Monmouth Trust Company - Asbury Park, NJ

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 10, 1908
Location: Asbury Park, New Jersey (40.220, -74.012)

Metadata

Model: gpt-5-mini
Short Digest: 636de37d

Response Measures

None

Description

The articles describe the Monmouth Trust Company as defunct with a court-appointed receiver (John E. Lanning) and no mention of a depositor run. Receiver actions and litigation indicate permanent closure and finality (no further dividends). Additional items concern the receiver's bond and fee reductions.

Events (3)

1. December 10, 1908 Receivership

Newspaper Excerpt: MONMOUTH TRUST DEPOSITORS LOSE ASBURY PARK, Dec. 10.-Hopes of the 2,000 depositors of the defunct Monmouth Trust Company ... when Receiver John E. Lanning announced that he had lost his suit ... This is the last remaining litigation of the receiver and there will be no further dividends.
Source: newspapers

2. February 23, 1909 Other

Newspaper Excerpt: BANK RECEIVER LANNING HAS HIS BOND REDUCED. John D. Lanning, of Asbury Park, receiver of the Monmouth Trust Company of that city, appeared before Vice-Chancellor Stevens today and was granted an order reducing the amount of his bond.
Source: newspapers

3. June 1, 1909 Other

Newspaper Excerpt: John E. Lanning wanted $24,000 for acting as receiver of the Monmouth Trust company, of Asbury Park. Chancellor Pitney cut the sum down to $16,000...
Source: newspapers

Newspaper Articles (3)

1. December 10, 1908 The Star and Newark Advertiser Newark, NJ

Article from The Star and Newark Advertiser, December 10, 1908

Click image to open full size in new tab

Article Text

MONMOUTH TRUST DEPOSITORS LOSE ASBURY PARK, Dec. 10.-Hopes of the 2,000 depositors of the defunct Monmouth Trust Company that another dividend would be declared were blasted yesterday, when Receiver John E. Lanning announced that he had lost his suit against the North American Trust Company of New York to recover $47,000. This is the last remaining litigation of the receiver and there will be no further dividends.

2. February 23, 1909 The Star and Newark Advertiser Newark, NJ

Article from The Star and Newark Advertiser, February 23, 1909

Click image to open full size in new tab

Article Text

BANK RECEIVER LANNING HAS HIS BOND REDUCED. John D. Lanning, of Asbury Park, receiver of the Monmouth Trust Company of that city, appeared before Vice-Chancellor Stevens today and was granted an order reducing the amount of his bond.

3. June 1, 1909 The Morris County Chronicle Morristown, NJ

Article from The Morris County Chronicle, June 1, 1909

Click image to open full size in new tab

Article Text

THERE are a few judges in the land who object to receivers receiving all the assets of concerns placed under their legal care. John E. Lanning wanted $24,000 for acting as receiver of the Monmouth Trust company, of Asbury Park. Chancellor Pitney cut the sum down to $16,000, with the appropriate remark that receivers get too much and creditors too little. There will be somewhat general commendation of the chancellor's decision in this case.