1251001598 125100
national
88f4aa66cf3ff99bFull suspension, Books examined
Other: Taken into possession by the Comptroller/national bank examiner (receiver/conservator status).
PLEASANTVILLE Pleasantville, Feb. Pleasantville National Bank. youngest and smallest three institutions this community failed open its doors business today, and its affairs were placed in the hands the comptroller the currency. The bank, organized in 3500 depositors, resources of and deposits $325,571. according its last statement. The town the mainland about six miles from Atlantic City, where two large banks failed in the past week.
BANK IS CLOSED IN PLEASANTVILLE Excessive Withdrawals, Following Atlantic City Closings Are Blamed ATLANTIC CITY, Feb. National Bank failed notice on open its doors the printed on bank follows: bank closed read as of board of by orders national bank examiner has The taken charge." The statement Francis national signed by bank examiner. Officers bank follow: Bertram who clerk of Atlantic Raymond Ralph H. Sefton, cashier. The board directors Dr. Charles H. Rollan Wilson Cunningham, Dr. WoodGreen, Harry Charles Ingerburn William Hubert and Betram E. WhitThompson Excessive following Atlantic closing the reason for was given Mr. Whitman. The the closing bank opened October 1924.
JERSEY BANK CLOSES The Pleasantville National Bank at Pleasantville did not open its doors this morning. Excessive withdrawals following the closing of two Atlantic City banks was given as the reason for the closing.
Pl'ville (Continued from Page One) signed by Trancis McGinnis, nationbank At same time Mayor Charles E. Jackson declared that both of the other banks were in good cash position. only hope the people of Pleasantville not lose their heads. the Mayor declared. course, the closing of the Pleasantville National Bank surprise. There was no 'run' on the bank. The withdrawals must have been made through the regular channels business. Both of the other banks are in good cash position. At the First National Bank of Pleasantville, corner Washington avenue and Main street, reporter found as many persons making deposits as were drawing out money Many persons at the paying window were cashing their weekly pay checks are happy to say our total deposits have been but slightly affected during the past week, Charles S. Adams, President, said "While we had number of small the amount totalled in dollars, was no greater than the normal routine demand this season of the year upon our demand The First National, largest bank the city listed resources at last report At the Pleasantville Trust Company there often as little two or three customers in the bank one time This institution lists resources "You can see We having no trouble all," LeCompte, the cashier. said. "In fact, we are enjoying normal business. Several new accounts have been opened In addition to President Whitthe officers of the closed Pleasantville National Bank Raymond Thompson, and Ralph Sefton, Cashier. Statement of Dec. 31, 1932 The last statement of the bank issued December 31, 1932, listed the following resources: Loans and discounts, United States government securities, $143,853.25; other bonds, stocks and $88,860.50; banking house. $108,000; furniture fixtures. $20,000; real estate other than banking house $43,028.23; reserve with Federal Reserve Bank $18,cash and due from banks. $20,035.86; outside checks and other cash items, redemption fund with treasurer and due from treasurer, $4900; and other assets, Liabilities were listed as follows: Capital stock, $100,000; surplus $18,000; undivided net profits. circulating notes outstanding, due to banks, including certified and cashiers' outstanding $145.30: demand deposits, time deposits, United States government deposits $43.and bills payable and rediscounts.
Pl'ville (Continued from Page One) signed Trancis McGinnis nationbank examiner At the same time Mayor Charles that both of the other banks were in good cash only hope the people of Pleasantville do not lose their the Mayor declared. course, the closing of the Pleasantville National Bank surprise There no 'run' on the bank. The drawals must have been made through the regular channels business. Both of the other banks in good cash position. At the First National Bank Pleasantville, corner Washington avenue and Main street reporter found many persons making posits were drawing out money Many persons the paying window were cashing their weekly pay checks are happy to say our total deposits have been slightly fected during the past week.' Charles Adams, President, said "While we had number of small the amount totalled in dollars, was no greater than the normal this season of the year upon our demand The First National. largest bank the city. resources $1,in the last report At the Trust Company there often little or three customers the bank one time institution lists resources at $898,647.91 'You can having no trouble LeCompte the said. enjoying normal business Several new accounts been opened. In addition President Whitman, the officers of closed Pleasantville National Bank are Raymond Thompson, and Ralph H. Sefton, Cashier. Statement of Dec. 31, 1932 The last statement of the bank issued December 31, 1932, listed the following resources Loans and discounts, United States government securities, $143,853.25; other stocks and securities, banking furniture and tures. estate other than banking house, reserve with Federal Reserve Bank $18.cash and due from banks. outside checks and other cash items, redemption fund with treasurer and due from treasurer, $4900; and other Liabilities were listed as follows: 000; undivided net profits. circulating notes outstanding, $98.000: due to banks, including certiand cashiers' $145.30 demand deposits time deposits, United States government deposits $43.and bills payable and rediscounts.
JERSEY BANK CLOSES. Atlantic City, N. J., February Pleasantville National Bank at Pleasantville did not open its doors this morning. Excessive withdrawals following the closing of two Atlantic City banks was given as the reason for the closing.
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More Banks Close National banks suspending Feb. 2, 4, and 6 as reported to Comptroller of the Currency were: Feb. 2: First National Bank, of Secor, Ill., resources $219,044. Pleasantville National Bank of Pieasantville, N. J., resources, $630,000. Feb. 6: Citizens and Security National Bank of St. James, Minn. resources, $600,462.
Push Bank Plans Pleasantville Officials Provide Immediate Cash Depositors plan reorganization affecting the National Bank Pleashas been approved by the Comptroller of Currency the United States reorganization committee formed assist the completing the Bank officials say that the plan only pletion, immediate cash but the banking facilities the of the Banking Act which includes insurance deposits, no double liability new and extremely high percentage liquidity
Push Bank Plans Pleasantville Officials Provide mediate Cash Depositors plan reorganization affecting the Bank Pleasbeen approved the Comptroller Currency the United States. reorganization committee being formed assist the conservator completing the plan Bank officials that the plan not provide, upon pletion, immediate cash depositors, the community banking facilities advantages the Banking which includes an insurance of deposits, double personal liability extremely percentage liquidity.
Pleasantville's Trust Fund Contention Denied in Bank Liquidation Federal Judge John Boyd Avis in United States District Court here yesterday ruled against the contention of the city of Pleasantville that $2727.91 of school funds on deposit in the closed Pleasantville National Bank constituted a trust fund not subject to liquidation by the bank's receiver, Alonzo Tweedale. The money had been deposited in the bank by Marvin R. Martin, custodian of school funds, who on February 2, 1933, the day the bank closed, drew a check for the amount payable to the order of the First National Bank of Pleasantville, a solvent institution. The city sought a ruling to the effect that because of a private clearing arrangement between the two banks the deposit of the check with the First National Bank automatically set up the amount as a trust fund in the hands of the Pleasantville National. Judge Avis cited many decisions, including one by a court at Miami, Fla., on March 1, against the presumption of a trust fund in the circumstances.
Second Bank Dividend Receiver for Pleasantville National Announces Percent Distribution second dividend for closed Pleasantclared by Comptroller the Currency, announced yesterby Alonzo Tweedale, receiver The bank closed over year cent dividend declared months ago. will call for their checks, which are now ready.
Second Bank Dividend Receiver for Pleasantville National Announces Distribution second per for closed Pleasantville yesterday Tweedale, receiver the bank The bank closed year ago, and months that will call their checks, which ready.
Second Bank Dividend Receiver for Pleasantville National Announces Percent Distribution second dividend depositors closed has the the announced Alonzo Tweedale, The bank closed year and dividend months stated that their checks, which
JERSEY BANKS Can't You Just Hear the Wedding Bells? NEW LOANED $481,000 Hightstown Trust Company Among Those to Sell Stock to RFC By The Associated Press WASHINGTON, Sept. 24.-The Reconstruction Finance Corporation announced today that for the month of July, 1934, it authorized loans totaling $481,000 to banks and trust companies in New Jersey. The following loans were authorized, no part of which had been disbursed up to July 31: The First National Bank of Columbus, receiver, $20,000; The First National Bank of Pleasantville, conservator, $360,000; The Pleasantville National Bank receiver. $35,000; The First National Bank of Port Norris, receiver, $50,000. and the Westmont National Bank, receiver, $16,000. A loan of $22,500 also was authorized to the Manufacturers Loan Company of Jersey City, no part of which had been disbursed up to the end of the month The corporation during the month authorized subscriptions for preferred stock in 12 New Jersey institutions, none of which had been disbursed up to July 31 They follow: The Dover Trust Company $175,000; The Gloucester City Trust Company, $60,000 The Haddonfield National Bank, $200,000: Hights town Trust Company, $50,000; The First National Bank of Marlton. $15,000; The Penn's Grove National Bank and Trust Company, $50,000; Plainfield Trust Company, $750,000; Princeton Bank and Trust Company, $300,000; South Orange Trust Company, $75,000; The First National Bank of Springfield, $25,000; The Swedesboro National Bank, $50,000. and the Tenafly Trust Company, $100,000.
JERSEY BANKS TO GET R. C. FUNDS Tenafly Institution Among Those Receiving Federal Grants Associated ReconARE You struction Corporation announced that for the of July 1934. loans totaling banks and trusts companies New Jersey The following loans were author- Fully ized, part which had been bursed July The First National Bank Columbus, receiver $20,000 the First National Bank Protected? the Pleasantville National Bank. ceiver, $35,000 the First National Bank Port Norris, receiver $50,000 and the Westmont National Bank, reIF that fire should also was authorized the Loan occurCompany of Jersey City, no part of
2 Pl'ville Banks GetR.F.C.Loans Allot $360,000 to First National and $35,000 for Pleasantville National WASHINGTON Sept. 24 (AP).The Reconstruction Finance Corporation announced today that for the month of July, 1924, it authorized loans totaling banks and trusts companies in New Jersey The following loans were authorized, no part of which had been disbursed up to July 31: The First National Bank of Columbus, receiver, $20,000; The First National Bank of Pleasantville, conservator $360,000; the Pleasontville National Bank, receiver, $35,000; The First National Bank of Port Norris, receiver. $50,000, and the Westmont National Bank, receiver, $16,000. loan of $22,500 also was authorized to the Manufacturers' Loan Company, of Jersey City, no part of which had been disbursed up to the end of the month. The during the month authorized subscriptions for preferred stock in 12 New Jersey institutions, none of which had been disbursed up to July 31. They follow The Dover Trust Company $175,000; The Gloucester City Trust Company, $60,000; the Haddonfield National Bank, $200,000; Hightstown Trust Company, $50,000; The First National Bank of Marlton, $15,000; The Pennsgrove National Bank and Trust Company, $50,000; Plainfield Trust Company, $750,000; Princeton Bank and Trust Company, $300,000; South Orange Trust Company. $75,000; The First National Atlantic City Hotels
2 Pl'ville Banks Get R.F.C. Loans Allot $360,000 to First National and $35,000 for Pleasantville National WASHINGTON Sept. 24 (AP). — The Reconstruction Finance Corporation announced today that for the month of July, 1924, it authorized loans totaling $481,000 to banks and trusts companies in New Jersey. The following loans were authorized, no part of which had been disbursed up to July 31: The First National Bank of Columbus, receiver, $20,000; The First National Bank of Pleasantville, conservator, $360,000; the Pleasantville National Bank, receiver, $35,000; The First National Bank of Port Norris, receiver, $50,000, and the Westmont National Bank, receiver, $16,000. charged with aiding in the jail break of Timothy Large; Frank Patroni and James Totoro, breaking and entering, and George Johnson, assault and battery. * * * Auto Thieves Get Two Years Anthony Mantini, one of five defendants charged with grand larceny following a robbery at Buena Vista, where a factory was burglarized, was released on his own recognizance pending the apprehension of the others named as defendants. All the men reside in Camden. Leonard Wilson and Henry Trott, charged with the larceny of an automobile, the property of Harry Barstow, were given from two to four years in State's prison. Both men, intoxicated, were found sitting in Barstow's car, which was parked on the Brigantine boulevard. They disclaimed all knowledge of the larceny, declaring they had accepted a ride in the machine. Carroll and James Jackson brothers, likewise charged with the larceny of an automobile, the property of Neil Deighan, of West Collingswood, were sentenced to Rahway and Jamesburg, respectively. They were apprehended a mile from Deighan's car, which a garageman had watched them vacate on the White Horse pike. A suspended sentence of one to three years was given Frank Scholler, who had been charged with breaking and entering the residence of Mrs. Yolanda Ferrara, at 19 S. St. David's pl., and Mrs. Pauline Schaefer, at 105 S. Dover av. At the latter address the defendant stole jewelry valued at $85. He was ordered to report by letter to the office of the probation officers from a Philadelphia address. * * * Many Enter Pleas The following entered pleas of not guilty in quarter sessions: Edith I.