Solicitors Loan & Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: January 1, 1895*
Location: Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model: gpt-5-mini
Short Digest: 02887397

Response Measures

None

Description

The Solicitors' Loan and Trust Company had previously assigned (entered receivership) in 1895; assets were sold under the hammer Dec 28, 1897. No run or temporary suspension discussed — this is a failure with receiver and asset sale, i.e., permanent closure.

Events (2)

1. January 1, 1895* Receivership

Newspaper Excerpt: the Solicitors' Loan and Trust Company of this city, which assigned in 1895, were sold under the hammer to-day.
Source: newspapers

2. December 28, 1897 Other

Newspaper Excerpt: The assets of the Solicitors' Loan and Trust Company ... were sold under the hammer to-day. The sale netted $103,000 for property of a face value of nearly $1,000,000.
Source: newspapers

Newspaper Articles (1)

1. December 29, 1897 The Sun New York, NY

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Article Text

TRUST COMPANY'S ASSETS. The Property of the Solicitors' Loan Company of Philadelphia Sold Under the Hammer. PHILADELPHIA, Dec. 28.-The assets of the Solicitors' Loan and Trust Company of this city, which assigned in 1895, were sold under the hammer to-day. They consisted largely of titles and mortgages in Western property and sections of land in Oregon and the State of Washington and some tracts much larger. The sale netted $103,000 for property of a face value of nearly $1,000,000. A block of $190,000 first mortgage 6 per cent. bonds, 10-20, of the Chambers & McKee Glass Company, Jeanette, Pa., was knocked down to George E. Shaw of Chicago, Chairman of the Reorganization Committee, for $95,000, subject to a prior indebtedness of $43,000 due the Fourth Street National Bank and Girard Trust Company.