Belvidere National Bank - Belvidere, NJ

Episode Information

Episode UID: 109601585
Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 10960 national
Charter Number: 1096
Start Date: January 12, 1932
Location: Belvidere, New Jersey (40.830, -75.078)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 8d3053f798b3b828

Response Measures

None

Receivership Details

Depositor recovery rate: 73.7%
Date receivership started: 1931-10-19
Date receivership terminated: 1937-09-21
Share of assets assessed as good: 19.3%
Share of assets assessed as doubtful: 76.4%
Share of assets assessed as worthless: 4.3%

Description

Article is general and OCR-corrupted; it mentions closures in Belvidere but gives no specific bank action details or dates beyond publication.

Events (3)

1. May 1, 1865 Chartered

Source: historical_nic

2. October 19, 1931 Receivership

Source: historical_nic

3. January 12, 1932 Suspension

Cause: Government Action
Cause Details: Article references national-bank receivers and banks having closed with receivers making arrangements; implies government/receiver action closed banks in Belvidere.
Newspaper Excerpt: points in New Jersey where banks have closed. ... situation in Belvidere
Source: newspapers

Newspaper Articles (1)

1. January 12, 1932 The Jersey Journal Jersey City, NJ

Article from The Jersey Journal, January 12, 1932

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Article Text

BANK SHOW LENIENCY National Bank Receivers Will Not Be Too Harsh On Debtors. WASHINGTON D. C.-An assurance that receivers of national banks will make harsh demands for the repayment of loans owed the banks has been made Representative Perkins of Woodcliff Lake by the Comptroller of the Currency, J. W. Pole. The Congressman took the matter up with the Treasury official after that demands being by bank Belvidere. well points in New Jersey where banks have closed. debtors pay their loans to the banks immediately. According to the plaints foreclosure liquidation would cause debtors to lose their businesses. Writing situation in Belvidere the Congressman, Mr. Pole be pleased communiour and from him just what he with the the assets of trust. find that he unduly harsh the suggesting to him lenient policy cases where the debtors disposed take their obligations but are tempoembarrassed account the policy to force liquidation by arbitrary suits and by the market the debtors. We attempt consider the and grant extensions as circumthe policy of his office, Mr. Pole said, ters this kind good business judgment and the duties imposed office liquidate the insolvent banks and pay the creditors dividends.