Great Depression struck four corners of triangle-shaped York County
This photograph shows the Codorus Creek near Richland Avenue before Depression-era flood-control efforts changed its appearance. (Courtesy of York County Heritage Trust.) Background posts: Destructive flood of 1933 struck York County 75 years ago, It couldn’t happen in York County? Women were trampled in Depression-era labor unrest and Bad economy turned York Safe and Lock toward lucrative defense work .
In a previous post Great Depression not only pinched in York County, it punched, I take a poke at the notion that the county somehow escaped the very tough times of the 1930s.
That assertion has come down over the years because no bank in York failed during the Depression.
No banks apparently failed in the city.
But using Charles Bloomfield’s Millersville University master’s research, I point out that 17 of York County’s 46 banks either failed or reorganized.
This discussion caused Warren Miller of Hanover to inquire about which banks did, indeed, fail… .
Bloomfield’s list appears below.
But first, one thing that struck me about the list was how the banking issues reached into the four corners of triangle-shaped York County. In short, people throughout York County lost money, although Bloomfield shows that in some cases investors were paid back at 60 cents on the dollar. (His master’s thesis is available for inspection, but not check out, at the York County Heritage Trust Archives, 250 E. Market St., York.)
Anyway, here’s Bloomfield’s list:
Failures
1. North York State Bank (York Trust Company acquired assets).
2. Shrewsbury Savings Institution.
3. Farmers and Merchants Bank of Dillsburg.
4. First National Bank of Delta (absorbed by Peoples’ National Bank of Delta. Ordered by bank examiners).
5. Peoples National Bank of Delta (merger proved fatal).
6. Farmers State Bank of Hellam.
7. First National Bank of Goldsboro.
8. Seven Valleys National Bank.
Reorganization
1. First National Bank of Dallastown and Union State Bank consolidated with the First National Bank and Trust Company of Dallastown.
2. First National Bank of Spring Grove was consolidated with the Peoples’ National Bank of Spring Grove, became Spring Grove National Bank.
3. Spring Grove National Bank reorganized.
4. First National Bank of Spring Grove.
5. First National Bank of New Freedom.
6. Union National Bank of Mount Wolf.
7. Codorus National Bank of Jefferson.
8. Trust Company of Glen Rock reorganized as the Peoples’ Bank of Glen Rock in 1934.
9. Dover National Bank.
