Central Industrial Bank (Waterbury, CT)

Episode Information

Episode UID
51008871622
Episode Type
Suspension โ†’ Closure
Bank Type
state
Bank ID
5100887 routing
Routing Number
51-0088
Start Date
February 1, 1935
Location
Waterbury, Connecticut (41.558, -73.051)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
014e0c824009bca5

Response Measures

None

Description

No newspaper text describes any depositor run; bank was closed and liquidated with a receiver and final dividends paid.

Events (4)

1. February 1, 1935 Receivership
Newspaper Excerpt
Attorney Walter D. Torrance of Carmody & Thoms, counsel for the receiver ... the liquidation of the Central Industrial bank; permission to sell ... was granted by Judge Frank P. McEvoy in superior court today.
Source
newspapers
2. February 1, 1935 Suspension
Cause Details
Bank had closed and was placed in liquidation; specific trigger for suspension not stated
Newspaper Excerpt
permission to sell $500 worth of Home Owners Loan bonds in connection with the liquidation of the Central Industrial bank
Source
newspapers
3. October 22, 1937 Other
Newspaper Excerpt
Decision was reserved on an application for an allowance to the attorney for the directors of the Central Industrial Bank, in dissolution. ... decision was reserved on an application for acceptance of the receiver's final account and discharge of the receiver.
Source
newspapers
4. March 26, 1938 Other
Newspaper Excerpt
Dividend Payment of a 2 1-2 per cent dividend to depositors of the Central Industrial Bank was approved in Superior Court yesterday ... The dividend, which will be the final one, will bring the total payment to 47 1-2 percent.
Source
newspapers

Newspaper Articles (3)

Article from The Waterbury Democrat, February 1, 1935

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Article Text

PETITION ENTERED ON BANK ACCOUNT e 3 Counsel for Receiver Is y Afraid Precedent Would , Be Established : e Judge Frank P. McEvoy ordered briefs filed in the claim presented 7 to him today asking that a series : of accounts under the name of 1 Rev Joseph Valdambrini in the ; Merchants Trust Co, be classified as deposits. The accounts amount to several hundred dollars. Father , Valdambrini had secured a draft 1 for their total value but the paper failed to go through the clearing ; house before the bank closed. S Attorney John B. Greco presented the claim. Attorney Walter D. Torrance of Carmody & Thoms, counsel for the receiver agreed y that the claim was justified and that the receiver believed the accounts should be considered as de< 1 posits, but that a serious precedent e would be established should such steps be taken. / He pointed out that there are a i number of such claims that could 1 be raised in the same manner against the receiver. He explained ; that when Attorney Francis T. I Reeves was receiver's counsel, a series of such claims were heard by State Referee Isaac Wolfe, by order of superior court and that he recommended that they be classified as common creditors. When Judge Arthur F. Ells accepted the. referee's report and judgment thereon entered, no appeal was taken within the time specified by law. Attorneys. in the case will file briefs in support of their claims. New Sidewalk Decision was reserved by Judge Frank P. McEvoy on the application of the receiver for the Merchants Trust Co asking authority to spend $450 to construct a new concrete reinforced sidewalk on the South Main street side of the bank, following a hearing in superior court today. Receiver's counsel, Attorney Walter D. Torrance explained that insurance companies have com. plained of the condition of the glass surfaced walk and that it would leave the bank and its insurer open to damage suits. Non-Support Case Decision was reserved by Judge Frank P. McEvoy on the contempt of court proceedings brought against Alfonse Gelinas of this city by his wife, Mabel Gelinas, following a hearing in superior court today. The defendant was ordered some time ago to pay $5 weekly for the support of his wife, pending the hearing of her divorce suit against him. The order, says her counsel, Attorney Joseph C. Guilfoile, was not complied with. The defendant, through his counsel, Attorney Henry J. Freeman, informed the court the man has no money to pay the order. HOLC Bonds Permission to sell $500 worth of Home Owners Loan bonds in connection with the liquidation of the Central Industrial bank, was granted by Judge Frank P. McEvoy in superior court today. Attorney Alfred L. Finklestein, counsel for the trustees in charge of the liquidation explained the money would be used to assist in winding up the affairs of the company.


Article from The Waterbury Democrat, October 22, 1937

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Article Text

Decision was reserved on an application for an allowance to the attorney for the directors of the Central Industrial Bank, in dissolution. In the case of the Waterbury Savings Bank against Michael T. Hayes and others, decision was reserved on an application for acceptance of the receiver's final account and discharge of the receiver. Mrs. Phoebe Mary Lanouette Soucy was granted an allowance of $50 to defend an action brought by Lionel Joseph Soucy. In the application in the case of the Waterbury Savings Bank against the heirs of John H. Cooney, and others, for acceptance of the receiver's final account and discharge of the receiver, decision was


Article from The Waterbury Democrat, March 26, 1938

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Article Text

Dividend Payment of a 2 1-2 per cent dividend to depositors of the Central Industrial Bank was approved in Superior Court yesterday by Judge Frank P. McEvoy. The dividend, which will be the final one, will bring the total payment to 47 1-2 percent. Judge McEvoy reserved decision on the request of Attorney Alfred Finklestein for payment for legal services as receiver.