Article Text
BANK SUSPENDS. Philadelphia, Sept. 6.-The South Phfiadelphia state bank suspended activities today and state banking officials are making an examination of its condition. It was stated the
South Philadelphia State Bank (Philadelphia, PA)
Episode Information
- Episode UID
3014371497- Episode Type
- Suspension → Closure
- Bank Type
- state
- Bank ID
-
301437routing - Routing Number
3-0143- Start Date
- September 6, 1924
- Location
- Philadelphia, Pennsylvania (39.952, -75.164)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
815907abe3c7e980
Response Measures
None
Description
Articles report suspension followed by closing by authorities and embezzlement/shortage; receiver implied.
Events (3)
1.
September 6, 1924
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Reported nearly $1,000,000 shortage in reserves prompted examination and suspension.
- Newspaper Excerpt
- The South Phfiadelphia state bank suspended activities today and state banking officials are making an examination of its condition.
- Source
- newspapers
2.
September 9, 1924
Other
- Newspaper Excerpt
- The closing by the authorities of the South Philadelphia State bank ... A shortage of almost a million dollars in the reserves of the bank led to investigation and suspension of payment. A warrant for the arrest of Edward A. Fichera, the treasurer, was sworn out ... Several of the minor officials are also missing.
- Source
- newspapers
3.
September 9, 1924
Receivership
- Newspaper Excerpt
- The closing by the authorities of the South Philadelphia State bank ... state banking officials are making an examination of its condition.
- Source
- newspapers
Newspaper Articles (2)
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Article Text
FASCIST BANK GOES BROKE IN QUAKER CITY Black Shirt President Kicks the Bucket (Special to The Daily Worker) PHILADELPHIA, Sept. 9.The closing by the authorities of the South Philadelphia State bank, operated by prominent Fascist sympathizers, has swallowed up the savings of the four thousand Italian working men and women who had deposited their savings. A shortage of almost a million dollars in the reserves of the bank led to investigation and suspension of payment. A warrant for the arrest of Edward A. Fichera, the treasurer, was sworn out by the chief examiner of the banking department. Fichera disappeared from his home the day before the bank closed and has not been seen since. Several of the minor officials are also missing. It is reported that they escaped with over $27,000. The president of the bank, Joseph Cerrotti, collapsed in his home and died instantly. Receipt of the news