12617. New Brunswick Trust Company (New Brunswick, NJ)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
trust
Start Date
February 14, 1933
Location
New Brunswick, New Jersey (40.486, -74.452)

Metadata

Model
gpt-5-mini
Short Digest
9ee84f38995778d7

Response Measures

None

Description

Articles describe (1) heavy withdrawals/ frightened depositors on Feb 14, 1933 when the Trust stayed open until mid-afternoon and paid depositors, and (2) the nationwide/state banking holiday in March 1933 with the New Brunswick Trust Company authorized to reopen March 13. The suspension was by government action (bank holiday) and the bank reopened. The Feb. 14 heavy withdrawals are recorded but did not cause suspension.

Events (3)
1. February 14, 1933 Run
Cause
Rumor Or Misinformation
Cause Details
Frightened depositors made heavy withdrawals (nervousness/rumors) leading to large demand payments; no insolvency alleged.
Measures
Remained open until mid-afternoon (3:15) and paid depositors in full.
Newspaper Excerpt
Frightened bank depositors called banks withdraw savings promptly paid by the banks. The New Brunswick Trust Company kept open until 3:15 o'clock ... all depositors within the banks time were paid their deposits.
Source
newspapers
2. March 6, 1933 Suspension
Cause
Government Action
Cause Details
Part of the nationwide/state bank holiday/closures in early March 1933 ordered/mandated by government authorities; banks closed temporarily and required authorization to reopen.
Newspaper Excerpt
Reopening of National Banks in Nation Begins This Week ... Colonel William H. Kelly, State Banking Commissioner, authorized banks to reopen tomorrow morning ... under rules and regulations promulgated by the State Banking Department.
Source
newspapers
3. March 13, 1933 Reopening
Newspaper Excerpt
The New Brunswick Trust Company was authorized to reopen tomorrow morning, under rules and procedures ... The following banks ... New Brunswick Trust Company ... were open for business today ... New Brunswick Trust Company was listed among banks open for business today (March 15).
Source
newspapers

Newspaper Articles (4)
1. February 14, 1933 The Central New Jersey Home News New Brunswick, NJ
Article from The Central New Jersey Home News, February 14, 1933

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Article Text

Citizens National Bank, Middlesex Title Close To Protect Depositors BANKS REMAIN OPEN TO AID DEPOSITORS their financial stability the New New Trust Company Peoples National Bank and Brunswick Savings Institution every demand made upon them today. Frightened bank depositors called banks withdraw savings promptly paid by the banks. To that they had ample funds to meet the the National Bank of New remained after the closing for New Brunswick Saving doors closed shortly after o'clock but all depositors within the bank assured that they be paid their the funds meet the demand The National Bank of New Jersey planned remain open definitely their patrons. Several dred persons in the Nationai Bank orders the tellers remain the job until every payment had made. The New Brunswick Trust Company kept open until 3:15 o'clock and Peoples NationBank did likewise. All trons within the banks time were paid their deposits.

2. March 12, 1933 The Central New Jersey Home News New Brunswick, NJ
Article from The Central New Jersey Home News, March 12, 1933

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Article Text

LOCAL BANK HEADS NOT YET NOTIFIED Reopening of National Banks in Nation Begins This Week BULLETIN D. C., March 11.-President Roosevelt nounced tonight plans were both completed for opening State National Banks beginning Monday. Under the progressive plan banks located in any city ing an active, recognized ClearHouse Asociation which there are 250 cities, will receive licenses for on Tuesday and banks located elsewhere will receive their licenses reopening for Wednesday. New Brunswick and other Middlesex communities County come in the third class and the banking last night that the national would for on Wednesday morning. This affords time for necessary shipments of the new rency authorized under the bank act to emergency shipped to the clearing house and banks in the smaller communities. The New Brunswick Trust ComNew authorized ings Colonel William H. Kelly, State Banking Commissionto reopen tomorrow morning, under rules and proby the State mulgated yesterday Banking Department. The rules and regulations apto banks closed the holiday by President Roosevelt include permissive restriction of withdrawais one per cent deposits if apby the banking commisproved sioner. Banking institutions are prohibited from releasing gold or certificates. Colonel Kelly's statement, authorizing reopening, read: "We advised through Secretary Woodin's office state institutions may reopen Monday, March 13. You are authorized reopen under any regulations promulgated by me. copy of these rules and regula-

3. March 15, 1933 The Central New Jersey Home News New Brunswick, NJ
Article from The Central New Jersey Home News, March 15, 1933

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Article Text

Open for Business The following banks in Middlesex county were open for business today: First National Bank of Cranbury. Carteret Bank and Trust Company. First National Bank Dunellen. Peoples Trust Company, Dunellen. First National Bank of Highland Park. First National Bank of Milltown. National Bank of New Jersey, New Brunswick. New Brunswick Savings Institution. New Brunswick Trust Company. Peoples National Bank, New Brunswick. The Liberty Bank, New Brunswick. Perth Amboy National Bank. Perth Amboy Savings Institution. First National Bank of South Amboy. South Amboy Trust Company. First National Bank of Sayreville. First National Bank of South Plainfield. First National Bank of South River Other banking institutions open for business today in this vicinity are: First National Bank, Bound Brook. Bound Brook Trust Company. Bound Brook. Somerville Second National Bank, Somerville. Somerville Tru Company, Somerville. Somerville Savings Bank, Somerville. Raritan Savings Bank, Raritan. Raritan State Bank. Raritan. Peapack-Gladstone Bank, Peapack. Princeton Bank and Trust Company, Princeton. Princeton Savings Bank, Princeton. First National Bank, Princeton. First National Bank, Hightstown. Hightstown Trust Company, Hightstown. First National Bank, Plainfield. Mid-City Trust Company, Plainfield. Plainfield National Bank, Plainfield. Plainfield Savings Bank, Plainfield Plainfield Trust Company, Plainfield. State Trust Company, Plainfield. Rahway Trust Company, Rahway. Rahway National Bank, Rahway. Savings Institution, Rahway. Keyport Banking Company, Keyport. The Matawan Bank, Matawan. First National Bank of Englishtown. Manville National Bank, Manville.

4. March 16, 1933 The Philadelphia Inquirer Philadelphia, PA
Article from The Philadelphia Inquirer, March 16, 1933

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Article Text

Additional New Jersey Banks Which Will Reopen Today Twelve additional New Jersey State banks will reopen today for unrestricted business by authority of Colonel William H. Kelly. State banking commissioner. Commissioner order last night creases the total State banks allowed to operate without limit to 170 The list supplements lists of 64 in clearing house centres which reopened Tuesday and 97 which yesterday. The nine banks sumed opening today Bank of LIVINGSTON-State Bank. NEWARK-Salvatore D'Auria and Sons' Trust Company SCOTCH of CLIFFSIDE PARK-Title Guaranty and Trust NORTH Trust Co. Bank and Trust Company. Franklin Trust ComEAST ORANGE-East Trust Orange The following New Jersey State banks opened Co. Bank and Trust Co.. Bloomfield Savings Institu tion. Community Trust Trust Banking BOUND BROOK-Bound Brook Trust Savings InCounty Trust Co. Bank and Trust Trust Co. CLAYTON-Clayton Title and Trust Co. DOVER-Dover Trust Trust Harber Bank Home Trust Com pany. Elizabethport Banking Company Elizabeth Trust Company. Germania Mutual Association. County Trust ComELIZABETH-Union County Savings Savings Fund Trust Trust Guar LAWN-Fair Trust FORT LEE-Fort Trust Co. FRANKLIN-Sussex Trust Co. Trust Trust Trust and Guaranty HACKENSACK-State Bank and Trust Trust Co. Bank & Trust Hudson County Trust HASBROUCK HEIGHTS-Bank of Has Trust Co., Chan Banking Co. LEONIA-Leonia Bank and Trust Co. LINDEN-Linden Trust BRANCH-Long Branch Banking Long Branch Trust Jersey Trust Co. LONG Jersey Trust Co Bank and Trust Bank. MORRISTOWN-Morris Savings Trust Co. MOUNT Trust Co. Co. NEW BRUNSWICK-New Brunswick NEW BRUNSWICK-New Brunswick Trust NORTH BERGEN-North Bergen Trust PERTH AMBOY-Porth Amboy Sav Institution. Title and Trust Co. Savings Bank Plainfield Trust Company. PLAINFIELD-Mid-City Trust ComBank and Company. Princeton Savings Savings Institution. Company Savings Bank Raritan State Bank RIDGEFIELD Park Company RIDGEWOOD-North Jersey Trust Trust Company. Bank and Trust ROCHELLE PARK Rochelle Park ROSELLE PARK-Roselle Park Trust Savings Somerville Trust Company SOUTH AMBOY-South Amboy Trust Trust Company Citi. Trust Trust ComTOMS RIVER-Ocean Trust Company OF Trust Bank and Trust Com. Trust Westfield Bank Wildwood. Governor Norris, of the Philadelphia Reserve authorized these New Jersey banks, which members of the Third Federal Reserve Bank, to reopen yesterday: First National. BEACH HAVEN-Beach Haven Na. National. BLACKWOOD. N. J.-Blackwood First First Na. National. Bridgeton National and Farmers & CAPE Safe Deposit MAY May House First National. CAPE MAY-Cape May Merchants Na. National First National. HADDON Heights Square First Na. Trust. HOPEWELL-Hopewell LAKEHURST-Lakehurst First Na. National Bank. Na. National. Holly Union MULLICA HILL-Mullica Hill Farmers National. National County Na First National. First National. First National National Salem National Bank Trust STONE HARBOR-Stome Harbor First National Swedesboro TOMS RIVER-Toms River First Na. VENTNOR City Na. First Na Marine Na. Merchanics National Bank and First National Trust WOODSTOWN Woodstown National National. The Federal Reserve Bank of New the New Jersey member banks in the second Federal Reserve district to reopen yesterday ALLENDALE-The First National Bank Allendale. ALLENHURST National Farmers Na. ASBURY PARR-Asbury Park NationBank and ATLANTIC HIGHLANDS Atlantic Highlands National First National Bank. Peoples National Bank and National Bank of BERGENFIELD-The Bergenfield Na. tional Trust Company. First Na. Bank and Trust Trust of Bloomfield. Watsessing BLOOMINGDALE-The First National Bogota. Bogota Na. National Bank. Boonton Trust BOUND BROOK-Bound Brook First BRADLEY BEACH-First National Bank First National Bank. CALDWELL-The Citizens National Co. Caldwell. Bank and Trust CEDAR GROVE-The First National National Bank CLOSTER-Closter National and National Bank. Trust Bank National Bank: PeoNational Bank. Home Trust Banking ComNational National Bank National Bank National FORT LEE-Fort Lee Trust Company. County Trust ComNational Bank GARWOOD-First National Bank Garwood. GLEN RIDGE-Gien Ridge Trust ComGLEN ROCK-Glen Rock National County National Company State Bank and Trust ComHALEDON-Haledon National Bank. Bank HASBROUCK of Has HIGH National Bank HIGHLAND PARK-First National Bank National Bank, HOPE-The First National Bank. Bank: Peoples National Bank and Trust LAMBERTVILLE-Amwell National LITTLE Falls National LITTLE FERRY-The Ferry Na National LODI-First National Bank Lodi. Bank National Manville National National Bank National Bank Trust National National National Peoples and Merchants The First National Bank of RIDGE-First National Bank of AMBOY-The Perth Amboy Na. National PROSPECT PARK-Prospect Park Na. National Bank: National Bank and RIDGEFIELD Park. National Bank and ROCHELLE Park National Bank National SAYREVILLE-Tha First National National Bank SOUTH AMBOY-First Bank. PLAINFIELD-First National SOUTH RIVER-First National Bank. First National National National Bank. National Bank Valley Na. Center National bank. Englewood Bank National Bank: First National Bank RIDGE-Wood Ridge National National Bank Trust ST. Georges Trust Com. Trust Two additional national Company have are: received licenses to open. banks They City National Bank resumed 16 Wilmington normal banking without restrictions yesterday: Artisans Savings Bank Central National Bank Bank Colonial Trust Commercial Delaware Trust Company Equitable Trust Company Farmers Bank Fourth Company Industrial Trust Provident Security Trust and Loan Association Union National Bank Wilmington Plan Bank Wilmington Wilmington Savings Fund Society Company These banks, members of the today: Philadelphia Reserve area, opened DAGSBORO-First tional. City Na First National First Na tional. MILFORD-Milford First National ODESSA-New National First