Spring Garden Bank - Philadelphia, PA

Episode Information

Episode UID: 7797437791093
Episode Type: Suspension → Closure
Bank Type: trust
Bank ID: 779743779 hash
Start Date: January 1, 1891*
Location: Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 6b142fb42aa908fb

Response Measures

None

Description

Failure is mentioned only as a historical fact (1891) in an obituary; additional sources could confirm details.

Events (1)

1. January 1, 1891* Suspension

Cause Details: Article only states the bank failed in 1891 without giving a reason.
Newspaper Excerpt: But in 1891 the bank failed.
Source: newspapers

Newspaper Articles (1)

1. May 7, 1932 Evening Courier Camden, NJ

Article Text

CHARLES S. CALWELL, PHILA. BANKER, DIES Corn Exchange President Noted for New Departures in Finance Methods Charles Sheridan Calwell, president of the Corn Exchange National Bank & Trust Co., Philadelphia, died last night at his home, Wissahickon and Westview avenues, Germantown. He was 60 and had been ill two weeks with a kidney ailment. Mr. Calwell, who is survived by his widow and four daughters, started his career as an office boy, becoming one of Philadelphia's foremost bankers, one of its civic leaders and its outstanding expert in foreign trade. He had been with the Corn Exchange Bank 41 years and for the last 21 years had been its president. He obtained his first job in 1886 as a boy of 15 in the old Spring Garden Bank, Twelfth and Spring Garden streets, having left high school in his freshman year to take the job at $5 a week. He was considered a "rising young man" even then. But in 1891 the bank failed. Soon afterward he obtained the job that was to lead him to the peak in the financial affairs of Philadelphia. His first position with the Corn Exchange Bank was as assistant teller. Fourteen years later he was cashier. Five years later he became vice president and in 1910 he was elected president. During his guidance of the bank's affairs it rose from a small institution to one of the five largest in the city in point of deposits. When he became president its resources totaled $22,000,000. The annual report for 1931 showed resources of more than $95,000,000. In March, 1929, he startled banking circles by taking over the Union Bank & Trust Co., Third and Arch streets, an institution that was near collapse as a result of disclosures made by the August, 1926, Grand Jury. CHANGE TO BE ASKED IN BISHOPS' SLATE M. E. Conference Expected to Lower Age of Retirement to 70 Atlantic City, May 7.—The committee on episcopacy of the General Conference of the Methodist Episcopal Church will ask the conference to disarrange its slate of appointments of bishops today. That is not the way recommendations of the committee reads, but it is what the change in the age of retirement of bishops means. The committee will ask the conference to approve reducing the retirement age from 73 to 70. If the conference concurs, eight bishops will retire at the next quadrennial conference in 1936, instead of three, and several men mentioned for important posts for the next four years probably would not be appointed for so short a term. Another battle which will come to the floor of the conference shortly is that concerning the ordaining of women as regular conference ministers. A resolution to this effect was defeated two to one in the committee on itinerancy, but Miss Florence Resor, of Buhl, Minn., has obtained 10 signatures of minority voters who will bring the request to the conference. The Methodist Episcopal Church South allows women to be ministers on equal status with men, but the Northern church only admits them to local preacher positions. Acting Secretary of State William R. Castle, addressing the conference, declared it was "as silly to brand the Kellogg pact as useless as it would be to brand the Ten Commandments as useless." He repeated his assertion that President Hoover is opposed to the use of the economic boycott as a means of putting teeth in the treaty. The sub-committee on social and industrial relations voted today to recommend that the general conference go on record as opposing capital punishment and favoring the end of lynch law. A resolution aimed at dispelling race discrimination was proposed, but not acted upon.