Commonwealth National Bank - Philadelphia, PA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 623
Charter Number: 623
Start Date: October 20, 1891
Location: Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model: gpt-5-mini
Short Digest: 984db46b

Response Measures

None

Description

Article (New-York Tribune, 1891-10-20) states the Commonwealth National Bank 'is about to go into liquidation' and its business will be transferred to the Seventh National Bank. No run is mentioned; this is a voluntary winding up/transfer leading to closure.

Events (3)

1. December 14, 1864 Chartered

Source: historical_nic

2. October 20, 1891 Suspension

Cause: Voluntary Liquidation
Cause Details: Article explicitly states the bank 'is about to go into liquidation' and its business will be transferred to the Seventh National Bank.
Newspaper Excerpt: Conrad B. Day, of Commonwealth National Bank, which is about to go into liquidation, has been elected president of the Seventh National Bank, ... and the business of the Commonwealth will be transferred.
Source: newspapers

3. December 31, 1891 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. October 20, 1891 New-York Tribune New York, NY

Article from New-York Tribune, October 20, 1891

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Article Text

PROPOSED PERMANENT INVESTMENTS. BONDS TO BE ISSUED. Amount Character. Brooklyn, Location. N. Y.-Nassau Gas Company has given notice of intention to issue additional $250,000 stock at par to amount of Company has been paying 6 per 1,000,000 cent dividend on capital and $700,000 scrip. Latest quotations, 132; latter, 98. Increase IN for establishment of a water-gas Clinton, Mo.-Henry plant. County voted October 13, by almost unanimous vote, to issue 50,000 bonds for Court House for Rate and term to run not yet advertised. Henry County has 28,000 population; Clinton, county seat, 4,600; 4 banks and 3 railways. ADVANCE BOND NEWS. Haverhill, Mass.-The 4 per cent bonds of the $70,000 city to amount of and the 4 per cent 30-year bonds to 50,000 amount of were sold to Messra. Brewster, Cobb & Esterbrook, Boston, at a price not to be obtained from buyer or seller. Kansas City, Mo.-A jury recently gave a verdict against the city in an assessment case known as "The West 61,893.80 Terrace Boulevard Case" for and an ordinance was passed providing for an appropriation to pay the verdict. A substitute ordinance, confirming the verdict, but making no appropriation. was nassed October 14. This was done to enable City Counsellor Rozz to appeal the case to the Circuit Court, which he said he hoped would greatly reduce the amount to be paid by the city. NEW BANKS. Amount Title. Location. West Superior, Wis.-New bank to be started by Messrs. Cadwallader & Baker. of Bryn Mawr, Penn., will have cap$500,000 i'a of and open for business November 1. Philadelphia, Penn.-Conrad B. Day, of Commonwealth National Bank, which is about to go into liquidation, has been elected president of the Seventh National Bank, vice President Robert L. Brownfield, resigned : and the business of the Commonwealth will be transferred. as far as possible, to the Seventh National. Several old directors of the Commonwealth Bank go into the directory of the Seventh National. ELECTRIC LIGHT AND RAILWAY COMPANIES. Newark, N. J.-Edison Illuminating and Power $500,000 Company with power to increase to $1,000,000. to light city by electricity conveyed underground, and to propel streetcars without trolley overhead wires. CORPORATIONS SEEKING CAPITAL Berlin, Wis.-Berlin Machine Works, W. B. $100,000 Tates, president New iron industry. Baltimore, Md.-Williams Engine Company, Samuel T. Williams, president: to manufacture a new style of steam 50,000 engines