Article Text
Bank Receiver To Address Clul R. J. Fry, Jr., Bank of Yolo receive for the State Banking Department, to talk to the Woodland Den of Lion Wednesday. He is an experience banker and bond expert. Subscribe now to the "Democcrat
Bank of Yolo (Woodland, CA)
Episode Information
- Episode UID
90033071597- Episode Type
- Run → Suspension → Closure
- Bank Type
- state
- Bank ID
-
9003307routing - Routing Number
90-0330- Start Date
- January 13, 1933
- Location
- Woodland, California (38.679, -121.773)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
c69e0ad597816e6c
Response Measures
None
Events (4)
1.
January 13, 1933
Run
- Cause
- Bank Specific Adverse Info
- Cause Details
- Withdrawals and widespread rumors about the bank's condition; directors and examiners discussed large withdrawals and attempted to raise capital.
- Measures
- Directors and banking officials sought a $1,000,000 loan from bankers; Clearing House meeting called; efforts to have stockholders pledge notes.
- Newspaper Excerpt
- there came, on January 13th, difficulties which had been culminating with the Bank of Yolo and Woodland.
- Source
- newspapers
2.
January 15, 1933
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Directors resolved to close the bank after continued withdrawals and inability to secure sufficient financial support from stockholders or external lenders.
- Newspaper Excerpt
- on January 15th, it was necessary to close the Bank of Yolo at Woodland.
- Source
- newspapers
3.
January 31, 1933
Receivership
- Newspaper Excerpt
- R. J. Fry, Jr., Bank of Yolo receiver for the State Banking Department, to talk to the Woodland Den of Lion Wednesday.
- Source
- newspapers
4.
September 28, 1933
Other
- Newspaper Excerpt
- Yolo Bank Receiver Decides Against Government Loan ... Fry says he is making an effort to conserve assets of the institution.
- Source
- newspapers
Newspaper Articles (3)
Article Text
Text Of Rainey Testimony Reveals Warnings Of Crash (Continued From Page Six) he believed there was hope for a more liberalized policy on government loans to banks. He then continued listing his meetings with the local bank officials. January 2, 1933, on consultation with Kiesel and others in Sacramento. January 4, 1933, called on Matland and Price relative to Sacramento bank, as chief national bank examiner. January 6, 1933, Matland, Price and Kiesel were at a meeting with myself at 1:45 o'clock in the afternoon, with Mr. Kiesel in Matland's office. TOLD OF DANGER. January 9, 1933, I have a note in my book, "I took 7:30 ferry for Sacramento; from 11 o'clock until 2 o'clock, was in conference in state banking department office with Messrs. Kiesel, Devlin, Kruse, Ruhstaller and Dillman." At that time these gentlemen were told that they had been told before that the stockholders must produce some money to help this bank over its difficulties, they knew, and I knew, that there were withdrawals going on; they knew there were rumors about the condition of this bank all over this town and valley. They understood. They said they would see if they could raise a million dollars, among themselves, for the two banks. BANK RUN DISCUSSED. January 9th, in Sacramento; January 10th, Mark Skinner was in my office at 2 o'clock in the afternoon with figures on the "run." January 11th, at 2:30 o'clock, Mr. Skinner, Mr. Lowell, my chief examiner, and I called on Mr. Matland, national bank examiner, in Matland's office, again discussed figures in connection with the run on this bank. January 12th, I had conference with Mr. Day in Federal Reserve Bank relative to Sacramento, and Mr. Skinner was again in my office at 4 o'clock. Then, there came, on January 13th, difficulties which had been culminating with the Bank of Yolo and Woodland. After the meeting at San Francisco, the directors of the Bank of Yolo, and others, and I and some of my people from my office left at 10 o'clock at night for Woodland, and during that night had conferences which we thought might save the Bank of Yolo. Yolo Bank Closed. This conference came to an end as a failure on Sunday afternoon, January 14th, and, on January 15th, it was necessary to close the Bank of Yolo at Woodland. This had, to some extent, an aggravating effect on the situation in Sacramento. January 17th, 2 o'clock, met at Federal Reserve Bank. January 17th, Kiesel and the directors, and Mr. Day of the Federal Reserve Bank; Mr. Colkins of the R. F. C.; Mr. Clerk, the deputy governor; Mr. Matland, Mr. Price, Mr. Lowell and Mr. Walker, one of my examiners were there. On January 18th, Mr. Walker and I came to Sacramento, or to Woodland, and stopped in on the way to see Mr. Skinner, and discussed the affairs of the bank with him. $1,000,000 Deal Told. In the meantime we had been told by Mr. Kiesel that he had practically completed arrangements for getting a million dollars from a banker in San Francisco, who would lend the money on individual resources, and the stockholders of this bank, particularly the directors, were to pledge their notes and give the money. It did not materialize. On January 19th, in the afternoon at Sacramento, late in the afternoon, there was a meeting with Kiesel, Skinner, Henry Weston, Mr. Barry, my attorney, and Mr. Walker. We were still very much concerned over the withdrawals from the bank, and wondered what progress had been made on the money to be put in by the directors. Kiesel Call Told. I remained in Woodland that night, I went to Woodland that night. Mr. Kiesel called me at Woodland and told me Mr. Scott Ennis was arranging for a meeting of the Clearing House Association at San Francisco, in order they might consider the condition of this bank and see what could be done to assist. McALLISTER: Was the Clearing House being called for this specific purpose? Giannini's Help Sought. Yes, and no. That afternoon, on the afternoon of January 20th, at 2:15 o'clock, I met Mr. Kiesel, Mr. A. P. Giannini, Mr. Will Morrish, president of the Bank of America; Mr. Scott Ennis, and Mr. Marshall Hale, director. I was accompanied by Mr. Walker, the idea being to see if Mr. Giannini's support could be gotten for the Clearing House meeting during the afternoon, at which one of his men would be present. That afternoon at 4 o'clock, the meeting of the Clearing House took place, in the office of the San Francisco Clearing House, present being Mr. MacIntosh; President Lippman of the Wells-Fargo Bank; Mr. Avanali of the Crocker Bank; Mr. Elsey, president of the American Trust; Mr. Pontius of the Anglo; Mr. Scott Ennis, Mr. Kiesel, Mr. Ruhstaller, Mr. Hale, Mr. Barry, Chief National Bank Examiner Matland, Mr. Madland, Mr. Lowell, Mr. Walker, and National Bank Examiner Price. Bank Ordered Closed. At that meeting the situation of the banks was gone over very freely, and during the meeting I made several attempts to get the figures for the day as to the withdrawals made from the bank; and, finally I got the total withdrawal figures from Mr. Mark Skinner, and reported it to the meeting, and the next morning the bank was closed by resolution of the board of directors. I am giving you this, because I want to show you there was no snap judgment taken on this bank. They knew perfectly well they were in difficulties which they had to meet, and when I say "they," I mean the officers, directors and stockholders. GRAND JUROR: Mr. Rainey, you mentioned the directors. Was that a committee of directors, or all of the directors? Whenever a meeting was arranged for the directors, they come to my department, generally only a few of them came. I don't think we ever had a meeting of all the directors. CLOSING ALL AGREED. JOHNSON: Were the directors, Mr. Kiesel and the directors told at that meeting in San Francisco in the Clearing House, that the bank was going to be closed. It was very generally agreed to in San Francisco— Interposing: Wasn't it the understanding at that time, the next morning, that the officers themselves would draw a resolution closing the bank? That was the understanding, and they did it. McALLISTER: Mr. Rainey, are you familiar with the details of the loan from the Chase Company of New York? The Chase National Bank? Yes, the Chase National Bank, to this bank? Yes. How much collateral was up on that, the same as the R. F. C.? No, there isn't so much. I didn't get the exact figures. I have the figures in my possession. They borrowed six hundred thousand dollars from the Chase National Bank, and put up a very good bond. We have reduced that to some extent, and they owe, I think two hundred and twelve thousand. The statement of January 20th, shows loans of $1,062,000. That means that the banks deposited collateral with the R. F. C. two and a half times that amount? Approximately. In other words, two and a half million dollars worth of securities are deposited with the R. F. C.? Yes, sir. What will become of those securities? As the loan is repaid, those securities eventually will be released to the bank, to be liquidated. GRAND JUROR: Were there any other bond transactions similar to that? No, not that we have discussed. CHAIRMAN: No further questions. You will be excused.
Article Text
WOODLAND WILL BE NRA CENTER Parade, Speaking By Creel And Others Are On Program WOODLAND (Yolo Co.), Sept. 28 Arrangements are nearing completion to-day for Woodland's NRA parade and celebration to be held here Robert G. Alderman, secretary of the Woodland Chamber of Commerce. announces that the parade on Main Street will commence promptly at 10 M. Many Will Participate. Every service club in Woodland, the American Legion, both National Guard companies, the Boy Scouts and several organizations will take part in the parade either by marching or by entering floats. The Knights Landing Lions Club will enter float and the College of Agriculture at Davis is expected to One of the sections of the parade will feature bicyclists of all ages Many persons have entered, Alderman Creel Will Appear. The highlight of the day's celebration will be the appearance of George Creel, NRA administrator for this area. Creel will come to Woodland by airplane and will be met by delegation at the Yolo Fliers Chairmen of nineteen Superior California counties have been invited to come here and meet with their NRA chief. Judge Welsh To Preside Judge Martin I. Welsh of Sacramento has consented to introduce the speaker. It will be Creel's last public appearance before he retires as NRA administrator. Arthur C. Huston, Jr., will be the marshal of the parade. Yolo Bank Receiver Decides Against Government Loan WOODLAND (Yolo Co.), Sept. No effort being made by R. Fry, Jr., receiver of the Bank of Yolo, to obtain from the government because of the expense he states. Fry says he is making an effort to conserve assets of the institution. If federal loans were sought it would be necessary to pay out considerable sums for title insurance and other purposes. Ford Shaffer Designated As Inheritance Appraiser WOODLAND (Yolo Co.). Sept. 28.-Ford Shaffer has been appointed state inheritance tax appraiser for Yolo County, to succeed his father, the late Fred Shaffer The appointment was made Ray L. Riley, state controller. Shaffer will combine his new duties with those of his real estate