1522. Bridgeport Trust Company (Bridgeport, CT)

Bank Information

Episode Type
Run Only
Bank Type
trust company
Start Date
March 29, 1915
Location
Bridgeport, Connecticut (41.167, -73.205)

Metadata

Model
gpt-5-mini
Short Digest
27b7528a

Response Measures

None

Description

Articles document foreclosure litigation in March 1915 (trust acted as receiver of rents for property) and, separately, in Nov 1915 ethnic/political-motivated deposit withdrawals from Bridgeport Trust Company because it participated in the Anglo-French war loan. Withdrawals are described but no suspension or closure is mentioned, so classify as a run_only episode. No evidence of misinformation triggering the withdrawals—the cause was the bank's participation in foreign war loans.

Events (2)
1. March 29, 1915 Other
Newspaper Excerpt
The Trust ... was appointed receiver of rents and Turner wanted the court to order his interest paid out of the amount collected from rents.
Source
newspapers
2. November 13, 1915 Run
Cause
Bank Specific Adverse Info
Cause Details
Depositors withdrew because the bank participated in the Anglo-French war loan; ethnic/political groups pulled funds to buy foreign war bonds.
Newspaper Excerpt
Certain Hungarian and German depositors have withdrawn their deposits from the First-Bridgeport National Bank, the Connecticut National Bank and the Bridgeport Trust Company because they have been advised that these banks have used the depositors' money to participate in the $500,000,000 AngloFrench war loan.
Source
newspapers

Newspaper Articles (2)
1. March 29, 1915 The Bridgeport Evening Farmer Bridgeport, CT
Article from The Bridgeport Evening Farmer, March 29, 1915

Click image to open full size in new tab

Article Text

James A. Turner's Petition Withdrawn The petition of James A. Turner of this city, a bondholder in the National Realty Corporation of this city, to have the interest paid on coupons that have matured, was withdrawn after a short hearing before Judge Webb in the superior court this morning. The petion was brought as a result of the suit brought against, the National Realty corporation by the Bridgeport Trust Co. The latter concern asked to be allowed to foreclose on property at State street and Bassick avenue which had been given as security for 115 bonds valued at $32,000. It was claimed interest on the bond hadn't been paid. The Trust 100. was appointed receiver of rents and Turner wanted the court to order his interest paid out of the amount collected from rents.

2. November 13, 1915 The Bridgeport Evening Farmer Bridgeport, CT
Article from The Bridgeport Evening Farmer, November 13, 1915

Click image to open full size in new tab

Article Text

PRO-GERMANS FIGHT BANKERS Certain Hungarian and German depositors have withdrawn their deposits from the First-Bridgeport National Bank, the Connecticut National Bank and the Bridgeport Trust Company because they have been advised that these banks have used the depositors' money to participate in the $500,000,000 AngloFrench war loan. Although these three banks are the heaviest losers, other banks are also said to be affected while banks that did not participate in the loan are gaining new depositors from the Hungarians and Germans in Bridgeport. The depositors who have already withdrawn their funds are canvassing in the West End among other depositors inducing them to withdraw their deposits also. BIG SOCIETIES ACT The two largest Hungarian sick benefit societies, having a membership of more than 16,000, have already withdrawn more than $20.000 of their funds. A movement is on foot among the Hungarians of the West End to buy in on the Hungarian war loan bonds, just placed on the market through the Trans-Atlantic Trust Company of New York, while well-to-do Germans in Bridgeport are participating in the last German war loan. Persons of Hungarian and German nationality have already bought these foreign securities, the interest on which is more than six per cent. while the war bonds of the Allies bear only about five and one-half per cent. interest.