Borough Bank - Brooklyn, NY

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: November 2, 1932
Location: Brooklyn, New York (40.660, -73.951)

Metadata

Model: gpt-5-mini
Short Digest: 2cf78db4

Response Measures

None

Description

Article (Brooklyn Eagle, 1932-11-02) refers to the Borough Bank as 'closed' while state bank examiners were completing its books and mentions plans/meetings for reopening a branch and that depositors placed funds elsewhere to weather 'current bank panics.' This indicates a suspension with intent/efforts to reopen rather than an outright failure. Cause classified as government action because state examiners were involved in completing its books.

Events (1)

1. November 2, 1932 Suspension

Cause: Government Action
Cause Details: State bank examiners were completing the bank's books; bank was closed under supervisory/examiner action during the bank panic period; plans reported for reopening a branch soon.
Newspaper Excerpt: While the State's bank examiners were completing their books ... the closed Borough Bank
Source: newspapers

Newspaper Articles (1)

1. November 2, 1932 Brooklyn Eagle Brooklyn, NY

Article from Brooklyn Eagle, November 2, 1932

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Article Text

Years This Ago While the State's bank examiners were completing their books eighth ward branch, 51st and Ave., the closed Borough Bank, reports were current that the branch bank would warrant its opening within week. mass meeting of positors the Theater being planned means for the reopening of the institution. In spite of Mayor McClellan's call for city work on the Ave. subway would Controller announced. necessary which will be required begin work will appropriated Public Service Commission is Metz stated. donkey party was given by Lady Hancock of at Prospect Hall. More than 200 peresons attended. The regular monthly meeting of the Bay Ridge held with President Cuming the senior basketball team the Ridge Club was decided upon at the meeting. Through the closing of the Borough Bank threw Home Bank Bay Ridge 48th and 5th reported of depositors their from institution. bank creased deposits in order to weather current bank panics. The Young Men's Hebrew Association of Brooklyn opened season listening addresses Prendergast, Bruckbauer former Senator Burton. Among those present the meeting Michael president the M. A., and Percival Menken. Halloween party was held by the Lorelei Club the home Miss Anna K. Hemmer, 365 St. Shoe men on 3d and 5th Aves. got together this week agreed among themselves keep Sabbath by remaining shut Sundays. Other stores expected to fall line and follow the shoe men's plan. The Redemptorist Fathers of Bay Ridge laid plans this and rectory their bounded by 5th 6th 59th 60th Sts. architectural plans Lady Help which the parish charge the Redemptorist Fathers, will be completed. The estimated cost The world famous minstrel star and comedian. Eddie opened Keeney's Theater in act.