gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2e4cc177f0c0e764
Response Measures
None
Events (3)
1.June 21, 1905Other
Newspaper Excerpt
An excited crowd of depositors gathered about the doors, and the police had to be summoned to maintain order.
Source
newspapers
2.June 21, 1905Receivership
Newspaper Excerpt
A. H. Taber was appointed temporary receiver.
Source
newspapers
3.June 21, 1905Suspension
Cause
Government Action
Cause Details
Ordered closed by the Pennsylvania state bank examiner on June 21, 1905.
Newspaper Excerpt
The state bank examiner has ordered the City Trust Safe Deposit and Surety Company to close its doors.
Source
newspapers
Newspaper Articles (12)
1.June 21, 1905The Fairmont West VirginianFairmont, WV
Click image to open full size in new tab
Article Text
TRUST COMPANY CLOSES ITS DOORS TEMPORARY RECEIVER OF PHIL. ADELPHIA INSTITUTION HAS BEEN APPOINTED. PHILADELPHIA, Pa., June 21 The State bank examiner has ordered the City Trust Safe Deposit and Sure. ty Company to close its doors. A. H. Tabor was appointed temporary received The company was es. tablished in 1886 and is located at 927 Chesinut street. It has a capital of $500,000 and deposits are estimated at $2,580,000. The failure is one result of the forg. ings of the late Banker Gaskill. J. Hampton Moore, formerly chief of the Bureau of Commerce and Labor, in Washington, is president of the Trust Company.
2.June 21, 1905The Spokane PressSpokane, WA
Click image to open full size in new tab
Article Text
PHIEADELPHIA TRUST COMPANY IS CLOSED UP (Scripps News Association.) PHILADELPHIA, June 21.-The state bank examined today ordered the City Trust, Safe Deposit and Surety company to close its doors. A. H. Taber was appointed receiver. The concern had a capital of $500,000 and deposits estimated at $2,500,000.
3.June 21, 1905The Seattle StarSeattle, WA
Click image to open full size in new tab
Article Text
PHILADELPHIA, June 21.-The state bank examiner has ordered the City Trust Safe Deposit & Surety company to close Its doors. A. H. Taber was appointed receiver. The concern had a Tapital of $500,000 and the deposits are estimated at $2,500,000.
4.June 23, 1905The Birmingham Age-HeraldBirmingham, AL
Click image to open full size in new tab
Article Text
WILL PAY IN FULL. Receiver Is Busy Going Over Books of Philadelphia Bank Philadelphia, June 22.-Temporary Receiver Albert Taber of the City Trust Safe Deposit and Surety company, was busy all of today making a thorough investigation of the affairs of the company. He would not talk about the result of his work as far as he had gone, but the impression prevails that all depositors will be paid in full. President J. Hampton Moore stated today that the permanent receiver would be probably appointed within a week. It is said the plan now under consideration by the officers and directors of the corporation is to go out of business and organize a new company.
5.June 24, 1905New-York TribuneNew York, NY
Click image to open full size in new tab
Article Text
SAYS DEPOSITORS WILL BE PAID. Receiver for a Philadelphia Trust Company Makes Hopeful Statement. Philadelphia, June 23.-Albert L. Tabor, temporary receiver of the City Trust, Safe Deposit and Surety Company, which closed its doors on Wednesday, said to-day that he was confident that every depositor will be paid dollar for dollar. The deposits amount to $1,470,347, while a rough estimate of the sure assets, he said, would certainly aggregate $1,525,000. The fate of the depositors, however, will depend a great deal on the way the surety bonds of the company turn out. These now aggregate $25,000,000, and it is not known what the company may have to pay out through them. The solicitor of the trust company announced today that under the State law the surety claimants and depositors would stand on an equal plane. The depositors hoped that they would be made preferred creditors. The solicitor also announced that under a decision of State courts the company was not liable for losses that might accrue under its outstanding contracts for surety after the date of the appointment of the receiver. He advises all holders of contracts of suretyships to reinsure elsewhere.
6.June 24, 1905Evening JournalWilmington, DE
Click image to open full size in new tab
Article Text
DEPOSITORS WILL BE PAID Assets of Defunct Trust Company Exceed Deposits. Philadelphia, June 24. - Albert L. Taber, temporary receiver of the City Trust, Safe Deposit and Surety company, which closed its doors Wednesday, said that he was confident that every depositor will be paid dollar for dollar. The deposits amount to $1,470,347, while a rough estimate of the sure assets, he said, would certainly aggregate $1,525,000. The fate of the depositors, however, will depend a great deal on the way the surety bonds of the company turn out. These now aggregate $25,000,000, and it is not known what the company may have to pay out through them. The solicitor of the trust company announced that under the state law the surety claimants and depositors would stand on an equal plane. The depositors had hoped that they would be made preferred creditors. The solicitor also announced that under a decision of the state courts the company was not liable for losses that might accrue under its outstanding contracts of surety after the date of the appointment of the receiver.
7.June 25, 1905The Washington TimesWashington, DC
Click image to open full size in new tab
Article Text
CITY TRUST WILL PAY DEPOSITORS Time of Settlement, However, Is Uncertain. CREDITORS HOLD A MEETING Thirty Days May Elapse Before Affairs of Defunct Institution Are Settled Up. PHILADELPHIA, June 24.-While making encouraging statements that the depositors of the City Trust, Safe Deposit and Surety Company will probably receive the full amount of their deposits, neither J. Hampton Moore, the president, nor Albert Taber, the temporary receiver, are able to say definitely when the first payment will be made. It is thought at least thirty days will elapse before the affairs of the institution are in shape to warrant a partial liquidation of its obligations to the depositors. A meeting of the depositors was held at 1518 Chestnut street Friday evening and steps taken to form an organization to protect their interests. Col. Henry W. Gray, one of the founders of the company, and a stockholder and depositor, was elected permanent chairman, and William E. Chapman secretary. In addressing the meeting, which was representative of about one-third of the depositors, Colonel Gray said their action was not to antagonize the officers of the trust company. He declared he would not be satisfied with the appointment as permanent receiver of a man who could not or would not devote his entire time to winding up the affairs of the concern. Names Are Taken. The names and addresses of those present were taken by the secretary for the purpose of giving Colonel Gray an idea of whom to select for a committee to represent the depositors in their dealings with the trust company. At first it was suggested that the committee be composed of ten members, but after a discussion it was decided that this would make the body too unwieldy, and the size of the membership was left to the discretion of the chairman. Depositors who did not attend the meeting are expected to send their names and addresses to Colonel Gray, at 1518 Chestnut street. There was discussion as to the standing of the depositors as creditors, whether they were preferred or on the same plane with other creditors. Lincoln L. Eyre, a former counsel for the company and one of the depositors, said that the priority of a deposit claim to that of a bondholder's claim had never been established by the courts in reference to a trust company. Mr. Eyre is also one of the administrators of the estate of the late Benjamin Gaskill, whose forged stock certificates are responsible for part of the City Trust's losses.
8.June 26, 1905Evening StarWashington, DC
Click image to open full size in new tab
Article Text
Appointed Permanent Receiver. PHILADELPHIA, June 26.-J. Hampton Moore was today appointed permanent receiver for the City Trust, Safe Deposit and Surety Company of this city. The appointment was made on the application of Attorney General Carson. Mr. Moore was formerly chief of the bureau of manufacturers at Washington, and became president of the City Trust three weeks ago. The concern was closed by order of the banking department of Pennsylvania on June 21.
9.June 29, 1905The Gold LeafHenderson, NC
Click image to open full size in new tab
Article Text
DEPOSITORS WILL BE PAID Assets of Defunct Trust Company Exceed Deposits. Philadelphia, June 24. - Albert L. Taber, temporary receiver of the City Trust, Safe Deposit and Surety company, which closed its doors Wednesday, said that he was confident that every depositor will be paid dollar for dollar. The deposits amount to $1,470,347, while a rough estimate of the sure assets, he said, would certainly aggregate $1,525,000. The fate of the depositors. however, will depend a great deal on the way the surety bonds of the company turn out. These now aggregate $25,000,000, and it is not known what the company may have to pay out through them. The solicitor of the trust company announced that under the state law the surety claimants and depositors would stand on an equal plane. The depositors had hoped that they would be made preferred creditors. The solicitor also announced that under a decision of the state courts the company was not liable for losses that might accrue under its outstanding contracts of surety after the date of the appointment of the receiver.
10.July 1, 1905Morris TribuneMorris, MN
Click image to open full size in new tab
Article Text
Concluded from page 7. financial world to fairly gasp for breath Mr. Hendricks goes so far as to say that the only adequate remedy is to eliminate stock control, even though guarded, as proposed in the Ryan trust, and bring about complete mutualization. The present evils are traced back to the founder of the society, Henry B. Hyde, for inaugurating the system of using the society's money for the selfish ends of the offieers, especially in renting building space at a nominal rate to safe deposit companies in which they were interested. The various crooked transactions with special organized trust companies is described, and how J. H. Hyde and his friends took stock of the increased capital allotted to the society. Mr. Hendricks says that the officers and directors who profited by these various transactions should be compelled to make restitution, and the attorney general was expected to bring suits to compel them to disgorge. He tells how the young vice president, J. H. Hyde, exacted inordinate salaries for his friends and himself, and used his stock control to justify various extravagances. Forgeries Close Trust Company. Owing to the forgeries of Benjamin H. Gaskill, the City Trust, Safe Deposit and Surety company of Philadelphia closed its doors June 21 and went into the hands of a receiver. An excited crowd of depositors gathered about the doors, and the police had to be summoned to maintain order. Hyde and Alexander Out. Paul Morton, the new chairman of the board of directors of the Equitable Life Assurance society, announced June 20 that he had accepted the resignations of President Alexander and Vice President Hyde. This action came suddenly. after a rigid investigation of the society's affairs had been begun by Mr. Morton's own accountants. Lawson Says Rogers Cheated. In the July Everybody's Thomas W. Lawson tells how the National City bank was used to decoy Amalgamated investors and how H. H. Rogers cheated him out of $4,000,000 of his share of the copper deal profits. Mr. Lawson calls on the policy holders of the New York, Mutual and Equitable Life to take concerted action under his leadership for their protection. He urges them to have nothing to do with any committee and says that his plan has for its aim the preservation of the face value of all policies, the reduction of future premium payments and the restitution of millions looted from the three great companies.
11.October 7, 1905Evening Times-RepublicanMarshalltown, IA
Click image to open full size in new tab
Article Text
coal dealers. WOULD KILL RECEIVER OF BANK. "Depositor" Menaces J. H. Moore, of Failed Philadelphia Concern. Philadelphia, Oct. 7.-J. Hampton Moore, receiver of the City Trust, Safe Deposit and Surety Company, yesterday called the attention of the postal authorities to a threatening letter received by him. The letter is signed "A Depositor" and is in part as follows: "After watching your actions for months and being driven to desperation by you, I have decided to take the matter into my own hands. I swear I will blow your brains out if I do not get the money I have in the City Trust, the savings of years. I am in actual want, while wou, you dishonorable wretch, are living in luxury on poor widows' and children's savings, Before I end my own existence I will try mighty hard to end yours. Don't think this is written by a crank. It is a warning. Take heed." A statemtn made public by Receiver Moore yesterday showed the liabilities of the company to be almost double the assets.
12.May 3, 1915Evening Public LedgerPhiladelphia, PA
Click image to open full size in new tab
Article Text
City Trust Pays in Full Under the date of May 1, checks aggregating $122,371.80 have been sent to the creditors of the City Trust Safe Deposit and Surety Company, completing the discharge of all the liabilities of the company with the exception of interest on creditors' and stockholders' claims. The checks were sent by Congressman J. Hampton Moore, the receiver, and follow the fifth account rendered by the receivership to the Courts of Common Pleas since the failure of the trust company in 1905. More than $1,000,000 has now been paid to creditors.
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.
Flag Article for Review
Flag Episode for Review
City Trust Safe Deposit & Surety Company · UID 7574688891266
