Archbald Bank - Archbald, PA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: October 11, 1934
Location: Archbald, Pennsylvania (41.495, -75.537)

Metadata

Model: gpt-5-mini
Short Digest: 41c2a249

Response Measures

None

Description

Article (Oct 2, 1934) lists Archbald Bank among 'defunct Pennsylvania banks' making a dividend payment on Oct 11, 1934. The item indicates the bank had closed previously and is liquidating assets to pay dividends. The article does not describe any run; cause of suspension/closure is not given in the text.

Events (2)

1. October 11, 1934 Receivership

Newspaper Excerpt: the Archbald bank, of Archbald, Lackawanna county, will make a 5 per cent payment... on October 11.
Source: newspapers

2. * Suspension

Cause Details: Article only identifies the bank as 'defunct' and paying dividends; no reason for suspension/closure provided.
Newspaper Excerpt: six defunct Pennsylvania banks... The Archbald bank, of Archbald, Lackawanna county, will make a 5 per cent payment
Source: newspapers

Newspaper Articles (1)

1. October 2, 1934 Bradford Evening Star and The Bradford Daily Record Bradford, PA

Article from Bradford Evening Star and The Bradford Daily Record, October 2, 1934

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Article Text

SIX CLOSED BANKS TO PAY DIVIDENDS Philadelphia. Oct. -Dividend payments totaling $496,099.97 will be made to 33,053 depositors in six defunct Pennsylvania banks within the next two weeks. according to an announcement made here today by Dr William D. Gordon, state secretary of banking The Allentown Trust company of Allentown will disburse a 13 1-2 per cent dividend. amounting to $141.792.20 to its 11,555 depositors on October 14. The Miners and Mechanics Saving bank. Carbondale, Lackawanna county, will distribute a 5 per. cent dividend. amounting to $134,214.22 On October 11. the Archbald bank. of Archbald. Lackawanna county, will make a 5 per cent payment of $41.A twelve per cent dividend amounting to $129,497.50 will be paid to the 7,543 depositors of the Darby Bank and Trust company. of Darby on October 10 A nine per cent dividend. amounting to $21,258.74. will be distributed to the 971 depositors of the Citizens Bank of Barnesboro, Cahbria county, on October 8.