Chestnut Street Trust and Savings Fund Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 10, 1901
Location: Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model: gpt-5-mini
Short Digest: b8bf4f34

Response Measures

None

Description

Articles state the Chestnut Street Trust and Savings Fund Company failed and that George H. Earle, Jr. is receiver; no run is described. The failure/receiver appointment implies a suspension and permanent closure/receivership. Dates in articles are June 10-11, 1901; failure likely occurred earlier but the court/receiver actions are reported on these dates.

Events (2)

1. June 10, 1901 Receivership

Newspaper Excerpt: suit was brought by George H. Earle, jr., receiver, against James S. McCartney, administrator of the Singerly estate, looking to the sale of Mr. Singerly's interests ... to satisfy the claims of the creditors of the defunct banking institutions. Judge McPherson sustained this decision.
Source: newspapers

2. June 10, 1901 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank failed (insolvency) related to affairs of William M. Singerly; creditors pursuing sale of Singerly assets to satisfy claims.
Newspaper Excerpt: Mr. Singerly had been president of the Chestnut Street National Bank and the Chestnut Street Trust and Savings Fund company, which failed, and suit was brought by George H. Earle, jr., receiver.
Source: newspapers

Newspaper Articles (2)

1. June 11, 1901 New-York Tribune New York, NY

Article from New-York Tribune, June 11, 1901

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Article Text

TO SELL SINGERLY INTERESTS. Philadelphia, June 10.-Judge McPherson, in the United States Circuit Court to-day, handed down an opinion authorizing the sale of the securities of The Record Publishing Company, formerly owned by the late William M. Singerly. Mr. Singerly had been president of the Chestnut Street National Bank and the Chestnut Street Trust and Savings Fund Company, which failed. and suit was brought by George H. Earle, jr., receiver. against James S. McCartney, administrator of the Singerly estate, looking to the sale of Mr. Singerly's interests in "The Record" to satisfy the claims of the creditors of the defunct banking institutions. Assistant United States Attorney-General James M. Buck was appointed master, and his report was favorable to the receiver. Judge McPherson sustained this decision. The court will fix the date of the sale.

2. June 15, 1901 Martinsburg Herald Martinsburg, WV

Article from Martinsburg Herald, June 15, 1901

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Article Text

To Sell Singerly's Record Stock. Philadelphia, June 11.-Judge McPherson, in the United States circuit court, yesterday handed down an opinion authorizing the sale of the securities of the Record Publishing company, formerly owned by the late William M. Singerly. Mr. Singerly had been president of the Chestnut Street National bank and the Chestnut Street Trust and Savings Fund company, which failed, and suit was brought by George H. Earle, Jr., receiver, against James S. McCartney, administrator of the Singerly estate, looking to the sale of Mr. Singerly's interests in The Record to satisfy the claims of the creditors of the defunct banking institutions. The court will fix the date of the sale.