County Trust Company - Philadelphia, PA

Episode Information

Episode UID: 3008771582
Episode Type: Run → Suspension → Closure
Bank Type: state
Bank ID: 300877 routing
Routing Number: 3-0087
Start Date: October 9, 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: 8f1a443a62709d3c

Response Measures

None

Description

Bank and seven branches taken over by state secretary of banking; permanent closure implied.

Events (3)

1. October 9, 1931 Receivership

Newspaper Excerpt: The bank and its branches have been taken over by Dr. William D. Gordon, state secretary of banking.
Source: newspapers

2. October 9, 1931 Run

Cause Details: Large cumulative withdrawals during the year ($3,000,000) led to loss of deposits and pressure on the bank
Newspaper Excerpt: County Trust Company and Seven Branches Hit by $3,000,000 Withdrawals
Source: newspapers

3. October 9, 1931 Suspension

Cause: Government Action
Cause Details: Bank and branches taken over by the State Secretary of Banking (Dr. William D. Gordon)
Newspaper Excerpt: The doors of the County Trust Company ... did not reopen today. The board of directors made that announcement late yesterday
Source: newspapers

Newspaper Articles (1)

1. October 9, 1931 Evening Courier Camden, NJ

Article Text

BANK AT FRANKFORD IS ORDERED CLOSED County Trust Company and Seven Branches Hit by $3,000,000 Withdrawals The doors of the County Trust Company, Frankford avenue and Rhawn street, Philadelphia, and its seven branches did not reopen today. The board of directors made that announcement late yesterday because of $3,000,000 withdrawals in deposits this year. The bank and its branches have been taken over by Dr. William D. Gordon, state secretary of banking. The bank represents the consolidation of a number of northeast banking institutions. J. S. Disston, saw manufacturer, is chairman of the board of directors. Three other members of the Disston family are members of the board. The board said the bank had resources totalling $10,411,167 and deposits totalling $7,582,646. The trust funds total $4,598,266. The seven branch offices are as follows: Tacony office, Longshore st. and Torresdale ave. Tacony branch, Longshore and Tulip sts. Fox Chase office, Oxford ave. below Rhawn st. Bustleton office, Bustleton pike and Grant ave. Somerton office, Bustleton pike and Byberry road. Lawndale office, 6500 Rising Sun ave. Mayfair office, 7316 Frankford ave.