Overbrook National Bank - Philadelphia, PA

Episode Information

Episode UID: 1257301577
Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 125730 national
Charter Number: 12573
Start Date: May 15, 1931
Location: Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 7787b897220e68e5

Response Measures

None

Receivership Details

Depositor recovery rate: 48.0%
Date receivership started: 1931-05-15
OCC cause of failure: Economic conditions
Share of assets assessed as good: 29.2%
Share of assets assessed as doubtful: 62.5%
Share of assets assessed as worthless: 8.4%

Description

Article discusses post-closure litigation by the receiver following the May 15, 1931 closure.

Events (3)

1. September 2, 1924 Chartered

Source: historical_nic

2. May 15, 1931 Receivership

Source: historical_nic

3. May 15, 1931 Receivership

Newspaper Excerpt: Suits against six stockholders of the Overbrook National Bank, Sixtieth and Master streets, which closed May 15 last. for the 100 per cent assessment on their stock levied so that debts of the bank could be paid, were filed ... by C. F. Rogers, the bank's receiver.
Source: newspapers

Newspaper Articles (1)

1. October 14, 1931 The Philadelphia Inquirer Philadelphia, PA

Article Text

SUITS OVER BANK STOCK Receiver Asks 100 Per Cent. Levy From Six Overbrook Shareholders Suits against six stockholders of the Overbrook National Bank, Sixtieth and Master streets, which closed May 15 last. for the 100 per cent assessment on their stock levied so that debts of the bank could be paid. were filed in the United States District Court yesterday by C. F. Rogers. the bank's It was said that the suits will bring about test of the right of the receiver to levy the assessments, those against whom they were filed having refused to pay on the ground that the bank failure was due to mis management by officials The stockholders sued and the amounts claimed Samuel McLaughlin, 96 South Patrick McCafferty 25 Linden W Boyer 5860 North Fairhill $1000: H M McCaughey 6902 Mc Callum street. $1200; Samuel N and Charles L. Kinsley, 725 North Named to Philadelphia Army Post WASHINGTON Oct. 13 (A. A new officer for the Philadelphia quartermaster depot was appointed today by the War Department. Captain John R master corps Detroit. was ordered to the post The change is as Bailey is relieved from his present duties.