Clarke Brothers Bank
| 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. 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
- ↑ "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.