Article Text
Suspended Payment. CAMDEN, N.J., May 2.-The Fidelity Surety Trust and Safe Deposit Company suspended payment this morning. Charles L. Work, president of the Gloucester National Bank, which suspended yesterday, was also its president.
13952. Fidelity Surety Trust and Safe Deposit Company (Camden, NJ)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- private
- Start Date
- May 2, 1890
- Location
- Camden, New Jersey (39.926, -75.120)
Metadata
- Model
- gpt-5-mini
- Short Digest
90459835
Response Measures
None
Description
Multiple contemporaneous newspaper reports (May 2, 1890) state the Fidelity Surety Trust and Safe Deposit Company suspended payment this morning. Articles attribute the suspension to the prior suspension of the Gloucester National Bank (i.e., the trust was carried down by the other bank). No reports of a depositor run on the trust itself or of a reopening appear in the provided clippings; classification is suspension leading to closure (no reopening reported).
Events (1)
1.
May 2, 1890
Suspension
- Cause
- Local Banks
- Cause Details
- Suspended after/was carried down by the suspension of the Gloucester National Bank, whose president also led the trust company; trust had small deposits and was mainly fiduciary business noted in reports.
- Newspaper Excerpt
- The Fidelity Surety Trust and Safe Deposit Company suspended payment this morning.
- Source
- newspapers
Newspaper Articles (10)
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Article Text
Another Bank Gone Under. CAMDEN, N. J., May 2.-The Fidelity Surety Trust and Safe Deposit Company suspended payment this morning. Charles L. Work, the president of the Gloucester National Bank, which suspended yesterday, was also its president. Bank Examiner Andrew, who is going over the books of the Gloucester City National Bank, stated to a reporter this forenoon that it is his opinion that the bank will be able to pay its depositors in full. A notice to this effect has been posted on the door of the bank.
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Trust Company Suspends. CAMDEN, N. J., May 2.-The Fidelity Surety Trust and Safe Deposit Company suspended payment this morning. O. L. Work, President of the Gloucester National Bank, which suspended yesterday, WAS also the President of this company.
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Suspended Payments. CAMDEN, N. J., May 2.-The Fidelity Surety Trust and Safe Deposit Company suspended payment this morning. Charles L. Work, president of the Gloucester National bank, which suspended yesterday, was also its president.
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A Trust Company Fails. CAMDEN, N.J., May 2.-The Fidelity Surety Trust and Safe Deposit company suspended payment this morning. Chas. L. Work, president of the Gloucester National bank, which suspended yesterday, was its president,
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CONDENSED TELEGRAMS. ALBANY, May 2.-Governor Hill has signed the Ballot Reform Bill. BERLIN, May 2.-Herr Dechoub has been elected President of the Reichsbank. LONDON, May 2.-The 1000 guinea purse at Newmarket to-day was won by Semolina. CHICAGO, May e-The highest temperature to-day was 62°, the lowest 40°. It is cloudless. LIVERPOOL, May 2. -The steamer Yorkshire for Baltimore has returned with her cargo on fire. LONDON. May 2.-The British steamer Olivet has been sunk in collision with the steamship Saltwick at Gibraltar. WASHINGTON, May The President today nominated Samuel Dustin of Illinois to be Assistant United States Treasurer at Chicago. WEST BOYLESTON (Mass.), May 2.-The Baptist and Catholic churches and the Catholic parsonage were burned to the ground to-day. BALTIMORE, May -Louis Harrison, the comedian, is sick with brain fever, the result of his recent railroad accident. His condition is critical. SOFIA, May 2.-A Russian Jew, whose house was being searched for seditious documents, killed a commissary of police while he was conducting the search. CAMDEN (N. J.), May 2.-The Fidelity Surety Trust and Safe Deposit Company has suspended. It was carried down by the suspension of the Gloucester National Bank. WASHINGTON, May 2.-California pensions: Reissue, Frank Dilliam, National Military Home; original widows, Maria, widow of John H. Coolbaugh, East Los Angeles. WASHINGTON, May 2.-The President has approved the bill authorizing the construction of a bridge across the Brazos River in Texas, and the joint resolution authorizing Lieutenant Henry R. Lemly, U. S. A., to accept a position under the Government of the Republic of Colombia.
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Forced to Suspend. CAMDEN, N. J. May 2. The Fidelity Surety Trust and Safe Deposit company has suspended payment. Charles L. Work, president of the Gloncester National bank, which suspended yesterday, was also its president.
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The Fourth Bank Fails. CAMDEN, N,J., May 2.--The Fidelity Surety Trust and Safe Deposit Company suspended payment this morning. C. L. Work, President of the Gloucester National Bank, which suspended yesterday, was also President of this.
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BIG FAILURES IN JERSEY. A Bank and Trust Company Suspended-Other Failures. ATLANTIC CITY, N. J., May - -The Merchants' bank of this city suspended payment at 2 o'clock to-day on account of a run caused by published reports that their branches located at Elmer, Pleasantville, Egg Harbor City and Mullica Hill had closed up on account of suspension of the Bank of America in Philadelphia. The depositors are principally small business men. The capital of the bank full paid is $50,000; deposits estimated at $50,000. CAMDEN, N. J., May 2.-The Fidelity Surety Trust and Safe Deposit company suspended payment this morning. Charles L. Work, the president of the Gloucester National bank, which suspended yesterday, was also its president.
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BUSINESS FAILURES. Two Jersey Banks Collapse-Old Shirt Firm Embarrsesed. CAMDEN, N. J., May 2.-The Fidelity Surety. Trust and Safe Deposit Company suspended payment this morning. Charles L. Marks, president of the Gloucester National bank, which suspended yesterday, is also its president. The company had only a small line of deposits, its business being mainly fiduciary. ATLANTIC CITY, N.J., May 2.-The Merchants' bank suspended payment this afternoon on account of a run caused by reports that several branches in neighboring towns had suspended. Philadelphia deposits are estimated at $50,000. NEW YORK, May 2.-Fechheim & Co., shirt manufacturers, have failed. The liabilities will reach $375,000. and the assets about $275,000. The house has been in business twenty-five years.