gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e7dbee57b4c796d1
Response Measures
None
Description
The bank was closed by the state after the president's suicide and subsequently placed in receivership.
Events (2)
1.September 26, 1931Suspension
Cause
Government Action
Cause Details
Closed by the State Banking Department for an audit following discovery of the president's death.
Newspaper Excerpt
The Broadway Bank and Trust company ... was closed today for an audit by the State Banking department. A notice ... stating the bank suspended until further notice for the purpose of having an audit made.
Source
newspapers
2.January 12, 1932Receivership
Newspaper Excerpt
Receivers for the Broadway Bank and Trust Company were given permission today ... When the Broadway Bank and Trust Company went into receivership there was $24,564 on deposit in special account ...
Bank President Said To Have Committed Suicide
RICHMOND, Va., Sept. Broadway Bank and Trust company whose president, Hoffman, was found dead his bedroom yesterday, was closed today for audit by the State Banking department. A notice signed M. BrisLow, commissioner of banking and Insurance, was posted on the closdoors stating the bank suspended until further notice for the purpose of having an made. Coroner M. Whitfield returned verdict that the cause of Mr. Hoffman's death was suicide by gas.
2.September 26, 1931Sun HeraldBiloxi, MS
Article Text
RICHMOND BANK CLOSED
Richmond. Va., Sept. Broadway Bank Trust Company, whose president Hoffman, found dead in his bedroom yesterday, was closed today an audit by the state banking department. posted notice signed by Bristow, banking and said the bank was suspenduntil further notice for the purpose having an audit made. Coroner Whitfield returned verdict that the cause Mr. Hoffman's death suicide by gas.
3.September 26, 1931The Free Lance-StarFredericksburg, VA
Article Text
Richmond Bank Closed by State
RICHMOND. Sept 26 The Broadway Bank and Trust Company. whose president. found dead in his bedroom yesterday, was closed for audit by the State Bankday ing Department notice signed by M. BrisCommissioner of Banking and Insurance, was posted the closed doors stating the bank suspenduntil further notice for the of having audit made Coroner Whitfield returned verdict that the cause of Mr Hoffman's death suicide by gas. Bank examiners worked throughthe night in making an audit out and action on appointment receiver expected. The bank the last call statement, on June had $300,000 and undivided its $14,543 that time the bank had total deposits of $1,515,385 with checking counts and in savings accounts.
RICHMOND BANK CLOSED Broadway Bank and Trust Company, whose President L. W. Hoffman was found dead in his bedclosed today M Bristow Commisioner of Bank and Insurance. said the bank suspended until further notice the of an audit for purpose made
5.September 27, 1931Messenger-InquirerOwensboro, KY
Article Text
Virginia Bank Closed After President Kills Himself
Richmond, Va. Sept. The Broadway Bank and Trust company, whose president, W Hoffman, was found dead In his bedroom yesterday, was closed to day. notice signed by M Bris. of and insurance, was posted the ed doors stating the notice for the purpose having audit made Coroner M. Whitfield returnverdict that the of Hoffman's death was suicide gas
6.September 27, 1931The Paducah SunPaducah, KY
Article Text
President Dead, Bank is Closed
RICHMOND. VA., Sept. 26 The Broadway Bank and Trust Company, whose president, Hoffman, was found dead in his bedroom yesterday, was closed today. notice signed by M. E. Bristow, commissioner of banking and insurance, was posted on the closed doors stating the bank was suspended until notice for the purpose of having an audit made. Coroner M. Whitfield returned verdict that the cause of Mr. Hoffman's death was suicide by gas.
7.September 27, 1931The Tampa TribuneTampa, FL
Article Text
Richmond Bank Closed By President's Suicide
The Broadway Bank & Trust company, whose president, L. W. Hoffman, was found dead in his bedroom yesterday, was closed today for an audit by the state banking department.
A notice signed by M. E. Bristow, commissioner of banking and insurance, was posted on the closed doors, stating the bank was suspended until further notice for the purpose of having an audit made. Coroner Whitfield returned verdict that the cause of Hoffman's death was suicide by gas.
8.September 27, 1931The Owensboro MessengerOwensboro, KY
Article Text
Virginia Bank Closed After President Kills Himself
Richmond, Va., Sept. 26. The Broadway Bank and Trust company, whose president, W. Hoffman, was found dead his bedroom yesterday, was closed to day. notice signed by M. E. Briscommissioner banking and was posted on the closdoors stating the bank until notice for the purpose of having audit made. Coroner M. Whitfield returnverdict that the Hoffman's death was suicide by gas.
FOR
W. Hoffman, President of Institution, Was Found Suicide Friday
Va., Sept. 26. The Broadway Bank Trust Company, whose Hoffman, found dead his bedroom yesterday closed audit by the state banking posted notice signed by Bristow, commissioner banking and the bank suspended until further notice No purpose of having audit Coroner Whitfield returned verdict that Mr Hoffman's death suicide The Richmond clearing house which closed bank member. issued following statement the sudden the president Broadway Bank and Trust Company the clearing house association has had ficient time make detailed examination affairs bank evolve plan the tection the the banking department completes its investigaclearing house will promptly such interest positors although Mr. Hoffman secretary the association and leader the Virginia Methodist
RICHMOND BANK CLOSED. Richmond. Va., September -The Broadway Bank and Trust Company, whose President L. W. Hoffman, was found dead in his bedroom yesterday was closed today. M. E. Bristow, Commisioner of Banking and Insurance, said the bank was suspended until further notice for the purpose of having an audit
11.January 12, 1932The Richmond News LeaderRichmond, VA
Article Text
Receivers Allowed To Pay Court Costs
Receivers for the Broadway Bank and Trust Company were given permission today by order of Judge Robert N. Pollard, of the law and equity court, to pay the court costs in the case of R. Powell. assignee, against the Virginia Carolina Rubber Company, et als, in which it was shown that the bank was primarily responsible for payment of the costs, as the Powell claim was the claim of the bank When the Broadway Bank and Trust Company went into receivership there was $24,564 on deposit in special account to the credit of the city circuit court of Richmond in the suit, and also $715.36 to the credit of the receivers for the rubber company and special account of $209.07 from the sale of properties of the Virginia Carolina Rubber Company. The receivers asked permission to pay the costs in order that they might apply the sum to their deposit liabilities. Judge Pollard's order, entered in the law and equity court on Saturday, provides that on pay ment of the costs. the three special funds now standing to the credit of the circuit court. all amounting to $25,489.35 be cancelled and $4,088.28 be credited to the circuit court on the book of the bank receivers.
12.February 16, 1932The Richmond News LeaderRichmond, VA
Article Text
BANK RECEIVERS WILL PAY CLAIMS
Permission to Borrow Necessary Funds Granted by Judge Pollard.
Receivers for the Broadway Bank and Trust Company were authorized today by Judge Robert N. Pollard, in the law and equity court, to borrow not more than $25,000. to be used in the payment of certain preferred claims, and also to receive from the Fidelity and Deposit Comof Maryland, the sum of 585 in settlement of the company's liability on the depository bond of T. Todd. treasurer for Henrico county, on payment by the receivers of the amount of the Todd deposit. The court orders were based on receivers' reports, which showed that hen the Broadway Bank and Trust Company closed. T. J. Todd, as Henrico county treasurer. had deposited to his credit $9,515.51, secured by the bank with depository bond with the Fidelity and Deposit Company of Maryland in the sum of $10,000. and also by other bonds of a par value of $20,000, deposited by the Broadway bank with the Bank of Commerce and Trusts. when Mr. Todd said that his deposits might exceed $10,000. The deposits did not exceed that amount and the receivers asked court order authorizing the Bank of Commerce and Trusts to turn the bonds over to them. Authority was also asked to borrow $25 at the lowest obtainable rate of interest order to meet certain preferred claims and to pay from the loan the deposit liabilities of the Henrico county treasurer
13.May 3, 1932The News and AdvanceLynchburg, VA
Article Text
Would Borrow Money For Bank Depositors
Richmond. May the defunct Broadway Bank and Trust Company today filed application law and equity court for permission to borrow $225,000 make 25 per cent cash distribution depositors the bank. The proposed to borrow the money from the Corporation one year at the usual of interest. The had more than 8,000 depositors when went into last fall after the death W. Hoffman, president. Robert N. Pollard indicated he Judge would sign the order soon as he fully examined the papers.
14.July 23, 1932The Richmond News LeaderRichmond, VA
Article Text
STATUS UNKNOWN
Receivers Report Loan Application Made to Finance Corporation.
Receivers for the Broadway Bank and Trust Company were unable today to give any indication as to just how soon the depositors in the bank may expect to receive a dividend by the granting of a loan to the bank by the Reconstruction Finance Corporation The bank receivers, Latimer Gordon and Guy T. Hazelgrove, with the authority of Judge Robert N. Pollard, of the law and equity court, applied to the F1nance Corporation for a loan on May The application was followed by several conferences between the receivers and the finance corporation officials, but nothing definite has as yet been heard as to whether the application has been approved or not. While the receivers would not comment on their application for loan other than to admit that nothing has been heard from the Reconstruction Finance Corporation to indicate when it will be approved, the opinion was expressed in other quarters that the fact that the local hank was state bank, may have been a factor in the delay on the application. All of the loans so far made by the Reconstruction Finance Corporation are reported to have been made to national banks.
15.July 27, 1932The Richmond News LeaderRichmond, VA
Article Text
HOPE ABANDONED LOAN
Broadway Bank Receivers to Seek New Plan in Aid of Depositors.
Hope that the Reconstruction Finance Corporation act' favorably the request of the receivers of the Broadway Bank and Trust Company for loan of that might be given dividend has been practically abanwas today The application of the receivers was filed with the Finance Corporation in and has no indication the intention of acting the matter one way anothe, Leader the time the was collateral regarded than sufficient the $225,000 was deposited the Loans National Banks. The fact that thee loans advanced by the Finance Corporation almost invariably been that were in financial straits and seldom. banks already in receivers hands believed here militate against favorable action on the eloan to the Bank Trust Company The local bank state bank was receivership the loan was applied for, federal banks operating but shaky condition have been the recipient of loans under the policy of the Reconstruction Finance so far Meanwhile other plan for the bank depositors will sought the learned. The last general assembly enacted legislation under which the courts to apply for loans to the finance corporation, but the act was broad enough to give the the same power making loans from private banks.
16.September 29, 1932The Richmond News LeaderRichmond, VA
Article Text
Bank Receivers' Bond Is Reduced
The bond given by the receivers for the Broadway Bank and Trust Company is reduced from $500,000 to $250,000 under an order issued by Judge Robert N. Pollard and entered in the law and equity court today. The reduction in the amount of the bond was granted in view of the fact that so many of the obligations of the bank have been paid off. The receivers are Latimer Gordon and Guy B. Hazlegrove.
17.May 2, 1933The Richmond News LeaderRichmond, VA
Article Text
MARCH CONDITION REPORT FILED
Liquidation of Holdings at Present Would Result in Losses.
Receivers for the Broadway Bank and Trust Company have $34,826.24 in cash on hand and due from banks. according to the March report of the condition of the defunct Institution filed with Judge Robert N. Pollard In the law and equity court, by Guy B. Hazlegrove and R. Latimer Gordon. Of the total of $34,826.24 only $2,466.11 is in cash on hand. the balance being due from banks. The receivers had over $22.000 on deposit in the American Bank and Trust Company. The assets of the bank include large holdings of real estate and bonds which cannot be liquidated at this time without heavy loss to the depositors, but the receivers have disposed of number or real estute tracts under advantageous terms. The banking house and lot valued at $217,277.0 and other real estate and fixtures at $274,884.85. Bonds and included in the bank's assets total $376,483.30 Accounts Total $669,520. Deposits and accounts payable subject to dividend, to $669,520.44, are included in the liabilities of the Broadway bank, as well as $118,362.48, representing loan by the Finance and on which has been paid, according to the report. The receivership has been operated so far without cent of cost to the depositors, according to Latimer oGrdon, who added that the condition of the real estate and bond markets have against disposing of some of the assets which can be liquidated with far better results if the period of inflation which has been forecast materializes
18.January 5, 1934Richmond Times-DispatchRichmond, VA
Article Text
Bank Broadway Receivers Get Slash in Fees
Continued From First Page on notes, bonds and the Starke Founand Machine Company, and in 1933 they operated concern profit. Exclusive depreciation, they also operated the Broadway office building profit during 1933 "In my capacity as receiver am director the Lumber the States Investment and of regularly without am president and active the the and Ma"Mr. Hazelgrove and are receivers for Street Corporawhich owned 100 per the Broadway Bank and Trust Company, for our work in this connection. Mr. on to explain that and Mr. Hazelgrove aggregating for the the bank had of on the date and that has to dividends, off. took hold of ceivership which had to serof which matured paid with the loss the holders of the bonds, have talked to the larger denow hold the sum Decem1934 exception best interest that be not disposed list many foreign and bonds all being of business or the nature inflation would naturally securities more than it would if they Class To obtain additional revenue and the employ all sources the advantage, receivers recently in renting portion the main floor the bank building the Southern Bank Trust Company
19.January 5, 1934The World-NewsRoanoke, VA
Article Text
RECEIVERS' FEES ARE ORDERED REDUCED
Richmond, Jan. Latimer Gordon, of the receivers from the Broadway Bank & Trust Company, said yesterday fees the bank's receivers were ordered reduced early in December, effective the first the of by Judge Robert Pollard. of law year, and equity court The fees had been placed at $750 month for from September, 1931, to January 1934 Judge Pollard notified both receivers of the cut last month before the controversy arose over the receivership legal fee authorized in the American Bank and Trust Company case.
20.June 17, 1934Richmond Times-DispatchRichmond, VA
Article Text
Council to Get Receivers Plan Plan to Curb New Dividend Gun Carrying
10 Per Cent Distribution Is Made Possible by RFC Loan Totalling $80,000
General creditors of the Broadway Bank and Trust Company will receive second dividend distribution of 10 per cent, amounting to approximately $80,000. as result of a loan made to the bank's receivers by the Reconstruction Finance Corporation, it was announced yesterday. Judge Robert N. Pollard of Law and Equity Court is expected to enter an order Monday, making possible the sending out of approximately 6,500 checks by June 30 at the latest. The first dividend payment to general creditors was 15 per cent or approximately $120,000, which was secured from the Reconstruction Finance Corporation. This loan was repaid in full by the receivers. R Latimer Gordon and Guy B. Hazel- grove.
With the payment of this 10 per cent dividend. made possible by second RFC loan, together with funds accumulated by the receivers, the receivers will have paid to the unsecured depositors total of 25 per cent. If the payment by the receivers on claims recognized by law had been distributed generally. there would have been paid 57 per cent of the deposits and claims of the bank, the receivers stated yesterday. Future dividends will be paid just as soon as the receivers can make collections the bills receivable and other assets, and can advantageously dispose of securities held by them. it was announced by the receivers In the interest of economy. Judge Pollard is expected to instruct the receivers to mail all checks of $1 and more. and require depositors to call for checks of less than $1 at the office the receivers in the Broadway Bank Building Fifteenth and Main streets The Broadway Bank has been in receivership two years.
Ordinance Suggested Will Fix Heavy Fine, Jail Sentence for Offenders
Indiscriminate ownership and irresponsible possession of concealed weapons will be minimized. it is believed in official circles, by passage of an ordinance fixing fine and imprisonment for carrying concealed weapons, to be introduced in Common Council at is July session by Councilman Wilbur J. Griggs. The ordinance provides that "if any person carry about his person, hid from any pistol dirk, bowie knife, razor, slungshot, metal knucks or any weapon of like kind. he shall, upon thereof. be fined not less than $100 nor more than $500. or by in jail for not less than six months, or by both fine and imprisonment, to be imposed by the police justice The measure does not apply however. to any police officer. town or city sergeant constable sheriff notary public, conservator of the peace, or to carriers of United States mail in rural districts collecting officers while in discharge of official duty. The Circuit Court in county or the Corporation Court in city, upon written application and satisfactory proof of good character and necessity of the applicant to carry concealed may grant such permission for one year. The ordinance was drawn because of the large number of recent shooting and assault cases in Richmond Councilman Griggs is of opinion the severity of the punishment will deter indiscriminate carrying of concealed weapons.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.