Bank of White Haven (Whitehaven, MD)

Episode Information

Episode UID
65026771464
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
6502677 routing
Routing Number
65-0267
Start Date
December 14, 1921
Location
Whitehaven, Maryland (38.269, -75.791)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
9117e8dad9db33bf

Response Measures

None

Description

Newspapers give slightly different dates for the closing (mid-December 1921 vs. Dec 21, 1921).

Events (4)
1. December 14, 1921 Receivership
Newspaper Excerpt
Mr. Page left for White Haven Wednesday to take charge of its affairs as receiver under the State Banking act.
Source
newspapers
2. December 14, 1921 Suspension
Cause
Government Action
Cause Details
State Bank Commissioner ordered the bank closed because it was unable to meet obligations and reserves were below the legal requirement.
Newspaper Excerpt
WHITE HAVEN BANK SUSPENDS State Commissioner Closes Doors Of Institution ... closed its doors Wednesday by order of State Bank Commissioner George W. Page.
Source
newspapers
3. April 8, 1922 Other
Newspaper Excerpt
Depositors of the Bank of White Haven ... which closed last December, will receive a distribution of 50 per cent. under authority which the Circuit Court ... has given to State Bank Commissioner George W. Page.
Source
newspapers
4. February 3, 1924 Other
Newspaper Excerpt
The doors of the bank were closed on or about December 21, 1921 for paying checks against uncollected funds. All accounts have been liquidated except ... depositors being paid in full while the stockholders have not been reimbursed in full.
Source
newspapers

Newspaper Articles (3)
1. December 17, 1921 Democratic Messenger Snow Hill, MD
Article from Democratic Messenger, December 17, 1921

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Article Text

WHITE HAVEN BANK SUSPENDS State Commissioner Closes Doors Of Institution In Wicomico County. Unable to meet its obligations and with its reserve below the legal requirement, the Bank of White Haven, in Wicomico County, closed its doors Wednesday by order of State Bank Commissioner George W. Page. Mr. Page left for White Haven Wednesday to take charge of its affairs as receiver under the State Banking act. State banking officials said the reserve was below the requirement of $3,000 and the bank had been unable to pay checks, but was impossible to tell whether there would be a loss to stockholders or depositors. An examination of the institution's books already has been begun by John J. Ghingher, Deputy Bank Commissioner. The bank was organized two years ago with a capitalization of $10,000. W. H. Dolby is president and Mark S. Dolby is cashier. The bank has $20,000 demand deposits, State banking officials said, and $9,000 in savings deposits. Its surplus is $1,900. W. H. Dolby said Wednesday night that the bank had never paid dividends. He expressed confidence that neither stockholders nor depositors would lose anything. The state of the bank's affairs will not be known, it is understood, until a thorough examination has been made. The institution is the second State bank to close its doors in the last few weeks. The Lafayette Bank, of Baltid more, recently suspended operations and is now in the hands of Commissioner Page. o

2. April 8, 1922 Worcester Democrat and the Ledger-Enterprise Pocomoke City, MD
Article from Worcester Democrat and the Ledger-Enterprise, April 8, 1922

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Article Text

June 14 has been set as the date for the unveiling of the Francis Scott Key Memorial at Ft. McHenry, Baltimore. Brandywine, Del., April 3.-Public sale of the entire equipment of the duPont Company Farms on the Montchanin road, operated in connection with the Brandywine powder plant, is another step marking the abandonment of the historic powder plant on the banks of the Brandywine. This plant started 120 years ago, which h.as been idle for some time, will not be put in operation again. Damages in the sum of $11,000,000 are sought of Henry Ford by Edward S. Huff, Maimi electrical engineer, in a suit initiated at Miami, Fla. Huff claims that he originated the magreto now in use on motor cars manufactured by Ford, and claims that Ford has not paid him in full for the invention. Mailed three years ago last Thanksgiving Day in France, a letter ad. dressed to Rev. T. C. Horn, Bloomsburg, Pa., just reached him. The letter was written by George Bailey, now of Waverly, N. Y., who was serv. ing with the American navy in French waters a few days after the armistice was signed. Since the let ter was written, the minister has been the guest of Bailey on several occa sions. Depositors of the Bank of White Haven Wicomico county ,which closed last December, will receive a distribution of 50 per cent. under authority which the Circuit Court of Wicomico county has given to State Bank Com missioner George W. Page, receiver Rotary Clubs of Dover, Del., Crisfield and Easton, Md., will be invited to attend the intercity meeting of the Rotarians in Salisbury on April 27th. The April term of the Circuit Court for Accomac county, Va., convened ai Accomac last Monday with Judge N. B. Wescott on the bench, Several murder cases and civil suits were on the docket and a busy week has been experienced. One of the largest and most enthusiastic meetings of business men and citizens took place at the Casino on Tuesday evening last, which meeting had for its purpose the organization of a Chamber of Commerce to further the interests of Cape Charles and Northampton county. The meeting was most enthusiastic and, approximately 175 present. - Eastern Shore News,

3. February 3, 1924 The Daily Times Salisbury, MD
Article from The Daily Times, February 3, 1924

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Article Text

TESTIMONY IN COUNTY BANK CASE HEARD Plaintiff And Defendant Present Evidence In Petition To Set Aside Mortgage Testimony in connection with the petition of Attorneys Woodcock and Webb, attorneys for George W. Page, State Bank Commissioner receiver for the defunct bank of White Haven to set aside $14,000 in mortgages on property of Mrs. Hilton W. Robertson was concluded today before Attorney S. R. Douglas, Examiner, who is transacting the testimony. The doors of the bank were closed on or about December 21, 1921 for paying checks against uncollected funds. All accounts have been liquidated except H. W. Robertson's notes endorsed by his wife, the depositors being paid in full while the stockholders have not been reimbursed in full. A few days after the doors of the bank closed, the Merchants Bank, Washington, D. C., took a $10,000 mortgage on Mrs. Robertson's property, the old Catlin Homestead, one of the oldest homes in the county. About a week following that, the Takoma Park, D. C., bank took a second mortgage of $4,000. The contention of receivers is that these liens were given in fraud of the other creditors, one of whom was the bank, by Mrs. Robertson. The contention of counsel for the bank is therefore that no valid consideration was given by the bank in exchange for the mortgage and that the paper is consequently void. The Merchants Bank is also said to have had obligations of the Motor Car Company, Washington, of which Robertson was president. The taking of the final testimony that of Cashier Gibson on the Takoma Bank, for the defense terminated today and the case is now ready to be submitted to Judge Bailey with argument. A decision is expected at an early date. The suit was instituted December 20, 1922. A. M. Jackson, attorney of this city representing the Merchants Bank, Washington; L. Atwood Bennett, the Takoma Bank and Clarence W. Whealton, Hilton W. Robertson and wife at the taking of testimony. Mr. Robertson is well known throughout the shore, having been a candidate on the Democratic ticket for the Congressional nomination a few years ago. He was formerly president of the White Haven Shipbuilding Co., of that town.