North American Bank & Trust Company (Wilmington, DE)

Episode Information

Episode UID
6058513591348
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
605851359 hash
Start Date
April 27, 1912
Location
Wilmington, Delaware (39.746, -75.547)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
14386e50b618a365

Response Measures

None

Description

No run reported; closed by state Insurance Commissioner and placed in receivership.

Events (2)
1. April 27, 1912 Suspension
Cause
Government Action
Cause Details
State Insurance Commissioner Charles H. Maull took charge and closed the bank citing unsound condition and alleged investments.
Newspaper Excerpt
Insurance Commissioner Maull has charge of the bank which is closed.
Source
newspapers
2. August 1, 1912 Receivership
Newspaper Excerpt
L. Scott Townsend, receiver of the North American Bank and Trust Company, has filed in the office of the Register in Chancery ... a list of the depositors of said company, with the amount due each of them as shown by the books of said company, ... Wilmington, Delaware, August 1, 1912.
Source
newspapers

Newspaper Articles (10)
1. April 27, 1912 Evening Journal Wilmington, DE
Article from Evening Journal, April 27, 1912

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Article Text

Very truly yours, Chas. H. Maull, Signed Insurance Commissioner of the State of Delaware. Mr. Gray said today he would have applied today to Chancellor Curtis for the appointment of a receiver for the bank but Chancellor Curtis was not in court. The application will be presented early next week and in the meantime Insurance Commission er Maull has charge of the bank which is closed.. The North American Bank and Trust Company of Wilmington began business on the charter of the New Castle Development Trust Company and then had the charter amended by changing its name to the present title. There are about 105 shares of the 1500 shares of stock held by Wilmington people. The first president of the bank was Clawson Bachman who served from December 1, 1908 to November 3, 1909. From November 3, 1909 to October 18, 1910 James C. O'Neil was president and he was succeded by Dr. J. M. Tyson, who filled the office until January 17, 1911. James C. Brennan succeeded him up to November 11 last when the Rev. L. O. Knipp the present president assumed the office.

2. May 3, 1912 Evening Journal Wilmington, DE
Article from Evening Journal, May 3, 1912

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Article Text

SEES NEED OF RECEIVER FOR N. A. BANK In the Court of Chancery yesterday afternoon the affidavit of Peter T. Wright, accountant, was filed in the case of the North American Bank and Trust Company. In his report Mr. Wright reports that he acted at the request of Insurance Commissioner Charles H. Maull in his examination of the books of the company and had found liabilities in excess of the assets, the general affiairs of the company in what he regarded as an unsound condition and recommended the appointment of a receiver for the company. Mr. Wright reviews at some length the manner in which its business was conducted.

3. May 3, 1912 Milford Chronicle Milford, DE
Article from Milford Chronicle, May 3, 1912

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Article Text

INSURANCE COMMISSIONER CLOSES BANK Insurance Commissioner Chas. H. Maull Took Charge of the North American Bank & Trust Company, at Wilmington, on Saturday. Charles H. Maull, State Insurance Commissioner, has taken charge of the North American Bank & Trust Company, with offices in the Ford Building, at Wilmington, on the ground that he considers it unsound because of alleged investments. The doors were closed on Saturday. At the request of Mr. Maull, AttorneyGeneral Andrew C. Gray expects to ask the Court of Chancery, this week, to appoint a receiver. The company has about $30,600 in deposits, and, according to Mr. Gray, it is expected that all the depositors will be paid in full. What will be the portion of the stockholders he cannot predict. Most of the stock is said to be held by non-residents. Some time ago the Attorney General asked the commissioner to make an examination of the affairs of the institution. The company operated under the charter of the New Castle Development Trust Company, which was later amended and the name changed. The authorized capital stock is $200,000. About 1500 shares of stock are outstanding, of which 300 are held in Wilmington. The Rev. L. O. Knippe, of Philadelphia, is the president. The secretary and treasurer is James E. Green, formerly of Philadelphia.

4. May 10, 1912 Evening Journal Wilmington, DE
Article from Evening Journal, May 10, 1912

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Article Text

DARKER ANI BANKER AS RECEIVER FOR N. A. BANK The case of The North American Bank and Trust Company came up before Chancellor Curtis today upon petition for a receiver. Attorney General Andrew C. Gray, representing Insurance Commissioner Charles H. Maull, and John McClintock, Jr., appeared before the Chancellor. Mr. McClintock represented the Bank and Trust Company had no objections to the appointment of a receiver and on behalf of the stockholders of the company suggested the name of Edwin R. Cochran, Jr. Chancel'or Curtis did not appoint Mr. Cochran, however, but offered the receivership to a bank official of this city. He will give the Chancellor an answer when he arrives home from Philadelphia this afternoon.

5. August 28, 1912 Evening Journal Wilmington, DE
Article from Evening Journal, August 28, 1912

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Article Text

REGISTER'S NOTICE N CHANCERY, NEW CASTLE COUNTY. I To the depositors and creditors of the North American Bank and Trust Company. Notice is hereby given that L. Scott Townsend, receiver of the North American Bank and Trust Company, has filed in the office of the Register in Chancery at Wilmington, a list of the depositors of said company, with the amount due each of them as shown by the books of said company, that the same may be examined by any party having any interest therein; or by any person having any claim against said company; that exceptions to said list of depositors and the amount due each of them may be taken by any party having any interest therein or claim as aforesaid, on or before the first day of October, A. D. 1912; that any person having in his or her possession one of the Savings Banks or Boxes loaned to him or her by said The North American Bank and Trust Company may return the same to L. Scott Townsend, Receiver, on or before the sixteenth day of September, A D. 1912; and that the persons who have said Savings Banks or Boxes, and who return the same shall be allowed their claims as set forth in the list of depositors filed with the Register in Chancery, and the claims of those de. positors who do not return said Savings Banks or Boxes shall be reduced by the sum of one dollar, as provided in the agreement signed by the depositor. JOSEPH C. JOLLS, Register in Chancery. Wilmington, Delaware, August 1, 1912. a?8-w.s-to Oct. 1.

6. September 4, 1912 Evening Journal Wilmington, DE
Article from Evening Journal, September 4, 1912

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Article Text

REGISTER'S NOTICE. N CHANCERY, NEW CASTLE COUNTY. I To the depositors and creditors of the North American Bank and Trust Company. Notice is hereby given that L. Scott Townsend, receiver of the North American Bank and Trust Company, has filed in the office of the Register in Chancery at Wilmington, a list of the depositors of said company, with the amount due each of them as shown by the books of said company, that the same may be examined by any party having any interest therein; or by any person having any claim against said com. pany; that exceptions to said list of de. positors and the amount due each of them may be taken by any party having any interest therein or claim as aforesaid, on or before the first day of October, A. D. 1912; that any person having in his or her possession one of the Savings Banks or Boxes loaned to him or her by said The North American Bank and Trust Company may return the same to L. Scott Townsend, Re. ceiver, on or before the sixteenth day of September, A. D. 1912: and that the persons who have said Savings Banks or Boxes, and who return the same shall be allowed their claims as set forth in the list of depositors filed with the Register in Chancery, and the claims of those depositors who do not return said Sar. ings Banks or Boxes shall be reduced by the sum of one dollar, as provided in the agreement signed by the depositor. JOSEPH C. JOLLS, Register in Chancery. Wilmington, Delaware, August 1, 1912. a28-w,s-to Oct. 1.

7. September 7, 1912 Evening Journal Wilmington, DE
Article from Evening Journal, September 7, 1912

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Article Text

REGISTER'S NOTICE. N CHANCERY, NEW CASTLE COUNTY. I To the depositors and creditors of the North American Bank and Trust Company. Notice is hereby given that L. Scott Townsend, receiver of the North American Bank and Trust Company, has filed in the office of the Register in Chancery at WIImington, a list of the depositors of said company. with the amount due each of them as shown by the Books of said company: that the samie may be examined by any party having any interest therein: or by any person having any claim against said company; that exceptions to said list of depositors and the amount due each of them may be taken by any party having any interest therein or claim As aforesaid, on OR before the first day of October, A. D. 19124 that any person having in his or her pos. session one of the Savings Banks or Boxes loaned to him or her by said The North American Bank and Trust Company may return the same to L. Scott Townsend, Re. ceiver. on or before the sixteenth day of September, A. D. 1912: and that the persons who have said Savings Banks or Boxes, and who return the same shall be allowed their claims as set forth in the list of dg. positors filed with the Register in Chicucery, and the claims of those depositors who do not return said Sav ings Banks or Boxes shall be reduced by the sum of one dollar, as provided in the agreement signed by the depositor. JOSEPH C. JOLLS, Register in Chancery. Wilmington, Delaware, August 1, 1912. a28-w,a-to Oct. 1.

8. September 11, 1912 Evening Journal Wilmington, DE
Article from Evening Journal, September 11, 1912

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Article Text

REGISTER'S NOTICE N CHANCERY, NEW CASTLE COUNTY, I To the depositors and creditors of the North American Bank and Trust Company. Notice is hereby given that L. Scott Townsend, receiver of the North American Bank and Trust Company, has filed in the office of the Register in Chancery at Wilmington, a list of the depositors of said company, with the amount due each of them as shown by the books of said company, that the same may be examined by any party having any interest therein: or by any person having any claim against said com pany; that exceptions to said list of de positors and the amount due each of them may be taken by any party having any interest therein or claim as aforesaid, on or before the first day of October, A. D. 1912; that any person having in his or her possession one of the Savings Banks or Boxes loaned to him or her by said The North American Bank and Trust Company may return the same to L. Scott Townsend, Re. ceiver, on or before the sixteenth day of September, A D. 1912: and that the persons who have said Savings Banks or Boxes, and who return the same shall be allowed their claims as set forth in the list of depositors filed with the Register in Chan. cery, and the claims of those depositors who do not return said Say. ings Banks or Boxes shall be reduced by the sum of one dollar, 88 provided in the agreement signed by the depositor. JOSEPH C. JOLLS, Register in Chancery. Wilmington, Delaware, August 1, 1912. a28-w.s.to Oct. 1.

9. September 25, 1912 Evening Journal Wilmington, DE
Article from Evening Journal, September 25, 1912

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Article Text

REGISTER'S NOTICE N CHANCERY, NEW CASTLE COUNTY. I To the depositors and creditors of the North American Bank and Trust Company. Notice is hereby given that L. Scott Townsend, receiver of the North American Bank and Trust Company, has filed in the office of the Register in Chancery at Willmington, a list of the depositors of said company, with the amount due each of them as shown by the books of said company, that the same may be examined by any party having any interest therein; or by any person having any claim against said com. pany; that exceptions to said list of depositors and the amount due each of them may be taken by any party having any interest therein or claim as aforesaid, on or before the first day of October, A. D. 1912; that any person having in his or her possession one of the Savings Banks or Boxes loaned to him or her by said The North American Bank and Trust Company may return the same to L. Scott Townsend, Receiver, on or before the sixteenth day of September, A. D. 1912: and that the per. sons who have said Savings Banks or Boxes, and who return the same shall be allowed their claims as set forth in the list of depositors filed with the Register in Chancery, and the claims of those depositors who do not return said Sarings Banks or Boxes shall be reduced by the sum of one dollar, as provided in the agreement signed by the depositor. JOSEPH C. JOLLS, Register in Chancery. Wilmington, Delaware, August 1, 1912. a28-w,s-to Oct. 1.

10. September 28, 1912 Evening Journal Wilmington, DE
Article from Evening Journal, September 28, 1912

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Article Text

REGISTER'S NOTICE N CHANCERY, NEW CASTLE COUNTY. I To the depositors and creditors of the North American Bank and Trust Company. Notice is hereby given that L. Scott Townsend, receiver of the North American Bank and Trust Company, has filed in the office of the Register in Chancery at Wilmington, a list of the depositors of said company, with the amount due each of them as shown by the books of said company, that the same may be examined by any party having any interest therein; or by any person having any claim against said com. pany; that exceptions to said list of depositors and the amount due each of them may be taken by any party having any interest therein or claim as aforesaid, on or before the first day of October, A. D. 1912; that any person having in his or her possession one of the Savings Banks or Boxes loaned to him or her by said The North American Bank and Trust Company may return the same to L. Scott Townsend, Receiver, on or before the sixteenth day of September, A D. 1912; and that the persons who have said Savings Banks or Boxes, and who return the same shall be allowed their claims as set forth in the list of depositors filed with the Register in Chancery, and the claims of those depositors who do not return said Sar. ings Banks or Boxes shall be reduced by the sum of one dollar, 88 provided in the agreement signed by the depositor. JOSEPH C. JOLLS, Register in Chancery. Wilmington, Delaware, August 1, 1912. a28-w,s-to Oct. 1.