Woodlynne National Bank (Wood-Lynne, NJ)

Episode Information

Episode UID
55062671576
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
5506267 routing
Routing Number
55-0626
Start Date
April 10, 1931
Location
Wood-Lynne, New Jersey (39.917, -75.096)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d87131f56f6214e8

Response Measures

None

Description

Bank closed by national bank examiners and placed in receivership; later small RFC loan authorized to the receiver.

Events (4)
1. April 10, 1931 Receivership
Newspaper Excerpt
was closed April 10 by order of the national bank examiners...sent to New Jersey to take over the receiverships of the Westmont National Bank and the Woodlynne National Bank.
Source
newspapers
2. April 10, 1931 Suspension
Cause
Government Action
Cause Details
Closed April 10 by order of national bank examiners (federal action appointing conservator/receiver).
Newspaper Excerpt
Woodlynne National Bank, which was closed April 10 by order of the national bank examiners.
Source
newspapers
3. October 30, 1931 Other
Newspaper Excerpt
Checks for 25 percent of their deposits have been mailed to all depositors of the Woodlynne National Bank. which was closed April 10 by order of the national bank examiners. That payment will constitute first dividend to depositors ... checks will be mailed today ... the bank's 700 depositors will receive ... Monday.
Source
newspapers
4. December 1, 1933* Other
Newspaper Excerpt
Woodlynne National Bank (receiver), $4,000. (RFC authorized loan to Woodlynne National Bank (receiver) in December 1933).
Source
newspapers

Newspaper Articles (5)
1. October 30, 1931 Evening Courier Camden, NJ

Article Text

WOODLYNNE NATIONAL MAILS CHECKS FOR 25 PERCENT OF DEPOSITS Payment of $52,939 Dividend to 700 Patrons Ordered by Will be Turned Over as Assets Are Liquidated Checks for percent of their be mailed today and posits morrow all depositors of the Woodlynne National Bank. which was closed April 10 by order of the tional bank examiners. That payment will constitute first dividend to depositors, and officials the bank will continue collect institution's assets further payments. That was revealed today by forState Senator Albert Woodfor the bank's He stated that the treasury Washington had ordered the dividend, and the were today in the The to Woodruff for distribuTotal first represented the checks will be which the bank's 700 depositors will receive Monday. The bank when $35)000 by the bank examiners cover depreciation assets that amount. sent and found that there insufficient obligations immediately Under the federal banking when national bank unable meet its obligations, the stockholders are on each share will deficiency and protect the depositors. Pole, comptroller the curof the United ordered $100 share levied the stockholders and appointed Woodruff : counsel the director assist the collection that levy. were by stockholdToday the order for the initial the was ordered.

2. October 31, 1931 The Daily Journal Vineland, NJ

Article Text

25 PERCENT DIVIDEND AT WOODLYNNE BANK Checks for 25 percent of their posits have been mailed to all positors of the Woodlynne NationBank, which was closed April 10 by order of the national bank That will constitute payment first dividend cials of the bank will continue collect the institution's assets make further payments. That was revealed yesterday former State Senator Albert Woodruff.

3. March 12, 1934 The Times Trenton, NJ

Article Text

Loans Authorized For Jersey Banks RFC Report to Congress Says 14 Sanctioned In December WASHINGTON, March 12 (P).-The Reconstruction Finance Corporation, in its monthly report to Congress, made public the fact that 14 loans to New Jersey banks and trust companies had been authorized during December, 1933, the largest being $457,000 to the conservator of the Carlstadt National Bank. Other loans authorized included: Collingswood National Bank (conservator), $65,000; First National Bank of East Rutherford, $95,000; Elizabeth Trust Company, $245,000: Cliffside Park Title Guarantee Trust Company, $18,000; First National Bank (conservator), of Lyndhurst, $400,000; Margate Trust Company of Margate City, $75,000; Mount Ephraim National Bank (receiver), $50,000; New Brunswick Trust Company, $50,000; Hamilton Trust Company of Paterson, $25,000; Merchants Trust Company of Paterson, $20,000; Security Trust Company of Paterson, $7,500; First National Bank of Sea Isle City (receiver) $19,000; Woodlynne National Bank (receiver), $4,000. Exception for loans to the CliffPark Title Guarantee & Trust Company the Margate Trust Company, the Merchants Trust Company of Paterson. the Security Trust Company of Paterson, and the First National Bank of Sea Isle City, no part of the had been disbursed up to and including December 31.

4. March 12, 1934 Asbury Park Press Asbury Park, NJ

Article Text

14 JERSEY BANKS RECEIVE RFC AID Largest, of $457,000, Goes to Carlstadt Conservator. Two Canceled. WASHINGTON March 12. (AP)-The Finance in its monthly to congress, made public the fact that 14 loans to banks and trust had been authorized during December, 1933, the largest being to the conservator of the Carlstadt National bank Other authorized included: the National bank (conservator), $65,000 First National bank of East Rutherford, Elizabeth Trust company, Cliffside Park Title and Trust company, $18,000 First National bank (conservator), Lyndhurst, $400,000; Margate Trust company, Margate City, $75,000; the Mount Ephraim National bank (receiver), $50,000; New Brunswick Trust company, $50,000; the Hamilton Trust company of Paterson, $25,000; the Merchants Trust company of Paterson, $20.000; the Security Trust company, Paterson, $7,500 the First National bank of Sea Isle City (receiver) $19,000, and the Woodlynne National bank (receiver) With the execption of loans to the Cliffside Park Title Guarantee Trust company the Margate Trust company Merchants Trust company of Paterson: the Security Trust company Paterson, and the First Na. tional bank of Sea Isle City, no part of the amounts authorized been disbursed up and including December 31. 1933 Among the instiutions from which the RFC had agreed to purchase preferred stock the following in New Jersey, Fairlawn Radburn Trust company, Garfield Trust company, $200,000 the Hackensack Trust company, $300,000; Harrison Na. tional bank of Harrison. New Jersey, $112,500; Columbia Trust company Hoboken, $50,000; Chancellor Trust County National bank, Jersey City $1,500,000; Clinton Trust company, Newark, $250,000, and Citizens Trust company, Summit, $60,000. Under the statement of loans authorized during the period from July 21, 1932, to 30, inclusive, which were withdrawn or cancelled in part during December were the following in New Jersey and the withdrawn or cancelled Peoples bank of Hawthorne, and the New Jersey National Bank and Trust company of Newark (receiver), $250,500.00

5. August 2, 1934 The Washington Times Washington, DC
Article from The Washington Times, August 2, 1934

Click image to open full size in new tab

Article Text

JEAN T. DINGER EXPERIENCED RECEIVER Jean T. Dinger. receiver for the International Exchange Bank, is 39 years old and was born in Wheeling, W. Va. He has been connected with the Treasury Department since 1930, the year he applied for a job in the insolvent national banks division, which comes under the jurisdiction of the Comptroller of the Currency. He was accepted almost immediately. Once D. J. Agent His bank background was received in the Department of Justice, where he was an agent from 1924 to 1930 in the division of investigation. In this capacity he examined books, mail frauds and bankruptcies. He has not cast a vote for either of the political machines, or for any other office seeker, since 1924. He denies any political affiliation and never participated in any political campaign. After attending high school for two years in his home town, Mr. Dinger came to Washington where he completed his preliminary education. He then took a course in accounting in Southeastern University here, graduating in 1922. Sent to New Jersey In 1931 he was sent to New Jersey to take over the receiverships of the Westmont National Bank and the Woodlynne National Bank. Treasury officials say he did a good piece of work in the two banks. In 1932 he was called to Washington to take over the International Exchange Bank which failed with deposits aggregating $452,850. The bank has since paid off about $132,096.