Article Text
SCRANTON BANK FAILS Pa., Sept. failed open its Bosak bank here The bank's deposits doors today. total more than $4,000,000.
19497. Bosak State Bank (Scranton, PA)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- state
- Start Date
- September 5, 1931
- Location
- Scranton, Pennsylvania (41.409, -75.662)
Metadata
- Model
- gpt-5-mini
- Short Digest
51365eac
Response Measures
None
Description
Multiple contemporaneous newspaper reports (AP items published Sept 5–6, 1931 and local Scranton coverage) state the Bosak State Bank 'failed to open its doors' and was 'closing', with deposits over $4,000,000. There is no explicit description of a depositor run prior to suspension in the provided extracts, nor mention of reopening; therefore this is classified as a suspension that resulted in closure. Cause is not specified in the articles, so marked as 'other'.
Events (2)
1.
September 5, 1931
Suspension
- Cause Details
- Newspapers report the bank 'failed to open its doors' / 'closing' on early September 1931; no explicit cause (no mention of run, examiner action, or specific bank scandal) is given in the extracts.
- Newspaper Excerpt
- SCRANTON BANK FAILS ... Bosak bank here failed to open its doors today. The bank's deposits total more than $4,000,000.
- Source
- newspapers
2.
September 12, 1931
Other
- Newspaper Excerpt
- Following the closing of the Bosak State Bank and the Anthracite Trust Company, doubt of the stability of the remaining banks filled the minds of the public, producing on Friday an hysterical situation.
- Source
- newspapers
Newspaper Articles (3)
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Article Text
LATE NEWS BRIEFS (Associated Press Leased Wire.) Kansas City, Sept. Reichers, Arlington, N. Bendix Trophy who was forced down at Beatrice, Neb., yesterday, took off here tday at 12:40 p.m. C.S.T. in an attempt to better the Karasas time of Major Jimmie Doolittle, who distance yesterday in hours minutes 30 seconds. Leased Wire.) Oslo, Norway, Sept. Hubert Wilkins reported by radio from his polar submarine Nautilus this evening that the craft had been damaged in dive under the ice pack, but the damage was not of a serious nature. (Associated Press Leased Wire.) London, Zeppelin, bound homewards Sept. from cruise to Brazil, her position at a.m. Eastern Standard time) today as being 15.51 degrees north west gitude, and said she was nearing the Verde islands at 50 miles an hour. The message Cape came through the New Brooklyn. Press Leased Wire.) Bosak bank here failed to Scranton, Sept. open its doors today. The bank's deposits total more than $4,000,000.
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Article Text
Following the closing of the Bosak State Bank and the Anthracite Trust Company, doubt of the stability of the remaining banks filled the minds of the public, producing on Friday an hysterical situation. The Dime Bank-Lincoln Trust Company paid out continuously all day large amounts of money to its depositors. We were glad to reassure our depositors and satisfy their worries with the payment of this currency. this city and it will continue to render ever increasing service to the community. This bank has been for many years a member of the National Federal Reserve System. It was recently thoroughly examined by representatives of this system, as well as by the State Banking Department. This examination showed the bank to be in very satisfactory condition at that time, and that condition has not changed. We wish to call the public's attention to the fact that our last published balance sheet was an excellent statement and reflected the market value of securities as of the close of business on June 23rd, 1931, which was a low point in market quotations. We, the Directors of the Dime Bank-Lincoln Trust Company, wish the public to know that we as individuals have never doubted the stability of this institution and that we have every confidence in its future. E. L. MERRIMAN Treasurer Paragon Plaster & Supply Co. URBANE A. NOBLE Treasurer Co. HOMER J. NORTHUP Farmer. JOSEPH'F. O'HORA Plumbing Fixtures and Supplies. F. L. PECK President United States Lumber Co. President Mississippi Central R. R. Co. GEORGE PHILLIPS Geo. Phillips & Co., Wholesale Jewelers. M: J. RAFFERTY Coal Operator. EDWIN H. SHAFER Treasurer Dime Bank-Lincoln Trust Co. SETH W. SHOEMAKER Vice President Dime Bank-Lincoln Trust Co. DAVID SPRUKS President David Spruks Co., Wholesale Grocers. AUGUSTUS M. STORR Wholesale and Retail Grocer. JAMES T. SWEENEY Contractor. LOUIS G. SYLVESTER Formerly President Scranton Button Co.