American Bank & Trust Company (St Petersburg, FL)

Episode Information

Episode UID
63007671588
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
6300767 routing
Routing Number
63-0076
Start Date
April 29, 1932
Location
St Petersburg, Florida (27.771, -82.679)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
0a37c53d86b15b89

Response Measures

None

Description

Bank closed April 29 and a liquidator is referenced; no article describes a depositor run.

Events (2)
1. April 29, 1932 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed April 29 amid insolvency of president A. P. Avery; bankruptcy petition and asset shortfall led to suspension
Newspaper Excerpt
closing of the American Bank and Trust company ... at the bank's April 29
Source
newspapers
2. May 1, 1932* Receivership
Newspaper Excerpt
Guy B. Shepard, as liquidator for the American Bank and Trust company, ... appointed as liquidator/manager of liquidation proceedings
Source
newspapers

Newspaper Articles (5)
1. May 18, 1932 Tampa Bay Times St. Petersburg, FL

Article Text

BANKER, TELLS OF HIS DEALS Listed Assets of $252,168 Appraised at $1,214 at Bankruptcy Hearing FINANCIAL AFFAIRS of Avery from the time of his pioneering days in Petersburg up to the closing of the American Bank and Trust company, of which he president, were related in detail at hearing on his petition in bankruptey at Tampa Tuesday. Although admitting he kept record of personal financial transactions for three years prior to the bank's April 29, other in business career. Avery repeated several times the examination had to because he "never anybody "Played Game Square" didn't every Tom, Dick Harry: played the game Avery told examining torneys Referee H. Baya, the proceedings. "There any reason keeping records. always took them burned them after five months." Avery filed voluntary petition bankruptcy the Tampa federal district court last April which nearly score creditors are Principal among them the closed First National and Ameribanks Petersburg and the First National bank Tampa The meeting the creditors held before Referee May Luther W. Petersburg appointed trustee. petition originally scheduled liabilities aggregating and assets of claimed homestead emption real $750 property exempThe trustee's appraisal of the brought the hearing This figure Questioned Two Hours nearly Tuesday afternoon Avery of firm Arthur which reprereceiver National disclosed that stockholder Column

2. May 22, 1932 Tampa Bay Times St. Petersburg, FL

Article Text

AVERY BANK BOX WILL BE OPENED BY COURT ORDER Contents Will Be Revealed Monday; Bankruptcy Case Continues Investigation of creditors in the A. P. Avery bankruptcy proceedings Saturday led to safe deposit box in the Florida National bank in the name of Avery's wife, Mrs. Tilla B. Avery. when Referee H. P. Baya is sued an order for examination of the box. The box, it was learned, will be opened during banking hours Monday in the presence of the trustee in bankruptcy, Luther W. Jones, Avery,an Mrs. Avery, the creditors and their attorneys. Issuance of the order by Referee Baya is.said to have followed series of examinations in the case after hearing Tuesday in Tampa in which Avery was grilled at length on his financial affairs previous to the closing of the American Bank and Trust company. of which he was Voices No Objection Mrs. Avery, it was stated, voiced no objection to the examination of the box. The only safe deposit box brought into the case the hearing Tuesday was one in Mrs. Avery's name at the American bank, to which Avery had access, at the time of the bank's suspension. During the hearing it was disclosed that the former bank president had been stockholder in sev. eral local enterprises in récent years but his actual investment, profits or losses in most of them were not ascertained. Avery repeatedly stated he had "nothing to hide" because he "never owed anybody anything.' He testified that he never kept any records in his transactions adding he "always took them out and burned them after five or six months." The West Coast Paving company. of which Avery held third interest with W. J. Overman and Dixie M. Hollins, and the General Sanitarium and Espiritu Santo Springs at Safety Harbor. were among several enterprises figuring in the testimony. Avery said he "sunk about $250,000" in the latter and denied he ever received any "fabulous sums, as reported. from the others. His petition in bankruptcy originally scheduled assets of $252,168.50 and liabilities in the amount of $234.364.05. The assets figure was later revised to approximately $200,000. and the trustee's report appraised the assets at $1,214.49. Principal creditors are the closed First National and American banks here and the First National bank in Tampa.

3. August 27, 1932 Tampa Bay Times St. Petersburg, FL

Article Text

BANK RECEIVER AWAITING WORD ON MORATORIUM Foreclosure Proceedings Suspended for 60 Days By Federal Comptroller M. Anderson. receiver for the two closed national banks here, Friday night that had no instructions from Washington connection with the plan to adopt 60-day moratorium mortgage foreclosures on homes throughout the country. Shown an Press dispatch the was to elaborate the effect the suspension might St. Petersthe receiver that the bulk of by the two national banks here on homes had been completed. Have Humane Effect "On the basis this Anderson said, contemplate difficult timate nature of those instructions don't doubt but that as outlined the dispatch will effect quarters, but in St. Petersburg would not attempt estimate how beneficial it might be. only natural assume that in the course two years liquidation claims the Central National and First banks in St. Petersburg against homes have been reduced to possession," adding that 50 homes have been involved liquidation of the institutions. Guy Shepard. liquidator for the American Bank and Trust company, also refused estimate any beneficial results that might accrue the suspension plan, but indicated that the bulk foreclosures on also completed. "The proposition is encouraging," Shepard. He added large number persons had called on him connection finding and means of their from mortforeclosures, only by his but individuals and instiwell. said he had been the Reconstruction Finance corporation pleas of his inquirers, but refused contents of answers from the

4. October 5, 1933 Tampa Bay Times St. Petersburg, FL

Article Text

JUDGE VACATES DAYTON DECREE IN HOTEL CASE Hobson Grants Rehearing to Gorovs, Who Seek to Halt Foreclosure Mr. and Mrs. James Gorov. plaintiffs in suit against Guy B. Shepard, as liquidator for the American Bank and Trust company, to halt foreclosure proceedings on the Crawford hotel property, 717 Central avenue, won an important point in their case Wednesday when Circuit Judge T. Frank Hobson granted petition for rehearing of the case and vacated final decree handed down by Circuit Judge O. L. Dayton last June. The petition for rehearing was filed by the law firm of Lambdin & Ramseur, who, with E. B. Ellis and E. C. Watson, are representing the plaintiffs. After vacating Judge Dayton's decree, Judge Hobson issued a modified decree which, among other things, authorizes the plaintiffs to oppose further the foreclosure proceedings which have been started by Merie Cook, as substitute trustee. Cook, named substitute trustee under the decree signed by Judge Dayton, who has since retired from the'circuit court bench. retains that position under Judge Hobson order. Fighting Foreclosure Granting of the petition for a rehearing opened the way for the plaintiffs to resume their fight to stop foreclosure action. They are seeking reconveyance of the property instead of a foreclosure on the grounds that the reconveyance procedure would cost only about $300 white the foreclosure action would cost about $3,000. Mr. and Mrs. Gorov are bondholders. In asking for the rehearing. counsel for Mr. and Mrs. Gorov alleged that the decree naming Cook substitute trustee was entered without notice and without opportunity for them to examine or object to the appointment. They also alleged that the case bond issue of approximately $93,000 and no bond was required to be posted by Cook. The substitute trustee is said to have advertised the hotel property for sale and the plaintiffs claim that the sale, If permitted, "seriously jeopardizes" the interests of the holders of the $93,000 worth of bonds. Other Cases Assigned Judge Hobson's docket for today and Friday follows: Thursday: Clem S. Benner vs. Margaret Benner, divorce: E. E. Rieck, et al, VS. George W. Beach, trustee. motion: Catherine M. Brown vs. Bennett A. Stewart. motion for decree pro confesso: Pass-a-Grille Beach vs. Florida Bond Exchange, motion to dismiss: Tax Securities corporation VS. Anderson Band Saw company, petition for rehearing Friday: Martha H. Townsend VS. Thomas G. Townsend, final hearing on alimony and attorney's fees; John F. Carson vs. F. M. McClintock, motion to amend bill, motion for appointment of receiver, and motion for decree pro confesso; Ethel Ann Chalker V8. Cramer B. Potter, motion for modification of decree.

5. October 20, 1933 Tampa Bay Times St. Petersburg, FL

Article Text

JUDGE TO RULE SATURDAY UPON SALE OF HOTEL Crawford Case Creates Much Interest: Many Lawyers Attend Hearing Whether or not the Crawford hotel on Central avenue will be sold Nov as advertised by Merle Cook substitute receiver, to satisfy bond issue will be decided by Judge T Frank Hobson in circuit court here Saturday morning Judge Hobson Thursday granted motion by Attorney H. W Hol. land, representing Cook and Guy B Shepard, as liquidator for the Amer ican Bank and Trust company. and Pearl Wallace Crawford. owner of the hotel, to dismiss an amended supplemental bill of complaint filed by Walter G. Ramseur and Carl Lambdin on behalf of a group of the hotel's bondholders, on the ground that the 1931 chancery act of the state of Florida provides that in filing suit the opposing must given notice before the bill filed. Holland contended that Lambdin and Ramseur and other for the bondholders failed to him, as the opposing counsel such notice of the filing of the bill Saturday Is Date The dismissal of the amended bill. however, does not mean the sale of the hotel will be allowed to proceed, for Judge told Attorneys Lambdin and Ramseur they could give Attorney Holland notice and then refile the same bill Judge Hobson set Saturday morning at 10 o'clock as the time for hearing of motion to stay the foreclosure sale. A number of represent. ing the bondholders attended the hearing Thursday and there has been great deal of interest in the case, due to the that large part of the $93,000 bond issue on the hotel is held by local people and because of the fight that has been made against the appointment by former Judge O. L. Dayton of Merie Cook as substitute trustee. The case appears on the court record as Mrs. Bess Gorov, joined by her husband, J. James Gorov, and other bondholders, Guy B. Shepard, as liquidator for the American Bank and Trust company. and others, and Pearl Wallace Crawford, owner of the hotel. Mrs. Gorov brought the suit to halt the foreclosure proceedings, contending that the foreclosure will cost not less than $3,000, while a reconvey she can work out refunding of the hotel's debt, would cost not more than $300. Coslick Case Up In the case of the Union Trust Coslick and others, on application for bond ing an appeal to the supreme court from the local court action in pointing receiver for the Albemarle hotel. Judge Hobson granted the petition and fixed the amount of the supersedeas bond at $12,500 Frank M. Harris, representing the trustee. filed the application for the bond and has already filed his appeal with the court Paul Stansbury represents the defendants in the