gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e0b5d3ff0396c59b
Response Measures
None
Description
Bank had already been closed and in receivership before these articles; reorganization efforts failed and assets were liquidated.
Events (5)
1.January 11, 1932Receivership
Newspaper Excerpt
The sixth report on the progress made in winding the affairs the Commercial Bank has been filed by Crider, the receiver in the corporation court.
Source
newspapers
2.February 25, 1932Other
Newspaper Excerpt
Depositors of the Commercial Bank & Trust Co. will hold a meeting ... when a plan to re-open the institution, which closed some time ago, will be discussed.
Source
newspapers
3.June 9, 1932Other
Newspaper Excerpt
A total of $119,500 is to be distributed among depositors of the defunct Commercial Bank & Trust Co., under a decree issued by Judge Henry Leigh.
Source
newspapers
4.July 8, 1932Other
Newspaper Excerpt
The Commercial Bank & Trust Co.'s building ... has been purchased by the American National Bank & Trust Co. for $31,100.
Source
newspapers
5.*Suspension
Cause Details
Bank had previously ceased operations; articles do not attribute closure to a run or specific scandal.
Newspaper Excerpt
which closed some time ago
Source
newspapers
Newspaper Articles (12)
1.January 11, 1932The BeeDanville, VA
Article Text
Bank Receiver Makes Report On Commercial
The sixth report on the progress made in winding the affairs the Commercial Bank has been filed by Crider. the receiver in the corporation court It one of the shortest far and reflects progress in the liquidation of the Judge Leigh has approved step termed greatly to the inter. est depositors and creditors paying to the Union Mutual Build ing and Loan on serial loan $2,375 in the form weekly installments The court also the ceiver to draw for himself $2,500 credited on commissions earned.
2.February 25, 1932Evening StarWashington, DC
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Article Text
REOPENING'OF DANVILLE BANK TO BE DISCUSSED Special Dispatch to The Star. DANVILLE, Va., February 25.-Depositors of the Commercial Bank & Trust Co. will hold a meeting here Monday when a plan to re-open the institution, which closed some time ago, will be discussed. A tentative plan has already been drawn up by some of the depositors and stockholders. E. P. Crider, former cashier and receiver, reports that he has paid off all outstanding indebtedness and that collection of outstanding paper has produced a fund of $40,000, the nucleus from which the distributions will be made if the bank is to be liquidated.
3.June 9, 1932Evening StarWashington, DC
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Article Text
Depositors to Get $119,500. DANVILLE, Va., June 9.-A total of $119,500 is to be distributed among depositors of the defunct Commercial Bank & Trust Co., under a decree issued by Judge Henry Leigh and entered in the Corporation Court. The document calls on Edwin Meade, receiver for the institution, to distribute the amount on hand, this being the above amount. The order is generally viewed as doing away with the plan for reorganization of the institution.
4.June 18, 1932Evening StarWashington, DC
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Article Text
Bank Assets Distributed. DANVILLE, Va., June 18 (Special).- Distribution of $120,000 among depositors of the Commercial Bank & Trust Co., which closed some time ago, was begun today by receivers for the institution. The sum represents the 15 per cent dividend recently authorized by Judge Henry C. Leigh. Approximately 3,000 checks have been mailed out by E. B. Meade and Frank Talbott, the receivers.
5.July 8, 1932Evening StarWashington, DC
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Article Text
Bank Assets Sold. DANVILLE, Va., July 8 (Special) The Commercial Bank & Trust Co.'s building, together with the vault and other banking equipment, has been purchased by the American National Bank & Trust Co. for $31,100. The only other bid received was that of the Danville Loan & Savings Bank, which offered $30,000. The proceeds from the sale of the bank will be placed in the general fund into which is going all sums realized by the receivers in liquidation of the assets of the Commercial Bank, which closed some months ago. Recent reorganization plans fell through. The American National Bank plans to move from its present location a block away into the new quarters if the sale is ratified by the judge of the Corporation Court.
6.December 20, 1932The BeeDanville, VA
Article Text
More Collections Made By Receiver Commercial Bank
The receivers the Trust have Ned report with Judge Henry who has approved The report makes but financial debtor gradually liquidated by Talbott and EdMeade the The receipts hand now to
7.April 13, 1933The BeeDanville, VA
Article Text
Commercial Bank Receivers Make Monthly Report
The receivers Bank and Trust Company their Judge Henry corporation court, this showing that Messrs Meade Talbott up affairs the bank have cash balance total collections negotiable paper during the month of March amounted added to the isting assets on hand made total The during the month The realization paper slower than but the have been collected for The latter are represented by mortgages be pressed too quickly the value of realty
8.April 14, 1933Danville Register and BeeDanville, VA
Article Text
Bank Receivers File 31st Report
Edwin Meade and Frank Talbott, receivers for the Commercial Bank have just completed their thirtyfirst report to the corporation court of Danville, and the report has been filed with Judge Henry G. Leigh. The receivers have & balance on hand of $9,451.50, from which payment to depositors probably will be made at & later date. The repoit showed total collections on loans held by the bank to be $12,463.98 with disbursement of $12,128.15. The balance on hand at the beginning of March was $9,205.61.
9.May 13, 1933The BeeDanville, VA
Article Text
Bank Receivers File Another Report of Work
The report so far filed by the Commercial Bank and Trust Company the corporation court showing the gress arrived at winding up the affairs the bank approved by Judge Henry Leigh yesterday shows that the total collections made during the month of April amounted to added to the cash on made $16,850.91 Subtracting the costs of balance of is shown. The winding up the bank's fairs slowed
10.November 18, 1933The BeeDanville, VA
Article Text
Bank Receivers Asks Judgment On Three Notes
Receivers of the Commercial Bank and Trust Company yesterday entered the corporation against Neal and members his family recover principal and interest three promissory that Names defendants in the suit with Neal who for many years has identified the local toare Eliza Neal, Jack Neal, and Price docketed for the December term court.
11.June 10, 1934The Washington HeraldWashington, DC
Article Text
BANK TO REPAY
DANVILLE. Va., June 9 (Special) -Commercial bank receivers announced today that $79,000 will be paid depositors in two weeks. It will be the seventh dividend, bringing total disbursement to 3,300 people up to $597,000 since the bank closed.
12.March 12, 1935The Washington TimesWashington, DC
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Article Text
DEPOSITORS GET SHARE DANVILLE, Va., March 12 (Special.)-Receivers of the defunct Commercial Bank and Trust Company made another distribution among depositors yesterday. It amounted to $40,000 and brought the total distribution up to 80 per cent.
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.
