Miners Savings Bank & Trust Company (Olyphant, PA)

Episode Information

Episode UID
60051771581
Episode Type
Suspension โ†’ Closure
Bank Type
state
Bank ID
6005177 routing
Routing Number
60-0517
Start Date
September 30, 1931
Location
Olyphant, Pennsylvania (41.468, -75.603)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
56ddb05c9690ba2b

Response Measures

None

Description

Directors decided to close the bank to protect the bank's assets.

Events (1)

1. September 30, 1931 Suspension
Cause
Voluntary Liquidation
Cause Details
Board of directors voted to close the bank to protect assets; closure initiated by directors rather than explicit government action.
Newspaper Excerpt
OLYPHANT, PA., BANK CLOSED ... The Miners Savings Bank and Trust co. at Olyphant, near here, closed Wednesday. The deposits approximated three million dollars. Directors decided to close in order to protect the bank's assets.
Source
newspapers

Newspaper Articles (3)

Article from Des Moines Tribune, September 30, 1931

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Article Text

STATE SURVEY BEGINS FRIDAY Conservation Project Office to Be Opened. Work on the survey of the state with view of establishing a long time conservation program will begin Friday when representative of Jacob of Chicago, will set up an office here. Ralph Kittinger. secretary of the state of conservation. made the announcement, said the first payment made by the state on Crane's which signed this week by members of the board and the fish and game commission. Crane's bid for the survey which he expects will take approximately two years to plete, was OLYPHANT. PA., BANK CLOSED SCRANTON, PA The Miners Savings Bank and Trust co. at Olyphant, near here, closed Wednesday. The deposits approximated three million dollars. Directors decided to close in order to protect the bank's assets. 2ND OTTAWA BANK CLOSED. ILL. National City bank of Ottawa failed to open Wednesday. It was the second Ottawa bank to close in two days, the Ottawa Banking and Trust co. having closed Tuesday Both actions were initiated by their boards of directors. The Na tional City bank had deposits of 1,17 on June 30.


Article from The Cincinnati Enquirer, October 1, 1931

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Article Text

SMALL BANK SUSPENDS The Miners Savings Bank and Trust Company, at Olyphant, near closed its doors today The deposits ximated $3 Michael President of the was also head of the Bosak State Bank here, which closed some weeks ago.


Article from The Cincinnati Enquirer, October 1, 1931

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Article Text

SMALL BANK SUSPENDS. Scranton, Pa., September 30-(AP) The Miners' Savings Bank and Trust Company, at Olyphant, near here, closed doors today. The deposits approximated $3,000,000. Michael Bosak, of the bank, was also head of the Bosak State Bank here, which closed some weeks ago.