Article Text
Can it be true that the Union National Bank of Philadelphia was forced to suspend because all the State funds but $10,000 were withdrawn to bolster up W. H. KEMBLE'S disreputable institution known as the People's Bank?
19215. Union National Bank (Philadelphia, PA)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 563
- Charter Number
- 563
- Start Date
- September 29, 1873
- Location
- Philadelphia, Pennsylvania (39.952, -75.164)
Metadata
- Model
- gpt-5-mini
- Short Digest
39945ff3
Response Measures
None
Description
Article reports the Union National Bank of Philadelphia was forced to suspend after state funds (except $10,000) were withdrawn to bolster the People's Bank. The cause is described as action by state authorities withdrawing state funds to another institution. The article does not mention reopening, so I classify as suspension leading to closure.
Events (3)
1.
November 3, 1864
Chartered
- Source
- historical_nic
2.
September 29, 1873
Suspension
- Cause
- Government Action
- Cause Details
- State funds (except $10,000) were withdrawn from Union National Bank to bolster the People's Bank, forcing suspension.
- Newspaper Excerpt
- Can it be true that the Union National Bank of Philadelphia was forced to suspend because all the State funds but $10,000 were withdrawn to bolster up W. H. KEMBLE'S disreputable institution known as the People's Bank?
- Source
- newspapers
3.
December 3, 1927
Voluntary Liquidation
- Source
- historical_nic
Newspaper Articles (1)
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