PENNSYLVANIA 1929, Aldine Trust Company Stock Certificate, Philadelphia

Description

The certificate is dated
November 18
, 1929. The company was incorporated in Pennsylvania in 1906. The corporate seal features the logo of an anchor and fish.
The Aldine Trust Company was absorbed by the state on
December 28, 1930
due to heavy deposit withdrawals in the week following the dissolution of Bankers Trust. The bank's President, A. M. Matthews, assured the public that all depositors would be repaid in full, and publically stated that the bank was closing due to longstanding difficulties that arose under a previous administration. However, he notably offered a ,000 reward to anyone who would come forward with information pertaining to "rumor mongers" in the city who, during the previous week, seemed to have convinced depositors that the Trust was unstable.
In its lifespan, the Aldine Trust Company had absorbed Lancaster Avenue Title and Trust Company and the Manufacturers Title and Trust Company. It moved into a grand, twenty-story façade at 2020 Chestnut Street in
December 1929
, a year before it shut its doors. The site was at the time known as "The Mother of Trust Companies."
.
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