First National Bank (High Bridge, NJ)

Episode Information

Episode UID
533301587
Episode Type
Suspension โ†’ Reopening
Bank Type
national
Bank ID
53330 national
Charter Number
5333
Start Date
March 28, 1932
Location
High Bridge, New Jersey (40.667, -74.896)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e28ed6e44b7c46c2

Response Measures

None

Receivership Details

Date receivership started
1932-03-30
Date receivership terminated
1932-12-12
Share of assets assessed as good
11.8%
Share of assets assessed as doubtful
82.9%
Share of assets assessed as worthless
5.3%

Description

Closure followed the death of the bank's chairman, prompting directors to suspend and a receiver to be appointed; later reopened.

Events (7)

1. May 5, 1900 Chartered
Source
historical_nic
2. March 28, 1932 Receivership
Newspaper Excerpt
statement on the door of the High Bridge National Bank, signed by J. D. Colyer, receiver, gave out the following information to depositors Saturday. Statement of condition...as of the date of its suspension March 28, 1932.
Source
newspapers
3. March 28, 1932 Suspension
Cause Details
Directors closed the bank after the death of Percival Chrystie and fearing a depositor run; receiver later appointed.
Newspaper Excerpt
Statement of condition of the First National Bank of High Bridge, as of the date of its suspension March 28, 1932.
Source
newspapers
4. March 30, 1932 Receivership
Source
historical_nic
5. December 12, 1932 Reopening
Newspaper Excerpt
The First National Bank opened yesterday at 2:30 p. m. after being closed since March 29. The bank has been in the hands of the receiver, J. D. Collyer...
Source
newspapers
6. December 12, 1932 Restored To Solvency
Source
historical_nic
7. October 28, 1947 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (4)

Article Text

Family Is Not Content With Suicide Theory County and State Police Say Percival Chrystie Shot Himself Although officials, who have intragic chairman the board the Steel company, former president found dead gunshot Monday noon, that findings that associates claim this their belief they convinced that his death was accidental. Following closely on the death of the the First Bank High Bridge, its tinued operate during mainder the banking Monday afternoon, after the closing hours, directors the institution evening posted. One reads: bank under the direction the the charge Stewart, national bank examiner. Closed by resolution the board directors. signed Stewart, national other notice reads: be sition confer with any bank's customers after April 12th" and is also signed by Mr. Stewofficial statement would charge the closed bank. Bridge that the directors feared Mr. Chystie's death might cause on the of depositors might run and because this they action, closing matter and the indepositors. Following finding of Mr. Chrystie's body by employes the Coroner notified State from Flemington were During the Brokaw would not whether he would pronounce the death to accident later in the day, said his opinion was Flemington morning agreed with decision the family has differtheory. said husband gone out to shoot sparrows, which been regularly taking which other had been discharged hammers. had parently weeds and it belief Mrs. Chrystie and others wandering through brush. fell charing the load which killed Chrystie. the was found hammer down and the other still position be fired and the barrel was loaded. order conflicting claims, asked for oner's held High Bridge o'clock Tuesday afterChrystie born at High Bridge at death. late Taylor. the founder the Iron and company, which in operation since and which has made this country has After the his cation, started the ranks the plant of the Works, of the Tayand Steel company. His the then the the dustry position vice which capacity served 1923 Then succeeded nis the late Knox Taylor Iron and Steel


Article Text

Bank Receiver Reports Its Financial Standing A statement on the door of the High Bridge National Bank, signed by J. D. Colyer, receiver, gave out the following information to depositors Saturday. "Statement of condition of the First National Bank of High Bridge, as of the date of its suspension March 28, 1932." Assets: Bills receivable $230,259.88; cash on hand, $22,712.55; assets other than bills receivable and cash on hand, $617,478.97. Liabilities: Liabilities unsecured, $676,066.97; bills payable by pledge of the bank aggregating $219,600 as collateral, $99,500.00. Total $775,566.97. The closing of the bank, which followed the death of Percival Chrystie of High Bridge, by gunshot wound, has affected the town and surrounding communities greatly and little information as to its possibility of reopening has been indicated.


Article Text

Bank Receiver Reports Its Financial Standing A statement on the door of the High Bridge National Bank, signed by J. D. Colyer, receiver, gave out the following information to depositors Saturday. "Statement of condition of the First National Bank of High Bridge, as of the date of its suspension March 28, 1932." Assets: Bills receivable $230,259.88; cash on hand, $22,712.55; assets other than bills receivable and cash on hand, $617,478.97. Liabilities: Liabilities unsecured, $676,066.97; bills payable by pledge of the bank aggregating $219,600 as collateral, $99,500.00. Total $775,566.97. The closing of the bank, which followed the death of Percival Chrystie of High Bridge, by gunshot wound, has affected the town and surrounding communities greatly and little information as to its possibility of reopening has been indicated.


Article Text

High Bridge Mrs. Jennie Seal, Correspondent. First National Reopens; Deposits Total $18,987.98 The First National Bank opened yesterday at 2:30 p. m. after being closed since March 29. The bank has been in the hands of the receiver, J. D. Collyer of Larchmont, N. Y. The reopening was made possible by the work of a depositors' committee, headed by George W. Hanks of Clinton, president of Taylor-Wharton Company, and by the co-operation of the community in general.