Merion Title & Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: October 28, 1931
Location: Ardmore, Pennsylvania (40.007, -75.285)

Metadata

Model: gpt-5-mini
Short Digest: 9415452e

Response Measures

None

Description

Article (The Evening Sun, 1931-10-28) reports Merion Title and Trust Company placed its affairs in the hands of the State Banking Department, indicating an official suspension/receivership action. No run or depositor agitation is mentioned in the excerpt.

Events (2)

1. October 28, 1931 Receivership

Newspaper Excerpt: The Merion Title and Trust Company ... today placed its affairs in the hands of the State Banking Department. The institution has assets of $11 478,000 and deposits of $7,300,000.
Source: newspapers

2. October 28, 1931 Suspension

Cause: Government Action
Cause Details: Placed its affairs in the hands of the State Banking Department (state regulatory intervention).
Newspaper Excerpt: Pennsylvania Bank Closed Philadelphia. Oct. 28 (/P)-The Merion Title and Trust Company. of Ardmore, with branches in Narbeth and Cynwyd. today placed its affairs in the hands of the State Banking Department.
Source: newspapers

Newspaper Articles (1)

1. October 28, 1931 The Evening Sun Baltimore, MD

Article from The Evening Sun, October 28, 1931

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Article Text

Produce Exchange Securities Mining [By the Associated Press giving sales, high, low and closing quo. Total sales today, 19,300 shares. Hill DIRECTORS CLOSE BANK City National, Of Paducah, Moves To Protect Depositors Paducah Ky Oct. 28 The City National Bank here was closed today by order of its directors. The bank September statement $4,807,000 and capital stock of $300,000 J. C. Utterback was president of the was incorporated in 1873 A year ago absorbed the Trust and Savings Bank and the First National Bank after failure of the National which Bank of Kentucky, of Louisville Still "irst National had affiliated Paul tional Bank for pointed today the Currency as The directors announced heavy withdrawals and shrinkage in value of the bank's bond holdings had forced the closing to protect depositors. Pennsylvania Bank Closed Philadelphia. Oct. 28 (/P)-The Merion Title and Trust Company. of Ardmore, with branches in Narbeth and Cynwyd. today placed its affairs in the hands of the State Banking Department. The institution has assets of $11 478,000 and deposits of $7,300,000. Crops Biggest Asset Texas and California are the only States among the ten agricultural leaders which receive a larger proportion of their total agricultural income from crops than from live stock,