gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
231fe683821065be
Response Measures
Accommodated withdrawals, Borrowed from banks or large institutions, Fed/other loan, Public signal of financial health, Full suspension, Books examined
Clearinghouse involved: Yes
(loan, examination, or other measures)
Receivership Details
Depositor recovery rate
52.4%
Date receivership started
1931-04-21
Date receivership terminated
1937-09-28
OCC cause of failure
Economic conditions
Share of assets assessed as good
28.8%
Share of assets assessed as doubtful
52.7%
Share of assets assessed as worthless
18.5%
Description
Run in June 1930 followed by closing in April 1931 and appointment of a receiver.
Events (5)
1.June 20, 1905Chartered
Source
historical_nic
2.June 10, 1930Run
Cause
Local Banks
Cause Details
Runs at the First National and First Security banks (local bank failures) triggered depositor panic and heavy withdrawals at Central National.
Measures
Bank met demand, backed by Federal Reserve; announced it would open for business the next day.
Newspaper Excerpt
Subsequently there was run on the remaining bank, the Central National Bank and Trust. Hundreds of persons crowded about the building seeking entrance so they could withdraw their money
Source
newspapers
3.April 17, 1931Suspension
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals and failure to obtain credit led to the bank's abrupt closing and placement under a national bank examiner.
Newspaper Excerpt
Central National Bank & Trust Company which closed its doors at ... after being open for business yesterday just one hour and five minutes. The national bank examiner will remain in charge until the Comptroller of Currency appoints receiver
Source
newspapers
4.April 21, 1931Receivership
Source
historical_nic
5.April 21, 1931Receivership
Newspaper Excerpt
the national bank examiner will remain in charge until the Comptroller of Currency appoints receiver for the closed bank. A receiver will likely be speedily appointed as this is the custom in closed national banks.
Source
newspapers
Newspaper Articles (18)
1.July 18, 1929Tampa Bay TimesSt. Petersburg, FL
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later formal statement SLIGHT FLURRY the which press in urged His follows: "St. Petersburg has always with. stood the effects any misfortune, AS RESULT OF financial or befalling institution institutions in other cities in the state, TAMPA CLOSING the fact the citizens of one city often alarmed
Plenty of Money to Depositor, Bank Officials Declare reputation for stability and safety. (Continued from "Anyone has kept in touch tional Bank does not effect the local with the institution or hamper its operations banks can see glance that they any manner. are and able to pay In its statement the clearing house dollar for dollar their depositors, said:
Clearing House Statement To the People Petersburg: The banks this city, being condition, not unmindful the present in certain particularly the situation several smaller which necessitated the closing of the Citizens Bank Trust company Tampa this said closing having ordered the directors the and the state banking department and protect the interests the depositors of that institution. The banks in this city, because the Tampa and the natfeeling of anxiety depositors might have locally, have issued orders withhold savings deposits for the being, asking the days' notice required. This does not affect for the business nor regular routine banking in any bank Petersburg. We feel explanation that the First National bank this city the affairs of the Citizens Bank Trust company Tampa due depositors the First bank this city. Although chairman of the board of the Citizens Bank Trust company Tampa chairman the board the First National bank of Petersburg, no financial nection two institutions. The First bank has only modets deposit in the Tampa bank. ST. PETERSBURG HOUSE By AVERY JOHN BROWN R. McCUTCHEON, JR. Excutive Committee
Not only assurances of assistance, needed. but actual cash in large quantities poured Petersburg yesterday afternoon and last night. close proximity Tampa caused banks New York and Chicago to wire direct their respondent banks here, offering any financial help that might be required. With the cash which this morning, more than lion dollars currency have reached city within than hours. This cash is make possible for depositors their money quickly they feel they just can't wait they least bit disturbed over condiin nearby localities. Associated Press dispatches sent from night ried details of the Tampa bank uation also listed banks filiated with Bank Trust throughout the north no bank connected Tampa will reassure interests that Petersburg sound in its banking situation, felt in clearing house Officials of the Clearing House last night said they were confident the crisis had and appealed to the people to about business making their deposits writing the essary checks on their and above not listen to idle street corner but come and talk their bankers they felt any unThe sending of approximately $5,000,000 currency west coast section from the federal serve banks meet the needs their member banks the statement by Creed Taylor, deputy ernor of the federal reserve bank of Atlanta that "the federal reserve bank will enough money Tampa pay depositor of the First National and the Exchange National Bank, necessary," his added that "both banks sound" much encouragement to those first inclined be faint hearted. Mayor Arthur Thompson, earlier the day crowd people gathered Cenavenue, them that the financial institutions were fectly and danger, and urging all to go about their business,
2.June 10, 1930Evening StarWashington, DC
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Article Text
BANK FAILURES TIE UP $4,500,000 DEPOSITS St. Petersburg, Fla., Has Only One Financial Institution Open, With Two Suspensions. By the Associated Press. ST. PETERSBURG, Fla., June 10.St. Petersburg was left with only one banking institution yesterday when two banks-the First National and Security -failed to open for business. Yesterday's failures tied up nearly $4,500,000 in deposits. The first National was capitalized at $1,000,000, with deposits of $4,160,000, and the First Security was capitalized at $50,000 and had deposits of $302,197. Unusually heavy withdrawals from the two banks during the past few weeks was given by directors as the cause of the closings. The First Security Bank was affiliated with the First National. The American Bank and the Ninth Street Bank recently failed here, leaving one operating out of a previous total of five. The bank which was still open yesterday, and which officers said would be open again today, is the Central National.
3.June 10, 1930Tampa Bay TimesSt. Petersburg, FL
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Hundreds Throng Avenue, Watching Uneasy Patrons As 2 Banks Fail to Open
The Sunshine City, June 1930.
Dear Folks: Central avenue was crowded today, just as it at the peak of the tourist season. There was reason. The First National bank, oldest financial Institution. closed its doors last night pending reorganization or liquidation, and the First Security, branch of the First National, failed to open its doors this morning. Subsequently there was run on the remaining bank, the Central National Bank and Trust Hundreds of persons crowded about the building. seeking entrance so they could withdraw their money from their checking accounts and give notice on their savings accounts. The bank. backed by the Federal Reserve system. met the demand and announced that will open for business usual tomorrow. Plenty of Business More money, it believed. was in circulation here today than at any time since the Festival States celebration. Persons, fearing that the sole of St. Petersburg's six banks would close, paid many of their debts by check and bought many necessities. But the banks did not offer all the excitement here today. We had an automobile accident fatality and a suicide. Abe Nedley, an Apalachicola man. who was injured in an automobile crash out on avenue eral nights ago, died Sunday night. just few hours after the alleged driver of the car put in his appearance and arrested. He was freed today when the coroner's jury held the accident unavoidable went out to the scene of the accident that night. was driving along Ninth street north when an ambulance sped by. turned in behind it and took advantage of its siren to make hasty trip to the wreck, arriving there just few seconds the emergency car We found both badly wrecked and three the four the wreckage. On the way back to town we must as many 200 cars, all headed to the scene of the accident. It's marvelous how spreads. The suicide took place this afterand police are still investigating it.) Complete details will be in another section of The Times Tues-
City Enthused The over Sun celebration to be held on June 19. Quite an interesting contest has developed among number of the most beautiful for the honor of being queen. Votes cost penny each To date Miss Hilma Golden leading the list. The celebration expected to be one of the most pretentious staged in commemoration of the city's 365 days of Summertime vacation days are here. but the youth of the city must still go to school. No sooner had the public schools ended their than the churches of the city the opening of BIble schools today. Quite number of local boys and girls enrolled for the four weeks' The high school graduation program was most last Friday night. In company with Ruth W. our school tended and saw 232 happy young men and young women get their diplomas. Some are going to college and others will enter immediately upon careers. St. Petersburg has another convention in the offing.. The Florida State Peace Officers association will meet here in 1931. Citizens are still being called upon to pay their back taxes and help the city meet its bond obligations. Beach parties, an occasional dance and a pienic every Thursday afternoon are few of the many enjoyments of my summer here. And, folks, lot of people who had planned to spend their vacations up north have decided to stay right here in St. Petersburg, enjoying its recreational facilities, its beaches and its unexcelled fishing. must close for this time. Yours, MA SUNSHINE
4.June 11, 1930Tampa Bay TimesSt. Petersburg, FL
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Article Text
POLICE FIND MISSING GUN, 1 SHOT FIRED
Detectives Work Feverishly to Gather Clues and Evidence in Death of George W. Council
EORGE W. COUNCIL'S .38 calibre pistol, missing night he burned to death in his south side bungalow, found Tuesday by the St. Petersburg police department. It contained five loaded cartridges and one empty lieved to have been fired as recently as 10 days ago whenathe badly charred remains of Council were dragged smouldering debris that had been his home. Where the gun was found how detectives located it could not CENTRAL'S RUN revealed Tuesday, detectives adopting crecy pending may land man in jail on echarge APPEARS OVER; of murder. Call State's Captain LINE DWINDLES who with his best spent the greatest part of 48 hours on the case, Tuesdres bight decided to send for State's Attorney Another Big Shipment of Cur- E. .Wilson. He will arrive'Ithis morning and steps will be takemosit rency Arrives by Armored is understood, to conduct an attophy over the remains of Council Truck During Morning buried the day following his death. There were many rumors current Run on the Central National Bank on the streets Tuesday afternoonsin and broken connection with the case. Tuesday the opinion of officers these rumors connected the of the after line that known citizen. who has been extended length of the build. recently much in the with ing had almost the nothing and stragglers inPolice Chief Noel in declining to vited hour for the closing answer by allowed to make said had been too such wild rumors going around alThe arrival Tuesday from ready
Fire Home to Cover Crime Captain Lipphard was ticent and little could be learned from Chief of Police R. known that are looking into the theory that Council was ed killed and that home was fired up the crime. This theory comes out of testi(Continued on Page 2. Column
5.April 18, 1931Tampa Bay TimesSt. Petersburg, FL
Article Text
Bank Examiner BODY OF MAN Takes Over Closed IS FOUND ON Central National MAXIMO ROAD
Heavy Withdrawals and Failure to Get Credit Blamed; Other Banks Meet Rush of Crowds With Cash
G. HANCOCK, national bank examiner, arrived in St. Pe. tersburg Friday afternoon to take eharge of the affairs of the Central National Bank & Trust Company which closed its doors at m. after being open for business yesterday just one hour and five minutes. The national bank examiner will remain in charge until the Comptroller of Currency appoints receiver for the closed bank. A receiver will likely be speedily appointed as this is the enstom in closed national banks.
Closing of the Central National* Bank Trust which without to the general public and warning without excitecaused to quickly front of the institution gather in and at the other banks. There were withdrawals throughout the day Florida National Bank and the Union Trust company but officials of both institutions stated last night that no more than expected after the people had fered the shock of bank closing. Others Offer To Pay D. president of the FlorNational said his bank prepared to off every depositor pay the dollar and that the 100 cents on bank will promptly continue to pay nervous depositors Nat B. Brophy that bank with cash convertible into He note files small in He said money against the Central National Bank and company issued statement shortly after the directors Heavy the coupled sudden credit could extended decision officials In the paid off all money from (Continued on Page Column 2)
6.June 22, 1931Tampa Bay TimesSt. Petersburg, FL
Article Text
COURT TO HEAR CITY'S MOTION TO QUASH SUIT
Bondholders' Litigation Will Come Before Judge Hobson This Morning
Arguments on a city motion to quash the mandamus action brought by group of New York bondholders to compel the municipality to pay interest on bonds in default will be heard in circuit court chambers here this morning by Judge T. Fank Hobson. Judge Hobson Friday dissolved temporary injunction restraining the city from paying further interest on bonds. The restraining order was grantd a week previous on application of A. M. Anderson, receiver for the First National bank and the Central National bank. Counsel representing the bank receiver indicated that Judge Hobson's decision would be appealed to the supreme court. The group of New York bondholders have possession of approximately one-fourth of the city's outstanding bonds, amounting to about $6,000,000.
7.October 25, 1931Tampa Bay TimesSt. Petersburg, FL
Article Text
CENTRAL BANK FIRST
25 Per Cent Is Ready for 6,500 Depositors, Anderson Says
(Continued from Page properly endorsed, the check can be cashed deposited at any bank otherwise negotiated. First Dividend This the first dividend that has by the Central National bank, which suspended of April 17, 1931. This payment will be ultimately extended to more than 9,000 Mr. Anderson pointed out that positors In this community are coming familiar with the procedure, dividends have been paid the First bank. He urged that and certificates be warded mail, convenient, will permit the same clerical force the payments at the disposal many hundreds depositors sooner than could be delivered people standing The payments to will without exception, mailed in order which they arrive by and perwho call the during office hours, 12 noon, will be waited on their Urges Public Patience The receiver said that effort will be made to place the dividend checks disposal the creditor rapidly possible. On account the large number payments be made, will necessary take few days, and is expected people will least reasonably patient in the matter. receiver large volume bills receivable yet to liquidate, and and controls large amount real estate, which will be liquidated rapidly possible as the best interests general which will cause further dividends, Due the fact that large numof depositors of the closed bank are the north, expected that made for the people return here for the winter. claims will be filed and sent in as the depositors the The receiver explained that while depositors may not think to get for few cents, he pointed that important that every payment be records the bank may avoid any litigation the future over amount deposits. Mr. Anderson said might be possible that mistake had been by the bank and that the depositor might have more money than shown on the receiver's certifiHe asks that all persons their dividend checks whether they be for one cent $10,000.
8.October 26, 1931Orlando Evening StarOrlando, FL
Article Text
Dividend Checks Are Ready for Distribution
ST. PETERSBURG, Oct. checks for mately $400,000 per cent their the Central National Bank Trust Co., which last April, were ready today distribution to 6,500 deposiby M. Anderson, receiver. These depositors filed their claims prior September 29. Checks for those who filed later have been submitted for approval. When available the later checks will bring first dividend payment to
9.January 12, 1932The Tampa TribuneTampa, FL
Article Text
Default Judgments
Following are the default judgments awarded yesterday:
J. C. Shelton, as receiver First National Bank of Lakeland, vs. William P. McDonald, $6979; A. W. Doepke, as receiver First National Bank of Avon Park, vs. J. H. Smith, $800; also vs. Avon Park Canning Co., Inc., A. V. Anderson, and others, $3999; Doepke, as receiver Carlton National bank, vs. J. W. Skipper, $2294; also vs. Maud Roberts, $1395; also vs. J. H. Brown, $6692.
J. W. Harwell, as receiver First National Bank of Sanford, vs. H. M. Rumbley, $1010; also vs. E. E. Brady, $1276; also vs. Euphia Finnell, $1028; Federal Reserve bank of Atlanta vs. D. O. Ratliff, $6120; Don P. Strode, as receiver Howard National bank, Kokomo, Ind., vs. Edward J. Humpe, $1030; A. M. Anderson, as receiver Central National bank & Trust company, St. Petersburg, vs. Donovan & Sons, Inc., $1772; also vs. Charles S. Powell, $1841.
10.January 12, 1932The Tampa TribuneTampa, FL
Article Text
Default Judgments
Following are the default judgments awarded yesterday:
J. C. Shelton, as receiver First National Bank of Lakeland, vs. William P. McDonald, $6979; A. W. Doepke, as receiver First National Bank of Avon Park, vs. J. H. Smith, $800; also vs. Avon Park Canning Co., Inc., A. V. Anderson, and others, $3999; Doepke, as receiver Carlton National bank, vs. J. W. Skipper, $2294; also vs. Maud Roberts, $1395; also vs. J. H. Brown, $6692.
J. W. Harwell, as receiver First National Bank of Sanford, vs. H. M. Rumbley, $1010; also vs. E. E. Brady, $1276; also vs. Euphia Finnell, $1028; Federal Reserve bank of Atlanta vs. D. O. Ratliff, $6120; Don P. Strode, as receiver Howard National bank, Kokomo, Ind., vs. Edward J. Humpe, $1030; A. M. Anderson, as receiver Central National bank & Trust company, St. Petersburg, vs. Donovan & Sons, Inc., $1772; also vs. Charles S. Powell, $1841.
11.January 12, 1932The Tampa TribuneTampa, FL
Article Text
J. C. Shelton, as receiver First National Bank of Lakeland, vs. William P. McDonald, $6979; A. W. Doepke, as receiver First National Bank of Avon Park, vs. J. H. Smith, $800; also vs. Avon Park Canning Co., Inc., A. V. Anderson, and others, $3999; Doepke, as receiver Carlton National bank, vs. J. W. Skipper, $2294; also vs. Maud Roberts, $1395; also vs. J. H. Brown, $6692.
J. W. Harwell, as receiver First National Bank of Sanford, vs. H. M. Rumbley, $1010; also vs. E. E. Brady, $1276; also vs. Euphia Finnell, $1028; Federal Reserve bank of Atlanta vs. D. O. Ratliff, $6120; Don P. Strode, as receiver Howard National bank, Kokomo, Ind., vs. Edward J. Humpe, $1030; A. M. Anderson, as receiver Central National bank & Trust company, St. Petersburg, vs. Donovan & Sons, Inc., $1772; also vs. Charles S. Powell, $1841.
12.May 22, 1932Tampa Bay TimesSt. Petersburg, FL
Article Text
WILL SHARE IN BANK DIVIDENDS
Approximately $538,000 will be in St. Petersburg within the next six weeks with the ment 12½ per cent dividend the general creditors the Central National Bank Trust Co., and dividend per creditors of the First National Depositors of the Central Na. tional Trust receive approximately $248,000 within days, while about 45 days approximately $290,000 will be made available deposiFirst National bank. total about 18,500 dividend released the two banks, approximately 11,000 by the First bank and about 7,500 by the Central tional Bank and Trust Co.
13.May 24, 1932Fort Pierce TribuneFort Pierce, FL
Article Text
Closed St. Petersburg Banks will Pay $538,000
ST. PETERSBURG, May will be put into circulation here withthe next weeks with the payment per cent dividend general creditors of the Central National Bank and Trust Company, and payment of an eight per cent dividend to creditors of the First National Bank, Anderson, federal bank receiver has announced. The Central National Bank will distribute $248,000 and about $20,000 will be made available depositors in the closFirst National Bank. Around 18,000 dividend checks will be released by both banks. Both banks which closed last year have already distributed one dividend.
14.June 12, 1932Tampa Bay TimesSt. Petersburg, FL
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RESIDENT BUYS HOME FROM BANK RECEIVER
The purchase of North Shore bungalow located at 320 Fourteenth avenue northeast, was reported last week by Van Sciver and realSon, tors. The property was purchased from M. Anderson, receiver of the Central National bank by John Hill McCleary, local resident.
15.August 28, 1932Tampa Bay TimesSt. Petersburg, FL
Article Text
AGED MAN DIES PAUPER, HAD FORTUNE
G. W. Clark Carrier Riches In Coat But Depended On Neighbors for Food
The story of 76-year-old man who carried with him, sewed the linings of his clothing. fortune in cash and securities but who died pleading pauper was revealed here Saturday. Living alone in "shack" at Tenth avenue south and depending his neighbors for food, George W Clark requested admittance to Mound Park hospital as charity patient Aug. and died short time later, was learned. Among his effects hospital authorities found cash, stocks and bonds of an unknown amount. Now appraisers are checking on the aged man's determine his actual worth and efforts are being made locate all his immediate kinsmen. Two brothers have been found, one West Haven, Conn., and another Toronto, Can. Clark said have lived Flor. ida for the past 20 years, and most of that time spent in St. Petersburg, persons familiar with the case
He came here from Canada. The Endicott Funeral home given charge of the body when Clark and relatives north quested the aged recluse be buried On Aug. the body terred in Royal Palm cemetery Later the case was placed before County Judge Harry Hewitt, named M. Endicott curator for the estate, with Wilson and Bogue attorneys. Although the exact value Clark's estate has not been determined, was estimated that "good times" was worth $50.000 and $100,000 in cash and securities, and "played the stock market regularly," those close to the case said. Investigation revealed that Clark lost approximately in the closing of the First National bank and the defunct Central National bank. He had $500 monthly annuity from Bogue, one of the attorneys the In addition he had stock certificates several leading motor sues totaling thousands dollars, with an unestimated amount of bonds. Bogue placed the man's wealth his tween $15,000 and $20,000, in stocks and bonds on the present day market.
Bogue said that an investigation at the man's "shack" after his death revealed evidence that he had been hoarding his little fortune his large needle was found. The two brothers located were John Clark, West Haven, Conn., and Thomas Toronto.
FEDERAL RESERVE MUST PAY CHECKS
Judge Alexander Akerman ruled today that who sent $75,000 worth checks Central National bank St. Petersburg the Federal Reserve bank of Atlanta for collection were entitled money. denied petition by reserve officials rehearing suit filed against derson, receiver for the Petersburg bank.
17.October 28, 1933Tampa Bay TimesSt. Petersburg, FL
Article Text
CHOSEN TO REPRESENT BANK RECEIVER
Appointed Counsel for Two Defunct Institutions After Thompson Resigns
Appointment of Byron Sauls Petersburg Arthur counsel for the federal of the closed First bank and the Central National Bank Trust Co., was made Friday M. Dakin, for banks. Thompson handed his resignation Friday to Dakin and asked Nov. He Dean Aikin and 'harles Brock, have counsel the banks they went into liquidation. first being attorneys M. Anderson and then his successor, Dakin Dakin stated Friday night he had made under thority given O'ConWashD. after had letter resignation Thompson best trusts under your would appreciate relieved my pointment contract general counsel for of effect Nov. and may therefore consider tendered resignation the United States comptroller soon my has appointed glad furnish co-operation may necesand deliver him records pertaining to the
18.March 6, 1934The Miami NewsMiami, FL
Article Text
FLORIDA COURT RULING ON BANK CASE IS UPHELD
Holders of Checks on St. Petersburg Institution Win Suit
NEW ORLEANS. March The United States fifth circuit court of appeals, ruling that difference of 16 minutes not the deciding was issue, has affirmed a decision of the southern district of Florida federal court directing the Federal Reserve bank of Atlanta to turn over $75,080 to holders of checks originally drawn on the Central National Bank and Trust Co. of St. April 15, 1931. Receivers of the defunct Central National Bank and Trust Co., brought the suit against the reserve bank. On April 15, 1931, the Central Na tional bank honored the checks and mailed a draft on its reserve account held by the Atlanta branch reserve bank at Jacksonville On April at 10:52 a. m. the Central Bank and Trust Co. closed The branch of the Federal Reserve bank at Jacksonville did not report the $75,080 drafts to the main office in Atlanta until 11:08 a. The bank receiver, named in the suit as A. M. Anderson, claimed the $75,080 should not be deducted from the bank's reserve fund because the Jacksonville reserve branch had not reported the drafts until after the bank had closed. think that under the facts of the present case at the time the St. Peterburg bank ascertained its insolvency and closed its doors the reserve bank had come to owe the amount of the draft to the checkholders and not to that bank," the court decided.
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.
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Central National Bank & Trust Company · UID 779601566
