Willow Grove Trust Company (Philadelphia, PA)

Episode Information

Episode UID
60161271582
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
6016127 routing
Routing Number
60-1612
Start Date
October 5, 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
e01c2a2c8852ffcd

Response Measures

None

Events (1)
1. October 5, 1931 Suspension
Cause
Government Action
Cause Details
Closed and taken in charge by the Pennsylvania State Banking Department; affairs turned over to state authorities.
Newspaper Excerpt
The Willow Grove Trust company closed today and was taken in charge by the state banking department.
Source
newspapers

Newspaper Articles (2)
1. October 5, 1931 The World-News Roanoke, VA

Article Text

South Boston Is Without A Bank First National Planters South did not Bank business this without banking South Boston entirely facilities of made the The board directors lowing statement withdrawals to recent heavy acute cultural this the closed for ordered capital of The bank has and Charles Owen president cashier National Bank closed The Boston the hands time and residents of tel are being taken to organization South Boston looking and been made to the farmers will be able get their money promptly. THREE BANKS CLOSE here closed its Farmers Bank Philadelphia, Oct. Trust deposits the State Bankthe hands of placed ing Department Trust Company. Saturday appointed temporary Weniger banking after private three had filed involun- Federal in tary 500 decourt The liabilities No statement positors available until after be audit of books. VOTE ON MERGER New (Special) First National Bank the Castle and the Farmers Craig signed Merchants of contract Saturday each bank merger stockholders the institutions, the ratification. of contract to rejection of the two mitted the banks on November fifth. BANK RECEIVER suit colOct. interest from March lect with Saturday in United was instituted district court Charles States the National Bank receiver of Green, Old Coal. of Roanoke salleged on the day in question which firm check the defendant in the NaWhen the tional Bank submitted to the bank check which it was was drawn that the plainpayment had been asserts. and other costs the fee Norton is it alleged. Closes Philadelphia, United three Trust with Security today did closed Willow Grove Trust Company. Savings Bank. Dime Canton. turned over the Bank was Department of liquidaState Banking directors today. The tion by its bank to of the 000 and the deposits to has been under way the Tabernacle Bapone be continued through church will today. sermon tonight by Rev. Howard Arthur. Prodigal each evening at 7:30 Doors open o'clock.

2. October 6, 1931 Omaha World-Herald Omaha, NE

Article Text

Land Bank Bonds. Following is a list of Federal Land Bank bonds, traded in over-the-counter market at New York Monday, with the closing bid and asked price. Furnished by the National City Company, Inc., 1313 First National Bank building, AT 5182, Omaha. Bid. Asked. F. L. B. 4 Nov. 1, 1957-37.. 71 74 F. L. B. 4 May 1, 1958-38.. 71 74 F. L. B. 4 1/4 July 1, 1956-36.. 72 75 F. L. B. 4 1/4 Jan. 1, 1957-37.. 72 75 F. L. B. 4 1/4 May 1, 1957-37.. 72 75 F. L. B. 4 1/4 Nov. 1, 1958-38.. 72 75 F. L. B. 4 3/4 Dec. 1, 1933-32.. 98 99 F. L. B. 4 1/2 May 1, 1942-32.. 76 1/4 79 1/4 F. L. B. 4 1/2 Jan. 1, 1943-33.. 76 1/2 79 1/2 F. L. B. 4 1/2 Jan. 1, 1953-33.. 75 78 F. L. B. 4 1/2 July 1, 1953-33.. 75 78 F. L. B. 4 1/2 Jan 1, 1955-35.. 75 78 F. L. B. 4 1/2 Jan. 1, 1956-36.. 75 78 F. L. B. 4 3/4 July 1, 1953-33.. 76 80 F. L. B. 4 3/4 Jan. 1, 1954-34.. 76 80 F. L. B. 4 3/4 July 1, 1954-34.. 76 80 F. L. B. 5 May 1, 1941-31.. 86 88 F. L. B. 5 Nov. 1, 1941-31.. 86 88 New York Bank Stocks. New York, Oct. 5 (A. P.)— BANK STOCKS. Bid. Asked. America .................... 29 31 Chase Natl ................. 37 3/4 39 3/4 Chat Phen .................. 30 1/2 32 1/2 Comml ...................... 165 173 First Natl ................. 2250 2350 Manhattan .................. 37 1/4 39 1/4 Natl City .................. 48 50 Public ..................... 21 1/2 23 1/2 TRUST COMPANIES. Bankers .................... 56 58 Bklyn Tr ................... 232 242 Cent Hanover ............... 128 132 Chemical ................... 30 3/4 32 3/4 Continental ................ 15 1/4 17 1/4 Corn Exch .................. 71 74 Empire ..................... 29 31 Guaranty ................... 264 269 Irving ..................... 19 3/8 20 3/8 Manufacturers .............. 31 3/4 33 3/4 United States .............. 1950 205 N Y Trust .................. 90 93 Board of Trade Stocks. Chicago, Oct. 5 (A. P.)— Sales. High. Low. Close. Amer Cynamid Co.. 100 4 4 4 Armour Cl A...... 300 1 1 1 Corn Prod com .... 200 28 5/8 27 3/4 27 3/4 ElecBondShr ...... 2500 16 5/8 15 15 Pennroad Corp Shr. 400 3 7/8 3 3/4 3 3/4 Std Oil of Ind .... 4700 17 7/8 17 1/4 17 1/4 Studebaker com ... 200 9 3/8 9 1/4 9 1/4 BONDS. Sales High Low Close ChicagoBd of Trad. 1000 52 52 52 N. Y. Produce Exchange. New York, Oct. 5 (A. P.)— Sales. High. Low. Close. Jenkins Tel ......... 9 2 3/4 2 1/2 2 1/4 Shortwave Tel ....... 23 1 3/8 1 3/8 1 3/8 Western Television .. 14 2 3/8 2 1/4 2 3/8 Minneapolis Bank Stocks. Minneapolis, Oct. 5 (A. P.)— Bid. Ask. Close. First Bank Stock ........ 14 7/8 15 15 Bancorporation .......... 22 22 1/2 22 1/2 Bar Silver. New York, Oct. 5 (A. P.)—Bar Silver, 7/8c higher at 28 1/8c. Foreign Exchange. New York, Oct. 5 (A. P.)—Foreign Exchanges—Easy. Great Britain in dollars, others in cents. Cables. Great Britain—3.83 1/2. France—3.93 7/8. Italy—5.14. Belgium—13.96. Germany—23.60. Holland—40.15. Norway—22.00. Sweden—23.00. Denmark—21.75. Switzerland—19.61. Spain—9.02. Portugal—3.35. Greece—1.29 1/8. Poland—11.23. Czechoslovakia—2.96 1/2. Jugoslavia—1.77. Austria—14.06. Rumania—.59. Argentine—24.02. Brazil—5.35. Tokio—49.38. Shanghai—32.00. Montreal—87.75. Mexico City (silver peso)—35.86. Bank Suspensions. St. Paul, Minn., Oct. 5 (A. P.)—Four Minnesota banks with deposits totaling $905,000 closed today. Heavy withdrawals caused suspension of the Racine State bank while the State Bank of Watertown ceased operations because of depleted reserves. The Exchange State bank of Grand Meadow and the State Bank of Mayer closed to conserve assets. The Grand Meadow bank was the largest with deposits of $400,000. Philadelphia, Pa., Oct. 5 (A. P.)—The United Security Trust company with three branches, closed today and turned its affairs over to the state banking department. Willow Grove, Pa., Oct. 5 (A. P.)—The Willow Grove Trust company closed today and was taken in charge by the state banking department. Duluth Flax. Duluth, Minn., Oct. 5 (A. P.)—Close: Flax—On track, $1.25 1/2 @ 1.29 1/2; to arrive, $1.25 3/4 @ 1.26; October, $1.25 1/2; November, $1.25 5/8; December, $1.22 1/2; May, $1.25 1/2.