Penn Trust Company - Philadelphia, PA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: September 28, 1931
Location: Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model: gpt-5-mini
Short Digest: dae4d620

Response Measures

None

Description

OCR in article is poor (mentions 'Northern Trust pany'), but headline clearly reads 'PENN TRUST FAILS PHILADELPHIA Sept 28.' Article states the bank and its five branches were closed by order of the state department of banking. No mention of a depositor run or reopening; closure appears to be government-ordered and permanent.

Events (1)

1. September 28, 1931 Suspension

Cause: Government Action
Cause Details: Closed by order of the state department of banking; bank declared to have failed and branches closed by regulators
Newspaper Excerpt: PENN TRUST FAILS PHILADELPHIA Sept 28. ... and its five branch offices ... were closed today order of the state department of banking
Source: newspapers

Newspaper Articles (1)

1. September 29, 1931 Spokane Chronicle Spokane, WA

Article from Spokane Chronicle, September 29, 1931

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Article Text

ARREST MACHINIST Accused of passing $15 worthless check on the Bech & Nelson service station, S503 Washington, Clarence Porter 22, machinest, alias Frank arrested Detectives Clyde Ralstin and Morgan last night. He charged with forgery PENN TRUST FAILS PHILADELPHIA Sept 28. The Northern Trust pany and its five branch offices various parts of the city were closed today order of the state department of banking