Citizens Title & Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: April 6, 1934
Location: Uniontown, Pennsylvania (39.899, -79.724)

Metadata

Model: gpt-5-mini
Short Digest: c104b166

Response Measures

None

Description

Article (Apr 6, 1934) lists Citizens Title & Trust Company among closed state banks in PA awaiting RFC funds and indicates state bank receivership delays producing securities. No mention of a depositor run; the bank is closed and in receivership.

Events (2)

1. April 6, 1934 Receivership

Newspaper Excerpt: the only reason the cash hasn't been transferred is dilatory methods of Pennsylvania state bank receivers which have failed as yet to produce the securities to be hypothecated for the loans. (refers to closed state banks including Citizens Title & Trust Company).
Source: newspapers

2. April 6, 1934 Suspension

Cause: Government Action
Cause Details: Bank is listed among closed state banks placed in receivership by state banking authorities; closure and payment delay due to receivers failing to produce securities for RFC loans.
Newspaper Excerpt: allocation showed that sizeable payments would be made by four Fayette county institutions, including the Citizens Title & Trust company, Uniontown...the only reason the cash hasn't been transferred is dilatory methods of Pennsylvania state bank receivers which have failed as yet to produce the securities to be hypothecated for the loans.
Source: newspapers

Newspaper Articles (1)

1. April 6, 1934 The Evening Standard Uniontown, PA

Article from The Evening Standard, April 6, 1934

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Article Text

WAKE UP, BANKING DEPARTMENT ! Some weeks ago the News Standard carried a United Press dispatch that the R. F. C. had approximately $50,000,000 available for payment of dividends to closed state banks in Pennsylvania. The allocation showed that sizeable payments would be made by four Fayette county institutions, including the Citizens Title & Trust company, Uniontown. Since then nothing has happened. Now the R. F. C. reiterates its original statement, adding that the only reason the cash hasn't been transferred is dilatory methods of Pennsylvania state bank receivers which have failed as yet to produce the securities to be hypothecated for the loans. There is a general demand from thousands and thousands of depositors-all of whom could use that money-that the state banking Department get busy. There certainly seems something to explain.