

Article Text

5 Small Banks Fail to Open Waterbury. Conn., Dec. 24 (AP)Kazemekas & Co., private bankers here since 1908. and capitalized at $100,000. failed to open today. The Merchants Trust Company, which suspended yesterday. was its depository. This, together with heavy withdrawals yesterday caused the suspension, officials said. The bank has deposits of about $300,000 Application for receivers for the Merchants Trust Company and for Sandits & Trauris, private bankers. who didn't open yesterday, was to be made today. Penna. Bank Closed Cornwells State Bank at Cornwells Heights. north of Philadelphia, closed its doors today and announced the business had been turned over to the State Banking Department. A notice posted on the door said the officers decided on the move because of heavy withdrawals and to protect depositors. Ocean Grove National Ocean Grove, N. J., Dec. 24-The Ocean Grove National Bank here suspended at noon. notice posted on the door of the bank announced that the bank had been closed by action of the board of directors to conserve its assets and that the Controller of the Currency would take charge. The bank has resources of $2,263,622 and deposits of $1,975,649. according to its statements on the last bank call day. Jersey Closing Bradley Beach, N. Dec. 24The First National Bank of Bradley Beach closed today in the face of heavy withdrawals. It had opened for business as usual in spite of the fact that heavy withdrawals were made yesterday. When it appeared that the withdrawals were continue the board of directors decided to suspend and turn the bank over to the Controller of the Currency to conserve its assets The First National is the sixth bank to close in Monmouth County within three days. Connecticut Bank Closed New Haven. Conn., Dec. 24 (AP)-The West Haven Bank & Trust Company, with deposits of about $2,700,000, remained closed today The institution was combination of the former West Haven Bank Trust Company and the Home Bank & Trust Company, which merged last April with a capital $100,000. The State Manual listed savings deposits of $1,875,375.38. commercial deposits of undivided profits of $47,777.94 and surplus of $30,770.67. Real Estate Exchange Lincoln BANKRUPTCY PETITIONS SLIPPER COMPANY. 320 and 384 Knickarbocker Ave.: involuntary. Liabilities alKings Highway: involuntary. Liabilities LOUIS LONSTEIN as BESSEL BABY CARRIAGE STORE, 339 Broadway: involuntary. Liabilities alleged. $1,277. NUGENT SHOE COMPANY INC., 77 Hall St.; involuntary. Liabilities alleged. EZRA HODOS as HODOS DEPARTMENT STORE. 140-20 Rockaway Boulevard. South Ozone Park: voluntary Lis. bilities about $7,000: assets. about $3,000. LOUIS HOLLANDER, grocer. 81-91 Bay 22d St.: voluntary. $115 MORRIS KAUFMAN, 6516 Bay Parkway: voluntary. Liabilities, $2. NELSON SPRINGER reporter. 30-01 39th Ave., Long City: voluntary Liabilities, $1,143; assets, $200.

2. March 9, 1932 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, March 9, 1932

Click image to open full size in new tab

Article Text

Permission to file an appeal to the supreme court of errors from the decision handed down last week by Judge John Richards Booth in the case of the Investment Securities company against the Kazemekas & Co, Inc, is included among the short calendar motions to be heard this Friday morning. The appeal is sought by the Waterbury National bank, recelver for the Kazemekas Co, Inc, local bank, which suspended shortly after the Merchants Trust Co: The Investment Securities Co asked the superior court to restrain

3. March 9, 1932 The Waterbury Democrat Waterbury, CT

Article Text

Encroaching Of Property Denied By Kazemekas & Co. South Leonard Street Property Involved-Several Motions to Set Aside Heavy Verdicts Also Come Before Friday's Session of Superior Court Permission to file an appeal to the supreme court of errors from the decision handed down last week Judge John Richards Booth the case of the Investment Securities company against the Kazemekas & Co, Inc. is Included among the short calendar motions to be heard this Friday The appeal is sought by morning. the Waterbury National bank, receiver for the Kazemekas Co, Inc, local which suspended shortly after the Merchants Trust Co: The Investment Securities Co asked the superior court to restrain the Kazemekas company from encroaching onto its property on South Leonard street. It was explained by Heatey & Healey plaintiff's counsel. that the building which housed the bank encroached some several feet onto the property of the Investment company. Judge Booth upheld the claim and issued the injunction. While the case was in litigation, the bank suspended and the Waterbury National bank was appointed receiver. The latter bank and Attorney Francis P. Guilfoile, appearing for the Kazemekas company are expected to argue granting of the appeal at Friday's session. Several other matters of importance are included on this week's short calendar. There motion to set aside the verdicts totaling $12,000 awarded Archie and Anna Mazziotte against the Bridgeport & Waterbury Passenger Service, Inc. The verdicts were awarded last week by superior court jury for injuries Mrs Mazziottte claimed she suffered in bus collision at Beacon Falls At. torney Vincent A. Scully filed the motion to Net aside and Attorney Clayton L. Klein will oppose it. Another motion to set aside the verdiet is filed in the case of Mabel E. Lawson against the City of Waterbury. The city won the case when it was tried last week when Judge Frederick M. Peasley granted a motion for directed verdict favor of the city. Corporation Counsel Charles S. "Cononr and his assistant, Attorney Vincent A. Scully will argue against the granting of the motion. Attorney Francis P. Gullfolle will argue for the granting of the motion.

4. March 23, 1932 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, March 23, 1932

Click image to open full size in new tab

Article Text

Kazemekas Depositors Plan Mass Meeting Anxious to Aid Receiver in Straightening Accounts of Bank Depositors of the Kazemekas & in the bank and as soon as possible Co bank which suspended around will call a meeting. The Lithuanian Citizens' Politilast Christmas time, are planning to hold a meeting in the near fucal club, from whose members the above named committee was drawn ture to discuss plans for assisting the receiver, the Waterbury Nais one of the active organizations behind the movement. The meettional bank, in any way possible in the preservation of the bank's asing is not to be a protest in any sets. A committee has been manner, but simply a meeting to formed consisting of Thomas Maexplain the receivership procedure tas, Matthew Vosylius, Peter Kruand to assure the receiver of any gelis, William Jakubonis and Wilassistance that is desired. liam Wasilauckas, which is getting a list of the 1.200 depositors FULL WEATHER REPORT

5. March 31, 1932 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, March 31, 1932

Click image to open full size in new tab

Article Text

Motions seeking permission to close the banking quarters of the Sanditz and Traurig and the Kazemekas & Company banks will be heard at the short calendar session of the superior court before Judge Newell Jennings tomorrow morning at 10 o'clock. The requests are sought by the Waterbury National Bank, receiver for both banks which were close by order of the state banking commissioner several months ago. A. L. Edmond, cashier at the Waterbury National Bank, stated that both institutions were automatically supposed to have been closed when the state bank order

6. April 4, 1932 The Waterbury Democrat Waterbury, CT

Article Text

ASSETS OF BANKS TOTAL $734,905.04 Sanditz-Traurig And Kazemekas Co. Figures Public Mortgage Loans High in Both Defunct Institutions— Thousands of Dollars Listed Deposited in Savings Department of Both Institutions Inventories of the closed Sandits & Traurig and the Kazemekas & Co banks were filed to-day in superior court by the Waterbury National bank, receiver for both institutions. The report shows the assets in the Sanditz Traurig bank as $306,446.95 and in the & Co bank as $428, 458.09. These are listed as the values, The reports on both banks will be filed within a couple of weeks. Included among the assets of the Sanditz bank is certificate of deposit in the Merchants Trust $40,000. The certificate in the Merchants Trust Co is listed as $10,- One of the large items in the assets of the the loans, listed as 625.00. The report shows that Kazemekas bank has on deposit in cash in the Merchants Trust Co, $2,884.40. Cash hand in the Kazemekas bank is listed as $33.706.71 and the cash in the Sanditz bank is listed as $41,010.40. The inventory of the Sanditz bank as follows: Cash, Items and cash in bank. $41,010.40; securities, $33,820.60; real estate, $40,111.30: demand loans, $47,629.57; industrial loans, $14,902.02: Industrial loan repayments, included by the bank examiners. $20,301.70; mortgage loans, $89,005.40: and equipment, $19,665.96. The bank has deposits in the amounting to $156,381.01 and Christmas club accounts to $1,746. Inventory of the Kazemekas tank as follows: $33,Cash, 706.71: stocks bonds. $22,137.38; bond state, estate, $51,000; time and demand loans, $17,058; industrial loans, $33,644.50; mortgage loans, $182.equipment. The Kazemekas bank has deposits in the savings amounting to $307,992.12 and Christmas savings club accounts amounting to $713.30.

7. October 17, 1932 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, October 17, 1932

Click image to open full size in new tab

Article Text

Statements of the receipts and expenditures of the Sanditz & Traurig and Kazemekas & Co, closed banks during the two months period of July 31 to Sept 30th were filed in superior court today by the Waterbury National bank, receivers for both institutions. The report shows $4,659.14 was received in the Sanditz bank, out of which expenses amounting to $685.03 were paid. In the Kazemekas bank, $3,099.08 was received and $2,553.54 was expended. Included among the expenditures of the Kazemekas bank is $1,923 paid

8. December 12, 1932 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, December 12, 1932

Click image to open full size in new tab

Article Text

Payment of a dividend to depositors of the Kazemekas & Co. Inc, bank is very doubtful at this time, Attorney L. Russell Carter, counsel for the receiver for the closed corporation, stated today. Mr Carter filed a motion in court in behalf of the receiver, the Waterbury National bank, asking instructions as to the payment of a dividend. Mr Carter stated that while the receiver has approximately $29,000 'in cash on hand, it is thought un'likely that a dividend will be paid out. He explained that his cash is needed for protection of the assets on hand. Mr Carter pointed

9. June 14, 1933 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, June 14, 1933

Click image to open full size in new tab

Article Text

Directors of the Kazemekas Co. (Continued from Page 1.) If the court grants the motion filed today, it will mean that the directors of the bank which closed the same time as the Merchants Trust Co. in 1931 will be required to come into court and answer questions relative to the operation of the bank prior to its suspension. The directors of the bank are relatives of the late Mr Kazemekas. The Waterbury National Bank, receiver for the Kazemekas & Co., last week was authorized by court to pay a 10 per cent dividend to all depositors of the bank. It marked the first dividend payment to depositors since the bank closed.

10. November 24, 1933 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, November 24, 1933

Click image to open full size in new tab

Article Text

RECEIVER GIVEN ADDED ALLOWANCE Atty L. Russell Carter, counsel for the Waterbury National bank, receiver for two closed banks was granted an additional allowance of $2,250 for his services bver a year and a half period by Judge Newell Jennings in superior court today. Mr Carter was given the same amount a year ago in June. Judge Jennings stated the amount sought was reasonable and fafr considering the amount of work done by the receiver's counsel. The Waterbury National bank is receiver for the Sanditz & Traurig and Kazemekas & Co. banks.

11. March 7, 1934 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, March 7, 1934

Click image to open full size in new tab

Article Text

Reports of receivership opera tions for the Sanditz & Traurig and Kazemekas & Co banks were filed in superior court to-day for the month of February. The Waterbury National bank is receiver for both companies. In the Sanditz & Traurig receivership, the receipts were $2.205.94 with disbursements of $1,518.22. In the Kazemekas & Co case the receipts were $816 with disbursements of $238.33. Included in the receipts were rent collections amounting to $536. Cash on hand in the Kazemekas case is $3.977.39. Cash in the Sanditz & Traurig receivership is $2,895.28.

12. December 7, 1934 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, December 7, 1934

Click image to open full size in new tab

Article Text

RECEIVER'S ATTY SEEKS ALLOWANCE Attorney L. Russell Carter, coursel for the receiver for the Sanditz & Traurig and the Kazemekas & Co banks presented an application for allowance for services rendered in the receiverships, to Judge John A. Cornell in superior court Judge Cornell took the to-day. matetr under advisement when the attorney said he will file a statement showing an accounting of his services rendered. Mr Carter is counsel for the Waterbury National bank. receiver for both the Sanditz & Traurig and the Kazemekas & Co banks.

13. January 14, 1935 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, January 14, 1935

Click image to open full size in new tab

Article Text

December reports of the Sanditz & Traurig and Kazemekas bank receiverships were filed by the receiver, the Waterbury National bank, in superior court today The reports show- more expenditures than receipts in each case because deductions were made for counsel fees to Attorney L. Russell Carter and for reimbursements to the receiver for moneys paid out to its clerks in the operation of hte receivership. Receipts in the Kazemekas & Co. receivership, amounting to $905.98. include: Industrial loan payments, $22; time and demand loan payments, $182; interest, $67.73; rents,

14. September 4, 1936 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, September 4, 1936

Click image to open full size in new tab

Article Text

Kazemekas Co. Bank Receiver Seeks Aid Waterbury National Banks Wants Advertising Call for Bids-Offer Already Made for Assets of Bank With sealed bids for the purchase of the remaining assets of the LABOR CRISIS IN Kazemekas & Co., bank due to be filed in superior court by the 22d, the receiver, the Waterbury NaSTATE, NATION tional bank, asked the court today for instructions in regard to the advertising of the call for bids. The request for instructions was filed State Federation Is Close= by Attorney L. Russell Carter, the counsel for the receiver, and will be ly Allied With Trouble in acted on when Judge Patrick B. O'Sullivan opens the superior court A. F. of L. Smash term here next Friday. Meantime. an offer of $6,500 for property of Middletown, Conn., Sept. 4-(UP) the company on Bank street has -President Thomas J. Shea of the been received. Connecticut Federation of Labor, Shortly before the court year today announced he would do all closed in June, the receiver inpossible to aid in the reelection of formed Judge Edwin C. Dickinson President Roosevelt. The federation that a bid of $49,346.98 in cash for has a membership of 80,000 and conthe remaining assets of the closed venes Sept. 14 at Bridgeport for a four-day session of unparalleled (Continued on Page 4.)

15. September 21, 1936 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, September 21, 1936

Click image to open full size in new tab

Article Text

BIDS CALLED FOR ON BANK ASSETS Sealed bids for the remaining assets of the Kazemekas & Co. private bank must be submitted to the receiver, the Waterbury National Bank, by 10 o'clock tomorrow. Acceptance of the bids will be ruled on in superior court. The call for bids was ordered in superior court here last spring by Judge Edwin C. Dickenson after he had instructed the receiver to decline an offer made on behalf of an unidentified client by Bronson, Lewis & Bronson.

16. September 26, 1936 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, September 26, 1936

Click image to open full size in new tab

Article Text

Kazemekas Co. Bank's Assets Bring $62,565 Additional Dividend Now Available for Depositors; Court Approves Sale for Highest Bid With a bid that brought more than $10,000 more to depositors than the next highest amount offered, Attorney Milton Meyers yesterday afternoon purchased the remaining assets of the Kazemekas and Company private bank for $62,565. His bid was the highest of five submitted to the receiver, the Waterbury National Bank, and opened in superior court yesterday afternoon at the direction of Judge Patrick B. O'Sullivan.