First National Bank - High Bridge, NJ

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 5333
Charter Number: 5333
Start Date: March 30, 1932
Location: High Bridge, New Jersey (40.667, -74.896)

Metadata

Model: gpt-5-mini
Short Digest: 3bd1c3c403ef408e

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

Article (The Morning Call, 1932-03-30) reports the directors of the First Bank of High Bridge closed the bank by resolution following the death of a prominent local industrialist (Percival Chrystie), fearing depositors might run. The closure appears precautionary/temporary with reference to consulting customers after April 12, so classified as a suspension with intent to reopen. OCR errors in the article (missing words) were corrected when extracting meaning. No explicit depositor run is reported.

Events (5)

1. May 5, 1900 Chartered

Source: historical_nic

2. March 30, 1932 Receivership

Source: historical_nic

3. March 30, 1932 Suspension

Cause Details: Directors voted to close the bank by resolution out of fear that the death of a prominent local figure (Percival Chrystie) might trigger withdrawals; precautionary temporary closure.
Newspaper Excerpt: Following closely on the death of the the First Bank High Bridge, its ... directors the institution evening posted. One reads: bank under the direction the charge Stewart, national bank examiner. Closed by resolution the board directors.
Source: newspapers

4. December 12, 1932 Restored To Solvency

Source: historical_nic

5. October 28, 1947 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. March 30, 1932 The Morning Call Allentown, PA

Article from The Morning Call, March 30, 1932

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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