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Copyright, 1932 BANK CLOSED Newark, N. J.—(AP)—The New Jersey National Bank and Trust Company did not open today. An American-financed line in Brazil is adding more planes to its fleet. Many airports are being opened in Chile, which had none a year ago.
NEWARK NATIONAL BANK IS CLOSED NEWARK, N. J., June 11 (I.N.S.)—The New Jersey National Bank and Trust company, operating a main office and four branches in this city, failed to open for business today. A statement by the board of directors declare the state comptroller of currency had been asked to take over the institution as the result of heavy withdrawals during the last few months. Morgan F. Larson, former governor of New Jersey, is a director of the bank and chairman of its executive committee. On Dec. 31 last, the bank had a capitalization of $2,800,000 and deposits totalling $13,878,941.
JERSEY BANK CLOSES. Erie Newark, N. J., June 11-(AP)The New Jersey National Bank & Trust Company did not open today. The Directors' statement said heavy withdrawals had been made in recent months. The bank's statement, December 31 last, showed deposits of $13,878,941.
JERSEY BANK CLOSES. Newark, N. J., June 11-(AP)The New Jersey National Bank & Trust Company did not open today. The Directors' statement said heavy withdrawals had been made in recent months. The bank's statement, December 31 last, showed deposits of $13,878,941.
WEEK'S RECEIPTS AT YARDS LIGHT Few Good Grass-Fed Steers Appear-Swine Values Hold Firm. OLD UNION STOCKYARDS June Daily receipts during the closed Saturday were light, 480 cattle. 906 hogs and 340 sheep The better quality beef cattle met good demand. with dry fed baby beef selling at $6.35 per cwt and dry fed steers per The few good steers that appeared sold at 85.50 per cwt. For the most part grass cattle Moderate 340 AT few AT CHICAGO. June and closing fat 13 Million Dollar Bank Quits. NEWARK. N. June The New Jersey National Bank and Trust company did not open today The board of directors voted to ask the comptroller of the take over the The bank's statement December 31 last showed deposits of $13,878,941. COTTON. NEW closed October quiet
WEEK'S RECEIPTS AT YARDS LIGHT Few Good Grass-Fed Steers Appear-Swine Values Hold Firm. OLD UNION STOCKYARDS. June 11.Daily receipts during the Saturday were light. 480 906 hoss and 340 sheep The better quality beef cattle met good demand, with dry baby beef selling at $6.35 per and dry fed steers demanding $6 per cwt. The few good grass steers that appeared sold at per For the most the cattle the ship340 fed for AT fed fat NEWARK N. June 11. The New Jersey National Bank and did not open today. The board of voted to ask the comptroller of the currency take over the institution. The bank's statement December 31 last showed deposits of $13,878,941. NEW
Bank Suspensions. Newark, N. J., June 11 (AP).—The New Jersey National Bank and Trust company did not open today. A directors' statement said heavy withdrawals had been made in recent months. The bank's statement December 31 last showed deposits of $13,878,941.
Bank Receiver Named June 17 (A. -John W. of Currency, pointment Rogers, receiver New National Bank Trust Company Newark. The bank placed hands national Rogers authorities Saturday affairs the institution during liquidation.
BANK STOCKHOLDERS Silk Chiffon and WILL BE ASSESSED NEWARK, N. J., Aug. 11 (AP) -Chester P. Rogers, receiver for the New Jersey National Bank & Trust Company, made public today statement of liabilities and assets as of June 10. when the bank suspended operations, and notified stockholders of a 100 per cent. assessment. Assets are stated as $16,935,633.37 and liabalities as The bank owes depositors No estimate can be made what dividends will be paid depositors or when they will be paid, Mr. Rogers said. They will be disbursed as soon as possible, 3 Pairs for $1.50 however.
LIABILITIES, ASSETS OF BANK AT NEWARK NAMED BY RECEIVER NEWARK, Aug. 12.-Chester P. Rogers, receiver the New Jersey National Bank and Trust Company, made public yesterday a statement liabilities and assets as of June when the bank suspended operations, and notified stockholders of 100 per cent assessment. Assets are stated as 633 and liabilities as $13,650,087.56. The bank owes depositors No estimate can be made what dividends will be paid depositors or when they will be paid, Mr. Rogers said. They will be disbursed as soon as possible, however.
3 Cited For Contempt Chancellor Backes Designated to Hear Case Caused by Receivership N. 16 TRENTON, was designated today to hear Senator proceedings against Harrison Frederick Henry Burnett, attorneys and Chester Rogers, bank receiv- By direction of Vice Chancellor Malcolm Buchanan, Arthur the action Edwin Walker today referred the to Vice Chancellor Backes. The out of of the Jersey National Bank and Trust Company, Newark and Burnett counsel Rogers, petitionthe federal court recover held by Vanfor derbilt chancery the Mortgage and Title used trust dethe title company the
Approximately $10,000 of deposits totaling $25,000, in six banks, has been repaid and reopening of five banks released $130,000. The reopened banks include the Freehold Trust Company, The First National Bank and Trust Company, Merchantville, The Merchantville Trust Company, The First National Bank of Ocean City, and The Port Newark National Bank. In 15 closed banks, however, approximately $261,000 is held, none of which has been released. Among these banks is the New Jersey National Bank and Trust Company, of Newark, closed recently, with a deposit of $180,000.
Sue Bank Stockholders Receiver of New Jersey National Files Four More Complaints NEWARK the closed Jersey Bank and Trust filed Federal Court today against stockholders accused failing meet their personal liability ments. The latest complaints, making Louis holder 106 shares stock assessed $2650; Asher Fisher, Hoboken. shares assessed $2650; Sol 106 assessed AbraHauptman, Newark, shares assessed $1575. ARRESTED LOUD TALKING David Diamond, of 509 diana will given hearing morning before Recorder Altman on charge of disorderly conduct. Diamond arrested creating trolley He began to discuss conditions city and country quested Detective refrain the remarks making. This Diamond would not do.
STOCK HOLDER SUED BY BANK RECEIVER NEW Feb. Blustein, 16 South Sixth Avenue, Mount Vernon, named fendant in suit filed the United States District Court by Rogers, for the Jersey National Bank and Trust Company, of Newark, According the complaint the bank was declared insolvent most two years ago because of this the Comptroller the Curhas ordered than assess rency ment $25 share levied stockholder of the against every bank. The assessment equal the par value. alleges that the Mr. Rogers Mount Vernon resident the owner shares stock and has He asks paid the for $275 plus interest judgment percent from September 1932, together with costs.
STOCKHOLDER FACES LEVY OF $317 NEW March ment for filed day in United States District Court against Isaac 16 South Sixth Mount Vernon, behalf of Rogers, receiver for the Jersey Bank and Trust Company of Newark. February Mr. Rogers brought suit for $275. The bank declared insolvent almost two years ago and result the Comptroller of the Currency directed that an assessment of $25 equal to the par value, be levied against each stockholder of the bank. According to the complaint. Mr. Blustein owner shares stock. Interest $21.40
Bank Receiver Gets Judgment Against Two C. P. Rogers, receiver of the New Jersey National Bank & Trust Company of Newark, N. J., has been awarded judgment in the Superior Court here against two stockholders of the bank for amounts equal to their shareholdings in the bank, which suspended operations June 10, 1932. The judgment against Samuel J. Glotzer of Hartford is $1388.80 and against Mrs. Lucy A. Patience of West Hartford, $2893.33. The judgment was collected under a law making stockholders of a national bank liable for debts and losses of the bank to the extent of their shares. David A. Wilson appeared for the receiver and Leon J. Greenberg and Henry H. Hunt for the defendants.