Asbury Park National Bank - Asbury Park, NJ

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 3792
Charter Number: 3792
Start Date: March 12, 1890
Location: Asbury Park, New Jersey (40.220, -74.012)

Metadata

Model: gpt-5-mini
Short Digest: 764f2d35

Response Measures

Books examined

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1891-07-02
Date receivership terminated: 1892-06-30
OCC cause of failure: Fraud
Share of assets assessed as good: 21.4%
Share of assets assessed as doubtful: 28.5%
Share of assets assessed as worthless: 50.1%

Description

Article (1890-03-12) reports depositors became frightened and withdrew their deposits after a visit by Bank Examiner James but says this in no way affected the bank. No suspension or closure is mentioned, so this is a run that did not lead to suspension.

Events (3)

1. September 17, 1887 Chartered

Source: historical_nic

2. March 12, 1890 Run

Cause: Rumor Or Misinformation
Cause Details: Depositors became frightened after the visit of Bank Examiner James and withdrew deposits; article gives no specific solvency problem.
Newspaper Excerpt: It is thought that the troubles of the Asbury Park National Bank are about over. Since the visit of Bank Examiner James some depositors nearly all of whom were Europeans, became frightened and withdrew their deposits but it in no way affected the bank.
Source: newspapers

3. July 2, 1891 Receivership

Source: historical_nic

Newspaper Articles (1)

1. March 12, 1890 The Jersey City News Jersey City, NJ

Article from The Jersey City News, March 12, 1890

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Article Text

Highest of all in Leavening Power.-U. S. Gov't Report, Aug. 17, 1889 Baking 0000 Powder ABSOLUTELY PURE Stock Exchange, was thrown from his horse at EASTERN MESMERISM. Lakewood on Sunday and badly injured. New Jersey State obligations now aggregate Cruel and Wonderful Tests of a $350,000, and scarcely any steps have been taken to wipe out the debt. Cataleptic Trance. A great crowd visited the Leconey farm, near Merchantville, Sunday, and carried away with There were ten years ago, and I prethem relies of the famous homestead. The sume are now, in India, mesmerists chicken that played such an important part in the acquittal of Chalkley was placed under lock whose performances transcend in and key for fear of its being stolen. Leconey wonder the combined efforts of such remained in the house and spent a quiet day of their Christian rivals as I have ever with his friends. He declares that wherever he seen. Let me describe one perforgoes a crowd follows and he is unable to attend mance:church, go to town, or in general do as he pleases without the rabble following him. It was in Secunderabad, in 1878. and E. P. Stone has been appointed Postmaster at it took place in the broad corridor of Delair, Camden county. the palace of Saler Jung, the nyzam. Bridgeton has a colored man for constable and I was one of a party of Englishmen, one for Justice of the Peace on the Republican among whom were Dr. Crawford. surticket of the Third ward. geon of the British army, and Mr. John Hodgkins, formerly an offiEx-Chancellor Runyon was mustered into the cer in her majesty's Lancers, Grand Army of the Republic at Monday evenbut at that time in the employ ing's meeting of Lincoln Post. of an English banking and merIt is thought that the troubles of the Asbury cantile firm in Hong Kong. We were Park National Bank are about over. Since the in the front ranks of the spectators, visit of Bank Examiner James some depositors nearly all of whom were Europeans. became frightened and withdrew their deposits After we had waited a few minutes, but it in no way affected the bank. fanning ourselves, for the dav was Many of the farm owners of South Jersey oppressively hot, the fakirs made have rednced their rents to the tenants, some their appearance. There were eight farms being leased for $100 less than they in the party. An old man with aquibrought last year. line features, a patriarchal white The defection from Mayor Hartford of the beard and a pair of flashing black eyes, was the leader. His wife, a Democrats in Orange, is very marked and bitpretty little woman, young enough to ter. At the City Convention on Saturday afterbe his daughter, was his chief assistnoon, the Hanchett delegation refused to act ant, and the six remaining men served with the Hartford men in any way. David as subjects and under assistants. Dodd, a Hartford delegate, assumed the right to 1 had heard much about the woncall the meeting and called Judge Davis to the derful performances of this particular chair. John C. Hagan was made secretary. band of fakirs, as all itinerant perThe first question before the committee was the formers are generally termed, and credentials of the delegates from the First disthus when I received the invitation of trict of the First ward. the nalace authorities T was delighted.