New York Trust Company (New York, NY)

Episode Information

Episode UID
3475137691265
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
347513769 hash
Start Date
May 23, 1905
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
8d50cb25744b7055

Response Measures

None

Description

State examiner took charge and receivers were appointed by court on May 23, 1905.

Events (3)
1. May 23, 1905 Receivership
Newspaper Excerpt
Attorney General Mayer went before Supreme Court Justice Cochrane today and made application for the appointment of receivers for the New York Trust company. Douglass Robinson was appointed.
Source
newspapers
2. May 23, 1905 Suspension
Cause
Government Action
Cause Details
State bank examiner took charge and court application led to appointment of receivers for New York Trust Company.
Newspaper Excerpt
State Bank Examiner Judson took charge of the Merchants' Trust company at 10 o'clock this morning. Attorney General Mayer went before Supreme Court Justice Cochrane today and made application for the appointment of receivers for the New York Trust company. Douglass Robinson was appointed.
Source
newspapers
3. July 20, 1905 Other
Newspaper Excerpt
Of the four new directors elected yesterday, Mr. Robinson is one of the receivers of the Merchants' Trust Company, and Messrs. Bannard and King are respectively president and vice-president of the New-York Trust Company, the other receiver. At the meeting of the directors to-day It is probable that the old officers will be re-elected.
Source
newspapers

Newspaper Articles (2)
1. May 23, 1905 The Spokane Press Spokane, WA
Article from The Spokane Press, May 23, 1905

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Article Text

BANK EXAMINER TAKES CHARGE OF TRUST COMPANY (Scripps News Association.) called for June 1 to vote upon a proposed increase in the capital from NEW YORK, May 23.-State Bank $500.000 to $1,000,000. This announceExaminer Judson took charge of the ment caused the closing of the doors Merchants' Trust company at 10 today. o'clock this morning. ALBANY, N. Y., May 23.-AttorSamuel Undermeyer, counsel for ney General Mayer went before Suthe trust company, stated this mornpreme Court Justice Cochrane today ing the trouble would probably be and made application for the appointment of receivers for the New York only temporary. The company would be able to pull through. Trust company. Douglass Robinson was appointed. Robinson is a The main office of the company is brother-in-law of Roosevelt. at 346 Broadway. According to its last statement the assets were $4,Jacob L. Phillips, president of the 034,437, Habilities $2,959,888. The Merchants' Trust company, said this afternoon the concern held bonds to concern has been subject to rumors in Wall street for some time. It is the extent of $2,000,000 of the Hudreported the bank made some bad inson Valley Railway company, a large vestments. This morning the stateblock of Rutland & Vermont railway ment was published that a special and gas securities on which it had not realized. meeting of stockholders had been

2. July 20, 1905 New-York Tribune New York, NY
Article from New-York Tribune, July 20, 1905

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Article Text

Of the four new directors elected yesterday, Mr. Robinson is one of the receivers of the Merchants' Trust Company, and Messrs. Bannard and King are respectively president and vice-president of the New-York Trust Company, the other receiver. Dr. Munn, goes into the board as a representative of the interests of the Merchants' Trust Company, of which he is a. director. At the meeting of the directors to-day It is probable that the old officers will be re-elected.' Either at that or a. subsequent meeting two additional directors, representing the receivers' interests will be elected.