City Bank - Philadelphia, PA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 23, 1930
Location: Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model: gpt-5-mini
Short Digest: 92fe5f63

Response Measures

None

Description

Article (Tulsa Tribune, 1930-12-23) reports City Bank in Philadelphia failed to open today and was closed for the best interests of depositors amid runs on other local institutions; no reopening is reported in the text. The piece also mentions a run subsiding elsewhere and voluntary closings (e.g., Bankers Trust Co.), so I classify this as a suspension leading to closure. OCR in the article is garbled; corrected phrase interpreted as failed to open today and for the best interests of depositors.

Events (1)

1. December 23, 1930 Suspension

Cause: Voluntary Liquidation
Cause Details: Failed to open (suspended) for the best interests of depositors amid runs and voluntary closings of other banks in the city.
Newspaper Excerpt: City bank and the The Trust Savings failed to open today Officials said they were for the best interests of depositors.
Source: newspapers

Newspaper Articles (1)

1. December 23, 1930 The Tulsa Tribune Tulsa, OK

Article from The Tulsa Tribune, December 23, 1930

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Article Text

Run on Bank Subsides: 5 Others Closed Today PHILADELPHIA Dec officers run that Bank started on the Franklin Trust Co. Monday after the that the Bankers Trust Co. had voluntarily closed its doors to conserve its assets, began to subside today. City bank and the The Trust Savings failed to open today Officials said they were for the best interests of depositors. Two banks. the Riverside Trust and Pallotti Andretta & were today by Bank Co., following runs on both institutions which have been in progress since last Fla Daily and Sunday bank of Miami which City Outside Oklahoma run Monday the closing of the City Na lowing tional bank in Miami, did not open this morning NEW YORK York house banks today to render financial to of the closed Bank aid of United lined up before half Hundreds dozen of the bank and expected that before the day's end loans about $3,000,000 Circulation Department. would be made The Tulsa Tribune, may borrow equal to half their