16534. Franklin Trust Company (Philadelphia, PA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust
Start Date
March 20, 1933
Location
Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model
gpt-5-mini
Short Digest
25851d0609fb8952

Response Measures

None

Description

Articles (Mar–Apr 1933) refer to the Franklin Trust Company as closed and report embezzlement charges against officials and actions to satisfy judgments. No mention of a depositor run prior to suspension; closure appears driven by bank-specific malfeasance/insolvency, so classified as suspension followed by permanent closure.

Events (3)
1. March 20, 1933 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed amid discovery/allegations of embezzlement and insolvency; officials later charged with embezzlement.
Newspaper Excerpt
closed Franklin Trust Company
Source
newspapers
2. March 21, 1933 Other
Newspaper Excerpt
Three officials of the closed Franklin Trust Company were charged today with embezzlement of bank funds.
Source
newspapers
3. April 29, 1933 Other
Newspaper Excerpt
Seizure of liquor stock to satisfy judgment in favor of the closed Franklin Trust Company.
Source
newspapers

Newspaper Articles (2)
1. March 21, 1933 The Baltimore Sun Baltimore, MD
Article from The Baltimore Sun, March 21, 1933

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Article Text

Three PhiladelphiaBank Officials Face Charges Warrants Allege Embezziement Of Funds Of Closed Franklin Trust Company Philadelphia, March 20 (/P)-Three officials of the closed Franklin Trust Company were charged today with embezzlement of bank funds. Assistant District Attorney Franklin E. Barr

2. April 29, 1933 The Philadelphia Inquirer Philadelphia, PA
Article from The Philadelphia Inquirer, April 29, 1933

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Article Text

Meenehan's Liquor Seized to Satisfy Bank Judgment $300,000 liquor stock William restauowner, 62nd and Walnut consisting about bottles kegs and seized night for the time in months, this time satisfy deputy sheriff armed with writ attachment cellar of home 6161 Walnut shortly afternoon and take the liquor When the deputy sheriff seizure Dr William Gordon, State Secretary Banking satisfy judgment $105,000 the closed Franklin Trust Company said that the had and securities pledged the bank which been him since the He after taking inventory every bottle, and said will peal Federal authorities today return holds its the him some months ago being raid.