Mechanics Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: January 1, 1934
Location: Bayonne, New Jersey (40.669, -74.114)

Metadata

Model: gpt-5-mini
Short Digest: d968ea7e

Response Measures

None

Description

Articles state the bank has been on 'suspended operation' since January 1, 1934 and still on a 'restricted basis' in March 1936. No article describes a depositor run causing the suspension or any reopening; therefore classified as suspension leading to effective permanent closure. Cause of suspension not specified in the clippings (set to 'other'). Also included an unrelated 1936 axe attack on the bank premises.

Events (2)

1. January 1, 1934 Suspension

Cause Details: Article states the bank has been in suspended operation beginning January 1, 1934 but does not give a specific trigger or regulator action.
Newspaper Excerpt: the bank's suspended operation. ... the suspension ... the Mechanics Trust Company
Source: newspapers

2. March 23, 1936 Other

Newspaper Excerpt: BANK RAIDED BY LONE MAN ... walked into the Mechanics Trust Company Bank, with an axe ... The bank has been operating on a restricted basis since January 1, 1934.
Source: newspapers

Newspaper Articles (2)

1. March 20, 1934 The Bayonne Times Bayonne, NJ

Article from The Bayonne Times, March 20, 1934

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Article Text

DEPOSITORS SET TO MAP ACTION Mechanics' Trust Group to Hold Session Tonight in Labor Lyceum Depositors of the Mechanics Trust Company will meet tonight Labor Lyceum West street to program for the protection of the interests various groups affectthe bank's suspended operation. permanent organization is expected to emerge from the session, which has been by committee of depositors formed last week. call has been issued all those whom the suspension activities affected. In the work of the will the District Court Judge Aaron Melniker, will be sociated Counselor Jack Siegal. The former will act for the depositwhile the latter will represent the mortgage holders. have doubt.' said Siegal today, "that the ultimate aim and of the depositmortgage holders stockholders of the Mechanics Trust Company arrange the affairs of the bank each group shall suffer no loss. "Unquestionably that purpose can best be accomplished through strong organization combination those interested. therefore the advantage of each person interested in the Mechanics Trust Company to attend the meeting tonight."

2. March 23, 1936 The Daily Alaska Empire Juneau, AK

Article from The Daily Alaska Empire, March 23, 1936

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Article Text

BANK RAIDED BY LONE MAN Aged Depositor Swings Axe Until Exhausted and then Dies BAYONNE, New Jersey, March 23.-William Feehan, aged 55, walked into the Mechanics Trust Company Bank, with an axe in his hand, and startled the few depositors, by attacking two doors, smashing wood counters and glass windows to pieces, then swinging wildly hacked the cages of the tellers, smashing more glass and began pounding at the marble and metal work. Someone shouted "holdup" and three policemen came running. They entered the bank with guns drawn. Feehan, on the verge of exhaustion, surrendered his axe, then collapsed. He was rushed to a hospital and on arrival there was pronounced dead from heart failure. The bank has been operating on a restricted basis since January 1, 1934. The police said Feehan had $200 on deposit in the bank.