Full text of Records of the Federal Reserve System, Record Group 82 : Banking Holiday: State Moratoria, Philadelphia, Box 2165, Folder 6

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

Reproduced from the Unclassified I Declassified Holdings of the National Archives

DECLASSIFIED
Authority tlMDaoozfe

F

e d e r a l

R

e s e r v e

B

a n k

o f

P

h il a d e l p h ia

925 C H ESTNUT STREET
O ffice: o f the: C h a irm a n

R ICHARD

o f

the

: B oa rd

a n d

L.AUSTIN

F ederal

R e s e r v e

DEPARTMENT

OF

A g en t

BANK

EXAMINATION

E R N E S T C. H I L L
ASSISTANT FEDERAL RESERVE AGENT
ARTHUR E .PO ST
ASSISTANT FEDERAL RESERVE AGENT

H . B . DIETZ

T. F. M A U D E

C. F. EATON

W. H. S O U L E

Z . G . FENNER

S. A . W A L K E R
EXAMINERS

April 4, 1955,

Federal Reserve Board,
Washington, B.C.
Subjects

Dear Sirs:-

Reports on changes in the
status of banks located in
the Third Federal Reserve
District.

We beg leave to enclose you herewith reports reflecting changes
in the status of banks located in this District during the month of March
1953.




Reproduced from the Unclassified I Declassified Holdings of the National Archives

DECLASSIFIED
Authority HMD S o o z k

F. K. DISTRICT __ 3
BANKS WHICH DURING 1955, WITHOUT ACTUALLY CLOSING, OBTAINED DEPOSITORS1
WAIVER AGREEMENTS, OR WHICH RESTRICTED DEPOSIT WITHDRAWALS

Name and Location of Bank

Obtained
depositors*
waiver
agreements
Effective
date

Demand
deposit
withdrawals
restricted

Time deposit
withdrawals
restricted
beyond terms
of by-laws
Period during
which effective

DELAWARE
State Banks and Trust Companies
Felton Bank, Felton
Brandywine Trust & Savings Bank,
Wilmington

Period indeterminate
do

National Banks
First National Bank, Milton *

do

NEW JERSEY
State Banks and Trust Companies
Bankers Trust Co., Atlantic City
Equitable Trust Co.,
n
n
(b)
Guarantee Trust Co.,
n
n
(b)
Cape May County Title & Trust Co.,
Cape May Court House
Burlington County Trust Co*, Moorestown

do
do
do
do
do

National Banks
Clementon National Bank, Clementon *
Collingwood Natl. Bank, Collingswood *
First National Bank, Columbus *
Peoples National Bank, Lakewood *
Maple Shade Natl. Bank, Maple Shade *
Mechanics Natl. Bank & Trust Co.,
Millville *
Mt. Ephraim Natl. Bank, Mt. Ephraim *
Mt. Holly Natl. Bank, Mt. Holly *
First Natl. Bank & Trust Co., New Egypt *
First National Bank, Newfield *
Ocean City Natl. Bank, Ocean City *
Palmyra Natl. Bank, Palmyra,*
First National Bank, Pedricktown *
First National Bank, Pleasantville *
First National Bank, Port Norris *
First National Bank, Somers Point *
Tuekahoe Natl. Bank, Tuckahoe *




do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do

Reproduced from the Unclassified I Declassified Holdings of the National Archives

DECLASSIFIED
".4

Authority tiUD 3 0 0 2 k

Page 2.

F.

. Dll

JCT ___ 5

BANKS WHICH DURING 1955, WITHOUT ACTUALLY CLOSING, OBTAINED DEPOSITORS'
WAIVER AGREEMENTS, OR M IC H RESTRICTED DEPOSIT WITHDRAWALS

Name and Location of Bank

Obtained
depositors'
waiver
agreements
Effective
date

Time Deposit
withdrawals
restricted
beyond terms
of by-laws
Period during
which effective

Demand
deposit
withdrawals
restricted

PENNSYLVANIA
State Banks and Trust Companies
The Gosztonyi Savings & Trust Co., Bethlehem
Citizens Bank of Bowmanstown, Bowmanstown
Conshohocken Trust Co., Conshohocken
United States Svgs. & Trust Co.,
East Conemaugh
Lykens Valley Bank, Elizabethville
Victory Banking Trust Co., Girardville
Trust Company of Glen Rock, Glen Rock
Commonwealth Trust Co., Harrisburg
Union Trust Co.of Penna., Harrisburg
American Bank & Trust Co., Hazleton (b)
Jersey Shore Trust Co., Jersey Shore
The State Bank of Jersey Shore
Johnstown State Deposit Bank, Johnstown
Johnstown Trust Co., Johnstown
Morrellville Deposit Bank, Johnstown
Title, Trust and Guarantee Co., Johnstown
Farmers Trust Co., Lancaster
Northern Trust & Savings Co., Lancaster
Miners Deposit Bank & Trust Co., Lykens (b)
American Banking Trust Co., Mahanoy City
Mechanicsburg Trust Co., Mechanicsburg,
Media-69th St. Trust Co., Media
Miners State Bank, Minersville
Mohnton Trust Co., Mohnton
Guardian Bank & Trust Co., Philadelphia
Kensington Security Bank & Trust Co., Phila.
North City Trust Co., Philadelphia (b)
The Penna. Trust Co., Reading
The State Bank of Roulette, Roulette
Citizens' Bank, St. Clair
The Shillington Bank, Shillington
Sinking Spring Bank, Sinking Spring
West Reading Title & Trust Co., West Reading
Lycoming Trust Co., Williamsport (b)
Miners and Merchants Bank, Williamstown
Williams Valley Bank, Williamstown (b)




Period indeterminate
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do

Reproduced from the Unclassified I Declassified Holdings of the National Archives

DECLASSIFIED
Authority

Page 5.

F.

BIS

’
.CT __ 5

BANKS WHICH DURING 1955, WITHOUT ACTUALLY CLOSING, OBTAINED DEPOSITORS*
WAIVER AGREEMENTS, OR WHICH RESTRICTED DEPOSIT WITHDRAWALS

Name and Location of Bank

Obtained
depositors*
waiver
agreements
Effective
date

Demand
deposit
withdrawals
restricted

Time deposit
withdrawals
restricted
beyond terms
of by-laws
Period during
which effective

PENNSYLVANIA
National Banks
First National Bank, Ambler *
First National Bank, Bangor *
Farmers National Bank & Trust Co*, Bedford *
First National Bank & Trust Co., Bedford *
Berwyn National Bank, Berwyn *
Bethlehem National Bank, Bethlehem *
First National Bank, Birdsboro *
First National Bank, Burnham *
Burnside National Bank, Burnside *
First National Bank, Carbondale *
County National Bank, Clearfield *
First National Bank, Clifton Heights
Codorus Natl, Bank of Jefferson, Codorus *
Coplay National Bank, Coplay *
First National Bank, Cresson *
First National Bank, Darby *
Peoples National Bank, Delta *
Dickson City Natl. Bank, Dickson City *
Dover National Bank, Dover *
East Berlin Natl, Bank, East Berlin *
First National Bank, Elizabethville
First National Bank, Fawn Grove *
First National Bank & Trust Co.,
Fleetwood *
Farmers & Miners Natl, Bank, Forest City
First National Bank, Forest City
First Natl. Bank & Trust Co,, Frackville *
First National Bank, Freeland *
First National Bank, Gallitzin *
First Natl. Bank, Goldsboro (Etters P.0.) *
First National Bank, Gratz
Valley Natl. Bank, Green Lane *
First Natl. Bank & Trust Co., Hamburg *
First National Bank, Hastings *
First National Bank, Hawley
First National Bank, Hegins *
First National Bank, Herndon *
First National Bank, Johnstown *
United States Natl. Bank, Johnstown *



Period in<
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do

Reproduced from the Unclassified I Declassified Holdings of the National Archives

DECLASSIFIED
r

Page 4*

Authority VlUDaOOZta

F. R.

ISTR^ . __3

BANKS WHICH DURING 1933, WITHOUT ACTUALLY CLOSING, OBTAINED DEPOSITORS*
WAIVER AGREEMENTS, OR WHICH RESTRICTED DEPOSIT WITHDRAWALS

Name and Location of Bank

Obtained
.Depositors*
waiver
agreements
Effective
date

Demand
deposit
withdrawals
restricted

Time deposit
withdrawals
restricted
beyond terms
of bv-laws
Period during
which effective

PENNSYLVANIA - Cont'd.
National Banks
First National Bank, -Lake Ariel *
Lincoln Natl* Bank, Lincoln *
First National Bank, Lykens
First National Bank, McAdoo
Exchange Natl* Bank, Marietta *
First National Bank, Milford
Millersville Natl. Bank, Millersville *
First National Bank, Monroeton *
Union Natl* Bank, Mt. Wolf *
Narberth Natl. Bank, Narberth *
First National Bank, New Berlin
First National Bank, New Freedom *
Farmers Natl. Bank, Oxford *
First National Bank, Patton *
Peckville Natl. Bank, Peckville *
Mt. Airy Natl. Bank, Philadelphia *
Natl. Bank of Olney,
11
*
Northwestern Natl. Bank & Trust Co., Phila. *
Sixth National Bank, Phila. *
Southwestern Natl. Bank, Phila.*
Tulpehocken Natl. Bank & Trust Co., Phila. *
Commercial Natl. Bank, Phila.*
Lehigh Natl. Bank, Phila.*
Merchants Natl. Bank, Pottsville *
Farmers Natl. Bank & Trust Co., Reading *
First National Bank, Roseto *
First National Bank, Schaefferstown *
Union National Bank, Scranton *
Seven Valleys Natl. Bank, Seven Valleys *
Citizens Natl. Bank, Shenandoah *
First National Bank, Shenandoah
Spring Grove Natl. Bank, Spring Grove *
First Natl. Bank, Stewartstown *
Strausstown Natl. Bank, Strausstown *
Tower City Natl. Bank, Tower City *
First National Bank, Williamsport *
Yardley National Bank, Yardley *




Period indeterminate
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do

Reproduced from the Unclassified I Declassified Holdings of the National Archives

DECLASSIFIED
Authority U U D aoozk

i. R. DxoTRICT

5

BAMS WHICH DURING 1932-1933, WITHOUT ACTUALLY CLOSING, OBTAINED DEPOSITORS*
WAIVER AGREEMENTS, OR WHICH RESTRICTED DEPOSIT WITHDRAWALS

Name and location of bank

Obtained
depositors1
waiver
agreements

Demand
deposit
withdrawals
restricted

Effective
date

Time deposit
withdrawals
restricted
beyond terms
of by-laws
Period during
which effective

(b) State member institution,
*

Conservator has been appointed.

The date on which the foregoing banks went on a restricted basis is
not known, but the majority of them restricted operations at the time
of the declaration of the national holiday and have not been licensed
to reopen on an unrestricted basis.

•^Either with or without signed agreements of depositors.




(B-868 )

Reproduced from the Unclassified I Declassified Holdings of the National Archives

DECLASSIFIED
Authority

3002b

(COPY)
FEDERAL HSSMVS BJfflZ OF PHIL J5DSIPHIA

February 20, 1933

FEDERAL R S S W E BOARD,
Washington, D. C.
Dear Sirs Enclosed please find copies of circulars
issued by the First National Bank of Port Norris, N. J.
and the First National Bank, of Darby, Pa., announcing
a restrictive plan for payment of deposits.

Both

these institutions are returning checkB which we for­
warded to them for collection, in one case marked
“withdrawals restricted” and in the other case

11with­

drawal s refused11.
The Cape May County Title & Trust Company
Cape May, N. Y., a non-member banks, also is returning
their checks with the statement that withdrawals have
been restricted, and we enclose herewith a copy of the
statement which it has sent out regarding this mdtter.




Very truly yours,

(Signed) R. L. Austin
Chairman

>4-1

Reproduced from the Unclassified / Declassified Holdings of the National Archives

DECLASSIFIED

T

v

Authority U N P a o o zt,

4c

p y)

PSDERAX. ?.?S THS B A M OF PEILJUKLPEU

U-~7
T

February l6 , 1933

board,

fsdural

Washii^ton, D. C.

Attention of Mr, Morrill
Dear Sirs:
Unclosed please find circular issued by the
^ Mechanics National Bank and Trust Company of Millville, N. J.
to its depositors, about ifoich I was speaking to you this
morning.

Mr. Melvin, the president, informed roe that he

talked with the Comptroller of the Currency about this plan
before putting it in operation.

Yesterday they returned

all the checks ws had sent them the previous day and presume
they will continue to return them.

We have not heard what

action, if any, that any of the depositors of the bank are
going to take.




Very truly yours.

(Signed) 1. I. Austin
Chai m a n

0

, 3 CS)

Reproduced from the Unclassified / Declassified Holdings of the National Archives

DECLASSIFIED
Authority NMD
k

3002

F* JU

m it

-1953,

basks which mmim
vxrdm actually oosihg, o©taibs> wmsrtow* waiver
AQREE KiTS, OB 1HICH RESTRICTED DEPOSIT HITHBBAWALS
«-/ 7£> i?(
Obtain*!
dapoaltofa*
waiver

Iaae and location of bank

mgemmmatm

Dasaazui
deposit
withdrawal*
rastrictad

Effect!1**
.

Tim d ^ o s i t

withdrawal*
r*atrietod
beyond tersm
ofby-Oawt
Period d trlng
wfalrih .ffaes i s L - M .

____

NEW JERSEY
Guarantee Trust Co., Atlantic City
Cape May County Title & Trust Co.,
Cape**May Court House
Collingswood Natl. Bank,
Collingswood
Laurel Springs Natl. Bank, Laurel
Springs
Maple' Shade Natl. Bank, Maple Shade
Mechanics Natl. Bank, Millville
First National Bank, Newfield
First National Bank, Port Norris
First National Bank, Somers Point
Tuckahoe Natl. Bank, Tuckahoe

Period indeterminate
do
do

(a)
(a)
(a)

do

(a)
(a)
(a)
(a)
(a)
(a)
(a)

do
do
do
do
do
do
do

PENNSYLVANIA
Sometime during
1932
First National Bank, Darby
(a)
Commonwealth Trust Co., Harrisburg (a)
Jersey Shore Trust Co., Jersey Shore (a)
Farmers Trust Co., Lancaster
(a)
Northern Tr. & Svgs. Co., Lancaster (a)
Mechanicsburg Tr. Co., Mechanicsburg (a)
Media Sixty-ninth Street Trust Co.,
Media
(a)
First National Bank, Montgomery
(a)
First Natl. Bank, Moutoursville
(a)
Commercial Natl. Bank, Philadelphia (a)
Guardian Bk. & Tr. Co., Phila.
(a)
Kensington-Security Bk. & Trust Co.,
Phila.
(a)

First National Bank, Bakerton

f

f

t




t

h

a

g

do**
do
do
do
do
do
do
do
do
do
do
do
do

muff ii1 a j n t t i ' w »

(B-8 68 )

Reproduced from the Unclassified I Declassified Holdings of the National Archives

DECLASSIFIED
Authority

* . IU
BAMS VHIGB HJBBKi
t o m jmmmm,

XlUB#

WXTHUUT

I GhOStM, OBTAINED OIPOSIfQES*

on warn m m m m m
Obtained
depoeitors*
waiver

o f fatnir

5

diposxt iith eeaiials
f t m d ip o t lt
wdLtwb^i^weJUi
reafcrietad
beyond

tmmtkd
deponit
vitiidjfairaJLa
r e s tr ic te d
.............

"

E f& o ttw
SdE L _

Period during

^

#2
PENNSYLVANIA (Cont'a.) Lehigh Natl* Bank, Philadelphia
(a)
North City Trust Co., Philadelphia (a)
Northwestern Natl. Banlj; & Tr.Co..*.1 (a)
Sixth Natl. Bank, Philadelphia
1 fa)
Farmers Natl. Bank & Trust Co.,
Reading
(a)
Bank of So. Williamsport, So.
Williamsport
(a)
First Natl. Bank, Spangler
Sometime during
1932
First Natl. Bank, Williamsport
(a)
Lycoming Trust Co., Williamsport
(a)
Savings Institution of the City
of Wmspt, Williamsport
(a)

Period indeterminate
do
do
do
do
do
do
do
do

do

(a) - Effective on various dates during the period bet?/een Feb. 21, 1933, and
March 3, 1933. Exact date in each instance not available.
Restrictions on the above institutions affect both demand and time deposits. These
restrictions were at the inception of their imposition, or later, operative pursuant
to appropriate legislative and/or supervisory authority sanction.




(B-8 68 )

Reproduced from the Unclassified I Declassified Holdings of the National Archives

DECLASSIFIED
r

Authority

F. R. DIST.

T

5______________

BA3KKS THICH DURING 1932, WITHOUT ACTUALLY CLOSING, OBTAINED DEPOSITORS1 WAIVER
AGREEME*TTS, OR WHICH RESTRICTED DEPOSIT WITHDRAWALS
✓

*f 7®. iG

Name and location of bank

Demand
Time deposit
Ob tained
withdrawals
depositors1 deposit
withdrawals restricted
waiver
agreements restricted beyond terms
*
of by-laws*
Period during
Effective
which effective
date

None

We have heard from time to time informally that a few
banks in the bituminous coal producing area of western Pennsyl­
vania, principally in Cambria and Clearfield Counties, and in
the anthracite coal region of northern Pennsylvania in some
instances persuaded depositors to accept a portion of their
deposit balances where attempts were made to withdraw entire
balances or large sums, but we have no specific data on these
cases which would warrant their inclusion in your report. We
believe that the amounts involved in these instances are
relatively small.

♦Either with or without signed agreements of depositors.




(B-SS8)

Reproduced from the Unclassified I Declassified Holdings of the National Archives

DECLASSIFIED
Authority VJMDa o o z b

if

7,

V

DISTRICT NO.3 - PHILADELPHIA
BAMS CLOSED DURING 1932 UNDER A SPECIAL HOLIDAY DECLARED BY CIVIL AUTHORITIES

Name and location of bank




Date
"bank:
closed

Duration of holiday
Date 'bank 1
resumed |Number
From
To
operationsiof days

Reproduced from the Unclassified / Deciassif ed Holdings of the National Archives

DECLASSIFIED
Authority tiH D aoozfe

fe w

F e d e r a l R e s e r v e B a n k o f P h i l a d e l p h i a Jp ' / S
T
Ric h a r d

L .A

C h a ir m a n
and

hird

D

<

t

istrict

u stin

of th e

H ovem ber 4 ,

Bo a r d

1932

F e d e r a l Re s e r v e A g e n t

C»
FEDERAL RESERVE BOARD,
W a s h in g to n ,
D. C.
A tte n tio n

of

E. L .

S m ea d . j T

V

D ear S ir s

We a r e d u l y
a s k in g
in

fo r

th is

a sta te m e n t

are

o ffic ia lly

have b een .

th is

A ll our

of

your

or

t e le g r a m

has been

etc.

b a s is ,

cash le t t e r s
fo r

In

d is tr ic t,

o n a m o r a t o r iu m

h a n d le d and r e m it t e d

l\ f o r

now ,

m o r a t o r iu m b a s i s ,

th a t n o banks in

One b a n k -

r e c e ip t

s h o w in g nam e a n d l o c a t i o n

d i s t r i c t w h ic h i s

on s o - c a l l e d
a d v is e

in

to

r e g u la r ly

at

or oth er fa ile d

to

3d,

e a ch bank

a n y t im e

th is

yea r,

r e p l y we b e g l e a v e

d o we k n ow o f

out o f

to

any t h a t

tow n b a n k s a r e

t h e y a lw a y s h a v e b e e n .

t h e M a p le S h a d e N a t i o n a l B a n k , M a p le S h a d e ,

som e r e a s o n

th e

w i t h w h i c h we d o b u s i n e s s
or

as

of

of

1.

J.

-

o p e n o n e m o r n i n g , ^ th e n a t i o n a l
A

b a n k e x a m in e r s w e n t dow n a n d l o o k e d

it

ovey,

and s a id

t h e r e w as

QlO- t i l /)
I no reason fo r

c lo s in g ;

has b e e n c o n d u c tin g
As a m a t t e r o f
to ld

th a t

in

fo u r

b u s in e s s
g o s s ip

som e b a n k s i n

th e

days4 i t

or u n o ffic ia l
c o a l r e g io n s

lim it

t h e a m ou n t t h e y w i l l p a y t o

T

l

T

e n fo r c in g
to

^

e

&

any l i m i t

th em t h r o u g h t h i s




r

d

s in c e

as u s u a l.

to

o

o p e n e d u p a g a i n an d

.

_

on p a y m en ts i t

a

in fo r m a tio n ,

IR JU a !
we a r e

h a v e a s su m e d t h e

r ig h t

an y o n e d e p o s i t o r . HRte—h a v ei

^

i

does n ot

f

th e banks a re

a p p ly t o

ch ecks

sent

bank.

C h a irm a n