Spring Garden National Bank (original) (raw)
The Spring Garden National Bank was a Philadelphia, Pennsylvania, financial institution that became insolvent on May 7, 1891. On August 26, 1885, the Spring Garden National Bank experienced a bank run precipitated by rumors that it was nearly insolvent. However, the First National Bank paid all the checks drawn on it for presentation at a clearing house (finance).
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| dbo:abstract | The Spring Garden National Bank was a Philadelphia, Pennsylvania, financial institution that became insolvent on May 7, 1891. On August 26, 1885, the Spring Garden National Bank experienced a bank run precipitated by rumors that it was nearly insolvent. However, the First National Bank paid all the checks drawn on it for presentation at a clearing house (finance). In 1891, the bank became insolvent. The business was connected to the Keystone Bank which preceded it to failure. The bank's closing coincided with the closure of the Penn Trust andSafe Deposit Company, which was shut down by the national bank examiner, William P. Drew, on the orders of the Comptroller of the Currency. Spring Garden National Bank had 750,000capitalanda750,000 capital and a 750,000capitalanda127,500 surplus at the time of its demise, which occurred when it was unable to meet its debt at the clearing house. The following September, the bank president and his brother, F.W. Kennedy and H.H. Kennedy, were sentenced to ten-year prison terms for bank wrecking. (en) |
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| dbo:wikiPageLength | 1798 (xsd:nonNegativeInteger) |
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| dbo:wikiPageWikiLink | dbc:1891_disestablishments_in_Pennsylvania dbr:Philadelphia,_Pennsylvania dbc:History_of_Philadelphia dbr:Clearing_house_(finance) dbc:Companies_based_in_Philadelphia dbc:American_companies_disestablished_in_1891 dbr:First_National_Bank_(Philadelphia) dbr:Bank_run dbr:Failure dbr:Comptroller_of_the_Currency |
| dct:subject | dbc:1891_disestablishments_in_Pennsylvania dbc:History_of_Philadelphia dbc:Companies_based_in_Philadelphia dbc:American_companies_disestablished_in_1891 |
| gold:hypernym | dbr:Philadelphia |
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| rdfs:comment | The Spring Garden National Bank was a Philadelphia, Pennsylvania, financial institution that became insolvent on May 7, 1891. On August 26, 1885, the Spring Garden National Bank experienced a bank run precipitated by rumors that it was nearly insolvent. However, the First National Bank paid all the checks drawn on it for presentation at a clearing house (finance). (en) |
| rdfs:label | Spring Garden National Bank (en) |
| owl:sameAs | freebase:Spring Garden National Bank yago-res:Spring Garden National Bank wikidata:Spring Garden National Bank https://global.dbpedia.org/id/4vGSg |
| prov:wasDerivedFrom | wikipedia-en:Spring_Garden_National_Bank?oldid=960274642&ns=0 |
| foaf:isPrimaryTopicOf | wikipedia-en:Spring_Garden_National_Bank |
| is dbo:wikiPageWikiLink of | dbr:List_of_companies_of_the_United_States_by_state |
| is foaf:primaryTopic of | wikipedia-en:Spring_Garden_National_Bank |