Clarke Brothers Bank
| Company type | Bank |
|---|---|
| Defunct | June 1929 |
| Fate | Bankruptcy |
| Headquarters |
Clarke Brothers Bank was a Manhattan, New York based financial institution located at 154 Nassau Street that failed in June 1929.[citation needed] Park Row Trust Company, which opened in March 1930, was located on the same site as Clarke Brothers Bank.[1] Four members of the bankrupt private bank were indicted for mail fraud in connection with the failure of the business. The bank's insolvency was initially figured at $5,000,000.[2]
Directors of Irving Trust Company, which was appointed receiver when the bank passed into receivership, estimated the loss as $3,811,364. This was $1,200,000 less than the original figure.[3]
References
[edit]- ^ "DIRECTORS ARE NAMED FOR PARK ROW TRUST; New Bank Will Open Soon at Location Formerly Used by Clarke Brothers". The New York Times. 1930-04-02. ISSN 0362-4331. Retrieved 2020-04-22.
- ^ Plead Not Guilty In Clarke Case, The Wall Street Journal, July 17, 1929, pg. 2.
- ^ Clarke Brothers Private Bank, The Wall Street Journal, August 10, 1929, pg. 7.
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