Commercial Trust Company (Gary, IN)

Episode Information

Episode UID
71121071586
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
7112107 routing
Routing Number
71-1210
Start Date
February 15, 1932
Location
Gary, Indiana (41.593, -87.346)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f8de68e95e5e425f

Response Measures

None

Description

Liquidating agent appointed and bank described as defunct; closure appears permanent.

Events (3)
1. February 15, 1932 Suspension
Cause
Voluntary Liquidation
Cause Details
Directors and stockholders recommended appointment of a liquidating agent; state banking commissioner appointed liquidator.
Newspaper Excerpt
LUTHER SYMONS, STATE BANKING commissioner, has appointed Perry H. Stevens as liquidating agent for the Commercial Trust company of Gary.
Source
newspapers
2. May 16, 1932 Other
Newspaper Excerpt
The United States Fidelity and Guaranty company of Maryland... payment for its surety bond on county deposits in the defunct Commercial Trust company of Gary. Both companies paid their surety bonds in full.
Source
newspapers
3. September 16, 1933 Other
Newspaper Excerpt
Federal Judge Thomas Slick held... ruling in which the United States Fidelity and Guaranty Co. sought to cover assets held by the bonding company from the Commercial Trust Company, Gary.
Source
newspapers

Newspaper Articles (7)
1. February 15, 1932 The Times Hammond, IN

Article Text

GARY TONIGHT THE GARY BOARD OF Works will act on a resolution confirming the improvement of sidewalks, curbs and gutters on Lake street, Miller, a special assessment project completed last summer at a cost of about $15,000. LUTHER SYMONS, STATE BANKING commissioner, has appointed Perry H. Stevens as liquidating agent for the Commercial Trust company of Gary. The appointment was made upon recommendation of the directors of the trust company and its stockholders. "OPTIMISM WAS THE KEYNOTE of the entire meeting" says E. A. Upham, manager of the Gary Sears Roebuck store upon returning from a convention of store managers held in Chicago. Merchandise and operating problems of the company were discussed with the national executives, territorial officers and supervisors. THE GLEN PARK DEMOCRATIC club will be addressed by four speakers at its meeting tonight at 11 East Ridge road. Mrs. Mary Grace Wells, township trustee, Robert G. Estill, prosecutor, Attorney S. Benedict of East Chicago and Attorney Thomas Hurley of Gary will be the speakers. AT ITS ANNUAL ELECTION OF officers in the Gary Labor Temple, John Leach was re-elected head of the Gary building trades council for another 12 months. Frank McCoy was named vice president, James J. Doyne was re-elected secretary and Kenneth Houtz was named treasurer.

2. February 15, 1932 The Times Hammond, IN

Article Text

LUTHER SYMONS, STATE BANKING commissioner, has appointed Perry H. Stevens as liquidating agent for the Commercial Trust company of Gary. The appointment was made upon recommendation of the directors of the trust company and its stockholders.

3. May 17, 1932 The Times Hammond, IN

Article Text

COUNTY IS RICHER BY $25,000 [SPECIAL TO THE TIMES] CROWN POINT, Ind., May 16.—The county treasurer was richer by $25,000 late this afternoon when two bonding companies paid in that amount of money on surety bonds which they had underwritten for county deposits in defunct banks. The Fidelity and Deposit company, of Maryland, forwarded a check of $10,000 to cover the surety bond which it had underwritten on county deposits in the closed National Bank of America at Gary. The other check of $15,000 came from the United States Fidelity and Guaranty company of Maryland, as payment for its surety bond on county deposits in the defunct Commercial Trust company of Gary. Both companies paid their surety bonds in full. The county is striving to obtain additional settlements on sureties underwritten by these two companies in other closed banks of Lake county.

4. May 17, 1932 The Times Hammond, IN

Article Text

COUNTY IS RICHER BY $25,000 [SPECIAL TO THE TIMES] CROWN POINT, Ind., May 16.—The county treasurer was richer by $25,000 late this afternoon when two bonding companies paid in that amount of money on surety bonds which they had underwritten for county deposits in defunct banks. The Fidelity and Deposit company, of Maryland, forwarded a check of $10,000 to cover the surety bond which it had underwritten on county deposits in the closed National Bank of America at Gary. The other check of $15,000 came from the United States Fidelity and Guaranty company of Maryland, as payment for its surety bond on county deposits in the defunct Commercial Trust company of Gary. Both companies paid their surety bonds in full. The county is striving to obtain additional settlements on sureties underwritten by these two companies in other closed banks of Lake county.

5. May 17, 1932 The Times Hammond, IN

Article Text

[SPECIAL TO THE TIMES] CROWN POINT, Ind., May 16.—The county treasurer was richer by $25,000 late this afternoon when two bonding companies paid in that amount of money on surety bonds which they had underwritten for county deposits in defunct banks. The Fidelity and Deposit company, of Maryland, forwarded a check of $10,000 to cover the surety bond which it had underwritten on county deposits in the closed National Bank of America at Gary. The other check of $15,000 came from the United States Fidelity and Guaranty company of Maryland, as payment for its surety bond on county deposits in the defunct Commercial Trust company of Gary. Both companies paid their surety bonds in full. The county is striving to obtain additional settlements on sureties underwritten by these two companies in other closed banks of Lake county.

6. May 17, 1932 Vidette-Messenger of Porter County Valparaiso, IN

Article Text

LAKE COUNTY GETS $25,000 SURETY FEES CROWN POINT, May county treasurer was richer $25.000 Monday when two bonding companies paid in that amount monon surety bonds which they had underwritten for couny deposits in defunct banks. The Fidelity Deposit company, of Maryland, forwarded check $10,000 cover the surety bond which had underwritten county deposits in the closed Naon tional Bank of America at Gary. The other check of $15,000 came the United States Fidelity and from Guaranty of Maryland, for its surety bond payment county deposits in the defunct Commercial Trust company, of Gary. companies paid their surety Both in full. The county strivbonds obtain additional ing to sureties underwritten by these companies in other closed banks Lake county. MUST SHOW FLAG REDS munists and other radicals the American flag at display cannot use Detroit their schools for their gatherings public resolution under the board of education. adopted

7. September 16, 1933 Vidette-Messenger of Porter County Valparaiso, IN

Article Text

SLICK ON SOUTH BEND, Ind., Sept. bank receivers have class assets, no authority held trust an agent funds Federal Judge Thomas Slick held late Thursday. His ruling the which the United States Fidelity and Co. sought to Guaranty held by the cover National Bank of America, Gary check was Bonding from the Commercial Trust Company, Garly.