19491. Royersford Trust Company (Royersford, PA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
June 10, 1932
Location
Royersford, Pennsylvania (40.184, -75.538)

Metadata

Model
gpt-5-mini
Short Digest
0df34daf

Response Measures

None

Description

Articles indicate the Royersford Trust Company closed (suspended) on June 10, 1932 and a receiver (George J. Brinton) was appointed June 28, 1932. Subsequent reporting (1933) describes criminal indictments/convictions for large shortages (~$300,000) at the closed bank and loans made to the closed institution. There is no mention of a depositor run in the provided articles; closure appears due to bank-specific adverse information (embezzlement/defalcation) and resulted in permanent closure with a receiver.

Events (4)

1. June 10, 1932 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed amid indictments/shortages totaling nearly $300,000 (embezzlement/defalcation by officers).
Newspaper Excerpt
The bank closed last June 10.
Source
newspapers
2. June 28, 1932 Receivership
Newspaper Excerpt
The Department of Banking announced today that George Brinton had been appointed by Secretary William D. Gordon as receiver for the Royersford Trust Company.
Source
newspapers
3. January 26, 1933 Other
Newspaper Excerpt
$60,000 loaned to this closed Royersford Trust Company from the banks ... Southeastern loans to the closed Royersford Trust Company.
Source
newspapers
4. March 24, 1933 Other
Newspaper Excerpt
Two former officials of the closed Royersford Trust Company, pleaded guilty charges of funds ... The men ... were indicted counts nearly $300,000. The bank closed last June 10.
Source
newspapers

Newspaper Articles (4)

Article from The Philadelphia Inquirer, June 29, 1932

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Article Text

Assails Couzens on Rail Salaries Continued From Page 19 son's? Couzens waxes several times as rich as Edison. Andrew W. Mellon rendered his greatest service to America after he entered public life, as Secretary of the Treasury, in 1921. Whereas he had rolied up one of the largest fortunes in America before then, his pany. pay for his Government service was $15,000 year. The notion that money is the correct yardstick for measurin the worth of service rendered by an individual or corporation strictly an American notion. It prevails in no other civilized land. You will grasp how ridiculous It is if you merely ask, "did the amount an individual or corporation was earning and was worth three years ago represent the of his or its services; or, do today's earnings and worth represent the accurate value?" Manifestly, one or the other cannot be correct- especially since most individuals and corporations are working and struggling much harder now than three years ago. So, just because your earning power or your bank account has suffered contraction, don't conclude that you have made failure your life. Genuine merit isn't necessarily measured by money. (Copyright 1932) Named Bank Receiver HARRISBURG. Pa., June 28 (A. P.).-The Department of Banking announced today that George Brinton had been appointed by Secretary William D. Gordon as receiver for the Royersford Trust Com-


Article from The Reporter, June 30, 1932

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Article Text

Second Half Starts Local Teams In New Quest For Damond Honors ASEBALL TEAMS in the North Penn and Bux-Mont sections ill wipe their slates clean and fart anew in the quest for diaiond honors over the coming July yourth week-end, when the sechd half of the season starts in all agues which operate in these The past few weeks have seen radual changes in the line-ups of jost all the teams, looking toward aking a clean and strong start ther over the holiday week-end just after it. Only a few of most outstanding teams have had this object in mind when hanges in personnel were made. Glenside Tops County Loop The Montgomery County League as already finished its dogged first alf fight against the weatherman, nd will be prepared to sail into second half schedule with a on Sunday and Monday. Glenside was awarded the first Mf title in this circuit because of perversity of the weather durng the first part of the season. The members of the league deded that the maze of postponed ames on account of rainy weather as too great to be solved, and so owed graciously to Glenside, the 32 champion of, the league, for lower end nine has lost but one ame in the first half. Only Amler had a chance to overcome the ong lead that the Glenside club ad taken. and the chances were SO mall that Ambler gave them up r the good of the league. Financial matters proved a bugar to the league during the first alf of the season, and since these greatly influenced by the eather. the members of the league ope they will be improved during last half. Expect Close Race The second half race in the bunty League should prove a rilling one, Jupiter Pluvius peritting, for at least three teams intent upon winning the title that part of the season in order get into the playoff at the end the season. Glenside is practically out of onsideration in the second half, it is to be supposed that club be satisfied with first half nors. Souderton and Doylestown sure to be in the thick of second half fight, and Ambler do its best to stay up as intender. at least. Lansdale, proding it gets the support it needs, prove no push-over for the ries. The Doylestown club, which was aten out by a close margin the first and second halve season, is rabid in its ambi to get into the playoff game season. The Seaters did no a brilliant performance in half. but during the past eks have been preparing stead the second half, when they counted upon as one of ongest teams in the circuit. Erdenheim Ahead in League In the North Penn League Eheim has clinched the first after a close race with Cd int A. A., the new organizain the circuit Cold Point has given the Erchim club a close run throught first half, but the vetan imber of the league has maned stay just in front of the noite last week the new Cold int ib lost its chance to finishthe ahead or in a tie North Wales and Telford ere only teams in the circuit ich ually halled from the orth an Valley. and neither of hese were in the race afte the few contests. Telford stayed at the foot the gue, suffering some 0 the ghest luck that good baclub have and frequently losg its hes by Walers Looked Good Jorth Wales fared betterLarry placed strong teamn the in the first half inased its strength from me to but constantly fell ort of king his club as the ostandone in the loop. low that Buck has resied his followers of the intepf that are anxious to see/hat it do during the secondialf. may be expected th under new manager, there 11 be a aber of changes in thpersonof the team, but wheth it will able to get in there give strongly commercialid lower clubs a good battle a ques- Velford. with its team youngwill try to do bet in the and half than it d in the when it won only he game, andthat by a fluke. The upper endyoungsters lost most of their games by extremely close scores, hoever. holding well down on sore of the strongest teams of the leaue With just mite more luck Telord may be able to go places in he concluding half of, the sea- Moose Have Clear Record mong the local baseball organizsions, the Moose in the Lansdae Industrial-Community League have made the most outstanding shwing. going through the first hif without defeat for the secThe team is now intent on takthe second half and clinching bague title for the season wthort the necessity of playing a pist-sason series. Hovever, there are two other teamsin the loop which will have someting to say in the matter, both the Eagles and Interstate. The lagles made a poor start in the lop. but are now probably the secon strongest nine. Eagle team is practically the samone which represents Souderton n the Montgomery County Leage. and yet it is only in second placin the Lansdale league. This give/local fans some idea of the stretth of their league. Even the Junr Mechanics. who have not wor a game, stand among the strogest elubs in this section. The Metanics have been winning consistatly outside of the league. althgh they have not been able to clic in loop games. terstate. which has been one of the strongest teams in the leaue for number of seasons, will gij plenty of competition in the send half, when both the Eagles an Interstate will tighten up. Waler Teams Draw Interest "he newly organized North Wles baseball league will furnish ridents of that borough with lots dexcitement during the remainder othe season, with all of, the teams the thick of the fight. Name Bank Receiver The State Department of Banking Is announced the appointment of eorge J. Brinton as receiver for e Royersford Trust Company. Thompson Heads Club William C. Thompson assumed he presidency of the Norristown Lions Club at the weekly meeting the club at noon today. He sucteeds Charles G. Sellersville Meets Firemen The Sellersville team of the Perthe Perkasie Firemen the latter's diamond, Thursday night.


Article from The Daily Republican, January 26, 1933

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BUSINESS REPORT Was Loaned in Five Months; Complete Report Submitted to Garner $60,000 LOANED TO TRUST Announcement made noon today Associated Press among the banks Southeastern loans from the the closed Royersford Trust Company. The loaned to this tion was $60,000. which paid statement not whether the repayment was made before the institution closed. whether the payment has made by the bank's ceiver.


Article from The Times-Tribune, March 24, 1933

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TWO BANKERS SENTENCED Norristown, Pa., March 24 Two former officials of the closed Royersford, who Trust Company, pleaded guilty charges of funds the given sentences from to ten years in Eastern Penitentiary today. The men, Frank former sistant trust officer, and Howard Grander. former vice president and treasurer were indicted counts nearly $300,000. The bank closed last June 10.