Peoples National Bank - Blairstown, NJ

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 9833
Charter Number: 9833
Start Date: October 7, 1931
Location: Blairstown, New Jersey (40.983, -74.960)

Metadata

Model: gpt-5-mini
Short Digest: 65af5e64

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1931-10-29
Date receivership terminated: 1936-10-29
Share of assets assessed as good: 34.4%
Share of assets assessed as doubtful: 54.5%
Share of assets assessed as worthless: 11.1%

Description

Article (Press of Atlantic City, 1931-10-08) reports The People's National Bank failed to open Oct 7; a sign said it was 'closed by order of the board of directors, and is now in the hands of the controller of the currency.' No run is described. I corrected the bank name punctuation to match metadata (Peoples/People's).

Events (4)

1. August 26, 1910 Chartered

Source: historical_nic

2. October 7, 1931 Receivership

Newspaper Excerpt: A sign posted said the institution was closed by order of the board of directors, and is now in the hands of the controller of the currency.
Source: newspapers

3. October 7, 1931 Suspension

Cause: Government Action
Cause Details: Closed by board order and taken into control of the Office of the Comptroller of the Currency (controller of the currency).
Newspaper Excerpt: The People's National bank today failed to open its doors. A sign posted said the institution was closed by order of the board of directors, and is now in the hands of the controller of the currency.
Source: newspapers

4. October 29, 1931 Receivership

Source: historical_nic

Newspaper Articles (1)

1. October 8, 1931 Press of Atlantic City Atlantic City, NJ

Article from Press of Atlantic City, October 8, 1931

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Article Text

Blairstown Bank Temporarily Closed BLAIRSTOWN, Oct. 7 (P).-The People's National bank today failed to open its doors. A sign posted said the institution was "closed by order of the board of directors, and is now in the hands of the con- troller of the currency." The order was signed by N. E. Stewart, national bank examiner John Messlar is president of the bank, and Raymond Smith, cashier Employes said they thought that eventually the depositors would not lose. There is another bank in Blairstown, the president of which is State Senator Theodore Dawes. This institution is in no way affected by what is believed the temporary closing of the People's National bank. OVERCOME BY CHLORINE GAS PHILADELPHIA, Oct. (P).Deadly chlorine gas. escaping from