gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
fcd4a9f63f913ebd
Response Measures
None
Description
Closed by state banking commissioner with permanent receiver later sought; arrests of officers followed.
Events (3)
1.November 17, 1909Receivership
Newspaper Excerpt
Al Taber, State bank examiner, has been appointed temporary receiver.
Source
newspapers
2.November 17, 1909Suspension
Cause
Government Action
Cause Details
Ordered closed by State Commissioner of Banking due to 'undigested securities' and unsafe/insolvent condition.
Newspaper Excerpt
The PHILADELPHIA, Nov. American Trust Company ... was ordered closed today by State Commissioner of Banking Smith.
Source
newspapers
3.May 29, 1910Other
Newspaper Excerpt
J. Kinnier Crawford ... and Joseph S. C. Crawford ... were arrested ... to answer charges of misappropriating the funds of that institution.
Source
newspapers
Newspaper Articles (18)
1.November 17, 1909The Washington TimesWashington, DC
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Article Text
PHILADELPHIA BANK CLOSES ITS DOORS Commissioner Orders American Trust Company to Suspend Business. 17.-The PHILADELPHIA, Nov. American Trust Company, Broad street and Ridge avenue, was ordered closed today by State Commissioner of Banking Smith. : Al Taber, State bank examiner, has been appointed temporary receiver. The trouble. according to Receiver Taber, was probably "undigested securities." It is claimed that the institution had never recovered from the panic of 1907. The capital of the bank is $200,000. and has a surplus and undivided profits of $74,878. Total deposits of the bank amount appreximately to $100.000
2.November 17, 1909Deseret Evening NewsSalt Lake City, UT
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Article Text
AM. TRUST CO. OF PHILADELPHIA CLOSED Philadelphia, Nov. 17.-The state department of banking today ordered the American Trust company of Philadelphia closed. A. L. Taylor, a state bank examiner, was appointed temporary receiver. Undigested securities probably caused the institution troubles. The company is a small concern and the failure had no effect on other institutions.
3.November 17, 1909The Marion Daily MirrorMarion, OH
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Article Text
AMERICAN TRUST COMPANY CLOSED By United Press Wire. Philadelphia, Nov. 17.-The American Trust Co. was ordered closed today by State Commissioner of Banking Smith. A. L. Taber, state bank examiner, has been appointed temporary receiver. The trouble according to Taber is probably "undigested securities." The capital of the bank is $200,000 and it has a surplus and undivided, profit of $74,878. Total deposits of the bank amount approximately to $400,000.
STATE BANK CLOSED. Harrisburg, Pa., Nov. 17.-The state department of banking today ordered the American Trust company of Philadelphia closed. A. L. Taylor, a state bank examiner, was appointed temporary receiver. Undigested securities probably caused the institution's troubles. The company is a small concern and the failure had no effect on other institutions,
5.November 18, 1909The Marion Daily MirrorMarion, OH
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Article Text
wa THE MEAT OF IT W. D. Lash, 63, for 34 years superintendent of the Zanesville (0.) schools, is dead. "Undigested securities" is assigned as the cause leading to the closing of the American Trust company of Philadelphia by order of the state bank commissioner. Charles W. Crittenton of New York, founder of the Florence Crittenton rescue homes for girls, died suddenly in San Francisco. Nathan I. Wilder, 67, the first manufacturer. of sauerkraut for commercial purposes, died at his home in Clyde, O. The Bellefontaine (O.) school authorities have canecled the remaining football games of the season, owing to numerous accidents to high school players.
6.November 18, 1909The Washington HeraldWashington, DC
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Article Text
Trust Company Closes. Philadelphia, Nov. 17.-The State department of banking to-day ordered the American Trust Company of Philadelphia closed. A. L. Taylor, a State bank examiner, was appointed temporary receiver and immediately took charge of the company's affairs. "Undigested" securities probably caused the institution's troubles. The deposits amount to about $400,00().
7.November 18, 1909New-York TribuneNew York, NY
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Article Text
PHILADELPHIA BANK CLOSED. Philadelphia, Nov. 17.-The American Trust Company, of Philadelphia, was closed to-day. A. L. Taylor, a state bank examiner, was appointed temporary receiver. Undigested securities probably caused the troubles. The company is a small concern, and the failure had no effect on any other financial institution. The deposits amount to about $100,000.
8.November 18, 1909Los Angeles HeraldLos Angeles, CA
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Article Text
Philadelphia Trust Company Closed PHILADELPHIA, Nov. 17. - The state department of banking ordered the American Trust company of Philadelphia closed today. A. L. Taylor, a state bank examiner, was appointed temporary receiver. Undigested securities probably caused the institution's troubles. The company is a small concern, and the failure had no effect on other institutions.
9.November 19, 1909The CitizenHonesdale, PA
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Article Text
TRUST COMPANY CLOSED. Philadelphia Concern Alleged to Have Made Unwise Loans. Philadelphia, Nov. 18.-Because it is understood the American Trust company of Philadelphia accepted as collateral security for a loan bonds of a coal company the value of which is uncertain the bank has been closed by order of State Commissioner of Banking William H. Smith. State Bank Examiner A. L. Taber was appointed temporary receiver. It is said the securities of doubtful value amounted to over $400,000.
10.November 19, 1909Watertown LeaderWatertown, WI
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Article Text
TRUST COMPANY FAILS. Philadelphia Institution with Deposits of $400,000 Is Closed by State Authorities. PHILADELPHIA, Pa., Nov. 17.The state department of banking today ordered the American Trust company of Philadelphia closed. A. L. Taylor, a state bank examiner, was appointed temporary receiver and he immediately took charge of the company's affairs. Undigested securities probably caused the institution's troubles. The company's deposits amount to about $400,000.
11.November 23, 1909The Free LanceFredericksburg, VA
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Article Text
PHILADELPHIA TRUST COMPANY FAILS The American, With $395,000 in Deposits, Closed. Philadelphia, Nov. 18.-The American Trust company, of Philadelphia, Broad street and Ridge avenue, closed its doors. This was done at the order of the state commissioner of banking and a state bank examiner, A. L. Taber, was appointed temporary receiver. The trouble is said to have been due to "undigested" securities. The banking commissioners' report sets forth that the company is "in an unsafe and unsound condition to do business," and is believed to be insolv. ent. A permanent receiver and a decree of dissolution will be asked for, and If there is any objection it is like. ly that disclosures will be made in court. A substantial depositor of the suspended bank stated that by "undigested" securities was no doubt meant loans which he understood the trust company had made to a concern manufacturing bricks at Passaic, N. J.; also money said to have been advanced on coal lands in West Virginia. The trust company's capital is $200,000, with a surplus of $47,000. De. posits amount to $395,000. Only $18,500 in cash was found in the vaults.
12.November 24, 1909New Ulm ReviewNew Ulm, MN
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Article Text
TRUST COMPANY SUSPENDS Undigested Securities Cause Failure of Philadelphia Institution. Philadelphia, Nov. 17.-The American Trust company was ordered closed by State Commissioner of Banking Smith. A. L. Taber, state bank examiner, has been appointed temporary receiver. The trouble according to Taber is probably "undigested securities." The capital of the bank is $200,000 and it has a surplus and undivided profits of $74,878. Total deposits of the bank amount approximately to $400,000.
13.November 24, 1909Smyrna TimesSmyrna, DE
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Article Text
Philadelphia Trust Company Fails. The American Trust company. of Philadelphia, doing business at Broad stret and hidge avenue, has closed its doors. This was done at the order of the state commissioner of banking and a state bank examiner, A. L. Taber, was appointed temporary receiver. The trcuble is said to have been due to "undigested" securities. A substantial depositor of the suspended bank stated that by "undigested" securities was no doubt meant loans which he understood the trust company had made to a concern man ufacturing bricks at Passaic, N. J.: also money said to have been advance ed on coal lands in West Virginia. The trust company's capital is $200,000, with surplus of $47,000. De posits amount to $395,000. Only $18,500 in cash was found in the vaults.
14.December 1, 1909The CitizenHonesdale, PA
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Article Text
Receiver for Trust Company. HARRISBURG, Pa., Nov. 28.The application for a permanent receiver for the American Trust Co. of Philadelphia, will be made in Dauphin County Court on Monday. To-day was the day set, but the matter was deferred. The company was closed by the State Banking Department about ten days ago.
15.May 30, 1910New-York TribuneNew York, NY
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Article Text
TWO BANKERS ARRESTED Brothers Charged with Misappropriating Funds. Philadelphia, May 29. - J. Kinnier Crawford, vice-president, and his brother, Joseph S. C. Crawford, socretary-treasurer, of the American Trust Company. which was ordered closed by Bank Examiner Tabor last November, were arrested and held in $10,000 bail each today to answer charges of misappropriating the funds of that institution. Frank H. Caven. the receiver, and Mr. Tabor testified at a hearing that transactions by which the bank was defrauded of almost a quarter of a million dollars will be disclosed. J. Kinnier Crawford, who is a practising physician, purchased a controlling interest in the institution in 1905. His brother was employed there at that time, but was not a stockholder.
16.May 30, 1910Alexandria GazetteAlexandria, VA
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Article Text
TWO BANKERS ARRESTED. J. Kinn'er Crawford, vice-president, and nis brother Joseph S. C. Crawford, secretary-treasurer, of the American Trust Company which wa ordered closed by Bank Bxaminer Tabor last November, were arrested and held in $10,000 bail eachin Philadelphia, yesterday, to answe r charges of misappropriating the funds of that institution. Frank H. Caven, the receiver, and Mr. Tabor testified ata hearing that transactions by which the bank was defrauded of almost a quarter of a million dollars will be disclosed. J. Kinnier Crawford, who is a practising physician, purchased a controlling interest in the institution in 1905, His brother was employed there at that time, but was not a stockholder.
17.May 30, 1910Alexandria GazetteAlexandria, VA
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Article Text
TWO BANKERS ARRESTED. J. Kinn'er Crawford, vice-president, and his brother Joseph S. C. Crawford, secretary-treasurer, of the American Trust Company which was ordered closed by Bank Bxaminer Tabor last November, were arrested and held in $10,000 bail eachin Philadelphia, yesterday, to answ r charges of misappropriating the funds of that institution. Frank H. Caven, the receiver, and Mr. Tabor testified at a hearing that transactions by which the bank was defrauded of almost a quarter of a million dollars will be disclosed. J. Kinnier Crawford, who is a practising physician, purchased a controlling interest in the institution in 1905. His brother was employed there at that time, but was not a stockholder.
18.May 31, 1910The Birmingham Age-HeraldBirmingham, AL
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Article Text
BANK OFFICIALS PUT UNDER ARREST Philadelphia, May 30.-J. Kinnier Crawford, vice president, and his brother, Joseph S. Crawford, secretarytreasurer of the American Trust company, which was ordered closed by Bank Examiner Tabor last November, were arrested and held in $5000 bail each today to answer charges of misappropriation of funds of that institution. Frank H. Cavein, the receiver, and State Bank Examiner Tabor testified at the hearing today and it is claimed that transactions by which the bank was defrauded of almost a quarter of a million dollars will be shown.
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.
